and why do you think men are where they are at? We lied to them saying they need six figures, need to be six feet tall, have the biggest house and car, etc. maybe let's get back to what the dream was about not some fake dream.
They know that Why u think they creating these gun laws & pushing LGBT+ on us & de-escalating men It's all tactics to keep us weak So we won't have the ability to push back It's evil but a very smart strategy
The U.S. economy relies on ongoing credit and debt generation for sustenance. The Federal Reserve is expected to increase the money supply, leading to further debt accumulation for the average American. Meanwhile, foreign nations continue to desire the U.S. dollar, despite their own economies facing significant challenges, some even worse than that of the U.S. This situation raises concerns about who will ultimately bear the consequences of these economic dynamics.
The looming recession and the Fed's rhetoric of raising interest rates have investors extremely concerned. I'm not sure what to do with my $600,000 portfolio yet. because we may not enter a recession, and even if the Fed is hawkish, interest rates may not be raised further.
@@Rachadrian Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
Boomers: *buys houses like candy, drives up the cost of rent, votes against building new housing developments, thus making the market almost unaffordable for their children* Also boomers: “Hey, we want grand kids! How come you don’t want children? You should work hard like we did!”
Lol them buying houses does not and is not the cause of higher rent. Tell me you know nothing about economics without telling me you know nothing about economics
@@wilhathaway1987 damn dude, excuse me for being disgruntled over the fact that housing and rent costs an arm and a leg to survive… If only we could just, oh idk, build more houses and living spaces?
@@trevorphilips5677you understand how housing works? If I want more money I’m going to keep a limited amount and when housing gets to dog shit I’m going to gentrify the low income area to bring in the big daddy war bucks. Rinse repeat.
The average American is the foundation of this nation's economy, therefore if their money vanishes, unemployment will rise and the message "You have an unexpected month" will emerge. If you have a lot of student loans that are coming due, that money will run out very soon.
By then, a minimum of one cut Given that it will be discussed throughout the election, I think it happened in September. Given that it's a retirement issue, I think the FED will implement changes in September. If in September they don't make any cuts.
I have this much in a taxable brokerage account, this much in a standard IRA, this much in a bank account, and this much in an employer-sponsored 401(k) plan. At the moment, I have 30% in equities and 70% in bonds, or a similar allocation. Her contact information is Annette Marie Holt. Thus, when she responds to your initial meeting, which should be provided to you at no cost, you should have a very clear picture of your current condition.
Nobody wants to work. 🤷🏾 this video is 100% accurate. I’ll be 30 next year and I’m $30,000 in debt. Then you’re going to garnish my wages so why even work? I’m about to file for bankruptcy 🤷🏾 I’m not paying for a car I don’t have when I was in my early 20’s. Sorry 🤷🏾
Slavery is the foundation of the economy if you wanna get real 😂 . And blacks are the ones struggling the most . Not much has changed 🤷🏾 that’s why I date white men 🤷🏾 😂
I was impressed by Germany when I went in the 90's while serving in the US army, but I wouldn't even want to visit today. It'd be horrible to be an EU citizen. Probably harder than being American yet I'm under employed, very low income, and find myself poorest ever in my early 50's now. Our food is mostly low quality and increasingly over priced. Western countries are hopeless.
@@Raytracer96024No, Vietnam is the same. If you get a good job (~15 million VND) right after graduation, you will need 134 months of working to buy a cheap apartment in the city. Basically, you needs your parent money to buy a house or apartment, or loan bank and might be take almost of your life to pay back. Unless you are very good at open your business and get a lot of money from that. Or work multiple jobs to increase income.
The system needs radical reform, and if it isn’t sorted out it will lead to civil unrest at a large scale. People won’t tolerate corruption and poverty forever.
im not so sure about that. people are passive sheep who arent brave and wont fight unless they absolutely have to. imo the lack of fight is what caused this in the first place. noone haas any discipline anymore.
@titolovely8237 I think the best option is non violent resistance. If we decide to revolt, we should start by not paying taxes. They don't have enough jail space for millions of people at one time. If they don't submit to our reasonable demands, then let the system crash and burn. Why should we continue to prop up a corrupt and unethical system?
Stop paying taxes. Why should we continue to prop up a corrupt and unethical system? They don't have enough jail space for millions of people at one time.
@@titolovely8237Also for a large scale "fight" to happen, there needs to be a leader(s). Where would leaders come from in the age of mass surveillance powered by AI? Any of them would be silenced pretty quick.
Eh, the increase in women in the workforce has actually not been all that high. The addition to the labor market from immigration is several times higher.
And honestly another big addition to the average work week decline, depressingly enough, is employers slashing hours to below the 35 mark because they don't want to pay out benefits and they don't have to if the employee is 'part time'.
@@wickedfire91 I worked for a concrete plant driving trucks and using pump trucks to place concrete 2007 $14 a hour hell I would of gladly done the job for $10 a hour if they offered a decent studio apartment utilities included and indoor parking for my vehicle plus great health coverage.
we're witnessing in real time why throughout history every society has a major civil war every few hundred years. at a certain point, the problem becomes too big to be fixed without conflict.
You’re 100% right. The founding fathers went to war with the greatest military in the world over what was essentially a small tax. Meanwhile our entire livelihood and future has been stolen from us, essentially leaving us to live in a techno-feudalist state, and people think voting and asking nicely is going to change anything.
@@joefer5360 It won't. It doesn't need to fix anything. If we look back at history, civil wars completely worsens the problems that caused it. But the destruction caused will give the future generations a blank slate to start again, just like at the end of WW2.
More like the establishment of a new world order. It’s a fraud from within, in order to make people accept a debt reset or a one world government, everyone must lose hope in the systems. It literally is divide and conquer.
@@futureprimitive7465 Is this a joke? The biggest boom didn't just magically happen, it happened because the Boomers enacted policies to ensure it happened to their benefit, without care to who followed. Obviously this isn't all or even most Boomers, but the national debt is something the younger generations will inherit for things that they didn't get - is this fair?
@@futureprimitive7465 Actually, You can 100% blame the boomers for this. Many empirically based books have been written on this exact subject. I suggest you do some actual research rather than simply state your opinion. hmmmmm, I just realized that you might be a boomer - in which case it's IMPOSSIBLE to reason with you. If you are, I'll just say: Okay Boomer.
I definitely blame the boomers and the generations before them. Now African Americans are choosing to leave America, I also believe its time for us to go, these wyte people fd up this country.
America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
Every day we have a new problem. It's the new normal. At first we thought it was a crisis, now we know it's a new normal and we have to adapt. this year will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned 180k savings to turn to dust
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.
Credits goes to " Vivian Jean Wilhelm " one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
I think the work hours are lies. There are people out here working 2 jobs, 1 full-time, 1 part-time, or 2 full-time in order to survive. Working 2 full-time jobs would have someone retire in their 30's or have a business, but at this point, people are killing themselves for nothing.
@Forsakenruler Yeah with a devalued currency it will be nearly a 3rd world country. Infrastructure is falling to pieces in democratic ran states I wouldn't doubt that Republican states would begin to separate from the union and start a civil war. It'll be states vs states since the government is spending us into the dirt and people don't want to fight for the country as a whole anymore. Enlistment and morality is at an all time low. They'll start conscription and exploiting immigrants.
I'm gen Z in japan 👍 I think developed countries are in a similar situation. A negative cycle is inevitable : pessimism about the future leads to decline in the birth rate , which in turn increases the burden on the young ,which in turn decline in the birth rate. In addition,Japan has the problem of lookism, geopolitical tensions Lets all run away together into space😂
Not developed countries. Western countries and Western vassal states like Japan and South Korea have these problems due to shared political polarisation that has divided your societies. Your terrible neo liberal policies that have hollowed out your middle classes and concentrated wealth in the hands of the top 1-2% of your societies. And your increased being put at odds with the majority of the world (the so called global South) with you all following America's disasterous foreign policies. Policies that are increasingly making the majority of the world dislike you and not have any interest in your business. The majority of the world that has high birth rates, young populations, and high growth that you Western countries desperately need as future markets and customers for your products. The American empire and its vassal states like Japan are digging their own graves.
I lived in your country for almost a decade and personally think the birth rates are so low because of its horribly toxic work culture. I wish they would have made adjustments in the '90s.
Boomers: Young people need to work hard and buy a starter house like we did Gen Y/Z: Can we build small, affordable homes near your community, or would you sell me the starter home you own? Boomers: Oh my god, no. You're gonna take down my property values and ruin the neighborhood. Don't be selfish. Gen Y/Z: can we get raises so we can afford homes like you? Boomers: No, you make far more money than I did at your age, just work harder Gen Y/Z: Our money has very little purchasing power compared to yours Boomers: Buys up the affordable homes and rents them back to Gen Y/Z for the price of a mortgage. Votes for more retirement benefits. Gets mad at young people for not paying the rent on time. Gen Y/Z: Can we get some help with social benefits like you get with medicare that we pay for? Boomers: Oh my god, are you a communist? Votes for tax breaks for wealthy Americans and corporations. Increases taxes on Gen Y/Z. Buys more property and votes for social security increase. Complains that healthcare is too expensive, so they need to raise income tax to compensate. Boomers: You need to get educated Gen Y/Z: It's too expensive Boomers: Not my problem. Prints dollars for war. Collects GMC pension from 40 years ago. Gen Y/Z : Can we get pensions? Boomers: Oh my god, are you a communist? Boomers: Talk about their vacations and adventures Gen Y/Z: Can we get vacation and sick time? Boomers: oh, my god, are you a communist?
It's basically a case of 'wait and inherit something from your parents then your life can start' Except, if you're lucky enough to have parents with a house, it still be sold to pay for aged care and you'll inherit nothing. If you do receive inheritance, you will be in your 50s or 60s when you finally get to have stability. You can't start a family in your 60s can you. This is a global problem, greed is so great that entire generations can not afford to continue the human race 🙃
What about all those illegal aliens who traveled illegally through Mexico by caravans; they are breeding anchor babies in the United States hoping to become a United States citizen but they are not earning any more than the citizens of the United States!
And then there are those who don't have parents with assets. The financial burden of taking care of your family (mother and father) falls onto you with absolutely no assistance. It's a pretty interesting situation we're in
In which western country DO young people have a future? I see none. I'm german and we have the same problems as well as every other wealthy european country.
Same thing can be said about India as well. In my home state in India, my parents bought a plot of land to build a home for $1000 and now, it is more than $100,000. No young person can buy real estate to build a home now.
