1. Everyone has been saying youth has been hit because AI is taking entry level jobs (a claim I’ve been suss about). But why does youth tend to be the one to get hit? I guess because young people tend to be more risky than more established folks?
Similarly - the wealth by generation graph confuses me, it seems to start in 1990 and doesn’t include generations before? We’re the silent generation that much more wealthy than the greatest generation or whatevs? Where the greatest at?
fuzzfactor•3mo ago
Since before the birth of the nation, America was founded on a dollar that was an ounce of silver.
That held true for all generations up until a certain point in the 1960's.
By the 1970's the faltering was precipitous, and even worse "mistakes" were made.
One of the things that made the "Greatest Generation" so great was that all dollars that were earned up until that time were worth way more than they are today.
It's not fair or even possible to compare to following generations which have only debased dollars to hand down to today's youth. When only a few decades ago there were still plenty of people living who had spent their whole life earning silver-equivalent dollars, and when they passed on their life's work it was about a 10x to 20x better safety net than now.
techblueberry•3mo ago
Similarly - the wealth by generation graph confuses me, it seems to start in 1990 and doesn’t include generations before? We’re the silent generation that much more wealthy than the greatest generation or whatevs? Where the greatest at?
fuzzfactor•3mo ago
That held true for all generations up until a certain point in the 1960's.
By the 1970's the faltering was precipitous, and even worse "mistakes" were made.
One of the things that made the "Greatest Generation" so great was that all dollars that were earned up until that time were worth way more than they are today.
It's not fair or even possible to compare to following generations which have only debased dollars to hand down to today's youth. When only a few decades ago there were still plenty of people living who had spent their whole life earning silver-equivalent dollars, and when they passed on their life's work it was about a 10x to 20x better safety net than now.