Friday, January 27, 2012

Nobody Has Any Money

It's sort of amusing reading various articles about, for example, generational divides in the housing market, otherwise known as "young people don't think they'll ever be able to buy a house." There's too much of a desire to attribute to preferences instead of income, prices, and access to credit. I'm not saying preferences for such things can't change, but right now what's happening, both in the US and much of Europe, is that younger people are getting screwed. The game has changed for them. They're facing crap job prospects, crap income, no possibility for defined benefits pensions, and perpetual threats to completely gut retirement systems.

I'm not saying young people are the only ones being screwed by our incompetent and evil Galtian Overlords, but if you're looking for generational divides, that's your divide.