/biz/ - Business & Finance

[Anonymous No.667035]

Do we literally live in the shittiest generation? My parents are always saying shit like "oh, this back then was only 30 dollars", but back then the minimum wage was lower and money was harder to make.

Every time I talk about just taking my clothes in a suitcase and finding a new town to start over in people say that only worked in the 60's and 70's. Everyone says we have the shittiest inflation and economy we've had in awhile, but I still people my age buying motorcycles, snowmobiles, cars, and shit.

I also heard we have so many strict laws and shit these days because of all the dirty 60's hippies ruining everything. You can't even pitch a tent on a beach for a few days anymore, but I guess back then people did it freely.

I've given up on finding a job because of where I live. It fucking haunts me that I'll never be able to just run off to a beach and bum around and see this every day.

[Anonymous No.667041]

>Do we literally live in the shittiest generation?
No, we live like god-kings compared to only a few generations back.

[Anonymous No.667043]

>>667041
Really? I thought we just had flashier shit because of competition between brands and advancements in technology but with less financial freedom.

[Anonymous No.667045]

>>667041
Obviously he's talking about post-wars generations, nobody thinks we have it worse than XIXth century potato farmers.

[Anonymous No.667047]

>>667041
Sure our standard of life is better. But if I were to open a coffee shop at my street corner. It'll never become as big as starbucs.
if I open a business in my basement, itll never become as big as microsoft. Etc

[Anonymous No.667050]

>>667047
Why the fuck not? Businesses are still getting started.

[Anonymous No.667053]

>>667035
Hindsight bias. You can live in a tent right now on the big island in hawaii if you want.

They are half right but its not our fault. With everyone enetering the workforce (if at all) with a student loan ball and chain it hampers the ability to buy larger things like cars and homes (snowmobiles and.motorcycles arent 30k)

[Anonymous No.667055]

>>667047
And this is why Millennials are indeed the worst generation. "Eh, the corporations and the government are all keeping us down. Let's start an online petition."

You want to grow a franchise bigger than Starbucks? Get off your ass and do it.

[Anonymous No.667057]

>>667050
I agree with him. If you invent something new that people like they WILL buy it.

>>667053
>live in a tent right now on the big island of Hawaii

More info on this please? I thought Hawaii was 3 islands. Can you not do this in California or florida?

[Anonymous No.667058]

>>667047
Maybe if you do those things they won't, but successful business start all the time.
>>667043
No.

[Anonymous No.667075]

OP's feeling, and unemployment figures, especially in Yurop, are in my opinion the result of mislead expectations. It's as good a time as any to be an entrepreneur, but not so much to be an employee.

Everybody is educated now, compared to the 50s.
But in the meantime, if companies need for educated workers did increase, it just wasn't that much.
Therefore, when the job market requirment for educated workers was higher than availability, it was easy to get a job fitting your expectations, or even better. Now it's the exact opposite, so you got people with master's degrees who only get offered positions as secretaries.

[Anonymous No.667088]

>>667057
>I thought Hawaii was 3 islands.

i don't want to live on this planet anymore.

[Anonymous No.667092]

>>667088
it's not?

[Anonymous No.667100]

>>667092
Hawaii is technically 8 islands but only 3 are seriously populated and have modern infrastructure.

[Anonymous No.667102]

>>667041
>>667075
>>667047
>>667075
It's because of fiat money continually losing value, with wages not following, as well as the education inflation. Back in the boomer era, you could buy a new car with what, two months salaries? Families had the man working, and he could support the wife, two kids, a normal stand-alone house and at least one car. You could do all that on one salary, no problem.

Compared to even the 70's here (northern europe), your wage won't buy much. Houses and cars (for example) have gotten at least four times as expensive, even when you factor in the increased pay. A house would cost ~200k (in my currency, one decimal more than the dollar, usually) in the 70's, now it costs 2.5-3 million, but wages have only moved from maybe 8-10 to 18-25k.

Back in the boomer days, you'd get a job and then keep it pretty much for as long as you wanted, and it'd come with all the benefits as well. No third-party company pretend-hiring you so that the company you're actually working for can kick you out at any point (since they aren't actually hiring you, but a third party is).

>>667055
It's possible, but it'll have to either be such an impressive idea that people just shit themselves with joy when they encounter it, or a new field entirely. I think companies of the future will exist, like what Elon Musk is doing or whatever, but there'll hardly be another giant born in the already existing fields. Boomers have got that locked down, and they have billions to spend to make sure you can't catch up in any way.

>>667088
>>667092
8 "main" islands, apparently.

[Anonymous No.667120]

>>667092
Its 8 main islands but the archipelago has hundreds of small ones.

My buddy lived in the jungle for a year. He said avoid the militart base and its surroundings and avoid the beavhes that are just tent cities. He would shave and shower once a week at a gym and then panhandle once he looked presentable. He mostly ate leftovers from restaurant garbages but would occasionally splurge on like squid jerky. the trick was maintaining a fake address and the gym membershup so the panhandling worked and being far enough from others to not get aingled out and arrested.

Said he got baked and chilled on the beaches all day

[Anonymous No.667123]

>>667102
The "1950's dream world" thing isnt actually true. Many people still had to have 2 earners to make a living. Go research it a bit.

The idea that this was a grand time for men and women were super happy to be stay at home moms and that the mans factory job coverd everything is just propoganda that gets repeated without any fact checking. Over 40% of the women had jobs too and most of those households were hell. the divorces started in the 60's , im sorry buddy but "leave it to beaver" lied to you

[Anonymous No.667127]

>>667123
Let's put it this way:

My dad and I have the same career. When he was my age, he owned a nice home and had three rental properties. He had a collection of antique motorcycles too. He had a stay-at-home wife and three kids, and zero debt.

Like I said, I have the exact same job as him. I work just as hard.
My wife works full time. We have no kids and still rent an apartment. We have debt and few posessions.
Also I'm financially savier than my dad. He made lots of bad investments and could afford to recover. I haven't made any bad financial moves.

Things really were better back in the day.

[Anonymous No.667134]

>>667123
What you are forgetting

>>667127
and what you are lementing


is wage stagnation since 1970 which has not even come close to keeping up with inflation, much less the price of housing which has doubled in the last 15 years, and the cost of education which is basically unattainable without serious student loans for anyone outside of the top 10% of households in the US.

[Anonymous No.667143]

>>667134
Gold standard, ended 1972

[Anonymous No.667164]

>>667143
>fiat money caused wages to diverge from productivity

Is there anything /biz won't blame on fiat currency?

[Anonymous No.667166]

>>667143
Guess ol' Rothby was right after all, eh?

[Anonymous No.667175]

>>667053
>Hindsight bias
That's not what hindsight bias is. I think you mean confirmation bias in that OP is cherrypicking things that confirm his beliefs that "back then, life was better".

[Anonymous No.667180]

>>667123
>Hurr durr
The numbers from the 70's were real world examples of relatives. Buying a brand new car was no problem, it cost as much as one months (combined, two people) wage, but of course there are other expenses as well. They bought their house extremely cheaply compared to what they cost today as well (having increased in value by over ten times, while wages haven't gotten to more than 1/4 of that increase, at best). A lot of the people of that generation (a very large percentage of them, actually, ask around) started working jobs with no schooling (some even having quit basic schooling), jobs that they worked for as long as they wanted to, and that later only accepted civil engineers for the same positions.

The generations after the boomers were the first ones to actually have it worse than the boomers. Since they got life handed to them on a silver platter, they taught their kids the same approach, and they taught theirs, and here we are. A 1950/60's mindset with regards to economics, with a 1920's situation potentially only months ahead of us.

>>667175
Life really was better, though. In almost every way, even just a few decades back, life was better. For me, just having my own country would be a huge improvement (right now they're importing sandniggers in the volumes of 1/3 of the third largest city in the country, per year, permanent right of stay, guaranteed for at least four more years).

