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THOT's index of real inflation:
Median price of a home a car a college education a stay in the hospital as compared to the same thing in 1950 |
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Well actually, I had to work full time and go to college part time in order to be able to afford it. It took ten years but I finished with a degree. I could have borrowed money to go full time but that would have been stupid. I had more sense to not go into debt to learn. If it was a choice of taking on college debt or working than I would have not gone to college.
By the way, there would have been no way to pay rent, utilities, purchase food and go to college on minimum wage. I was able to do all of it but it took earning union wages in order to do so. |
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I went through 9 or so years of college; incurred $0 student loan debt.
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Quoted: Fuckin crybabies . What about boomers grandparents or their grandparents ? What could they get ? Bitch less , nobody cares and nobody ever got shit sitting around crying about some other generation. View Quote It's an ego thing -- placing the blame for your lack of success on the invisible and undefeatable foe - the past, systemic racism, some bug-a-boo, the stars in the heavens ... anything but acknowledge self weakness and see an opportunity to grow. This is a bad character flaw, one that is particularly evil as we see whole communities seeming laser locked at "tilting at windmills" fighting an invisible and imaginary foe. Socialism prospers because they create victims to whom they promise to rescue and take care of afterwords. The baby boomers were the spike of kids that came in 1946 to 1950 as service members made up for the years overseas. That's not at all useful for the socialist narrative. |
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Quoted: Gen Xer here. I recall as a lad the story of the high school PE teacher buying a house a few blocks from the beach in San Diego for some absurd amount (< 50k) in the 60s, stay at home wife and putting 2 kids through UC schools. Now that home is worth probably 3-4M, but even when I lived there 20 years ago it was a million dollar home. I did the math and figured since I had gone about as high as I could in my organization (academia), I could work my entire life at that position and never be able to live in areas like that. Thankfully I saw the corrupt game for what it was and found greener pastures. What most fail to realize is college costs spiraled out of control due to the huge benefits packages given to faculty and staff. Those gold plated pensions would make most in the private sector fall over. When the demographic and economic worm turned and those pensions went from overfunded to underfunded the solution to make up the difference was to increase tuition. It tripled when I was in school and myself and most of my friends had to bust ass to get out ASAP and that was decades ago. I didn't know anyone on loans, I don't think there were lenders dumb enough to lend to idiot kids back then - without a government backstop. And don't get me started on health care costs. This country is fked. View Quote In the same vein, I just read analysis that housing in San Jose recently returned more in appreciation for a year than a full-time employee earned. That's not good for anyone. |
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Quoted: boomers also didn't need any skills for those min wage jobs......throw a boomer at a min wage job now and they would be lost and couldn't keep up. Computers and shit. I would also like to point out to ya'll knuckle heads that it's Republicans, especially the Regan, Bush types that sold everyone out in the name of cheap shit and cheap labor. View Quote Democrats gave us NAFTA and open borders, it’s a Uniparty thing. |
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Quoted: @eagarminuteman i've told this story many times before but here we go.gif i used to work with a bunch of useless jagoff b**mas who were so proud of themselves for buying their first house in 1988 five years out of college for $30k. i googled the (brand new stahtah home at the time in a decent area) house from 1988 and naturally that's a (piece of shit beat down shitbox little house in a not great area) $600k house today for... reasons. one of the useless FUPA b**mas wouldn't shut his fucking gaping cockholster so i finally snapped and asked what he was making in 1988. FUPA b**ma: $15k. so that's like me five years out of skool making $300k/yr and buying my first house for $600k. little does dumb motherfucker FUPA b**ma realize that adjusted for inflation/whateva i'm making a fraction of what he made. same guy, same qualifications, same skillsets, same company, same job. just 30-40 years later. goddamn. View Quote |
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Quoted: i probably don't have to say it on this forum, but this is a direct result of democrat policies that claimed to be helping the poor. Ds: "let's drastically expand the scope of federal student loan guarantees, remove the limits on how much you can borrow, and wildly liberalize creditworthiness criteria." Rs: "that will have an inflationary effect." Ds: "you racists." View Quote Don't bring facts into this. Too many smoothbrains in this thread won't get it. |
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Quoted: Well actually, I had to work full time and go to college part time in order to be able to afford it. It took ten years but I finished with a degree. I could have borrowed money to go full time but that would have been stupid. I had more sense to not go into debt to learn. If it was a choice of taking on college debt or working than I would have not gone to college. By the way, there would have been no way to pay rent, utilities, purchase food and go to college on minimum wage. I was able to do all of it but it took earning union wages in order to do so. View Quote You didn't go to school to cop out of life. Most people do. College is the thing that shelters them from the cold world after high school. |