I think you are in with a chance, IF big IF, you need to be hitting top 10% of income earners by the age of 30 and that job needs to carry you for at least 30 more years. Everyone else under say about 35 in 2024, is well screwed unless, you really basically NEED to be getting an inheritance at some point.
There are statistics on which countries treat their under-30s better or worse. There are a lot of different numbers to consider - some countries spend more tax revenue on health care and pensions for older people, while in other countries older people who own real estate have jacked up rents to make young people pay for their needs that way, or shareholders have suppressed wages growth in order to give themselves higher dividends, for instance. But if you look at the comparative median net income after tax, rent, education, and health care expenses, of the different age groups in each country, you'll be able to locate the countries where younger people are getting a less brutally unfair deal. As a bonus, by voting with your feet and working and paying tax in a country that treats you with a bit more respect and a bit less exploitation, you will boost that country's economy so that it can give you and those who move there after you an even better deal.
Currently 24 years old, sister didn't want me at the house anymore because I was paying $500 in rent while paying $600+ for fucked up car payments + Insurance. Working at Amazon warehouse that pay $15 an hour and treated me and the workers like shit and hated it, quit after 7 months and living with long term friends house for a few months now and desperately trying to get a job to pay off my debts and to be on my feet. Currently have -$25 in bank account and barely have any gas in my car that might be taken away soon (It's a fucking Mazda2 that's $6K... I know it's fucked up.) because I HAVE NO MONEY TO PAY THE GOD-DAMN BANK WITH NO JOB YET! If I don't have a job soon I may off myself off this planet. Nobody fucking cares.
@@FinanceWageSlave Ironically enough Texas. "It's a great place to live!" No money to go to even a trade school again and I did join the army before but got discharged for depression. So I am pretty much fucked at this point. Not smart of hold any degree to myself so I am good as dead.
@@haaxxx9 From the most screwed generation alive today (Millenial), Let me just say you are SO Lucky to be only 24 yrs old in this situation... for more reasons than you can understand... 1 small reason is based off of a problem you mentioned having in your previous comment: no money for *Trade School* - Good News is you can still get FREE Trade School (Job Corps) but you have to HURRY like hell & apply _Before_ turning 25 (thats the cut-off age for acceptance into their program). Google the number & apply asap, once your info is in their system YOU get to choose Which Campus/Location you want to be placed at, & they'll even pay for your plane ticket if you choose one that is out of state. Look them up (Job Corps) on youtube & see how you feel about it & the Trades they teach/ programs they offer - ALL Free with no paying anything back at all. Side Note: _Different Campuses/Locations, Different kinds of people you'll be around but thats like anything else in society so as long as YOU stay focised on your career training, stay out of drama & most of the social atmosphere, you should be fine._
The fact of the matter is that the economic boom that played out after World War 2 has finally played itself out. For those of us born during the early '80s, a decade when the American Dream was at its height, we have had to sit back and watch as our economic futures were slowly eroded away by changes in technology, finance, politics, and demographics. It's little wonder why so many Millenials and Gen Z either stay single and/or remain childless.
I'm 29. I tried to have a family twice. Both times, I got screwed over. I'm done with it. Lost my house right before covid and been living with my folks, since. I work as a full time mechanic and still can't afford rent prices around me. Even if I could afford $1k a month for a private room, they want proof you make 3 times that amount, which I do not. It's a damn joke, anymore. Sick of this rat race crap.
@@Truther945 yup. Ganted, I don't work for a dealership. But still. I'm honestly thinking of switching trades, for full time work and working on cars as a side job.
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
Just get a financial planner straight up! personally, I would invest in etf and also love investing in individual stocks. yes it’s riskier but I'm comfortable in my financial environment.
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Some people really enjoy what they do. That's also a big part of life. I've meet many people that loved working and worked long hours. They weren't hourly people but in some type of corporate profession. Like IT, Accounting, Sales, Law ect....... I know it sounds hard to believe but I saw it.
That’s why people used to say “passion over money.” Obviously, that’s just stupid because you need money to live. However, that’s not what the quote meant. You have to choose a career that you are really passionate about and one in which you can make that income to provide for yourself. People associate this with art, but I literally hate art. Manual Labor, skilled trades, and engineering are examples of that “passion.” If you do what you love, it doesn’t feel like work. Any career ever can be like this, and they can still provide a liveable paycheck.
Study Bitcoin and you’ll see how deflation is actually natural as things become more efficient. Inflation is the devil keeping everyone unhappy and poor
I think the big problem with housing is more and more people are seeing houses as an investment so everyone is simply buying to rent or flip. They dont buy to live in just to make money off of.
As the video mentions. Thousands and thousands of single family homes are constantly being purchased by singular private entities with the purpose of driving up housing prices, and securing forever renters
yes. In Denmark anybody in the world can invest in property, if you're a chines billionaire you can own 1000 houses. there is ZERO % capital gains on house flips, its the only easy way to get rich. the average home here is a bit over 1 million dollars, despite the fact that our governemnt spends a shit ton of money on making more affordable housing.
Ohh trust me bud, they don't even fix the houses right either. They just do cheap labor and make it look new enough, so when you buy the house outta nowhere, something breaks.
My once small town has been growing so fast, and every day I see new massive apartment complexes being built. But the worst part is they're as far from affordable as you can get.
I really don’t think it’s companies though. There certainly are some but half of what he’s talking about is government overspending. Student loans got so bad because they are to government protected which means companies have an incentive to give them out to everyone at the highest qualities at the worst terms.
@@BF4ClanTBSwhich was literally caused by corporate lobbying, and then corporations intentionally manipulating that student loans are government backed in order to jack up tuition rates to maximize profits? Literally still corporations lmao.
@@orangemanbadnot even remotely true, or the issue. If anything, historical, tougher immigration policies harm our economy greatly and lead to more illegal immigration.
Corporations masquerading their political agenda as humanitarian efforts. They’re a pencil-pusher away from owning the monopoly on violent extortion. They attempt to organize forced behavior.
I find it weird that a lot of older people advocate that voting will fix this issue, but how will it? No politician is focusing on bettering the position of those under 40 they would rather cater to the over-40 age bracket. There is nobody to vote for to change the system for the better. It seems like young people are just supposed to wait and have the can be kicked down the road until the current older generation passes away and then when we are 60 for the first time in our life we can be cared about. Unfortunately, as well I think the issue has gotten so bad that there is no way to make both parties happy one has to take a hit so the other can get a bump.
@@Worldofourown2024 I'm also in my 50s and never been more wealthy and I'm confident my retirement is well-funded. I'll retire by age 57. Maybe you made horrible life decisions. Stop blaming others for your failures.
@@JoeBlow-fp5ng That's ideally how it's supposed to work. Yea, I did by serving in the military, going to college, and by being a teacher a number of years. I don't blame you for my failure, but I blame our rigged economic system and political chaos as well as speculators like Blackrock. The sovereign credit crisis, collapse, and civil war will be coming.
The "work week" got shorter because Obamacare mandated employers provide insurance to those working full time so employers just shortened the week so they wouldn't have to pay, leading more employees to need to offset their wages with a second or third job. They didn't get lazier.
@@yellowyata774 Why not? Who is supposed to pay for your health care then? I suppose you think someone else owes you something and should eat that loss.
This video doesn't add to the fact about being lazier is that full-time jobs have become less desirable to employers and changing to part-time and tipping jobs are on the rise.
I think both of them have pros and cons. Full-time jobs in good company will provide stability, and good benefits (mostly). While part-time and contract might give you a lot of time and might be nothing, all things from the benefits will need you to do by yourself.
Because the old Americans have spent the future of the country recklessly accumulating unpayable national debt. Yet still sending money to other countries and countless wars that aren't related to Americans. All policies passed by old generation law makers. Sad.
I believe 99% of these old ppl leaders politicians from both sides got no idea even on how to convert EXCEL to a PDF file on a computer. And yet, indeed, they are leading the country. Same thing happens around the world. but for young people, if you don't know how to use a computer, you even can't get a job.
Keep in mind that when America gives money to other countries, it all gets funneled right back into the pockets of American corporations. For example, the billions of dollars sent to Ukraine by Biden for weapons went straight to companies like Lockheed and Northrop.
I work close to 50 hours a week for around 30k in Houston, Texas with a BA. I live pretty cheaply and don't have a wife or children because I couldn't afford them.
I decided not to go to college as i thought it was a complete waste of time, glad to see i was right and sad to see all those that thought they'd get a head start to only be saddled with debt before they even start their life.
College is full of conformist slave moralists. Build your talents and career opportunities by working. If youre not a doctor, lawyer, etc, dont attend college
Same boat as you bro, all my buddies went to college I think a lot of people do it because they would rather go enjoy themselves for a few more years than actually have to grow up and start paying bills. I started working at a local factory making not bad money working with dudes who literally had degrees and it didn't work out for them that's when I knew wow I'm glad I didn't spend all that time and money on college. A pretty small percentage of people that go that route are actually gonna have it pay off.
You just need to be smart about what you pursue. Millennials were told any degree was worthwhile which is just not true unless you're already rich. I majored in accounting and my husband computer programming and we're doing really well in our careers.
It really meeds to be against the law for those big corporations from owning 100s of millions om singly family homes. They should only be able to invest in apartment buildings
So true. Because as we all know, there's no way new housing can be built to make buying residential real estate less appealing for PE firms. A FULL BAN ON FREE MARKET DYNAMICS IS THE CLEAR SOLUTION 🫡
They should only be able to invest in new units and be able to charge for them for a limited about of time, maybe 50 years or some margin above amortization.
This. Only allow actual people to own single family homes, and have a vice tax that scales up when people own more than one per person, or own a habitable dwelling that is sitting vacant. As a side benefit, all the investment money driven out of the single family home market will then push for building more apartments. Apartments aren't something a sensible person wants to own one of - when the building gets worn out, it has to be demolished, and your capital value is demolished with it - but a corporate owner can handle the process of demolishing the old building and building something new. Apply a really punitive vice tax on empty dwellings so they *want* people living in all those apartments even if they have to discount the rents to make it happen, and we should see rent prices drop.
THIS SHOULD BE THE NUMBER ONE TOPIC FOR THE 2024 election🤦♂️🤦♂️🤦♂️🤦♂️🤦♂️ not abortion, not immigration, not foreign policy, none of that bullshit matters
It really isn't. It's such an astronomical figure that any reasonable attempt to pay it off would immediately bankrupt the US, so it will simply never be paid. One day the US dollar will be found to be worthless, which will wipe out the entire debt. Maybe a new currency will take over, maybe the population will be forced to return to subsistence farming, who knows.
