I'm a 27 yo gen z, and I've been applying to jobs endlessly. They don't want entry level people for entry level jobs anymore. You have to have 3 years experience. What they've been doing is laying off people, opening entry level jobs to pay people with more experience for less money, giving those with no experience, no chance.
dont forget how for seemingly no reason because they swear they do not sell your data and the job listing is totally real how every time you throw out a batch of applications you magically get a surge of cold calls and spam calls
DO NOT overextend yourself for any employer. They will not go to your funeral or comfort your loved ones if you drop dead. They will not hesitate to replace you.
I'm a millennial, I understand Gen Z's "lack of work ethic", we saw our parents work their whole adult lives only to end up losing their jobs, home and pensions in 2008. Things never fully recovered after that. Edit: "Lack of work ethic" is obviously a BS take, it's a way companies try and make you feel guilty for not breaking yourself for their bottom line, which nobody's gonna do in an unstable job market that doesn't give the same returns it did 10 or 20 years ago.
That's partly true. As someone living in a country that 2008 almost didn't hit - it's just that millenials & zoomers have more options & just don't want to commit for life. When opportunities abound, the social contract changes - instead of "I give myself to this workplace for life, you cannot fire me", we now have "I'm gonna stick around as long as I don't find something better", and so firing is also a lot more commonplace. Honestly, do you really wanna work corporate 8-5 for 40 years? I bet you like the current flexibility.
The thing is, our parents generation was also called lazy by their elders. I don’t really see it as anything new. And the way millennials were Bashed constantly made me not want to bash Gen-Z the same way we were. I’m not gonna repeat the cycle.
@@notcoleman711 How is that ironic? It's only logical. The workplace has changed, it's the natural evolution of things - it has its bad parts and good ones
That's nothing. My dad had to swim across the river of Niles, wrestle crocodiles, fight off gorillas from snatching his breakfast and hike the peak of Himalayas before finally being able to see his school with a telescope from the moon. We really are a generation of lazy people.
"Technology will even the playing field" - expert > Non profit tech research goes for profit > Search engines ruined, and social media filled with misinformation > Internet Archived sued to oblivion > Buying is now replaced with licensing and subscription > Modern products breaks down faster than retro products
- From median home price of $7,354.00 (1950) to $426,056.00 (2023) is a *5,693%* increase. - From median income of $3,300.00 (1950) to $46,310.00 (2022) is a *1303%* increase. The numbers don't lie. We're getting hammered.
It's probable that the median home size also went up a bit, but I very much doubt it's anywhere near 4-fold even out in the country and probably barely at all in city centres.
For the house over 73 years, that's an overall inflation rate well under 6 percent. Live in a cheaper area. Buy a smaller house. Get a better education. Go into a career that's IN DEMAND. Improvise and adapt. Use your brain. Also, housing is NOT the overall economy. You're cherry picking ONE thing. My laptop costs literally a tenth of a similar level desktop 40 years ago and has literally about a TEN THOUSANDTH or so the power, storage, etc.
@@Steamrick from 1950, average new home size has gone up nearly 3-fold (but new homes won't be the same as the median sq ft in the overall housing stock).
@@rogergeyer9851 housing is literally the biggest cost for the average person lol. Its not really cherry picking when its your biggest cost, and when that cost rises substantially year over year its negatively impacting your ability to spend elsewhere. And unlike your analogy of owning a computer 40 years ago, housing is a necessity and always will be.
@@Steamrickyes .... But now you aren't ALLOWED to build small anymore. Literally a HUGE issue. That's also why tiny homes don't work. You wouldn't be allowed to place them on your land due to zoning laws. Doesn't help either the LAND is actually worth more than the house sitting on it ...... They are called land banks for a reason
Millennial here. I'm not even trying to further my career anymore. I'm making twice minimum wage. Live with folks, whom I'll be renting from when they move out. I tried the grind. 60 hour weeks making 2.5x minimum wage, plus overtime pay. What did I get out of that. Anger. Anger that the work never eased. Anger that with all that hard work, making more money than I ever have before, I still couldn't get far. I started to resent what I did have. All that hard work, and this is all that I get? Screw it. Took an easier job with fewer hours. Use my lack of debt to start socking away for retirement. Abandon all hope of a family or a home of my own. Just enjoy each day as they come. Because sacrificing so much time, isn't gonna make the time you do have off any sweeter. You just gonna look at your past and remember only your job, giving your all to bosses and customers. That's no way to live.
its all in the numbers . if you can sprint for a few years and invest everything while living with Parents in the future your 'nestegg' may earn more than you .
I'm Millennial too and I used to work hard like that too, I stopped as soon as I turned 30. The boomer/gen X employers are not worth working hard for anymore, so yes I do less hours now. I know that I'll never own a home (but I'm aware I'll forever be renting) and family! (Forget it, I have already made up my mind that I don't want kids of my own or a wife). So yep I'm just enjoying my life as is. Period!
@@GhostFaceCillah keep raising it and see what happen. Many states have raised it as have many stores. Guess what happens? Prices increase. We just playing with bigger numbers.
I bought a trailer home and parked it on my business then paid it off in 5 years from 2018 - 2023. It was $919 with insurance every month. No it isn't a 3 story townhome like most gen z will claim they deserve, but people need to be realistic.
Yeah this. I'm a freelance translator and I pulled insane hours (work till midnight, even on weekends and during supposed vacation periods of the year, including an occasion where I pulled a 60-hour week of nonstop translation. I didn't make more money nor it opened up more opportunities to me. In fact with AI stealing my job my income has basically crashed and burned. It's been flat for over a year as of today and last week I gave my resume to the recycling center of my city on the odd chance they need someone to work with them, even just part time. For the record: if I worked your typical office hours I should be earning 3k euros a month after tax. I should be living extremely comfortably and instead I'm sinking. "Work harder" is just straight bullshit, regardless if of whether you're underqualified, qualified or overqualified and regardless of from where you're from.
I truly would love to quit working and support myself by living off the land, fixing everything, and enjoying nature. I hate giving my time to the rich. Only issue... I can't afford the land... so I'm forced to continue to give my time to the man.
That work harder epithet has been spouted since serfdom when the aristocracy tried to make you believe tryouts were doing yourself a favour by working hard for nothing.
@@primodragoneitaliano, try to apply this to hotels. A second language is needed as the majority of people get frustrated when nobody understands them. I'm assuming you speak English and Italian, so places where there is a high visitor rate of English/Italian will be a good fit. Also, if you are not married with children then be willing to move anywhere internationally. Just being willing to move out of your city will put you higher than 50% of applicants, and out of the country will put you over 90%.
It unironically is for vancouver. Its welll known that it isnt corporations or even the Chinese that caused our housing crisis here. What really happened, was old people wanted someone to pay for their retirement. So they would lobby the living shit out of the government to neuter the housing supply. its well known that whenever theres high density housing proposed, theres legions of old people in community review and other mechanism that solely oppose it. Purely because it would lower the value of their house.
It's true, you can fly from Calgary or Toronto to Vancouver for like $100, a Vancouver rental is $2500-3500 a month. If you have classes on 3-4 days a week it's just cheaper.
Years ago a guy in the UK crunched the numbers and found commuting from Spain by plane was cheaper than living within a commutable distance to his job in London.
Companies no longer offering pensions was probably one of the catalyst for the negative attitude many seem to have towards employers. Started with millennials and just got worse from there. Why bother investing your time and future in a company who doesn't do the same for you. Instead you can just get laid off at any moment.
We are all poor because all the money is not circulating anymore, it sits with just a handful of unimaginably rich people. We play ONE single monopoly game where the money never goes back into the box for a new game.
“The 08 crisis hit [millennials] hard when it came to buying a house” As a young Millennial I should have been trying to buy a house in 2009 instead of being 14 and a high school freshman.
My uncle, who is over 70 now, saw an ad in a newspaper around 53 years ago that a car manufacturer in his area is searching for people in IT (not what it is today) so he gave him a call without any CV, they hired him on the phone. And one of his last questions was “ but now you have to tell me what IT actually is…” He worked at that company his whole life. Compare this to the 300 applications one has to send out with a perfect CV just to get a no as answer, today.
Thats the upside of having actual FACTORIES in your country, instead of sending it all to China. You actually have access to most of the engineering, IT, and business jobs that we dont have today, but your uncle had access to back then. Everything they said would happen under automation, has instead happened under outsourcing. Human life in india/china is cheaper than a chatgpt subscription. Outsourcing only benefits the ultra wealthy and well connected bourgoisie. You dont even get the price advantage of cheaper goods. What America's dealing with, is the overpopulation problem of other countries. You should be gleefull that politicians like Bernie Sanders and Trump have influence. Because without China tariffs, there would be no recovery. We need to build back our factories and bring back jobs. Thats the only way you can tax the ultra wealthy. Keep in mind the only reason we had the enlightenment and got out of feudalism, was because the peasant population was low due to war, and feudal lords had to compete over peasants, who in turn got power within society. Were slowly reverting back to feudalism because of India/China's overpopulation
Yeah we go be a nurse , a firefighter , something useful. Not everyone gets to sit by the desk on his PC and do nothing and get 10 000-15 000 a month . Thats why all those are taken . And hospitals are looking for people all the time .
Growth in the economy raises people, especially at the bottom, out of poverty. You know how many people were in extreme poverty in the world 60 years ago? Like 8x how many are now. The world has gotten much richer with less suffering, and not just the rich people. Sorry, I'd rather have a 9-5 than watch my children starve in some village mud hut. That's why we have globalization.
Having grown up in a "poor country", I think what young people are experiencing in "first world countries" now is basically their country turning into a "poor country". Because in poor countries there are still extremely wealthy people that own everything, but the working class are exploited, have a poor quality of life because they can't afford basic things, and have access to crappy public infrastructure. People who grew up in "first world countries" are shocked that this is what their lives have become, because they don't have previous exposure to living in a "poor country". I'm not saying that anyone deserves to have a poor quality of life. But I think it shows that those who had the privilege to live in prosperous countries during prosperous times were simply lucky. It's not because they "work harder" or "deserve" these opportunities. Hard work can only take you so far if you have no access to better prospects due to what you're born into.
Yes, I think this is really what it is. Many of the western countries simply "had it too good" for too long post-WW2 and took advantage of less developed countries. In a way America (etc.) had an inflated average standard of living. The pendulum had swung too far and now it's re-calibrating.
@@Jets228 bullshit. It was not inflated. We simply stopped distributing the yields of technological progress to everyone, and allowed it to concentrate in billionnaire circles
yeah renting a 3x4 room for a quarter of minimum wage is basically normal in my country, you only get a bed and a wardrobe, bathroom is shared with others
@@dennikstandard It was the best standard of living of any time in human history. It was an outlier. But, each of us experience life as it comes and how we grow up generally becomes a baseline. Most westerners haven't considered other countries or travelled to other countries to see how really great they've got it. For the vast majority of people, it simply comes down to the luck of being born in a certain geographical area and has nothing to do with personal value or merit. This is becoming a harsh reality for many, yet most are still living with a "better" quality of life than nearly every other human consciousness in the history of our species.
Agreed. It's a different kind of fucked reality when your family escaped the third world country in the hopes for a better life. We're now fucked here too. No where's safe. I'd like to add: the divide between the ultra rich and poor is just getting wider. Worldwide. The people that blame immigrants are wrong as well. You have to think how things have been going down hill since 2008. I'm starting to think it really is just capitalism. Private equities and elites who only have their own interest.
I honestly went from dreading living with my parents, to valuing the opportunity of spending quality time with them while they still exist, to that and also being grateful I don't have to struggle to sustain basic existence in a constant state of insecurity.
I hope my son feels the same way you do. We already let him know he doesn't *have* to move out at 18. It's hella expensive out there and some roommates cannot be trusted.
It’s a shame that there’s a stigma against living with your parents in the west. In many cultures it’s completely normal, especially if your single, or have young children or as your parent get older. Maybe other cultures have got it right, living in a more communal way, sharing resources and home duties. Rather than grinding through with dogged individualism, paying for a home your barely in.
Exactly I think the attitudes we have about this causes more issues. We shame and pressure those that do creating animosity. With how anti social people are becoming. Learning to live and enjoy time with people around you is important and valuable.
I am 50 (gen X) and bought a home in my early 20s when I delivered pizza for a living. I still live in it today. Honestly, even with a college degree and a much better job I would be homeless if I had to start over. Housing is just too expensive because of the REITs and Airbnb's buying up and holding all the housing stock. In 2008, REITs bought 2 percent of the housing in my area every year. Now? They buy 25 percent annually. How can an average person compete with Wall Street? They can't.
O rly? 🙄 I call bs. How much was your home and what was your monthly income? Did you make money from the tech bubble? Did you have inheritance? What was your mortgage interest rate? What was your down payment?? How long did it take to save that amount? How remote is your property? If people didn't want to buy a house in NYC or LA they could get cheap housing.
I know it's not your fault... but "I am 50 (gen X) and bought a home in my early 20s when I delivered pizza for a living." made me rage so fucking bad.
@@LuigiMordelAlaume why is that BS? I bought a home in 2006 for $110k and my monthly payment was $710. While I didn't deliver pizza, that payment is certainly feasible for someone who delivered pizza full time.
@@echoct506 If you think that is standard, it was not. I'm 49, never bought a house when I was young cause I was moving around for video game development work. I probably earned a lot more, but had no idea I could have just stayed at home, taken a simpler job and earned way more from just buying a house. The last ten years with no or negative interest rate killed a lot of hope.
It’s a special kind of torture to be called lazy by people far wealthier than you when you physically cannot work enough hours in a day to afford a life.
Call them lazy for not having a solution to your problem beyond the LAZY ASSUMPTION that we need to work harder. Let's see them work hard to write up a set of proven instructions to fix our situation. They will fail.
Work smarter? You have Ai. You can learn anything. I'd go healthcare.. from the bottom to the top.. HHA, CNA, LPN, RN, MSN... study, pass, license, work. but that was my way.. I researched Job Placement first. Then worked, studied... don't graduate for a paper graduate for a LICENSE. a degree with no license is garbage. Then build passive income.. Not easy.. but you need a plan You can be the best Pilot in the world.. but if you don't know where to go... F Torture make me get out of bed. You have to love pressure, diamonds are made that way, so they say..
@@mindful_clip”you have to love pressure” is a symptomatic reaction to a broken system, and that must be a special kind of torture in itself, to live believing that.
@@donkeykong1501 i hope it gets better for you guys than it has for the "elder" gen z, it breaks my heart. my sister is 15 (im 27) and i feel so afraid for her, this has been my life since 18 and its only getting worse as i get older, i hope you younger gen z will have it better before you guys enter the "real world". we all deserve a future where we work and actually feel rewarded for it, this isnt it right now :(
@@disasterallosaurus The housing crisis that has been going on for the last decade or so is the EVERYTHING CRISIS. Housing is the biggest part of happiness you can afford. Now you can't afford it. In many countries not even just western countries the housing market is under systematic attack by international housing investor cartels. Environmental regulation isn't helping either since houses in the west need to be build to a such a standard that you need a a few experts to even be allowed to plan one. This is not good because it leads more and more people to just rent.
Anyone else notice these comments popping up on videos similar to this? So whack bots are commenting stuff like this. What whack job created such a bot too 🤣
@@aaronalquiza9680 the two above me! I’ve seen these two comments multiple times now. It’s always one stating the first thing and then a second comes and says the exact thing the second dude says. Just such a weird statement to promote
The idea that a single man in the 50s-70s could afford to buy a house with two yards and a pool, buy two cars, save for multiple college funds, afford multiple vacations a year, and support a family with multiple kids all from the salary of an entry level factory job that only required a high school diploma doesn't even feel real to me. Like I know in my brain that this really did happen, but like my heart tells me that it is so far removed from reality today that is could not have been true.
100% correct, we live in a smaller house/appartment, only have one car, a $180 smartphone, none or one vacation a year but most of all, we had no INFLUENCERS and tiktok influencing the weak minded (the force) to do STUPID things 😎
Exactly. Even in the early 80s my oldest brother was able to support his stay at home wife and daughter in a fairly spacious one bedroom apartment. And he was able to do this on a grocery store manager's salary.
It wasn't quite that good. It was usually a small house with no garage, never any jet travel, you can forget about A/C. The big thing was tuition was very nearly free at state universities. You can thank Reagan for ruining that. That doesn't mean everything is fine now, just that this rosy look at the past isn't quite accurate. We did without a lot we take for granted now, and I doubt there is an appetite for the level of austerity that existed during that time in 2024.
The reason the 50s-70s were easy for Americans was because the rest of the world was destroyed by WW2. America didn’t have economic competition and could pay workers very good wages for factory jobs.
This isn’t just gen z. Millennials and even older generations are suffering as well. The reality is the majority of the population is trapped in a cycle of debt and wage slavery
The REAL problem? Watch Scott Galloway. $50 TRILLION has transferred hands from the bottom 90% to the top 10% since 1975. It's purposeful and deliberate. All the money is hiding overseas, earning interest, waiting for a government tax holiday to re-patriot all of their overseas profits.
I struggle so much with this mentally. I did everything right in life. I was best in my school, set long-term goals and worked my ass off, sacrifizing my youth and practically my whole 20's. And burned out in my PhD working for a boomer professor that was manipulative, mean and put others down to feel worthy of his own salary and career success. Now I feel dissillusioned and it is SO hard not to just give up. I could land a soulless job at a factory and survive. With that money I could even afford eating out sometimes and see my friends occasionally. But at what point will it be worth it? Work is so draining, and 30 fucking years of effort did not pay off. I feel like my generation is waiting for the boomers to die off. In the mean time, the world suffers.
I was in that advisory position too once. Until I realised that each new generation should seek of its own truth (regarding this matter) that needs to reflect its own era. Best with finding out what your truly unique capabilities are and cultivating them further with love and with hope that all will work out just fine.
Get bent over and have a mountain of debt from college that their parents didn't when telling them to go get a degree. I don't think any avg. american parent saw this coming in the late 80's and early 90's.
THIS! This is what pisses me off so fucking much. I just turned 23 and I got a fucking bachelors AND a masters degree in psychology. I went to work in a clinic and I’m working with clients all day long and loving it except the pay is just not enough. Im barely making it. Account always empty. Literally the pay is good but the world is too fucking expensive.
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
How do I get involved in this? I am excited to take part because I genuinely want to build a stable financial future. Who is the main inspiration behind your accomplishments?
Using the term "quiet quitting" for working according to your contract is fucking hilarious and is incredibly anti-worker. It's not quitting if I'm fulfilling my contract, I just don't want to put in effort I'm not rewarded for.
Put in the extra effort, you don't see the benefit right away, but it does come. You may need to switch companies, but the benefit from working harder than your coworkers always comes eventually.
One year you will learn that putting in “extra”, enthusiasm, showing initiative, solving problems, mentoring others… will get you promotions or other benefits… without even clawing your way up. Good will, perks, future prospects. People looking out for YOUR interests because YOU are a pleasure to work with. Your attitude still seems to be “quiet quitting” mode, union mentality: “I’m not paid to think”. It’s rather easy to stand out against coworkers who have that attitude if you apply yourself.
@@MegaLokopo And this is exactly what we're always told. And surprisingly, no one cares about the "benefit" that apparently is supposed to come. We have no faith that this benefit indeed comes, and instead of wasting our time on building up an uncertainty, we do the bare minimum required in our contract and use the rest of our time and energy to enjoy the life we have outside of work. Nobody pays me passion, otherwise my salary would be higher and I wouldn't have to struggle.
