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Lost decade 2.0?

Old 08-19-2020 | 08:39 AM
  #151  
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Originally Posted by bababouey
Good point, the Great Depression saw a major advance towards socialism with the new deal. This crisis may be another huge step. I still don’t think there’s a massive groundswell for socialism, Bernie would be the dem nominee is there was.


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He almost was until the party all at once said "Whoa, there's no way Bernie will beat Trump. We gotta 'fix' this." and everyone went on a drop out and endorse Biden campaign.
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Old 08-19-2020 | 08:42 AM
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Originally Posted by highfarfast
He almost was until the party all at once said "Whoa, there's no way Bernie will beat Trump. We gotta 'fix' this." and everyone went on a drop out and endorse Biden campaign.
Yeah this was due to the DNC not wanting Bernie. He had a lot of support from actual voters. Not saying he was my cup of tea, but he was certainly popular.

I will say in a time like right now, it sure would be nice to have those student loans forgiven lol.
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Old 08-19-2020 | 10:53 AM
  #153  
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Originally Posted by bradthepilot
Work in a different industry that is much more insulated from economic turmoil? Airline gigs are fun, but it’s indisputable that they carry a larger amount of economic risk than many other occupations.

What industry is that exactly? I mean yeah aviation is on the upper bounds of the swings but plenty of accountants get let go and can’t find jobs during recessions.
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Old 08-19-2020 | 11:09 AM
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Originally Posted by bradthepilot
Work in a different industry that is much more insulated from economic turmoil? Airline gigs are fun, but it’s indisputable that they carry a larger amount of economic risk than many other occupations.
Fly cargo. People will ALWAYS need to buy stuff. Consumerism will never go away.
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Old 08-19-2020 | 11:09 AM
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Originally Posted by Downtime
What industry is that exactly? I mean yeah aviation is on the upper bounds of the swings but plenty of accountants get let go and can’t find jobs during recessions.
Software development is still in full swing; I know recruiters who can find Java or Python developers fast enough. Project management seems to be another area, locally, that is experiencing an uptick. There may be others.
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Old 08-19-2020 | 03:13 PM
  #156  
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Originally Posted by SonicFlyer
No wonder most of my fellow millennials are all socialist.

2 lost decades in 30 years so far?

How in the hell are we supposed to buy a house, save for retirement, etc?
1. Don't borrow money for a useless degree. Save money first, then go to school. Or get the military or an employer to pay for tuition.
2. Don't borrow money for a car you don't need. Reliable used cars can be had for $2500 or less all day. My last airport junker cost me $500 to purchase, I put 200k miles on it, and sold it for $500. Average cost of maintenance per year was $1200. Or get a bike. Or take public transport.
3. Don't rent a luxury 1BR apartment for $1500. Rent a non-luxury 2 BR/1BA apartment for $1200 and split it with a friend.
4. Don't borrow money for Starbucks, drinks out, and whatever else that millennials use credit cards to blow crazy money that they don't have.
5. Don't adopt a furry "friend" so unnecessarily early in life. Some study I found on the internet says that 57 percent of millennial households own a pet and the generation is 77 percent more likely than other generations to get a pet before they marry or have children. And many millennials make their home buying decisions based upon their pet. Something like one-third of millennials, which is the largest group of home buyers, buy a new home to have more space or a better yard for their dog. This age group also spends more on their dogs, with purchases of pet care items, toys, treats, and vet visits. None of this is necessary, but they won't admit that when they're whining about being unable to save for a house or a retirement when they're spending at least $15,000 on their dog over its lifetime (my guess is that it's much higher than that number. Save the dog for the retirement when you need an excuse to get out of the house and go to the park, enjoy not having that responsibility when you're 25-35 so you can go pick up extra shifts or spend a weekend out of town.

There's a ton of other ways to save money without living a miserable life, however millennials just can't admit that they're suffering from extreme lifestyle creep that is a product of being raised by boomers who've benefited more from economic growth than any other generation in the history in the world. Millennials are trying to live the boomer lifestyles that their parents do, without being willing to live well within their means for a decade or two to establish themselves financially first.
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Old 08-19-2020 | 03:15 PM
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Originally Posted by ZeroTT
The airlines have to deal with two things

1) pandemic pre-vaccine
2) economy post vaccine

#1 is clearly a disaster and the longer peoples heads get held underwater, the more carriers will fold.

#2 isn’t necessarily a lost decade. People guess, but nobody really knows how that’s gonna play out
Yeah, IATA and Boeing + Airline CEOs don't know what they are talking about. This will all be over and travel will be back to 100% by next year.
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Old 08-19-2020 | 04:19 PM
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Originally Posted by ShyGuy
Yeah, IATA and Boeing + Airline CEOs don't know what they are talking about. This will all be over and travel will be back to 100% by next year.
Well, to be fair, the Boeing CEO said we wouldn’t be back to even 25% by September but we were there in June. Aside from that, he’d be well advised to tend to Boeing’s other numerous issues...
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Old 08-19-2020 | 04:37 PM
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Originally Posted by ShyGuy
Yeah, IATA and Boeing + Airline CEOs don't know what they are talking about.
agreed. They don’t know what they’re talking about and neither does anybody else. This is unprecedented in airline history. Nobody has the slightest empirical evidence of how the economy and air travel is going to recover after the vaccine.

And I didn’t say it was gonna be back in a year. I said it might not take a decade
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Old 08-19-2020 | 06:04 PM
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Originally Posted by ShyGuy
Yeah, IATA and Boeing + Airline CEOs don't know what they are talking about. This will all be over and travel will be back to 100% by next year.

I mean there are numbers between 0 and 100% and some of those numbers still make airlines money. Just not as much as last year.
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