Hacker News Reader

Comment by SubiculumCode | Hacker News Reader

Another doomerism that will fail to materialize, I suspect. Sometimes too many people are almost eager for the other shoe to drop. But if America is too big and powerful to bail out, then maybe they won't need to get bailed out on...wait for it...debt denominated in their own currency. Fiat is powerful that way.

No, I think the way to continued prosperity are the old principles: Free Markets, Liberal governance, Property Rights, Fighting corruption, and Ensuring robust multilevel competition in the marketplace.

View on HN

> I think the way to continued prosperity are the old principles: Free Markets, Liberal governance, Property Rights, Fighting corruption, and Ensuring robust multilevel competition in the marketplace.

Don't forget accepting immigrants and makin babies.

> makin babies

"take care of the pennies and the pounds will take care of themselves"

> But if America is too big and powerful to bail out,

That's what electing the 270 this November is going to decide

In terms of economic policy not much , increased deficit spending is the platform for both parties , whether by tax cuts or welfare is just about who gets the benefits of the spending.

Spending itself is not going to change between both parties

The world won’t fail , but the impacts are real when economic systems change .

We are already facing that , asset inflation is already run away , generational wealth is only way millennials can buy a house , the economic prosperity of boomers is long gone .

The cost of having children has gone up , that is changing demographics today.

It is not black and white between economic collapse and we go to trading cigarettes or everything is awesome , it is spectrum and we already feeling the real economic pain and nothing is indicating it will get better just worse

> generational wealth is only way millennials can buy a house

Millenial. Own a house. No generational wealth helped with that, just being incredibly fucking lucky in Silicon Valley. Roll again.

> it is spectrum and we already feeling the real economic pain and nothing is indicating it will get better just worse

Practically none of this has to do with the U.S. dollar as a reserve currency (minus deïndustrialisation, which we're starting to reverse).

> Millenial. Own a house. No generational wealth helped with that, just being incredibly fucking lucky in Silicon Valley. Roll again.

A handful of people win the lottery. That's not proof of anything and doesn't change the overall trend.

60% of Millenials are homeowners, only a few percent lower than boomers at that stage.

https://www.redfin.com/news/gen-z-millennial-homeownership-r...

Maybe, but starting at a later age I bet.

Of course it has. The slow but certain financialization of the economy since the 70’s has lead to all of this, including the deindustrialization you mention.

Reply on news.ycombinator.com