It's not about new housing production being too low, it's about existing units sitting empty because of greed. In 2022, there were 7,700 people living in shelters or on the street in the city by the bay, according to city figures. Meanwhile, there were more than 60,000 vacant units. This also has to do with zoning regulations and a strong preference for single-family homes.
The lack of new construction due to zoning encourages hoarding of homes by investors. Investors know little housing can get built so they invest and hoard even leaving things empty. If zoning allowed housing to get built investors couldn’t count on guaranteed real estate returns and would invest in something else releasing more homes on the market.
@@oreo507 Even if only 8% of those 60,000 units were vacant long-term, it would be enough to house all the homeless. I guess you're as bad at math as you are at spelling, SWEETIE. 🤣 If you're going to try and be a condescending troll, you should actually know something. Or at least spell your insults correctly😳
I’m 43 years old, have a masters degree, and have worked at least 40 hours a week for two years in a supermarket. I still can only afford a one bedroom. Thank God I don’t have kids.
I usually worked as a software developer for a small startup i was living paycheck-to-paycheck, Don't have much mone or pursue my dreams. One day, my friend introduced me to Ms. Susan Jane Christy
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my son's surgery (Oscar). Glory to God.shalom.
I interviewed someone with 2 masters in science for a $20 an hour job. I have no degrees, became a manager through working my way up. How are we going to save the new generation from all this school debt? We are wasting them, so talented but could do better in another field that fits their degree.
There aren’t as many specialized opportunities as there are people with advanced degrees I’m afraid. And employers are less willing to pay to train employees, so it is up to prospective workers to pay for their education and training through university, certifications, vocational school, or expensive networking opportunities. Hard work is often a prerequisite for success, but hard work does not imply success. Meritocracy is a myth.
Have to stop pushing college is a must for everyone. I went to college for engineering, Ive already returned on my investement within 4 years of graduating. But there are so many useless degrees that young people go into because they feel they have to. End up with 250k in debt and no better qualified than a highschool graduate
I started working at a local manufacturer in 2022 when I was 18, within 2 years of working hard asf miserable hours I went from 15 an hour to 20.40 an hour. I work with people in their 40s who are still paying of college debt meanwhile I'm 18 still kinda living off of my parents with very few bills.
the median home prices in cities where people live and have jobs is actually 9-12x the median salary. Also the problem is not the lack of homes, it's companies and rich people buying them out. It's NOT supply and demand. I'm in a country that from 1990-2023 went from 10 million to 6 million population. During that period we have built so many homes that now we have 3-4x more homes than before. With all that you'd think that they are cheap right? Nope, in the 90s the median home, which back then was 74m^2 and now is 48-51m^2, went from 2-3x individual median salaries to 9-12x... let that sink in. Companies are buying out homes or straight up building them, and they artificially price them based on what loan 2x median incomes can for the median home and then they scale it based on size, year of construction and location. And the politicians won't do anything about them, because they are either one of the owners of said companies or have heavily invested in them, or just own a lot of real estate themselves.
Yep I was just becoming an adult when the 08 crisis hit. I watched how nothing was done to change the system. It became clear the game was still rigged. Now I try to live cheaply as possible, to maybe retire at age 70 or so.
Young people let’s start doing something. Let’s start creating the chaos that they hate. We need to start voting for the right people for us. It’s us against them.
Back in the days, even with low income can afford to purchase a house due to the USD purchasing power was strong, and very low government debt. Now, a low income bracket is below 70K, and still cannot afford to purchase a house, due to US dollars has declined dramatically its value and a massive pile of debt. When the government has no control of printing money, as if money doesn't lose its purchasing power.
The reason why we have problems with Housing is not really the zoning laws. It’s corporations and real estate investors buying up all the residential housing!
Point taken, but single family homes are on average more expensive to build per unit. More expensive to maintain and heat as well. With heating, a single family dwelling needs more energy to maintain heat from four sides exposed to the elements. A townhome needs to maintain heat for three or two sides exposed to the elements.
I truly feel very sorry for the young people in this World. The older generation has created this environment out of pure selfish greed and little thought or care for our young. It disgusts me.
Don’t worry. When their bell chimes and they lay in the hospital bed. They will finally realize all that money they hoarded means nothing to them now, and now they need to answer for their sins.
This is very true. As bad as things have gotten for young Americans, it’s still very doable to buy a home if that’s your goal. In manny paces in Asia, it’s mathematically impossible for a married couple to do so without help from family on local wages.
it is. most of the silly immigrants who come here, end up marooned without a job and homeless. legal or illegal. most of them end up at the bottom of the barrel in society.
Not really I mean people think it’s some utopia but everything is about making money I mean medicine, housing, education, pharmaceuticals, food to name a few they just lie to you about what is “good for you” and you come out burdened with debt missing a limb
It's a bit comforting to be reminded I'm not young nor having any kids. I'm in my 50's and poorest I've ever been. There's no hope with this debt based speculative financial economic system with a hostile work culture. It's impossible to have a solid professional career and stable employment or even a business. It's impossible to buy a property. It's impossible for me to even own a vehicle. It's hopeless.
How much have large funds, “charities” and corporations buying up available land & homes affected all of this? I’m a black 23 year old man, most “boomers” I know aren’t sitting on acres of land and not trying to share.
As a 37 year old I remember three years after I graduated highschool there was the 2008 housing crash. Like anyone I saw this opportunity to buy a house for the cheap. When I went to banks and tried to get a home loan the lowest they would offer me was $300k and at a fixed rate of 6%. Ripoff and a scam. So I thought I might just see about going through a mortgage broker and realtors. Realtors REFUSED to sell their houses because they wanted to wait for the prices to go up and mortgage brokers wouldn't even talk to me unless a realtor was present. All I hear from my generation is that housing was never an option and sadly that has been passed onto the next generations.
A lot of older people have been left behind, as well. My sister and I have degrees and have worked nearly all of our adult lives with nothing to show for it in my case and a little in my sister's, we're late Boomers. My sister has done better than me but she's worked much harder than I have and she goes around in pain 24/7. She just had a shoulder replacement, wears a knee brace, and has to go around with in a walker or wheelchair when she travels by air.
Historically young people in the U.S. don't vote in local elections or in general. Young people generally don't participate in politics or the political process. The people who get elected reflect those who participate in the process.
Young person who’s always voted and did their research, the elections are a joke and you choose from a curated list. I rather have one of my old teachers as president, think he’d do a great job, never gonna happen. We gotta choose an old rich person who’s so beyond out of touch it hurts.
@@13bunnylove13 Local elections matter more than national ones. And it's not enough for a few random young people to vote. You need large numbers to have influence.
We The Sheeple. Voting doesn't matter. It's been proven that we live in something more closely resembling an Oligarchy than what You think we are living in. Yeah, keep voting, see what that'll do for ya. Sheep
@@Truther945 So when you pay for registration and the plate for your car every year - you also don't own your car? Or the income taxes you pay on your labor - does that mean you don't own your labor too? This is the illogical hyperbole of the libertarian right.
@@vmoses1979 We own nothing, if we don't pay our taxes then we lose rights. Car taken away even if we own it, house taken even if you payed all 400k of those bills, and you owe money to the IRS or else you go to prison.
my advise to students. Do not take student loans even if you are not 100% sure that you can repay it. Instead, go to other countries. There are many universities and colleges in Europe. go to japan or India where you can get the same level of education by spending the fraction of what have to pay in USA. you should not start your after college life with debt.
I hear many professions don’t accept foreign degrees on some fields. Then someone told me that if you have an American degree, you have a degree everywhere. I’ve never been so close to giving up, I’m exhausted from student loans.
Yall should check out Mexico City , Guadalajara , Querétaro in Mexico . University is cheap and in central Mexico it’s pretty 1st world , one of the safest areas of Mexico and if you know English you can pick up side gigs
The degree may not be accredited, though. People really have to research if their degree will be recognized by employers/organizations. I did just over half my undergrad in the US (2 year school + large state school) and the rest in China on scholarship. I graduated without loans, but I only made it work by majoring in a language and testing out of a lot of the US coursework. For grad school, I chose a British uni with a campus in China, so I didn't have to worry about accreditation or spending more than $10k on my advanced degree.
Most jobs fromy personal experience dont care about degrees. Even if they do, you can start working in say mexico and then bring that work experience with you to your home country. After your first job your degree becomes irrelevant. @@gaoda1581
India? Getting into Indian universities is extremely competitive and their degrees won’t land you a job back in the US which is why so many students in India go abroad
@@koi3481tell her to claim all her classes and textbooks on her taxes since she’s paying out of pocket. You should be able to get a 1098-T from the school, keep all the receipts from everything. Should be able to get all the money back.
I'm not proud to say this, but as a builder in southern California, we stopped working for middle-income families years ago. The cost of labor, insurance cost, liberal-run government, high taxes and the length of time spent trying to get permits or meet requirements. Is not a middle-income family budget.
Bidding wars are illegal in France (the house costs what it’s listed or less) and energy inspections are mandatory before you can even list your house for sale… just an idea 😊
@@Andreabay90 haha. I guess in North America - we 'figure' out who really wants the house by making them offer their best and final. And then you take the highest one. It drives up the price but it seems like a fairer way of determining who gets the house rather than some random reason.
@@dingus6317that’s the funny part. When people say “if you don’t like it leave” where can I go? 😂 or if they say “without taxes there would be no roads, bridges, etc.” ok so if I don’t wanna use them can I stop paying taxes? No…
@@johncol5974 We even have to pay to renounce our citizenship. Most don't ever really think about the implications of all these things, we are basically tax cattle debt slaves.
@@johncol5974 "If you don't like it leave" is such a tired regurgitated rhetoric, you know immediately the person saying it had to take lessons to learn how to breathe through their nose.
That is what I always say to everybody..."You say nothing"! In other countries in Europe, people go on the streets and demonstrate, block cities infrastructures and "go wild". While that is sometimes extreme, it helps that government changes things for the people. In the US, we go on the streets when another mass shooting happens that we forget about a week later.
@@Cosmo_P0litanidk the way people reacted to BLM and protests against oil companies make me believe that either we radically change the way we look at protesting or we slowly perish while keeping our heads low
Well regarding the Housing situation, the US has an incredible problem regarding zoning laws and the design of cities itself. The Car centric culture as well as the focus on only single family homes and no mixed used neighbourhoods is a nightmare.
No, the problem is Biden/Harris allowing 15 million illegal immigrants into the country in the past 3.5 years. Illegal immigrants compete with you for jobs and for housing, keeping wages/salaries down and housing costs way up due to massive demand.