You made me post it, man.
https://www.youtube.com/watch?v=RYbe-35_BaA

[Anonymous No.667181]

>>667123
>leave it to beaver
I think the anon you are talking to is Scandinavian. "Leave it to beaver" means nothing to him. I am a scandi-fag too, and my family definitely could afford a nice suburban home, holiday home and clothe and feed 3 kids, all on one pay-check from a mid-level office job.

[Anonymous No.667186]

>>667175

I think if you were to research the matter you'd find that life was actually better for the majority of people.

Especially blue collar labor.

This is because of wage stagnation, which happened because of computerization and robotization of industry, as well as globalization which has led to people in this county competing with cheaper labor for the same job in another country.

All while the government has done nothing to enact laws or funding to help the general population meet the increased needs of schooling to work in the higher tech jobs of today, and have also done nothing to stop companies from offshoring as many jobs as possible.

Your father's america was in fact a better place to live if you had no skills and a good work ethic.

These days you have to have an education, which is expensive, and it really helps to know someone so you end up in the right gig.

in 1964 the inflation adjusted minimum wage was 10 bucks and the inflation adjusted median home value was 120k compared to a current minimum wage of 7.25 and a current median home value of 220k.

yes... things are exactly like they were. it's just young people whining about nothing...

[Anonymous No.667199]

>>667186
Minimum wage isn't supposed to give you luxuries like a 220K FUCKING HOME

[Anonymous No.667200]

America's postwar success was a historical aberration that one should not expect to return.

The world was in shambles and handed a ton of shit to us.

We had 2/3 of the gold, over 1/2 the merchant fleet, 1/2 the manufacturing capacity, and a ton of prestige. Americans had lived through the depression, gotten skills and income from war jobs, and could not wait to unleash their savings on the postwar economy (granted the exorbitant privilege, a la Bretton Woods). Of course, golden-age thinking is fallacious. Life might have been easier for the mediocre, but there has never been paradise on earth.

You know what happened next.

[Anonymous No.667210]

>>667134
>wage stagnation since 1970 which has not even come close to keeping up with inflation
Why is this though? I agree with your basic premise, I just don't know the reasons. Never really known much about economics. Care to explain?

[Anonymous No.667212]

>>667180
why does that video get posted all the time on 4chan?

what is the significance of it?

[Anonymous No.667213]

>>667200
You're forgetting that in additions to remainder of the world being in ruins, Capitalism also had a worldwide alternative in the face of Communism, which had corps shitting bricks. Provided, both systems are utter shit, one just managed to collapse before the other, but now corps got free reign and are afraid of noone.

[Anonymous No.667216]

>>667102
where the hell do you live? Monaco or swiss? I can't think of any western European country where the average house costs 2 to 3 million.

Even here in London with it's insane inflated housing prices you can get a decent house for 3/400 thousand.

[Anonymous No.667218]

>>667216
…maybe he means the cost of the mortgage+interest? If not, I don't know where the fuck he's looking.

[Anonymous No.667225]

>>667210
Libertarians say it's the increasing waste of money from the state.
Liberals say it's the increasing part of the benefits that's captured by capital rather than work.
Fuck me if I know.

[Anonymous No.667230]

>>667216
He said he lives in Norther Europe. Which would make sense because say he lived in Sweden, the exchange rate of £1 to kronas is like 13. So 3million kronas is like £230,000, cheaper than London.

[Anonymous No.667270]

>>667047
Quite the contrary... Young kids selling their apps for 22$ all the time.

[Anonymous No.667286]

>>667047
My dad came to Canada from Poland in 1985. He didnt knew the languages nor did his education get recognized.
started working in machining. 15$/h was enough to pay rent, food, a car and save 4k a year. Supported my mom which had my sister and me. Is now an supply operaTions manager.
a high school graduate could have done the same. My dad was very lucky.
im a graduate, and im having a hard time finding work at 15$/h

[Anonymous No.667372]

>>667043
>Generation who has benefited from least amount of warfare
>less than 1% of the population knows somebody closely who has served vs around 25% in the 50s.
>Ever watch the opening scene of Saving Private Ryan? Tell those kids how tough your life is compared to them.

