GenZ DOOMED As Debt Crisis Mounts
ฝัง
- เผยแพร่เมื่อ 30 พ.ค. 2024
- Ryan and Emily discuss new data on the debt crisis mounting for GenZ.
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I do not believe FOR A SECOND that a third or gen z are homeowners!
Yeah, that's blatantly ridiculous.
I can barely afford my rent 😭
If they are, it's due to inheritance, but even in that case that's unbelievable. Where are these people???
Some are, the crypto bros crowd. I know a couple.
Only if they inherit one.
I don’t know a single person from my hometown that got married, had kids, and bought a house that also didn’t inherit their home, or got a huge gift from their parents and/or work for their parents’ business.
That is the tradition, you inherit from your parents after taking care of those same parents in they old age (and Grandparents tend to be first parent's choice of babysitters).
I did exactly this. Although, I settled with a woman who’s 10 years older. So, that helped, a lot 😂
@@aaronhrynykI married a man who is 16 yrs older, so he was settled in his career and ready to have kids while I was still fertile. Best of all worlds IMO.
Basically everyone I know is living in their grandparents who died homes or their wealthy parents/grandparents put down a 60,000 dollar down payment for them. I'm planning on buying a few acres and putting a double wide on it. I've accepted it.
Who are all these people writing these replies? Liberal art school graduates???
Jobs don’t equal a great economy. Slaves had jobs.
Increasing standards of living is what constitutes a good economy. The majority of the country (all generations) are seeing their standards of living decrease. Especially if you don’t own a home.
Bingo!
Agree other than slaves. Slaves had no choice and were abused and killed. Let's not be a drama queen
According to NBA players, they slaves lol
When unemployment was high, everyone was like there were no jobs. When it's low, it doesn't mean anything.
What I learned over the last 15 years is that people never stop crying on the Internet.
@RealShaktimaan considering the wages are stagnant or declining for the last 40+ years. And quality of life is declining for 40+ years. When exactly would you expect to see enthusiasm?
Stop buying avocado toast and Starbucks…. Says the 1%
An entire avocado costs $0.99 and toast is about $0.25.
That was one article 10 years ago and you are still going on about it.
Starbucks is on the BDS list, so at least we can help out there.
Hey, I mean, I have been cutting back on Starbucks so....
@@koolkat9214 I went into Starbucks last month and I found out I had a $2 credit from last time I was there. 10 years earlier.
This was a very confusing segment. The economist says gen z is doing great, but they’re drowning in debt, but that’s okay because they’re so rich. But that’s obviously going to stop, or not, but maybe.
Exactly that's exactly what I was going to write. And what's perplexing is that they didn't even really seemed to acknowledge that contradiction
Don't come to Breaking Points for sound economics, they never make sense here.
Let's not forget this show loves MMT.
The economists also says theres no inflation haha
Ummmmmm....it was actually very clear that he was quoting an article from another publication. You should learn to listen 🤦🏾♂️
I'm trying to figure out the one third of twenty five year olds that are already home owners. This is the worst housing market ever and even the best of times one third of twenty five year olds owning a home would seem to be a ridiculously high number. And then they are talking about luxury spending by the other two thirds that don't own a home and who all have jobs, but the jobs, apparently, have no future,
The biggest info about this story, to me, is, in this day and age of crappy jobs, high inflation and ridiculously high housing costs, how are one third of Gen-Zers affording homes? What am I missing?
Gen xer here. Here is the number one problem let's stop calling price gouging inflation. College shouldn't cost 100 grand. Car insurance shouldn't cost $800 a month. Rent shouldn't be 2 grand a month. It is outrageous, and unacceptable how much the basics cost in America as a person who came up in the 90s I wouldn't be able to survive starting life off today with the prices. Young folk I am not calling for pitch folks, and torches lol, but you all got fight so you can have a future
Yeah, I'm about ready for the pitchforks and torches...
I wouldn't pay that. I'd be forced to get a clunker.
gen zers are learning to live in vans & cars, living w/ parents until 30s .. maybe that's their way of fighting?
It’s supply and demand
@@PriestessKikyo1im with you
Gen Z was brought up thinking money and credit are the same thing. That's very dangerous.
Funny i dont qualify for a 1500 a month mortgage but qualify to rent at 2300
that sucks
Who in the actual hell are these companies surveying.
This is what class warfare looks like. We live in a corrupt oligarchy. We need ranked-choice voting, ballot access, and more parties.
