“You are being bequeathed the tools for achieving a material existence that neither my generation or any that preceded it could have even remotely imagined as we began our life’s work.” – Allan Greenspan 1999 commencement speech.

Those graduating seniors are now 34. They have been through two economic collapses. Three, if they were looking. Their house is lowering in value, their healthcare cost is rising as the quality of their care decreases. Their children are in schools with lowering capacity to teach. The daily commute is longer, over worsening roads. Yet by all measures that economists use and provide us, their life is getting better. Isn’t that some consolation? Vindication from the main go-to economist for decades. Hmmm, how goes it Alan?

Maybe the measures are wrong because the principles used are wrong. The toolmakers produced false goals, handshakes, just dust. It is hard to wakeup and throw it all off.

but hey, have a happy commencement day. your future has already passed.