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College, Food, and Fucking: Ronald Reagan stuck it to millennials: A college debt history lesson no one tells Dramatic, awful changes occurred on my generation's watch and it amounts to a fiendishly successful conspiracy PETER LUNENFELD wes-stoodis: lokicolouredglasses: imathers: abraxuswithaxes: smallrevolutionary: trungles: shorterexcerpts: styro: salon: Ronald Reagan pretty much ruined everything for millennials. fuckin’ ronnie I try and bring up how he ruined free in state tuition in the name of hippie bashing when he was California’s governor often, but don’t exactly have the biggest platform. “Worst of all, these students’ sense of the future is constrained by planning for and then paying down their student loans, often for decades. Economists are waking up to the fact that when young Americans enter the workforce burdened with over a trillion dollars in cumulative debt, they become risk averse, unwilling to move, less able to make major purchases, and slower to become homeowners. Not coincidentally, they don’t feel safe enough to register any major protests against the society that’s done this to them.” Damn. i am reblogging again because….. fuck ronald reagan forever and ever and ever and ever. Economists should be adept in their fields, how are they only now realizing that paying off our student debt is a fucking priority over anything else other than food? Weird, it’s almost like there’s something missing from the study of economics. Who would have possibly thought that a young generation owing trillions of dollars could have a negative effect on the economy?
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Alive, Being Alone, and Animals: THE "MODERN" SOCIETY Avocado Toast Houses the-iron-dragon-god: c-bassmeow: snapecrackelpop: c-bassmeow: Damn millenials Okay but like he had a point though? We, as a generation, waste a lot of money on dumb shit (like $5 coffees, eating out every day, and yes avocado toast). That’s not to say that we haven’t been dealt a really bad hand, economically speaking. But I really think we all ought to learn to tighten our purse strings a little bit…  While saving is indeed a good thing, this is not the reason we millennials cannot afford houses. Wages have been on the decline or stagnant for decades while the price of housing has skyrocketed. More and more jobs are being offered in cities where owning property let alone renting is impossible on your own. Whenever the poor want to “splurge” on let’s say a coffee or avocado toast (I have no idea what that is) it’s framed by the elite as some hedonistic, irrational splurge. It’s framed as if the rich are where they are because they were rational enough to save while the poor are just rabid wild animals who spend too much and refuse to save. The truth is that most Americans aren’t even saving there income… because they can’t.   (Graph courtesy of MotletFool the popular financial group) They literally can’t. Everything goes to the bills. If you look at the under 35 group, statistically speaking, millennials have a negative savings rate due to many barriers to entry that weren’t in place when our parents were alive and crippling college debt.  Even the generation above us is barely saving and these are people who aren’t burdened by college debt but instead many had to resort to credit cards to get by and thus have their own forms of debt. What’s left after the bills goes to making life bearable. I see nothing wrong with that. Poverty and lack of opportunity is not a function of the poor and middle class people being too stupid to save. They literally can’t save. Rational choice theory (the free market theory where anything bad that happens to you is solely a product of your bad choices and not society at large) can only go so far in explaining our position in the world. Saving is indeed good, but in order to stress saving… we must have adequate wages and a healthy economic environment that allow us the opportunity to save.  sidenote: The other irony about capitalism especially the American kind is that over 70% of our GDP is consumption, so that means the health of the American economy literally depends on us “wasting” money on stupid shit to boost corporations. SO it’s a very strange paradox -we get blamed for not saving enough because we are too stupid  yet we get blamed for not buying enough and ruining the economy… because we are too poor and stupid. No matter what we do the poor are always to blame! ….. FUCK !  ^I like this
