this post was submitted on 17 Mar 2024
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“There's this wild disconnect between what people are experiencing and what economists are experiencing,” says Nikki Cimino, a recruiter in Denver.

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[–] Semi_Hemi_Demigod 49 points 9 months ago (4 children)

I might be "rich" when my parents die, depending on how much elder care they need.

I'm actually kind of looking forward to the day I look my kids in the eye and say "I'm going out to look for firewood" and just walk out into the snow and die.

But there won't be any snow anymore so I'll just wander off into a slightly chilly night.

[–] TheBat 27 points 9 months ago

slightly chilly night.

You're a glass half full kind of person, aren't you?

[–] [email protected] 8 points 9 months ago (2 children)

What if we just financed all our kids advantages on our own credit for them and then promptly died?

What would happen to the debt?

Say I max out my credit card for their down payment on a house and then go "get firewood".

[–] jaybone 6 points 9 months ago (1 children)

They definitely try to track large cash gifts when putting down a down payment on a house.

[–] Semi_Hemi_Demigod 1 points 9 months ago

So I buy a bunch of gold and leave a map and then bury it in the woods and when I "get firewood."

[–] [email protected] 2 points 9 months ago

Then the credit card companies crank their interest rates higher and restrict the credit they extend to your kids to compensate. It's not "free money."

[–] [email protected] 1 points 9 months ago (1 children)

I'd rather look forward to the improvements in technology that make elder care less expensive.

[–] [email protected] 4 points 9 months ago (1 children)

As if regular people can afford whatever improvements happen

[–] [email protected] 1 points 9 months ago (1 children)

You didn't finish reading the end of the single sentence in my comment.

the improvements in technology that make elder care less expensive.

[–] [email protected] 2 points 9 months ago (1 children)

There is a possibility of that being happening but the last half-century of economic trends makes this unlikely, unfortunately. This decade, especially, makes it likely that the gouging will continue and any advances making care less expensive will just see an increase in profits at the top. Every industry seems to have give into overdrive on driving up profits at the populace's expense, with the exception of basic consumer entertainment electronics but, they are, realistically also driving up effective costs as they are being used to harvest customer data for sale.

If we're getting out of this, we're going to have to do it ourselves because none of the established holders of power have shown the slightest inkling of being interested in stopping it.

[–] [email protected] 1 points 9 months ago (1 children)

The last half-century of economic trends supports my expectations, actually. Treatments have been getting cheaper as technology advances. New treatments tend to be expensive, yes. But then as they become older they too get cheaper.

[–] [email protected] 4 points 9 months ago (1 children)

Insulin was discovered over 100 years ago and it took policy, not improvements in manufacturing, to lower the price (which only happened last year).

In America, they don't get cheaper because it got easier to make.

[–] [email protected] 1 points 9 months ago (1 children)

That's not true. Originally insulin had to be isolated from animal pancreases, a costly procedure. The first handful of humans to be treated with it were literally the children of wealthy politicians, a congressman and the secretary of state. They were the only ones who could get access to it. It's now produced in industrial quantities using recombinant bacteria to synthesize it. It's routine.

I'm speaking about large-scale trends here. Obviously the prices of things have their localized ups and downs when you look at them on the scale of a few years. But I'm not expecting to need elder care for quite a few decades yet.

[–] [email protected] 1 points 9 months ago (1 children)

Here's the first picture I found on Google for the search "insulin prices worldwide"

[–] [email protected] 1 points 9 months ago

Yes, again, I'm talking about large-scale trends, not the current spot prices. I don't live in the United States anyway, most people don't. Note how cheap it is everywhere else?

[–] [email protected] 1 points 9 months ago

You should watch the movie The Road if you haven't already.