Ask Lemmy

I think this happens in other countries too. It's a result of neoliberalism:

• They cut spending on education, social security and publix infrastructure. That makes it harder for the youth to get started.
• They also cut taxes on the wealthy - meaning a lot of the wealth remains with older generations and especially the richest 5%.
• And finally, they pursue union busting, deregulation and globalization. By playing out the interests of workers in different countries (or different ethnicities in the same country) they're making it harder to collectively bargain for good wages and good working conditions.

Now, I think the US is having it especially bad. In Germany they do regularly cut social security but we have public health insurance (though the rich get to opt out instead of paying their share) and overall a wealth distribution which is not good but also not quite as bad as the US. We also have a very different job market: Due to lack of highly educated workers, it's easy to get a job and good conditions if you have a good education (which is basically free if you can afford to take the time). And they can't fire you willy-nilly, this is hugely important for becoming financially stable and feeling safe.

Our main problem economically is the "Debt Brake" - a rule that limits government debt (and thus spending) without accounting for the required infrastructure investments. That doesn't make any economic sense - anyone would loan money to make an investment if that facilitates economic growth!

In my experience, things are a bit similar in Austria, Europe. I had worked an internship in a software development company around 2016, and things were splendid. Everybody was in a good mood, and things seemed to move smoothly. One year later, in 2017, people were holding back a bit more.

I went there again in 2019, and it was okay. In 2020, the business closed.

I think the halt of economic growth is a global phenomenon. Throughout human history, there used to be three big waves of development:

• agricultural (farmers) - biochemical work
• industrial (machine operators and construction) - mechanical work
• information (IT) - electrical/information work

now, it seems to me, the economy is fully developed, and growth slows down. The only growth i foresee in the future will be the settlement of Mars (because mars can theoretically hold up to 1 billion people), and "cleaning up" on Earth (renewable energy).

We have worse wealth inequality than the golden age

Go look at housing prices vs incomes in the USA, then do the same for Canada. I'll let you draw your own conclusions on how people feel up here.

Sounds like this whole capitalism thing we were sold was a lie. And most countries adopted it or already had that system before the U.S. showed up. Capitalism requires infinite growth, so we artificial insert these boom bust cycles to make the rich richer, and everybody else can eat a dick.

Americans are indoctrinated that you have to work for someone else to live, that you have to have a lot of nice things to look successful, that certain jobs are down the chain of the hierarchy, and that there is a hierarchy at all. Temporarily embarrassed millionaires and all that.

Sweden. I'm sure some would disagree, but from my perspective, things here are more OK. Most people i know thats my age (35) with a degree (free tuition) earn more than their parents. Live in decent houses and can comfortably support family with 2 kids on like 1.5 salary.

Not as easy without an education, of course, but if you manage a stem degree, you will likely live a decent life.

Brazil has been stuck for a number of years now, at the very least since 2016. Then again, Brazil being kinda shitty overall is just the average experience, our inequality has always been among the worst ranked in the world

No opinion on this as I’m an American, but as evidence I’d point out that ruling parties all over the world have been removed from power.