I’m a carpenter, I put in the amount of work I’m being paid to do, I work from 8 to 5 when 5pm strikes I don’t care what they’re doing I’m going home anything after 5 pm is extra unpaid work
@MegaLokopo not these days. Most SME businesses are just looking for someone to take the job and constantly be on the job even when you've clocked out. There's so much micromanagement in workplaces, it's hard for anyone (of any age) to get a life, commit to family, have holidays...etc. A lot of this 'commitment' to work goes unseen because business owners are tight on money and spending too much time budgeting and looking at costs than the welfare of their staff. I noticed all this happening almost suddenly during the COVID pandemic, and it's never stopped since then. I've seen people work for over 5 years without promotion, so they gave up and do the bare minimum that their employer pays them. 'You pay me minimum wage, I'll give minimum effort' kind of thinking. 😢
As a younger millennial (born 1995) I can confirm that these issues are affecting us as well. We got the poor economic tailwinds of millennials with the poor economic headwinds of Gen Z.
As a Gen Xer, I’ve got to admit that housing has definitely gotten a lot more expensive since the '90s. But while some politicians love to use this issue to rile people up, the reality is actually worse than what they’re saying. The tech boom in the late '90s and early 2000s played a big role here-tech companies started handing out massive salaries and stock options to young workers who hadn’t learned much about managing their money yet. They’d pay sky-high prices just to be near the action (parties, friends, and all the social hotspots), which drove up housing costs way faster than inflation. While younger people today feel the pinch and can blame both the economy and some political messaging, it’s worth noting that wages are at historic highs, especially with the big jumps over the last six years. But I’ve also noticed that younger people tend to spend on a lot of conveniences: DoorDash, Uber Eats, Instacart, Uber and Lyft rides, and subscriptions to all the streaming platforms-Netflix, Disney+, Hulu, and more. People spend without thinking about how it adds up, then get frustrated by prices on basics like gas and groceries. It’s no wonder budgets feel tight when convenience costs keep piling up! I won't even touch on the folks buying $70,000 cars with a 12% APR and repayment terms longer than 5 yrs.
Same here. I just finished my PhD in a highly demanding STEM field as a younger millennial. Making nearly $100k a year in a medium cost of living area in the US. I still cannot afford a house.
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I've grown to hate the word "entrepreneur". It's absurd. Everyone is going to open their own business, really? And sell to whom? If everyone creates a business the competition is sky high. You won't buy what you're selling. the whole circular economy makes no sense in a world of "entrepreneurs". Most have to be workers, blue collar is the basis. Someone has to produce so others can sell and others can buy.
Same as everyone trying to be an "influencer" (God I hate that word). People have been sold lies, and social media has and is reinforcing and amplifying those lies on a daily basis. Young people live in a social media echo chamber and they need to break out of it. It's not real!!
@@smaugthemagnificent a lot of the younger generation want to be TH-camrs these days. They see successful channels and all want a piece of it instead of getting a real job. I think parents actively encourage them to be social media “stars” when they see how much money some are making from it. It’s unrealistic though. If a channel is not on your TH-cam feed when you open the app, it means they are not visible unless searched for. Less than 5% of channels get over 95% of the views. Work that one out yet they still think they can get millions from adsense. Work ethic has gone when you get 22 year olds basically just travelling and doing food reviews etc, or other self indulgent crap that benefits nobody really.
I'm a handyman. So, I'm supposed to take my skills and go to an contactor and get paid crap, or make double that working for my self and charging people reasonably affordable rates???
To other entrepreneurs. Theoretically, everyone could be a contractor. There are plenty of businesses making millions with 0 employees. It's stupid but feasible for a while. Like capitalism. Like a crappy SF movie.
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To other companies? actually companies selling stuff to other companies are the welthiest out there, companies are made of people at the end of the day, if everyone was a boss, you could outsource to the rest of the world, thats what globalism is for, and with the introduction of robots and AI, they would be the ones making the money for us.
A below average apartment in the Netherlands is now between 300 and 400K. I flat out refuse to take on such a ridiculous amount of debt. So I remain living with my mom, help her out and enjoy life without having any debt at all. And if that means no family of my own then so be it, I do not want to be in up to my neck in debt just for an illusion of living on my own and playing house.
i dont understand the stigma of living with your family; it's so natural. I really dislike the weird hate it gets, plus your parents will be grateful for the help! win-win
Same, its not just that its hard to attain its knowing your permanently in debt when the house market becomes normal again and selling the house couldn't pay back the mortgage. Renting is tragic to, I used to qualify for a parking spot. I will say the situation has improved for me now, I now qualify for a garage box.
Imagine how lonely your mom would be without you.And without that development in her brain that pushes her past adolescence and earlier adulthood, the pain that causes rewiring of the brain to be an adult.But you're missing out on this.Because you are a slave.We are all slaves but they're causing you to miss out on brain development and the opportunity that your mother had to have offspring
"Lack of work ethic" I'm employed full time in a trade and I get paid only 25 cents more than minimum wage, and it took me a year to land my job. I went to trades school, I completed an internship, but no one was willing to hire me because I didn't have real job experience. I was applying every single day and only got hired through a referral. I'm 19. It's not laziness, the times have changed.
The primary problem is greed at the very top. Massively wealthy corporations and companies try to squeeze every last bit of profit out of consumers. Even when the economy is growing, almost all the benefits go to the 1%.
@@DavidEVogel Capitalism tempered by decent and reasonable regulation. We do not have that now. Duh, this is not hard to realize. The problem is, those with the money get to make the laws, effectively.
@DavidEVogel I think a sizable amount of Trunp voters actually just went like fuck if I know, He looks like a trouble maker, I'll vote for him! And I kinda get that lol. We gotta find out somehow right?
@@minimumapature3361 True. Trump is a change agent, a disrupter. Although President for 4 years, he is not a politician. One of a handful of Presidents who do not have a law degree. Voters said "The last 4 years have been terrible. I want something different" And the only other choice was Trump.
Millennial here, I worked my whole adult life and still can't afford to buy a home, and I'm 41 with a university degree. Housing and living costs are such a great problem, if something doesn't get done, the country will collapse either due to population decline and financial collapse or civil war. People tend to rebel when they have nothing to lose. We reached that level
I’m Millennial, too. I’m 29 years old, studied medicine and I’m working a lot with 70-80hours/week. I have years left to pay off my debt for the house. I invested in agricultural immobiles. Friends of mine studies non-technical stuff are doing worse, while friends who studied IT, became Ingenieur or medicine are doing better. Making the right choices is sometimes hard.
Sadly if there was a civil war, billionaires control the media, and people will fight each other for all the wrong reasons and completely miss out on the common reason everyone struggles.
@@sebastianr1204 so you studied a lot and you now have to work a lot? Sir, that´s not a win, that´s LOSS. Until you´ll manage to pay off your debt, your health will be in such decline, you won´t be able to enjoy the rest of your life at all. And your house will be in such declining state, it will be time to take another debt to renovate it. Making the right choices is not about money. Being able to sustain yourself while being able to enjoy actually LIVING your life, that´s the right choice for me. Even if it means being poor and sometimes tight on money.
I’m a 66-year-old baby boomer. When I started university, there was nearly a 100% student-to-job ratio. Four years later, that had dropped to about 15-20%. I put my art degree on the shelf and turned to painting and decorating until things improved. In 1979, I sold my soul and took my first job for £2,500 a year and lived in a garage. Here’s the thing: it wasn’t all smooth sailing back then, but just three years later, I was able to secure a 16% interest mortgage and buy my first house. Fast forward to today, and my two sons, both in their 30s, have little to no chance of owning a home-through no fault of their own. Their honours degrees are worth little in a shrinking job market. I’m the first to admit that my generation had its struggles, but I’m also the first to call out others from my age group who claim that the younger generation just needs to work harder, or stop drinking lattes and eating avocado toast. I’m quick to point out how smug and wrong they are. If a latte or avo on toast brings a bit of joy to their day, good for them-they have precious little else to spend their money on. For my sons, their best shot at homeownership may be us dying, and even then, it will be a struggle. All four of us feel helpless, but only two of us have homes to call our own.
I appreciate you. I've talked to and heard from a lot of boomers in my life. From school, to family, and friends' families. Often times, they just don't understand the changing times, they just know from their own struggles and experiences. Each generation experiences a different set of challenges and circumstances, so what worked back then doesn't necessarily work the same way nowadays.
I’m 27 now. I remember being 16 and if I didn’t like a job or felt like I was being treated unfairly, I’d quit and within like 2 weeks would be employed again. Now, god forbid you lose your job because you’ll be out of work for months on end.
So sorry to hear that. Praying for a speedy turn around for you and that you end up with something even better. Keep your head up. This too shall pass.
Why is Gen Z so Poor? 1) Minimum wage never rose while prices of necessities continue to balloon 2) Companies who are hiring for entry level requirements now looks for employees with experience 3) Companies who do hire new graduates only pay salary that is either within or below minimum wage 4) A majority of companies are now all situated only within urban hubs to save cost due to the effect of pandemic There are many more factors but these are what I could mention at the top of my head
I’m a millennial managing a team composed almost entirely of Gen Z kids (we literally just added 2 millennials a few weeks ago, the first “older” workers we’ve had since the team’s founding). I will say without a single doubt that my team of Gen Z kids will out-work, out-think, and out-produce any other worker within the company. We are almost without a doubt the most productive team. In fact, they are so hard working I have to step in often and remind them to take lunch and go home and have a life. They’re not that difficult to manage and motivate. Just treat them like real human beings with real human concerns, and give them meaningful work. Be real with them - they’re not dumb, and they won’t take kindly to corporate bullshit. Funny thing is, we did hire Gen Z workers for other teams too, and they all inevitably failed. It’s not the generation. It’s out of touch managers who have no ability to be authentic with their team.
Younger millennial here. There’s a lot of truth in this. Corporate leadership sugar coats shit so much. Just tell me like it is man. Our entire adult lives, the corporate news media and government has been spewing lies to us 24/7. It blows my mind that they think we believe their BS.
I'm one of the older Gen Z people. I'm 27 and I've been working since I was 16 as a refrigeration technician apprentice for 4 years and a full technician for 7 years. I was one of the few who had good opportunities in life namely my dad working in the field of refrigeration. I originally studied for diesel tech, plumbing, electrical and refrigeration all at once on my off time. Now this was in part possible due to my dad paying for 2 of my courses and these courses having some subjects in common. But the point to my story is that I now work as a safety officer at my family's brick factory as well as being a general maintenance technician my monthly salary is around 1400 USD and that is one of the higher wage classes in my region of South Africa. The lowest possible rent on a small 1 bedroom apartment here is 500 USD per month. I can understand why most Gen Z people are poor cause the minimum wage won't even cover a single month's rent
“It’s that damn iPhone and $7 Starbucks every day” -A dad who bought a mansion for $200k in 1990 on a $65k salary with a stay at home wife and 3 kids who ran past a mountain of Cracker Barrel level breakfast every morning on the way to the bus
I’m older Gen Z, it’s insane how many people I personally know in my generation that struggle to pay bills and rent but have $300 a month phone bills and spend $500 a month eating out.
@@kilroywashere9678Bingo. It's not what's coming in that's so important.. it's what's going out that is.. 'Live within your means'.. not 'Live the life you'd like to have because you see everyone else doing it on social media...'
The biggest issue I see is kids being told to go to college and then they'll get a good job they get out of college and then everyone tells them they need 5 years of experience. I don't think that's right feels like a massive bait and switch to me. If you spend $50 to $100,000 in 4 years of hard work to get a degree that should at least ensure you get an entry-level job without any extra actual work experience. Before you would get training certified college degree and then you would get hands-on training on your first job you would start making less money but they would teach you the ins and outs and all the little details that you can only learn by actually doing it.
That is the thing I am going through. I don't even have a degree. I am being turned away from jobs that hire teenagers and the sort because I have no job experience
Not only that but the entry level jobs are BS in terms of the salary they offer. You can graduate with a PhD. in a hard science subject and they offer you a $25k a year job, basically not above the pay you would have got not bothering to go to college.
Most of those being pushed towards college end up in normal, low paying jobs. They would have been better off going to trade school and would've ended up financially richer too.
Every challenge that was thrown at the Millennial generation was amplified for Gen Z. I'm a Millennial and everything that hit us as a challenge was in a sort of transformative state. The old routes to success were getting closed off but weren't fully locked down. The property market wasn't the hellscape it is now. The rental market was just starting to become a new form of serfdom, and working hard was still, somewhat, a way to get out of poverty. No more. Boomers and the prior generations tore down every social support structure that existed and then snorted the dust of the ruins to get the greatest economic high ever achieved, and then had the gall to look at their kids, who they set up to fail, and their grandkids, who they don't want to watch or support either, and ask, with a straight face, "Why aren't you succeeding like I was?" College degrees have been both turned into a new age form of financial slavery, with many people taking out ruinous loans in order to get boutique skills, and also been so normalized that the prestige of the achievement has been turned into an expectation rather then an exception. Housing went from just a place to live to an asset to accumulate wealth. With Mortgage Backed Securities becoming the preferred playthings of hyper-rich elites and then when their reckless gambling destroyed the economy none of them suffered for their choices. Rentals went from a place where you could live for cheap, so you could save money and build towards a house, to becoming another financial asset, because everyone that couldn't afford a home before 08, but was given a loan anyways, still had to find a place to live. High School Public education went from something where you could be assured of at least getting something decent to being a joke as federal and state funding has been relentlessly attacked by the hyper-rich and private schools. Medical care has both had the most incredible advancements in technology and capability, while also becoming something that is one of, if not THE, reason why people declare bankruptcy. Every challenge that some Millennials managed to dodge, dip, duck, dive, or dodge, had all avenues closed off to Gen Z. Is it really any surprise why they don't want to partake in this sham, or, even more understandably, want to burn it all down?
Not with that mind set. I get the empathy but there is lots of ways to become financially free. So many instructional videos on TH-cam. All it takes is discipline and action. Todays the day go do it. Come on. Max 401k max Roth IRA open a living trust. Transfer your investments. Work to make money so the money works for you buy a house to rent out. It’s hard but compared to what.
I’m an older millennial, a professor teaching psychology classes. All of my students are currently Gen Z’s. I am impressed with their writing skills and their willingness to succeed. That’s right. We have to help them however we can and as a professor, that’s what I do currently and this generation inspires me to do so.
While commuting and a 9-5 grind was/is awful, I feel like a lot of workers in past generations accepted it because you were fairly* compensated for it. With minimal effort (saving reasonably) you could expect to one day afford a home, start a family, invest in leisure and passions in your free time; have an acceptable work-life balance essentially. It was a "work hard, play hard" model, vs. today where it's just "work hard, live hard" marching towards what feels like "work hard, die hard".
Too many are "okay" with living on Assistance instead of working. Or they give up when they see the priority system for subsidized housing rewards single mothers with high priority to get services first. It's part of the problem with some groups of people having lots of single mothers in order to obtain their own free apartments with subbed utilities.
@@animejanai4657Lol ok dude, I know who you're trying to picture but there are 1000x more Billy Bobs in a trailer than them boosting those numbers. The original comment is correct, hell I've been out of work since March because of chronic pain (thankfully may be returning soon since I can finally get pain meds) and I don't qualify for the unemployment numbers either! There aren't enough regular jobs that pay well enough to survive.
my great grandmother was born 1905 died 2003, she was born a bit past the lost generation, but she did grow up seeing them and living with them. She used to tell me about how hard times were and how times now are harder but in different ways. Like for example sure you were literally dirt poor with nothing but the clothes on your back, but most people were still transitioning from farm fields to cities. they had the option to return to the old farmstead to farm for food and live. the had tighter community outreach for churches and what not. in her last few years she told me who was 10 years old that she was saddened by the lack of support and bonds people didnt have anymore. she worried that in a few years time we would see the beginning of another lost generation but this time they would not have farms to run back to nor will they have community support.
She was a wise woman. This generation grew up during WWI and lived through WWI and build up the world again. Compare this to the boomers - they faced no real problems in life despite them telling you otherwise. But boomers will face problems when they get older, no one will be there for them and they won't get the medical support elderly people need, simply because there are too many of them - at least this will be the problem in my country (Germany).
Lack of community support is the scariest part of all of this to me. It’s bad enough to not afford necessities, it’s worse when you can’t get any support from friends or neighbors because you’re a “stranger”.
The pain of getting a degree going into astronomical debt and being rejected hundreds of time from roles that you know you could excel at is causing everyone in the newer generations to give up in some ways.
The fact that I was talking about this with my mom, about how ill never be able to buy a house and her answer was "well your dad and I are gonna die someday" 💀
im a late gen z born in 2008 this is pretty bad and prices are going up every year inflation is bad deflation is really bad too yet people still pressure us to have a family we are literally killing to feed ourselves nah I don't want a kid I gotta get by myself first I need enough my money to support myself first its bad worldwide the future who knows it my be worse
I'm a Gen X dadand it's very obvious to me. One of my kids is flourishing, and the other is struggling hard. The first one studied a subject good for them and has worked well for them The other one has finished college and has struggled since graduation. Both still live at home.
My parents and older boomer siblings always lectured me about that in the 80s and 90s when I worked minimum wage jobs that barely covered bills and food. You can't save if you have nothing left over!
I am millennial in Croatia. Inflation is killing our budget.Higher salaries cant match inflation. Buying home is out of reach if you want to buy it with your own money.
Brat moj, pogledaj si Slovenijo, use kaj smo imali so nam uništili, imali smo nakboljši standard v celi YU, več 30 let v celem svetu najboljo gospodarsko rast a sad, pri 26 god nemam ni za hleb, i socialna pomoč samo za migrante ja bi mogao izgubit sve da bi mi dali pomoč, dalje svi mladi odlaze vanzemlje, žalostno več u hrv je bolje stanje nego tu kod nas, da o tome da ima sad puno srba koji okupirajo ljubljano i so u večini krivi zato što se dogaja ne govorim..
My dental hygienist gets up at 4:30am to get to school (it's not even paid work), and sometimes doesn't get to go home til 8pm. She doesn't seem lazy to me.
Well I wake up at 2 am so you're a lazy bum! I work 19 hour days at 3 jobs 7 days a week cuz I'm on the GRIIIIND!!! I almost have enough to put a down payment on this trailer so I'll be able to move out of my friend's car @@archmage_of_the_aether
I'm Gen-X and wanted to comment on layoffs. I've been through 5 since 2017, with the last one coming out of the blue (actually all but one was fully unexpected). Even at my last job where I thought I was valued and the CEO cared (he does, but financials dictated some tough decisions), I was still let go unceremoniously. The "doing the bare minimum" is the right approach. Loyalty has left the chat.
Loyalty left corporations in the 80's, both to employees, society and nation. The only thing that matters is the bottom line and numbers, increasingly judged by faceless financial overlords located in a tax haven in nowhere land.
I wonder if this is a Gen-X thing. I started my actual career path in 2004 and have always done the bare minimum. The crazy thing is that I am actually still productive. I just don't stress out about things like I see those younger or those older than me.
Economic uncertainty can be daunting, but downturns often present opportunities. As a value investor, I’m focusing on strong fundamentals and companies with long-term growth potential. Stocks like NVIDIA in AI and undervalued dividend-paying companies feel like safer bets amidst rising rates. Patience is key.
I agree. Even with great opportunities, we should proceed cautiously. Seeking market analysis or advice from certified market strategists is important.
Absolutely, having a solid plan is crucial. My portfolio has doubled since early last year. My financial advisor and I are working towards a seven-figure goal, though it might take until Q3 2024.
UK millennial here. Had to live in a crappy old camper van for a few years just to be able to save up the deposit on a 2b home in one of the cheapest parts of the country; this is not sustainable.
Some friends, especially those with foreign partners are looking overseas for home ownership. Soon only the rich will live here, I do wonder who will be serving them.