Oligarchy? That became a Corporatocracy or if you like a monopoly. Maybe voters can stop electing these goons but it's not looking that way
If the oligarchs are still around, that won’t change much
And I would just add fair taxation for the ridiculously wealthy. 👍👍👍
We’ll never get RCV until we start electing a few leftist 3rd party candidates to congress. The duopoly won’t give up their stranglehold on elections as long as they know they can control voters using fear. “Vote for Democrats because Republicans are bad. Be afraid.” Even though when Democrats get elected, we still get right wing policies anyway.
Elect a couple of left3rd party candidates, that’ll terrify the duopoly to enact RCV to try to protect their own seats.
@TrevorMauk Says the corporate tool/bootlicker.
We need more investment in infrastructure, not the war machine.
We need to stop investing money we don't have. The FED endlessly printing money beyond what taxation is bringing in is what got us into this mess. It doesn't matter whether that money is being spent on infrastructure or war. It's more than we have either way
That "war machine" is the only reason you're not speaking German and communism hasn't taken over the world. National defense is one of the only legitimate functions of a federal government. I'd rather pay for tanks, jets, and weapons than illegals, DEI, foreign handouts, & the salary of government henchmen.
vote for biden, whos top donors are the war machine, im sure you will get this done.
Really.. But how many times you VOTED?? 😂😂😂
The war machine is what keeps your dollar strong.
As a older person this concerns me and really bugs me. All you have to do is around and talk to people.. It's not looking good
as a boomer father of three millenials, i see clearly how far removed the american dream is from them though it worked for me going back only about 40 years. after college and six years of enjoying myself at low wages, i finally went to tech school and got a programming certificate and was able to do all the things people want (car, homes, marriage, children, pets, health care, food on the table, 3 student trips to Germany, vacations, college for the kids, and still saved a lot for retirement). Now, things don't look so good anymore. I'm limiting myself to my social security income plus a couple other small sources and trying to maximize the amount I'll be able to pass on to my children.
Were all fucked lol
35 yr old millenial here
41-year-old millennial here.. correct!
This is the most accurate comment. Unless you stand to inherit your parents wealth you're fucked.
Yeah. Even if I was able to put $2,000 into savings every month, it would take me over 3 years to afford the down payment for an average home. Even then I don't make enough to get approved for the loan. So many people are disconnected from the actual numbers.
@@TheMr02dropEven if you do they better be loaded and have no siblings. 😅
@@davida730I'm 39 and know exactly 0 people saving anywhere near 2k a month.
I think economic analysts consider groceries a “luxury”.
We got a lot of money to fix the problem, but the government chooses not to. But don't have a problem giving funds to other countries.
And to the local defense contractors. Every arm that is shipped is basically tax dollars laundered into Raytheon, et al. meanwhile, those same government workers have stocks and revolving doors with those same conglomerates. it's all whack.
Lots of money? Were 25 Trillion in debt and gas is 4 bucks a gallon. What the hell are you talking about?
@@luchacefox259 We increase the military budget every time a new president come into office. So, we do have a lot of money in this country.
Really.. Let's not worry about how much you owe from the $34 trillions debt.. 💵💵😄😄😄
@@tiredox3788of course the Federal Reserve GODS got lots of fiat 💵💵💵 that your masters can borrow from for you to pay later.. 💯💯😄😄😄
Basically GenZ is doom spending. They gave up on life. If you know you can never get ahead, why work hard and climb the socioeconomic ladder. Just enjoy the present life
That literally describes about 50% of the country. NOT just GenZ; I know old people on disability who are straight up suicidal.
It's all part of the plan, "You will own nothing and be happy". You will own nothing because it's too expensive and you will be happy because you are blowing your money on whatever makes you happy in the moment to cope with the feelings of depression from knowing that even if you try you will likely never own anything anyway. It's profitable for the corporations running the country but a sad existence for the rest of us. We will be nothing more that slaves to their system they designed to make themselves richer and richer. Politicians and corporations don't give a crap about people as long as they have all the power and increasingly massive bank accounts
Sounds like such a good solution. You’re in debt so spend a bunch of money. Wow.
@@ArcherNews-ch7yn There’s always at least one like you… Don’t ever expect sympathy from another human. You’re not worthy of anyone’s concern either, if you can’t muster an ounce of decency at times like this
@@myhaikaratesmellstillrocks6823 you a liberal arts graduate?
Telling a whole generation they're doomed is a great idea
Telling the truth is necessary. Purposely gaslighting on existential issues is plain, old dishonesty. 🤷♂
@@myhaikaratesmellstillrocks6823 Except there is no "generation" that is doomed. Plenty of zoomers will come through. Choices are everything in life...something only your parents can usually teach. Plenty of people from all generations made bad choices and dealt with the outcomes. There is a strong victimhood narrative constantly being pushed to the young - to constantly see yourself as an oppressed victim. The ones that see through that and make good choices will be ok.
