… Millennials will have a hard time just to keep the living standard of their parents. (most won’t)
a strong middle-class was the basement of the Western Economy – it has been sucked out.
I blame the utterly unsustainable nature of unlimited free-trade capitalism and THE BANKS (Central and Private) for it.
the current monetary debt-money-by-private-banks-system is a unsustainable catastrophe
monopolies do not work forever
Unlimited (no limit in the amount of wealth a single individual can acquire, like possess a million houses or the whole planet?) to form monopolies = trade in balance (dependencies on things people need to survive: energy, medicine, food/seeds, you name it) – thus the bigger companies get even bigger (right now you can observe a lot of mergers – that is exactly that).
Merge – merge – acquire – until there are only one bank, one oil company, one electricity company, one car company building cars (without jobs, only robots) for the whole planet – but not selling them cheap.
Profit creation without job creation + falling wages?
With what income are people supposed to buy these cars?
More private household debt ain’t going to cut it.
It is the dilemma of in balance by monopolies – it just does not work or is massively unsustainable (works only short term) – the same with trade in balances (it is exactly the same as in-debt house holds but on a nation level).
Yes – you can create more money and give it to the poor to avoid revolution and riots – but we also need sustainable role model lifestyles:
generating your own electricity (learning how to setup solar power systems and batteries)
grow your own food
learn how to recycle your waste
learn how to build stuff yourself
… all of this is a lot of work but greatly REDUCES your trade-deficit = dependency on monopolies – why not praise it with a little extra money from the state?
Great, thanks all involved, what now?
evolution or revolution?
We will have to change the way we live (aka “The World”) – the old ways ain’t workin’ no more.
“Millennials, also known as Generation Y or Gen Y, are the demographiccohort following Generation X and preceding Generation Z. Researchers and popular media typically use the early 1980s as starting birth years and the mid-1990s to early 2000s as ending birth years. Millennials are sometimes referred to as “echo boomers” due to a major surge in birth rates in the 1980s and 1990s, and because millennials are often the children of the baby boomers.”
They do not provide enough liquidity for the real economy (companies and company founders with ideas).
if this is not correct: where can i apply for my 0% loan payable over 30 years?
so the whole thing you call EU economy goes bust!
I think a major problem is that the US (indeed) sees itself as the successor to the British Empire and thus thinks it still has the “right” to govern it’s overseas colonies.
This relationship has to transform rapidly into a true honest and open partnership or relations will get more and more hostile.
Trump is NOT exactly the right candidate to do so, thus Putin welcomes whatever splits “The West” and “The West” is easily split… btw. “the EU” as “United States of Europe” will not work – for the simple fact – that the US is cultural much more homogeneous than Europe (most cultural diversity you can imagine) – so one size / one currency fits all is doomed to fail.
I surely can imagine that some people like the “one currency shall rule all of Europe” idea out of power greediness – but it will not work.
if IMF wants to see a strong EU economy – “the banks” need to provide liquidity for people with ideas that want to do companies, not even existing well running companies can get loans to redo their infrastructure these days – and the IMF blames it on them.
Would be the point to leverage – to make sure people actually have meaningful work and access to money (afaik “states” “the EU” can not go bust? unless the ECB wants it to?).
But then again – “the banks” are not obliged to take responsibility for society – they are only obliged to make profit – this is basically asking for self destruction and this is what we see right now.
PS: the IMF is based in Washington and thus just as the World Bank or Goldman Sachs has not exactly the will of the people in mind.