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comment by am_Unition
am_Unition  ·  2069 days ago  ·  link  ·    ·  parent  ·  post: Study: Bachelor, bachelorette parties are why millennials can't afford houses

I have no need to read the story, but I thoroughly enjoyed your rant.

Ran into a baby boomer at the beach yesterday who jokingly told my friends and I to keep working and paying into social security so he can keep on living the good life. I didn't like him too much.



tacocat  ·  2069 days ago  ·  link  ·  

General strike for 17-36 year olds?

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kleinbl00  ·  2069 days ago  ·  link  ·  

Totally unnecessary.

IF - retirement accounts are made up of equities

and

IF - the goal is to live off the sale of those equities in retirement

and

IF - for every seller there must be a buyer

THEN - the 'boomers, who have big houses and 401(k)s flush with stocks, have to fund their retirements by selling their houses and stocks to GenX (who have a lot less) and Millennials (who have fuckall).

That's not going to be good for prices. Which is not going to be good for retirement.

And the world just doesn't need that many Walmart greeters.

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user-inactivated  ·  2069 days ago  ·  link  ·  

Random aside, have you noticed in the recent years terms like "dive," "drop," and "crash" have all been placed with "correction." I even started using that term without really thinking about it. I wonder where, why, and how that whole bit started.

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kleinbl00  ·  2069 days ago  ·  link  ·  

If it happened, it's a "dive" "drop" or "crash" because it's in the past and we don't have to trouble ourselves with it. If it's about to happen it's a "correction" or "reversion to the mean". My favorite is that when your bonds were devalued you took a "loss." But when your bonds are about to be devalued you're due for a "haircut."

The stewardesses tell you what to do "in the event of a water landing." But when they pull you out of the ocean they'll say you died in a plane crash.

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user-inactivated  ·  2069 days ago  ·  link  ·  

Ah. So I guess I've been hearing "correction" like crazy the past few years because everyone just keeps expecting it to happen. I think for everyone's next "haircut," the barber is gonna skip the clippers and go straight for a weed wacker.

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kleinbl00  ·  2068 days ago  ·  link  ·  

    I think for everyone's next "haircut," the barber is gonna skip the clippers and go straight for a weed wacker.

The technical term you're looking for is "debt supercycle."

Things get a little kabbalistic at this point - it ties back to Strauss-Howe Generational Theory, which views history kind of like the Chinese zodiac in that there are periods ("saeculums") that govern human history and everything repeats every four generations. This is the philosophy underpinning Steve Bannon's craziness, by the way - he's trying to hasten things so that we can start over again in our glorious new future after passing through The Troubles. It's kind of like how all the evangelicals are behind Israel because they're waiting for their red heifer so that the Rapture can begin except that in economics, if enough people believe it and enough people act on it, it happens.

John Mauldin, who has a wealth-management newsletter with a million subscribers, is selling his $4m penthouse in Dallas.

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user-inactivated  ·  2068 days ago  ·  link  ·  

Thanks for the extra information.

Interestingly enough, you're the second person in as many days that I've heard use apocalyptic imagery to describe current events.

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tacocat  ·  2069 days ago  ·  link  ·  

Are you taking serious the idea of everyone born in a 20 year period not working out of spite?

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kleinbl00  ·  2069 days ago  ·  link  ·  

Nope. I'm observing that the 'boomers are hella more fucked than they realize.

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tacocat  ·  2069 days ago  ·  link  ·  

Who can explain this to them in a way that will get them to shut the fuck up?

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kleinbl00  ·  2069 days ago  ·  link  ·  

Telling the largest demographic in the United States "you're fucked" is pretty much how Trump got elected.

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tacocat  ·  2069 days ago  ·  link  ·  

It didn't quiet them down though.

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