Welcome to 2018 History Buffs. Like many of the viewers on this channel I,
am a MILLENNIAL. And like many MILLENNIALS I’ve been told
many times by those born in the 40s, and 50s that we’re ruining every industry, and swapping
home ownership for avocado toast. However, the worst sin of all is that we can’t
just pick up the newspaper, turn to the classifieds and get a decent job anymore due to our laziness. Today, I’m going to go into why your parents
think this way, and why the world they grew up in is very different than ours when it
comes to opportunity. Hi, I’m Tristan Johnson, and this is Step
Back History. Be sure to click the subscribe button as well
as the bell notification to never miss a new Step Back video or live stream. So what makes the age the baby boom generation
grew into special? Well, a few things. This period is often given nicknames like
the long boom or a golden age that began around the year 1950. It’s an ongoing economic boom unlike any
other seen in history and lasted all the way until the mid-70s. Some call it the , or the glorious thirty. I think we need to begin with the obvious
culprit, the Second World War. It was possibly the most destructive thing
in human history, and weirdly enough, capitalism thrives when it’s producing, regardless
if it’s making new things or replacing destroyed things. They had to rebuild a good chunk of the planet,
and that meant a lot of people working. There was also quite a technology race in
everyone’s effort to murder each other, so a lot of new technologies entered the economic
system. That’s where the big boom came from, productivity. On farms, tractors, fertilizer, and new high
yield crops were making farming more efficient than ever before. New automation technologies made factories
produce more and more goods every year, but not enough automation that factories didn’t
require lots and lots of people making steady paychecks and excellent benefits to give a
stable home life to their kids. Many countries took this period to invest
in infrastructure like highway systems that spread across their lands and helped make
retail businesses expand and thrive. Coal was also on the decline, and oil was
cheap as hell, and so it was easy to own a car, a ship, or a fleet of trucks, and that
made everything much less expensive. This technology and resource boom allowed
for new industries to rise, and for new products like TVs, and services like commercial flights
to skyrocket. Many governments also practised a form of
Keynesian economics, in which the government used to invest in things to make them grow. It’s an economic philosophy that believes
that in times of economic downturns, the government should invest in things like infrastructure
and development programs to get the wheels turning again with juicy government jobs. In this period, you didn’t even need your
customers to have money. The US just flat out gave European countries
$12 billion to rebuild, and then made a killing as they spent all that money on American companies
to restore their infrastructure. This is different from our current model of
neoliberal economics which believes in cutting taxes for the rich in hopes that they’ll
pretty please do something with it and not just sit on it like they’re some sort of dragon. Either way, unlike Neoliberal economics, Keynesian
economics shows results, and you saw it in this period. There is of course also the militarisation
of the world in this period. Before the second world war, a permanent military
was a little strange and usually small. However, after the Second World War when the
ruthless capitalists or the ruthless communists threatened your sacred way of life, countries
started to build up their militaries massively. It’s almost like a form of Keynesian economics,
except instead of making items people need, you make bigger and bigger murder machines
for a war that might happen. Pretty much the same. There was also a pretty lovely borrowing situation
in this period. Interest rates were really low, sometimes
even negative. That made it easy to borrow money in case
you wanted to buy a house or a car, or start your own general store, or whatever happened
in the 50s and 60s. One of the effects of this explosion was the
demographic bulge of the baby boom. A group of people who grew up in the middle
of this golden age. So, you can thank or blame this economic explosion
for consumerism, welfare, space exploration, the 60s counterculture, the civil rights movement,
and second wave feminism. And of course white picket fences, and suburbs. So why did it end? Why did a person your age in the early 70s
get a permanent full-time job with benefits they could live off as an entry position,
and you are begging for contracts or a (maybe) paid internship today? Well, the economy began to change. In 1973, OPEC, the cartel of oil-producing
countries started to embargo countries that supported Israel in the Yom Kippur War. Oil prices skyrocketed, stalling the economy
in its tracks. This exacerbated an already trending movement
away from industrial economies in the west. Why make stuff when a corporation could just
pay near-slaves halfway across the planet to make it instead? Unions lost their teeth, and we moved towards
a service economy. For some, that means more lawyers, doctors,
and bankers, but for most, it means regular, dependable, high paying jobs that require
little education would be gone. Now, even many jobs that do require skilled
work can be exported to regions with lax labour laws. As Mexie so elegantly pointed out in her video. Capital is fluid and can move anywhere, but
labour cannot. It’s much harder for a person to move to
where the jobs are good, than for jobs to move where the expected pay is bad. And this is where I come to the last significant
thing about this period that we don’t talk about enough. The 50s and 60s were an unprecedented period
of income equality. It wasn’t anywhere just or perfect, but
it was a narrower gap between rich and poor than ever seen before or since. It seems our current moment is more similar
to the economic conditions of the 20s than the 60s… and we know what happened after
the 20s. So why aren’t millennials buying houses
or diamonds? Well, it’s because we’re broke, and a little
historical literacy teaches us that it isn’t because we did anything wrong. But if we wanted to we could change it. I get a lot of book recommendations. That and Amazon decided to give me a place
in their influencer program. I hope that’s the last time I ever have
to say that word. Either way, I made a little place where I
put books I’ve used in the research for step back videos and a few of my favourites. If you wanna check it out, there’s a link
in the description, and if you buy any of those books, you actually send a few coins
my way at no extra cost to you. I want to thank 12 tone for the theme song
and these wonderful people, especially Don and Kerry Johnson sorry about this video by
the way, for their support on Patreon. If you wanna help the channel and keep this
ship afloat, go to Patreon.com/StepBackHistory and get your videos early! Now, take care and come back soon for more
Step Back.

Tagged : # # # # # # # # # # # # # # # # # # #

100 thoughts on “Why Boomers Don’t Get Millennials”

  1. If you liked this video, I have a playlist of videos when History and the News meet. Check it out here: https://www.youtube.com/watch?v=uYhTIwDT3I8&index=2&list=PLnpoOo7lhNnFAucvYNWs7dmjpGCs5LBJG

  2. To me, from what i take from the older generation is, according to them, the WORST sin of being a millennial, is being firmly pro-secularism and anti-theocracy.

  3. Albeit he sounds smart, this is loaded with bias and agenda. Anyone with the desire to work hard and the will and determination to be successful, can thrive in any economy in the free world. Trying to find excuses for the failure of a bunch of people that decided that the world owes them something only makes you sound as pathetic as they. Many successful people with money were broke at times, but success isn't a time period that offers you a handout, it's a drive and determination that gets you More..through the good times and bad.  Now, Back to your bag of Cheetos while you blame others for your obesity.

  4. Thanks for the laugh….you gloss over the advent of the Federal Reserve in your economic synopsis and completely blow how money works. Fiat currency which is what politicians use to fund their limitless spending always makes it increasingly harder for each passing generation as the costs of living soars higher and higher relative to the currencies value. The federal reserve prints trillions of dollars to offset borrowing by the treasury. The more this happens it accelerates the drop in value of your wages and what they can actually buy. These politicians then blame said "rich" people for not paying enough, even though their costs have risen as their purchasing power has decreased as well. Currency is designed to lose value at around 2% per year. When more money is printed it raises the drop in value even further and it "feels" like youre poorer than than the previous years even though numbers wise youre making more. Typical of millenial though you push for government spending which is the cause of the hyper inflation rather than the actual cure. Less debt, less spending and less manipulation of the currency would allow more people to build wealth and pass it on to the next generation. The current system will make the dollar near worthless soon. Tangible assets will rise as people seek to move from paper money into real assets they can trade with. This is why crypto currency is rising so fast and why if implemented properly could make the federal reserve useless. The only problem is the limit of daily transactions bit coin can handle making it more useful for deeds and real property vs a daily use currency. Still….I caution folks about the speculative nature of bit coin in its current state….once the bubble pops and values flatten it will be useful. Too much too soon will have many lower end users losing their values. Bloc chain is good…but the governments may regulate it to death if it threatens their currency monopoly.