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Quoted: i probably don't have to say it on this forum, but this is a direct result of democrat policies that claimed to be helping the poor. Ds: "let's drastically expand the scope of federal student loan guarantees, remove the limits on how much you can borrow, and wildly liberalize creditworthiness criteria." Rs: "that will have an inflationary effect." Ds: "you racists." View Quote |
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Quoted: College was pretty much pay-as-you-go back in the late '50s - early '60s unless their folks were well off or they got an athletic scholarship. Parents started saving at birth and kids joined in when they were old enough for a part time job. Summers were spent working full time. Almost no one wasted money on worthless 4-year degrees, most went to trade schools or community colleges for 2 years. View Quote Degree creep is very real. My FIL for a tech school one year certificate. That school became part of the local college in the 80s and the cert for what he did was now an A.S. Two year degree. That qualification is now a four year engineering technolgy B.S. degree. P.A. Has gone from certificate, to B.S., to M.S., PT has gone from B.S. to DPT. |
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Quoted: i probably don't have to say it on this forum, but this is a direct result of democrat policies that claimed to be helping the poor. Ds: "let's drastically expand the scope of federal student loan guarantees, remove the limits on how much you can borrow, and wildly liberalize creditworthiness criteria." Rs: "that will have an inflationary effect." Ds: "you racists." View Quote This If credit got completely shut down, costs across the board would collapse. Education, real estate, everything Low interest rates, easy credit is what drove prices to the moon. When banks create loans, they create 'money' out of nothing. Of course it is inflationary. The joy of fractional reserve banking. |
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Quoted: boomers also didn't need any skills for those min wage jobs......throw a boomer at a min wage job now and they would be lost and couldn't keep up. Computers and shit. I would also like to point out to ya'll knuckle heads that it's Republicans, especially the Regan, Bush types that sold everyone out in the name of cheap shit and cheap labor. View Quote It's not cheap labor which drove up the prices. Everyone is a price shopper and wants things done cheap. |
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Quoted: I bought my first house in the 90’s for 64K. I got a 11.8% but I had to put 20% down. I was making $10 an hour. Gen X. View Quote I wish I would have known then how easy things were…I wouldn’t have worried about this bill or that hitting before the paycheck or if I had enough left for a meal. Easy peasy…I’m told. |
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Quoted: in on this fucking shitshow. https://www.ar15.com/media/mediaFiles/253414/ezgif-5-89578825dc_jpg-3167121.JPG View Quote ^^^^ |
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Quoted: in on this fucking shitshow. https://www.ar15.com/media/mediaFiles/253414/ezgif-5-89578825dc_jpg-3167121.JPG View Quote If this ain’t the damn truth. Can’t wait for company towns to make a comeback outside of stuff like mining. |
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Quoted: Yes and no. A boomer with a college prep track HS diploma probably had a better education than about 2/3 of current college graduates. A Gen Ed track maybe about 1/3 - 1/2. View Quote View All Quotes View All Quotes Quoted: Quoted: It's education that is every bit as different, and every bit as much to blame. There were no teacher's unions, and if your dumb ass failed, it failed. A boomer's HS education is arguably superior to your typical liberal arts bachelor's degree today. Math, science, literature, grammar, and writing. There's a reason you don't see these people on the street asking simple questions targeting boomers. Yes and no. A boomer with a college prep track HS diploma probably had a better education than about 2/3 of current college graduates. A Gen Ed track maybe about 1/3 - 1/2. I interview a lot of people. Your assessment of the quality of today's liberal arts degree is overinflated. |
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Quoted: You should see the leftists clamoring for their welfare handouts when we talk about shutting down medicare and social security. Commies pervade this place. View Quote View All Quotes View All Quotes Quoted: Quoted: This forum is far more liberal than you think. You should see the leftists clamoring for their welfare handouts when we talk about shutting down medicare and social security. Commies pervade this place. Yep, same exact thing as student LOANS are. Absolutely nothing is different at all. |
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Quoted: I bought transmissions from the junk yard. Thankfully they had a 30 day guarantee since it seemed the first one never worked. You couldn't rent a Jack but a turbo 400 only weighs about 150 lbs. I actually got to do 1 in a garage, that was awesome! View Quote of course gigachad can bench press a fucking transmission into place. how stupid of me to think gigachad would need a transmission jack. |
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Quoted: i probably don't have to say it on this forum, but this is a direct result of democrat policies that claimed to be helping the poor. Ds: "let's drastically expand the scope of federal student loan guarantees, remove the limits on how much you can borrow, and wildly liberalize creditworthiness criteria." Rs: "that will have an inflationary effect." Ds: "you racists." View Quote Attached File |
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Quoted: boomers also didn't need any skills for those min wage jobs......throw a boomer at a min wage job now and they would be lost and couldn't keep up. Computers and shit. I would also like to point out to ya'll knuckle heads that it's Republicans, especially the Regan, Bush types that sold everyone out in the name of cheap shit and cheap labor. View Quote Attached File |