Even if you stick with single family homes, there are a lot of ways to do that better. The traditional English terrace rows could fit a lot of families into a small space, but they each had their own front yard and back yard (even if these were tiny) and nobody living above or below to be thumping on the floor or ceiling and complaining about the noise. If the wall between each dwelling and the next is satisfactorily fire resistant, it's going to block a lot of noise as well.
@@magesalmanac6424 Older buildings are a weird mix of better craftsmanship and worse design. On balance, I'd like a brand new terrace house as a suburban norm - one built to passivhaus / net zero standards for energy and comfort, but also built to last the way older buildings were, that most modern buildings really aren't.
9:13 also, student loans are government guaranteed, meaning colleges can charge more give out more loans at no risk. Get government loans out and prices would go down
I agree that this likely contributes to higher tuition prices; however, the price could not and would not fall materially, in my opinion. The operating cost of most of these schools is extremely bloated, and they would do whatever is possible to generate more revenue, before they cut costs. In Canada, for example, they have relied on international students and special programs via companies like Navitas
I was expecting some socialist apologetics. That being said, this video pleasantly surprised me by laying out the situation pretty accurately. Thumbs up.
Over 50% of economy is government funded, the healthy sectors most separate from it have deflationary industries or industries that excel on quality and speed. None of that is true in the Keynesian government interfered sectors, housing, education, healthcare etc.. True free market systems will lead to inequality based on who individuals choose to spend their money on , this type of inequality that we see, way more correlates with who is connected to the government class/ contracts, benefits from regulation and inflationary spending, robbing the purchasing power of particularly low to middle income earners.
@@conorobriencoaching I agree and I am mostly free market and conservative. But I think we need to desperately figure out ways to get median wages north of 50,000 dollars and improve home ownership, or we are headed toward extreme radicalism.
San Francisco Bay Area: Spent all my time and energy working my way through college(sleeping in my car) to get my bachelors degree in Business Marketing. I finished a digital marketing apprenticeship a year ago with client experience and internship oppurunities. I’ve applied to 500+ jobs , a lot of them with personal job referrals, and got declined by 490 of them, the other 10 were either underpaying, lying on the job description, or trying to make me want to work for commission. Everyday I’m one mistake away from being homeless. What they do is change the job description, jobs that used to be 1-3 years of experience entry level are being edited ✍🏿 to 3-5 years of experience leaving everyone else in limbo or purgatory. Not to mention we are battling people with 10-15 years of experience.
Yea, good one for few talk about debt and debt based economic truths. And the fact it requires a masters degree and 300 years experience to get a job that should only require a bachelors degree. The degree just says one is capable of learning more and has math, English, and tech skills. No employer would allow me a stable long term professional career. I'm early 50's now and can't get a job despite having no criminal background issues. I have credit score issues and gaps in employment due to many temp jobs. I guess it's a competitive market so much so I'm out of my league for there are big data centers around where I live along with tons of industry. Utah is booming, but probably way out of my league. It's a hopeless system.
I would counter that the whole Boomerd vs genz/ younger Generations is just one Facade of the true enemies, pitting us against each other. The same with men vs women, "woke vs conversative", race against race. You must open your eyes and realise who the true enemies are which suck everything out of our economy. We live in a society where the people that make 700$ per hour have convinced the people that make 25$ per hours, that the problem are the people that make 12$ an hour earning too much 😂
It's not because of U.S. or every Western Countries. It's literally every country in the world. Singapore is clean and beautiful, but if you live there you will pay heavy prices. South Asian countries? They don't pay enough for the people. East Asians? They are expierencing decline of brith which causes more tax and deflation. African countries? Most African nations live in poverty excpet Botswana or Rwanda and maybe Morroco. Russia? they live poorer and get less pays while the prices are also high. South America? You've seen how they've been...
Because in 2017 there was a reform in the US that allowed investors to pay less taxes and to depreciate more of their investments up front. So when covid hit and inter at rates fell in 2020, they all gobbled up the houses to take advantage of the new tax rules. Sad.
The silent generation accurately diagnosed the boomers as the “me” generation over half a century ago and it’s wild to see how right they were. I’ve always found that the olds going off on “young people” is normally a form of projection. Every accusation is a form of confession.
Just found your channel and I'm blown away by how you deliver such awesome content without even showing your face .I'm learning so much from this and you're really inspiring me to start my own channel. Thanks !!!
Sometimes it is wiser to say nothing, especially when what must be said and planned is bitter to the ones who drew us here. The tree is starving. We must water it.
The current generations are so cooked my father got into army and achieved so much when he was my age and I'm literally here gaming without any goals smh.
Would love to have some more insight to the last bit. What are we to do? What does standing up and saying enough is enough look like? What ways can you take the future into our own hands? Subscribing to your UA-cam channel can't be the only thing we can do
Very fair point. Maybe we were too artsy fartsy at the end. In terms of suggestions, here is my take. At the most fundamental level young people are focusing their energy incorrectly. On the both sides of the political see saw, young people are distracted by the “culture wars”. Instead, the front should be more united and focused on issues of economics and standard of living. Secondly, when young people do discuss issues of economics they do so in a way that highlights a true lack of understanding. On the left it becomes about taxing the rich and redistribution. On the right it becomes about implementing Ayn Rands objectivism. Both views lack nuance. Instead, young people need to see politicians as a tool, but in reality politicians see young people as a tool. The only way this is possible is understanding how policies impact you. This requires being a bit more selfish. Thinking about your interests. Here are some examples: Many folks wants to increase business income tax. This will harm young people and likely reduce wages and employment opportunities. If business taxes are increased, business owners take home less and therefore pinch more pennies. - Home owners are able to deduct interest from taxes. They have a lower capital gains on the sale of homes. They can leverage a 1031 exchange to defer taxes into oblivion. They can depreciate and carry forward. All of these are non productive. Unlike income earned by working land ownership is usually a zero sum game (unless you densifying). Young people should be fighting to increase all of these taxes and lower income taxes. - Colleges funded by the government are spending money on the most ridiculous things. And young people fall for it because they want the “college experience”. Instead there should be accountability and guard rails on funding providing by your tax dollars. For one, tuition shouldn’t be able to increase at the rate it has! - Young people are generally in favor of crazy spending bills. But they forget, the money will come from them in the future. Instead, young people should be against crazy spending. They should want fiscal responsibility. But it’s generally the opposite - young people on the right think private medicine makes sense. When on nearly all metrics it doesn’t. The American medical system is extremely inefficient. And if you tie this back to Medicare this inefficiency is a tax on young people who will need to support older generations Just a few examples, but the point simply being that the young voting bloc is too easy to win over and continues to vote against its own interests.
The only thing the ones in power care about is money. If we really want to do something we have to stop giving them our money. Yet we refuse to stop shopping at amazon, walmart, target, sheetz, etc. Even with how aware we are of their destructive practices it seems like nobody really cares. We can talk and vote all day but until you hurt their bottom line theyre laughing all the way to the bank. Shop small, shop local. If even five percent of americans stopped giving the ones holding us down all of our money they would notice. Then they would draft legislation that forces us to shop with them or something like that but it has the same answer. We are funding our own demise. Where do you think the billionares got their money from? Us
@2and20 very insightful. I do agree we need a lower average age of people running the country to value the interests of the younger generations! Excellent info!
@redsoxfanatic8 the biggest thing we can do is stop giving the same three companies money. Blackrock, vanguard and state street own majority shares in basically every large company. That's how you make the ones in power start thinkin a litte differently. All they care about is money. You hurt their bottom line you're hurting them. I can't even count how money people I see recieve amazon packages every singe day. We're the ones making them rich. Cancel this clothing company has spreadsheets showing which companies at stores are owned by huge conglomerates. Good luck most people never even consider trying to do anything.
@@2and20yes I too work 50-60 hours a week. And at my second job, about 65% of the employees also call it their second job as well. They likely work more than 40hours weekly and I'm inclined to believe that the stat will rise in the coming years, unless the data is misrepresented/flawed.
I grew up Poor AF. Food stand medicade all that. By the time I was 26 I bought my own home, own two cars, own a cabin and a few acres in the mountains of Colorado. Oh I'm also married and have 4 kids. I also don't have a college degree. I've been incredibly blessed and lucky by the sound of things. Praise be to God.
That's a great post. I grew up in NJ and the amount of people that traveled into NY everyday to work was very large. They couldn't afford to live there so they moved west into NJ. The further west you went the cheaper it got.
Facts abour Florida: Median Home Price: $440k Average Propert Tax Bill: $4400 Homeowners Insurance: $8770. Median Wage: $64k a year. Summary. If you had the average joe blow house PAID OFF IN CASH: you would still have to pay 23% of your ENTIRE GROSS INCOME on just taxes and insurance.
As much as I am for not having limits against people buying homes, there needs to at least be a temporary regulation against entities owning multiple homes until supply is determined to be sufficient.
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Sell out.
Legion of Men stole your video.
Also,.is the graph at 12:00 supposed to be titled national debt vs. wage growth?
The sheer hypocrisy of trying to sell something at the same time of criticizing the woes of modern U.S. economics. Smh
Creating a generation of men with nothing to lose, not a dime to their name, no ability to have a wife or kids is a dangerous game to be playing.
This!
They vote for dictators
and why do you think men are where they are at? We lied to them saying they need six figures, need to be six feet tall, have the biggest house and car, etc.
maybe let's get back to what the dream was about not some fake dream.
@@evacody1249 f$ck those six figures, cars, heights we can't even afford to buy anything having working normal jobs, thats the problem
They know that Why u think they creating these gun laws & pushing LGBT+ on us & de-escalating men It's all tactics to keep us weak So we won't have the ability to push back It's evil but a very smart strategy
The U.S. economy relies on ongoing credit and debt generation for sustenance. The Federal Reserve is expected to increase the money supply, leading to further debt accumulation for the average American. Meanwhile, foreign nations continue to desire the U.S. dollar, despite their own economies facing significant challenges, some even worse than that of the U.S. This situation raises concerns about who will ultimately bear the consequences of these economic dynamics.
The looming recession and the Fed's rhetoric of raising interest rates have investors extremely concerned. I'm not sure what to do with my $600,000 portfolio yet. because we may not enter a recession, and even if the Fed is hawkish, interest rates may not be raised further.
@@Rachadrian Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
pls how can I reach this expert, I need someone to help me manage my portfolio
Annette Christine Conte is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
If you dont have 6 figures by 6 yrs old, youre doomed.