  5. As a Gen X-er I love Millennials. Thanks to you guys, my generation doesn't get picked on as much as it used to 🙂

  6. YESSS! Good point on the Yom Kippur War. I've been telling people this story for ages, nice to see that I'm not alone in my analysis of the changes seen in throughout different Western economies.

  7. Didnt address neoliberal politics lasted from around 1980 until today. Everything is focused on the wants of business rather than the needs of workers.

  8. 3:15 that's not neoliberal economics, that's reaganomics(or trickle-down economics, or scam-disguised-as economics). if you're going to call out stupidity by name, than please get it right.

    edit: corrected the time.

  9. Milennials pls stop blaming us Gen Z(We really need a name). We're your younger cousins, who is going to go through the same thing as you now and in about 1 to 20 years actually. Plus, maybe working in the Medical Field could help you out. You'll get good money and the world needs alot of doctors.

  10. Talk about victim mentality – there has never been so many self made successes and innovations because of people who refuse to give into a lack of basic labor jobs to earn a living. This change in culture has lead to hundreds of innovations and conviences that would never had happened if hardships hadn't pushed them to find a better way… and your solution is to tax them more now that they earn good money, further pushing more jobs and capitol outside the country – way to pin it man

  11. It's questionable if Keynesian economics even still works. Several years ago, the government handed over a bunch of money to the telecom companies to get them to invest in rural areas, and overhaul the already existing telephone lines. The idea was to bring the internet to regions that otherwise could not benefit from it and help make the internet faster. The people running those companies, Verizon/AT&T/Comcast etc, decided to write themselves bonuses instead of do what they were supposed to do with it.

    Also, the better term for your"Neoliberalism economics" is Reaganomics/Trickle Down economics.

    Regarding the bit about the economy stalling: As you said, corporations found it cheaper to pay for overseas slaves than to pay for local workers. More of the problem is that they kept trying to sell their product to the same target audience, the people they had all just fired. But, those people can't afford their products anymore because they're out of a job.

    While capitalism is great for making a lot of a lot of stuff, the part of it where businesses are always trying to minimize cost for the sake of further increasing their profits does not actually benefit the economy. They say that paying American workers cost more, but they're ignoring the $400,000+ salaries the CEOs and board of directors make. They don't need to be making 'that' much money, and all that excess/improperly spent/distributed money could have and should be put towards actually hiring and paying their workers.

  12. How is it "neo-liberal economics" when the conservative Republican Party are the ones who pushed for the "trickle down economics?"

  13. Don't forget, we also abandoned the gold standard, allowing our government to just print money (actually they buy it from the Federal Reserve, with interest, which is actually a private bank). I think now our dollars are backed by petrol, which raises a few problems in that we are running out of new oil fields and production, and we're literally burning the oil that we have. Also, green energies are trying to make oil and other fossil fuels obsolete, which would then lower the value of the oil. With gold and silver, what we previously used, there was still that limited supply, but once we dug it up and introduced it into the system, it didn't disappear to the extent that oil does; in a literal puff of smoke. Sure someone might sit on it for a while in the form of jewelry, bars, coins, etc. But it could always be re-melted and re-introduced. The longer we push against green energies, and rebuilding both our energy and financial infrastructures, the bigger the bubble will be and the bigger the eventual economic collapse.

  14. I wish I could show this to my grandma. She is always on my case about how I need to get a better job, a reminds me that at one point she was working 3 jobs to make ends meet and I should do the same (Well, ok she doesn't actually say that last part, but she definitely implies it.) She makes it sound like good jobs are sooo easy to find when they simply aren't. I'm pretty sure, though, if I did show her this, it would probably just go right over her head, and she would accuse me of "just making excuses" or something like that.

  15. When people say "millennials are killing X product" they are essentially criticising capitalism since production in market economies is self-regulating and driven mainly by demand. So actually it's just the market doing what it does best.

  16. Baby boomers try to take away from the young people. Example brexit baby boomers voted to leave they already use the benefits from the EU and took it away from the young poof Britten

  17. Malcolm Gladwell in book 60s you work in detroit factory as young kid and get Higher education in engineering and government gives free lawn, it is like born with platinum spoon in mouth this platinum spoon coverd in gold and this golden plated spoon encrusted with diamonds. Whiny millennial capital can be outsourced labor can't.

