Comments by "Nattygsbord" (@nattygsbord) on "Growing Up During the Great Depression" video.

  1. It depends on what your life goals are. If you want to have a nice car - then you might have to work 5 years in your life. And eat pizza at a nice resturant every friday - then you might have to work 5 years of your life. If you want a life with go skiing every winter and travel a few weeks to the sun every year - then you might have to work for say 10 years of your life. And you want a nice house - then you have to work another 10 years of your life. And then you want 3 kids - then you might have to pay for them for 15 years or so. And then you need another big house with space for your enlarged family - then you might have to work another 15 years of your life to pay for it. And then you might wanna have other stuff as well.. white whares etc So in the end do you might have to work a large part of your life to pay for all those things. Some people do not wanna pay for those things. They move to a country with low taxes on labor and work their asses off the first 10 years after they finished collage. And then they can retire afterwards at their 30th birthday if they just skip all the mentioned luxuries mentioned above and live cheaply instead and get much free time.
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  2. I think good times and bad times regarding inflation and deflation is a bit like this. People who like deflation will say that food is so cheap but complain that wages are low. And people who likes inflation can remember that they bought a huge palace, and then came the inflation of the 1970s and paid it all off so one almost got it for free. But what inflation lowers often later on complain about is the higher costs for food.
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  3. I think the mentality was formed of this time period. When you look at old peoples homes you always see them save up things, including total garbage. They truely embraced the 2nd hand trend so to say. They rather kept things and tried to repair them than throwing them away. And in old peoples homes you can see old ugly butter packages being repurposed after the butter is gone, and becoming used as boxes. Compare that to the current day mentality of throwing away things and buying something new. Its often cheaper to buy a new computer than repairing and old lap top that is a little bit broken. I think that says a lot. Resources was scarce during the great depression and people had to make do with what ever little they had. And even if some people did get rich and succesful later on, would their values and habits still live on long after the economic crisis was gone and economic growth was strong. Its also clear that people have their worldview stuck in the past. People who had their worldview formed in the 1950s often have an over romanticised view of free trade, the EU and an obsessive fear about inflation leading to Hitler. We who was born in the 1980s see a society without any progress like more vacation, shorter workdays, better healthcare, better pensions, full employment. But rather a failed economy without affordable housing where it is hard to form families and have kids. I think there are pros and cons with those worldviews and values. One thing I think we should however avoid is to let these biases of the elderly generations getting too much power over decision making. I think outdated beliefs are harmful. Just like using tactics that worked on the battlefields of the old days do more harm than good on a modern battlefield. The worldview must constantly be updated. Just like the military. Walking in line formations and wearing colorful uniforms and letting flutes and drums play is not very effiecent if you fight against an enemy with minefields, machine guns, barbed wire, and HIMARS artillery. Many laws of economics from the past are still valid today, just like some general principles of strategy and logistics. However the world today is not the same as in the past. And that needs to be taken into account.
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