Comment on A slightly different experience

tisktisk@piefed.social ⁨3⁩ ⁨weeks⁩ ago

• LovableSidekick@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  For one thing, the economic boom of the 1950s was an anomaly. It was largely driven by years of enforced saving during WWII. Many consumer goods were either rationed or unavailable, but there was full employment for war production and those jobs paid well. So people were making good money and didn’t have a lot to spend it on. So they bought war bonds or just saved up. A few years after the war ended, when industry had shifted back to producing consumer goods, people had a lot of money to spend. Sales fueled more jobs and higher pay, fueling more sales etc.

  By 1960 all the savings had been spent and consumption started to slack off. The business world didn’t want the boom to end, so they started handing out consumer credit like candy. Consumers also didn’t want it to end, so they eagerly bought on credit. Constantly owing money became the norm, and now the average American family carries like $15,000 in credit debt, excluding mortagages.

  I think the only way we can achieve a boomer-like lifestyle for everybody will take massive changes in how we run the economy. The current system will just keep shoveling profits into the hands of a very small number of very wealthy people. Automatil will eliminate more and more jobs. But in the theoretical endpoint of that, the economy collapses when there are too few people with incomes who can afford to buy anything. Reforming our economy before it gets to that point will be a matter of survival.

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  • faythofdragons@slrpnk.net ⁨3⁩ ⁨weeks⁩ ago

    There was also a large influx of money as Europe rebuilt after WWII, but that also a one-time-thing.

    Unless…

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• Lemminary@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  The rich pulled the wealth from the commoner and made themselves even richer. Now they want to be kings. It’s why we can’t have nice things.

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  • WhiskyTangoFoxtrot@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    The rich pulled the wealth from the commoner and made themselves even richer.

    That’s been happening throughout literally all of human history. It doesn’t help answer the question of why so many people had it so good in the '50s (other posters in this thread have provided better answers.)

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    • Lemminary@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

      Yes, it used to be somewhat like this, but never to this degree. Ever since money flooded US politics, a lot of millionaires have inflated their heads to believe their duty is to meddle in politics. They didn’t waste any time to push legislation in their favor through lobbying, bribery, and even running for office. It’s no coincidence massive tax cuts are being given to them, do that the burden ultimately falls on the rest of us.

      This isn’t just a money pull, but a rug pull along with it, and it’s been in the making for decades.

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  • theangryseal@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    I’d love to see the bank account and hear the life story of the person who downvoted you.

    I really would.

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• Deceptichum@quokk.au ⁨3⁩ ⁨weeks⁩ ago

  Because people let them.

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  • tisktisk@piefed.social ⁨3⁩ ⁨weeks⁩ ago

    You mean people (?) let them (boomers) permanently impede progress somehow? I'm not doubting you, just questioning the means and any specifics that can be spelled out

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