If America's so rich, how'd it get so sad? • Hacker News Board

Re: If America's so rich, how'd it get so sad?

#921

Post by derangedHorse » Fri, Apr 24, 2026, 11:13 AM UTC

pjscott wrote: post #733

grafmax wrote: post #666

Earlier quoted context omitted.

> inflation adjusted wages are actually up over the long term Inflation is a tool for monetary policy. It doesn't track cost of living. For example, if luxury items become more affordable, but housing prices rise, inflation-adjusted pay doesn't capture this kind of negative effect on the working class.

It doesn't track cost of living? The way it's calculated is all about cost of living! In the US, the official inflation numbers are based on a "basket of goods" meant to be representative of a typical person's spending. Housing currently makes up about a third of the basket, while luxury items are a fairly small percentage. Here's a pretty well-written summary, albeit with numbers from 2022: https://www.pewresearch.o…

Housing is actually ~44% in 2024, but the subcategory of 'Shelter' is ~35% for CPI-U. 'Shelter' is further broken down into rent and owner's equivalent of rent. 'Owners' equivalent rent of residences' is ~26% for CPI-U and ~21% for CPI-W, 'Rent of primary residence' is around 7% and 10% respectively.

Depending on how one live their lifestyle, the 'inflation' calculation can greatly vary in relevance.

Source: https://www.bls.gov/cpi/tables/relative-importance/home.htm

Re: If America's so rich, how'd it get so sad?

#922

Post by bdangubic » Fri, Apr 24, 2026, 11:28 AM UTC

tekla wrote: post #557

bryanlarsen wrote: post #513

Earlier quoted context omitted.

Is Hacker News not social media?

It totally is.

What is lacking for it to be social media (IMO). - no direct messaging (lacking social aspect) - no media (text only) - no phone app - no ads - no influencers - no company feeding you algorithmic shit to make you buy shit - not evil :)

Re: If America's so rich, how'd it get so sad?

#923

Post by monideas » Fri, Apr 24, 2026, 11:40 AM UTC

kubanczyk wrote: post #885

monideas wrote: post #695

Earlier quoted context omitted.

> non-scientific worldview Existence itself is beyond science and this is trivial to prove. Everyone with an above room temperature IQ can understand Aristotle's Prime Mover argument. Note that this concept (which again, is at least as old as Aristotle) has nothing to do with religion.

> this is trivial to prove Please don't forget to state the axioms before building the proof.

You can look up "prime mover aristotle" and "cogito descartes" if you're interested.

Re: If America's so rich, how'd it get so sad?

#924

Post by disgruntledphd2 » Fri, Apr 24, 2026, 11:46 AM UTC

marcus_holmes wrote: post #775

redleggedfrog wrote: post #473

Earlier quoted context omitted.

I'd also add that healthcare is serious shit-show as it currently stands and the best strategy is to just stay as healthy as you possibly can to avoid having to go to the doctor, if you can even find one who will see you. Remote work is an interesting one. Before you had 8-9 hours a day of serious social activity, and if you were lucky, people you enjoyed. Even if you didn't enjoy the people, you were at least social…

> Before you had 8-9 hours a day of serious social activity This is a major difference between US and Euro workplaces that I have noticed. In the USA, there is plenty of time for chat with colleagues, and everyone stays at work longer. In Euro workplaces it tends to be more focused on work and then everyone goes home at 5. The most extreme example I've worked in was in Dublin, where there was an explicit "you are giv…

> The most extreme example I've worked in was in Dublin, where there was an explicit "you are given 8 hours of work, and 8 hours to do it in. If you need to stay longer than that then you must be incompetent", and the entire office, everyone, emptied into the pub at 5pm. All the socialising and "cooler chat" happened over pints of Guiness in the pub. The folks with kids would have one or two and then go home, or not drink at all and then go home. The less attached folks stayed on for several. But everyone came to the pub at 5, regardless.

I want to call out that while generally, Irish working hours are pretty capped, most people at most companies definitely don't go to the pub at 5pm. I am Irish, and work in Ireland (but mostly for multinationals) so 5pm pub time (unfortunately) doesn't work when you need to talk to California.

Additionally, I normally agitate for the whole 8 and only 8 hours of work, as lots of professional people in Ireland are quite driven (or people pleasing) and tend to work longer hours.

