Hacker News new | ask | show | jobs
by researcher11 3379 days ago
What is stereotypical and divorced from reality are the things you are missing.

The economy is structured as a ponzi scheme. The ponzi scheme will collapse and many unsympathetic boomers will go broke.

To take your interest rate example. Prices are inversely correlated to interest rates. If you buy when interest rates are high (low prices) and sell when interest rates are low (high prices) then you benefit enormously. Since interest rates are pretty much as low as they can go then there is no upside left for millennials. Only downside. I, like many millennials, wish for much much higher interest rates. Low interest rates are another wealth transfer from those with earnings (millennials) to those with capital (boomers).

I do not suggest that all millennial complaints are valid. I'm simply saying that they shouldn't be dismissed with technological handwaving. The hidden message in the complaints is that we're in this together. The ponzi scheme economy hurts all of us.