The game is rigged. Wealth begets wealth, my personal anecdotes. (properties, $10k)

[skeddy]

Originally Posted by bluesclues5

So you're saying we have to scrimp and save and sacrifice and potentially work multiple jobs in order to afford a basic necessity that was once a possibility in this country 70 years ago on a single income, because the rich and NIMBY types have lobbied against building more affordable housing, while mega corps buy up hundreds of thousands of homes for the purpose to renting to those who can't afford housing anymore because they made it unaffordable? Got it.

you could scrap by on a single income in the 50's. Only if you were happy living in an 800 sq ft house, driving a ten year old car, vacationing in a tent in the back yard or a trip to a municipal pool. Actually you can still do that today. Some of us remember those days, you obviously don't.

[Sunbiz1]

Originally Posted by mathjak107

same ,

i got dumped out of school in to the draft , vietnam , the worst recession since the great depression along with the highest unemployment .

we had soaring inflation , gas lines and race riots .

tell me again how priveledged i was coming from a new york city housing project.

let’s compare that to having to. live in mommy and daddy’s house longer and the wi-fi is weak in the basement which is about the worst event many who complain are exposed to.

or they foolishly borrowed so much money to go away to school and foolishly got a worthless degree

In a way, you were privileged; in that you were forced to work hard.
I was handed everything, had little incentive; until I went bankrupt 25 years ago.
Only then did I start busting my behind.
The title of this thread does have merit, in spite of both public and private education; even my parents had little understanding of such things as cash flow. How to manage money, a/the main factor to pursue education; is simply not taught in schools at a practical level.

My parents, both boomers; panicked during the great recession.
They cashed out investments, a 401K at a loss; investments you and I know rebounded quite nicely in the following years.
So, I feel this thread has 2 contributing factors:
A. Lack of useful education.
B. Self-entitlement attitudes, of which I was once guilty of.
Both have existed since before you and I were conceived.

[mgkeith]

Oh come on now; life is easier if you're born into wealth. You have to work harder to get to a good place in life if you're poor. A good safety net (and connections) can be very helpful to young people. That certainly isn't to say that all baby boomers had it good, though.

[mathjak107]

Originally Posted by mgkeith

So how many actual positions are you talking about? Those huge firms are all about MARKETING yourself by the way...it's very high pressure. You can be extremely smart but not able/willing to hustle once you get in. But that's just something not every student is aware of. They don't keep you on if you don't bring enough clients in.


How long ago did your kids go to school?



I am very crabby today. Yesterday I got a shingles vaccine in one arm and Covid in the other.



I understand that you are extremely proud of your son, and for good reason.

i guess it had to be about 15 years ago at this point that he graduated .

i don’t know how many positions are open . i just heard him say he was looking and it is hard even at these pay levels to find suitable employees..

i think they have 45 offices and close to 1,0000 attorneys..not sure how many full partners there are . i know some are waiting their life and are never selected

[aslowdodge]

Originally Posted by Mircea

There's no such thing as wealth disparity. It is just another contrived euphemism for jealousy so people can feel good about their jealousy.

Why aren't you concerned about sex disparity and love disparity? Hmmm? Some people get way more sex and/or love than other people. Shouldn't government get involved and redistribute sex and love on an equal basis?

Sex and love have a far greater measurable impact on a person's emotional health, mental health, physical health, and overall well-being than wealth does.

You say the word "generations" but you don't understand it.

The generations have different values, attitudes, and beliefs.

One thing that happens to be in common with the Lost and GI Generations is their value of family.

But, of course! The Lost Generation grew up around the hyper-extended nuclear family and the GI Generation grew up around the extended nuclear family. Family was everything to them.

But not so Generation X. They disdain family. They were the latch-key kids. Both parents -- if they had them -- worked so they had little contact with them or their extended family. They were very familiar with divorce since half of the came from one-parent households as did many of their friends.

So, yes, they value friends over family which is why the so-called sitcom Friends resonated with them.

Wealth is also something that must be valued, or have a positive attitude or belief, and the Generations differ on those values, attitudes, and beliefs toward wealth.

Wealth doesn't fall out of the sky. It has to be created and to do that one must set goals and work toward those goals.

And you have the gall to castigate some because other people absolutely refuse to do what needs to be done to generate wealth.

Your many charts of nothing from your propaganda website are flawed.

How many people who don't have wealth actually want wealth?

How many people who don't have wealth are willing to do what needs to be done to generate wealth?

How many people who don't have wealth but want it actually have the mental prowess to generate wealth?

Redo your fancy charts based on that and see what they look like, because that would tell the true story but then neither you nor your propaganda website are interested in the true story.

I think you brought up some very good points.
One of the battle cries of the repressed younger people is they can’t afford to buy a house. But it also seems many don’t want a house because they don’t want to be tied down or the financial commitments so does this skew anything?
I also believe younger people have different values and what they are willing to sacrifice for them.

