I think people need to start realising just how incredibly much the government is now stepping in at each of these crises to make them as smooth as possible. But there is a downside to this. You are not allowing the normal economic effects to happen because you are wanting to keep everything as it is, but then guess what, the status quo stays, and anyone joining the ladder is finding it increasingly difficult.
What's amazing is how the narrative around this however is that we need MORE government to set things right. Yet in the tech bubble the government blew up the real este bubble, in 2008 all the banks got saved along with loads of other insurance and other businesses, and now we have the largest stimulus packages ever. (on top of government subsidised student loans, which have made loads of money available for college, pushing up prices).
It's counter intuitive but in the long run this is BAD for anyone that doesn't already have something. It inflates asset prices, it locks in people who already have something. It's bad for millennials. And millennials shouldn't be arguing for more government intervention, but less. Let things fail, so that the waste can get burned off.
Unfortunately it seems a lot of people think things literally need to be burned down for there to be change. But let's be clear, 30-40 years of interventions by governments did this, which is exactly what left leaning people want of government.
What's amazing is how the narrative around this however is that we need MORE government to set things right. Yet in the tech bubble the government blew up the real este bubble, in 2008 all the banks got saved along with loads of other insurance and other businesses, and now we have the largest stimulus packages ever. (on top of government subsidised student loans, which have made loads of money available for college, pushing up prices).
It's counter intuitive but in the long run this is BAD for anyone that doesn't already have something. It inflates asset prices, it locks in people who already have something. It's bad for millennials. And millennials shouldn't be arguing for more government intervention, but less. Let things fail, so that the waste can get burned off.
Unfortunately it seems a lot of people think things literally need to be burned down for there to be change. But let's be clear, 30-40 years of interventions by governments did this, which is exactly what left leaning people want of government.