That being said, there are some employers where this definitely is a thing (particularly on Thursday or Friday), but it's 100% not the standard.

Re: If America's so rich, how'd it get so sad?

#925

Post by greenavocado » Fri, Apr 24, 2026, 11:55 AM UTC

yongjik wrote: post #847

greenavocado wrote: post #783

Earlier quoted context omitted.

To be pedantic what most people consider ownership is a revocable land lease from the state government which you forfeit if you fail to pay protection money to the gov. True ownership is non-existent.

Sovereign citizen? On my Hacker News? ...It's more likely than you think !!

I never claimed that. It is clear whose jurisdiction we are in.

Re: If America's so rich, how'd it get so sad?

#926

Post by carlosjobim » Fri, Apr 24, 2026, 11:58 AM UTC

trhway wrote: post #657

tempaccount5050 wrote: post #649

Earlier quoted context omitted.

From what I understand, yes. My 24 year old coworker makes $65k/year and has a $2200/mo mortgage. It's an old starter home in the Midwest, nothing fancy. It stresses him out to the point of not going to a happy hour once in a while unless there's a buy one get one deal or something or I offer to buy (which I do happily). No vacations, no eating out, no fun. It's super sad to see. He talks about being in his prime but…

fast-forward 15-20 years. He has most probably paid out his mortgage (salary growth/inflation, etc. so most people i know paid their mortgages in about 15 years, and some by that time got second or even 3rd property - the observations are over the last 30 years here, included are only salaried employees and excluded are the ones who made "exits" which is completely different game level). Even if he is still paying hi…

> Add the land/home appreciation - about double.

Birth rates have collapsed completely, so this gravy train is ending very soon. There won't be another sucker to buy the real estate, because new buyers aren't being born.

Re: If America's so rich, how'd it get so sad?

#927

Post by Suzuran » Fri, Apr 24, 2026, 12:10 PM UTC

America is not rich. A handful of Americans are rich. The rest of us are not, and can never be allowed to become rich because that would not be in the interests of the aforementioned handful.

Re: If America's so rich, how'd it get so sad?

#928

Post by cindyllm » Fri, Apr 24, 2026, 12:14 PM UTC

Suzuran wrote: post #927

America is not rich. A handful of Americans are rich. The rest of us are not, and can never be allowed to become rich because that would not be in the interests of the aforementioned handful.

[dead]

Re: If America's so rich, how'd it get so sad?

#929

Post by api » Fri, Apr 24, 2026, 12:14 PM UTC

SmirkingRevenge wrote: post #768

api wrote: post #749

Earlier quoted context omitted.

I can’t grasp the math. How are young people buying homes? Is the average income now over $100k? Or are they taking out mortgages they can never pay off, meaning they are almost renting not on a path to actually buying or owning and most of their payments are interest. If that’s the case they are renting a leveraged financial position. Previous generations could own homes. As in pay them off.

The interest is fixed in a typical mortgage, so just as long as you reliably pay the mortgage payments, you will own the home eventually when the term is complete. Owners only really get screwed if their home value goes down and they need to sell for some reason. Prices are usually going up (at least on a long enough time frame), so most owners make out pretty well when selling even with little home equity.

Sure, I know that, but even a small down payment on crazy home prices is insane let alone the monthly payment.

I suspect these stats are nationwide. There are places you can still actually buy a home without an exit event. Maybe genZ has wised up and is avoiding high cost of living traps and that’s how.

Re: If America's so rich, how'd it get so sad?

#930

Post by trepaura » Fri, Apr 24, 2026, 12:23 PM UTC

We're rich for reasons that do not remotely correlate with happiness for most Americans. Happiness on a larger scale did exist for about 2 decades during which we had strong labor laws and high taxes for corporations and the wealthy. I also have to specify the ultra wealthy mostly didn't exist in that time frame except for a small handful of people with generational wealth.

Once the corporate tax rates started to drop, deregulation started and employee and consumer protections began being stripped as well. As a result, all that money has been allowed to pulled away by a tiny fraction of ultra wealthy, non-working Americans.

After 4 decades of these circumstances, this has left the majority in a state where they can't afford Healthcare or virtually any kind of emergency without going into life long crippling debt with no hope of escape.

Incidentally, the top correlating factor with divorce is being unable to pay for 1 moderate emergency with savings. If you can, then it's possible to resave that money before the next one most of the time, but if you can't, the interest will eat you alive.