Comment by throw0101d
4 months ago
> Canada here. Feels like we're barely hanging on to rung 5 or 6 and about to fall to the bottom.
The Missing Middle podcast went into this in a recent episode, and it's age-dependent: older folks are happier (i.e., they have purchased homes), while younger folks are less happy (cost of living). We Canadians basically have age-dependent wealth-class nowadays.
The fact boomers have it so good yet our ranking is dropping like a rock tells you just how bad it is for the working class, especially those who don't have government jobs...
It’s the same in Australia. And they will live for another few decades most likely, so this only gets worse as far as I can tell.
While the government removes all the benefits boomers and Gen X got to use to build their wealth, ensuring the ladder is firmly pulled up behind them.
Reminds me of the labour union negotiations where to preserve existing member benefits they forfeited future member's access to the same.