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IronWing

No Lifer
Jul 20, 2001
69,559
27,864
136
Yeah I just personally disagree. Notwithstanding some bizarre outlier circumstance, a 30 year old adult should NOT be living in mommy's basement.


I agree, if we are talking about multi national mega corps. But by far the #1 employer in the US are small businesses. And contrary to what you read about online, small business owners aren't sitting on yachts smoking cigars while paying slave wages. They deal with MASSIVE risk, stress, some years you make money other years are tight. There's a reason small business owner's statistic have much higher rates of heart disease and other stress related ailments.
Massive risk with LLCs to shield them? Try the massive risk of being an employee subject to wage theft and being thrown out on street if they lose a job.
 

Vic

Elite Member
Jun 12, 2001
50,415
14,307
136
I have increased pay by an average of 30% since covid hit. I pass that 30% directly to the client. The client passes that on as well. Which results in.... inflation. Which means I am not paying staff enough again.

From my perspective, it's really not a wage issue, it's more of a work ethic issue. I'm in a professional/licensed field that requires a bachelors and most have a masters.

It feels like some kind of cultural shift for the lower skill/no skill jobs needed for small business. Our dog groomer has increased fees 40%. She's about to close her retail shop because she's losing customers and can't afford a space.
First, that is not how inflation works. I know it seems intuitive but it's just not. Inflation is the result of more dollars in circulation against overall economic productivity.
IOW the Fed's previously loose monetary policies created the inflation, which is why tightening policies are being used to combat it (and have largely worked).

Second, your dog groomers is increasing rates because her rent has gone up. And rents have gone up because the GOP's tax reform in 2017 made it profitable for Wall Street and other institutional investors to hoarde real estate.
 
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Vic

Elite Member
Jun 12, 2001
50,415
14,307
136
Not everyone has to purchase a home. Rent for now while building up savings. Learn a more marketable skill to increase your income. Cut out all of the frivolous BS spending.

Pay rent to parents, lol. Of course it's a better "deal". But it's a huge detriment to growing into a mature adult when you can float around your parents house with little to no responsibilities.
Says the clown with a dog groomer.
 

fskimospy

Elite Member
Mar 10, 2006
84,830
49,532
136
Not everyone has to purchase a home. Rent for now while building up savings. Learn a more marketable skill to increase your income. Cut out all of the frivolous BS spending.

Pay rent to parents, lol. Of course it's a better "deal". But it's a huge detriment to growing into a mature adult when you can float around your parents house with little to no responsibilities.
Even renting is now much more expensive than it used to be thanks to NIMBYs preventing adequate housing from being built.

 

PumpkinCake

Member
Nov 2, 2023
158
108
71
At least we got to the "quit buying avocado toast" portion of the discussion quickly.
There is a really good youtuber named Caleb Hammer who goes through millenials budgets and spending. The VAST majority are suffering financially purely due to spurious spending or refusing to get a job. It's really insightful into the real problems with millenials and spending.

Massive risk with LLCs to shield them? Try the massive risk of being an employee subject to wage theft and being thrown out on street if they lose a job.
LLC lol, it takes nothing to pierce the LLC veil.

I've been on both sides. It is much MUCH easier to go work for someone else.
 
Reactions: Pohemi

Pens1566

Lifer
Oct 11, 2005
11,849
8,447
136
There is a really good youtuber named Caleb Hammer who goes through millenials budgets and spending. The VAST majority are suffering financially purely due to spurious spending or refusing to get a job. It's really insightful into the real problems with millenials and spending.


LLC lol, it takes nothing to pierce the LLC veil.

I've been on both sides. It is much MUCH easier to go work for someone else.

Ah, random youtuber. I'm sure there will data/sources cited ...
 
Reactions: Meghan54 and Pohemi

repoman0

Diamond Member
Jun 17, 2010
4,544
3,472
136
There is a really good youtuber named Caleb Hammer who goes through millenials budgets and spending. The VAST majority are suffering financially purely due to spurious spending or refusing to get a job. It's really insightful into the real problems with millenials and spending.
How fun, another boomer bitches about millennials thread. Filled with BS arguments too! I wonder where all these people refusing to get a job are with unemployment under 4%?
 

PumpkinCake

Member
Nov 2, 2023
158
108
71
Says the clown with a dog groomer.
Yep. I've worked my ass off my entire life. I'm at a point where if I can do anything to give me some free time it's worthwhile.

Even renting is now much more expensive than it used to be thanks to NIMBYs preventing adequate housing from being built.


Sure, another good topic. During covid, the government showed landlords (both individual and corps) that if there's some kind of mini crisis they are going to have to eat shit. Now everyone is pikachu face shocked that landlords are no longer uncle bob with his spare lakehouse. The only group that can accept that risk are mega investment firms, typically foreign, who use them more to hold assets/wealth than anything else.
 