  18. The Baby Boom generation is a demographic boom-and-bust cycle. They outnumbered the generation before them AND the generation after, which is practically unprecedented in U.S. history. The 1980s were the boom years, when the country reaped the benefits of having a young, healthy, and ambitious workforce. 40 years later, the Boomers are old, tired, and resting on their laurels, and now we're having a "Baby Bust." One-fourth of the workforce is over 55 now, still earning peak salaries and benefits but losing productivity, and keeping the rest of us bottlenecked down the career ladder as a result. Just wait until these silver-haired hordes start retiring in large numbers and the younger generations have to support them on the stunted careers we've been trapped in – in some cases long enough to have children of our own.

  19. I honestly can't wait till genx are in the boomers age and millennials are in the genx age, etc… I just feel like the world will be a bit better, or worse. Legit feel like boomers are holding everything back before they drop dead. Like fuck off at this point…. let us live.

  20. 60 year old boomer here. I think things were pretty good until the Reagan/ Thatcher era. Things had been so good for so long, and people were very confident. They thought 'if we are doing this well surrounded by red tape and inefficiency imagine how fabulous it will be if we do away with those things'. Enter Thatcher and Reagan who optimistically did away with the laws that kept the voracious capitalist tiger in check, and its eaten our lunch. Capitalism is great – everyone is going to work hardest for themselves, right – but left totally unrestrained it is eventually going to resolve down to one huge Corporation owning everything. Not good for anyone, not the middle class, not the employees of the Corporation. Checks and balances in the form of laws, and institutions such as a genuinely free press, unions, lobbiest free government, force the tiger to share its lunch. Its a huge mistake later generations are paying for, but no reason it cant change. The positive aspect is it has lifted the third world out of poverty, but is it out of the frying pan into the fire?

  21. I am 24 years old. I graduated from a public 4 year college with a degree in business. I had an internship during college and worked from sophomore to senior year. I was also in a club on campus that I put on my resume. I have applied to 181 jobs.I have attended 8 networking events and will be attending my 9th in April of 2018. I've also walked into offices and hand delivered my resume to receptionists.Companies don't like that very much. One even had security tell me to leave. So my question is this WHY THE FUCK WON'T ANYONE HIRE ME?! I earn minimum wage and my boss will only give me 3 days a week!!!

  22. Because boomers are jackasses and they will be remembered that way when they die out we the millennials will write the history and they will be remembered for the lazy entitled selfish jackasses they were

  23. Millennials are a repeat of the g.i. generation only our war is a financial one and bitcoin will be there once the dollar fails fully

  24. Baby Boomers got wealthy from industry jobs protected by trade tariffs & the simple fact that one half of the world was behind a wall manned by guards in a green uniform. They bought 3 bedroom family homes on 1/2 acre blocks for 1/5th of the price Millennials pay for a 1 bedroom apartment. Their cars were cheap & lasted 2 decades & they could raise their children how they wanted to. Also, the Baby Boomers pissed away the prosperity of the 90s, which was pure luck as Eastern Europe opened up & was buying The West's resources & consumer goods; but Bill Clinton gets all the praise when he was just president during a lucky boom era in the world's economy called "The 90s Boom Era".
    Millennials only job prospects are part-time jobs working as bartenders, or the only full-time jobs are stock brokers or bus drivers; due to the third world being the cheap factory for the West, without needing to trade through tariff barriers. Housing is expensive due to Baby Boomers electing multicultural policies resulting in a flood of immigration powering this perpetual growth encouraged by the corporations who many Baby Boomers have invested stocks into. Cars are expensive for something you're going to throw away in 5 years time as it's uneconomical to keep fixing modern day cars & The government tells you how to raise your kids.
    Now, the Baby Boomers complain when conservative politicians want to halt social service spending because we can't afford the Public Ponzi Scheme which is the Welfare System the Baby Boomers rely on for "free" healthcare & fortnightly pensions.

