It is pretty insane that we just inflate bubbles over and over again. Higher

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Jun 3, 2020
6:03:25am

mokelembembe Truly Addicted User

It is pretty insane that we just inflate bubbles over and over again. Higher

interest rates would help a lot and squeeze some misallocated resources out of the system and prices on those big ticket life items would fall. The problem with that of course is that we have systemic institutions that would struggle with the higher rates.....but that's the only real answer to all the micro financial stuff.

This message has been modified

Originally posted on Jun 3, 2020 at 6:03:25am

Message modified by mokelembembe on Jun 3, 2020 at 6:09:14am

Message modified by mokelembembe on Jun 3, 2020 at 6:17:55am

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mokelembembe

Bio page: mokelembembe
Joined: Apr 27, 2005
Last login: Apr 19, 2024
Total posts: 18,364 (28 FO)

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Messages

Author

Time

<< Deleted >>

Garduno

6/2/20 11:20pm

Isn't sense of entitlement the knock on Millennials?

braddahmike

6/2/20 11:24pm

Actually being in major debt in a collapse

byukarl

6/2/20 11:24pm

<< Deleted >>

Buffalo

6/2/20 11:25pm

As long as there is some faith in the system perhaps

byukarl

6/2/20 11:40pm

There's no such thing as debt forgiveness. Someone always pays.

Cougarclaw

6/3/20 8:00am

Who pays for that debt forgiveness? The person that incurred the debt or his neighbor?

hitechcpa

6/3/20 9:58am

But only for those who have already defaulted. If you've been responsible, you

TailgateU

6/3/20 12:16pm

Millenials are 38 years old.

SandYFan

6/2/20 11:30pm

He may or may not be a millennial, depending on where in his 20s he is, but the hopelessness is definitely common

Mike Honcho

6/2/20 11:33pm

It's a pervasive ideology.

SandYFan

6/2/20 11:41pm

Basically everyone wants what mom and dad have worked for 20-30 years for, NOW

byu1

6/2/20 11:46pm

There is a lot more blame to go around than universities and their admin

CrimsonCoug81

6/2/20 11:56pm

At the same age, Boomers were in a much better financial position than Millenials are today.

Mike Honcho

6/3/20 12:00am

<< Deleted >>

bigbossbyu

6/3/20 2:14am

Well said. Since elementary school we’ve had it drilled into our heads that

bigbossbyu

6/3/20 2:17am

Created by dual income households becoming the norm,

cougfrvr

6/3/20 4:00am

Now imagine being born around 1900.

Harbinger

6/3/20 6:06am

They seemed happy enough

6/3/20 6:51am

Good point, there’s a winning message to convince our fellow millenials

Mike Honcho

6/3/20 8:09am

<< Deleted >>

Harbinger

6/3/20 8:15am

Babying them has worked so well.

Harbinger

6/3/20 8:15am

Just because others had it tougher doesn't mean they don't have it tough now

ZacSeljaas'Stache

6/3/20 10:54am

Certainly every generation has struggles. Not discounting that.

Harbinger

6/3/20 12:50pm

They think they had it harder than the generation that raised them and is

ZacSeljaas'Stache

6/3/20 1:28pm

I honestly don't think either of them have had it all that hard...

CoachSpeak

6/3/20 2:38pm

You just described my grandparents

BYUBandfan

6/4/20 9:41pm

<< Deleted >>

Abe Froman

6/3/20 6:25am

As a millenial I hate this attitude.

rad dawg

6/3/20 9:02am

I also think that there are more "needs" now than there used to be...

CoachSpeak

6/3/20 9:36am

I'm not a millennial but would have a hard time going back to pre-internet life

Colorado

6/3/20 9:42am

As would I...

CoachSpeak

6/3/20 9:50am

Probably $3-400/mo no one had in 80’s. Housing is a problem but also see the expectation

Soupie

6/3/20 9:55am

Those are good points...

CoachSpeak

6/3/20 10:29am

My father flipped when my brother built his first house at 22 in 1993.

StalwartBraveTrue

6/3/20 12:41pm

We managed to build our first house in our mid-20's in early 90's for less than $100k but that was b/c FiL was a builder

Soupie

6/3/20 12:54pm

Ill bite.

rad dawg

6/3/20 10:43am

I don't disagree with any of that...

CoachSpeak

6/3/20 10:53am

Lol, millennials don’t subscribe to cable packages.

messi

6/3/20 3:03pm

They pay for television in some manner.

CoachSpeak

6/3/20 3:54pm

In regards to discipline this generation (which I am a part of) does not have

ballen

6/3/20 1:27pm

Accurate points, but you are correct that Bernie is not the answer. We need more

TailgateU

6/3/20 9:19am

The price of this house proves your point

ZacSeljaas'Stache

6/3/20 10:54am

My parents bought a house very similar to that in Provo in 1980 for $72,000.00

CoachSpeak

6/3/20 11:02am

That would be about 225k today. It's incredible to see the difference! That's

TailgateU

6/3/20 12:16pm

Or move down the road just a bit to this for $150k less. In a few years you sell for a profit & jump to something

Soupie

6/3/20 12:34pm

Value will only go up if there is demand and supply is restricted. Once Boomers

TailgateU

6/3/20 2:09pm

All those factors have always and will always exist for every generation. Not unique to people now. We lost

Soupie

6/3/20 2:12pm

Looks great, unless you have school aged kids

Mike Honcho

6/3/20 2:21pm

See what's in better boundaries. Just meant to be an example. I know some areas will be tough. May need to stretch

Soupie

6/3/20 2:44pm

Sure, and I'm giving you an example of why it's not just as easy as "quit being so picky and just move down the street"

Mike Honcho

6/3/20 2:48pm

Fair enough. Cottonwood heights is quite pricey so most places down the street will be better.