Vic

Elite Member
Jun 12, 2001
50,415
14,307
136
Reactions: Pohemi

PumpkinCake

Member
Nov 2, 2023
158
108
71
Ah, random youtuber. I'm sure there will data/sources cited ...

Go watch a couple of his videos. It's not random data. He interviews millenials and helps them with their budgets and finances.

Edit: how do I turn off this thing that makes me wait 5 minutes between posting a comment.
 

Paratus

Lifer
Jun 4, 2004
16,850
13,785
146
Yep. I've worked my ass off my entire life. I'm at a point where if I can do anything to give me some free time it's worthwhile.



Sure, another good topic. During covid, the government showed landlords (both individual and corps) that if there's some kind of mini crisis they are going to have to eat shit. Now everyone is pikachu face shocked that landlords are no longer uncle bob with his spare lakehouse. The only group that can accept that risk are mega investment firms, typically foreign, who them more to hold assets than anything else.
Or landlords are colluding on prices

 

PumpkinCake

Member
Nov 2, 2023
158
108
71

fskimospy

Elite Member
Mar 10, 2006
84,830
49,532
136
Yep. I've worked my ass off my entire life. I'm at a point where if I can do anything to give me some free time it's worthwhile.



Sure, another good topic. During covid, the government showed landlords (both individual and corps) that if there's some kind of mini crisis they are going to have to eat shit. Now everyone is pikachu face shocked that landlords are no longer uncle bob with his spare lakehouse. The only group that can accept that risk are mega investment firms, typically foreign, who use them more to hold assets/wealth than anything else.
This is not a COVID phenomenon, this has been happening steadily for years, accelerating after the 2008 financial crisis as adequate housing has not been built.

It’s not a complicated problem, it’s simple supply and demand, but the result is greater wealth for incumbent landowners and increased costs for people just starting out. Add on to that the exploding costs of student loans thanks to cuts in higher education funding and you have a world that’s a lot more expensive for those under 30 than it was for you.
 

sactoking

Diamond Member
Sep 24, 2007
7,547
2,759
136
The Buffalo Wild Wings near me is closing due to persistent lack of staff.
 

Vic

Elite Member
Jun 12, 2001
50,415
14,307
136
Yep. I've worked my ass off my entire life. I'm at a point where if I can do anything to give me some free time it's worthwhile.
Good for you. Too bad you delude yourself into thinking you're the only one whose worked their ass off their entire life.

What's your solutions to all this anyway? Have we entered the part of the discussion where the self-labelled small govt free market conservative demands govt action to deprive certain workers of their negotiative ability and force them to work for below market wages?
 

PumpkinCake

Member
Nov 2, 2023
158
108
71
Good for you. Too bad you delude yourself into thinking you're the only one whose worked their ass off their entire life.

What's your solutions to all this anyway? Have we entered the part of the discussion where the self-labelled small govt free market conservative demands govt action to deprive certain workers of their negotiative ability and force them to work for below market wages?

No, I think it's a cultural issue, not a govt/legal one.

I also put a lot of blame on gen x/boomer parents, who raised their kids to "follow your heartttt money will followww". And let their adult children live in their basements never learning accountability, finance, basic social requirements.
 

Stokely

Golden Member
Jun 5, 2017
1,784
2,336
136
As always, it's not simple. I know young adults (mostly through my son) that are super good about saving money, work their ass off etc. I know some that aren't. I know a couple super into Crypto which is a whole nother conversation. You can't generalize about whole generation of people.

I'm honest enough to look back and say that 30-40 years ago people were no more lazy nor hard-working than they are now. They were both and all points between. It's just blame game simplistic bullshit, "Axis of Evil" style. Gotta find that simple boogeyman to blame.

However, you can look at numbers and say that a ton of people simply can't afford to live on their own. It's simple fact. Is requiring people to work multiple jobs to make rent for even a lower-level place a good thing? Doesn't seem sustainable or healthy. No wonder so many young people look at what's happening and say "screw having a family". For one thing, they can't afford. Kids are freaking expensive. Of course they are looking at other things, like Climate Change.

And remind me, how are those CEO salaries doing? Very well, thanks! Whoops, don't want to be called a nasty dirty socialist, but c'mon...when some boob gets let go after driving a company into the ground and still gets millions in severance? That's fucked.

I'm a (small-time) landlord myself and I can at least say there's no nefarious collusion happening that I know of But we are feeling the squeeze too. Insurance is through the roof, no pun intended (since roofs are a big reason why insurance companies are leaving FL in droves, there are very few left). Who's at fault? As always, not simple to find a black hat bad guy. Lots of people wearing gray.
 
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