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Some People Will Accept Downward Mobility
Some won’t, and they’re not going to take it much longer
What do we really need?
Totally off the grid? Pooping in a hole in the ground? Living without air or heat? That’s extreme and most can’t tolerate it.
But what do most humans need to be comfortable — shelter, food, and medicine?
Yes.
Nobody has ever died from a cracked cell phone or because they didn’t have a decent internet connection.
Upward mobility?
We’ve grown accustomed to upward mobility from one generation to the next.
The fact that so many children are not going to live the American dream of their parents, was not inevitable.
Though basic rules of math are pretty clear….the value of material things can only multiply exponentially for so long before they become astronomically unaffordable.
An economic untethering
In 1995, I walked into SunTrust bank asking for a mortgage. Since I was making $65,000 a year, they said I could afford a home 1.5 times my annual salary or about $95,000.
Today (30 years later), I make about $65,000 a year……..except homes don’t cost $95,000 anymore.
