this post was submitted on 28 Mar 2024
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189
We compared the finances of 30-year-olds now, to 30-year-olds 30 years ago (www.abc.net.au)
submitted 7 months ago by Nath@aussie.zone to c/australia@aussie.zone
34 comments fedilink hide all child comments
 

I'm sure this whole article comes as a shock to nobody, but it's nice to see it recognised like this.

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[–] Ilandar@aussie.zone 37 points 7 months ago (1 children)

The phrase "perfect storm" doesn't necessarily relate to luck, it just means many bad things have happened or are happening at the same time. Which pretty accurately describes the era millennials are living in.

[–] Spendrill@lemm.ee 33 points 7 months ago (1 children)

The bad things did not just happen, they were conscious choices or the inevitable consequences of those choices. I'm criticising the framing of this situation by the use of the passive voice in this subhead.

[–] Ilandar@aussie.zone 12 points 7 months ago (1 children)

The bad things did not just happen, they were conscious choices or the inevitable consequences of those choices.

Which the authors then go on to explain in further detail, following the introduction. It's right there in the sentence you cherrypicked that phrase out from:

An analysis of five factors — housing, healthcare, debt, tax, and income — reveals the age group is caught in a perfect economic storm.

[–] Spendrill@lemm.ee 9 points 7 months ago (1 children)

Here's my improved version:

An analysis of policy, formed by corporate interests and pushed upon the public in the 1980s, shows how it deprived the current crop of young adults of social housing, under-invested in public healthcare, enabled predatory lending practices, distorted the tax system so that a disproportionate amount fell upon the lowest three deciles of tax payers and hobbled unions while outsourcing manufacturing to the developing world causing earnings to plummet.

[–] Ilandar@aussie.zone 6 points 7 months ago (1 children)

Aaaaaaaaand breathe!

[–] Spendrill@lemm.ee 4 points 7 months ago (1 children)

Yeah, I know, wrong meeting.

[–] mranachi@aussie.zone 9 points 7 months ago (1 children)

Nah good on you, fight the good fight. It wasn't series of mistakes it was deliberate policy choices. Policy choices that show no sign of being changed. Capitalism has eaten democracy from the inside out, it will continue dancing around inside is skin till we see it for what it is.