[ALackOfCreativity]

Originally Posted by aslowdodge

I think you brought up some very good points.
One of the battle cries of the repressed younger people is they can’t afford to buy a house. But it also seems many don’t want a house because they don’t want to be tied down or the financial commitments so does this skew anything?
I also believe younger people have different values and what they are willing to sacrifice for them.

The younger people are not generally repressed with a battle cry around housing. Housing is THE specific problem issue for younger people in America, with college degree credentialism + cost inflation running a distant second. Outside those two things everything else is more or less improving (economically at least, global warming could get ugly within the lifetime of gen Z).

As to not "wanting" a house, depends on life stage; if you are single then yeah moving to chase opportunity and maximize income on one end and living in frugal housing situations to conserve/invest cash on the other is a totally viable way to do things (I did this and it made me very well off at a young age). Once you want to start a family or set down roots - and most people do eventually - it's a huge problem.

As to different values, nah, people want to own a home once they have a family as much as past generations did there are just higher cost barriers as a consequence of NIMBY building restrictions.

[herringbone]

Oh, the insolence of the useless youth!

The poor, entitled, jealous youth!

We, their elders, have lived thru harder times by orders of magnitude!

What can all the complaining mean? or amount to?

Simply Nothing!

They have a plethora of prescribed or non-prescribed drugs fully available to them that can alleviate their fears of climate change, their inability to learn to think logically in their dumbed down schools, their stupidity in not understanding the undertaking of massive loans to pay for english majors, their lack of stable societal norms, their constant bombardment with social media, their fears of the collapse of civilization, their concerns about financial insecurity, the poverty they witness, or experience, and their perhaps lack of any substantive family... and even their very own defined personhood and sexual identity which we now know is on a spectrum and not defined, to their infinite well-being.

No, no! Anyone can see that it's glorious to be young in today's world and any complaints about wealth or anything else must surely be attributed to the failings of the individual to be properly thankful for this ceaselessly, pleasant world we elders have tirelessly worked to pass along to them!

I join you all in being personally affronted by youth's ingratitude.

[moguldreamer]

Originally Posted by Mircea

The phrase is an idiom. How sad you can't understand that.



English language fail.

To coin means "to mint or stamp metals for money."

Note it says nothing about bullion.

Money is "metal coined for the purposes of commerce."

The metal need not be of any particular ore. Those are the only acceptable definitions because they come from:

A DICTIONARY OF THE ENGLISH LANGUAGE IN WHICH The WORDS are deduced from their ORIGINALS, Explained in their Different Meanings, AND Authorised by the NAMES of the WRITERS in whose WORKS they are found.

Abstracted from the Folio Edition by the AUTHOR SAMUEL JOHNSON, AM. To WHICH are PREFIXED, a GRAMMAR of the ENGLISH LANGUAGE, and The PREFACE to the Folio Edition.

10th Edition

London, 1785.

And that is what the Framers of the Constitution used when writing it. Earlier editions of the same dictionary were used when drafting the Declaration of Independence and the Articles of Confederation.



You're the only one engaging in the fallacy of equivocation by equivocating metal with bullion.



Yes, there has. I have a jar full of money.

There is no requirement for money to ever be coined in gold.



That's a false statement. Social Security numbers were not created until after 1935 and only SSA had access to them. Obviously, you're not old enough to have a social security card that says "Not for identification purposes."

IRS access to SSA data is by search warrant only. The IRS did not start using social security numbers as tax-payer identification numbers until 1962.

The IRS and SSA are forbidden by statute from sharing data except under search warrant or subpoena.



Nobody cares what goat-herders living 2,000 years ago thought.

Interest is the price one pays to borrow money from another. Interest is not usurious unless it exceeds the interest rate set by Supply & Demand.

Money, like all resources, is finite and subject to the Laws of Supply & Demand.



That's a false statement and the fact that you rely on Pukipedia only reinforces you don't know what you're talking about.



The use of gold is optional, not required, and all of your nonsense hinges on that fallacy.



Again, no one cares what ignorant goat-herders who had no understanding of economics thought.



Real investors write promissory notes.

I put up $10,000 in a promissory note for 8 years at 14% interest.

You buy $10,000 "worth" of stocks. After 8 years, what do you got?

In the event of a Chapter 11 or Chapter 7 bankruptcy, I'm either a secured creditor or a priority unsecured creditor (depending on how the note was written.)

I get paid in full. You as the lowest ranking unsecured creditor get nothing.

Shortly after joining C-D, I muted jetgraphics for all the obvious reasons.

[Wile E. Coyote]

I don't read anything that is more than a couple of paragraphs. If you cannot succinctly summarize something you don't know what you are talking about. LOL. Of course, with MJ he doesn't do paragraphs. So, I read his stuff.

[norman_w]

Here's how you make wealth: You own a storage unit facility.