[La lamy]

I know I've been very fortunate to have been employed doing what I wanted until I chose to retire at 55. But I WORKED MY ASS OFF to train for it and keep getting better. I came from a middle class family where all was paid with cash, DEBT WAS ABSOLUTELY NOT AN OPTION. So we held our cars and clothes until they were run down, only went to restaurants on special occasions, built/repaired everything ourselves, and went camping for holidays. Nowadays it seems the younger generation want their parent's hard earned standard of living right away instead of slowly working towards it. I see videos of young people whining they have it bad, while they're in their car!!! I didn't have a car until I could fully pay for it. Big difference. I blame lack of work ethics, humility, and credit cards/loans, for a lot of the woes.

[Michael 61]

Originally Posted by La lamy

I know I've been very fortunate to have been employed doing what I wanted until I chose to retire at 55. But I WORKED MY ASS OFF to train for it and keep getting better. I came from a middle class family where all was paid with cash, DEBT WAS ABSOLUTELY NOT AN OPTION. So we held our cars and clothes until they were run down, only went to restaurants on special occasions, built/repaired everything ourselves, and went camping for holidays. Nowadays it seems the younger generation want their parent's hard earned standard of living right away instead of slowly working towards it. I see videos of young people whining they have it bad, while they're in their car!!! I didn't have a car until I could fully pay for it. Big difference. I blame lack of work ethics, humility, and credit cards/loans, for a lot of the woes.

Well said!

[Blackbird45]

If the issue is the media, you have to understand no matter what you watch or what you're leaning, the media will hype whatever story they can get their hands on. If the media does not go to extremes either positive or negative most people would not pay attention.

[Dilligas]

Originally Posted by Blackbird45

If the issue is the media, you have to understand no matter what you watch or what you're leaning, the media will hype whatever story they can get their hands on. If the media does not go to extremes either positive or negative most people would not pay attention.

We have always had misleading media … newspapers (selling ads to exist), social media (gossip over fences, barbershops, beauty salons, water coolers @ work, billboards, etc), and politicians. It’s always been only partially factual to allow for interested audiences. The differences today is more penetrating means of communication….instant news in internet, deeper audiences via TV than radio/newspapers, social media blogs. Unfortunately, we also have more visibility of extremes…..right wing versus left left wing politics, have versus have nots, legal versus illegal, and litigation systems left open for the taking. Similar problems viewed with bigger magnifying glasses.

[midiwiz]

Originally Posted by Altavia

It seems like all we hear from the media lately is how bad off we are – when the facts say just the opposite.

One point of view:

5 Questions I Have About the Economy - A Wealth of Common Sense

That's fine if you want to rely on non credible sources. if you want a real barometer, just look at the interest rate hikes the fed is doing. The reality is that those hikes are to the discount rate (rate banks pay to the fed for use of the funds) the actual effect of rate hikes is practically nothing. They have a way to whack inflation quickly, yet no one is discussing it.

[Whitley]

Originally Posted by asianthree

I hope so or there was something very wrong with parenting skills. One Learns by mistake made, and hopes to improve next gens life.

So the current generation pays 52K a year for college tuition (if they go), faces 20% inflation over three years, and it is their parents fault?

[Whitley]

Originally Posted by La lamy

I know I've been very fortunate to have been employed doing what I wanted until I chose to retire at 55. But I WORKED MY ASS OFF to train for it and keep getting better. I came from a middle class family where all was paid with cash, DEBT WAS ABSOLUTELY NOT AN OPTION. So we held our cars and clothes until they were run down, only went to restaurants on special occasions, built/repaired everything ourselves, and went camping for holidays. Nowadays it seems the younger generation want their parent's hard earned standard of living right away instead of slowly working towards it. I see videos of young people whining they have it bad, while they're in their car!!! I didn't have a car until I could fully pay for it. Big difference. I blame lack of work ethics, humility, and credit cards/loans, for a lot of the woes.

Everyone thinks they worked harder than the following generation, myself included. I do believe, however, that we had more opportunities to achieve "grown up" ( A house, children, new car)milestones vs current generations The cost of housing, education, transportation and food have all gone up without income keeping pace. I did research for a paper showing cost of living in relation to income from 1990 to now. As a boomer I say the current generation(s) do not have the opportunities we did.

[Cindyd]

Obviously, you didn't read the article.
Debt is not good, whether you're a family or country.

To not think inflation and open borders arent a problem, Is naive. open your eyes.
How many seniors have gone back to work? How many working class parents are working two jobs? Why has % of people living in poverty increased? Tip: dont get your "news" from The Alantic QUOTE=Altavia;2281638]It seems like all we hear from the media lately is how bad off we are – when the facts say just the opposite.

One point of view:

5 Questions I Have About the Economy - A Wealth of Common Sense[/QUOTE]

[Wondering]

The only media outlets who are painting a bad outlook are the 'Noise" cable networks - Fox, Newsmax One America, and all the other conspiracy, propaganda outlets. Eggs are back to normal prices, gas is in mid $2 range in many areas of the country. Products that are high in price is due to corporate greed - Look at their record profits. They are trying to make up for lost revenue during the pandemic.

[Pennyt]

Originally Posted by cjrjck

Seriously, did you even read the article?