  25. i am what others have referred to as a gen-xer- i grew up in the seventies and it was not a boom time, families disintegrated and then came the 80s and neoliberal economics really took hold. i agree with much of what you said, no most all of what you said but i find one big difference between boomers/gen x and the generations that came after is that my cohort actually remembers a time when kids were free range and there were not screens in every pocket. the current generation seems to live in their devices- they seem distant from physical reality most of the time. i think a lot of older generations view this generation as being really different in this regard and i think it is real. they really are different- palm zombies attached to a smartphone unbillical cord.

  26. I wonder if my generation, gen z are gonna be even worse off than the millennials. we're just entering the world of work

  27. Seems like a good many Baby Boomers with second wives cave in pretty easily to her demands to cut his first marriage's kids out of his will to make her rich also.

    One of the saddest things about that is that without a will, the law would only give the spouse a fairly modest amount (1/3 of the house, up to $150k cash max), so there's definite favouritism happening. The other sad thing is that many of their kids (Gen X and Y) have no assets and have been waiting on any kind of decent break for decades, while watching wages stagnate and drop relative to cost of living while rents remain high. That's sad because the second wives are most often Boomers also so they never had to endure such economic depravation but are siphoning off all the family's wealth, generated while they didn't even know the guy or family, when their opportunities were much greater than their spouses kids, who entered the job market at its worst since World War II. So it's a diversion of massive wealth to those who have always had more economic good times away from those who pretty much never did. How Boomer-like.

  28. So basically all it is, it’s a pissing contest to see who has it worse, instead of trying to find a way to fix your problems, we live in the digital age, where anybody can search for anything online to help them with their problems, but all i see is people complaining that they have it so darn hard all the time, that is called being lazy, how about doing something about it instead of telling everyone how tough your life is, we have our own problems to fix, we are tired of fixing your problems all the time too.

  29. Maybe it's because boomers' selfishness and/or lack of understanding of economics and natural rights created horrible economic programs like social security, Medicare, and Medicaid that have bankrupted our economy?

  30. I love seeing entitled baby boomers in line at grocery stores complaining about trivial shit and me telling them "Oh shut the fuck up you big baby." and watching them clutch their pearls and dollar-store baseball caps.

    – A millennial who's had enough of them.

  31. 3:17 That's not neoliberal economics, that's called supply-side economics.In fact, many neoliberal economists are against it like Paul Krugman.

  32. The baby boomers bad it the easiest, and destroyed this economy…yet have the audacity to blame the millennials. I don't know what I am, because some people were crying about my generation be called "Zenials" or some garbage like that.

  33. TL;DR – the economy will improve when the baby boomers are in nursing homes still blaming everything on millenials including why their bed pan didn't get changed or they didn't get their sponge bath on time

  34. Have you believed the gospel? The gospel is that Jesus died on the cross for your sins was buried and rose again the third day.

  35. Ronald Reagan was a jesuit shill for the Vatican led nwo. He restored diplomatic relations between the Vatican and our nation.

  36. As a boomer from a politically active family I think that you have missed the overwhelming revulsion that World War II caused in the majority of people as one of the causes of the 30 year boom.

    The racist policies the Nazis and the pictures from the death camps caused a deep rejection of social Darwinism. This mixed with a profound failure of the ruling elite to do a good job in guiding the world and its governments in the first half of the 20th century lead to a far more egalitarian mindset. I think the British historians have done a better job than the US's of showing how the two World Wars lead to the at least partial collapse of their 900 year old class system. Similar but not as obvious breaking of class lines happened here in the US.

    If a society believes that all people should have good houses, access to enough food, excellent free education, and adequate medical care a lot of good well paying jobs will be developed to provide these things. Those well paid people will then spend their hard earned money and that will generate more jobs and money. In this way the effects of the changes in attitudes across all classes, even among the rich and powerful, lead to a raising tide that raised all boats.

