This is a quote from a Marketwatch article. The young millennial is not saving; she says there is no future because of climate change and she says capitalism doesn’t work.
I was in college when the financial collapse happened, and I remember the intense dread and panic around me as people who played by the rules of the system and did everything right lost all of their savings,” she says. “What will prevent that from happening again? The system doesn’t work.”
This is what you get from the barrage of political rhetoric. That and an apparent lack of history knowledge including the many crisis Americans have endured and overcome, in large part because of capitalism.
“Did everything right and lost all their savings?” Guess what, anyone who lost all their savings did everything wrong. They probably got out of the stock market in a panic at the low point thereby missing the next ten years of growth. Also, it’s doubtful she has much knowledge of the role government played in creating the subprime lending fiasco that lead to the mortgage shenanigans by lenders or that borrowers ignored what they could afford or that some homeowners over leveraged by using their homes as ATMs.
The 21st century seems to be the new dark ages.
Categories: Observations on life