"I cant pitch a tent on the beach and I cant get a fair wage job easily"

The millennial generation gets a lot of unfair attention but this post is why people shit on millennials.

(Im 23 btw, had a job at KPMG which I am now quitting to become a marine corps officer for)

Does our generation face an identity crisis? I know I do, there has to be more to life than working a easy wage slave job.

[Anonymous No.667386]

>>667372
>Ever watch the opening scene of Saving Private Ryan? Tell those kids how tough your life is compared to them.
What the fuck has any of this got to do with boomers?

[Anonymous No.667485]

>>667386
>What the fuck has any of this got to do with boomers?

Nothing, this thread is complaining that millennials have it the hardest.

[Anonymous No.667544]

>>667372
You're me from 6 years ago! Look into using the GI Bill when you're out, save all your money, live with roommates, max out the TSP every year (the tax advantaged savings stack with your IRA contributions, to a max of 22 or 23k or so). Don't become a product of the environment you'll find yourself in, becoming a petty negative asshole like everyone else.

All this other 'generation' stuff is the same kind of complaining that every late teens - early 20s group does. It's about as important as you make it.

[Anonymous No.667594]

You could live in RV or van or something like for that very cheap. That's about the only modern equivalent that isn't illegal.

30-40 years ago, every market was blue ocean. Because of organic growth, every retard with any sort of business would succeed. That's not the case anymore, unless maybe you move to China. Most areas are now monopolized by big corporations, and all the regulations they push in place are to keep the smaller competitors from getting on the playground.

[Anonymous No.667825]

>>667372

Why did you quit your job at KPMG?

[Anonymous No.667835]

>>667035
>Do we literally live in the shittiest generation? My parents are always saying shit like "oh, this back then was only 30 dollars", but back then the minimum wage was lower and money was harder to make.

EVERY generation wants to think things used to be better. Sorry, they sucked, and probably did in different ways. The Savings and Loan crisis and housing crash of the 80s, gas and oil crisis of the 70s, Cuban missile crisis and cold war of the 60s, Korean war in the 1950s, and you can keep going. Everyone seems to forget things and look at the past with rose coloured glasses because no one wants to remember the bad times or wants to down play the bad times. GenX (of which I am) and Millennials are living in some shitty times, and we'll do the same thing to our kids.

>Every time I talk about just taking my clothes in a suitcase and finding a new town to start over in people say that only worked in the 60's and 70's. Everyone says we have the shittiest inflation and economy we've had in awhile, but I still people my age buying motorcycles, snowmobiles, cars, and shit.

No, it works now. You've just got to be willing to do it. You may have missed the oil boom, but there will be another one. You've just got to recognize it and be willing to do some shitty, back breaking, hell filled work.

cont...

[Anonymous No.667837]

>>667035
>>667835

...cont
>I also heard we have so many strict laws and shit these days because of all the dirty 60's hippies ruining everything. You can't even pitch a tent on a beach for a few days anymore, but I guess back then people did it freely.

People were "harmless" then, not you would be a blight on someone's land that would drive down property values. Remember the "Peace and Love" generation gave way to the "Me, Me, Me" generation. When hippies started to become yuppies, things took a turn for the worse for most people because no one wanted to leave anything on the table for anyone else. If they couldn't have it all, they sure as hell weren't going to let anyone else have any.

>I've given up on finding a job because of where I live. It fucking haunts me that I'll never be able to just run off to a beach and bum around and see this every day.

Then find something some where else and work your way towards FIRE. Reddit has a great board for financial independence, retire early. Read as much as you can and learn that you can retire early or at least get to the point of not giving a shit.

http://www.reddit.com/r/financialindependence/

[Anonymous No.667887]

>>667035
>"oh, this back then was only 30 dollars"
People who say shit like this are fucking retards. Yes, shit was cheaper, but wages were also lower. It all adjusts with inflation.

[Anonymous No.667888]

>>667035
>people my age buying motorcycles, snowmobiles, cars, and shit.
They aren't buying them, they are borrowing money and are now slaves to payments. You're welcome.