LinkedIn be like
That's why it's important to open a savings account for your children so things like this don't happen to them in their own time
@@etaokha4164say goodbye to the American dream, say hello to nepotism.
We're all doomed
So you're saying I have to be a Trust Fund Baby?? Hand me my sliver spoon!
Boomers: *buys houses like candy, drives up the cost of rent, votes against building new housing developments, thus making the market almost unaffordable for their children*
Also boomers: “Hey, we want grand kids! How come you don’t want children? You should work hard like we did!”
Lol them buying houses does not and is not the cause of higher rent. Tell me you know nothing about economics without telling me you know nothing about economics
@@wilhathaway1987 damn dude, excuse me for being disgruntled over the fact that housing and rent costs an arm and a leg to survive…
If only we could just, oh idk, build more houses and living spaces?
@@trevorphilips5677you understand how housing works? If I want more money I’m going to keep a limited amount and when housing gets to dog shit I’m going to gentrify the low income area to bring in the big daddy war bucks. Rinse repeat.
Also boomers “Y’all spend too much on Starbucks coffee. Because of that you can’t buy a house”.
Grandkids require space and $$$!!!
Genuine question as a 23 year old how do I fix this without sacrificing my life like the people did during the French Revolution ?
Stop giving them your money. Dont buy from amazon, target, walmart etc. Thats the only thing they care about. We are funding eveything we hate
First by learning that the French Revolution was not against the bourgeoisie but against the first and second estate…
You can't without sacrifice
It’s time to leave the USA… move out. Move away. I did. I don’t regret it
@@JenniferA886Rich persons solution.
The average American is the foundation of this nation's economy, therefore if their money vanishes, unemployment will rise and the message "You have an unexpected month" will emerge. If you have a lot of student loans that are coming due, that money will run out very soon.
By then, a minimum of one cut Given that it will be discussed throughout the election, I think it happened in September. Given that it's a retirement issue, I think the FED will implement changes in September. If in September they don't make any cuts.
I have this much in a taxable brokerage account, this much in a standard IRA, this much in a bank account, and this much in an employer-sponsored 401(k) plan. At the moment, I have 30% in equities and 70% in bonds, or a similar allocation. Her contact information is Annette Marie Holt. Thus, when she responds to your initial meeting, which should be provided to you at no cost, you should have a very clear picture of your current condition.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Nobody wants to work. 🤷🏾 this video is 100% accurate. I’ll be 30 next year and I’m $30,000 in debt. Then you’re going to garnish my wages so why even work? I’m about to file for bankruptcy 🤷🏾 I’m not paying for a car I don’t have when I was in my early 20’s. Sorry 🤷🏾
Slavery is the foundation of the economy if you wanna get real 😂 . And blacks are the ones struggling the most . Not much has changed 🤷🏾 that’s why I date white men 🤷🏾 😂
It’s not just America it’s most of the world.
it’s even worse in Europe, considering all the crap going on , all around the world, we are actually not doing too bad
@@damirzannenahh usa is way worse
Except China, Russia, Iran, Laos, Vietnam etc...basically BRICS+
I was impressed by Germany when I went in the 90's while serving in the US army, but I wouldn't even want to visit today. It'd be horrible to be an EU citizen. Probably harder than being American yet I'm under employed, very low income, and find myself poorest ever in my early 50's now. Our food is mostly low quality and increasingly over priced. Western countries are hopeless.
@@Raytracer96024No, Vietnam is the same. If you get a good job (~15 million VND) right after graduation, you will need 134 months of working to buy a cheap apartment in the city.
Basically, you needs your parent money to buy a house or apartment, or loan bank and might be take almost of your life to pay back.
Unless you are very good at open your business and get a lot of money from that. Or work multiple jobs to increase income.
The system needs radical reform, and if it isn’t sorted out it will lead to civil unrest at a large scale. People won’t tolerate corruption and poverty forever.
im not so sure about that. people are passive sheep who arent brave and wont fight unless they absolutely have to. imo the lack of fight is what caused this in the first place. noone haas any discipline anymore.
@titolovely8237 I think the best option is non violent resistance. If we decide to revolt, we should start by not paying taxes. They don't have enough jail space for millions of people at one time. If they don't submit to our reasonable demands, then let the system crash and burn. Why should we continue to prop up a corrupt and unethical system?
Stop paying taxes. Why should we continue to prop up a corrupt and unethical system? They don't have enough jail space for millions of people at one time.
@@titolovely8237Also for a large scale "fight" to happen, there needs to be a leader(s). Where would leaders come from in the age of mass surveillance powered by AI? Any of them would be silenced pretty quick.
Sure they will. Do you study history?
'Average work week is 35 vs 34 hours'.
Except their generation had stay at home wives and we need two income households. So its actually 35 vs 68👍
Boomer women worked.
@@UNDERDOG18UNDERDOG18😂 yea if they did they were making crazy income as a household
Eh, the increase in women in the workforce has actually not been all that high. The addition to the labor market from immigration is several times higher.
And honestly another big addition to the average work week decline, depressingly enough, is employers slashing hours to below the 35 mark because they don't want to pay out benefits and they don't have to if the employee is 'part time'.
@@wickedfire91 I worked for a concrete plant driving trucks and using pump trucks to place concrete 2007 $14 a hour hell I would of gladly done the job for $10 a hour if they offered a decent studio apartment utilities included and indoor parking for my vehicle plus great health coverage.
we're witnessing in real time why throughout history every society has a major civil war every few hundred years. at a certain point, the problem becomes too big to be fixed without conflict.
You’re 100% right. The founding fathers went to war with the greatest military in the world over what was essentially a small tax.
Meanwhile our entire livelihood and future has been stolen from us, essentially leaving us to live in a techno-feudalist state, and people think voting and asking nicely is going to change anything.
Legit question. How would a civil war fix it? I think it would lead to a balkanization and UN intervention in today's global landscape.
Soon young men are going to say fuck it , there’s no point in living so why not raffle my life in a conflict to at least go out with a bang
@@joefer5360 It won't. It doesn't need to fix anything. If we look back at history, civil wars completely worsens the problems that caused it. But the destruction caused will give the future generations a blank slate to start again, just like at the end of WW2.
More like the establishment of a new world order. It’s a fraud from within, in order to make people accept a debt reset or a one world government, everyone must lose hope in the systems. It literally is divide and conquer.
The old generation should blame themselves, not their children's generation. The old generation stole the future.
You cannot blame what happened with the boomers for this. Nothing could stop the economic downturn following the biggest boom in history
@@futureprimitive7465 Is this a joke? The biggest boom didn't just magically happen, it happened because the Boomers enacted policies to ensure it happened to their benefit, without care to who followed. Obviously this isn't all or even most Boomers, but the national debt is something the younger generations will inherit for things that they didn't get - is this fair?
@@futureprimitive7465 Actually, You can 100% blame the boomers for this. Many empirically based books have been written on this exact subject. I suggest you do some actual research rather than simply state your opinion. hmmmmm, I just realized that you might be a boomer - in which case it's IMPOSSIBLE to reason with you. If you are, I'll just say: Okay Boomer.
@@Recuper8 😂
I definitely blame the boomers and the generations before them. Now African Americans are choosing to leave America, I also believe its time for us to go, these wyte people fd up this country.
America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
Every day we have a new problem. It's the new normal. At first we thought it was a crisis, now we know it's a new normal and we have to adapt. this year will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned 180k savings to turn to dust
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I think the work hours are lies. There are people out here working 2 jobs, 1 full-time, 1 part-time, or 2 full-time in order to survive. Working 2 full-time jobs would have someone retire in their 30's or have a business, but at this point, people are killing themselves for nothing.
Something I’m going to find interesting is in 16 years the U.S is going to be particle run on immigration and I wanna see what the people think then
@Forsakenruler Yeah with a devalued currency it will be nearly a 3rd world country. Infrastructure is falling to pieces in democratic ran states I wouldn't doubt that Republican states would begin to separate from the union and start a civil war. It'll be states vs states since the government is spending us into the dirt and people don't want to fight for the country as a whole anymore. Enlistment and morality is at an all time low. They'll start conscription and exploiting immigrants.
@@Forsakenruler I had a stroke reading this
@@永-u5x you mom was choking on something long and thick
Yes I work 50-60hrs a week just to make enough $ to not be immediately broke after paying rent and utilities
I'm gen Z in japan 👍
I think developed countries are in a similar situation.
A negative cycle is inevitable : pessimism about the future leads to decline in the birth rate , which in turn increases the burden on the young ,which in turn decline in the birth rate.
In addition,Japan has the problem of lookism, geopolitical tensions
Lets all run away together into space😂
Not developed countries. Western countries and Western vassal states like Japan and South Korea have these problems due to shared political polarisation that has divided your societies. Your terrible neo liberal policies that have hollowed out your middle classes and concentrated wealth in the hands of the top 1-2% of your societies. And your increased being put at odds with the majority of the world (the so called global South) with you all following America's disasterous foreign policies. Policies that are increasingly making the majority of the world dislike you and not have any interest in your business. The majority of the world that has high birth rates, young populations, and high growth that you Western countries desperately need as future markets and customers for your products.
The American empire and its vassal states like Japan are digging their own graves.
I lived in your country for almost a decade and personally think the birth rates are so low because of its horribly toxic work culture. I wish they would have made adjustments in the '90s.
Oof.. I just saw what happened to your Japanese stock market today. How is it going over there? Does it feel like a crisis?
Not only developed ones. I’m from developing country same is here.
Every country that follows America's finance capitalism. 😳
Boomers: Young people need to work hard and buy a starter house like we did
Gen Y/Z: Can we build small, affordable homes near your community, or would you sell me the starter home you own?
Boomers: Oh my god, no. You're gonna take down my property values and ruin the neighborhood. Don't be selfish.
Gen Y/Z: can we get raises so we can afford homes like you?
Boomers: No, you make far more money than I did at your age, just work harder
Gen Y/Z: Our money has very little purchasing power compared to yours
Boomers: Buys up the affordable homes and rents them back to Gen Y/Z for the price of a mortgage. Votes for more retirement benefits. Gets mad at young people for not paying the rent on time.
Gen Y/Z: Can we get some help with social benefits like you get with medicare that we pay for?
Boomers: Oh my god, are you a communist? Votes for tax breaks for wealthy Americans and corporations. Increases taxes on Gen Y/Z. Buys more property and votes for social security increase. Complains that healthcare is too expensive, so they need to raise income tax to compensate.
Boomers: You need to get educated
Gen Y/Z: It's too expensive
Boomers: Not my problem. Prints dollars for war. Collects GMC pension from 40 years ago.
