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21 sats \ 2 replies \ @SimpleStacker 3 Sep \ on: “People like me have a good chance of improving our standard of living” charts_and_numbers
If your hypothesis is correct, then I'd expect the first chart to be correlated with lagged economic growth (which it is), but not to such an extent that the data from '22-'25 would be as low as it is. Definitely seems that something else is factoring in for the numbers to be that low.
Something about our cultural optimism/pessimism changed after the pandemic. Unsure what did.
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My hypothesis is that young people feel (even if they can't articulate), that any time there's a crisis---which would be the most natural times in which value switches hands from entrenched power---the government simply papers it over with printed money that further entrenches existing wealth. Thus never giving wealth an opportunity to change hands. We saw it with the 2008 GCF, and again with the 2020 pandemic.
Case in point: Despite a global recession due to pandemic, housing values went up because of the policy driven monetary easing all over the world. As an existing homeowner, I took advantage and refinanced down to a sub-3% mortgage interest rate. I was only able to do that because I was lucky enough to buy my home at a time when real estate was cheaper. The younger generations that don't have family wealth have no such luck.
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