1. Why do people keep spending money if the economy is so terrible? We are spending money like crazy. That has to be a good thing, right? But wait:
2. Total credit card debt going over a round number like $1 trillion is scary. Uh oh. But let's not forget inflation is up 20 percent since 2020 so spending isn't as bad as it seems. Author just skims over the "inflation is up 20 percent" in 3 years like that is not a big deal in and of itself.
3. Young people in the first-time homebuyer stage of life have it worst of all, but don't worry,
4. Baby boomers will start dying off in 2030 freeing up home inventory. What? Like all of sudden despite inflation and record household debt Gen Zers will magically be able to afford new homes after the boomers leave the scene? Right.The article in Quoting The Atlantic says it is going to be a long time until houses are affordable again but the author is optimistic things will eventually get better. How quaint. I'll go a step further and say things will eventually get better, then worse, then better..... Hey it will rain, and then stop, then rain again.
5. Are economic sentiment gauges broken forever?Author tries to make a point that the economy is going strong despite how people feel about it. It's our fault for feeling like we do. I just look up at the previous points raised that household debt (and public debt) is higher than it has ever been, that inflation is up 20 percent over the last three years, and that young people (and many older people) can't afford to buy a house and likely won't for a long time and I have to wonder how you saw anything positive in this article? Still, I can't fault a person who sees a silver lining in a very dark cloud. Maybe we all need that perspective.

1. Just saw today that inflation is down to 3.2% which is a significant drop from the past 2 years.
2. Mortgage rates are slowly dropping - back when I bought my first house, interest rates were over 13%. I would have thought 7% was a bargain!
3. Gasoline prices are down -we've always been much cheaper than the rest of the world.
So, the media keeps repeating how awful we all have it. But I see that health insurance is now available to more people than ever before, drug prices are being negotiated so our prescription costs may drop, infrastructure is beginning to be improved which will create more jobs....to me that sounds like more good news than bad. Economies take time to react to policies. Things seem to be looking up!

[Bay Kid]

It fells like funny money.

[Jim1mack]

Nor do we.

[justjim]

Originally Posted by ThirdOfFive

“If it bleeds, it leads”.

Bad news draws viewers and generates hits. Good news, as a rule, doesn’t. And don’t forget that media is profit - as well as agenda-driven.

It is why I don’t watch or listen to “news” broadcasts any more.

A lot of people listen to what I call “opinion cable news”. Don’t have to tell you what those are as you already know. There is news without opinion. PBS and local channel news are best IMHO.

[Remembergoldenrule]

Originally Posted by cjrjck

Seriously, did you even read the article?

1. Why do people keep spending money if the economy is so terrible? We are spending money like crazy. That has to be a good thing, right? But wait:
2. Total credit card debt going over a round number like $1 trillion is scary. Uh oh. But let's not forget inflation is up 20 percent since 2020 so spending isn't as bad as it seems. Author just skims over the "inflation is up 20 percent" in 3 years like that is not a big deal in and of itself.
3. Young people in the first-time homebuyer stage of life have it worst of all, but don't worry,
4. Baby boomers will start dying off in 2030 freeing up home inventory. What? Like all of sudden despite inflation and record household debt Gen Zers will magically be able to afford new homes after the boomers leave the scene? Right.The article in Quoting The Atlantic says it is going to be a long time until houses are affordable again but the author is optimistic things will eventually get better. How quaint. I'll go a step further and say things will eventually get better, then worse, then better..... Hey it will rain, and then stop, then rain again.
5. Are economic sentiment gauges broken forever?Author tries to make a point that the economy is going strong despite how people feel about it. It's our fault for feeling like we do. I just look up at the previous points raised that household debt (and public debt) is higher than it has ever been, that inflation is up 20 percent over the last three years, and that young people (and many older people) can't afford to buy a house and likely won't for a long time and I have to wonder how you saw anything positive in this article? Still, I can't fault a person who sees a silver lining in a very dark cloud. Maybe we all need that perspective.

Exactly what I saw and thought. Other thing to keep in mind. While a lot of people here have good pensions, most civilian companies are now doing away with pensions and even the military has worse pension now. Those young people that can save are reliant on the stock market which is tied to debt and inflation. So if you really want to know what today’s generation is feeling. Look at starting salary of few regular jobs, then take out taxes, then look at rent or mortgage costs, property tax, healthcare premiums, day care costs, car costs, food for family of three or four, clothing costs for growing kids, braces, diapers, formula, ect. Major difference in what retirees get and need vs 20-40 year olds.

[fdpaq0580]

Originally Posted by Pennyt

1. Just saw today that inflation is down to 3.2% which is a significant drop from the past 2 years.
2. Mortgage rates are slowly dropping - back when I bought my first house, interest rates were over 13%. I would have thought 7% was a bargain!
3. Gasoline prices are down -we've always been much cheaper than the rest of the world.
So, the media keeps repeating how awful we all have it. But I see that health insurance is now available to more people than ever before, drug prices are being negotiated so our prescription costs may drop, infrastructure is beginning to be improved which will create more jobs....to me that sounds like more good news than bad. Economies take time to react to policies. Things seem to be looking up!

Yep! Job growth is great and unemployment down. If "the media" you listen to is all gloom and doom, may want to check-in on mainstream media sources once in a while to get a different perspective.