This is very curious to me, because Gen Z are feeling like Gen X or Millennials felt in third world countries. I'm millennial, from Colombia, and was always so worried, with so much anxiety not knowing if I was going to be able to find a slightly decent job after university, and my friends were struggling with the same situation. We are now 40 and many of us don't have kids or own a house. This shows me countries like US or Canada, are just turning their population into mid-class people from third world countries.
100%, i read somewhere a long time ago that America is a third world country with a Gucci belt on. and i have never been able to get that out of my head because it's true. living in poverty, can't get a job, can't hardly feed myself... america is just as fucked up and corrupt as the countries they try to project it on.
I think Gen Z is paving the way towards forcing correction in this messed up market We look at houses and say “nah that’s stupid” and look towards tiny homes We look at traditional wage growth and say “nah that’s stupid” and learned to job hop and put pressure on companies instead We look at College tuition prices and say “nah that’s stupid” and learned that trade skill jobs are extremely viable In glad to be apart of a generation that would rather find our own solutions than just put up with the bull shit that the world presented us
@daisy9181 a rundown house now is the cost of an expensive house even 5 years ago One of my coworkers (30yr old) put it best, "it's not that I don't make good money, it's just that everything around me has gotten way more expensive"
dude did you see theone aout Austraia? i live in a suburb almost rurual area 2 hours from sydney Housesaround he start at about $750,000 Any old or rundown house is outbid and knocked down by developers @daisy9181
@ nah hell no bro, as someone who makes decent money in a low cost of living state in Oklahoma…houses that are cheap enough to fit my budget are complete trash and in bad areas. Not to mention that the down payment and costs of closing costs are such a humongous hurdle for a young person to climb who doesn’t have a lot of cash on hand The biggest issue in my opinion is that no matter my options, I simply don’t make enough to comfortably afford a monthly mortgage payment by myself. Which means my options are to either get married, get random people to be a roommate, or be lucky enough to have a good friend to live me for what…30 years? It’s honestly ridiculous that we have to rely on living with others these days, so I don’t think you can blame us for at least trying to see what our options are
When Millenials hit midlife crisis age. 45/50. You will have MILLIONS and MILLIONS of Americans wake up all at once and realize they've all been working their entire lives, and still have nothing. When Millenials hit that age bracket shits going to collapse, I guarantee it. And the Eleets knows this, hence the greedforall we are currently experiencing, they are gobbling up whatever they can NOW, because they're well aware there will not be a Later. Hundreds of Millions of people who own no homes, no vehicles, no savings, and have nowhere to turn (because most of their relatives they've relied upon to endure this broken system will be gone). It is going to be a Fucking Disaster.
Yup, I worked 3 years full time or part-full of my highschool years, got crappy grades, after I work 2 years dtraight out of highschool and 2020 happened. Lost my job and my city had lost most of its businessess. My dad lost his job of almost 30 years which he had actually climbed the ladder at and was doing really well. Those was no jobs left after 2020 that even came close to what you used to get as a salary. This is why Gen Z is so poor. The moment we finished highschool (or college) 2020, happened
@@8scottyt It's more like our parents' generation had it fairly good which skewed the perspective. It feels like most of my generation is chasing the unobtainable lifestyle of older cohorts. I think a lot of people aren't having kids because they can't provide to them the same way their parents did. Then again, my parents lived through the collapse of Eastern Germany and the economic shocks afterwards. I don't envy them for that experience, even if houses were still much more affordable for them.
This video only talks about Americans... like, the US is only 4% of the world population... but still they manage to yell that "the world is in caos" because someone in Ohio can't afford a second car.
We literally work to just pay bills. Little or no savings, our mental health is affected. Companies are paying minimum wage. I don't blame our generation for fighting back
@@jasonnugent963 I mean, how come we never question how older gens had numerous chances to dismantle this before it spun out of control. we opt out because we know we can't afford to sit around and wallow and brainstorm how to dismantle a system whose conception predates our own. we aren't the only ones stuck in this insane reality, but are somehow expected to be the one to save it, as if most of us aren't still in school and saddled with the debt that follows. ridiculous!
@@sixeysemks Every generation blames the previous generation. That's how it's always been. Imagine how people after the Civil War felt, being left with that mess. Imagine how people after WW1 felt. Imagine how people felt having to rebuild after the Great Depression. Oh now, here comes WW2, etc etc. I'm not aware of any time in Human history when any new generation said "Hey, the preceding generation sure did a great job !".. I mean, hell, there's times in my job where the stuff I did 6 months ago (which I thought was really smart at the time, and it was).. now looks dumb. And that's just me as 1 individual. Now imagine that on a societal or global level.
@@jasonnugent963 Yes, that's true, and it's for that precise reason we would rather shrug and choose to opt out entirely. I mean, if we minimise participation, we minimise our contribution / involvement in this mess as a whole. It's about all we can do at this point because a full scale societal renovation would need mass co-operation- a feat that has become near impossible thanks to the rich powers that be and social polarisation. As a Gen Z, I don't blame other generations because I know there is not one normal non-one-percent person in these modern times who isn't in the same predicament. I feel for the boomers whose pensions dwindle with each budget cut. I feel for Gen X, whose disillusionment with their work situation drove them to resent human interaction as a whole. I feel for Millennials who will never be able to have the American Dream they were promised. I feel for us, who grew up with the widespread use of an internet that has both traumatised us and become our solace, eating into our mental health and time while our terrible economic situation deals the final blow. It's for that reason I cannot blame anyone within our generation or that of our predecessors, should they choose to save themselves the heartache and adapt to the situation at hand. Corporations want us to care. They want us to fret about climbing the job ladder, about pensions and a house etc, so that we seek them out and provide them with cheap labour to attain these desires. In our choice to shrug our shoulders and shrink into the background, we tell them that we will no longer be passive participants in arbitrary rat races in which we stand to win nothing and lose everything. In doing so, we are revolting, and the immediate reaction to this from older individuals imbedded in corporate structures has been mostly negative (ie. Gen Z don't wanna work, they're lazy and unmotivated etc. ), a reaction born from their frustration at being unable to exploit us as much because of our unwillingness to care about the carrot on the stick. After all, survival is all we can afford to care about in these times.I wanted to just offer that perspective to you, since I think we do revolt in our own way.
This is all really obvious. New generations especially in america have no representation. average age of senators is 65. Youngest is 35. they can't do anything legally and they dont have great resources to make change via other means. Opting out is the greatest impact they can make.
As a Gen Z, I genuinely need answers. Companies aren’t even paying us enough to meet basic needs. The middle class is shrinking everywhere. Like this video said, we’re constantly shifting jobs just to make a little more, because staying in one place isn’t cutting it anymore. Buying a house? Forget it. Sometimes, even basic groceries are hard to afford. And we’re questioning if our degrees are even worth the cost. By the time we graduate, we’re saddled with $100,000+ debt, and for what? Jobs that pay $30/hour and require years of experience-while competing with hundreds of other applicants. Companies want us to work more than 40 hours a week, but why should we care about them when they don’t care about us? Job-hoppers are getting 30% pay raises, while those who stay loyal to one company are getting 2-3% raises yearly. Is that fair? Why even work hard when it’s so difficult to make a decent living? Our degrees feel worthless, our taxes keep climbing, and governments just give us misleading data to hold onto power. My own research shows a rise in young people overworked to death (e.g., EY India) and higher stress-related health issues, even heart conditions. Our generation is likely to have the lowest fertility rate in a century. Why? We simply can’t afford the future. It doesn’t matter if you give a company everything-your skills, loyalty, even 15 hours a day-they’ll still cut you loose, blaming “inflation” while boosting CEO pay and shareholder dividends. (Looking at you, Microsoft 2024.) So tell me-why should we work like Gen X did, when the whole system seems so broken?
You should work on supporting unions and politicians that support anti-trust and other more populist and socialist policy. A great example is Lina Khan.
If you live in Canada or the USA, you also have to factor in the mass immigration that has over saturated entire white collar and blue collar jobs. In Canada, average wages have gone down over the last 10 years thanks to Justin Trudeau disastrous immigration policy. We also have a housing crisis thanks to so many immigrants flooding in and home construction not being able to keep up. Most Canadian employers have forgotten what it means to compete for labor. I mean, why bother? When you’ve got so many immigrants arriving and not enough jobs/housing; they can take advantage of this influx to increase personal profits at the expense of everyone else.
I feel so sad about the future. I thought we could push the AI and make everyone great lives. I won't agree on 1% getting the profit out of that, too. Man, hard to think? We still have the developed technologies where we make mistakes?
13:00 "Entrepreneurial boom" - Read this as "there aren't enough jobs where you do a 9 to 5 that pay enough anymore, so people need to work around-the-clock and give 120% to make ends meet". The average "entrepeneur" is your uber driver, not Mark Zuckerberg.
Patrick Boyle made a video saying data showed in recent times lots of businesses were started in certain states, but it was basically to survive, not because there was an innovate idea to be created. I want to say it was 2-3 months ago for that video.
This is bound to happen when only a group of individuals control the system and masses keeps on supplying abundant supply of slaves then owner class will exploit the slaves.
Also their "technology prowess" is not as it was in the early PC days when you had to assemble your own. They are trained on touch screens. It's not the same skillset, a deep skillset.
We're poor because everything is just so expensive.All I do is go to work,gym and stay at home.I avoid parties,clubs and still end up broke. PS:I have consumed enough knowledge on financial literacy and management through books,videos you name it.But what can I manage and invest if I got nothing at the end of the day
I feel that last part on a spiritual level. Everytime I deposit $100 to try investing, I need eventually it for gas and food. What's the point of investing if I can only put like $2 in there?
Gym? That's a membership. You can get fit without a subscription. I would save and build my own home gym. I only bought a gym subscription so I can hit on chicks lol
That’s about the same timeline with my life & career. Finally house (condo) at age 39 (in 1994). Before that living with parents. Very good relationship there… they didn’t “kick me out”, plus I contributed, fix-ups, lawn, repairs, plus paid rent. Here and there renting basement apartment or staying with friend depending on job contract location. I am 40 years older than you. Retired. So, just have to save, plan, patience, realistic expectations. Please don’t let this vid depress you.
Try doing something other than commenting on YT videos 5 minutes after they're uploaded. If you don't pay rent then wth are you spending your money on?
67 yo mom and grandmom here in US. So glad you are thoroughly covering the realities of the current economic situations, including the way numbers are wrongly reported by governments. I am sick of hearing narcissistic boomers make unrealistic comparisons and negative comments about the younger generations. What we were able to do in the 70's and 80's is absolutely impossible now. Since I don't have any confidence in governments or corporations changing, the point of view of how we live needs to change. Families need to stick together more now like was done in the past to survive and thrive. Don't buy into the now unrealistic societal pressure of everyone owning so much of their own. Young people have been sold out regarding acquiring college debt on top of everything else. You are not defeated or useless or unsuccessful. The powers that be are ruthless.
Im not from the US but same thing happens on my country. Reading your comment gives me hope that we can be understood. Sadly my parents fail in understanding my situation. I literally cant find a job and keep jumping from hoop to hoop I returned to my home land and found things were the same here now. Im tired , depressed, friendless and single and my gen z neighbours are most likely the same atleast one of them ( a girl wich makes it worse given their options to not be lonely) going through the same. Its harsh here and out everywhere, i know becouse ive been pretty much on various countries the last 2 years trying to find my future.
Parents make it even worse. Got my dad saying shouldn't you be thinking about finding a girlfriend and working towards marriage. I'm like got student loans and still under your roof and just got a stable job after 5 years of getting hired and fired from different places. The focus now is to build and be debt free all that other stuff comes later
It's amazing how our of touch parents can be. My dad was an accountant and a college professor and he was so far into left field he wasn't even in the park any more.
@@erosnemesis Super easy to lose it all. Do it slowly and alone and protect your interests!!! One bad relationship and you can lose even more than 50%!!!
thats how i think about things. you're trying to fulfil 1 aspect of your life 100% before you move onto the next. it's logical and i cant do it any other way. i'm 42 and own my home outright. i reckon in about 2 years of doing DIY and learning the area i live in, i'll finaly feel like i'm ready to meet someone. probably wont happen though lol
As a millennial, I feel bad for the gen zs. They're poor, broke & aged at a fast rate and become like boomers. You all deserve better. Let's go backward to the 1920s.
I'm a 'baby boomer'. I'm in the generation that saw companies shift from caring about customers to only caring about Wallstreet. I saw merit increases go from 5-10% down to 1-3%. Companies went from providing training to increase job skills to providing barely more than regulatory training. Young people have seen CEOs run companies into the ground and then walk away with hundreds of millions of dollars while the people doing the real work left with nothing. And don't even get me started on the lousy managers who are a dime a dozen. No wonder these young kids have checked out.
Im GenZ. The reason they can do this without consequence, is because human life is cheaper than a ChatGPT subscription in overpopulated countries like India/China. Old politicians (other than Trump/Bernie Sanders) dont realize that China and India output office workers such as Engineers and Accountants these days. Why the hell would Microsoft ever hire Americans with our annoying labor laws and human rights, when they can over-work an Indian for literal pennies. Keep in mind the only reason we got out of feudalism, was because feudal lords had to compete over a lower pesant population thanks to war. And in turn, peasants got more political power. Nobody starved during this exchange of power. And now were experiencing the total inverse of it.
The "technology leveling the playing field" is the biggest lie there has been. There is no entrepreneurial spirit when people cannot afford to live. Globalization and technology made the entry requirements for most jobs look like specialized positions compared to what was before. In past eras you just needed to get a stable job in order to be able to live. People with uni degrees (even if you consider some of the majors "useless") should not be struggling to live with 2 or 3 jobs at the same time, that was not even the case for people with no studies at all back then.
They are just picky. Learn to code, because that makes you a more efficient worker in every field, and make sacrifices. I don't drive, and have to move close enough to work so that I can walk or afford to uber, which if you are close enough, is cheaper than driving. I move every single year, so I can get cheaper housing. If a company doesn't give me a raise every six months, I find a different job that is willing to pay more. I am always learning new skills to make myself more valuable. Code is a tool, if you are willing to use a calculator or camera or web browser, you should be willing to learn how to code.
Useless majors have always been unprofitable, arts, communication and history are some obvious examples that always have been a net loss and often the equivalent of not having a degree at all on the job market.
@@kaijuultimax9407 Not every job that benefits from having an employee who knows how to code counts as a tech job. Almost every job will be done faster and better by someone who knows how to code, than by someone who doesn't know how to code. You use a calculator, a camera, or a web browser at work? Don't you? Code is simply a tool you should learn to be more competitive.
@@gradientOa lot of residential and commercial property owners increase rent unreasonably after the first lease term is up . But yes renting is cheaper at least for the first several years.
2000 baby here, I was working in Texas making about $20 an hour. With rent costing over $1200 a month, insurance prices for vehicles, gas prices, grocery prices, electricity, etc. it's been brutal to even have money in my pocket. Couldn't even afford food some months, and I couldn't imagine if I had to do an emergency repair on my car. It's brutal at this point for anyone getting started in life
Real quick, you said gen z took advantage of 2020 interest rate to buy home…. Gen z was only 23 at that time. So that was incorrect. Most 23 year old that I know were not buying homes….
I think some peoples' parents might have seen the low rates and bought homes for their kids while the opportunity was there with 0% rates. But you're right, not a lot of 23 year olds making enough to buy a house, and having no student debt and a down payment.
I personally know a gen z'er who bought a house around that time. Single guy working in a factory. Probably was a good idea but I don't know how he's getting on these days.
I know several that did. I think some in my area saw that the rates were so crazy low that they risked little savings, got loans from family or whatever they had to do to get into even basic places (very often, with roommates).
I am a 23 year old physics student from Italy, and for work/personal interest reasons i spend a lot of time in worksites and with construction workers. From my personal experience, there's a massive misunderstanding in what the work market needs. I see so much young people spending years and money in useless overcrowded degrees (for example political sciences, 600 people per year per class in economics, etc...) whereas there's a massive need for professionals like electricians, plumbers, even chimney sweepers: you wouldn't believe how much money those guys make just because it's very rare to find good ones. I know this might sound hypocritical since i go to university as well, but at the same time i'm trying to learn as much practical "proper" work as i can. I also can't see those jobs being replaced by AI ever. I think we just need to step back and realize that university is not the only answer, that's my opinion. My advice to my fellow youngsters is to keep in mind that it’s important to learn how the world rolls as soon as possible, and that pursuing ONLY your personal interests will only get you so far, not only at work but anywhere else in life. That is rarely a good idea. And get out of big cities, life there is not life.
Exactly. The big thing people seem to ignore is that when everyone has a degree your degree is practically useless. It's why in the 60's having a degree meant you probably made good money because almost nobody had a degree. These days it's basically a 50/50 chance of finding someone with some sort of higher education, and those without often have next to no education at all with skilled labour being often ignored. People treat higher education like it's still the 60's.
@ yes!! It’s the good old demand-offer law. Thankfully my degree is still rare since it’s incredibly hard, otherwise there would be no reason for anyone to take it apart from personal curiosity. That doesn’t pay the bills though
@ a good boss has also gone through the jobs of people he’s managing, otherwise he’s useless. Thankfully not all young people is soft, even though i come from the countryside and there’s a chance that my experience is not statistically relevant
@@samjones9600 yes just don't buy a house, moreover if you buy a house they print more money which in turn causes inflation, so don't buy anything and don't try to get into debt
@@Low760 yes, and by governments that ensure that not enough houses can be built, which has caused the demand price of houses to shoot through. in addition, it is the case that for every new mortgage that is issued, that amount plus interest is printed in new currencies. so that also causes inflation
@@Low760 No, how do profits cause inflation??? All inflation is caused by increasing the money supply period (money printing, spoofing required reserve ratio), which sectors the inflation affects depends on where the money is spent and utilized.
I've heard someone say they worked 2 jobs while also working on a business (he's a boomer). I think life was different back then. Today, there seems to be a lot of negativity, hopelessness, and fear, ESPECIALLY with how the economy is going. We need to build a better society where people can have a chance to be empowered...the current state of the world is depressing. It's no wonder people feel hopeless.
I'm just barely not Gen Z, but I think the laziness people see at traditional jobs from Gen Z is due to the broken societal contract. Grandpa could study hard, work hard, get a good job, and buy a home, car, and have a family on his single solid income. Now what do we study hard for? To get an entry level job. What do we work hard for? The absolute cheapest someone can get away with paying us which is, as you showed, comparatively less than most other generations adjusted for inflation. It's becoming more and more apparent that for most people, working hard doesn't equate to being appreciated at work. But most importantly, most of Gen Z have parents who could capitalize on decent salaries and housing prices back in the day. So many just say, "Ehh fuck this, I can live at home." There are even people who have their parents help them out on their rents, though that's a smaller subgroup for sure. I truly think it's the recognition that this social contract is broken that is going to hurt us a lot in the long run. They say people don't want to work. Yeah, what else is new? The thing is is people used to have a reason to work. The rewards of home ownership, being able to take long vacations abroad, spend on your hobbies, support your family, etc. But now we're approaching an environment that is more like slavery with extra steps. There are people fortunate enough to have the choice to work or not because their family already owns land or something. And then there are those that don't have that luxury, where higher ups at companies math out exactly how little they can pay their workers, while landowners simultaneously math out how much they can squeeze their tenants for in a given area.
Yet they are also bringing that attitude to positions which would afford them a good life. No offence but there is an increasing skills shortage in many fields. They are paying well. You just arent good enough to meet the demand. Who's fault is that? You have access to all of the worlds knowledge at your fingertips. You have literally no excuse for it.
@@sacredgeometryin all seriousness, what fields are u talking about? Which fields have shortages? I'm a pro painter but there's so many others out there, I'd have to pay to advertise which is expensive. Once word of mouth gets out from doing a good job. U can ease up on advertising but by then, u pretty much got it made. I've been thru all this & lost everything in the GA flood in 2009 (Cobb county). Aside from owning your own business, what fields do u mean? I really wanna know...
