Shit storm is on the way.
- Thread starter Ceiling Cat
- Start date
No surprise, since car prices are ridiculous right now. Basically, people are paying what luxury car owners were paying a few years ago. Interest rates are obscene. Wages have not kept up with inflation. It's a perfect storm for disaster.
Lotsa people with big mortgages feel they need a 100K pick up or Audi or Mercedes, I know a couple.
The people that lived high on the hog in the past will suffer unnecessary self imposed humiliation due to the coming hard times. They will either sacrifice and struggle to have the luxury goods that they can not truly afford to show off, or they will reveal their shame when they can no longer keep up the charade.
If the storm happens, just remember to hunker down and remember the sun always shines after the storm.
Ya, the higher it builds up, the greater the fall. Canada escaped 2009 somewhat easily, not this time I suspect.
Yes, a LOT of money floating around the economy. Unfortunately, it seems to be 50+ and they're getting richer. 30 and below are absolutely fucked. We've screwed over our kids big time. Fucking old people.
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The over 65's had at least a 20 year head start on the under 45's. By the time the current under 45's reach 65 they too will have more spending power than the then under 45's.
As good as the old people have it today? Doubt it Boomer. Housing is 7x+ income, rent is higher as a result, food is a lot higher portion of the household budget, Energy costs are a significantly higher portion of a household budget, Income and other texes are significantly higher, never mind tuition at College/universities. Never mind the wage stagnation that has occurred for a number of reasons. This means less ability to save, invest, and other quality of life issues.
all this before “we must solve climate change” which really means less productivity, higher taxes, and a significant reduction in quality of life.
It’s going to get worse for the younger as old people rapaciously demand and take healthcare spaces and tax $ never mind long term care issues that the ‘be kind’ people will demand that the government solves.
We’ve fucked over our kids.
please feel to prove your case with something other than bonhomme homilies.
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This generation is fucked for sure. Owning a house is a pipe dream. Student loans and cost of lving financially cripple the young ones who are slaves to their gig economy jobs. Seems some have already given up even trying. These are supposed to be the most important people who will produce for the economy.
I'm an optimist. One has to be an optimist to remain sane in this world. The doomers and gloomers were saying the same "the world will end" when I was 25.
The question in my mind is whether we can produce enough STEM graduates to be world competitive. It has been said that the PRC has 20 universities the equivalent of MIT. Meanwhile, we create SJW who don't actually produce stuff but argue endlessly about pronouns.
The question in my mind is whether we can produce enough STEM graduates to be world competitive. It has been said that the PRC has 20 universities the equivalent of MIT. Meanwhile, we create SJW who don't actually produce stuff but argue endlessly about pronouns.
Housing is ridiculous but no one can deny that unemployment is low.
Alpha males are making more than ever.
Women are doing well because they are the majority in university and have the majority of government jobs.
A lot of average males are screwed because of all the changes that occured way back in the early 1980s.
Don't think it will be as bad as ppl say
...maybe a bit of down turn but if your a hard worker you will be fine
I agree with you on everything. Its clear how expensive life is costing. But I really think its important to capitalize on decisions at an early age. Education is important. Knowing the field of choice and what the salary will look like down the road is key to avoid major upsets. I'm not a gifted entrepreneur, therefore, I need school. In addition to school it also depends on who your partner is. I'm college educated and my partner has an MBA in finance. I make 250,000 and she makes 245,000. I started my career at an early age making 18,900. Then slowly started to climb the corporate ladder. I believe she started making 38,000 10 years ago. We both haven't reached the ceiling in our financial careers, however, at this current state of inflation we are not suffering. My true suffering took place when I was making18,900, student loans were kicking (120,000) and I had to still eat/sleep. I'm 47 and my partner is 39.
Anyways we have child. As much as I want her to do something she loves, I also want her to be financially secure which I feel is more important. Sorry that's the greedy side of me. I don't want her being stuck at a salary that restricts her living. I stress to the younger generation the following: live within your means and make as much money since you're spending most of your time there. I know its not easy man. I feel it. My financial hardships took place during school when you needed parents the most. ( mine were already dead - cancer ). If I can do it, so can anyone else. Pick your path wisely. Also pair up with someone who has the same ambition as you. If she doesn't - don't settle. Do it on your own then. Just my two cents. Life is getting tougher, therefore, I need to respond by sharpening my pencil. I learned quickly no one cares about my complaints.
On a random note, if anyone is looking for a significant career change or has kids who would make good aviators google " Pilot Shortage" . Jump on this train now. Its a global problem. American Airlines paying wide body Captains 590,000USD per year. Narrow body captains 475,000USD. Its the same for Corporate Pilot jobs as well flying for the 1 percent.
The Shortage Within the Shortage: - Aero Crew News
This month let’s look at a different aspect of the pilot shortage. Pretend you're a high-net-worth individual, sitting on your yacht in the middle of the Med, sipping a 50-year-old single malt and you get a call on the sat phone from your business aviation consultant. “We found a great...
aerocrewnews.com
