A viral video explained how older generations lived the good life without ever thinking about the debt they were leaving behind and how money lost its value compared to the previous decades.
The video surpassed a million views
The viral TikTok video posted by the account, whose handle is PissedMagistus, starts off with an overlay text saying #100k is not the same.” The first person reads a comment saying that a husband was working hard to get a six-figure salary, but it is still not enough for the wife to stay home.
Six figures in the city are enough to get by
A man says that in 2023, a six-figure salary is “enough just to get by,” and then the account owner steps in and declares, “We can’t afford the life that the boomers had because we’re currently paying the bill for the life the boomers had.”
The big revelation
The TikTok star continues by explaining, “The economic growth that they lived through was built by switching to a purely debt-based economy.” The TikTok poster points out that the global debt is over 300 trillion, but “the global money supply is only about 40 trillion.” This means the debt is 7.5 times bigger than the money supply.
Living in debt
The TikTok poster states, “This debt is not designed ever to be paid down,” and adds, “When you borrow money, you’re essentially borrowing against your own future labor.” Or, simply, “You get money now, then you do the work in the future.”
Buying economic growth
“They essentially bought their lives by leveraging our future,” the TikTok poster states. Then adds, “We can’t afford to plan for the future cause we’re stuck paying for the past.” The poster continues, “We can’t afford to have children ’cause we’re currently paying for our own childhood.”
This spoke to people
One person commented this was the “realest thing I’ve heard in a while.” Another chimed in, “I remember some of the economists and politicians making this point 30 years ago to no avail. Greed prevailed over planning for the future.”
Others argued about the money
Someone stated, “Money is made up. You literally can’t be loaned money that doesn’t exist, and yet somehow “we” have 7.5x more debt than money that exists…” Another person agreed, “World debt is so funny to me because, like, who do we owe it to?! The earth itself? Money is a fallacy. We could wipe away debt today if we wanted.”
Some had suggestions
One TikTok poster stated, “Time to flip the card table over and restart the game!” Another was furious, “So they took on more debt by owning investment properties, driving the price up, pricing us out & we get stuck paying their loan coz we can’t get one!”
This TikTok poster shared, “Yeah, I make 95k a year, and I can’t afford a house.” Another confirmed that the original post was right, “well put. Why aren’t more people speaking up about this? Future generations have been robbed before they were born.”
There is no solution in sight
One poster stated, “It is TERRIFYING when you come to this realization. And only barely over 5% of individual U.S. workers even have salaries over 100k.” And yet, there is nothing you can do to change a thing. Watch the video!
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