If gen Z will be the most entrepreneurial generation to date, the wealth disparity will just continue to rise. Not all of them will be successful entrepreneurs.
Bro not to mention the ones that you click on that send you to their website where you have to fill out a never-ending application sheet that literally just amounts to you re-typing everything thats already on your resume a thousand times over.
I believe us millennials are one of the first generations to really empathize with the newer generations. We feel we have much more in common with gen Z and later than boomers and gen x.
Probably because unlike Boomers or Gen X you don't have this weird idea that the younger generations are trying to plunder what you "rightfully earned"
Many Gen Z'ers also grew up with millennial older siblings and watched them struggle through the 2008 financial crisis. And the worst part is that it just kept getting worse and worse even as Gen Z came of age and will most likely continue to get worse.
@@kaijuultimax9407can't plunder what we don't have 😅. Of course we sympathize. All but the earliest ones got screwed over and Gen Z is going through the same motions. The only difference is they have foresight now.
I'm at the end of the Gen X cusp and definitely agree. I have been working my ass off since I was 18 and just had the worst timing for every boom and bust. Like missed out on the boom but caught in the bust. Facing foreclosure yet again despite living very frugally and having a good career, sick of working so much for nothing.
Millennials got blind sided by the increased costs of living, education, and healthcare believing they would have a world similar to Gen X and Boomers. Some of the younger Gen X were some of the early victims of this however but they were mostly unheard. Housing Market crashed back in 2008 seemed like the first nail in the coffin. Then Citizens United happened and handed over political power to the corporations. While there were vocal people like Bernie they were silenced out within the democrat party in hopes of achieving the moderate vote over the republicans thus self sabotaging themselves plus why would they bite the hand that feeds them? All the while the republican party started down the route of conspiracy theory and fear mongering while offering the population false hopes.
I work FIFO, and I’ve noticed a growing trend among my colleagues. When they fly back for their week or so off, many choose to go to Bali because it’s actually cheaper to take a holiday there than to live in Australia. It’s disheartening that Australian citizens feel compelled to live overseas rather than in their own country due to the rising cost of living and the pressures caused by population growth through immigration.
As a Millennial, I completely get why Gen Z is behaving how they are. They've looked 1 generation forward and seen what we've gone through, especially since we've been vocal about it. We watched our parents complain until we went to college since that was the safe route to success. So a lot of us went, got all this debt, and then got out and said "Cool that's done. Where's my job you all promised?" only to find out they said, "Not that degree. Not that college. Oh sorry we don't care about degrees, we want experience now." After all the stuff they've seen us go through, idk why they'd try hard at work when they'd get the same crap we earned, which is a stressful job with all these responsibilities and next to no pay for that job, meanwhile funneling all this value and effort we give a company into a boomer business owner's pockets.
"Groceries only got 8% more expensive", that would be a dream, it's like double the price. A few examples just from last time shopping: The cheese I like used to be around 6-8€ per kilö, now it's more than double at 15-20€. Apples are now 3€ a kilo here, that's more than triple the price compared to before covid. A liter of orange juice went from below 1€ to over 2€. When I moved to this city, I used to spend around 20€ per shopping trip, now it's more like 40-50€. And while my preferences defenetly changed, they didn't change this much. Additionally nothing ever goes on sales anymore. I used to be able to get a lot of stuff on sale, now I rarely ever see anything on sale anymore.
Yeah this. I've been shopping to the same store for basically 7 years now and I used to be able to get a week's worth of groceries for like 20-30 bucks. Now I'm basically never spending below 40 euros, with the average being around 45-50 with the occasional spikes to 60 if I need to get occasionally something that's more expensive. There's just so much stuff that spiked in prices. Some breads are now 14 euros a kilo now, pasta got up by like a buck 50 a kilo almost and there's all too many goods that shot up like that. I'm not even mentioning necessities like electricity, fuel and rent who all exploded. Three years ago the rend of my tiny-ass apartment was 307 euros a month. Fast forward to now and it's now 339 euros a month. Simultaneously energy prices absolutely skyrocketed: my electricity bill was 60, now it's 100 euros a month. What I find both hilarious and rage-inducing is that we get hit by all this and there's a ton of folks who are like "Young people are disillusioned, have higher levels of mental illnesses such as depression and we just can't figure out why and how to fix that". Just maddening....
Same situation and sentiment here in South East Asia. Grocery items' prices doubled compared to 2019 prices. And while there are still items on sale from time to time, it doesn't feel like sale prices when you remember how prices were like pre-covid. Then I see news of the billionaires' companies record earnings in recent years after the pandemic? Gee, I wonder how that happened.
@@portalkey5283 Their record earnings are because of inflation too don't you understand that? Their costs increase so they have to increase grocery prices whilst maintaining past profit margins. Hence having record earnings is to be expected. Doesn't mean what you think it means (i.e. they're gouging you or being malicious)
This is where the inflation mis-tracking mentioned in the video comes into play. If you take economics, you learn the CPI basket of goods, you can swap in alternative products if they are deemed similar. I agree myself, I think in 2020 something like 30 large eggs cost $6.96 CAD, then today they are $10.37 CAD I believe. You have a lot of that where the increase is so large for products you realistically do not have alternatives. While for late Millennials and Gen X, they would have already been shopping for the cheap products in each category to save as much money for the future as they could, prior to the inflation surge. So the inflation they experience is undoubtedly higher than a late boomer that would be the ones that could afford the expensive items before that are now swapping to cheaper alternatives.
I'll add another comparison. In 2007 I worked as a warehouse worker with slightly above the minimum wage - I could buy 1000 breads with my salary and pay my rent twice. At the moment - I work as a software developer - I earn four times the minimum wage, and I can buy 2000 breads and I can pay the average rent twice with my current salary. Life is peachy...
A Gen Z here, even with a career path, perfect credit, and no debt. I still can’t easily buy a freaking house. It’s so expensive. I have to save a specific amount for a few years to afford a run down house where I live
Its not that things are expensive - the purchasing power of our fiat currency has been diminishing. They keep printing those papers and reducing the value.
@@pensivepenguin3000 Both parties contributed to this problem. The last administration to run a balanced budget (actually ran a surplus) was Clinton in the 90’s.
1989 here, so 35 millennial. my wife is 29. Im an electrical engineer and department/lab manager at 94k base and somewhere around 105k if I hit my bonuses. my wife works in a biomedical engineering facility as QC inspector and makes 63k. So 160k a year....we live in MA about 20 minutes outside Boston.... we cannot afford a house within a 1.5 hour drive from boston. I literally am so confused....how much money do people need to make? anyways man, strap in - your 20s are going to be a doozy lol.
I'm a 42 year old Millennial, I spent much of my life struggling to cover just basic needs, fighting through homelessness, starvation, serious health issues, and finding basic work. Working hard has nothing to do with it. I feel their pain. I spent years and years learning new skills that would maximize my value in the market and took the self employment route because good luck finding a company that pays you based on real value. Also avoid debt like the plague. You also have to expect failure. My first 4 business failed before I created one that could pay the bills and allow me the mental health benefit of working remotely. It's a lot of work, but it's for you, not for someone else. I will say Boomers and Gen X are totally out of touch with reality when it comes to the reality of the dire state of the financial situation on the ground. I wish everyone the very best out there, much love from Alaska.
Are you an american? How can you be starving with both food stamps and soup kitchens etc? If you have serious health issues why are you looking for work? What does "serious" mean in context?
Thank you! And yes, most Gen X even tho they were mistreated by their boomer parents they still inherited their parents wealth and boomers are almost all wealthy as well, so they don’t really know what’s up out here. I am 22 and I can’t even buy clothes.
Same age class myself as a young gen x. I go by the cut off point 1982 like the tv show survivor did gre up no internet in the 90s and early to mid 2000s
@GabrielNicho You do know you have to be accepted to get food stamps. When you are homeless it makes it harder. They want an address. You have to know about soup kitchens if they have them in your city and what times they are being held and how to get there. I been homeless myself. Denied foodstamps because I wasn't black and I made too much to be able to qualify while being homeless. So I lived in my car until I was able to save money up to even be able to get a place of my own. Not to mention wasted money on application fees 50 here 50 there. Lost money.
37yo millennial here. What I hate about human society nowadays is that everything needs to grow, transform and disrupt. I feel like back in the days, our parents could get by for their whole careers just by doing the same job. Nowadays we're pretty much addicted to constant improvement. But I don't want to improve anymore. I just want it to stop and be the same for 10-20 years. I loathe these fucking CEOs who keep jumping out of the woodwork with more and more products and services that will change our lives. But I don't want my life to be changed and to have to adapt every 2 years until I die. This just sounds awful and extremely stressful
EXACTLY THIS. Also it’s baffling how generations ago when there was a business, mainly all the production happened on site on average. Nowadays there’s endless little bits of production that the business uses another business’ software or services or whatever so there there’s maybe a 3% gain in productivity, but now you have to deal with infinite business selling services to other businesses and when it finally gets down to all the involvement to produce an actual product, it’s a completely unnecessary clusterf^(k so that the people at the very top can get more money. WOW. Such innovation. I’ll take a freeze on computer power or whatever else if I could just get more in pay. And to think that economists a century ago thought we’d be working fewer hours and enjoying our leisure time. Ha! We’re not the ones in charge!
Why? The economy during their time was better. You could raise a family just working for home depot in the 90s. It's no longer the same economy. The older generation has completely failed our youth.
Millennial here and I can absolutely relate to what Gen Z have to go through as I went back to college right before the 08' recession. I was working to just pay rent and bills and then in the summer working 72 hours for nearly a whole month just to make up half of tuition for the next year. I remember after a few weeks of that, just going up to the manager as my third shift was about to start and going something like... "Hey man, I have to leave. " I was so spaced out from constantly working that I didn't even realise I was burnt out. Even before that, at the start it was hard even trying to find even minimum wage jobs as they wouldn't take me on for whatever reason and barely had enough food to eat and even passed out once. Working non-stop only to see others who had the luxury of living at home complaining about having to study for just 3 months and exams and how they couldn't just wait to go on holidays after that. Ah life. Hope things pick up for everyone.
Against what or whom? At least under communism, there was the party to fight against and freedom to win. Now we're all just floating with the market in a valueless sea of apathy where there's really nothing to fight for or against.
@Yeeto767 gotta vote. Turnout this year was back to 2016 levels. Proporttionately less 18-29 voted in 2024 despite a growing demographic. So all this tells me is thst old angry people are getting out but GenZ isn't desper enough to do the same. Or they are manipulated into not voting.
That's not how it works. Wealth can be created without taking it from someone. You don't need losers to be a winner. Part of the problem is that people like you don't understand this.
Technically the nation can lose in numbers, but still gain in economic capacity and outcome. The problem is that the rich would not be as rich in the future if that happened and those with money interests dont like that. USA is not capitalism. It is more siphon economics or corporatism. Meaning the US treasury and government is increasing the bottom line of big companies at the cost of the nation and citizens rather than business being allowed access to workers, infrastructure etc via aiding the nation.
This is outright fallacious thinking. In the 1990s, when the US was experiencing an economic boom, all wealth levels were getting richer. The economy isn't zero sum.
@@Pan_Z 1. That was 3 decades ago. Near the dawn of the upward shift of inequality in America. 2. It's literally zero sum. Relatively at least. And everything is relative. Let's start by closing the system. Let's say just for the United States. Let's then define our resources. Let's say it's all the Earth's resources. The Earth is finite. Let's say that the standard of living somehow, I dunno, ends up being something that is at a point that exceeds the Earth's resources, just as a little fantasy thought experiment. If one person wants something, like an apple, but 333 million other people want an apple, but only 300 million apples get produced, then that apple, that finite resource, by being purchased, has become a zero sum. Scarcity. Which is the most fundamental principle of economics. If the supply is being absorbed at a rate faster than growth at the exclusion of some people. That's scarcity. That's zero sum. 1% of the nation's people own 30% of its wealth. What makes those people money doesn't necessarily make the rest of that 99% money. The people who have more concentrated power and resources have the best influence. The growth of the pie is then influenced by what the winners determine is in their best interest for continuing to win. Relatively speaking, it's inherently/naturally zero sum. It can be MADE to not be that way, but it would take money and effort. And way more money and effort is being dumped into making it not be that way.
@@Lobos222 Lmao how is that not capitalism? Corporations influencing politics is the name of the game; it’s a tale as old as capitalism itself. Any “regulations” implemented by so-called policymakers are bound to be insufficient when capitalists are the ones okaying them.
"Technology will even they playing field" They should reverse that statement for businesses too. They can outsource their labour for cheaper... It isn't leveling the playing field. It's widening the gap.
![Japan's Lost Decade - An Economic Disaster [Documentary]](/img/n.gif)
I'm a 27 yo gen z, and I've been applying to jobs endlessly. They don't want entry level people for entry level jobs anymore. You have to have 3 years experience. What they've been doing is laying off people, opening entry level jobs to pay people with more experience for less money, giving those with no experience, no chance.
I'm in the same boat.
not to mention all the fake job listings now that people have to navigate around too!
How are you suppose to get experience if they don't hire you? Hhhmmm
You need to be Jesus Christ himself to apply for a entry level job and they might still reject you.
dont forget how
for seemingly no reason because they swear they do not sell your data and the job listing is totally real
how every time you throw out a batch of applications you magically get a surge of cold calls and spam calls
DO NOT overextend yourself for any employer. They will not go to your funeral or comfort your loved ones if you drop dead. They will not hesitate to replace you.
CN has an unofficial term for that: huminerals.
That’s true imagine you become rich, how satisfied would it be to give them the middle finger?🤣
Says the guy who is still living in his moms basement
Heavy on this
@@jamieplumberwhats wrong with living in moms basement? Just trying to understand the logic
I'm a millennial, I understand Gen Z's "lack of work ethic", we saw our parents work their whole adult lives only to end up losing their jobs, home and pensions in 2008. Things never fully recovered after that.
Edit: "Lack of work ethic" is obviously a BS take, it's a way companies try and make you feel guilty for not breaking yourself for their bottom line, which nobody's gonna do in an unstable job market that doesn't give the same returns it did 10 or 20 years ago.
That's partly true. As someone living in a country that 2008 almost didn't hit - it's just that millenials & zoomers have more options & just don't want to commit for life.
When opportunities abound, the social contract changes - instead of "I give myself to this workplace for life, you cannot fire me",
we now have "I'm gonna stick around as long as I don't find something better", and so firing is also a lot more commonplace.
Honestly, do you really wanna work corporate 8-5 for 40 years? I bet you like the current flexibility.
@@davidtrak2679 There is no flexibility, employers don't hire people
@@davidtrak2679 Ironically the only reason I don't work said hours is bc I'm now unwilling to sacrifice flexibility to be in the same situation
The thing is, our parents generation was also called lazy by their elders. I don’t really see it as anything new. And the way millennials were
Bashed constantly made me not want to bash Gen-Z the same way we were. I’m not gonna repeat the cycle.
@@notcoleman711 How is that ironic? It's only logical. The workplace has changed, it's the natural evolution of things - it has its bad parts and good ones
Damn. I really am lazy.
My dad walked 20 miles to school, uphill, both ways in the 110 degree sun, barefoot in the snow.
That's nothing. My dad had to swim across the river of Niles, wrestle crocodiles, fight off gorillas from snatching his breakfast and hike the peak of Himalayas before finally being able to see his school with a telescope from the moon.
We really are a generation of lazy people.
Anyway your account looks familiar. By any chance you received some emotional damage from this video ?
im gen x. cant tell you how many times I heard the "started on milk crate furniture" story from my parents (silent gen). So I can relate, to a degree.
@@brendongunn9477 admitting it is half the battle. I really feel bad for Gen Z, they have been royally screwed.
@StevenHe Steven what are you doing here
"Technology will even the playing field" - expert
> Non profit tech research goes for profit
> Search engines ruined, and social media filled with misinformation
> Internet Archived sued to oblivion
> Buying is now replaced with licensing and subscription
> Modern products breaks down faster than retro products
>Piracy isn't theft
Welcome to hyper consumerism, where buying is more important that what you buy it for.
Crypto will solve everything 😉
@@Nomellamo999 until lobbyist push to make it illegal.
Welcome to capitalism
- From median home price of $7,354.00 (1950) to $426,056.00 (2023) is a *5,693%* increase.
- From median income of $3,300.00 (1950) to $46,310.00 (2022) is a *1303%* increase.
The numbers don't lie. We're getting hammered.
It's probable that the median home size also went up a bit, but I very much doubt it's anywhere near 4-fold even out in the country and probably barely at all in city centres.
For the house over 73 years, that's an overall inflation rate well under 6 percent.
Live in a cheaper area. Buy a smaller house. Get a better education. Go into a career that's IN DEMAND.
Improvise and adapt. Use your brain.
Also, housing is NOT the overall economy. You're cherry picking ONE thing.
My laptop costs literally a tenth of a similar level desktop 40 years ago and has literally about a TEN THOUSANDTH or so the power, storage, etc.
@@Steamrick from 1950, average new home size has gone up nearly 3-fold (but new homes won't be the same as the median sq ft in the overall housing stock).
@@rogergeyer9851 housing is literally the biggest cost for the average person lol. Its not really cherry picking when its your biggest cost, and when that cost rises substantially year over year its negatively impacting your ability to spend elsewhere. And unlike your analogy of owning a computer 40 years ago, housing is a necessity and always will be.
@@Steamrickyes .... But now you aren't ALLOWED to build small anymore. Literally a HUGE issue.
That's also why tiny homes don't work. You wouldn't be allowed to place them on your land due to zoning laws. Doesn't help either the LAND is actually worth more than the house sitting on it ...... They are called land banks for a reason
Millennial here. I'm not even trying to further my career anymore. I'm making twice minimum wage. Live with folks, whom I'll be renting from when they move out. I tried the grind. 60 hour weeks making 2.5x minimum wage, plus overtime pay. What did I get out of that. Anger. Anger that the work never eased. Anger that with all that hard work, making more money than I ever have before, I still couldn't get far. I started to resent what I did have. All that hard work, and this is all that I get?
Screw it. Took an easier job with fewer hours. Use my lack of debt to start socking away for retirement. Abandon all hope of a family or a home of my own. Just enjoy each day as they come. Because sacrificing so much time, isn't gonna make the time you do have off any sweeter. You just gonna look at your past and remember only your job, giving your all to bosses and customers. That's no way to live.
its all in the numbers . if you can sprint for a few years and invest everything while living with Parents in the future your 'nestegg' may earn more than you .
I'm Millennial too and I used to work hard like that too, I stopped as soon as I turned 30. The boomer/gen X employers are not worth working hard for anymore, so yes I do less hours now. I know that I'll never own a home (but I'm aware I'll forever be renting) and family! (Forget it, I have already made up my mind that I don't want kids of my own or a wife). So yep I'm just enjoying my life as is. Period!
Thank you millennials for your honest insight.
Boomer: Kids now a day are just lazy.
Same here 😢
2012: Rent - $900 per month
2024: Rent - $900 per week
fed minimum wage - the same
Time is relative - confirmed.
@@GhostFaceCillah keep raising it and see what happen. Many states have raised it as have many stores. Guess what happens? Prices increase. We just playing with bigger numbers.
I bought a trailer home and parked it on my business then paid it off in 5 years from 2018 - 2023. It was $919 with insurance every month.
No it isn't a 3 story townhome like most gen z will claim they deserve, but people need to be realistic.
@@GhostFaceCillah Not a great idea to rely on the government. You're in for a lot of let downs there. Time to create your own way.
