For many millenials, financial despotism is just run-of-the-mill at this point.
Between the financial crisis of 2008 and this new depression (Ray Dalio’s words), millenials have had to bear quite a lot of the system’s inability to foster a life of well-being, due to crippling amounts of wealth inequality. Granted, income has remained stagnant since the late 1960s, but the real issue that we face concerns wealth. Any young person knows that the amount they make in real time wages has been sapped by a rentiers economy and a health care premium that costs more than my property taxes. Wages are the same and housing prices have soared in some places up to six times the amount.
Many young people have gone to prestigious universities and have little to show for it besides a part time-job in the freelance or contractor sector and thousands of dollars in debt, while Harvard University lays off its workers. All despite its nearly 40 billion dollars in endowments.
This should not be normal.
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