Population growth ostensibly creates economic growth, which generates tax receipts to pay down public debt. We're about to hit a wave of massive inflation, which rewards asset owners and punishes workers and savers.
Further, I used to think that millennials were poorer than they think they are, but then it clicked they absolutely understand, and that's why they behave exactly like the poor people they subconsciously recognize they in fact are.
If you took the traditional criticisms of how the poor manage their lives you'd get things like, a lack of long term planning, blowing money on gaudy status signalling to attract other poor partners or mates, a temporary and transactional attitude to work, lots of unsecured high interest debt, hyperbolic reactions to perceived slights, superstitious beliefs, extreme promiscuity, isolating and sabotaging people who make their own way as not being authentic, a lot of people would unironically say those are racist and classist stereotypes, without seeing that they accurately describe the lives of ostensibly middle class white millennials.
They know they're poor and they're acting like it, and they have less hope than policymakers imagine. Inflation wouldn't make a difference because they don't have any savings, and they don't have assets, it's just another force they're subject to.
"So we drink and dance and screw, because there's nothing else to do..."
>They know they're poor and they're acting like it, and they have less hope than policymakers imagine. Inflation wouldn't make a difference because they don't have any savings, and they don't have assets, it's just another force they're subject to.
The entire point is that inflation forces asset owners to do something useful. Inflation is beneficial to those who are dependent on an income.
