Stingy Millenials Blamed For Whole Economy
cnbc.com/2019/10/06/millennials-are-to-blame-...
cnbc.comPosted Oct 6, 2019, 6:17 PM UTC
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cnbc.comSo....are we spending so much on advocado toast that we can't afford a house or are we hoarding so much wealth we are destroying the economy? It can't be both.
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Hey now you can afford a house just get this nice new mortgage we rolled out for $800,000 at 1% interest over 140 years!
I promise I won't immediately seize your house and whatever money you have left if the economy takes a giant shit!
Rubs grubby banker hands together
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We would love to spend more money.
Really, we would fucking love to.
Funny that we don’t. I wonder what has gotten into us. Probably too much screen time and nothing to do with what’s shaping up to be a generation of poverty
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Oof this hits
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This is just more evidence that Keynes was correct. He was a true genius like we have rarely seen.
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Then libertarian hacks ruined everything.
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According to data from the St. Louis Federal Reserve, the current U.S. personal savings rate, defined as income minus spending, is 8.1% as of August. By comparison, in 1996 the rate was 5.7%.
I’m no economist, but I don’t think a difference of less than 3% is what’s setting the economy off balance, especially when their own graph shows rates above 10% consistently in the 70s. Where was the shuttering economy then?
What if we imagined a world where people receive enough money and then they have enough to save and spend?
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Yeah, and we're straight-up told that we need to be saving at least 10% of our income. Our savings rate is a problem: it's too low.
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Bitch, we have no money
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NoWage.OnlySpend.gif
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Who would have known that exporting the middle class to Asia would cause a massive decrease in discretionary spending by the native middle class.
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Ditto doubling the entire workforce in the name of "liberation".
Supply and demand? What are those?
And why can't I find an economically attractive man?!?! They must be all Peter Pans!
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This article shames millennials for "saving" too much money and that its apparently making the economy "sluggish". Not the corporations not paying workers? Not the crippling student debt? That has nothing to do with it? 🙄🙄🙄
I work retail and most of our customers are boomers and silent generation. I hardly ever see my age( obv. millenials. ) and I thought to myself, "what is this store going to do once the boomers run out of money or start holding back because its retirement time?"
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Stores will be for rich people by then and the door won't even open without an amex platinum or higher.
Your store will be turned into self storage for boomers to hold on to all their memories and cherished treasures.
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Lmao!🤣 it probably will happen tho..if they dont shut down due to "low sales" as in less than a million dollar day🙄
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I live in a town where popular restaurants are closing because they can't keep up with the rent.
I was in a high end shopping mall last weekend and I noticed an out of place looking store selling coins and stamps, very plain. I had a nice chat with the owner about my collection of blood money and he gave me a very interesting history lesson that made hostel seem like euro trip in comparison. He convinced me that he had something horrifically evil to sell me. I won't say what it was but I bought it and haven't been able to shake the feeling that it's cursed because it was only hours later before I managed to chop off the end of my finger!
Since he was so friendly and interesting to talk to I asked about the state of his business and high costs of operation. He told me it's better and better all the time because the heavy cosmopolitan traffic meant that rich people from all over the world would come in make drop tens of thousands of dollars or more on impulse purchases. He was quite the salesman in his own way so I could see how this would happen.
So there you go, the rest of us just live here but the world belongs to people who wipe their ass 10k at a time.
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The U.S. personal savings rate is rising, and it’s holding back the economy, says Raymond James.
It's almost like watching our parents struggle through the recession with no savings catalysed us to... Actually save money. So that doesn't happen to us.
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When I was growing up people told me saving money and not wasting it was a good thing. Seriously, what the fuck happened?
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They don't actually mean it. Most of the savings advice we got growing up was awful anyhow. I doubt most of the people teaching the classes have done half the shit they talk about.
Well sonny you put it into a savings account and by golly after a few years of not going to the doctor you'll have made 18 dollars interest. Then you take that and put it into a mutual fund and one day you'll be able to swim in a bin of gold coins.
Someone paid all these chumps to talk to me at various times in my life but somehow it took my bank to tell me I needed like double my tax refund to even think about a mutual fund.
Maybe things are better since I was a kid but I doubt it. I'm sure that they asked some fund manager who robs his elderly clients like 2% of their wealth every year.
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I save 50%. Fuck y'all who are saving ~8% you're going to get fucked some day.
And fuck your business trying to siphon off my hard earned money. Especially fuck the tone deaf and evil corporations that make up media and entertainment. I've paid for two movie tickets in the last year, both movies were terrible. Fuck you pedowood.
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I save 50%. Fuck y'all who are saving ~8% you're going to get fucked some day.
Awesome for you, some of us have to pay sky-high rents
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Hahahah I guess. I like your anger though.
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1970-2010: This just in 380% of americans won't retire with enough money to breathe air after retirement; not enough savings for coffins when they're dead. Also credit card debt is growing at an alarming infinity per month.
Now: Fucking kids still are way behind in retirement, paying off college debt, but what the fuck junior get out there and buy a goddamn riding lawnmower like a man you bitch!
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Imagine if people were actually allowed to spend our money on something other than Devos' armada err I mean education yeah that's it education.
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I jokingly told my mom that in the new economy, you don't pay for things with cash. Instead, you walk up to the cash register and fill out a loan application.
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Spending money we don’t have to buy things we don’t need to impress people we don’t like. It’s the American way.
/s
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First we spend too much money and now we’re too stingy.......fucking boomers make up your senile minds
They are full of contradictions and will shit on us no matter what we do.
It's almost like they're a bunch of reactionary fuckwits with no actual ideology or values
Other than shop, consume, hoard, project
I feel like a lot of them have no hobbies other than buy more things
Yes!! Yes! Yes! Keep saying it! Keep mocking the lifestyle!!
We need this to become as embarrassing as alcoholism and gambling addiction!!!!
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