Gen Y/Z : Can we get pensions?
Boomers: Oh my god, are you a communist?
Boomers: Talk about their vacations and adventures
Gen Y/Z: Can we get vacation and sick time?
Boomers: oh, my god, are you a communist?
That’s their favorite buzzword
it’s so sad but so funny lol
Lol the communist comment is such a typical bigoted boomer excuse every time young people want the same entitlements.
Interesting
I'm fully convinced that 90% of americans who use the world communist doesn't know what it means and just label it on everything they dislike.
It's basically a case of 'wait and inherit something from your parents then your life can start'
Except, if you're lucky enough to have parents with a house, it still be sold to pay for aged care and you'll inherit nothing. If you do receive inheritance, you will be in your 50s or 60s when you finally get to have stability.
You can't start a family in your 60s can you. This is a global problem, greed is so great that entire generations can not afford to continue the human race 🙃
What about all those illegal aliens who traveled illegally through Mexico by caravans; they are breeding anchor babies in the United States hoping to become a United States citizen but they are not earning any more than the citizens of the United States!
When a woman is 30 years old the possibility of having children is 50%.
And the fertility window will close at age 45.
Then go and take care of your parents so that you can inherit the house
What if my parents are also struggling and I may not be able to inherit much if at all from them
And then there are those who don't have parents with assets. The financial burden of taking care of your family (mother and father) falls onto you with absolutely no assistance. It's a pretty interesting situation we're in
In which western country DO young people have a future? I see none. I'm german and we have the same problems as well as every other wealthy european country.
Same thing can be said about India as well. In my home state in India, my parents bought a plot of land to build a home for $1000 and now, it is more than $100,000. No young person can buy real estate to build a home now.
I think you are in with a chance, IF big IF, you need to be hitting top 10% of income earners by the age of 30 and that job needs to carry you for at least 30 more years.
Everyone else under say about 35 in 2024, is well screwed unless, you really basically NEED to be getting an inheritance at some point.
argentina
There are statistics on which countries treat their under-30s better or worse. There are a lot of different numbers to consider - some countries spend more tax revenue on health care and pensions for older people, while in other countries older people who own real estate have jacked up rents to make young people pay for their needs that way, or shareholders have suppressed wages growth in order to give themselves higher dividends, for instance. But if you look at the comparative median net income after tax, rent, education, and health care expenses, of the different age groups in each country, you'll be able to locate the countries where younger people are getting a less brutally unfair deal.
As a bonus, by voting with your feet and working and paying tax in a country that treats you with a bit more respect and a bit less exploitation, you will boost that country's economy so that it can give you and those who move there after you an even better deal.
Dutchies : Please guys, hold our HEINEKEN 🥃
So many young people feel that they can't start a family or move out due to high Cost of Living. This is the downfall of this nation.
America truly sucks if your young
Currently 24 years old, sister didn't want me at the house anymore because I was paying $500 in rent while paying $600+ for fucked up car payments + Insurance. Working at Amazon warehouse that pay $15 an hour and treated me and the workers like shit and hated it, quit after 7 months and living with long term friends house for a few months now and desperately trying to get a job to pay off my debts and to be on my feet. Currently have -$25 in bank account and barely have any gas in my car that might be taken away soon (It's a fucking Mazda2 that's $6K... I know it's fucked up.) because I HAVE NO MONEY TO PAY THE GOD-DAMN BANK WITH NO JOB YET! If I don't have a job soon I may off myself off this planet. Nobody fucking cares.
@@haaxxx9 keep er goin, if you have clothes and food you are still up on many others.
@@haaxxx9 which state do you live in?
@@FinanceWageSlave Ironically enough Texas. "It's a great place to live!" No money to go to even a trade school again and I did join the army before but got discharged for depression. So I am pretty much fucked at this point. Not smart of hold any degree to myself so I am good as dead.
@@haaxxx9 From the most screwed generation alive today (Millenial), Let me just say you are SO Lucky to be only 24 yrs old in this situation... for more reasons than you can understand... 1 small reason is based off of a problem you mentioned having in your previous comment: no money for *Trade School* - Good News is you can still get FREE Trade School (Job Corps) but you have to HURRY like hell & apply _Before_ turning 25 (thats the cut-off age for acceptance into their program).
Google the number & apply asap, once your info is in their system YOU get to choose Which Campus/Location you want to be placed at, & they'll even pay for your plane ticket if you choose one that is out of state.
Look them up (Job Corps) on youtube & see how you feel about it & the Trades they teach/ programs they offer - ALL Free with no paying anything back at all.
Side Note: _Different Campuses/Locations, Different kinds of people you'll be around but thats like anything else in society so as long as YOU stay focised on your career training, stay out of drama & most of the social atmosphere, you should be fine._
The fact of the matter is that the economic boom that played out after World War 2 has finally played itself out. For those of us born during the early '80s, a decade when the American Dream was at its height, we have had to sit back and watch as our economic futures were slowly eroded away by changes in technology, finance, politics, and demographics. It's little wonder why so many Millenials and Gen Z either stay single and/or remain childless.
If you were born in the 80s you are a millennial.
@@zephyrr108 yep. The oldest millennials.
I'm 29. I tried to have a family twice. Both times, I got screwed over. I'm done with it. Lost my house right before covid and been living with my folks, since. I work as a full time mechanic and still can't afford rent prices around me. Even if I could afford $1k a month for a private room, they want proof you make 3 times that amount, which I do not. It's a damn joke, anymore. Sick of this rat race crap.
@@654Crossman what, you dont even break 3k a month as a fulltime mechanic? thats kinda crazy
@@Truther945 yup. Ganted, I don't work for a dealership. But still. I'm honestly thinking of switching trades, for full time work and working on cars as a side job.
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
Just get a financial planner straight up! personally, I would invest in etf and also love investing in individual stocks. yes it’s riskier but I'm comfortable in my financial environment.
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings?
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Work hours should be less because life should be about having a life, not job. No one can ever enjoy life.
Some people really enjoy what they do. That's also a big part of life. I've meet many people that loved working and worked long hours. They weren't hourly people but in some type of corporate profession. Like IT, Accounting, Sales, Law ect....... I know it sounds hard to believe but I saw it.
That’s why people used to say “passion over money.” Obviously, that’s just stupid because you need money to live. However, that’s not what the quote meant. You have to choose a career that you are really passionate about and one in which you can make that income to provide for yourself. People associate this with art, but I literally hate art. Manual Labor, skilled trades, and engineering are examples of that “passion.” If you do what you love, it doesn’t feel like work. Any career ever can be like this, and they can still provide a liveable paycheck.
Study Bitcoin and you’ll see how deflation is actually natural as things become more efficient. Inflation is the devil keeping everyone unhappy and poor
Never Say NEVER 😎 Justin Bieber
The trick is to pick a job you love.
I think the big problem with housing is more and more people are seeing houses as an investment so everyone is simply buying to rent or flip. They dont buy to live in just to make money off of.
As the video mentions. Thousands and thousands of single family homes are constantly being purchased by singular private entities with the purpose of driving up housing prices, and securing forever renters
yes. In Denmark anybody in the world can invest in property, if you're a chines billionaire you can own 1000 houses. there is ZERO % capital gains on house flips, its the only easy way to get rich. the average home here is a bit over 1 million dollars, despite the fact that our governemnt spends a shit ton of money on making more affordable housing.
the reason why its not stopped is that over 50% of the population owns a house and doesn't vote for anything that will stop their greed.
Ohh trust me bud, they don't even fix the houses right either. They just do cheap labor and make it look new enough, so when you buy the house outta nowhere, something breaks.
@@mylifeinshorts22and the remodels don’t even look rustic or homey, just dull and sterile
My once small town has been growing so fast, and every day I see new massive apartment complexes being built. But the worst part is they're as far from affordable as you can get.
those apartment complexes will be filled with illegals imported to replace the native population
Greedy corporations own our weak government.
As the govt floods us with immigrants
I really don’t think it’s companies though. There certainly are some but half of what he’s talking about is government overspending. Student loans got so bad because they are to government protected which means companies have an incentive to give them out to everyone at the highest qualities at the worst terms.
@@BF4ClanTBSwhich was literally caused by corporate lobbying, and then corporations intentionally manipulating that student loans are government backed in order to jack up tuition rates to maximize profits? Literally still corporations lmao.
@@orangemanbadnot even remotely true, or the issue. If anything, historical, tougher immigration policies harm our economy greatly and lead to more illegal immigration.
Corporations masquerading their political agenda as humanitarian efforts. They’re a pencil-pusher away from owning the monopoly on violent extortion. They attempt to organize forced behavior.
I find it weird that a lot of older people advocate that voting will fix this issue, but how will it? No politician is focusing on bettering the position of those under 40 they would rather cater to the over-40 age bracket. There is nobody to vote for to change the system for the better. It seems like young people are just supposed to wait and have the can be kicked down the road until the current older generation passes away and then when we are 60 for the first time in our life we can be cared about.
Unfortunately, as well I think the issue has gotten so bad that there is no way to make both parties happy one has to take a hit so the other can get a bump.
Lemme guess, you demand your student loans be "forgiven" like a typical entitled child?
@@JoeBlow-fp5ngplease point out where in is comment he mentioned student loans? Where exactly did that come from?
Well there's on candidate who is doing a lot more than the other. Clearly Democrats care more than Republicans.
@@Worldofourown2024 I'm also in my 50s and never been more wealthy and I'm confident my retirement is well-funded. I'll retire by age 57. Maybe you made horrible life decisions. Stop blaming others for your failures.
@@JoeBlow-fp5ng That's ideally how it's supposed to work. Yea, I did by serving in the military, going to college, and by being a teacher a number of years. I don't blame you for my failure, but I blame our rigged economic system and political chaos as well as speculators like Blackrock. The sovereign credit crisis, collapse, and civil war will be coming.
This is why young people think this country is going down the fucking drain 🤬
because it is
Because it is.
@@michaelramos2121 real
Because it did
The "work week" got shorter because Obamacare mandated employers provide insurance to those working full time so employers just shortened the week so they wouldn't have to pay, leading more employees to need to offset their wages with a second or third job. They didn't get lazier.
obamacare made the best for the seniors
Got smarter. Not lazier. I agree.
So much stupid in just this comment section alone. Not one wonders why healthcare should have anything to do with your employment to begin with.
@@yellowyata774 Why not? Who is supposed to pay for your health care then? I suppose you think someone else owes you something and should eat that loss.
