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CoolMe

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FAST6191

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Technically if millennials are from 1981 onwards by many definitions then those from 1981 to maybe 1985 would have been enjoying a bit of such things before 2008, at least before maybe having just got on the housing ladder before it hit and they lost jobs and suffered interest rate bumps.

Indeed some break the millennials up into those that came of age pre financial crisis and post financial crisis.

Now whether that was technically a functioning economy or a lurching zombie might be up for some debate but at that point we either go back to prehistoric times or ponder the definition of functioning (much like physics is never wrong only your model of it then the same might apply to economics).
 
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hippy dave

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Technically if millennials are from 1981 onwards by many definitions then those from 1981 to maybe 1985 would have been enjoying a bit of such things before 2008, at least before maybe having just got on the housing ladder before it hit and they lost jobs and suffered interest rate bumps.

Indeed some break the millennials up into those that came of age pre financial crisis and post financial crisis.

Now whether that was technically a functioning economy or a lurching zombie might be up for some debate but at that point we either go back to prehistoric times or ponder the definition of functioning (much like physics is never wrong only your model of it then the same might apply to economics).
Opinions etc, but I'd argue a functioning economy was when any full time job could pay for a house and a family.
 
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Opinions etc, but I'd argue a functioning economy was when any full time job could pay for a house and a family.
That would be one very short time period, between the 1950s and 1990s.

Before that you had this:

1676298386891.png

*I'm oversimplifying just a tad here, for the sake of brevity.

With few rare exceptions, one single income could never provide for an entire family.
I'm not saying that's how things are supposed to work, it's just the way things were.



Awww, and a dog in your lap. Cute.

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FAST6191

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Opinions etc, but I'd argue a functioning economy was when any full time job could pay for a house and a family.
Ignoring the "OMG my McDonalds job should fund a McMansion" aspect of that which some sometimes float (those are jobs for teenagers, I will take trades and semi skilled on up for this) then give or take for about 5 minutes after world war 2 in the US when it became the factory of the world owing to Europe being rubble (continuing on with a bit of boom in some aspects, aka not the little guy, owing to the rest of the world paying a tithe thanks to petrodollar, and then them giving credit cards to the useless masses, the productivity-compensation curve having 1973 as a clear turning point), and maybe the five minutes between the then modern apprenticeships and before industry left the UK a few decades later, both of which were illusory at best and more likely an actually valid economic use of transient... all seems like nostalgia for an age that never existed.
1930s were not good anywhere, 1920s was an illusion (it led to the crash that caused the 1930s), world war 1 before that which also led to voting rights if you want to go that way, Victorian times were hardly the pinnacle of good living (not to mention your wife and kids were probably in the factory as well to afford the hovel), pre industrial revolution you still all worked on farms (so awful it along with automation caused the rise of cities, US doing a bit of manifest destiny to pad it out) and then we are back to rebelling against a feudal lord because taxes to fund a foreign war were too high every few decades and outright serfdom before then (maybe with the occasional blip following a plague that reduced the workforce such that demand outstripped supply for a decade). Australia had a marginally different timeline but still broadly similar to both of those, Japan stagnated/went for ballooning debt after its little economic miracle, bit of western Germany owing to being propped up in a propaganda effort for the cold war...
 
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