Max Hjelm: For my generation, « interest on interest » was a triggered – now threatens a cold shower
Food messenger and specially ordered porn from Onlyfans in a small apartment, a stone’s throw from the New York Stock Exchange, which he never leaves. Laika, a novel character from Agri Ismaïl’s « Hyper » from 2024, is locked in front of an algorithm -based trading. Every day the same, every day a chance to get rich.
Laika’s life is a screwed up picture of the life of modern young man. But the novel is not without points.
About the young middle class Love something it is to make stock clips. 300,000 people aged 18-25 have account only on Avanza (DN 11/5). One third of these made active changes in their savings at the beginning of Trump’s customs chaos – against experts’ advice. They are a force to be expected, which disrupted markets: the Reddit forum caused the Gamestop share to rush in value and then fall like a pine, « memecoins » can make people for millionaires.
Few in Generation Z manages large sums- the media saving for young people is SEK 13,200 on Avanza- but the majority has some type of fund or equity portfolio.
Some put all their eggs in that basket.
And why would you act differently? The financial market has « always » worked. Yes, even in crises you have expected it to turn up again – « Buy the dip“Has become such an established phenomenon that it seems to save us from bigger crashes. Many people buy when the market goes badly, in the belief that it obviously repairs.
What happens then? We don’t really know. It can be a cold shower for a whole generation.
The last few years have put the security to the test. Pandemic. Inflation. Soaring interest rates. Events that have made it more difficult to move away from home, which made the wallet thinner. But such has only been further reasons to save on the stock exchange – where the money has grown. Just as Laika, many in the stock generation lock in front of screens with promises of « Fire » (Financial Independence, Retire Early).
Hypersnab stock trading, ever greater tensions in the market, an AI race that can be a bubble … Can you continue to win?
Well, the world market has actually proved surprisingly stable despite such sensitivity.
Until now.
Not just have Donald Trumps Customs created conscious uncertainty. He lacks both respect and basic understanding of economics: the more he succeeds in his plans, the greater the risk of a longer decline in business cycle, crisis or crash. What happens then?
We don’t really know. It can be a cold shower for a whole generation.
For our generation, « interest on interest » became a hit song, a matter of course, one was believed. We have never experienced any 90s crisis, and when the financial crisis broke out we were busy dreaming of an iPod touch. So while the real wages have dropped and the uncertainty ravages, those who have a couple of slants will do the only thing they believe in: Log in, transfer and buy themselves from the dip.
Read more:
Max Hjelm: He believes that Russia’s invasion is Europe’s fault – and has a point
Max Hjelm: The new right dreams of a hell of meaningless Carl Larsson imitations