Nah, an entire generation of millions of people are just lazy. /s
This video doesn't add to the fact about being lazier is that full-time jobs have become less desirable to employers and changing to part-time and tipping jobs are on the rise.
This is partially true. The other driver of reduced hours is productivity. Each hour of labor is more productive now than ever.
Thanks for sharing :)
@@2and20 in the USA employers do not have to provide any benefits (ie healthcare) if the employees work less than 35 hrs/week
this video is trash
I think both of them have pros and cons. Full-time jobs in good company will provide stability, and good benefits (mostly). While part-time and contract might give you a lot of time and might be nothing, all things from the benefits will need you to do by yourself.
@@LouStewel-rd7poexactly so many not receiving benefits or a decent wage.
In the past, when there was no political will to solve inequality, people resorted to revolution and civil war.
can't do that if they are drugged up on public filtered / spring water
@@MrEpicAndroid It’s not that. The average person is an obese 🐄 dependent on Netflix and Coca Cola. 😂
people are afraid to do any revolutionary action because look what they did to MLK, Malcom X, Fred Hampton
not going to happen in the US, whoever thinks that way is lost beyond repair
“In the past..” it still happens and will happen again. You can’t stop history. 😂
Because the old Americans have spent the future of the country recklessly accumulating unpayable national debt. Yet still sending money to other countries and countless wars that aren't related to Americans. All policies passed by old generation law makers. Sad.
the young must overthrow the seniors
Fed @@EternalChairmanDev
I believe 99% of these old ppl leaders politicians from both sides got no idea even on how to convert EXCEL to a PDF file on a computer. And yet, indeed, they are leading the country. Same thing happens around the world. but for young people, if you don't know how to use a computer, you even can't get a job.
@@EternalChairmanDevI’m with that comrade! 🎉
Keep in mind that when America gives money to other countries, it all gets funneled right back into the pockets of American corporations. For example, the billions of dollars sent to Ukraine by Biden for weapons went straight to companies like Lockheed and Northrop.
I work 50 hrs a week to barely hit 50k
7 days a week and i’m not even breaking 50k
I work close to 50 hours a week for around 30k in Houston, Texas with a BA. I live pretty cheaply and don't have a wife or children because I couldn't afford them.
@@jerryrichardson2799 brother i also live in houston what degree makes you only 30k you got robbed i made 30k a year at 18 working fast food
@@jerryrichardson2799 i’m currently in college i go to tsu and im making close to 45k a year with no degree how is that even possible
Same here
I decided not to go to college as i thought it was a complete waste of time, glad to see i was right and sad to see all those that thought they'd get a head start to only be saddled with debt before they even start their life.
College is full of conformist slave moralists. Build your talents and career opportunities by working. If youre not a doctor, lawyer, etc, dont attend college
Same boat as you bro, all my buddies went to college I think a lot of people do it because they would rather go enjoy themselves for a few more years than actually have to grow up and start paying bills. I started working at a local factory making not bad money working with dudes who literally had degrees and it didn't work out for them that's when I knew wow I'm glad I didn't spend all that time and money on college. A pretty small percentage of people that go that route are actually gonna have it pay off.
You just need to be smart about what you pursue. Millennials were told any degree was worthwhile which is just not true unless you're already rich. I majored in accounting and my husband computer programming and we're doing really well in our careers.
The answer isn’t red or blue my friends💜
But is it Green?
It is BTS 🤣?
Vote trump nov 5th
@@realabhinavarya You completely missed the power by of this video, and I will not allow your political propaganda to take over this comment thread.
It's god but you need to vote trump
It really meeds to be against the law for those big corporations from owning 100s of millions om singly family homes. They should only be able to invest in apartment buildings
So true. Because as we all know, there's no way new housing can be built to make buying residential real estate less appealing for PE firms. A FULL BAN ON FREE MARKET DYNAMICS IS THE CLEAR SOLUTION 🫡
That's capitalism for you. As long as you have the money you can buy it.
They should only be able to invest in new units and be able to charge for them for a limited about of time, maybe 50 years or some margin above amortization.
end retirement
This. Only allow actual people to own single family homes, and have a vice tax that scales up when people own more than one per person, or own a habitable dwelling that is sitting vacant. As a side benefit, all the investment money driven out of the single family home market will then push for building more apartments.
Apartments aren't something a sensible person wants to own one of - when the building gets worn out, it has to be demolished, and your capital value is demolished with it - but a corporate owner can handle the process of demolishing the old building and building something new. Apply a really punitive vice tax on empty dwellings so they *want* people living in all those apartments even if they have to discount the rents to make it happen, and we should see rent prices drop.
THIS SHOULD BE THE NUMBER ONE TOPIC FOR THE 2024 election🤦♂️🤦♂️🤦♂️🤦♂️🤦♂️ not abortion, not immigration, not foreign policy, none of that bullshit matters
Wow, this is what we’ve been saying for the last 80 years.
Immigration will tie into this.
True but immigration pays a factor They will use them to increase the votes for democrats to keep these horrible policies in play
Immigration is the reason. Adding 20 million people lowers wages and rises housing costs
Immigration is actually a huge part of the problem. Without Immigration the population and thus demand for housing would decline.
It's basically a scam to maintain prices 😅
Maintain? Prices are going up by the month!
That 123 trillion number is absolutely frightening
The point is none can even dream of fixing it. Slavery by debt.
It really isn't. It's such an astronomical figure that any reasonable attempt to pay it off would immediately bankrupt the US, so it will simply never be paid. One day the US dollar will be found to be worthless, which will wipe out the entire debt. Maybe a new currency will take over, maybe the population will be forced to return to subsistence farming, who knows.
Nothing failed, it was designed that way on purpose. By a small group of individuals. 🙄🤮
It's not about new housing production being too low, it's about existing units sitting empty because of greed. In 2022, there were 7,700 people living in shelters or on the street in the city by the bay, according to city figures. Meanwhile, there were more than 60,000 vacant units.
This also has to do with zoning regulations and a strong preference for single-family homes.
The lack of new construction due to zoning encourages hoarding of homes by investors. Investors know little housing can get built so they invest and hoard even leaving things empty. If zoning allowed housing to get built investors couldn’t count on guaranteed real estate returns and would invest in something else releasing more homes on the market.
Lower the price and it will sell. Simple. Oh that’s right that’s socialism
How long were those 60k units vacant for sweaty???? IT'S ALMOST AS IF THE MARKET DYNAMICS CHANGE OVER TIME 😳😭🤗
@@oreo507 Even if only 8% of those 60,000 units were vacant long-term, it would be enough to house all the homeless. I guess you're as bad at math as you are at spelling, SWEETIE. 🤣
If you're going to try and be a condescending troll, you should actually know something. Or at least spell your insults correctly😳
No, it is scumbag investors and corporations holding empty homes
You will own nothing and be happy.
Rise of tent cities, RVs, and tiny homes!!
I’m 43 years old, have a masters degree, and have worked at least 40 hours a week for two years in a supermarket. I still can only afford a one bedroom. Thank God I don’t have kids.
Your masters degree was in what? Something utterly pointless to society, it seems
@@eightlights4939 you sound like an extremely unpleasant person
@@carolinamontiel2525 Uh oh did I find another person who wasted their time and money on a useless degree?
@@eightlights4939maybe save your words for when you actually have something to say
@@carolinamontiel2525Dont give them your time, its just one of those rage bait haters. They just try to feed off of any attention you give then
I usually worked as a software developer for a small startup i was living paycheck-to-paycheck, Don't have much mone or pursue my dreams. One day, my friend introduced me to Ms. Susan Jane Christy
wow this awesome 👏 I'm 37 and have been looking for ways to be successful, please how??
It's Ms. Susan Jane Christy doing, she's changed my life.
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my son's surgery (Oscar). Glory to God.shalom.
I do know Ms. Susan Jane Christy, I also have even become successful....
Absolutely! I've heard stories of people who started with little to no knowledge but made it out victoriously thanks to Ms. Susan Jane Christy.
I interviewed someone with 2 masters in science for a $20 an hour job. I have no degrees, became a manager through working my way up. How are we going to save the new generation from all this school debt? We are wasting them, so talented but could do better in another field that fits their degree.
There aren’t as many specialized opportunities as there are people with advanced degrees I’m afraid. And employers are less willing to pay to train employees, so it is up to prospective workers to pay for their education and training through university, certifications, vocational school, or expensive networking opportunities. Hard work is often a prerequisite for success, but hard work does not imply success. Meritocracy is a myth.
I have a high-school diploma and a apprenticeship and I make 200k a year working as a plumber for a laboratory/university no debt
@sancho2005 Smart move, keep at it brother! Build that generational wealth. it's people like you that keeps other going. Motivation over jealousy 🙏
Have to stop pushing college is a must for everyone. I went to college for engineering, Ive already returned on my investement within 4 years of graduating. But there are so many useless degrees that young people go into because they feel they have to. End up with 250k in debt and no better qualified than a highschool graduate
I started working at a local manufacturer in 2022 when I was 18, within 2 years of working hard asf miserable hours I went from 15 an hour to 20.40 an hour. I work with people in their 40s who are still paying of college debt meanwhile I'm 18 still kinda living off of my parents with very few bills.
the median home prices in cities where people live and have jobs is actually 9-12x the median salary.
Also the problem is not the lack of homes, it's companies and rich people buying them out.
It's NOT supply and demand. I'm in a country that from 1990-2023 went from 10 million to 6 million population. During that period we have built so many homes that now we have 3-4x more homes than before. With all that you'd think that they are cheap right? Nope, in the 90s the median home, which back then was 74m^2 and now is 48-51m^2, went from 2-3x individual median salaries to 9-12x... let that sink in.
Companies are buying out homes or straight up building them, and they artificially price them based on what loan 2x median incomes can for the median home and then they scale it based on size, year of construction and location.
And the politicians won't do anything about them, because they are either one of the owners of said companies or have heavily invested in them, or just own a lot of real estate themselves.
Especially us who was born in the 80s and 90s there is nothing left
Yep I was just becoming an adult when the 08 crisis hit. I watched how nothing was done to change the system. It became clear the game was still rigged. Now I try to live cheaply as possible, to maybe retire at age 70 or so.
So your saying we need to use our 2nd amendment to change the United States
YES YES YES WE DO WE DO
I’d be down for that.
Exactly. The Jackal said the AK47 is the great equalizer.
Young people let’s start doing something. Let’s start creating the chaos that they hate. We need to start voting for the right people for us. It’s us against them.
Yess let’s start a rebel group in a UA-cam comment section
No need to rebel, Tribe up, abandon Americanism and form Clans.