  37. I hate when they lump those born in the 1960s with the Baby Boomers which you haven't done here. By the time we finished high school, inflation was the highest it had ever been then Reagan killed all the college grant programs as well as the hope for a renewable energy future in my working lifetime. We were the first school integration generation that ramped down racism from those born in the 50s (yes it is never perfect but it was nowhere as bad as those before, think Bull Connor and school bomb scares and race riots). By the time I got a job, we were in Old Bush's recession, had to move 1200 miles north to find any job with tax cuts only for the rich and stock bubbles like in the dot com which kept me out of the donor class. Never owned a house, the lifetime at a company went extinct. So the second half of the so-called boomers of the sixties has been called the Jones because of the prior boomers took and sold off all the assets in the corporate raider era instead of investing and hiring. Short term profits, greed is good, winners fly, losers cry mentality of the 80s and 90s killed off my age cohort's dreams.

  38. It's the "can do it" attitude that their grandparents gave them after WWII. Don't get mad at millennials for our "we want it" attitude after boomers admitted that they screwed up. Millennials will do it without boomers

  39. Yeah, the WWII generation had basically the same whiney complaints about the boomers. I am in between the 2 generations and I remember my parents complaining about young people and how they were awful. They wore jeans (dungarees 😡) and did not do enough work. Lazy, long haired pot smokers, complainers, letting their kids get away with stuff (permissiveness)….

  40. Its true! Funny how my grandparents came here with no education and worked hard labor in agriculture and were homeowners with big families. The 2nd generation, my aunts and uncles were born here and got an education but half of them are homeowners working better jobs than their parents. Some worked for the school district others for the city, ones a truck driver, you know decent not hard jobs to get. Then my generation, me and my cousins were the first to go to college and have professional jobs if they're done getting their credintials, most of us are married and have Kids but Only 1 of us is a homeowner. The education got better the jobs are better we still have each other but the quality of life is declining and the struggle in making ends meet is getting harder and harder. We still live in central California but it makes me wonder what my kids future is going to look like. It looks depressing and it feels like Im to blame for not trying harder or doing something to make it better for them. It's like every generation before figured it out whatever hand they were dealt but for the first time it's going to fail with me. The only relief sometimes is just letting it go and say fuck it. Life is hard and everything is over priced like everybody's literally trying to get rich off of you. Between student loans buying a house and healthcare and a vehicle Im already looking at every last dime I make right now. And thats the difference. We work longer hours for basic necessities. You take a day off or a paid vacation that's taxed even more and no overtime and you'll run the risk of taking out a loan and when that happens it's just a snowball effect after that. Fuck it. And then they blame criminals for cutting corners and cheating to make ends meet. Drug dealers, thieves, prostitutes, tax evaders, frauds and every other hungry mother fucker just trying to survive in a game were the rules are rigged against you. 😆 jokes not on me. You know what puts a smile on my face? Videos of distruction whether nuclear bomb test footage to The world Trade Centers and extreme weather from around the world. Shit like that. Anything that makes me think it could be worse.😉

  41. In a nut shell… Boomers hate getting old. They hate getting called old and out of touch. They hate not being respected. Ironically that is the same way they treated the WW2 Generation.

  42. I am a Gen X-er (1966 – 1979). The BB-ers used to say we were Slackers and unfocused and lacked a real defining moment like Vietnam, the Civil Rights Movement, etc. (9/11 does not count it seems). Every generation blames the previous generation and the older generation decries the lack of discipline, etc. I do give the Millennials and Gen Z credit for being tech savy and having a wealth of information at their command that I didn't have at their age. Weather more information equals more wisdom and better choices is yet to be determined. Power rests in the hands of the pre-BBers, the BB-ers and some of the older and middle Gen – Xers. The younger generation is generally more progressive and more racially and ethnically diverse. Demographic shifts around the corner. In order to get a taste of the future you may wish to go to this website and see what has already happened in California (hint they used to be a solid conservative Red state that gave us Nixon and Reagan).

    https://medium.com/s/state-of-the-future/california-is-the-future-6601cdf8caf8

  43. Unfortunately Keynesian economics won't help us because it can't do enough to avert climate disaster. We need eco-socialism now!