The saying "just work harder" is the gaslighting corporates and billionaires have been using to keep us chasing that bag that will truly never be ours
Yeah this. I'm a freelance translator and I pulled insane hours (work till midnight, even on weekends and during supposed vacation periods of the year, including an occasion where I pulled a 60-hour week of nonstop translation. I didn't make more money nor it opened up more opportunities to me. In fact with AI stealing my job my income has basically crashed and burned. It's been flat for over a year as of today and last week I gave my resume to the recycling center of my city on the odd chance they need someone to work with them, even just part time. For the record: if I worked your typical office hours I should be earning 3k euros a month after tax. I should be living extremely comfortably and instead I'm sinking.
"Work harder" is just straight bullshit, regardless if of whether you're underqualified, qualified or overqualified and regardless of from where you're from.
I truly would love to quit working and support myself by living off the land, fixing everything, and enjoying nature. I hate giving my time to the rich. Only issue... I can't afford the land... so I'm forced to continue to give my time to the man.
“You will own nothing, and you will be happy”
That work harder epithet has been spouted since serfdom when the aristocracy tried to make you believe tryouts were doing yourself a favour by working hard for nothing.
@@primodragoneitaliano, try to apply this to hotels. A second language is needed as the majority of people get frustrated when nobody understands them. I'm assuming you speak English and Italian, so places where there is a high visitor rate of English/Italian will be a good fit. Also, if you are not married with children then be willing to move anywhere internationally. Just being willing to move out of your city will put you higher than 50% of applicants, and out of the country will put you over 90%.
A student in Canada "found it cheaper to just fly to his classes"
- Well that's one hell of a comparison.
Lol so true
It unironically is for vancouver. Its welll known that it isnt corporations or even the Chinese that caused our housing crisis here.
What really happened, was old people wanted someone to pay for their retirement. So they would lobby the living shit out of the government to neuter the housing supply.
its well known that whenever theres high density housing proposed, theres legions of old people in community review and other mechanism that solely oppose it.
Purely because it would lower the value of their house.
It's true, you can fly from Calgary or Toronto to Vancouver for like $100, a Vancouver rental is $2500-3500 a month. If you have classes on 3-4 days a week it's just cheaper.
Years ago a guy in the UK crunched the numbers and found commuting from Spain by plane was cheaper than living within a commutable distance to his job in London.
Thats just wrong on so many levels that its cheaper to fly. 🤦
Companies no longer offering pensions was probably one of the catalyst for the negative attitude many seem to have towards employers. Started with millennials and just got worse from there. Why bother investing your time and future in a company who doesn't do the same for you. Instead you can just get laid off at any moment.
real. that's why i pursue art (Hi Marc Brunett), cause most of us had nothing to lose
Should have immediately started a culture of job hopping.
If you want pension these days, you need to invest in dividends but even that isn't enough for a month......
What country are you from, companies have been legally required to offer a workplace pension to their employees in the UK, for over 10 years now.
luckily my job offers a pension and a 401k
We are all poor because all the money is not circulating anymore, it sits with just a handful of unimaginably rich people. We play ONE single monopoly game where the money never goes back into the box for a new game.
Nice comparison!
The money is also not worth alot.
@@jamie6387 you dont know anything about the financial situation the world is in, and you prob dont understand inflation either.
@@jamie6387 thanks, Corporate bot! Some deep insight there. 🤖
This is such an uneducated statement
“The 08 crisis hit [millennials] hard when it came to buying a house”
As a young Millennial I should have been trying to buy a house in 2009 instead of being 14 and a high school freshman.
Im almost 15 currently and I'm legitimately trying to find a job because my parents can't afford to live comfortably with a $30/hour job.
Should have bought a house in 1980s instead of you know, not existing 😞
HOW? THEY WERE in school finishing college in 2008.
@@landrewver4254 My parents should’ve had me at 12 instead of waiting until 26 😔
... You still had to have a big down payment to get a house ... a lot of those cheap homes went to investors..
My uncle, who is over 70 now, saw an ad in a newspaper around 53 years ago that a car manufacturer in his area is searching for people in IT (not what it is today) so he gave him a call without any CV, they hired him on the phone. And one of his last questions was “ but now you have to tell me what IT actually is…”
He worked at that company his whole life.
Compare this to the 300 applications one has to send out with a perfect CV just to get a no as answer, today.
Thats the upside of having actual FACTORIES in your country, instead of sending it all to China.
You actually have access to most of the engineering, IT, and business jobs that we dont have today, but your uncle had access to back then.
Everything they said would happen under automation, has instead happened under outsourcing. Human life in india/china is cheaper than a chatgpt subscription.
Outsourcing only benefits the ultra wealthy and well connected bourgoisie. You dont even get the price advantage of cheaper goods.
What America's dealing with, is the overpopulation problem of other countries.
You should be gleefull that politicians like Bernie Sanders and Trump have influence. Because without China tariffs, there would be no recovery.
We need to build back our factories and bring back jobs. Thats the only way you can tax the ultra wealthy.
Keep in mind the only reason we had the enlightenment and got out of feudalism, was because the peasant population was low due to war, and feudal lords had to compete over peasants, who in turn got power within society. Were slowly reverting back to feudalism because of India/China's overpopulation
that’s crazy. nowadays you gotta have a PhD to work at mcdonald’s, and god forbid your degree isn’t insanely specialized too
Woah, people actually reply to you with “no”? I just get ghosted
You guys are getting answers?
Yeah we go be a nurse , a firefighter , something useful. Not everyone gets to sit by the desk on his PC and do nothing and get 10 000-15 000 a month . Thats why all those are taken . And hospitals are looking for people all the time .
Growth for the sake of growth is the philosophy of a cancer cell.
and government.
@@PhonePhone-sf8te ah the redundancy 😅
Growth for the sake of making personal gains is the philosophy of a wise man.
Growth in the economy raises people, especially at the bottom, out of poverty. You know how many people were in extreme poverty in the world 60 years ago? Like 8x how many are now. The world has gotten much richer with less suffering, and not just the rich people. Sorry, I'd rather have a 9-5 than watch my children starve in some village mud hut. That's why we have globalization.
@@dmmmwerd Growth for the sake of lifting people out of poverty is different than what OP mentioned.
Having grown up in a "poor country", I think what young people are experiencing in "first world countries" now is basically their country turning into a "poor country". Because in poor countries there are still extremely wealthy people that own everything, but the working class are exploited, have a poor quality of life because they can't afford basic things, and have access to crappy public infrastructure. People who grew up in "first world countries" are shocked that this is what their lives have become, because they don't have previous exposure to living in a "poor country". I'm not saying that anyone deserves to have a poor quality of life. But I think it shows that those who had the privilege to live in prosperous countries during prosperous times were simply lucky. It's not because they "work harder" or "deserve" these opportunities. Hard work can only take you so far if you have no access to better prospects due to what you're born into.
Yes, I think this is really what it is. Many of the western countries simply "had it too good" for too long post-WW2 and took advantage of less developed countries. In a way America (etc.) had an inflated average standard of living. The pendulum had swung too far and now it's re-calibrating.
@@Jets228 bullshit. It was not inflated. We simply stopped distributing the yields of technological progress to everyone, and allowed it to concentrate in billionnaire circles
yeah renting a 3x4 room for a quarter of minimum wage is basically normal in my country, you only get a bed and a wardrobe, bathroom is shared with others
@@dennikstandard It was the best standard of living of any time in human history. It was an outlier. But, each of us experience life as it comes and how we grow up generally becomes a baseline. Most westerners haven't considered other countries or travelled to other countries to see how really great they've got it. For the vast majority of people, it simply comes down to the luck of being born in a certain geographical area and has nothing to do with personal value or merit. This is becoming a harsh reality for many, yet most are still living with a "better" quality of life than nearly every other human consciousness in the history of our species.
Agreed. It's a different kind of fucked reality when your family escaped the third world country in the hopes for a better life. We're now fucked here too. No where's safe. I'd like to add: the divide between the ultra rich and poor is just getting wider. Worldwide. The people that blame immigrants are wrong as well. You have to think how things have been going down hill since 2008. I'm starting to think it really is just capitalism. Private equities and elites who only have their own interest.
I honestly went from dreading living with my parents, to valuing the opportunity of spending quality time with them while they still exist, to that and also being grateful I don't have to struggle to sustain basic existence in a constant state of insecurity.
I hope my son feels the same way you do. We already let him know he doesn't *have* to move out at 18. It's hella expensive out there and some roommates cannot be trusted.
It’s a shame that there’s a stigma against living with your parents in the west. In many cultures it’s completely normal, especially if your single, or have young children or as your parent get older. Maybe other cultures have got it right, living in a more communal way, sharing resources and home duties. Rather than grinding through with dogged individualism, paying for a home your barely in.
Nothing wrong with this, especially nowadays but it can benefit both of you and your parents as long as you get along.
Exactly I think the attitudes we have about this causes more issues. We shame and pressure those that do creating animosity.
With how anti social people are becoming. Learning to live and enjoy time with people around you is important and valuable.
Nice, my pops kicked out me and my siblings.
I am 50 (gen X) and bought a home in my early 20s when I delivered pizza for a living. I still live in it today. Honestly, even with a college degree and a much better job I would be homeless if I had to start over. Housing is just too expensive because of the REITs and Airbnb's buying up and holding all the housing stock. In 2008, REITs bought 2 percent of the housing in my area every year. Now? They buy 25 percent annually. How can an average person compete with Wall Street? They can't.
O rly? 🙄 I call bs.
How much was your home and what was your monthly income?
Did you make money from the tech bubble? Did you have inheritance? What was your mortgage interest rate? What was your down payment?? How long did it take to save that amount? How remote is your property?
If people didn't want to buy a house in NYC or LA they could get cheap housing.
I know it's not your fault... but "I am 50 (gen X) and bought a home in my early 20s when I delivered pizza for a living." made me rage so fucking bad.
@@LuigiMordelAlaume why is that BS? I bought a home in 2006 for $110k and my monthly payment was $710. While I didn't deliver pizza, that payment is certainly feasible for someone who delivered pizza full time.
@@echoct506 If you think that is standard, it was not. I'm 49, never bought a house when I was young cause I was moving around for video game development work. I probably earned a lot more, but had no idea I could have just stayed at home, taken a simpler job and earned way more from just buying a house. The last ten years with no or negative interest rate killed a lot of hope.
@@LuigiMordelAlaumeEven houses in bumfuck nowhere are $400k now. It's not just a top city thing anymore.
It’s a special kind of torture to be called lazy by people far wealthier than you when you physically cannot work enough hours in a day to afford a life.
Call them lazy for not having a solution to your problem beyond the LAZY ASSUMPTION that we need to work harder. Let's see them work hard to write up a set of proven instructions to fix our situation. They will fail.
Yea a bit rich from the older generation who had it so much easier
Work smarter? You have Ai. You can learn anything.
I'd go healthcare.. from the bottom to the top.. HHA, CNA, LPN, RN, MSN... study, pass, license, work.
but that was my way..
I researched Job Placement first. Then worked, studied... don't graduate for a paper graduate for a LICENSE. a degree with no license is garbage.
Then build passive income..
Not easy.. but you need a plan
You can be the best Pilot in the world.. but if you don't know where to go... F
Torture make me get out of bed. You have to love pressure, diamonds are made that way, so they say..
@@mindful_clip”you have to love pressure” is a symptomatic reaction to a broken system, and that must be a special kind of torture in itself, to live believing that.
@@mindful_clip If you are the result, then I don't want to be that diamond.
If you put in extra effort at your job, the reward is typically more work, not higher pay.
Yes this is 100%
“you should have taken advantage of low interest rates in 2021” “grandpa, I was 15.”
lol i was 12 now im 18, FUCK!
@@donkeykong1501 i hope it gets better for you guys than it has for the "elder" gen z, it breaks my heart. my sister is 15 (im 27) and i feel so afraid for her, this has been my life since 18 and its only getting worse as i get older, i hope you younger gen z will have it better before you guys enter the "real world". we all deserve a future where we work and actually feel rewarded for it, this isnt it right now :(
@@disasterallosaurus The housing crisis that has been going on for the last decade or so is the EVERYTHING CRISIS. Housing is the biggest part of happiness you can afford. Now you can't afford it. In many countries not even just western countries the housing market is under systematic attack by international housing investor cartels. Environmental regulation isn't helping either since houses in the west need to be build to a such a standard that you need a a few experts to even be allowed to plan one. This is not good because it leads more and more people to just rent.
Thing is, they weren’t low in 2021. They were normal
I mean I was 20 but nobody at 20 is in a position to take advantage of that
2008 really was the end of the real economy. nowadays its just billionaires playing with everyone else's lives.
This
Can we eat them already
Anyone else notice these comments popping up on videos similar to this? So whack bots are commenting stuff like this. What whack job created such a bot too 🤣
@@Beepboop9797 which comment?
@@aaronalquiza9680 the two above me! I’ve seen these two comments multiple times now. It’s always one stating the first thing and then a second comes and says the exact thing the second dude says. Just such a weird statement to promote
@@Beepboop9797 sounds like an "eat the rich" meme callback to me. doesn't always mean it's bots, but i could be wrong too.
The idea that a single man in the 50s-70s could afford to buy a house with two yards and a pool, buy two cars, save for multiple college funds, afford multiple vacations a year, and support a family with multiple kids all from the salary of an entry level factory job that only required a high school diploma doesn't even feel real to me. Like I know in my brain that this really did happen, but like my heart tells me that it is so far removed from reality today that is could not have been true.
100% correct, we live in a smaller house/appartment, only have one car, a $180 smartphone, none or one vacation a year
but most of all, we had no INFLUENCERS and tiktok influencing the weak minded (the force) to do STUPID things 😎
Exactly. Even in the early 80s my oldest brother was able to support his stay at home wife and daughter in a fairly spacious one bedroom apartment. And he was able to do this on a grocery store manager's salary.
It wasn't quite that good. It was usually a small house with no garage, never any jet travel, you can forget about A/C. The big thing was tuition was very nearly free at state universities. You can thank Reagan for ruining that. That doesn't mean everything is fine now, just that this rosy look at the past isn't quite accurate. We did without a lot we take for granted now, and I doubt there is an appetite for the level of austerity that existed during that time in 2024.
The reason the 50s-70s were easy for Americans was because the rest of the world was destroyed by WW2. America didn’t have economic competition and could pay workers very good wages for factory jobs.
Al Bundy :)
This isn’t just gen z. Millennials and even older generations are suffering as well. The reality is the majority of the population is trapped in a cycle of debt and wage slavery
The REAL problem? Watch Scott Galloway. $50 TRILLION has transferred hands from the bottom 90% to the top 10% since 1975. It's purposeful and deliberate. All the money is hiding overseas, earning interest, waiting for a government tax holiday to re-patriot all of their overseas profits.
What's sad is that they did everything their parents told them: go to school, get a degree, get a nice job...and they STILL get fucked over. Sad!
It's true the parents were wrong.
I struggle so much with this mentally. I did everything right in life. I was best in my school, set long-term goals and worked my ass off, sacrifizing my youth and practically my whole 20's. And burned out in my PhD working for a boomer professor that was manipulative, mean and put others down to feel worthy of his own salary and career success.
Now I feel dissillusioned and it is SO hard not to just give up. I could land a soulless job at a factory and survive. With that money I could even afford eating out sometimes and see my friends occasionally. But at what point will it be worth it? Work is so draining, and 30 fucking years of effort did not pay off.
I feel like my generation is waiting for the boomers to die off. In the mean time, the world suffers.
I was in that advisory position too once. Until I realised that each new generation should seek of its own truth (regarding this matter) that needs to reflect its own era. Best with finding out what your truly unique capabilities are and cultivating them further with love and with hope that all will work out just fine.
Get bent over and have a mountain of debt from college that their parents didn't when telling them to go get a degree. I don't think any avg. american parent saw this coming in the late 80's and early 90's.
THIS! This is what pisses me off so fucking much. I just turned 23 and I got a fucking bachelors AND a masters degree in psychology. I went to work in a clinic and I’m working with clients all day long and loving it except the pay is just not enough. Im barely making it. Account always empty. Literally the pay is good but the world is too fucking expensive.
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
How do I get involved in this? I am excited to take part because I genuinely want to build a stable financial future. Who is the main inspiration behind your accomplishments?
Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Using the term "quiet quitting" for working according to your contract is fucking hilarious and is incredibly anti-worker. It's not quitting if I'm fulfilling my contract, I just don't want to put in effort I'm not rewarded for.
Put in the extra effort, you don't see the benefit right away, but it does come. You may need to switch companies, but the benefit from working harder than your coworkers always comes eventually.
One year you will learn that putting in “extra”, enthusiasm, showing initiative, solving problems, mentoring others… will get you promotions or other benefits… without even clawing your way up. Good will, perks, future prospects. People looking out for YOUR interests because YOU are a pleasure to work with. Your attitude still seems to be “quiet quitting” mode, union mentality: “I’m not paid to think”. It’s rather easy to stand out against coworkers who have that attitude if you apply yourself.
@@MegaLokopo And this is exactly what we're always told. And surprisingly, no one cares about the "benefit" that apparently is supposed to come.
We have no faith that this benefit indeed comes, and instead of wasting our time on building up an uncertainty, we do the bare minimum required in our contract and use the rest of our time and energy to enjoy the life we have outside of work. Nobody pays me passion, otherwise my salary would be higher and I wouldn't have to struggle.
I’m a carpenter, I put in the amount of work I’m being paid to do, I work from 8 to 5 when 5pm strikes I don’t care what they’re doing I’m going home anything after 5 pm is extra unpaid work
@MegaLokopo not these days. Most SME businesses are just looking for someone to take the job and constantly be on the job even when you've clocked out. There's so much micromanagement in workplaces, it's hard for anyone (of any age) to get a life, commit to family, have holidays...etc.
A lot of this 'commitment' to work goes unseen because business owners are tight on money and spending too much time budgeting and looking at costs than the welfare of their staff. I noticed all this happening almost suddenly during the COVID pandemic, and it's never stopped since then.
I've seen people work for over 5 years without promotion, so they gave up and do the bare minimum that their employer pays them. 'You pay me minimum wage, I'll give minimum effort' kind of thinking. 😢
Yeah I have a “lack of work ethic” because companies have a lack of any ethic
As a younger millennial (born 1995) I can confirm that these issues are affecting us as well. We got the poor economic tailwinds of millennials with the poor economic headwinds of Gen Z.
Avoid housing debt.
Superbly said!
Better adopt bitcoin to outpace inflation, get five friends to go in on a Chateu together, or go Poly.
As a Gen Xer, I’ve got to admit that housing has definitely gotten a lot more expensive since the '90s. But while some politicians love to use this issue to rile people up, the reality is actually worse than what they’re saying. The tech boom in the late '90s and early 2000s played a big role here-tech companies started handing out massive salaries and stock options to young workers who hadn’t learned much about managing their money yet. They’d pay sky-high prices just to be near the action (parties, friends, and all the social hotspots), which drove up housing costs way faster than inflation.
While younger people today feel the pinch and can blame both the economy and some political messaging, it’s worth noting that wages are at historic highs, especially with the big jumps over the last six years. But I’ve also noticed that younger people tend to spend on a lot of conveniences: DoorDash, Uber Eats, Instacart, Uber and Lyft rides, and subscriptions to all the streaming platforms-Netflix, Disney+, Hulu, and more. People spend without thinking about how it adds up, then get frustrated by prices on basics like gas and groceries. It’s no wonder budgets feel tight when convenience costs keep piling up! I won't even touch on the folks buying $70,000 cars with a 12% APR and repayment terms longer than 5 yrs.
Same here. I just finished my PhD in a highly demanding STEM field as a younger millennial. Making nearly $100k a year in a medium cost of living area in the US. I still cannot afford a house.
