Quote:
Originally Posted by Dion
It's a generational thing that's been going on forever. The young vs the old bickering/finger pointing is not something new and was going on when my parents were growing up. Be grateful for what you have, deal with what you have and move on.
|
As someone who's done well for themselves as well, and had significant support from their parents, I am grateful for what I have.
That being said, I worry about the major decay going on in society. I know plenty of people who were less fortunate than me, who slave away for sustenance. The cost of real estate and capital is so out line with wages, that most Canadians are racking up huge amounts of personal debt. Social mobility seems non-existent, as it's extremely difficult to start your own business or invest in property. People who got into the market 10+ years ago are making out like bandits.
There also seems to be a large amount Boomers who are relying entirely on CPP and home equity for their retirement. As a lawyer I see all sorts of tax returns and financial statements from people. I see Boomers borrowing from their home equity. They are betting on real estate constantly going up, which historically just does not happen. CPP seems fairly tapped out as well.
Overall, it seems like a lot of people are in denial about the state of the Canadian economy. We've refused to acknowledge the massive debt burden that most Canadians have and also the increasing inflation that it is eating away at the purchasing power of the average Canadian.