  44. To be fair, Gen Xers can be equally harsh to Millenials and Gen Z, maybe because they came of age in the neoliberal fever dream of the Reagan Administration

  45. I am a "late" baby boomer and really getting tired of being beat up for the year I was born in. I don't dislike Millenials at all – I know several awesome Millenials. Any time we bash any group all together, we are idiots. The only time I get upset with Millenials, is if they bash me first. Otherwise I think we all ought to get along.

  46. From WW2, the US capitalized on isolationism. Those born thereafter were so entitled to it, they took it for granted and dabbled into Communism.

  47. A good book that dives deeper into the tactics boomers/gen x use on the younger generations is “The Myth of the Spoiled Child” by Alfie Kohn. It talks about a multitude of pressures that young people today feel, and the underlying values behind complaints of “kids these days”. It deconstructs those ideas and analyzes the effect it has on people who grow up being parented by those who hold ideology that everything is the younger generations fault and that their generation was “the good ol days”. The results are very familiar to what we see in young people today.

  48. It says this is a video on why Boomers dont get Millenials. Meanwhile, he casually explains the entire U.S. economy in 7 minutes, amazing work.

  49. It's not even just "Hey we are broke" its the cost of housing is outrageous. Back in the 50's Levittown started mass producing houses that sold for around $7k. Translate that to today and thats about $70k. Imagine being able to buy a starter home in NY for just $70k? Sure a pretty small house with no basement but hey its a starter home for 70k. Brand spanking new at that. New everything! Those same houses today sell for about 700% adjust for inflation between 450k to 500k being the average. They also tend to require potentially thousands of dollars worth of work and are around 70 years old. Even in the late 80's or early 90's those same houses would be very affordable. Something happened around the late 90's early 2000's that made the housing market explode in price.

  50. People born in the late 50s were baby boomers but by mid seventies you couldn’t buy a job. Not all baby boomers struggled but most made it work.

  51. This isn't anything new every older generation looks down on the young. The exact thing happened to the Baby Boomers. The Greatest Generation couldn't understand why they were protesting and challenging the Government. If you look back at the 60s you see plenty of cases where the young are being denigrated by their parents generation. Not sure what your musical taste are but Johnny Cash has a song called What is Truth which talks about how the Baby Boomers were being derided by the Greatest Generation. It of course could easily be applied to now and Millennials. It seems everyone slowly becomes their parents. I am sure 20 years from now Millennials will be complaining about the generation being born now.

  52. Don't worry Millennials, they didn't understand us Gen Xers either. We were named X because we're the generation that stood for nothing.

  53. Keynesian economics failed because it promised to stop boom and bust cycles and it didn't. While better than neo-liberalism it's still bad. Neo-liberalism is normal progression of capitalism. Capitalism always looks to expand it's markets and make more profit. In it's quest for infinite profit capitalism turned to privatization of government services. Also we have a falling rate of profit and neo-liberalism helped to raise the rate of profit. Without neo-liberalism capitalism would fail which I don't think is a bad thing but it is the reason why we have neo-liberalism and we can't go back to Keynesian economics.

  54. You don't know anything about the 1970s. We had rapid inflation, with 20% house mortgages. We had extremely high gas prices. Our family lost 3 houses over the 1970s and 1980s. Living in the 70s and 80s was no easy time.

    Stop using emotionally laced arguments to cover your discussion. It makes you appear less authoritative.

  55. But what is our goal? We do all this stuff like moving into cities, forming a economic system, stores, jobs, schools, etc but what is the goal?… like what in the future do we want to target? are we just gonna keep teaching that life is school, work, die and work is the MOST important thing known to man. I have baby boomer grandparents and all their mind is focused on is work. If I do one small thing they view that I'm not being productive but yet we have one chance to live and working non stop is a waste. Especially how population is skyrocketing because of them and now we will in a 100 years suffer food shortage. I can maybe see in the future as manufacture jobs and ai takes more jobs people will become more happy because then everything will be free since their is no one pay and then we can finally live a life but still I dont see that anytime soon. But again what mark are we trying to make on this planet that will truly benefit us besides technology or are we we just gonna keep this same system going for decades to come.

Leave a Reply

Your email address will not be published. Required fields are marked *