@@mr.kilpatrick2991 It's not a victimhood narrative. Young people are seeing now how completely corrupt their leaders are and that the American dream is nearly dead. What is minimum wage again? SOME will be fine... but less and less than generations before them.
Every single generational comparison I see completely forgets gen x exists
I tutored Gen Z students during the pandemic. They were either hopeless or entitled. It speaks to the extreme polarization and the shattered illusion of meritocracy. I wonder if one day they will turn on each other.
which subjects??
Millennials weren't the ones using Uber. They were the ones /driving/ Uber. Cuz there were no jobs.
Boomer brains still think millennials are in college
I don't have an unbiased perspective on this, but I have some millienal neighbours and they get Uber Eats delivered to their home almost every second night, since the start of the pandemic. I know due to how often they accidentally deliver to our home.
@@ryanbudney3356 How do you even know they have plates and silverware? How do you know they don't eat 1 meal a day? Every anecdote like these just reveals what your predetermined opinion was to begin with. We get the drift; eating take-out means you're 'entitled'... but you don't know that at all.
@@myhaikaratesmellstillrocks6823 I know my neighbours. I've been in their house. I talk with them and their parents, pretty regularly. That's how I know.
@@ryanbudney3356 Sounds like you have a personal dislike for their choices... and it's none of your business, is it? Nobody likes a nosy, back-stabbing neighbor, ya know.
In Canada the RCMP released a report that essentially said that declining living standards will result in extremist and revolutionary elements emerging in our society. They are right
"Incert comments about how no one wants to work anymore" woking but not being able to aford literally anything is getting pretty close to slavery.
The payoff for working is about 10% of what it used to be for The Great Generation.
So if you worked like how most Americans did as this country was built. Working 12 hours a day on the farm living in poverty just hoping to feed your family who are you a slave too?
@@mrt094 no one. That's literally the dream. Of course that scenario doesn't exist without the bank owning your farm at a proxe way higher then its worth. So I'm that case your still a slave to the bank because you'll likely never pay that loan back.
My son can't get a job outside of shitty restaurant work. He is a native English speaker totally fluent reading, writing and speaking German and can speak a half dozen other languages including Korean, Mandarin, and Nepali. He has a degree in biology. He received his 4th degree black belt in TKD this year which is as early as he could considering his age. He is going to move to Nepal because there's more opportunity for him in Nepal than in the US. In Nepal he taught German, English, Biology, and coached TKD and they paid him well (although he donated his wages back, you can live well in Nepal for 5-10K a year) and were genuinely appreciative of his work. Nepal. Considered a 3rd world country by many. It's better than here. Whatever measures we use for unemployment are incorrect and broken beyond belief.
thought i just heard Nepal is the poorest country in the entire world. yet it offers more opportunity than america. you raised a compassionate child. the only person i ever knew from Nepal was one of the nicest and most dedicated people I've met.
Housing is the biggest issue for me, hard to save up when my share of rent is over a grand a month, I don’t ever eat out and meal prep and still costs $75/ week for food.
Same, thats why Im voting for RFK Jr. I have no faith in Biden or Trump to lower the price of homes.
@jer1776 the sad truth is that RFK wont achieve lower home prices either. The damage is done. Thank your government and the FED for printing trillions out of thin air over the last 4 years. Prices are up because the value of the US Dollar is declining as more funny money is printed. Those in power are doing this on purpose. They know exactly what they are doing.
Rent control has to happen, it needs to be treated as serious as the right to own a gun
@@z-rossi3672 don’t need rent control. We need to put a wealth tax on people who own more than a certain number of properties. Like once you have 5 houses then you have to pay a ridiculous tax bill on each additional home. Then ban corporations from purchasing single family homes. That will eliminate the rapid inflation on purchasing homes and make it so being a landlord is no longer a viable business.
Then bolster the federal assistance on home loans and remove mortgage insurance fees for low income people. If you have proven you can pay rent at a certain level for a few years then you qualify for a zero down loan without PMI at that same level as your rent was.
If only black rock didn’t own literally every politician. Or if we could vote for people that actually wanted to help, but the DNC and RNC won’t allow opposition as evident by the election tampering we’ve been seeing over the last few cycles.
My rent has gone up $400 in the last 4 years and I'm one of the lucky ones compared to most people I've talked to. Absurd that a place can up rent prices that much and you don't have a choice because everyone is doing it.