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Quoted: How's PA treating you? I'll be going to there soon, View Quote View All Quotes View All Quotes Quoted: Quoted: Oh look more wealth rabble rousing by leftists. How refreshing. The truth is the current generation refuses to put in the work and only wants the rewards. How's PA treating you? I'll be going to there soon, GREAT (except for the current weather). Never having to pay car tax again is a huge morale bump, but PA seems to aggressively tax a ton of stuff. LOl |
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Quoted: It's an ego thing -- placing the blame for your lack of success on the invisible and undefeatable foe - the past, systemic racism, some bug-a-boo, the stars in the heavens ... anything but acknowledge self weakness and see an opportunity to grow. This is a bad character flaw, one that is particularly evil as we see whole communities seeming laser locked at "tilting at windmills" fighting an invisible and imaginary foe. Socialism prospers because they create victims to whom they promise to rescue and take care of afterwords. The baby boomers were the spike of kids that came in 1946 to 1950 as service members made up for the years overseas. That's not at all useful for the socialist narrative. View Quote View All Quotes View All Quotes Quoted: Quoted: Fuckin crybabies . What about boomers grandparents or their grandparents ? What could they get ? Bitch less , nobody cares and nobody ever got shit sitting around crying about some other generation. It's an ego thing -- placing the blame for your lack of success on the invisible and undefeatable foe - the past, systemic racism, some bug-a-boo, the stars in the heavens ... anything but acknowledge self weakness and see an opportunity to grow. This is a bad character flaw, one that is particularly evil as we see whole communities seeming laser locked at "tilting at windmills" fighting an invisible and imaginary foe. Socialism prospers because they create victims to whom they promise to rescue and take care of afterwords. The baby boomers were the spike of kids that came in 1946 to 1950 as service members made up for the years overseas. That's not at all useful for the socialist narrative. It’s not so much that as, the younger generations see things as being hard, much worse, for early Americans, the Lost Gen, the greatest Gen, and early silent Gen. And that successively, things got better progressively Culminating in the Boomer Gen, With a slight backslide for genx, older millennials, as boomers were the dominant culture, political, social, academic, fiancé, etc. with further backslide into the shit show now. They want things to be like it was when boomers came of age. And they feel boomers destroyed that to their own benefit. They see -in today’s dollars- that grandpa paid 6K for a degree, 30K for a new Vette, 200K for his first home, had full medical /dental/vision and a great pension- When the exact same degree at the same school 100K, the new Vette is 90K, the same home is 600K, they are paying 800 bucks a month medical insurance and have no pension. It’s a pretty basic theme. They don’t understand why when grandma and grandpa were young and struggling- in the today’s equivalent of a 500 dollar a month apartment, they don’t see the same apartment being 1500 instead of 500 being a real issue. |
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Quoted: Pay your debts. View Quote Like about 98.87% of the populace, you apparently have no idea how banks work, how the banking system works. In a nutshell, banks pretend to make loans. When you get a loan, they use a small percentage of FRNs and basically pretend to loan the vast majority of it. It costs them nothing. Banks in general charge interest on imaginary loans. They only loan you about 10% of the loan amount. That's what drives RE bubble and the education loan industry bubble. Charging interest on imaginary loans is criminal. |
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First real job (1984-1985'ish) after high school was offshore oilfield.
Made "about" $25,000 per year, working only 6months per year. Was young, stupid, partying, and hit the bars chasing women, bought toys, new truck, motorcycle..etc I didn't save a penny, when the crash hit, I was making way less and learned a lesson. In hindsight I would probably do the same again, it was an awesome 1.5yrs full of awesome memories |
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Quoted: @Trunalimunumaprzure of course gigachad can bench press a fucking transmission into place. how stupid of me to think gigachad would need a transmission jack. View Quote Couldn’t rent a Jack, couldn’t afford to buy a Jack. I’m no Chad, just an average guy for the time. Apparently I would be a superhero now. I had no idea how far the younger generations have fallen. |
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Quoted: First real job (1984-1985'ish) after high school was offshore oilfield. Made "about" $25,000 per year, working only 6months per year. Was young, stupid, partying, and hit the bars chasing women, bought toys, new truck, motorcycle..etc I didn't save a penny, when the crash hit, I was making way less and learned a lesson. In hindsight I would probably do the same again, it was an awesome 1.5yrs full of awesome memories View Quote Corpus Christi Bay |
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View Quote View All Quotes View All Quotes Quoted: Quoted: First real job (1984-1985'ish) after high school was offshore oilfield. Made "about" $25,000 per year, working only 6months per year. Was young, stupid, partying, and hit the bars chasing women, bought toys, new truck, motorcycle..etc I didn't save a penny, when the crash hit, I was making way less and learned a lesson. In hindsight I would probably do the same again, it was an awesome 1.5yrs full of awesome memories https://www.youtube.com/watch?v=ztibpXAryg4 Never heard that, shit was so real.. |
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Always enjoy these threads, retired before 50 and not a boomer.