I've grown to hate the word "entrepreneur". It's absurd. Everyone is going to open their own business, really? And sell to whom? If everyone creates a business the competition is sky high. You won't buy what you're selling. the whole circular economy makes no sense in a world of "entrepreneurs". Most have to be workers, blue collar is the basis. Someone has to produce so others can sell and others can buy.
Same as everyone trying to be an "influencer" (God I hate that word). People have been sold lies, and social media has and is reinforcing and amplifying those lies on a daily basis. Young people live in a social media echo chamber and they need to break out of it. It's not real!!
@@smaugthemagnificent a lot of the younger generation want to be TH-camrs these days. They see successful channels and all want a piece of it instead of getting a real job. I think parents actively encourage them to be social media “stars” when they see how much money some are making from it. It’s unrealistic though. If a channel is not on your TH-cam feed when you open the app, it means they are not visible unless searched for. Less than 5% of channels get over 95% of the views. Work that one out yet they still think they can get millions from adsense. Work ethic has gone when you get 22 year olds basically just travelling and doing food reviews etc, or other self indulgent crap that benefits nobody really.
I'm a handyman. So, I'm supposed to take my skills and go to an contactor and get paid crap, or make double that working for my self and charging people reasonably affordable rates???
To other entrepreneurs. Theoretically, everyone could be a contractor. There are plenty of businesses making millions with 0 employees.
It's stupid but feasible for a while. Like capitalism. Like a crappy SF movie.
To other companies? actually companies selling stuff to other companies are the welthiest out there, companies are made of people at the end of the day, if everyone was a boss, you could outsource to the rest of the world, thats what globalism is for, and with the introduction of robots and AI, they would be the ones making the money for us.
A below average apartment in the Netherlands is now between 300 and 400K. I flat out refuse to take on such a ridiculous amount of debt. So I remain living with my mom, help her out and enjoy life without having any debt at all. And if that means no family of my own then so be it, I do not want to be in up to my neck in debt just for an illusion of living on my own and playing house.
i dont understand the stigma of living with your family; it's so natural. I really dislike the weird hate it gets, plus your parents will be grateful for the help! win-win
Same, its not just that its hard to attain its knowing your permanently in debt when the house market becomes normal again and selling the house couldn't pay back the mortgage. Renting is tragic to, I used to qualify for a parking spot. I will say the situation has improved for me now, I now qualify for a garage box.
@@EnhancedliesAmerican family culture is toxic.
Imagine how lonely your mom would be without you.And without that development in her brain that pushes her past adolescence and earlier adulthood, the pain that causes rewiring of the brain to be an adult.But you're missing out on this.Because you are a slave.We are all slaves but they're causing you to miss out on brain development and the opportunity that your mother had to have offspring
Gen Z complaining: WOKENESS
Eat bitterness, stop complaining/ crying
"Lack of work ethic" I'm employed full time in a trade and I get paid only 25 cents more than minimum wage, and it took me a year to land my job. I went to trades school, I completed an internship, but no one was willing to hire me because I didn't have real job experience. I was applying every single day and only got hired through a referral. I'm 19. It's not laziness, the times have changed.
The primary problem is greed at the very top. Massively wealthy corporations and companies try to squeeze every last bit of profit out of consumers. Even when the economy is growing, almost all the benefits go to the 1%.
Its called capitalism. And your suggestion would be?
@@DavidEVogel Capitalism tempered by decent and reasonable regulation. We do not have that now. Duh, this is not hard to realize. The problem is, those with the money get to make the laws, effectively.
@gamingweasel4633 look up how much tax the top 10% pay.
@DavidEVogel I think a sizable amount of Trunp voters actually just went like fuck if I know, He looks like a trouble maker, I'll vote for him!
And I kinda get that lol. We gotta find out somehow right?
@@minimumapature3361 True. Trump is a change agent, a disrupter. Although President for 4 years, he is not a politician. One of a handful of Presidents who do not have a law degree. Voters said "The last 4 years have been terrible. I want something different" And the only other choice was Trump.
Millennial here, I worked my whole adult life and still can't afford to buy a home, and I'm 41 with a university degree. Housing and living costs are such a great problem, if something doesn't get done, the country will collapse either due to population decline and financial collapse or civil war. People tend to rebel when they have nothing to lose. We reached that level
What you stated will not happen because of ✨economic migration✨
I’m Millennial, too. I’m 29 years old, studied medicine and I’m working a lot with 70-80hours/week. I have years left to pay off my debt for the house. I invested in agricultural immobiles. Friends of mine studies non-technical stuff are doing worse, while friends who studied IT, became Ingenieur or medicine are doing better. Making the right choices is sometimes hard.
Sadly if there was a civil war, billionaires control the media, and people will fight each other for all the wrong reasons and completely miss out on the common reason everyone struggles.
Do you have kids? @sahaiel
@@sebastianr1204 so you studied a lot and you now have to work a lot? Sir, that´s not a win, that´s LOSS. Until you´ll manage to pay off your debt, your health will be in such decline, you won´t be able to enjoy the rest of your life at all. And your house will be in such declining state, it will be time to take another debt to renovate it.
Making the right choices is not about money. Being able to sustain yourself while being able to enjoy actually LIVING your life, that´s the right choice for me. Even if it means being poor and sometimes tight on money.
I’m a 66-year-old baby boomer. When I started university, there was nearly a 100% student-to-job ratio. Four years later, that had dropped to about 15-20%. I put my art degree on the shelf and turned to painting and decorating until things improved. In 1979, I sold my soul and took my first job for £2,500 a year and lived in a garage.
Here’s the thing: it wasn’t all smooth sailing back then, but just three years later, I was able to secure a 16% interest mortgage and buy my first house. Fast forward to today, and my two sons, both in their 30s, have little to no chance of owning a home-through no fault of their own. Their honours degrees are worth little in a shrinking job market.
I’m the first to admit that my generation had its struggles, but I’m also the first to call out others from my age group who claim that the younger generation just needs to work harder, or stop drinking lattes and eating avocado toast. I’m quick to point out how smug and wrong they are. If a latte or avo on toast brings a bit of joy to their day, good for them-they have precious little else to spend their money on.
For my sons, their best shot at homeownership may be us dying, and even then, it will be a struggle. All four of us feel helpless, but only two of us have homes to call our own.
You sound like an awesome dad. This statement healed my heart a little 🤍
That's PRECISELY how I feel. Your final thoughts are spot on... 😓
I appreciate you. I've talked to and heard from a lot of boomers in my life. From school, to family, and friends' families. Often times, they just don't understand the changing times, they just know from their own struggles and experiences. Each generation experiences a different set of challenges and circumstances, so what worked back then doesn't necessarily work the same way nowadays.
sad situation
So, why did you have kids if you can't afford them?
I’m 27 now. I remember being 16 and if I didn’t like a job or felt like I was being treated unfairly, I’d quit and within like 2 weeks would be employed again. Now, god forbid you lose your job because you’ll be out of work for months on end.
23-year-old here. The timing of this video though. I got laid off just a few hours after this video went up.
Gl bro
Sorry😢 things will get better 🫡
You can bounce back 🙏
So sorry to hear that. Praying for a speedy turn around for you and that you end up with something even better. Keep your head up. This too shall pass.
Good luck!
Why is Gen Z so Poor?
1) Minimum wage never rose while prices of necessities continue to balloon
2) Companies who are hiring for entry level requirements now looks for employees with experience
3) Companies who do hire new graduates only pay salary that is either within or below minimum wage
4) A majority of companies are now all situated only within urban hubs to save cost due to the effect of pandemic
There are many more factors but these are what I could mention at the top of my head
I’m a millennial managing a team composed almost entirely of Gen Z kids (we literally just added 2 millennials a few weeks ago, the first “older” workers we’ve had since the team’s founding).
I will say without a single doubt that my team of Gen Z kids will out-work, out-think, and out-produce any other worker within the company. We are almost without a doubt the most productive team. In fact, they are so hard working I have to step in often and remind them to take lunch and go home and have a life.
They’re not that difficult to manage and motivate. Just treat them like real human beings with real human concerns, and give them meaningful work. Be real with them - they’re not dumb, and they won’t take kindly to corporate bullshit.
Funny thing is, we did hire Gen Z workers for other teams too, and they all inevitably failed. It’s not the generation. It’s out of touch managers who have no ability to be authentic with their team.
Four whole paragraphs to pay yourself on the back, nice one!
@@khymesound Thanks I was about to say something very similar lol
Sounds like a lot of age discrimination in your workplace
Younger millennial here. There’s a lot of truth in this. Corporate leadership sugar coats shit so much. Just tell me like it is man.
Our entire adult lives, the corporate news media and government has been spewing lies to us 24/7.
It blows my mind that they think we believe their BS.
why are they cooking you in the replies? 😂
I'm one of the older Gen Z people. I'm 27 and I've been working since I was 16 as a refrigeration technician apprentice for 4 years and a full technician for 7 years. I was one of the few who had good opportunities in life namely my dad working in the field of refrigeration. I originally studied for diesel tech, plumbing, electrical and refrigeration all at once on my off time. Now this was in part possible due to my dad paying for 2 of my courses and these courses having some subjects in common. But the point to my story is that I now work as a safety officer at my family's brick factory as well as being a general maintenance technician my monthly salary is around 1400 USD and that is one of the higher wage classes in my region of South Africa. The lowest possible rent on a small 1 bedroom apartment here is 500 USD per month. I can understand why most Gen Z people are poor cause the minimum wage won't even cover a single month's rent
“It’s that damn iPhone and $7 Starbucks every day” -A dad who bought a mansion for $200k in 1990 on a $65k salary with a stay at home wife and 3 kids who ran past a mountain of Cracker Barrel level breakfast every morning on the way to the bus
BUY $KENDU #1 MEMECOIN OF 2025 !
I’m older Gen Z, it’s insane how many people I personally know in my generation that struggle to pay bills and rent but have $300 a month phone bills and spend $500 a month eating out.
More like a mcmansion for 160k on a 45k salary while your wife works part-time at $5/hr.
@@kilroywashere9678Bingo. It's not what's coming in that's so important.. it's what's going out that is.. 'Live within your means'.. not 'Live the life you'd like to have because you see everyone else doing it on social media...'
avocado toast
The biggest issue I see is kids being told to go to college and then they'll get a good job they get out of college and then everyone tells them they need 5 years of experience.
I don't think that's right feels like a massive bait and switch to me.
If you spend $50 to $100,000 in 4 years of hard work to get a degree that should at least ensure you get an entry-level job without any extra actual work experience.
Before you would get training certified college degree and then you would get hands-on training on your first job you would start making less money but they would teach you the ins and outs and all the little details that you can only learn by actually doing it.
That is the thing I am going through. I don't even have a degree. I am being turned away from jobs that hire teenagers and the sort because I have no job experience
Not only that but the entry level jobs are BS in terms of the salary they offer. You can graduate with a PhD. in a hard science subject and they offer you a $25k a year job, basically not above the pay you would have got not bothering to go to college.
College is useless I won’t be doing that again
When everyone has a college degree, no one has one.
Most of those being pushed towards college end up in normal, low paying jobs. They would have been better off going to trade school and would've ended up financially richer too.
Every challenge that was thrown at the Millennial generation was amplified for Gen Z. I'm a Millennial and everything that hit us as a challenge was in a sort of transformative state. The old routes to success were getting closed off but weren't fully locked down. The property market wasn't the hellscape it is now. The rental market was just starting to become a new form of serfdom, and working hard was still, somewhat, a way to get out of poverty.
No more. Boomers and the prior generations tore down every social support structure that existed and then snorted the dust of the ruins to get the greatest economic high ever achieved, and then had the gall to look at their kids, who they set up to fail, and their grandkids, who they don't want to watch or support either, and ask, with a straight face, "Why aren't you succeeding like I was?"
College degrees have been both turned into a new age form of financial slavery, with many people taking out ruinous loans in order to get boutique skills, and also been so normalized that the prestige of the achievement has been turned into an expectation rather then an exception.
Housing went from just a place to live to an asset to accumulate wealth. With Mortgage Backed Securities becoming the preferred playthings of hyper-rich elites and then when their reckless gambling destroyed the economy none of them suffered for their choices.
Rentals went from a place where you could live for cheap, so you could save money and build towards a house, to becoming another financial asset, because everyone that couldn't afford a home before 08, but was given a loan anyways, still had to find a place to live.
High School Public education went from something where you could be assured of at least getting something decent to being a joke as federal and state funding has been relentlessly attacked by the hyper-rich and private schools.
Medical care has both had the most incredible advancements in technology and capability, while also becoming something that is one of, if not THE, reason why people declare bankruptcy.
Every challenge that some Millennials managed to dodge, dip, duck, dive, or dodge, had all avenues closed off to Gen Z.
Is it really any surprise why they don't want to partake in this sham, or, even more understandably, want to burn it all down?
Wow. You really hit it with this post.
Damn, that hit hard! 💥
Maybe if they could dodge a wrench, they could dodge this ruinous socioeconomic state of affair ¯\_(ツ)_/¯
Suprised more people isn't talking about this, and scolding them while their still alive... They need to know and understand what they did.
Not with that mind set. I get the empathy but there is lots of ways to become financially free. So many instructional videos on TH-cam. All it takes is discipline and action. Todays the day go do it. Come on. Max 401k max Roth IRA open a living trust. Transfer your investments. Work to make money so the money works for you buy a house to rent out. It’s hard but compared to what.
I’m an older millennial, a professor teaching psychology classes. All of my students are currently Gen Z’s. I am impressed with their writing skills and their willingness to succeed. That’s right. We have to help them however we can and as a professor, that’s what I do currently and this generation inspires me to do so.
While commuting and a 9-5 grind was/is awful, I feel like a lot of workers in past generations accepted it because you were fairly* compensated for it. With minimal effort (saving reasonably) you could expect to one day afford a home, start a family, invest in leisure and passions in your free time; have an acceptable work-life balance essentially. It was a "work hard, play hard" model, vs. today where it's just "work hard, live hard" marching towards what feels like "work hard, die hard".
They “accepted” it because that was the only way one could work
I have 5 unemployed friends and only one of them would count towards the unemployment numbers the government shows us.
Too many are "okay" with living on Assistance instead of working. Or they give up when they see the priority system for subsidized housing rewards single mothers with high priority to get services first. It's part of the problem with some groups of people having lots of single mothers in order to obtain their own free apartments with subbed utilities.
That's not true lol. There's 6 levels of unemployment.
@@animejanai4657Lol ok dude, I know who you're trying to picture but there are 1000x more Billy Bobs in a trailer than them boosting those numbers. The original comment is correct, hell I've been out of work since March because of chronic pain (thankfully may be returning soon since I can finally get pain meds) and I don't qualify for the unemployment numbers either! There aren't enough regular jobs that pay well enough to survive.
And people still bored for Trump. Huh.
@@dparag14 That has nothing to do with this. If Kamala was in office the exact same problem would still exist, and would likely get even worse.
my great grandmother was born 1905 died 2003, she was born a bit past the lost generation, but she did grow up seeing them and living with them. She used to tell me about how hard times were and how times now are harder but in different ways.
Like for example sure you were literally dirt poor with nothing but the clothes on your back, but most people were still transitioning from farm fields to cities. they had the option to return to the old farmstead to farm for food and live. the had tighter community outreach for churches and what not.
in her last few years she told me who was 10 years old that she was saddened by the lack of support and bonds people didnt have anymore. she worried that in a few years time we would see the beginning of another lost generation but this time they would not have farms to run back to nor will they have community support.
Thanks for sharing this. You are blessed to have known her.
This made me really sad :(
I think she accurately predicted the future.... :(
She was a wise woman. This generation grew up during WWI and lived through WWI and build up the world again. Compare this to the boomers - they faced no real problems in life despite them telling you otherwise. But boomers will face problems when they get older, no one will be there for them and they won't get the medical support elderly people need, simply because there are too many of them - at least this will be the problem in my country (Germany).
Lack of community support is the scariest part of all of this to me. It’s bad enough to not afford necessities, it’s worse when you can’t get any support from friends or neighbors because you’re a “stranger”.
The pain of getting a degree going into astronomical debt and being rejected hundreds of time from roles that you know you could excel at is causing everyone in the newer generations to give up in some ways.
The fact that I was talking about this with my mom, about how ill never be able to buy a house and her answer was "well your dad and I are gonna die someday" 💀
Hopefully they have health insurance…
Thats so sad 🥺
Your Mom has a good heart. But no one wants that type of blood money.
You'll have a house at 60yo, not too bad..
@studydoc not really blood money but like I don't think she got the point of my frustration lol
I'm a 37 year old millenial. I can tell you right now that gen z is easily the most disadvantaged generation through no fault of their own.
These kids are screwed
im a late gen z born in 2008 this is pretty bad and prices are going up every year inflation is bad deflation is really bad too yet people still pressure us to have a family we are literally killing to feed ourselves nah I don't want a kid I gotta get by myself first I need enough my money to support myself first its bad worldwide the future who knows it my be worse
I'm a Gen X dadand it's very obvious to me. One of my kids is flourishing, and the other is struggling hard. The first one studied a subject good for them and has worked well for them The other one has finished college and has struggled since graduation. Both still live at home.
@@vermiformGen Alpha is more screwed.
we are high tech but highly screwed
We can use AI, but only to cry about our misfortune to it while taking assaursnces from it
What a world we are in
"You should have invested while you can!"
Yeah Dad, if only you taught me that when I was 6 instead of 26.
You are still young! Change is always possible.
@@AP777-JCnot at all, its absolutely fucking bleak
@@AP777-JC that's bullshit and you know it, don't be a hypocrite
My parents and older boomer siblings always lectured me about that in the 80s and 90s when I worked minimum wage jobs that barely covered bills and food. You can't save if you have nothing left over!
I should've bought a house when I was 7
53 years old and it's easier to live with my mom than pay $2,000 a month rent anywhere in California.
I am millennial in Croatia. Inflation is killing our budget.Higher salaries cant match inflation. Buying home is out of reach if you want to buy it with your own money.
i am gen z in serbia.........
Brat moj, pogledaj si Slovenijo, use kaj smo imali so nam uništili, imali smo nakboljši standard v celi YU, več 30 let v celem svetu najboljo gospodarsko rast a sad, pri 26 god nemam ni za hleb, i socialna pomoč samo za migrante ja bi mogao izgubit sve da bi mi dali pomoč, dalje svi mladi odlaze vanzemlje, žalostno več u hrv je bolje stanje nego tu kod nas, da o tome da ima sad puno srba koji okupirajo ljubljano i so u večini krivi zato što se dogaja ne govorim..
US is having it the worst
I noticed prices in Serbia are almost the same compared to prices in the usa, especially for groceries
@@dj_isnt_scaredit's not a competition my friend...
My dental hygienist gets up at 4:30am to get to school (it's not even paid work), and sometimes doesn't get to go home til 8pm. She doesn't seem lazy to me.
And you trust her with your teeth?
@@johnhudson9167 Lol like you have any alternatives.
I wake up at 415am, your dental hygienist seems VERY LAZY to me.
Well I wake up at 2 am so you're a lazy bum! I work 19 hour days at 3 jobs 7 days a week cuz I'm on the GRIIIIND!!! I almost have enough to put a down payment on this trailer so I'll be able to move out of my friend's car @@archmage_of_the_aether
@@archmage_of_the_aetherI wake up at 4am both of you are wayyyyyy too lazy
I'm Gen-X and wanted to comment on layoffs. I've been through 5 since 2017, with the last one coming out of the blue (actually all but one was fully unexpected). Even at my last job where I thought I was valued and the CEO cared (he does, but financials dictated some tough decisions), I was still let go unceremoniously. The "doing the bare minimum" is the right approach. Loyalty has left the chat.
Loyalty left corporations in the 80's, both to employees, society and nation. The only thing that matters is the bottom line and numbers, increasingly judged by faceless financial overlords located in a tax haven in nowhere land.