A lot of Americans will have the “Remington retirement” plans.
Retirement on my terms. I like it
better than lingering on for the last second.
😂
How'd you knowwwwww🥺🥺🥺
@@jamesbyrd3740what's stopping you right now?? 😂😂😂
All by design. I feel for gen z!
25 and filing bankruptcy i love this country so much ❤
What happened?
She graduated from a liberal arts college
thank genocide joe for ensuring you'd never get out from under any student loans
Im 23. We don’t remember 9/11. The 08 recession is a visceral memory for us bruh
😊
Bro I've remember both it's like I've been in 2 world wars
How much debt do you currently carry? And what do you pay a month towards it? Bruh....
@@skontheroad none cuz i wasnt as stupid to take a credit card when i got an offer in the mail like im guessing you were at 18. And u don’t pay more than 1000 in rent. Idk how your generation let that stupidity happen
Wait until you experience double digit unemployment market with no job experience. 2008-09 was the economic equivalent to the pandemic. I really hope no one else has to go through that, but sadly prob not
The average American today (and any Euro for that matter) is orders of magnitude more poorer then previous generations. Think about it, the entire muscle car boom of the 1960's was driven by the youth market. Auto Executives realized that 16-17 year old's buying new cars wanted to have fast cars with lots of power. Most muscle cars were bought by people under 25. Anything older then that thought they were gimmicky and impractical. America was SO prosperous in the 1960's that a 16 or 17 year old could work for a minimum wage 40 hours a week for a 3 months during the summer and have enough money to buy a brand new muscle car like a Camaro, Charger, Mustang or GTO. That was the life boomers lived. A few months of waging was enough to buy a brand new car that was very cool and fast. the entire auto industry had to change factories and production and logistics because of the immense buying power of literal fucking teenagers.
Can you imagine that today? Can you image if people under 24 made so much money and spent so much money that massive fucking industries like the automotive industry would change their entire strategies, multimillion dollar CEOs would attending business meetings of the highest degrees to formulate a new plan going forward because of this new founded market demand? its unfathomable . Most young people today can barely afford a used car, let alone something brand new.
Bro. Stop acting like you have to live exactly like a boomer. Times have changed. Adapt. We also have things they didn't have.
@@WillieFungo Why are you constantly telling other grown people what to do? Did you wake up today, put on those glasses, and suddenly think you were in charge of stuff? Bro has a little bit of $$$ and now he thinks he's your Uncle Tom.
Gen X Canadian here ... my dad said he paid for his university with the money he saved from his paper route. Even back in the 1980's that sounded crazy to me.
This is simply disingenuous. Minimum wage in 1965 was $1.25 and the cost of a new car was about $2425. That's 49 weeks of work at minimum wage... assuming you paid zero taxes and had no other expenses at all.
@@MikePSU The cost was living was simply lower. it just costs more to live in america then it did 50 years ago.
Rent is also astronomical, we have more bills to pay, health insurance has become necessary (that's novel to the times), taxes which fail to improve our condition, and there's also more shit to keep up with. A lot of stuff is cost-engineered with an optimized "bathtub lifecycle" so you can expect to be making purchases more frequently because reliability is not a priority for manufacturers.
So while you can surmise that it's "only" 40 weeks, that's blatantly incorrect. Once you factor in real life that cash to put a down payment on ANY car takes a lot longer to accrue. And you're also considering sticker MSRP, which is also wrong, there's also interest and the full-coverage insurance, and lest we forget the maintenance costs which are subject to inflation. It's also a depreciating commodity - of course as of late this hasn't been the case and in some completely backwards response the used car market has mindbogglingly kept in line with MSRP which is fucking insane and makes the purchase of a car even more obscene.
Regardless you missed the point and that was that a dipshit kid could afford a Mustang, period. the fact that a 17 year old can work for a summer and put a down payment on a brand new sports car is simply absurd and impossible to replicate today.
Walk into your house, the faucet is overflowing, the floor is wet, there's a bucket & mop in the corner. What do you do first? You turn off the freaking faucet.
College tuition inflation is unbelieveable. All the pundits and politicians I see whinging about student loan debt never find it in their hearts to care about the root cause. Rather sus.
Exactly, Andrew Yang of all people open my eyes to that. Often the solution that gets thrown around is "Free college" rather than let's make college affordable again.
As Gen Z, I lived at home and my parents took 50% of my income for 7 years each payslip. Then they told me they had saved it all and I should buy a house. I still save 50%. I have an investment property. Still living at home or working 4 months in other cities
Kudos to your parents.
