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48 sats \ 3 replies \ @BlokchainB 26 Mar \ on: What Might Austerity Look Like in 21st-Century America? news
Very interesting. But true
I see the exact same things in my social circles.
Just this past weekend over brunch I was arguing with some friends about the current federal government downsizing. They are concerned how common people will be hurt and they themselves may have negative consequences due to astronomical student loan debt they have and their super expensive rent payment can put them in a bind if they lose their jobs.
Meanwhile they both drive vehicles. When they got married they spent about $100k on two weddings which they took on debt to host and they often go on international trips. To me a simple lifestyle change could have fixed a lot of their financial issues but the current fast pace lifestyle caught up with them. Now they are trying to have kids and time will tell if they can achieve that.
That is just one example that many of my peers face. More house more cars more trips more expensive food but when I say save $20 a week in bitcoin I look like a dummy and they say nah I missed the boat already.
You might like this article, too: #926119
It goes on about how the universities operate, which is why there is so much heavy debt amongst previous students.
I have noticed that these folks, kids, if I may, seem to have a really high time preference for things. That means they want it now, right now, and cannot wait to save up or scrutinize alternatives for a more reasonable price. They just take on the debt and then wonder why they are in such a debt trap and are constantly worried about any changes in their circumstances. It is as if they did not know that life is nothing but a big bundle of changes, changes now, changes later and changes all around for everybody. They were never taught that little factoid.
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Thrift and minimalism are due for a big comeback.
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Wow, what a huge understatement!!!!!
I think there is going to be such a change in our situations that, really, nobody understands it. I am thinking of Musk’s 14 (that he has found, so far) magic money machines. If they have pumped out 100X or a 1000X the money, unbeknownst to any other monetary authorities, what will that do to FRNs?
Yep, you made a really big understatement their, my friend!
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