Funny

At that point, is it a recession or should we just call the 2020s: depression part 2 AI boogaloo?

For an economy built on consumer spending this means that you get more economic growth by giving those rich people more money to spend, not by lifting up the other 90%.

You've gone and mixed up correlation and causation here.

The top 10% arent spending 50% of the money because they are the glorious saviors of the economy, protecting and nurturing it while us poor people thoughtlessly hoard and save all our wealth. It's actually quite the opposite.

Except they could still do that level of spending while not perched atop a massive hoard, and the rest could do cumulatively more spending via their sheer numbers if said hoard were distributed more evenly.

I wish upon a star that we could be a generation that takes power back for the average worker and uses our strength in numbers as leverage to have a better quality of life by making the wealthy pay their fair share.

But it's looking like our historic legacy is going to be that of a fool generation that votes against their own interests and refuses to stand up for themselves.

A very embarrassing time to be an American.

Seeing shit like this play out just makes it harder to keep going. At this point it's a matter of when I do it, not if. What point is there if it's only getting worse? I've seen my best years by now

Think about it this way: They were literally the most spoiled highest quality-of-life group of humans to ever exist on Earth in any timeline.

• Ubiquitous access to healthcare and vaccinations for longer life.
• Access to pensions and retirement options no longer available where the employer did all the legwork to ensure they had a future post-work so they didn't have to learn a thing about investing or retirement savings.
• Infrastructure that was borne from the Great Depression, so they had roads, bridges, dams all built up to last their lifetime with no care about maintenance, as they figure, "oh it was always there, it will always be there," so no money was committed to maintenance we are now having to do, freeing that money up to live like kings and queens in the short-term.
• Easy to access jobs, homes, boats, cars with little to no education or financial acumen. Just that "walk in and hand them a resume" trope they love to perpetuate.
• The most modern travel technology and geopolitical climate to go on vacation pretty much anywhere on the planet, and access to time to have vacation.
• Relatively calm planetary climate so they didn't have to worry about things like today's weather weirding with tornadoes where they shouldn't be, hurricanes going inland, hail everywhere, and on and on, all the while driving their 5 MPG giant SUVs all over the country while tossing their food wrappers on the side of the road.
• Cheap (during the majority of their lives) to relocate anywhere in the US or abroad if they wanted to work or live somewhere else, or be "snowbirds" when they're too wimpy to tolerate the winter in their home states.
• The same geopolitical climate prevented them having to grow up in war-torn anywhere.
• Access to any kind of entertainment imaginable any time anywhere.
• Artificially post-world-war inflated US economy that took some decades to spin down (that "Great Again" they fap to) - which only happened because the US joined so late and had few losses ourselves. The war never happened at home, so we got out for minimal effort/casualties/infrastructure loss.
• And they got to adult in an age of computer technology that enables them as olds to not have to drive their car, pick up food, or do any errands they don't want to do themselves, all without having to learn any technical skills because the tech was designed for idiots.

No human generation before or after them got to, or likely will ever, experience such a prosperous story-arc. They should consider themselves damn lucky and act like it, while supporting future generations to have a sliver of what their spoiled asses were able to enjoy.

Boomers grew up in a world with a 91% top-tier income tax rate that drove businesses to spend their excess income on products and services, which became their parents' paychecks.

You're forgetting that there are many brainwashed younger people who totally bought the bullshit. It won't be easy.

In about 25 years most countries will be warzones and anyone that cant afford whatever the elite are charging for the few freshwater sources left on the planet will be dead or enslaved. anyone within twenty degrees of the equator will have fled or be dead, and anyone living above ground anywhere else will live in nonpermanent shelters due to the yearly storms that destroy standing structure.

boomers will be taking the worlds habitable range with them, and leaving us with a nightmare.

He partially has lungs and a vocal chord ?

Though it reminds me of a conversation you can over hear in one of the Divine Divinity ~~Baldurs Gate~~ games between two skeletons, who talk themselves into how they shouldn't function, and then promptly fall to the floor in a pile.

Edit: corrected the game

Was the 2002 a year of recession? Or is the stock market downturn considered a recession because rich people lost money?

Capitalism works when it's allowed to work, and part of that is strong social safety nets... For the people, not the companies.

If we'd let banks and businesses fail in 2008 it, it would have been devastating at the time, but we wouldn't be in this hot mess today. Because the government is so friendly to failed businesses, models that play fast and loose can make huge profits, squirrel away that cash, fail, and then get bailed out by the taxpayer. Meanwhile, slower and more stable institutions get outcompeted in the short term, and don't get bailed out when they withstand the failing economy events.

Privatize the profits, socialize the losses.

Oh, and we need actual monopoly laws. No way in hell Amazon isn't a monopoly.