>Boomers print infinite amounts of money for personal gain over a period of 30+ years, with zero regard for how it will affect future generations
>Millenials and zoomers are demanding that reckless moneyprinting is stopped and are willing to endure short term financial pain for long term financial stability for future generations
What the actual frick was boomers problem? Was it cultural? The "frick you, got mine" capitalism-on-steroids from the 80s? Was it brain damage from exposure to lead in paint? Did too many central bankers gnaw on toys covered in lead-paint when they were young?
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I don't know how millennials can be broke. I'm an early zoomer and I am probably going to retire in my mid 30s due to my investments.
the moment millenials started graduating, the 2008 crisis hit and nuked the job market for like 4-5 years. people on IQfy being smart enough to get into crypto to profit from the insane moneyprinting doesnt really change reality for 90% of ordinary millenials and zoomers who are getting financially assfricked. dont develop a greedy boomer mentality and pull the ladder up just because you made it while the most people are struggling
I've only made $5k from crypto but I have been working since I was 15 years old and saving most of my money. I honestly think that the instant gratification mindset has ruined most millennials and zoomers since they won't save money for the future
you dont even have a 6 figure folio and you think you’ll be retiring in your 30s? or do you have a 7 figure stock folio you’re not telling us about? if not, do you think the stock market will keep pumping +30% every year for the next 15 years like this is the new normal? this is not normal and it will not last for much longer
All my money are in index funds and I don't invest in crypto at all. That $5k in gains is from holding crypto that I got from selling CSGO skins. I have $675k in my non-registered account and $110k in my TFSA.
>mid-6 figs in an index fund that is barely able to keep up with inflation
>thinks he'll be retiring in his mid-30s
You're much better off than most people your age, but your expectations are detached from reality. The purchasing power of those $675k will most likely be the equivalent of $800-900k in todays dollars. Would you be able to retire today with $900k pre-tax?
>babby doesnt understand real growth vs nominal growth and thinks the 3-4% in annual real growth from his index fund will allow him to retire in 10 years
Grim
If I showed you what most index fund charts look like when you actually account for inflation, you’d scream out of frustration. The number in your account goes up, but the amount of goods and services those big numbers can buy are being eroded. Even if there is no economic downturn there is no way in hell you will be able to retire until you are in your 50s, unless you plan to move to Thailand or some other cheap country
not trying to be mean, but what are you doing on a business and finance board when your investment strategy is the same as risk averse grandmoms who spend 1 minute a year thinking about the financial markets? seems like a waste of time being here if you’re not going to use any of the knowledge gained to your advantage
i mean, it’s like spending several hours every week on IQfy and then refusing to do more than 10 pushups a day and eating junk food. like what’s the point?
Under 18s can't work without parental consent and under 16s need straight As. That already bars a huge % of the population, anon. You sound like a Boomer.
Thankfully I live in Alberta where the mentality is to pull yourself up with your bootstrap
That's ironic that Canadians can't pull themselves out of minority violence, trannies, absurd groceries, and homelessness. You think these larping hardass boomers would actually have the wherewithal to protect something that matters with how fricking lippy they are.
I met a cool dude in Tokyo last year who was from Alberta who I’m 99% sure was a IQfyner. Was that you?
You made it because someone else lost theirs.
Good.
Translation: I have inherited money and/or had financial help from family. Why didn’t you? It’s easy
natural rise and fall of an empire
a lot of people will credit the israelites for pulling the strings into a death spiral
but the reality is that weakness is that allows influence groups to creep into society, not the other way around
Ray Dalio is autistic about finance history and has covered this. It happens every time a big economic power is starting to lose power. During the transition phase where one economic power loses and another is gaining ground, people in power see the writing on the wall and start looting the public treasury to make sure they’re set
Ray Dalio is a fricking moron.
>bets everything on China
>oops, there goes their birthrate
>population decline sets in
>even fricking Yellen is threatening tariffs now since massive market dumping for 40 years is China's only hope of avoiding a generational crash
While the US were busy in the mideast for 20 years, China basically took over control of Africa, half of South America and a bunch of Asian countries using predatory loans to build infrastructure with the sole intention of extracting natural resources from those countries. China has its problems and I think the US retaining power would be a hundred times better for me personally, but it’s pretty clear where the world is headed and which country is going to become dominant. Just ask the gulf states like Saudi Arabia. They have no allegiance to anyone and go with whoever is winning. Guess who they are going with? They’re even willing to put their beef with their arch enemy Iran to rest because China asked them to as a favor. It sucks that they are winning but they are
And to add to this, the Western world sanctioning Russia up the ass and booting them from the financial system meant that Russia had no choice but to bend the knee and become a Chinese vassal to gain entry into their economic sphere of influence. Before this Russia and China considered eachother equals, but that’s a thing of the past
>lead in paint
Lead in gas fumes.
Then why arent all boomers brain damaged? In reality less than half of them are so you’d think the cause was something that certain people had more exposure to than others
Communism was a serious threat for 50 years and capitalist countries had to practice restraint to make sure we were viewed as the good and responsible option. When capitalism finally won and the USSR collapsed, boomers popped the champagne and launched a 30 year long party where free money was raining from the sky. The threat was gone so they could afford to be irresponsible. And now that the party is nearing its end, someone else will have to deal with the fallout. The boomers stocked up on rental properties and ‘68 mustangs so they’ll be fine
And was it greedy, selfish and stupid? Yes. Would millenials and zoomers have done the same if they were put into the same position? Yes, probably. Just look at all the people who were cheering on the covid stimulus. Wooo, we’re all getting $2000 for free, who cares about the inevitable inflation?
Nah, it's the generation that spent their youth in the .com bubble and housing boom and the peak of physical media profit wondering why everything's shit after it collapsed in on itself.
Starting salary for blue collar jobs in the 1970s was equivalent to $70-80 an hour in todays dollars when you factor in inflation and purchasing power. Meanwhile the mininum wage has remained unchanged at $7.25 for 15 fricking years despite the cost of living having more than doubled in that timeframe, lmao.
Zoomzooms and millenials would need to make more than $150k per year to have the same purchasing power as a 20 year old carpenter in the 1970s. Hilarious
Also, the reason millenias have such high expectations is because they’re the only ones who seem to understand and acknowledge these numbers
Every other generation would be satisfied with purchasing power equal to some 16 year old kid helping out at a construction site in the 70s. It’s laughable