Comment by paulryanrogers

Bad times and golden eras do happen. Yet we only get one lifetime, which can fit entirely inside one or the other.

It's entirely rational to worry we're in the midst of a bad time for many, possibly even most as the median slips into the lower class.

My grandfather lived in a golden era. Worked as a cookie salesmen/stocker to earn a pension and got the GI bill even though he was never deployed. He retired in his mid 60s with two homes, motor boat and dock (used every summer weekend), two cars, a healthy stock portfolio, and had raised four kids.

My father needed a college degree but otherwise did nearly as well.

I had to go to college and will likely never afford two homes, much less a boat, no defined benefit pension, taxable social security with higher age threshold and reduced benefit, little retirement savings, have been laid off, had to change jobs repeatedly to get raises, trying to raise half as many kids, and have already begun supporting extended family members. It's also very possible my career will cease to exist, or become a niche role with crushing oversupply of labor for many years to come.

Modern work may be more interesting for those who can get it. Increasing specialization does leave behind folks of below average ability. Underemployment is also a thing when labor is disorganized and demand is low.