Soupie

6/3/20 3:11pm

I have no idea what the real estate market is in Utah. But generally speaking, you can pick 2: affordable, good schools,

Mike Honcho

6/3/20 4:52pm

LOL millennials were not graduating college around the dot-com bust. You are

Mitty

6/3/20 6:06pm

Millenials were born between 81/82 and 96, according to most places. That would put them around 20 years old during the

Mike Honcho

6/3/20 6:15pm

81/82 is too early for the types of people that are associated the word

Mitty

6/3/20 6:43pm

how you associate the word is your problem. You don’t get to just redefine something because people misunderstand it

Mike Honcho

6/3/20 6:47pm

Boomers didn’t have

6/4/20 7:56am

Well, money is out there if they don't mind taking it.

Belboz

6/2/20 11:52pm

Sounds a lot like what happened to the nephites over time.

Rat

6/3/20 12:12am

What an idiot. A lot of those perceived financial shortcomings would go away if Millennials would stop

unctoothman

6/3/20 12:34am

RE: What an idiot. A lot of those perceived financial shortcomings would go away if Millennials would stop

Soupie

6/3/20 12:42am

Agreed- traveling is another thing. Generally, our parents lived more simply.

byusage

6/3/20 7:47am

I don’t know what the op said, but your post is not good.

messi

6/3/20 8:45am

And yet everyone is still spending money on things they don't need.

byusage

6/3/20 9:16am

I don't disagree, but I don't agree.

Whiskey

6/3/20 1:02am

I’m 24, and what’s frustrating for me is that I am working through school to

yaxcoug

6/3/20 1:19am

The housing market is definitely annoying.

JuicyJam

6/3/20 7:26am

Not sure we can blame millennials for the “rack up the debt” attitude. This

chilango

6/3/20 3:19am

Agreed

6/3/20 5:23am

Millennial did help create them. When the first millennials came of age, the

Harbinger

6/3/20 6:12am

There is basically no economic data that support this view.

6/3/20 6:20am

Harbinger reads "jingoistic claptrap":

6/3/20 6:26am

Lol 100% of the economic data supports this view.

Harbinger

6/3/20 6:27am

Im a millenial who has busted my tail for 15 years to avoid debt and get ahead.

Backcountry

6/3/20 3:40am

Millennial here. Significant student debt, disagree completely with your coworke

Taullis

6/3/20 7:09am

Im in the same boat, so I feel ya. But I despise the word "unfair".

Backcountry

6/3/20 10:29am

We have the exact same plan and similar situation. 8-years to be debt free.

Taullis

6/3/20 11:08am

Thats ambitious. Way to go.

Backcountry

6/3/20 11:22am

<< Deleted >>

Abe Froman

6/3/20 5:23am

I think the cause is that Millennials are told since birth to go to college and

CObluezone

6/3/20 5:40am

Older millennial checking in - I've never heard that. I'm sure some feel that wa

vagabonder

6/3/20 5:49am

As a millennial, let me just say: millennial are the worst generation in

Harbinger

6/3/20 5:57am

Amen. Chattel slavery is nothing compared to avocado toast 🍞 🥑

6/3/20 6:08am

lol. Baby boomers would like a word with you.

6/3/20 7:04am

You don't even seem to know what is considered a millennial

Baron

6/3/20 7:47am

Sure I do. Born between the early eighties and the mid 90's. It would seem that

Harbinger

6/3/20 8:05am

I'm glad Google could help you out.

Baron

6/3/20 8:17am

It did about 15 years ago when I didn't know I was a millennial. Glad I could

Harbinger

6/3/20 8:18am

I don’t know any millennials like that. The ones I work with or go to church

6/3/20 6:02am

It is pretty insane that we just inflate bubbles over and over again. Higher

mokelembembe

6/3/20 6:03am

This guy would have loved living through Jimmy Carter.

Harbinger

6/3/20 6:19am

I think this coworker is overly dramatic. First, there is hardly a consensus

Little Britches

6/3/20 6:18am

70% of millennials would vote socialist if they could. No other generation has

Harbinger

6/3/20 6:23am

Where is the polling data on the young groups from the 60s and 70s? Not saying

Little Britches

6/3/20 6:48am

Another thing about millennials: never citing their statistics or sources. Uggh.

6/3/20 7:06am

The worst right?

Harbinger

6/3/20 7:26am

It is the doctrine of envy that our "leaders" have instilled into our society.

coolblue

6/3/20 6:27am

RE: Heard this today from a coworker about millennials.

JuicyJam

6/3/20 7:10am

I think he is not a millennial.

6/3/20 7:39am

You work with an idiot. Each generation has them. How old is he? 35?

Baron

6/3/20 8:05am

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