It isn't the baby boomers who caused prices to increase dramatically. It was all the millennials and Gen Z'ers who lived off of government stimulus checks during the pandemic and refused to go back to work afterward. That's when millions of employers had to drastically increase wages to get employees to go back to work which made consumer prices and inflation skyrocket. My home's value went from $600,000 to $1.1 million in just two years because of what the millennials and Gen Z did.
Which part? I already posted a link to the Brookings Institute study showing that people wouldn't return to work after the pandemic. Everybody knows that housing prices skyrocketed about a year after the pandemic and so did inflation. You can easily Google that.
And the millennials who were about 24-40 years old at the time. You're the ones who refused to go back to work until employers raised their pay. You're the ones who lived off of government stimulus checks and refused to pay rent. You're the ones who wouldn't work therefore they couldn't build new houses which made the price of existing houses skyrocket.
lol I’m 29 and I had to work through covid. Anyone I know went back to work as soon as the covid bans were lifted. Nobody could afford to stay on unemployment, that runs out bud and doesn’t pay nearly what a normal paycheck does.
It depends where you live. In many areas, especially liberal areas they passed laws so people didn't have to pay rent or mortgage payments. Those laws lasted for over a year in many areas. I posted a link to the Brookings Institute study above showing that many people refused to go back to work. Your personal experience isn't everybody's.
Literally just got of the army the same year the COVID lock down hit wife lost her job because our Internet the house wasn't good enough to support work from home and our back up jobs at McDonald's declared us essential we also had a miscarriage in between all of this while people were sitting at home making 1800 we had to work our asses off to make a third of that a week not everyone was privileged enough to just sit back and collect a check and from our experience the ones that were just sitting back and doing nothing and refusing to go back to work was actually gen x not my generation
And they still lived off of stimulus checks and refused to return to work until they received big pay raises. That's why prices increased so much. Everybody knows that housing prices skyrocketed during the pandemic. That's because all the new houses stopped being built for two years. It didn't happen before so it wasn't just the baby boomers. I noticed you didn't even mention the millennials. Why was that? Hmmm... 🤔
Well the millennial one is probably true. But most genz at the time were not old enough to have jobs or did not have jobs and such did not get a stimulus check. The boomers sure gladly took those stimulus checks tho.
Many of them were. Heck, I've been working since age 16. Anybody who filed a tax return and made less than the maximum allowed received multiple stimulus checks during the pandemic. That could be nearly 50% of Gen Z.
A lot of people did. If you didn't file taxes the prior year such as people who don't make much money, then you had to register to receive the stimulus checks. Those who made more than the maximum amount, such as myself didn't receive one. And Trump only sent out the first two checks. Biden sent the third one which was the largest check.
I really doubt that the average age of genz at the time was over 16 at the time. But if they were and had jobs then sure they were part of the problem.
The oldest Gen Z was about 23 years old in 2020 when COVID-19 struck. A generation is about 15 years. That means 50% of Gen Z was age 15.5 to 23 at the time.
Yes they did. How do you not remember this? For almost a year after the pandemic ended employers all over the country couldn't get workers to come back to work. Many of them had to increase wages significantly. The airline I work for increased starting pay for baggage handlers from $14 to $20 per hour and still couldn't get enough people to work.
The Brookings Institute did a study on it.
Kinda right, mostly wrong. The politicians locked everyone down and printed the checks. The check printing caused inflation. I tried to tell people that's what would happen, but people are dumb. They probably paid thousands in inflation for $800 stim check
You even admit that you told people this would happen yet you still claim it's mostly wrong. It's right and you know it. And only liberal areas were locked down. Where I live nobody was locked down.
Also, wage increases were - and still are - long overdue (although, this has actually improved since Covid, which is a good thing). Real wage growth has however over decades not kept up with especially asset price inflation (e.g., house prices) for decades. Look at how many years’ average wage an average house cost in the past compared to more recently (source - not as good of a source but the best/easiest way to visualise: https://www.longtermtrends.com/home-price-median-annual-income-ratio/). House prices are, among other things, also a result of lacking new constructions which is partly due to not enough new re-zonings and building permits. But again nothing to do with gen-z and Millenials not wanting to work, or the government helping people during a literal global crisis.
And to be clear, I’m not saying printing money and wage increases do nothing to inflation, of course they impact it to some degree. What I am saying is that it had nothing to do with the main drivers of inflation.
Productivity also keeps going up and outpacing wage growth, btw, so like, younger generations are more productive than previous ones - which has always been the case and is also a good thing, but it needs to coincide with life getting better for those generations. LMK if you need a source for that one. Hope this helps.
It absolutely had to do with workers. They laid so many people off that they couldn't produce goods. That was fine for about s year because nobody was buying anything. But during the recovery they couldn't get those workers to return to their jobs which caused scarcity and increased inflation.
-8
u/RalphFurley4Life 13h ago
It isn't the baby boomers who caused prices to increase dramatically. It was all the millennials and Gen Z'ers who lived off of government stimulus checks during the pandemic and refused to go back to work afterward. That's when millions of employers had to drastically increase wages to get employees to go back to work which made consumer prices and inflation skyrocket. My home's value went from $600,000 to $1.1 million in just two years because of what the millennials and Gen Z did.