On: Millennials who buy less are happier

[no_wizard]

of which, I've experienced 3 since 2007.

- Housing Down Turn

- Start Of Pandemic Downturn (not everything was a rocket ship)

- Post Pandemic Downturn

Not so once in a lifetime, it seems.

EDIT: if I include what I witnessed with my parents, I'd include the 90s / early 2000s tech bubble burst in this, which would make it 4

[foepys → no_wizard]

GP made a joke ;) Millennials and GenZ have been getting told this "once in a lifetime" story for years now.

It's the same with all these natural disasters that apparently only happen once in a century every few years.

[NemoNobody → no_wizard]

That's called Capitalism. The Economic system we've built our entire society upon breaks every 7-10 years - that's totally normal, but sometimes it breaks more than expected - as you stated, also not very rare.

Plus it requires 3% gains each year forever - which is obviously impossible.

I'm just over the whole thing really.

[ac29 → NemoNobody]

> Plus it requires 3% gains each year forever - which is obviously impossible.

You can buy 30 year Treasury bonds that pay well over 3% (the market rate was 3.88% yesterday). 30 years isnt forever, but its a substantial portion of a human lifetime.

For those worried about inflation, 30 year TIPS are paying 1.54% real (inflation + 1.54%).