Baby Boomers are fond of reminiscing about the good old days and how they had it tougher than the current generation. However, the reality is that their time was marked by many advantages that are no longer available today. For instance:
- You could get a well-paying job without a high school diploma
- Regular raises were common
- Housing was more affordable, often achievable with only one income
- Life was less hectic and stressful
- Workloads were less intense, and overtime was paid with extra benefits
- The cost of important things, like education, was significantly lower
Additionally, credit scores didn't exist, and elected officials didn't prioritize corporate interests over workers' rights. Politicians werent selling our natural resources rights to foreign countries. People from foreign dictatorships werent as easily able to launder their money here and buy up all the resources, land and houses. . Women weren't yet fully integrated into the workforce, which meant there was less competition for jobs and wages. This led to a smaller workforce with higher wages, but once women entered the workforce en masse, wages stagnated and w rates rose.
It's worth noting that Baby Boomers have had to deal with higher unemployment rates themselves, which makes their criticism of younger generations' work ethic seem hypocritical. But why do they refuse to acknowledge these advantages? Perhaps it's because doing so would also require them to admit that they collectively mismanaged the country's economy, leaving a debt burden for future generations. Instead of facing their own responsibility, they'd rather shift the blame to younger generations.
Were there problems when boomers were young? Sure. But boomers made it infinitely worse for everyone after them.
I could go on and on. but you probably will ignore this, and rather pretend you are some financial genius because you know how to invest in the S&P 500.
(btw despite my username, I do not have a trustfund)