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Quoted: All boomers? You are making an absolute statement? Absolute statements rarely hold up under the slightest of scrutiny. View Quote Don't you know that all 70 million of us boomers are identical, carbon-copy, exact replicas of each other? That we all think exactly alike, do things exactly alike, make the same exact decisions, have teh same opinions on everything, hold the same values, and are pretty much just stamped out of a boomer factory somewhere? |
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Quoted: Like about 98.87% of the populace, you apparently have no idea how banks work, how the banking system works. In a nutshell, banks pretend to make loans. When you get a loan, they use a small percentage of FRNs and basically pretend to loan the vast majority of it. It costs them nothing. Banks in general charge interest on imaginary loans. They only loan you about 10% of the loan amount. That's what drives RE bubble and the education loan industry bubble. Charging interest on imaginary loans is criminal. View Quote View All Quotes View All Quotes Quoted: Quoted: Pay your debts. Like about 98.87% of the populace, you apparently have no idea how banks work, how the banking system works. In a nutshell, banks pretend to make loans. When you get a loan, they use a small percentage of FRNs and basically pretend to loan the vast majority of it. It costs them nothing. Banks in general charge interest on imaginary loans. They only loan you about 10% of the loan amount. That's what drives RE bubble and the education loan industry bubble. Charging interest on imaginary loans is criminal. Then don't get any. And if it were truly imaginary in every way, there would be zero risk in every type of loan. [sadly, the damn government has fubared that up several times over on both sides of the equation, both on the lender and recipient side] |
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Quoted: There will be a ton of rage/denial. Boomers say stuff like- I worked part time and construction in the sun all summer for minimum wage and paid of my own damn college and rent! When you say something like, Well, when you were 18 in 1968 minimum wage was 1.60 (15 bucks in today’s dollars) A year of tuition and fees at State U was $400. (3500 in today’s dollars.) Rent in the off campus housing apartments 2 miles away was $70. (About 600 in today’s dollars.) You bought a used Ford Bronco that left the factory 3 years ago, had 20K miles on it, for $1500. (13K in today’s dollars.) When your son went to the same school in 1994 minimum wage was 4.25. (About 9 bucks in today’s dollars.) A year of tuition and fees was about 13K in today’s dollars. The same apartments were $800 in today’s dollars. They bought a 1991 Bronco with 25K on it for about 20K in today’s dollars. For your grandson, minimum wage is 7.25. A year of tuition and fees at the same school is 20K. The same apartments start at 1800 a month. A three year old Bronco is 40K. And… The median household income in 1968 is about the same as today corrected for inflation. But… It was majority single income households. And the majority of dual income households one was part time. Now it’s majority two income households. And the majority of second incomes are full time. Plus… A new college grad had an average starting income MORE than the median household income, not less like now. Additionally, they had about a 70% chance of full medical insurance and a defined benefit pension. And, when you made it big and bought that big beautiful home on the lake in 1978 with the huge yard, great neighbors, no crime, a short commute, and wonderful schools… For 65K at 10% You put 6.5K down, And paid about $510 a month. In today’s dollars It was about a 300K home with a 30K down payment and a monthly 2400 payment. The clone of that home in the same neighborhood, for your son in 2004, In today’s dollars- was 500K with a 50K down payment - and at 6% about a 2700 monthly payment. For your grandson to buy it now - one of those same exact homes- also at 6%, It’s an 800K home. So put 80K down , then pay about 4300 a month. This is not even counting higher insurance, property taxes, etc. You can TALK about your high interest rates and crazy inflation numbers- And how young adults and families would be just fine if they weren’t wasting money on avacado toast, Starbucks, and iPhones, - And how your Bronco didn’t have AC, and a new one will last longer, and we can get a tv for 87 dollars, etc. But as someone born in the 1960s but a few years too young to be a boomer- That started out poor rural working class and built a pretty nice life- I will look you in the eye and tell you that you are full of shit. Young adults and families- good hard working people- the ones that are just like some of us that kicked ass - are economically getting their shit pushed in compared to what it was like for us. View Quote If you run the numbers for boomers compared to the two previous generations, you will find the same exact story. |
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