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Alive, Being Alone, and Animals: THE "MODERN" SOCIETY Avocado Toast Houses snapecrackelpop: c-bassmeow: Damn millenials Okay but like he had a point though? We, as a generation, waste a lot of money on dumb shit (like $5 coffees, eating out every day, and yes avocado toast). That’s not to say that we haven’t been dealt a really bad hand, economically speaking. But I really think we all ought to learn to tighten our purse strings a little bit…  While saving is indeed a good thing, this is not the reason we millennials cannot afford houses. Wages have been on the decline or stagnant for decades while the price of housing has skyrocketed. More and more jobs are being offered in cities where owning property let alone renting is impossible on your own. Whenever the poor want to splurge on lets say a coffee or avocado toast (I have no idea what that is) its framed by the elite as some hedonistic, irrational splurge. Its framed as if the rich are where they are because they were rational enough to save while the poor are just rabid wild animals who spend too much and refuse to save. The truth is that most Americans arent even saving there income because they can’t.  (Graph courtesy of MotletFool the popular financial group) They literally cant. Everything goes to the bills. If you look at the under 35 group, statistically speaking, millennials have a negative savings rate due to many barriers to entry that weren’t in place when our parents were alive and crippling college debt.  Even the generation above us is barely saving and these are people who aren’t burdened by college debt but instead many had to resort to credit cards to get by and thus have their own forms of debt. Whats left after the bills goes to making life bearable. I see nothing wrong with that. Poverty and lack of opportunity is not a function of the poor and middle class people being too stupid to save. They literally cant save. Rational choice theory (the free market theory where anything bad that happens to you is solely a product of your bad choices and not society at large) can only go so far in explaining our position in the world. Saving is indeed good, but in order to stress saving we must have adequate wages and a healthy economic environment that allow us the opportunity to save. sidenote: The other irony about capitalism especially the American kind is that over 70% of our GDP is consumption, so that means the health of the American economy literally depends on us “wasting” money on stupid shit to boost corporations. SO it’s a very strange paradox -we get blamed for not saving enough because we are too stupid  yet we get blamed for not buying enough and ruining the economy because we are too poor and stupid. No matter what we do the poor are always to blame! .. FUCK ! 
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College, Crazy, and Facts: Ronald Reagan stuck it to millennials: A college debt history lesson no one tells Dramatic, awful changes occurred on my generation's watch and it amounts to a fiendishly successful conspiracy PETER LUNENFELD abraxuswithaxes: smallrevolutionary: trungles: shorterexcerpts: styro: salon: Ronald Reagan pretty much ruined everything for millennials. fuckin’ ronnie I try and bring up how he ruined free in state tuition in the name of hippie bashing when he was California’s governor often, but don’t exactly have the biggest platform. “Worst of all, these students’ sense of the future is constrained by planning for and then paying down their student loans, often for decades. Economists are waking up to the fact that when young Americans enter the workforce burdened with over a trillion dollars in cumulative debt, they become risk averse, unwilling to move, less able to make major purchases, and slower to become homeowners. Not coincidentally, they don’t feel safe enough to register any major protests against the society that’s done this to them.” Damn. i am reblogging again because….. fuck ronald reagan forever and ever and ever and ever. Economists should be adept in their fields, how are they only now realizing that paying off our student debt is a fucking priority over anything else other than food? as someone with a degree in economics but who is a leftist  and also someone interested in science and  not unsubstantiated theoretical mumbo jumbo, and has had to fight and debate economists/economic students for four years- economics is in a state of crisis. Whether it realizes it or not the field is in a crisis. Economics departments espouse either free-market ideology or free-market ideology with a few government tweaks to rectify certain inefficiencies. It rarely as a field questions the system it is in and economics is ridden with scientifically debunked assumptions. We are not perfectly rational nor will we ever be yet economists create deductive models with this fatal assumption. This is why is almost always fails at mathematically formalizing human behaviour, because science tells us that humans are not actually as rational as economists claim they are. Moreover it’s only been relatively recently that economists (mostly behavioral economists) have actually listened to science and considered the facts of cognitive biases when creating models of human behavior and choice. Another problem is that economists are philosophically naive. They rarely challenge their assumptions and they are prone to theory induce blindness. They focus too much on personal choice while ignoring or underplaying other relevant factors. Economists are also pressured to support capitalism since they still jerk off Adam Smith as if he was some god. It’s pretty crazy lol 
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