The 1980s Was (Statistically) Worse... Why Did It "Feel" So Much Better?

Thanks to Vanta for sponsoring this video! Get $1,000 off Vanta at https://vanta.yt.link/CqxoxUL

-----

Rana Farooha Interview -    • The Dangers of Financialization  

Sign up for our FREE newsletter! - https://www.compoundeddaily.com/

Books we recommend - https://www.howmoneyworkslibrary.com/

Listen on Spotify - https://open.spotify.com/show/5gi1Job...

-----

My Other Channel: ‪@HowHistoryWorks‬ ‪@HowMoneyWorksUncut‬

Edited By: Svibe Multimedia Studio

Music Courtesy of: Epidemic Sound

Select Footage Courtesy of: Getty Images

📩 Business Inquiries ➡️ [email protected]

Sign up for our newsletter https://compoundeddaily.com 👈

All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind.

#money #babyboomers #finance

------

By almost every conceivable economic metric the 1980s were worse than today.
Life expectancy, human development, median incomes, and household wealth were all lower…
And at the same time, unemployment, interest rates, and poverty were all higher…
Now you might say that at least back then people could buy a home and weren’t being forced to finance their burritos thanks to a cost of living crisis right?
Except that, actually… Throughout the 1980s home ownership rates were lower, interest rates were higher and inflation was even worse.
For the people who did buy a home, more than half of the average household income went to mortgage repayments alone, significantly higher than the 33% average today.
The houses themselves were also significantly smaller and accommodated more people on average.
And it’s also not like it was all because people were living off a single breadwinner either.
By the end of the 1980s it was actually even LESS likely to have a stay at home partner than it is today.
This is to say nothing of the modern conveniences, comforts and customs that have made our lives a lot more cushy.
but despite what the numbers might say, the late 80s and early 90s are often seen as the last time “the system” was working for the people. It was when the boomers fully entered the workforce and built the foundation that made them the wealthiest generation in history.
In fact even the majority of you guys watching, (you know, a group of people who willingly subscribe to look at depressing charts every week), still said that you would prefer to live back then.
which raises the question, are we just nostalgic for an economy that never really existed?
Or has something else changed that’s made all of these macro economic numbers comparatively irrelevant?