RE:Re:re:re: People Are Afraid This is not the first time costs have escalated faster than wages. Neither rarely (if ever) rise in tandem. Inflation always drives costs up first. Standard of living drops. Some jobs disappear forever, while required jobs persist and new jobs evolve. It's the ebb and flow of how a world run on fiat currency operates. The challenge this time is understanding which jobs are no longer needed due to the centralizing effect of tech and positioning yourself instead where you are needed.
As for the markets... they have always been a casino. Perhaps you're too young to remember fiascos like Dome Petroleum, Bre-X, Corel, Stelco, Uranium One, Enron, Nortel, etc, etc. Younger generations can either tuck their money away in a savings account and lose over time (as has always occurred) since the 1960s, or step up, adapt and learn how to play the game. That is life.
In real life no matter what they were told in their earlier years... there are no participation awards and no guarantee you get to live the life you think you are entitled to. They need to look critically at their situation and chart a better course. No one is going to do it for them no matter what they hear from politicians and leaders. Options exist. It may and likely will require significant sacrifice and risk... but options do exist. Everyone has experienced this unless born into true wealth and priviledge.
Rocket101 wrote: Your points are well taken ! But reality is also the fact of 180% home price appreciation in 10 yrs vs 38% in wages. Sure people can cut back , learn new skills, educate themselves and be more aware but again reality is wages haven't kept up with the costs of living plain and simple. Again for the ones who sacrificed etc 20 yrs benefited immensely from the rising tides. Today money earned buys nothing. Why??? Because the wise people are catching on to the schemes! The market is one large legalized casino that isn't even a true market for price discovery. Let the chips fall where they may but for younger people today the dreams of owning vs renting are becoming a stark reality. Not saying one is worse than the other. This is all on one's circumstances. Avg car price = ? Avg home price = avg everything = ? The fact is for central banks and gov't inflating the debt is easy just swipe and create. The consequences are for the consumers to deal with. Anyways happy bean roasting !
jmho