It seems that every single product sold now has financing options. Even the smallest purchases the company tries to push financing. Such a scam
Every store has a credit card and dangles 1-year 0 interest financing like a carrot.
I see purchases of like $50 or less being offered on payment plans. I don’t think they even charge interest, it’s just crazy to me on such a small purchase.
why does Uber need a huge tech campus building but their drivers are all pinching pennies
I few years ago, I asked a guy in his 80s if he thought a smartphone was a luxury. He said, yes. I had to explain to him, that you literally can't apply for a lot of jobs without one. There is no walk in application in some places.
Yeah, where I work we do not accept in person applications. You have to apply online.
That doesn’t mean you need a phone.
I mean I agree a cell phone is basically a necessity but you don’t need a phone for applying online.
@@HappinessDIY I would disagree. In some cases, going to a public library or even a Kinkos may not be feasible or even secure. I think it depends. Of course, more and more younger people are less likely to own computing devices outside of their phones, making a smartphone vital.
@@josephmassaro Like I said, I think a phone is vital, I am just being pedantic and saying it isn't necessary for applications. Libraries and kinkos are options. Wait, does Kinkos even exist anymore? But anyway, I was just saying there are other ways. There are $99 laptops and $60 tablets out there, for example.
And I think those Obamaphones are still out there somewhere.
Yeah, anyone over 65 is living in another universe. If they have a pension, they don't even know what an app is.
The proper etiquette, when you sneeze, if there are any people, within your potential spray range, is to cover all respiratory outlets, and say "covid".
Yeah, next they'll start crying and begging for the government to cancel all this debt too instead of living up to their obligations,that they voluntarily took on.
Often I feel the bus already went off the cliff but people haven't felt the free fall kick in. People aren't noticing because it's all falling together.
Like Wile E. Coyote floating in mid air until he looks down.
This is 100% the case. Government spending isn't slowing down, National debt will increase, inflation will increase. The dollar is never coming back. Wages will not match and they're chomping at the bit to replace many workers with AI ASAP. Let's see how this goes.
I’ve been waiting for the bottom to fall out for years now. It was delayed by all the money blown into the economy during Covid and before, but it’s ultimately going to make it worse when the inevitable happens.
Think of a narrative, and someone will find you statistics backing it up. If they can't find it, they'll make it for you.
Stop canceling student debt. Stop letting credit card debt go so high relative to income. Problems solved.
I’m gen z and have managed my debt very well. I just don’t pay taxes 😊 conscious is pretty clean too
based
Ummm....
Your NSA agent is going to have a word with the IRS..
My man 👊.
Best of luck buddy
I have no clue what Grimm is taking about. Uber Eats is making GenZ rich? 0 interest for a 16Y old?
As a old guy(61), we have not done much to help young people.
If you don’t vote red or blue. The parties have no power. C’mon people step outside the circus on Election Day
in 1985 I was 11 years old.
i worked at a dog kennel making $85 a week.
that is $248.00 in today’s money!!!
Did the dog take care of your needs?
Let's also add the amount of debt that the federal govt is piling on this generation and generations to come. It's going to crash at some point.
Gov debt increases for every generation, it always has. We’ve been hearing for 40 years it’ll crash soon but feds always have deficits. What’s different now is personal debt, specifically credit card debt.
If the government crashes, it brings the whole system down with it, so the elites simply won't let it crash, while still fear mongering to the rest of us that it may
Gen Z should start listening to Dave Ramsey.
They're so comfortable and cute together.
Boomers ran out of things to blame millennials for they’re now moving on to gen z for their complaints
"get on your bike / cook ". Life came and bit you in the ass.
Wow. Giving women credit cards has been a great idea...for the banks.
Consumer debt is foolish. Lower your standard of living as much as necessary to avoid it.
"Old man yelling at cloud." I love you both. You're a great team.
I am an older white male millennial who is turning 40 this year. I still live at home with parents because I can’t afford to move out and I graduate with my bachelor is finally at 35 when the pandemic hit in spring of 2020 and I applied for every part-time position that I was looking to get into with my degree and no one wanted to hire me at all because they were looking for experience and it’s the same catch 22. How do you get a job experience and experience without a job. Once one of my family members retires hopefully we can all afford to move to Phoenix, Arizona, and I could be able to find a good paying job to be able to finance be able to move out into a small house
What's your degree in?
@@mrt094 I got my degree in agriculture business because California being an agriculture state and I wanted something different than business administration. The area I live in of California is also very republican and rural. What I should have done was got my degree in history and in accounting.
