https://www.cnbc.com/amp/2022/07/15/millennials-are-to-blame-for-sky-high-inflation-strategist-says.html
"See, what everyone is not including in the conversation is what really causes inflation, which is too many people with too much money chasing too few goods," Bill Smead, chief investment officer at Smead Capital Management, told CNBC's "Squawk Box Europe" on Thursday.
"So we have in the United States a whole lot of people, (aged) 27 to 42, who postponed homebuying, car buying, for about seven years later than most generations," he said.
Damn, Millennials are just not good with economics
Yeah, shit sucks lol. And i think a factor often overlooked is that we're kind of 2nd generation disenfranchised if that makes sense - we grew up in houses our families didn't own and could never think of owning, raised by the millenials that had had their adult lives shaped by econmic disaster
Like, an example i heard from a compassionate older person, gen z (in the west at least) are being raised by the first people to be raised by two parents working fulltime; our parents weren't taught to cook or maintain shit and so we aren't even exposed to that sort of behaviour passively like they were because our parents don't have the energy/time just like their parents didn't and they never really learnt in the first place, so no shit we often can't cook, can't fix stuff, have to google "basic" skills. its a natural affect of societal conditions over such a timeframe. Apply that to economics, apply that to the conditions we have become used to, apply that to the expectations of work/benefits/pensions/help that older people understand as natural but we don't have the slightest instinct to expect
Shit compounds and gets worse
Well, if they need ideas. They can spend that money on solving the climate crisis they caused.
The last time we saw what we call 'wolverine inflation'
No one is calling it that, Smead. Just you. It's a made up term that you're trying to make happen for like the past year. Based on 2 pages of Google results and the only time it is used coming from you.
What an absolutely pathetic dipshit. It's the capitalist version of trying to make "fetch" happen.
Yes the problem clearly is that people aged 27 to 42 have too much money
Bill Smead, chief investment officer at Smead Capital Management
Opinion automatically discarded :porky-scared-flipped: :stalin-gun-1: :stalin-gun-2:
This is not factually true. The Biden administration has been hamstrung by the senate parlimentarian's arcane rules and regulations. Take for example, the Senate Appropriations Presidential Funding Act of 1982, section 34. Smart people would google "Biden Rule 34 inflation" if they want to get the real truth.
Whoa there, It's MY money! I can do what I want with it, collectivist!
which is too many people with too much money chasing too few goods
I agree, Trump's corporate bailouts and PPE loan scams gave the bourgeoisie too much money which they hoard by buying up stock instead of investing in the economy. This huge injection of money which was only used to keep rich people afloat was surely the biggest contributor to inflation.
“So we have in the United States a whole lot of people, (aged) 27 to 42, who postponed homebuying, car buying, for about seven years later than most generations,” he said.
Oh WOW I WONDER WHY? Just another MYSTERY huh? ALSO how the fuck does he think millenials have money but aren't spending it!?
Probably the same way McConnell thinks people are still living high on relief checks from three years ago.
millennials actually caused the war in ukraine, the covid epidemic, and the ongoing supply chain + food crisis
they also bombed nordstream 2
they also bombed nordstream 2
:ecoterrorism: :sicko-wistful:
??? creating a giant amount of greenhouse gas pollution and making Europe have to get natural gas shipped over on tankers is ecoterrorism?
Millennials burned our cops and poisoned our water supply!
Millennials delayed buying houses but somehow home prices have skyrocketed in the years they traditionally would have bought. Clearly it's the demand of millennials driving up prices!
Ah yes, and you know who is control of the supply side of the economy. That's right, workers! Wait...
Natasha Turak is the writer.
Her LinkedIn summary is legit just explaining that she was raised by NatSec parents and walked into a job.
She wrote an article in 2020 literally complaining that UAE is making its own weapons instead of buying from the USA.
I’m gonna have a talk with my friend, she has to meet him.
:wall-talk:
