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by mothballed
6 days ago
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A lot of those people were able to do it without debt which made it far less precarious. I have equally pessimistic view of the future so I built my house one piece of wood at a time with cash. I bought a piece of shit car with cash. I've never used debt, I just got all the things I have by buying shit cars and shit land and slowly slowly making things better until I have nice things. For much of the youth, this is impossible. The permitting and regulatory process for houses is hostile to slow and DIY building so even if you can get cheap land near jobs (you can) you can't do it without predicting 30 years of mortgage payments. The pandemic monetary policy (more recently) and cash-for-clunkers(longer ago) trashed the used car markets. Increased regulation, licensing, insurance requirements and liability made childcare far less affordable. Also in the old days "neglect" was stuff like actually starving your kids to death so if you were broke you could work or do domestic stuff to save money and leave them home or to run around outside without Karen having them snatched by CPS. Annihilation isn't so worrying, it's the surviving that's scary. |
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Dept is bad, but it isn't nearly as bad as the things they dealt with.