YAYYY!!! Something not about Israel❤️❤️ Didn't know Breaking Points cared about anything else
Its kind of a big deal but i get it
Haha. Well that goes to show how much you know about how your economy works.
I encourage you to look up how the american ponzi scheme works.
Long story short, if you have a credit score, you are a debt slave to the owners. Who are the owners? Who owns the banks, bonds, stock market, and who runs the federal reserve.
There's a reason your government and the entire western hemisphere does Israel's bidding.
@@firewall56 It definitely is a huge deal, but man... It seems like it's 80-90% of the segments. They've (Krystal) have talked about it so much I am to the point I do not care anymore.
@@chandlerdutton6033 well isn't that great to not care about the ethnic cleansing and genocide of a people. I get it but you understand it's because it keeps happening and nothing's changing and there's constantly news developing every hour
Find someone who looks at you the way Emily talks about economics
I'm 25 and co-own a home in metro Detroit and work for local government full time. Between my student loans, utilities, mortgage, groceries, and gas I lose more money each month than I make. I had to pay $2600 to fix my 2006 car last week and it almost ruined me.
As a member of GenZ why would I not travel over saving 150k for a down payment on a house?
What?
Where are you going to live?
@@Alloytribe86 airport
Because in 10 years you're going to complain that the system is rigged and it's not fair that some people who worked hard, saved, delayed gratification, and bought a house are living comfortably. You will demand "equality" and that they give up some of their wealth so that you can continue to spend foolishly.
@@Alloytribe86probably where he is now goofy
I want to add to "Whether or not this is wise spending is another question."
I think of work boot theory. You only have $50 to spend on work boots, but they only last a year, or you have enough to spend $300, and they last 10 years. After 10 years, you will have spent $500 on boots if you're poor, and $300 if you're wealthy.
I use delivery apps more because I sold my car to save money. Of course it was wiser to keep the car, and of course I DIDN'T WANT to sell my car, but I didn't have the week to week budget to keep it.
So, we replace long-term investment for reactionary survival. Why? Because who cares how much money I'll have in 10 years if I'm going to be homeless in 5? Oh, but maybe you can turn your life around if you pinch every penny, and essentially turn your life into a meaningless stasis. Except that may not work either because they also say "live below your means" as though survival itself isn't above my means.
You are trading your present and life for a future that IS not guaranteed. Not only is it not guaranteed, recent history shows it's been increasingly likely that things WILL NOT BE OK, and more and more millionaires continue to iv drip the dimes to pinch from our wallet.
It doesn't even feel like a choice between "live life and be broke" or "save now so you can live later" anymore.
It feels like "live life now and always be broke" or "save now, don't live, and die broke anyway." Like a treadmill that gets faster as you age, and they are already coming for social security.
At least when you're living, you have the spirit to continue surviving.
Ps if I had the money, i wouldn't have to stop therapy every couple of months to focus my money on other necessities, and I would have consistent help and support in finding healthier ways to spend and save money. Yet again, CEOs need to charge for that extra bbq sauce now so they don't go bankrupt, which is code for record-breaking profits.
Ryan and Emily have great chemistry! Love it!!
I grew up decades before this Gen Z stuff. I wasn't making much money and rode a bicycle, having no car. I'd ride to the grocery store with a backpack, fill it up, and ride home. I hope young folk realize they're victimized by all these apps and work to take control of their lives back by not spending so much on fringe stuff.
In what world do people rely on Uber eats for food. Unless u grocery shopping that makes no sense to me
A big one. That is how it is worth Billions.
@@skontheroad nah man there's a difference between "RELYING" on an app for food and using it because its convenient. I think its a stretch to say they are relying on it as opposed to just using it. especially given the fact that it is signifigantly more expensive to order a burger on there than it is to simply go pick it up like at minimum 15 extra dollars more
I met someone that doesn't own a car and relies on some food delivery app 3 - 5 times per day
It generates ungodly amounts of trash
Some disabled people used companies like Uber for groceries, but for the rest, they got addicted to the convenience.
@@nperegri i am disabled and I have used it for that, which is why i made the exception for grocery shopping in my original statement. Everything else just sounds far fetched but if there are comments like yours and the other gentleman's then maybe its not so far outside of reality for people
Thanks biden. Student debt unaffordable housing and higher taxes!
All bigger problems before he was president
@luodeligesi7238 housing cost way more now. You are smoking Crack if you don't get that. The average rent is 40% higher look it up
All presidents, including Biden, since FDR and arguably LBJ have been partly responsible for this.
They all work for the same people.