@@iRelevant.47.system.boycott Facts.
"doing the bare minimum" has always been the way.
I wonder if this is a Gen-X thing. I started my actual career path in 2004 and have always done the bare minimum. The crazy thing is that I am actually still productive. I just don't stress out about things like I see those younger or those older than me.
Economic uncertainty can be daunting, but downturns often present opportunities. As a value investor, I’m focusing on strong fundamentals and companies with long-term growth potential. Stocks like NVIDIA in AI and undervalued dividend-paying companies feel like safer bets amidst rising rates. Patience is key.
I agree. Even with great opportunities, we should proceed cautiously. Seeking market analysis or advice from certified market strategists is important.
Absolutely, having a solid plan is crucial. My portfolio has doubled since early last year. My financial advisor and I are working towards a seven-figure goal, though it might take until Q3 2024.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve my financial goals.
Her name is “KENIA GIORDANI BORGES”. You can research her name to find the necessary details and set up an appointment.
Thanks! After reviewing her credentials, I'm impressed too. I've scheduled a call with her for advice.
Forget buying home, I can't even get a f*cking job.
There's job everywhere. I work 2 jobs. U can have 1
@@csick11so many people have 1-3 jobs now than before. Which can make it harder for someone to find one job.
@@csick11have you thought that multiple people having multiple jobs would make it harder for the JOBLESS to get one?
@vzaaa6314 no it's based on qualifications and how impressive your resume and interview skills are ahha
@@csick11 No one wants to work a minimum wage job making 7 dollars and hour like you.
UK millennial here. Had to live in a crappy old camper van for a few years just to be able to save up the deposit on a 2b home in one of the cheapest parts of the country; this is not sustainable.
That's what conservatism does to a country
2 billion for a house is a bargain!
@HeadsetHistorian 2b means 2 bedroom... not billion.
@@reggiep75 oh, I was worried for a second there
Some friends, especially those with foreign partners are looking overseas for home ownership. Soon only the rich will live here, I do wonder who will be serving them.
This is very curious to me, because Gen Z are feeling like Gen X or Millennials felt in third world countries. I'm millennial, from Colombia, and was always so worried, with so much anxiety not knowing if I was going to be able to find a slightly decent job after university, and my friends were struggling with the same situation. We are now 40 and many of us don't have kids or own a house. This shows me countries like US or Canada, are just turning their population into mid-class people from third world countries.
First world country are very good credit and mortgage.. they have sold the wealth of their future generations long time ago
100%, i read somewhere a long time ago that America is a third world country with a Gucci belt on. and i have never been able to get that out of my head because it's true. living in poverty, can't get a job, can't hardly feed myself... america is just as fucked up and corrupt as the countries they try to project it on.
A HUGE part of the property problem comes from allowing foreigners to buy up what is usually the starter home bracket properties.
I think Gen Z is paving the way towards forcing correction in this messed up market
We look at houses and say “nah that’s stupid” and look towards tiny homes
We look at traditional wage growth and say “nah that’s stupid” and learned to job hop and put pressure on companies instead
We look at College tuition prices and say “nah that’s stupid” and learned that trade skill jobs are extremely viable
In glad to be apart of a generation that would rather find our own solutions than just put up with the bull shit that the world presented us
I think Gen Z and millenials are the generation that does not like the bullshit but still puts up with it and expects others to fix it.... I seen it
@daisy9181 a rundown house now is the cost of an expensive house even 5 years ago
One of my coworkers (30yr old) put it best, "it's not that I don't make good money, it's just that everything around me has gotten way more expensive"
dude did you see theone aout Austraia?
i live in a suburb almost rurual area 2 hours from sydney
Housesaround he start at about $750,000
Any old or rundown house is outbid and knocked down by developers
@daisy9181
@ nah hell no bro, as someone who makes decent money in a low cost of living state in Oklahoma…houses that are cheap enough to fit my budget are complete trash and in bad areas. Not to mention that the down payment and costs of closing costs are such a humongous hurdle for a young person to climb who doesn’t have a lot of cash on hand
The biggest issue in my opinion is that no matter my options, I simply don’t make enough to comfortably afford a monthly mortgage payment by myself. Which means my options are to either get married, get random people to be a roommate, or be lucky enough to have a good friend to live me for what…30 years? It’s honestly ridiculous that we have to rely on living with others these days, so I don’t think you can blame us for at least trying to see what our options are
You are deluded
"work hard and you'll succeed" means next to nothing in this day and age
It's called just-world fallacy.
When Millenials hit midlife crisis age. 45/50. You will have MILLIONS and MILLIONS of Americans wake up all at once and realize they've all been working their entire lives, and still have nothing. When Millenials hit that age bracket shits going to collapse, I guarantee it. And the Eleets knows this, hence the greedforall we are currently experiencing, they are gobbling up whatever they can NOW, because they're well aware there will not be a Later. Hundreds of Millions of people who own no homes, no vehicles, no savings, and have nowhere to turn (because most of their relatives they've relied upon to endure this broken system will be gone).
It is going to be a Fucking Disaster.
@@scifirealism5943no, it’s called people work hard in fields that were never lucrative to begin with.
@@Pie1183Games the idea that if you work hard and you'll be fine, is just-world fallacy..
Yup, I worked 3 years full time or part-full of my highschool years, got crappy grades, after I work 2 years dtraight out of highschool and 2020 happened. Lost my job and my city had lost most of its businessess. My dad lost his job of almost 30 years which he had actually climbed the ladder at and was doing really well. Those was no jobs left after 2020 that even came close to what you used to get as a salary.
This is why Gen Z is so poor. The moment we finished highschool (or college) 2020, happened
I'm 31 and grew up in a poor country, so I'm used to poverty. I guess I'm "lucky".
Same and I’m 21
It's all about perspective, and the young generations in wealthy countries just might have it too good! 😏
@@8scottyt yep 👍🏽
@@8scottyt It's more like our parents' generation had it fairly good which skewed the perspective. It feels like most of my generation is chasing the unobtainable lifestyle of older cohorts. I think a lot of people aren't having kids because they can't provide to them the same way their parents did.
Then again, my parents lived through the collapse of Eastern Germany and the economic shocks afterwards. I don't envy them for that experience, even if houses were still much more affordable for them.
This video only talks about Americans... like, the US is only 4% of the world population... but still they manage to yell that "the world is in caos" because someone in Ohio can't afford a second car.
We literally work to just pay bills. Little or no savings, our mental health is affected. Companies are paying minimum wage. I don't blame our generation for fighting back
Except they're not really "fighting back". They're just shrugging and giving up and fading into invisibility.
@@jasonnugent963 I mean, how come we never question how older gens had numerous chances to dismantle this before it spun out of control. we opt out because we know we can't afford to sit around and wallow and brainstorm how to dismantle a system whose conception predates our own. we aren't the only ones stuck in this insane reality, but are somehow expected to be the one to save it, as if most of us aren't still in school and saddled with the debt that follows. ridiculous!
@@sixeysemks Every generation blames the previous generation. That's how it's always been. Imagine how people after the Civil War felt, being left with that mess. Imagine how people after WW1 felt. Imagine how people felt having to rebuild after the Great Depression. Oh now, here comes WW2, etc etc. I'm not aware of any time in Human history when any new generation said "Hey, the preceding generation sure did a great job !".. I mean, hell, there's times in my job where the stuff I did 6 months ago (which I thought was really smart at the time, and it was).. now looks dumb. And that's just me as 1 individual. Now imagine that on a societal or global level.
@@jasonnugent963 Yes, that's true, and it's for that precise reason we would rather shrug and choose to opt out entirely. I mean, if we minimise participation, we minimise our contribution / involvement in this mess as a whole.
It's about all we can do at this point because a full scale societal renovation would need mass co-operation- a feat that has become near impossible thanks to the rich powers that be and social polarisation.
As a Gen Z, I don't blame other generations because I know there is not one normal non-one-percent person in these modern times who isn't in the same predicament.
I feel for the boomers whose pensions dwindle with each budget cut. I feel for Gen X, whose disillusionment with their work situation drove them to resent human interaction as a whole.
I feel for Millennials who will never be able to have the American Dream they were promised. I feel for us, who grew up with the widespread use of an internet that has both traumatised us and become our solace, eating into our mental health and time while our terrible economic situation deals the final blow.
It's for that reason I cannot blame anyone within our generation or that of our predecessors, should they choose to save themselves the heartache and adapt to the situation at hand. Corporations want us to care. They want us to fret about climbing the job ladder, about pensions and a house etc, so that we seek them out and provide them with cheap labour to attain these desires.
In our choice to shrug our shoulders and shrink into the background, we tell them that we will no longer be passive participants in arbitrary rat races in which we stand to win nothing and lose everything. In doing so, we are revolting, and the immediate reaction to this from older individuals imbedded in corporate structures has been mostly negative (ie. Gen Z don't wanna work, they're lazy and unmotivated etc. ), a reaction born from their frustration at being unable to exploit us as much because of our unwillingness to care about the carrot on the stick.
After all, survival is all we can afford to care about in these times.I wanted to just offer that perspective to you, since I think we do revolt in our own way.
This is all really obvious. New generations especially in america have no representation. average age of senators is 65. Youngest is 35.
they can't do anything legally and they dont have great resources to make change via other means. Opting out is the greatest impact they can make.
As a Gen Z, I genuinely need answers.
Companies aren’t even paying us enough to meet basic needs. The middle class is shrinking everywhere.
Like this video said, we’re constantly shifting jobs just to make a little more, because staying in one place isn’t cutting it anymore.
Buying a house? Forget it. Sometimes, even basic groceries are hard to afford. And we’re questioning if our degrees are even worth the cost.
By the time we graduate, we’re saddled with $100,000+ debt, and for what? Jobs that pay $30/hour and require years of experience-while competing with hundreds of other applicants.
Companies want us to work more than 40 hours a week, but why should we care about them when they don’t care about us? Job-hoppers are getting 30% pay raises, while those who stay loyal to one company are getting 2-3% raises yearly. Is that fair?
Why even work hard when it’s so difficult to make a decent living? Our degrees feel worthless, our taxes keep climbing, and governments just give us misleading data to hold onto power.
My own research shows a rise in young people overworked to death (e.g., EY India) and higher stress-related health issues, even heart conditions. Our generation is likely to have the lowest fertility rate in a century. Why? We simply can’t afford the future.
It doesn’t matter if you give a company everything-your skills, loyalty, even 15 hours a day-they’ll still cut you loose, blaming “inflation” while boosting CEO pay and shareholder dividends. (Looking at you, Microsoft 2024.)
So tell me-why should we work like Gen X did, when the whole system seems so broken?
You should work on supporting unions and politicians that support anti-trust and other more populist and socialist policy. A great example is Lina Khan.
If you live in Canada or the USA, you also have to factor in the mass immigration that has over saturated entire white collar and blue collar jobs.
In Canada, average wages have gone down over the last 10 years thanks to Justin Trudeau disastrous immigration policy. We also have a housing crisis thanks to so many immigrants flooding in and home construction not being able to keep up.
Most Canadian employers have forgotten what it means to compete for labor. I mean, why bother? When you’ve got so many immigrants arriving and not enough jobs/housing; they can take advantage of this influx to increase personal profits at the expense of everyone else.
@@bw9382 I don’t know about white collar unions, but certain blue collar unions like plumbers are going strong in these turbulent times.
Seems like there's just too many of you. Blame your parents.
I feel so sad about the future. I thought we could push the AI and make everyone great lives. I won't agree on 1% getting the profit out of that, too.
Man, hard to think? We still have the developed technologies where we make mistakes?
13:00 "Entrepreneurial boom" - Read this as "there aren't enough jobs where you do a 9 to 5 that pay enough anymore, so people need to work around-the-clock and give 120% to make ends meet". The average "entrepeneur" is your uber driver, not Mark Zuckerberg.
Patrick Boyle made a video saying data showed in recent times lots of businesses were started in certain states, but it was basically to survive, not because there was an innovate idea to be created. I want to say it was 2-3 months ago for that video.
This is bound to happen when only a group of individuals control the system and masses keeps on supplying abundant supply of slaves then owner class will exploit the slaves.
Also their "technology prowess" is not as it was in the early PC days when you had to assemble your own. They are trained on touch screens. It's not the same skillset, a deep skillset.
We're poor because everything is just so expensive.All I do is go to work,gym and stay at home.I avoid parties,clubs and still end up broke.
PS:I have consumed enough knowledge on financial literacy and management through books,videos you name it.But what can I manage and invest if I got nothing at the end of the day
I feel that last part on a spiritual level. Everytime I deposit $100 to try investing, I need eventually it for gas and food. What's the point of investing if I can only put like $2 in there?
Gym? That's a membership. You can get fit without a subscription. I would save and build my own home gym. I only bought a gym subscription so I can hit on chicks lol
The American Empire is in decline. The inflection point was the 1990s. After that, everything went downhill.
Just turned 28 years old, still living with my parents. I don’t expect to be able to buy a home for another 7-10 years
That’s about the same timeline with my life & career. Finally house (condo) at age 39 (in 1994). Before that living with parents. Very good relationship there… they didn’t “kick me out”, plus I contributed, fix-ups, lawn, repairs, plus paid rent. Here and there renting basement apartment or staying with friend depending on job contract location. I am 40 years older than you. Retired. So, just have to save, plan, patience, realistic expectations. Please don’t let this vid depress you.
Will you be single that whole time?
Stack Bitcoin while you live with your parents to start building generational wealth.
You're not a Gen Z. 1996 is Millennial.
Try doing something other than commenting on YT videos 5 minutes after they're uploaded. If you don't pay rent then wth are you spending your money on?
67 yo mom and grandmom here in US. So glad you are thoroughly covering the realities of the current economic situations, including the way numbers are wrongly reported by governments. I am sick of hearing narcissistic boomers make unrealistic comparisons and negative comments about the younger generations. What we were able to do in the 70's and 80's is absolutely impossible now. Since I don't have any confidence in governments or corporations changing, the point of view of how we live needs to change. Families need to stick together more now like was done in the past to survive and thrive. Don't buy into the now unrealistic societal pressure of everyone owning so much of their own. Young people have been sold out regarding acquiring college debt on top of everything else. You are not defeated or useless or unsuccessful. The powers that be are ruthless.
I think the whole "politicians have to pay attention to gen Z or they will be out of a job" was proven quite false multiple times in the US election.
Love you grandma ❤
thank you, this inspired me today :)
@@deborahdavis6801 You are a sensible Boomer. I appreciate your take that is based in reality.
Im not from the US but same thing happens on my country. Reading your comment gives me hope that we can be understood. Sadly my parents fail in understanding my situation. I literally cant find a job and keep jumping from hoop to hoop I returned to my home land and found things were the same here now. Im tired , depressed, friendless and single and my gen z neighbours are most likely the same atleast one of them ( a girl wich makes it worse given their options to not be lonely) going through the same. Its harsh here and out everywhere, i know becouse ive been pretty much on various countries the last 2 years trying to find my future.
Parents make it even worse. Got my dad saying shouldn't you be thinking about finding a girlfriend and working towards marriage. I'm like got student loans and still under your roof and just got a stable job after 5 years of getting hired and fired from different places. The focus now is to build and be debt free all that other stuff comes later
Build it with someone so you can combine finances. Makes things super easy.
It's amazing how our of touch parents can be. My dad was an accountant and a college professor and he was so far into left field he wasn't even in the park any more.
@@erosnemesis Super easy to lose it all. Do it slowly and alone and protect your interests!!! One bad relationship and you can lose even more than 50%!!!
thats how i think about things. you're trying to fulfil 1 aspect of your life 100% before you move onto the next. it's logical and i cant do it any other way. i'm 42 and own my home outright. i reckon in about 2 years of doing DIY and learning the area i live in, i'll finaly feel like i'm ready to meet someone. probably wont happen though lol
Tell him to fix the economy first.
As a millennial, I feel bad for the gen zs. They're poor, broke & aged at a fast rate and become like boomers. You all deserve better. Let's go backward to the 1920s.
I'm a 'baby boomer'. I'm in the generation that saw companies shift from caring about customers to only caring about Wallstreet. I saw merit increases go from 5-10% down to 1-3%. Companies went from providing training to increase job skills to providing barely more than regulatory training. Young people have seen CEOs run companies into the ground and then walk away with hundreds of millions of dollars while the people doing the real work left with nothing. And don't even get me started on the lousy managers who are a dime a dozen. No wonder these young kids have checked out.
Im GenZ. The reason they can do this without consequence, is because human life is cheaper than a ChatGPT subscription in overpopulated countries like India/China.
Old politicians (other than Trump/Bernie Sanders) dont realize that China and India output office workers such as Engineers and Accountants these days.
Why the hell would Microsoft ever hire Americans with our annoying labor laws and human rights, when they can over-work an Indian for literal pennies.
Keep in mind the only reason we got out of feudalism, was because feudal lords had to compete over a lower pesant population thanks to war.
And in turn, peasants got more political power. Nobody starved during this exchange of power.
And now were experiencing the total inverse of it.
Your generation of leadership RUINED everything
The "technology leveling the playing field" is the biggest lie there has been. There is no entrepreneurial spirit when people cannot afford to live.
Globalization and technology made the entry requirements for most jobs look like specialized positions compared to what was before. In past eras you just needed to get a stable job in order to be able to live. People with uni degrees (even if you consider some of the majors "useless") should not be struggling to live with 2 or 3 jobs at the same time, that was not even the case for people with no studies at all back then.
They are just picky. Learn to code, because that makes you a more efficient worker in every field, and make sacrifices. I don't drive, and have to move close enough to work so that I can walk or afford to uber, which if you are close enough, is cheaper than driving. I move every single year, so I can get cheaper housing. If a company doesn't give me a raise every six months, I find a different job that is willing to pay more. I am always learning new skills to make myself more valuable. Code is a tool, if you are willing to use a calculator or camera or web browser, you should be willing to learn how to code.
Useless majors have always been unprofitable, arts, communication and history are some obvious examples that always have been a net loss and often the equivalent of not having a degree at all on the job market.
100% technology isn't making it even, that's such bullshit. Now technology is becoming a con not a pro.
@@MegaLokopo "Learn to code" 1/4 of tech jobs were eliminated in the past 4 years. Stop repeating bootstrapper memes and wake up to reality.
@@kaijuultimax9407 Not every job that benefits from having an employee who knows how to code counts as a tech job. Almost every job will be done faster and better by someone who knows how to code, than by someone who doesn't know how to code. You use a calculator, a camera, or a web browser at work? Don't you? Code is simply a tool you should learn to be more competitive.
Housing costs are really out of control.
If you can't afford buying home, you can always rent
@@admintuning absolutely freakin greedy
@@gradientOa lot of residential and commercial property owners increase rent unreasonably after the first lease term is up . But yes renting is cheaper at least for the first several years.
Greedy boomers ruined the housing market
It's being done on purpose
2000 baby here, I was working in Texas making about $20 an hour. With rent costing over $1200 a month, insurance prices for vehicles, gas prices, grocery prices, electricity, etc. it's been brutal to even have money in my pocket. Couldn't even afford food some months, and I couldn't imagine if I had to do an emergency repair on my car. It's brutal at this point for anyone getting started in life
Real quick, you said gen z took advantage of 2020 interest rate to buy home…. Gen z was only 23 at that time. So that was incorrect. Most 23 year old that I know were not buying homes….
I think some peoples' parents might have seen the low rates and bought homes for their kids while the opportunity was there with 0% rates. But you're right, not a lot of 23 year olds making enough to buy a house, and having no student debt and a down payment.
I personally know a gen z'er who bought a house around that time. Single guy working in a factory. Probably was a good idea but I don't know how he's getting on these days.
