jasonkuter.com

Interesting article. I know what you mean about “having” to earn more money just to achieve the same standard of living as our parents. I don’t agree with the article blaming the Fed, in fact they’ve done an excellent job at keeping inflation down. Thankfully, the Fed is not run by our politicians, since, as an example, Rep Barney Frank questioned the logic of emphasizing inflation stablility instead of job growth (the law of economics says the two are trade-offs). Printing money is a cause of inflation, usually rampant inflation as seen in several developing world countries. Printing American dollars is the favorite of counterfeiters which may have a small influence on inflation here.
But the real issue is that America is becoming a mature country, with a growing population and a finite amount of space. Where is the wilderness these days that needs to be conquered? (outer space perhaps) Plainly put, it’s getting more crowded. Could you image the prospect of homesteading? Never again.
Sacrifice is always an option, we could live back home in giant houses by now, but the dyanmics of this large urban area is very appealing even if I never “own” anything. I need a beer.

Leave it to the economist to leave a long comment However just because there is an excuse for whats happening it doesn’t mean I have to accept it. Where there is a will to change….and thats our problem as a society, a lack of will. But I digress.