@@luodeligesi7238 But he's no longer even proposing anything to alleviate them, so his point is 100% still solid. 🤷♂
Uber eats is a luxury expense.
I don’t think the Uber and Uber Eats costs more thread was a great example of a generation getting hosed.
The Baby Boomers bill is coming due and they are just about ready to start checking out! Time to cover the bill younglings!
The baby boomers didn’t pay their bill they just got it handed to them on a platter
Do you know who Baby Boomers are?? What age group? And how old are you, just for perspective?@@DankasorusRex
Ridiculous posts
EVERYTHING I buy or own with the exception of my mortgage is paid for in cash. If I can't afford it I don't buy it.... period
@@skontheroad baby boomers are post ww2 babies up until the mid 60’s. When they went to college it was around 15x cheaper than it is today, housing was even less. I’m old enough to have a degree in economics and understand that times are much much harder than they were back in their day.
I also understand that due to their increased population relative to the generations around them they had the voting power to implement policies specific to their interests and age group over time. I know that they refuse to retire and take everything they had for granted and don’t want to help their own children the way they were helped their entire lives.
How old are you? Do you understand how economics and policy works? Have you done any research into this, or just think people with a different viewpoint than your narcissistic one must be young, dumb and irrelevant?
Yeah no shit. A few years back, they were new college grads that were in student loan forbearance and rent moratoriums. Spending that time buying property and travelling. Begging to go back to the office to hobnob with the boss. World by the ass. That's not where we are now. They arent doing tiktok challenges anymore. They are struggling with bills and cost of living like the rest of us. They are adults now with adult problems just like the rest of us. Gen Alpha is the new dork around generation and we are going to say the same thing about them when nothing actually gets better.
I'm in debt, I need a $ 1200.00 phone.
In March and April 2020 at the beginning of Covid, I remember telling my wife that this generation should just be called the "Covid Kids" because their whole lives will be screwed up as a result of the school closures. Yeah, that was 49 months ago.
I was 36 in March and April of 2020
As a 47 year old, there are plenty of things I sympathy with for younger generations. Not being able to afford Uber eats isn’t one of them.
Don't spend/borrow money you don't have or don't intend on paying back.
Wow. What a tone deaf response. What a tremendously ignorant response
Wow. Such great advice! Except the necessities are now the largest chunk of my expenses. I walk away with 2600 a month after taxes and my housing, food, utilities, transportation, yada yada, set me back 1900. I have to make retirement, student debt, car repairs, medical bills, entertainment, dates, gifts, etc. fit into what's left. I'll be lucky if I'm able to put 150 into my savings at the end of the month.
Exactly! THAT is what honest people do! Same concept with those who file chap 11 (bankruptcy).
@will0ughby And that means you should only purchase things you intend to pay for! Swiping your card with no intention of paying is not only illegal, but terribly immoral!
@@skontheroad you sound like you care a great deal about the mega corporations and landlord monopolies. Society is set up to benefit the individuals. Once that's no longer a priority people will care less and less about how the shareholders of City Group are doing.
Gen Z homeowners? Oldest gen z individuals are 27. If that many 27 year olds and younger own homes I’d be amazed. When has that been normal.
I’ve never had any debt because I’m not an idiot.
Loved Emily's take on this. She's a keeper.
Her and Saagar should start their own show.
Ryan should go down the rabbit hole of Uber destroying truly affordable and regulated cab services in America
Not affordable and a dirty, terrible experience. Cabs drove themselves out of business.
That sneeze was so professional and shouldn’t have been edited out.
lol 😂
Are they paying their credit card bills in full though?
Meanwhile I see a new tictok every day telling me how oppressive the 40 hour work week is 😅😂
Yes, because add in 2 Hours a Day getting Ready and getting back and forth to Work, add in Mandatory Overtime and just the drudgery of the Modern Work Place and it is a serious drain on your Life. Believe Me I am retired and don't miss it one bit. 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣what are you some kind of Fascist Prick?
Right?! I know it’s a boomer take (I’m not a boomer), but I’ve always thought 40 hours wasn’t that much. I grew up doing rough physical work with my father though. But now I’m 38, own a home, and don’t have to work so much anymore. I feel mixed between wanting to tell a young 20 something to enjoy those years and also wanting to tell them to work their asses off when they’re young because the older I get, the less I want to work that hard anymore.
No sympathy for those in Dept for dumb college majors
*debt
@@aaroncrandal you mean it doesn't take a capitalized first letter and it's not a p? Amazing skills
NONE!!
"Know sympathy for those in debt for dumb college majors." ifify :)
@@simonb4689 no sympathy for chumps that can't spell?