I know several that did. I think some in my area saw that the rates were so crazy low that they risked little savings, got loans from family or whatever they had to do to get into even basic places (very often, with roommates).
And you know ALL the 23 year olds in North America?
I know right? Rich parents of Gen Z kids took advantage of interest rates to help their kids buy a house, maybe.
I am a 23 year old physics student from Italy, and for work/personal interest reasons i spend a lot of time in worksites and with construction workers. From my personal experience, there's a massive misunderstanding in what the work market needs. I see so much young people spending years and money in useless overcrowded degrees (for example political sciences, 600 people per year per class in economics, etc...) whereas there's a massive need for professionals like electricians, plumbers, even chimney sweepers: you wouldn't believe how much money those guys make just because it's very rare to find good ones. I know this might sound hypocritical since i go to university as well, but at the same time i'm trying to learn as much practical "proper" work as i can.
I also can't see those jobs being replaced by AI ever. I think we just need to step back and realize that university is not the only answer, that's my opinion.
My advice to my fellow youngsters is to keep in mind that it’s important to learn how the world rolls as soon as possible, and that pursuing ONLY your personal interests will only get you so far, not only at work but anywhere else in life. That is rarely a good idea.
And get out of big cities, life there is not life.
Exactly. The big thing people seem to ignore is that when everyone has a degree your degree is practically useless. It's why in the 60's having a degree meant you probably made good money because almost nobody had a degree. These days it's basically a 50/50 chance of finding someone with some sort of higher education, and those without often have next to no education at all with skilled labour being often ignored.
People treat higher education like it's still the 60's.
@ yes!! It’s the good old demand-offer law. Thankfully my degree is still rare since it’s incredibly hard, otherwise there would be no reason for anyone to take it apart from personal curiosity. That doesn’t pay the bills though
I am 55 years old from Canada, and I agree, same here when I was young and even more apparent today.
Yes, gen-z is too soft for hand work, they want to be a boss in office!
@ a good boss has also gone through the jobs of people he’s managing, otherwise he’s useless.
Thankfully not all young people is soft, even though i come from the countryside and there’s a chance that my experience is not statistically relevant
It is crazy that 38m2 is now considered normal for "first family apartment". 30 years of mortgage, of course.
This will end when we tell the boomers no.
@@samjones9600 yes just don't buy a house, moreover if you buy a house they print more money which in turn causes inflation, so don't buy anything and don't try to get into debt
@@Ronaldkleineinflation this time is caused by profits from corporations.
@@Low760 yes, and by governments that ensure that not enough houses can be built, which has caused the demand price of houses to shoot through.
in addition, it is the case that for every new mortgage that is issued, that amount plus interest is printed in new currencies. so that also causes inflation
@@Low760 No, how do profits cause inflation??? All inflation is caused by increasing the money supply period (money printing, spoofing required reserve ratio), which sectors the inflation affects depends on where the money is spent and utilized.
Yooo where are YOU ripping off the music of this video from ???
Min 21:20
Where are your sources??…
I can’t find them…
Maybe I’m blind ??
I've heard someone say they worked 2 jobs while also working on a business (he's a boomer). I think life was different back then. Today, there seems to be a lot of negativity, hopelessness, and fear, ESPECIALLY with how the economy is going. We need to build a better society where people can have a chance to be empowered...the current state of the world is depressing. It's no wonder people feel hopeless.
I'm just barely not Gen Z, but I think the laziness people see at traditional jobs from Gen Z is due to the broken societal contract. Grandpa could study hard, work hard, get a good job, and buy a home, car, and have a family on his single solid income. Now what do we study hard for? To get an entry level job. What do we work hard for? The absolute cheapest someone can get away with paying us which is, as you showed, comparatively less than most other generations adjusted for inflation.
It's becoming more and more apparent that for most people, working hard doesn't equate to being appreciated at work. But most importantly, most of Gen Z have parents who could capitalize on decent salaries and housing prices back in the day. So many just say, "Ehh fuck this, I can live at home." There are even people who have their parents help them out on their rents, though that's a smaller subgroup for sure.
I truly think it's the recognition that this social contract is broken that is going to hurt us a lot in the long run. They say people don't want to work. Yeah, what else is new? The thing is is people used to have a reason to work. The rewards of home ownership, being able to take long vacations abroad, spend on your hobbies, support your family, etc. But now we're approaching an environment that is more like slavery with extra steps. There are people fortunate enough to have the choice to work or not because their family already owns land or something. And then there are those that don't have that luxury, where higher ups at companies math out exactly how little they can pay their workers, while landowners simultaneously math out how much they can squeeze their tenants for in a given area.
Previously, working 8 hours a day was considered normal, but now it is seen as a privilege. I work 10 hours a day with only one holiday a week. 😢
Yet they are also bringing that attitude to positions which would afford them a good life. No offence but there is an increasing skills shortage in many fields.
They are paying well. You just arent good enough to meet the demand.
Who's fault is that? You have access to all of the worlds knowledge at your fingertips. You have literally no excuse for it.
@@sacredgeometrygen z doesn’t even hold 1% of these positions you’re tweaking
@@macarooni4023 Which positions?
@@sacredgeometryin all seriousness, what fields are u talking about? Which fields have shortages? I'm a pro painter but there's so many others out there, I'd have to pay to advertise which is expensive. Once word of mouth gets out from doing a good job. U can ease up on advertising but by then, u pretty much got it made. I've been thru all this & lost everything in the GA flood in 2009 (Cobb county). Aside from owning your own business, what fields do u mean? I really wanna know...
If gen Z will be the most entrepreneurial generation to date, the wealth disparity will just continue to rise. Not all of them will be successful entrepreneurs.
I think by the most entrepreneurial generation he means selling weed on street corner.
@dolphingang3767going on the block to get money for yourself and your family isn't considered a side hustle? Huh
This the kind of content I want to spend my luch break consuming, good mini doc that are sub 30min. Please keep it up. +sub
Single residence home buying should be banned from corporate acquisition.
Multi-residence housing too. They should be co-ops.
Completely agree
100% Agree on that. Anna In Ohio
And apartment and rental property price gouging should also be regulated.
@@vincentxavierrno way how ami suppose stay rich😂
when I send a job application, 99% of them don't even give me an answer, they just ignore me 😂
Mine did but they said they don't have the position that I am applying for even though that's the position they posted on the job listing sites.
You have to lie about your experience. And just learn as you go. Everyone talks bad about coworkers anyways. So just do it
Bro not to mention the ones that you click on that send you to their website where you have to fill out a never-ending application sheet that literally just amounts to you re-typing everything thats already on your resume a thousand times over.
I believe us millennials are one of the first generations to really empathize with the newer generations. We feel we have much more in common with gen Z and later than boomers and gen x.
Probably because unlike Boomers or Gen X you don't have this weird idea that the younger generations are trying to plunder what you "rightfully earned"
Many Gen Z'ers also grew up with millennial older siblings and watched them struggle through the 2008 financial crisis. And the worst part is that it just kept getting worse and worse even as Gen Z came of age and will most likely continue to get worse.
@@kaijuultimax9407can't plunder what we don't have 😅. Of course we sympathize. All but the earliest ones got screwed over and Gen Z is going through the same motions. The only difference is they have foresight now.
I'm at the end of the Gen X cusp and definitely agree. I have been working my ass off since I was 18 and just had the worst timing for every boom and bust. Like missed out on the boom but caught in the bust.
Facing foreclosure yet again despite living very frugally and having a good career, sick of working so much for nothing.
Millennials got blind sided by the increased costs of living, education, and healthcare believing they would have a world similar to Gen X and Boomers. Some of the younger Gen X were some of the early victims of this however but they were mostly unheard. Housing Market crashed back in 2008 seemed like the first nail in the coffin. Then Citizens United happened and handed over political power to the corporations. While there were vocal people like Bernie they were silenced out within the democrat party in hopes of achieving the moderate vote over the republicans thus self sabotaging themselves plus why would they bite the hand that feeds them? All the while the republican party started down the route of conspiracy theory and fear mongering while offering the population false hopes.
I work FIFO, and I’ve noticed a growing trend among my colleagues. When they fly back for their week or so off, many choose to go to Bali because it’s actually cheaper to take a holiday there than to live in Australia.
It’s disheartening that Australian citizens feel compelled to live overseas rather than in their own country due to the rising cost of living and the pressures caused by population growth through immigration.
The Marketing Degree with the retail job hit right in the soul as a marketing graduate working a retail job 😂
Same
Same here. Still having my marketing business as a side hustle though.
Data science degree but I'm currently a yard dog.
As a Millennial, I completely get why Gen Z is behaving how they are. They've looked 1 generation forward and seen what we've gone through, especially since we've been vocal about it.
We watched our parents complain until we went to college since that was the safe route to success. So a lot of us went, got all this debt, and then got out and said "Cool that's done. Where's my job you all promised?" only to find out they said, "Not that degree. Not that college. Oh sorry we don't care about degrees, we want experience now."
After all the stuff they've seen us go through, idk why they'd try hard at work when they'd get the same crap we earned, which is a stressful job with all these responsibilities and next to no pay for that job, meanwhile funneling all this value and effort we give a company into a boomer business owner's pockets.
"Groceries only got 8% more expensive", that would be a dream, it's like double the price. A few examples just from last time shopping: The cheese I like used to be around 6-8€ per kilö, now it's more than double at 15-20€. Apples are now 3€ a kilo here, that's more than triple the price compared to before covid. A liter of orange juice went from below 1€ to over 2€. When I moved to this city, I used to spend around 20€ per shopping trip, now it's more like 40-50€. And while my preferences defenetly changed, they didn't change this much. Additionally nothing ever goes on sales anymore. I used to be able to get a lot of stuff on sale, now I rarely ever see anything on sale anymore.
Yeah this. I've been shopping to the same store for basically 7 years now and I used to be able to get a week's worth of groceries for like 20-30 bucks. Now I'm basically never spending below 40 euros, with the average being around 45-50 with the occasional spikes to 60 if I need to get occasionally something that's more expensive. There's just so much stuff that spiked in prices. Some breads are now 14 euros a kilo now, pasta got up by like a buck 50 a kilo almost and there's all too many goods that shot up like that.
I'm not even mentioning necessities like electricity, fuel and rent who all exploded. Three years ago the rend of my tiny-ass apartment was 307 euros a month. Fast forward to now and it's now 339 euros a month. Simultaneously energy prices absolutely skyrocketed: my electricity bill was 60, now it's 100 euros a month.
What I find both hilarious and rage-inducing is that we get hit by all this and there's a ton of folks who are like "Young people are disillusioned, have higher levels of mental illnesses such as depression and we just can't figure out why and how to fix that". Just maddening....
Same situation and sentiment here in South East Asia. Grocery items' prices doubled compared to 2019 prices. And while there are still items on sale from time to time, it doesn't feel like sale prices when you remember how prices were like pre-covid. Then I see news of the billionaires' companies record earnings in recent years after the pandemic? Gee, I wonder how that happened.
@@portalkey5283 Their record earnings are because of inflation too don't you understand that? Their costs increase so they have to increase grocery prices whilst maintaining past profit margins. Hence having record earnings is to be expected. Doesn't mean what you think it means (i.e. they're gouging you or being malicious)
This is where the inflation mis-tracking mentioned in the video comes into play. If you take economics, you learn the CPI basket of goods, you can swap in alternative products if they are deemed similar. I agree myself, I think in 2020 something like 30 large eggs cost $6.96 CAD, then today they are $10.37 CAD I believe. You have a lot of that where the increase is so large for products you realistically do not have alternatives. While for late Millennials and Gen X, they would have already been shopping for the cheap products in each category to save as much money for the future as they could, prior to the inflation surge. So the inflation they experience is undoubtedly higher than a late boomer that would be the ones that could afford the expensive items before that are now swapping to cheaper alternatives.
I'll add another comparison. In 2007 I worked as a warehouse worker with slightly above the minimum wage - I could buy 1000 breads with my salary and pay my rent twice. At the moment - I work as a software developer - I earn four times the minimum wage, and I can buy 2000 breads and I can pay the average rent twice with my current salary. Life is peachy...
Dagogo, your content is just getting better and better. Thank you for your insightful vids.
A Gen Z here, even with a career path, perfect credit, and no debt. I still can’t easily buy a freaking house. It’s so expensive. I have to save a specific amount for a few years to afford a run down house where I live
Its not that things are expensive - the purchasing power of our fiat currency has been diminishing. They keep printing those papers and reducing the value.
Did you vote? If you didn’t, or if you voted for the guy who won, you have no space to complain.
I complained, I voted and my guy won.
@@pensivepenguin3000 Both parties contributed to this problem. The last administration to run a balanced budget (actually ran a surplus) was Clinton in the 90’s.
1989 here, so 35 millennial. my wife is 29. Im an electrical engineer and department/lab manager at 94k base and somewhere around 105k if I hit my bonuses. my wife works in a biomedical engineering facility as QC inspector and makes 63k. So 160k a year....we live in MA about 20 minutes outside Boston.... we cannot afford a house within a 1.5 hour drive from boston. I literally am so confused....how much money do people need to make? anyways man, strap in - your 20s are going to be a doozy lol.
I'm a 42 year old Millennial, I spent much of my life struggling to cover just basic needs, fighting through homelessness, starvation, serious health issues, and finding basic work. Working hard has nothing to do with it. I feel their pain. I spent years and years learning new skills that would maximize my value in the market and took the self employment route because good luck finding a company that pays you based on real value. Also avoid debt like the plague. You also have to expect failure. My first 4 business failed before I created one that could pay the bills and allow me the mental health benefit of working remotely. It's a lot of work, but it's for you, not for someone else. I will say Boomers and Gen X are totally out of touch with reality when it comes to the reality of the dire state of the financial situation on the ground. I wish everyone the very best out there, much love from Alaska.
Are you an american? How can you be starving with both food stamps and soup kitchens etc? If you have serious health issues why are you looking for work? What does "serious" mean in context?
Thank you! And yes, most Gen X even tho they were mistreated by their boomer parents they still inherited their parents wealth and boomers are almost all wealthy as well, so they don’t really know what’s up out here. I am 22 and I can’t even buy clothes.
Same age class myself as a young gen x. I go by the cut off point 1982 like the tv show survivor did gre up no internet in the 90s and early to mid 2000s
@GabrielNicho You do know you have to be accepted to get food stamps. When you are homeless it makes it harder. They want an address. You have to know about soup kitchens if they have them in your city and what times they are being held and how to get there. I been homeless myself. Denied foodstamps because I wasn't black and I made too much to be able to qualify while being homeless. So I lived in my car until I was able to save money up to even be able to get a place of my own. Not to mention wasted money on application fees 50 here 50 there. Lost money.
Very well-said. God bless on your way.
37yo millennial here. What I hate about human society nowadays is that everything needs to grow, transform and disrupt. I feel like back in the days, our parents could get by for their whole careers just by doing the same job. Nowadays we're pretty much addicted to constant improvement. But I don't want to improve anymore. I just want it to stop and be the same for 10-20 years. I loathe these fucking CEOs who keep jumping out of the woodwork with more and more products and services that will change our lives. But I don't want my life to be changed and to have to adapt every 2 years until I die. This just sounds awful and extremely stressful
Oh wow never thought about that. I'm so sorry for that life is what you say.
I concur.
EXACTLY THIS. Also it’s baffling how generations ago when there was a business, mainly all the production happened on site on average. Nowadays there’s endless little bits of production that the business uses another business’ software or services or whatever so there there’s maybe a 3% gain in productivity, but now you have to deal with infinite business selling services to other businesses and when it finally gets down to all the involvement to produce an actual product, it’s a completely unnecessary clusterf^(k so that the people at the very top can get more money. WOW. Such innovation. I’ll take a freeze on computer power or whatever else if I could just get more in pay. And to think that economists a century ago thought we’d be working fewer hours and enjoying our leisure time. Ha! We’re not the ones in charge!
Interesting. Yeah why do we need to 'disrupt'? Can't we just do better? Food for thought...
My parents already had the house and kids when they were my age. It’s crazy, I just turned 25 and I feel like a piece of shit
Why? The economy during their time was better. You could raise a family just working for home depot in the 90s. It's no longer the same economy. The older generation has completely failed our youth.
Millennial here and I can absolutely relate to what Gen Z have to go through as I went back to college right before the 08' recession. I was working to just pay rent and bills and then in the summer working 72 hours for nearly a whole month just to make up half of tuition for the next year. I remember after a few weeks of that, just going up to the manager as my third shift was about to start and going something like... "Hey man, I have to leave. " I was so spaced out from constantly working that I didn't even realise I was burnt out.
Even before that, at the start it was hard even trying to find even minimum wage jobs as they wouldn't take me on for whatever reason and barely had enough food to eat and even passed out once. Working non-stop only to see others who had the luxury of living at home complaining about having to study for just 3 months and exams and how they couldn't just wait to go on holidays after that. Ah life. Hope things pick up for everyone.
The YOLO attitude is only because these people have nothing to lose.
Then they should fight back.
Against what or whom? At least under communism, there was the party to fight against and freedom to win. Now we're all just floating with the market in a valueless sea of apathy where there's really nothing to fight for or against.
@@anonmouse15 Won't have a choice really.
@Yeeto767 gotta vote. Turnout this year was back to 2016 levels. Proporttionately less 18-29 voted in 2024 despite a growing demographic.
So all this tells me is thst old angry people are getting out but GenZ isn't desper enough to do the same. Or they are manipulated into not voting.
@@raze2012_ democrats failed to show why gen z should believe in them. right now young people know neither party represents their best interest.
It's almost as if "line must go up" won't work infinitely. Almost as if in order to have a few "winners", you need a lot more "losers".
That's not how it works. Wealth can be created without taking it from someone. You don't need losers to be a winner. Part of the problem is that people like you don't understand this.
Technically the nation can lose in numbers, but still gain in economic capacity and outcome.
The problem is that the rich would not be as rich in the future if that happened and those with money interests dont like that.
USA is not capitalism. It is more siphon economics or corporatism. Meaning the US treasury and government is increasing the bottom line of big companies at the cost of the nation and citizens rather than business being allowed access to workers, infrastructure etc via aiding the nation.
This is outright fallacious thinking. In the 1990s, when the US was experiencing an economic boom, all wealth levels were getting richer. The economy isn't zero sum.
@@Pan_Z 1. That was 3 decades ago. Near the dawn of the upward shift of inequality in America. 2. It's literally zero sum. Relatively at least. And everything is relative. Let's start by closing the system. Let's say just for the United States. Let's then define our resources. Let's say it's all the Earth's resources. The Earth is finite. Let's say that the standard of living somehow, I dunno, ends up being something that is at a point that exceeds the Earth's resources, just as a little fantasy thought experiment. If one person wants something, like an apple, but 333 million other people want an apple, but only 300 million apples get produced, then that apple, that finite resource, by being purchased, has become a zero sum. Scarcity. Which is the most fundamental principle of economics. If the supply is being absorbed at a rate faster than growth at the exclusion of some people. That's scarcity. That's zero sum. 1% of the nation's people own 30% of its wealth. What makes those people money doesn't necessarily make the rest of that 99% money. The people who have more concentrated power and resources have the best influence. The growth of the pie is then influenced by what the winners determine is in their best interest for continuing to win. Relatively speaking, it's inherently/naturally zero sum. It can be MADE to not be that way, but it would take money and effort. And way more money and effort is being dumped into making it not be that way.
@@Lobos222 Lmao how is that not capitalism? Corporations influencing politics is the name of the game; it’s a tale as old as capitalism itself. Any “regulations” implemented by so-called policymakers are bound to be insufficient when capitalists are the ones okaying them.
"Technology will even they playing field"
They should reverse that statement for businesses too. They can outsource their labour for cheaper... It isn't leveling the playing field. It's widening the gap.