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76 sats \ 18 replies \ @siggy47 2 Feb \ on: Baby-Boomers are Loaded. Why Are They Not Spending? (The Economist) econ
This Obama style "you didn't build this" mentality is what causes revolutions- French or Bolshevik.
Oh, boomers certainly built a lot of the crap we're suffering under.
On the ultimate day/final analysis, they will answer for those crimes
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Jealousy is an easy substitute for personal responsibility. Many boomers have been lucky. I was. Others had to deal with losing their homes in 2008, and then figuring out how to feed their families. I have friends who never recovered. Their life savings have been debased over thirty years right when they need it for retirement. Nixon in 1971 did no one any favors.
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your fellow boomers who lost their homes in 2008... did they lose their homes because they were over leveraged?
My parents (silent generation) got 'unlucky' during the 1990s but recovered after 2001.
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I guess so, but it's hard to judge overleveraged if they're unsophisticated, and they have never seen housing prices drop in their lifetime. In 2008 it was a fast, enormous drop in value. All the so called experts were saying everything was fine. It looks obvious in the rear view mirror.
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True
One story that never got enough attention was federal takeover of Fannie Mae and Freddie Mac in 2007. That was a harbinger of disaster in the housing market. I remember thinking why aren’t more people freaked out by this event…
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The neoliberals of the 1980s did most of the damage.
Just as the Libertarians are continuing on with the same proven to fail and proven to enable corporate rentseeking 'free markets fix everything' nonsense.
Mixed economies where cartels and monopolies are strictly regulated are more productive than the crony capitalism that neoliberalism has delivered.
Liberalism does not fix this...it just continues the same fallacies and empowers the market monopolists and crony capitalism.
Today China is building global infrastructure at a rate never equaled by the west even when the west was a largely functional mixed economy-1930-70.
Will Libertarians one day answer for their naive misguided dogma undermining western civilisation?
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Yeah, I'm very confused where this dude is looking.
No place where "libertarian" notions rule
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Correct (and for good reason) but they do predominate in certain circles including SNs and Bitcoin, and influence the narrative creating hostility toward government, voter apathy, and thus ideal conditions for rentseeking corporate parasites....just as neoliberalism did.
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So, first off drop the "neolib" — it's not a thing. A poltergeist invented by the leftists.
Second, that libertarian ideas dominate bitcoin and SN is quite irrelevant for 20th c political history or what's going wrong with western civ currently.
If it weren't obvious, SN posters and Bitcoiners are fringe to the world
of course not
Libertarians are not relevant lol
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Libertarians are a continuation of the neoliberal 'government is bad' 'markets solve everything' nonsense.
The neoliberals certainly degraded western civilisation and the Libertarians want to continue in the same greed is good climate change denial corporate rentseeking servility, and resultant societal and economic descent.
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You think mixed economies, or China = functional, is the foundation of western civ??
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Show us an empire that gained wealth and power without the crucial role of the government being central to its success?
SILENCE.
Governments are crucial to the wealth of nations and always have been.
The Chinese government regulates and controls big capital deliberately and particularly where it seeks to rentseek or manipulate the market at the expense of the wider economy - this used to also be the case in western liberal democracies at least until the neoliberals captured our governments via patronage.
The western governments and economies are today corrupted, directed by big capital. (AKA crony capitalism) This is where your Libertarian/neoliberal (market knows best) dogma/narrative gets us to- economic and societal ruin and inability to compete with China where the government crushes rentseeking corporates who would weaken the wider economy.
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