Housing is Unaffordable for Young People

[Digger88]

So this must be true if it's on Facebook. SMH

it's true (too large to post)

 

[Mike Ault]

Yes, I believe that the term stagflation was most likely coined in the 1970's. I was born in 1963, and graduated high school in 1981, and people who were not around in the 1970's do not realize how depressing that time was and how little confidence people had that things were going turn out okay for the US. We lost the Vietnam war, US manufacturing had completely hit the skids, it was unclear whether the West was going to actually prevail in the cold war (the extent of the rot in the Soviet system was not fully known at the time), there was a crisis of confidence in the US military, especially after the total debacle when the attempt to rescue the hostages in Iran went all wrong, there was double-digit inflation, and to top it all of, the President (Carter) came across as weak and ineffective.

Yes, I graduated high school in 1979 just-in-time to watch the outsourcing of America's industrial capacity overseas. I could be wrong, however I don't think we even built TVs in this country very far into the 80s. I distinctly remember watching a bunch of Congressman bravely announcing that the United States will not trade with "slave nations", and then shortly thereafter patting themselves on the back for outsourcing American labor relations to China.

 

[Joe Flacco]

The per capita GDP growth in the 2020's is averaging 1.9% (despite the massive 2020 pandemic downturn) versus 2.4% during the 1950's. If you really think 2.4% is twice as large as 1.9%, you are beyond help. The fact that per capita US GDP growth in the 1950's was somewhat higher (50 bps) should not be surprising since the manufacturing capacity of virtually all of our competitors had been almost completely destroyed during WWII.

When you started arguing with me, we were talking about 50's and 60's economy verusus what millenials experienced which is 2000's and the 2010's.

Stop trying to twist around the discussion. The economy the millenials got is not "remarkably consistent" with the boomers.

Mr economics, do you understand the difference between 4.5% compounded annual rate of growth over 30 years compared to 2.2% compounded annual rate of growth over 30 years?

Unbelievable.

 

[timd354]

Yes, I graduated high school in 1979 just-in-time to watch the outsourcing of America's industrial capacity overseas. I could be wrong, however I don't think we even built TVs in this country very far into the 80s. I distinctly remember watching a bunch of Congressman bravely announcing that the United States will not trade with "slave nations", and then shortly thereafter patting themselves on the back for outsourcing American labor relations to China.

I had an uncle who worked for Magnavox and believe it or not, tvs were manufactured in the old Magnavox plant until 2005 (though by that time Magnavox had been acquired by Phillips and the plant was being used to manufacture tvs that were being sold under te he AKAI brand name. However, most manufactures quit making tv's in the USA by the mid-1980's.

 

[Mejappz]

Yes, I graduated high school in 1979 just-in-time to watch the outsourcing of America's industrial capacity overseas. I could be wrong, however I don't think we even built TVs in this country very far into the 80s. I distinctly remember watching a bunch of Congressman bravely announcing that the United States will not trade with "slave nations", and then shortly thereafter patting themselves on the back for outsourcing American labor relations to China.

Milton Friedman and Paul Volker are two American villains who sold workers down the drain to save creditors. It was nice when Ameica produced things like cars and washing machines. Now, the only thing this Country produces is collateral debt obligations.

 

[Mejappz]

I should also add Thomas Sowell to the list along Milton Friedman. Henry Fiord was probably the only American who knew the importance of labor .

 

[Mike Ault]

I should also add Thomas Sowell to the list along Milton Friedman. Henry Fiord was probably the only American who knew the importance of labor .

Uh-oh, George is sure to scold you for that remark.

 

[Mejappz]

Uh-oh, George is sure to scold you for that remark.

I don’t get into arguments with crazed ideologues.

 

[Mike Ault]

I don’t get into arguments with crazed ideologues.

Yes you do.

 

[Mejappz]

Yes you do.

No I don’t. If I did I would spend my entire in the water cooler.