How is it the system's fault if you handle your money wrong? Saving does not mean to let it sit around on your table (or bank), doing nothing. The problem is more that the system is build for smart and educated, those who know how to handle money and life. Bringing everyone on this same side is the crucial part of a fair society, and most societies today seem to fail to some degree with this.
> How is it the system's fault if you handle your money wrong?
For 90% of people that is code for: Put it in the stock market you idiot.
Maybe I’m a rebel, but I don’t think a sane society should all but require investing for people who want to do something as basic as getting a mortgage down payment without exposing themselves to risk.
The stock market has been the solution to most people’s inflation problems, and in my mind, it’s a central point of failure. Central points of failure have Black Swans. A sane society would have inflation low enough that people wouldn’t feel like idiots for saving money and wouldn’t feel the need to rush into a centralized failure method.
> getting a mortgage down payment without exposing themselves to risk.
You can't live life without risk. Your parents try to make your life relatively risk free until you are 18, but then hopefully you've learned enough life lessons to be able to see which risks are worth taking and which ones aren't.
But there's never going to be a risk-free or tradeoff-free way to live through 60+ years of your adult life, including something like getting a mortgage. It's amazing how many Gen Zs and Millenials are struggling with this concept.
> A sane society would have inflation low enough that people wouldn’t feel like idiots for saving money
Another poster pointed out how every other non-gambling path to wealth is slowly being shut down (or to put it positively, optimized away), so the new generations are leaning on things like crypto and online poker and chatGPT startups as their only shot at the middle class. Society have set up our economic structures so they are all based on risk-reward, so it's no surprise that risk and gambling are slowly becoming the only viable path to wealth creation.
An unfortunate but not unforeseeable consequence of the ultra-capitalists' common talking point that people who take "risks" should be rewarded. That has always been the lamest excuse for why people with money deserve more money for doing no work.
It seems not very sane to do it wrong, and then complain that the others are at fault. Money always has risk, be it stock market or just let it sitting on the table, there is no perfect security. Knowing the risks and prices of each method is always relevant. The only fault with society I see, is not teaching their citizen well enough about those risks.
