The British government confirms its arrival:
Today's middle-class children are on track to be the first in more than a century to be materially less well off in adulthood than their parents, a government commission is expected to warn this week.
Leaked findings reveal the existence of a national trend not experienced since the early 20th century, with children from families with above-average incomes, as well as the most deprived, set to enjoy a worse standard of living when they grow up than their mothers and fathers.
The social mobility and child poverty commission, established by David Cameron, is expected to warn that government initiatives have all too often been aimed at the poorest 10%. Yet the inability to get on in life is a now a major and growing problem for middle-class children and this group is in dire need of attention, it is expected to report.
As noted in my post about the heart of Progressivism, this sort of thing is to be expected when people who have a constant need for change are put in charge. Once they attain wealth and opulence, the only change that can be made is to go back to poverty. Therefore, as I’ve noted before, the best thing to do is to get ready for the coming aristocracy.
To do this, one must change one’s expectations about wealth and freedom. Given the trends, it is best to simply accept the fact that you will not have as much liberty as your parents or grandparents. It’s not likely that you will be totally enslaved, but expecting a high degree of freedom is mostly a pipe dream at this point. You will be controlled to a fairly high degree, but you won’t be micromanaged.
You should also come to terms with being relatively poor. You won’t have as much as your parents, or possibly even your grandparents. But you will still have more than most people throughout history. My advice is to find pleasure in inexpensive standalone things. Tablets are better than home theaters; guitars are better than pianos. Video games are better than board games, though a deck of cards is the best. Don’t get too hung up on owning lake or beach property. Prioritize canoes over speedboats if you want water sports. Simple cars are better than luxury SUVs. So on and so forth. Prioritize things that will provide simple, daily pleasures over things that provide immense but occasional pleasures. Also, invest in quality goods that will last a while instead of cheap things that need replaced constantly. This isn’t the great depression, but frivolous spending is going to be a luxury instead of the norm.
While it’s probably disappointing to know that the best days are behind us, and will be for centuries if not millennia, we can at least take comfort in knowing that the initial decline will still be fairly comfortable and enjoyable. It may not be the peak, but it is still a considerable distance from the nadir.