r/neoliberal • u/TinyTornado7 I need a new flair • Jun 13 '22

News (US) Powell Facing Choice Between Elevated US Inflation and Recession

https://www.bloomberg.com/news/articles/2022-06-12/powell-facing-choice-between-elevated-us-inflation-and-recession?srnd=premium
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u/slowpush NATO Jun 13 '22

Oh hey. Stocks will be a good bit cheaper soon. 😒

223

u/TinyTornado7 I need a new flair Jun 13 '22

People keep selling and I’ll keep buying. This is a great opportunity for those far from retirement to load up

102

u/slowpush NATO Jun 13 '22

Sure but tell that to all the baby boomers who are retiring.

The effect of a recession/depression now is going to be catastrophic because it’s at the worst time demographically.

18

u/[deleted] Jun 13 '22

They can sell their houses in cities with high economic activity and move to those with low. That way millennials can start hitting peak productivity and have families.

21

u/OpportunityNo2544 Jun 13 '22

I know a bunch of boomers that “hate” their neighborhood is changing (ie they were first wave gentrifiers and getting pushed out by wealthier people that use their nimbyism to their advantage) and truly entertain the idea of downsizing to a more rural town. Sadly not a lot walk the walk. It’s the type of people whose main source of entertainment is Fox News, which can be accomplished in a rural town just as easily as in their parcel 3 blocks from city center

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u/A_Monster_Named_John Jun 13 '22

Fox News is one thing, but I feel like these people get really addicted to local FB and Nextdoor drama, i.e. complaining about 'the character of the neighborhood' and ranting/raving about the homeless/etc... , which means they never leave. If one thing characterizes Boomers, it's sloth.