It's worth noting that when boomers were in their Gen-Z age range, credit cards were much harder to acquire and it was mostly a cash/check economy, which almost totally explains the lower boomer credit card debt.
Excellent point
bless you
How the hell is Uber broke if they take half of the fee for a ride?
I believe they take 25% of every ride, but they were losing billions every year for almost their entire existence. They spend most of their money on growth, advertising, new driver sign up bonuses, free or discounted rides to new users, etc. operating at a loss to try to squash any competitors. But it does seem hard to believe that they lost that much money while essentially just offering the platform and leaving all other costs to the drivers and users.
@@michaelj6392 for short trips where I live I know the drivers only get half what I pay. I’ve confirmed it with a few. I pay 11$ for my rides and the drivers accept offers on their end of around 5$.
For almost all of human history women have been the responsibility of either their father or their husband. Theyre used to always having someone to bail them out of every situation. Women wanted the responsibilities of men without realizing men are held accountable for their actions.
Sorry, I am interested in your comment, but it's a little unclear to me. When did women start wanting the same responsibilities of men?
And I actually have to ask this question-- straight women who married straight men and had a baby (together?)?
Man I deleted Uber Eats because the prices became f--ing absurd.
So are they drowning in debt or doing ok? I mean drowning in debt doesn’t sound great.
Cook your own food at home.
The problem with these kids is they live beyond their means. What are they doing? All this whining, I want to eat food, I want a phone (fancy living), I need a car so I can get to things (OK, my lord). I haven’t eaten or called someone in years and I have a paid off yadayada. In my day we walked 5,000 miles to work with one shoe, couldn’t afford 2. 1 shoe on 1 foot for half the commute switched to the other foot on the way home. Kids these days smh.
I’m 48. I have no car, make $80,000 a year and live off of under $1500 a month. It really isn’t hard at all. People just don’t want to no matter what you whine.
My rent for a 1b is $1823. How do you get by with $1500 a month?
@@peterroberts4415 I choose better. I live in a low cost of living area and see no point in a 1br for myself. So I rent a studio for $700, work remote, spend about $100 a week on groceries and eat at home most days and have a few hundred left over for other things. I can go extreme and probably survive on $1000 but I’m not that hardcore.
And I’ll pay cash for a house in a few years because of it.
There’s no denying we’ve normalized luxuries in everyday life.
The house I bought in 2019 for $120 k is now appraised for $220 k. But inflation is said to be at 3%? How are people supposed to buy a house now? Also interest rates in 2019 were around 3%. Things are really messed up now.
People used to think picking up a random stranger in your car was dangerous, they were called hitchhikers.
Now it's called Uber.
On the docuseries about the founding of Uber, they showed how Brazil it still is extremely dangerous. I'm shocked that these crimes don't happen more often.
Yet they can afford "fur babies" and Taylor Swift tickets.
"What yu'all Gen-Z..." Good God speak English, you're an adult.
Hard work wins
Well according to Krystal it all doesnt matter because we have people in Gaza dying all over this Israel stuff. So no one needs to care about this until we have complete peace everywhere.
You don't have to support Gaza. Gaza could dissapear for all I care.There is just no justifiable reason for why America is sending billions to subsidize Israel. That is our tax money, and it should be used here. The only reason Israel is acting as it is, is because our government is backing them at every turn, instead of fixing issues at home. I don't understand why the older generations can't see why our resources being spent elsewhere is a problem.
Late-stage feminism.
Gen Z is doomed!
The full-time job market is shrinking. Gen z will feel the pain soon enough.
30 year old here! Instead of getting a masters degree I decided to open up a roofing company. Best decision I ever made! I’m glad I work part time as a roofer.
I started my business about five years ago. I have already purchased my home, and I’ve already purchased a commercial property to run my business.
The American dream is very much alive!
I can identify; I can also keep from being so empty that I have to brag about everything that I've obtained. Everything you just said shows that your ONLY concern in the entire world is just you. 🤷♂Don't even bother seeing how the rest of the country lives; we don't need you either.
Nobody is doomed. We need to stop pushing that narrative on people so relentlessly, it's self-fulfilling.
Are you kidding? Plenty of people are doomed, ignoring it won't stop it from happening. 😂
@@luchacefox259 People have agency. We need to start reminding them of that, and that it's both their responsibility and within their power to exercise it.
When “Food Delivery” is the reason for your high credit card debt… hits so close to home. I don’t spend really on anything else
Well, at least we the poor don't have to ever worry and loose sleep over whether or not the military and our proxy war partners will be properly funded.