[Anonymous No.667897]

Grandparents generation
>Biggest recession in all of known history
>Millions of people died
>Africa is basically enslaved
>India is enslaved
>Loose it all because they had some sticks and were shouting alot
>Start 2 world wars
>Millions of people died
>Racist

Probably the worst generation ever

Parents generation
>Fucking hippys
>Caused the modern recession
>Over-consume
>No health cares
>Invented pill culture, because lazy
>Yuppies
>Vietnam war
>Gulf war
>Falklands
>Afghanistan
>Iraq
>Northern Ireland
>Good music though

Just pricks in general

Millennials
>Music is alright
>Very anti-war
>Charity culture
>Internet
>Obsession with earned health
>Shunning of big business
>We spend our spare time in think tanks and discussion, like this board.
>People are either misanthropic or philanthropic
>Autists are invent space travel for us
>Incredible technological advances
>We invented memes

Would probably be on Mars by now if we didn't spend so much time posting pictures of sad frogs.

[Anonymous No.667898]

>>667485
>Nothing
This thread compares the economic condition of post-war generations fyi.

[Anonymous No.667903]

>>667035
Baby boomers and reagan ruined the world, what else is new?

[Anonymous No.667905]

>>667897
> shunning of big business
I know plenty of millenials who whine about capitalism a lot but they buy shit from the big corporations like everyone else.

[Anonymous No.667906]

we're all gonna make it Anons

[Anonymous No.667930]

>>667035
A lot of what you gave as examples is demonstrably wrong though.

Inflation is better now than in the last century.
You can totally do the suitcase thing.
Pitching a tent on a beach is allowed is some countries/states.

On the other hand, savings are at an all time low, spending is at an all time high.

However, while most people used to want to "travel the world" and "find fulfillment" (baby boomer generation) this generation is much more down to earth with stuff like "find a stable job" and "get married and buy a house".

[Anonymous No.668355]

>>667212

It shows how nice and mature the average person on the street was, compared to today.

[Anonymous No.668358]

>>667897

>Millennials
>>Music is alright
No, it isn't.

>>Very anti-war
Yet maintain the longest running war in America's history.

>>Charity culture
Prove it. More like "victimization" culture.

>>Internet
Created by their parents.

>>Obsession with earned health
Energy drinks, pot, steroids. Not really.

>>Shunning of big business
Communists.

>>We spend our spare time in think tanks and discussion, like this board.
If only you knew how to think.

>>People are either misanthropic or philanthropic
They either read RollingStone and throw money away to Africa, or they read InfoWars and buy water purification kits.

>>Autists are invent space travel for us
To label intelligence and an ordered mind as autism will be your death knell. You threw away the space program, you did not invent it. You made it into MacDonalds.

>>Incredible technological advances
Nope. Again, this is just building on what your parents and grandparents made. Processing speed and transmission speed are about it.

>>We invented memes
Actually, you co-opted them from PR firms. Good job on that one. (serious)

[Anonymous No.668388]

>>667905

Because those big corporations are effectively monopolies that the Justice Department should be investigating.

Seriously almost every major product you need in your life is manufactured by one of 4 or 5 large corporations.

>look at that millenial.. he hates corporate america, but he's happy driving his ford and talking on his iphone

what the fuck else do you expect people to do?

I have no idea why people think that hating the american corporatocracy, and using some of the better products that it makes are mutually exclusive. Why should you consider that doing one precludes the other? that makes no sense.

walmart is a shit company, with shit values. it prey on poor people and relies on low hourly wages and low hours to force their employees into poverty, so that the corporation can rely on the tax payer/us govt for benefits, instead of the company paying the wages that it should

i haven't stepped foot in a wal mart in 8 years.

but do i have a smart phone? of course I fucking have a smart phone... Do i drive a car made by a large corporation? uh... do i have the millions of dollars to spend on a boutique manufactured car? fuck, of course i drive a cheap corporation made car, there is no other option.

if the department of justice was doing it's job and cracking down on monopolies, we wouldn't have too big to fail, and we'd have small manufacturer options, and we'd have actual choice.