AnonEMouse
Recycles dryer sheets
- Joined
- Apr 21, 2015
- Messages
- 100
https://foreignpolicy.com/2019/07/0...rge-shibal-biyong-millennial-****-it-expense/
Young South Koreans and to some extent young Americans are making small splurges instead of saving for long term financial goals (retirement, buying a house, etc.) due to despair about their economic prospects. Basically, won't ever be able to afford to buy a house so just get the steak now.
"Shibal biyong didn’t come out of nowhere. It shares a sensibility with phrases like geumsujeo (gold spoon) and hell Joseon (hellish Korea), which became popular several years ago and express the collective despair of a generation of South Koreans who find life in their country intolerable because it seems rigged to benefit people born into wealth (like gold spoon kids) or rich enough to emigrate."
The article argues that given their circumstances, their behavior is actually rational. This is disheartening for future generations.
Young South Koreans and to some extent young Americans are making small splurges instead of saving for long term financial goals (retirement, buying a house, etc.) due to despair about their economic prospects. Basically, won't ever be able to afford to buy a house so just get the steak now.
"Shibal biyong didn’t come out of nowhere. It shares a sensibility with phrases like geumsujeo (gold spoon) and hell Joseon (hellish Korea), which became popular several years ago and express the collective despair of a generation of South Koreans who find life in their country intolerable because it seems rigged to benefit people born into wealth (like gold spoon kids) or rich enough to emigrate."
The article argues that given their circumstances, their behavior is actually rational. This is disheartening for future generations.