Let me guess the right people to vote for is the Red...the Blue? 😂
Imbeciles fueling their political agendas.
@@jazduh1235 I agree with both messages 💀
if voting worked it would be illegal
Ban PE from purchasing living accommodation.
Good luck! You have everybody from the Kardashians to General Petraeus invested in that scam.
Their not
Back in the days, even with low income can afford to purchase a house due to the USD purchasing power was strong, and very low government debt.
Now, a low income bracket is below 70K, and still cannot afford to purchase a house, due to US dollars has declined dramatically its value and a massive pile of debt.
When the government has no control of printing money, as if money doesn't lose its purchasing power.
70k isn’t low income unless you’re talking about NYC and Cali
The reason why we have problems with Housing is not really the zoning laws. It’s corporations and real estate investors buying up all the residential housing!
Point taken, but single family homes are on average more expensive to build per unit. More expensive to maintain and heat as well. With heating, a single family dwelling needs more energy to maintain heat from four sides exposed to the elements. A townhome needs to maintain heat for three or two sides exposed to the elements.
I truly feel very sorry for the young people in this World. The older generation has created this environment out of pure selfish greed and little thought or care for our young. It disgusts me.
The day of the pillow is fast approaching, the biggest wealth transfer besides Covid is imminent
Don’t worry. When their bell chimes and they lay in the hospital bed. They will finally realize all that money they hoarded means nothing to them now, and now they need to answer for their sins.
It’s not the broken generation. It’s the work two jobs to be Broke generation.
It's most of the world. US average salary to Real estate price is still A LOT more reasonable than in big cities in Asia.
This is very true. As bad as things have gotten for young Americans, it’s still very doable to buy a home if that’s your goal. In manny paces in Asia, it’s mathematically impossible for a married couple to do so without help from family on local wages.
Japan is pretty affordable though.
Well no shit Sherlock. Maybe compare what we pay in big cities not the national average. You think that is exclusive to Asia?
From the outside looking in, America seems like a scam to me. I'd be desperate to leave if I lived there.
it is. most of the silly immigrants who come here, end up marooned without a job and homeless. legal or illegal. most of them end up at the bottom of the barrel in society.
Make your money here then leave
america goated when it comes to game servers tho u be getting low ping
@@_fuad That's how they really hook you into staying. Those damn upload and download speeds are wicked.
Not really I mean people think it’s some utopia but everything is about making money I mean medicine, housing, education, pharmaceuticals, food to name a few they just lie to you about what is “good for you” and you come out burdened with debt missing a limb
It's a bit comforting to be reminded I'm not young nor having any kids. I'm in my 50's and poorest I've ever been. There's no hope with this debt based speculative financial economic system with a hostile work culture. It's impossible to have a solid professional career and stable employment or even a business. It's impossible to buy a property. It's impossible for me to even own a vehicle. It's hopeless.
Stop spreading doom.
@@jason8ificationThis corrupt and unethical system is spreading the doom.
Glad i'm not the only one struggling.
@@Amerikranian About 65%
Oh well, we will have a drink anyways
How much have large funds, “charities” and corporations buying up available land & homes affected all of this? I’m a black 23 year old man, most “boomers” I know aren’t sitting on acres of land and not trying to share.
Same everywhere, not just in the USA. And in fact, USA is still one of the best places to live.
Ya we still got a decade or 2 before it becomes unbearable
one of the best places to live if you've got money or is 60+ no doubt
I agree, usa is the best place to be IF you have money. without money, it is malaysia
@@DeadSilence27don't worry i think trump might manage to collapse this whole thing in just a few years 😂
As a 37 year old I remember three years after I graduated highschool there was the 2008 housing crash. Like anyone I saw this opportunity to buy a house for the cheap. When I went to banks and tried to get a home loan the lowest they would offer me was $300k and at a fixed rate of 6%. Ripoff and a scam. So I thought I might just see about going through a mortgage broker and realtors. Realtors REFUSED to sell their houses because they wanted to wait for the prices to go up and mortgage brokers wouldn't even talk to me unless a realtor was present. All I hear from my generation is that housing was never an option and sadly that has been passed onto the next generations.
At this point I feel like the only reason why I’m doing slightly ok is because I don’t have students loans
For me that, no car payment and no kids 😂
A lot of older people have been left behind, as well. My sister and I have degrees and have worked nearly all of our adult lives with nothing to show for it in my case and a little in my sister's, we're late Boomers. My sister has done better than me but she's worked much harder than I have and she goes around in pain 24/7. She just had a shoulder replacement, wears a knee brace, and has to go around with in a walker or wheelchair when she travels by air.
Historically young people in the U.S. don't vote in local elections or in general. Young people generally don't participate in politics or the political process. The people who get elected reflect those who participate in the process.
Young person who’s always voted and did their research, the elections are a joke and you choose from a curated list. I rather have one of my old teachers as president, think he’d do a great job, never gonna happen. We gotta choose an old rich person who’s so beyond out of touch it hurts.
@@13bunnylove13 Local elections matter more than national ones. And it's not enough for a few random young people to vote. You need large numbers to have influence.
We The Sheeple. Voting doesn't matter. It's been proven that we live in something more closely resembling an Oligarchy than what You think we are living in. Yeah, keep voting, see what that'll do for ya. Sheep
@@Recuper8 That's true on the national level more than the local level. Also, no need to name call. I haven't disrespected you.
You need to flip this system, it's as far away from democracy as dictatorship, the mainstream media is bought.
If you have a mortgage you do NOT own your home.
You do own your home depending on the percentage of the downpayment just not the whole thing.
If you pay property taxes you do NOT own your home.
@@Truther945 So when you pay for registration and the plate for your car every year - you also don't own your car? Or the income taxes you pay on your labor - does that mean you don't own your labor too? This is the illogical hyperbole of the libertarian right.
@@vmoses1979 Huh?
@@vmoses1979 We own nothing, if we don't pay our taxes then we lose rights. Car taken away even if we own it, house taken even if you payed all 400k of those bills, and you owe money to the IRS or else you go to prison.
These problems will only worsen as time progresses because the needed solutions to them are nowhere in sight and are already decades late.
Solution is giving up on dreams. Something impossible.
my advise to students. Do not take student loans even if you are not 100% sure that you can repay it. Instead, go to other countries. There are many universities and colleges in Europe. go to japan or India where you can get the same level of education by spending the fraction of what have to pay in USA. you should not start your after college life with debt.
I hear many professions don’t accept foreign degrees on some fields. Then someone told me that if you have an American degree, you have a degree everywhere. I’ve never been so close to giving up, I’m exhausted from student loans.
Yall should check out Mexico City , Guadalajara , Querétaro in Mexico . University is cheap and in central Mexico it’s pretty 1st world , one of the safest areas of Mexico and if you know English you can pick up side gigs
The degree may not be accredited, though. People really have to research if their degree will be recognized by employers/organizations.
I did just over half my undergrad in the US (2 year school + large state school) and the rest in China on scholarship. I graduated without loans, but I only made it work by majoring in a language and testing out of a lot of the US coursework. For grad school, I chose a British uni with a campus in China, so I didn't have to worry about accreditation or spending more than $10k on my advanced degree.
Most jobs fromy personal experience dont care about degrees. Even if they do, you can start working in say mexico and then bring that work experience with you to your home country. After your first job your degree becomes irrelevant. @@gaoda1581
India? Getting into Indian universities is extremely competitive and their degrees won’t land you a job back in the US which is why so many students in India go abroad
Yep as a young adult I gave up on the American dream. Doing whatever it takes to play the system instead of letting it play me!
Can you teach me the way!🧎🏼♀️➡️
Being a hustla is the only way to go.
My girlfriend signed up for 2 classes for fall semester at a community college and it cost her 1400$.
No FAFSA?
@@ryan6600 nope
@@koi3481tell her to claim all her classes and textbooks on her taxes since she’s paying out of pocket. You should be able to get a 1098-T from the school, keep all the receipts from everything. Should be able to get all the money back.
wtf my community college writes off my tuition… and even then it would only be $650 for four classes. that’s messed up.
Tell her to fill out a fafsa next time and also apply for any pell grants or scholarships she can. Don’t take out loans!!!
These are the people telling you they are against student loan reform, minimum wage increases, etc.
I'm not proud to say this, but as a builder in southern California, we stopped working for middle-income families years ago. The cost of labor, insurance cost, liberal-run government, high taxes and the length of time spent trying to get permits or meet requirements. Is not a middle-income family budget.
The American dream has been shut for years like a giant bank vault with a thousand bolts.
There’s no gold in Fort Knox
Bidding wars are illegal in France (the house costs what it’s listed or less) and energy inspections are mandatory before you can even list your house for sale… just an idea 😊
Building more supply? Ridiculous! We clearly need to add more regulation 😊
Bidding wars illegal? How will owner decide who to sell to if 10 buyers have the list price?
@@vmoses1979 what do you mean? :) just pick one?
@@Andreabay90 haha. I guess in North America - we 'figure' out who really wants the house by making them offer their best and final. And then you take the highest one. It drives up the price but it seems like a fairer way of determining who gets the house rather than some random reason.
Yeah, to hell with that. 🤮
This is why im just going to move off grid and not deal with this bullshit.
Makes me think that may be the only option. Learn how to survive and live off the land.
There’s no way to truly do that, you will still pay property tax
@@dingus6317that’s the funny part. When people say “if you don’t like it leave” where can I go? 😂 or if they say “without taxes there would be no roads, bridges, etc.” ok so if I don’t wanna use them can I stop paying taxes? No…
@@johncol5974 We even have to pay to renounce our citizenship. Most don't ever really think about the implications of all these things, we are basically tax cattle debt slaves.
@@johncol5974 "If you don't like it leave" is such a tired regurgitated rhetoric, you know immediately the person saying it had to take lessons to learn how to breathe through their nose.
That is what I always say to everybody..."You say nothing"! In other countries in Europe, people go on the streets and demonstrate, block cities infrastructures and "go wild". While that is sometimes extreme, it helps that government changes things for the people. In the US, we go on the streets when another mass shooting happens that we forget about a week later.
This would be a valid comment if the BLM movement in 2020 never occurred.
@@Cosmo_P0litanidk the way people reacted to BLM and protests against oil companies make me believe that either we radically change the way we look at protesting or we slowly perish while keeping our heads low
in Europe those movements usually have some union or political organization behind it, nothing changes if that leverage is missing
Well regarding the Housing situation, the US has an incredible problem regarding zoning laws and the design of cities itself. The Car centric culture as well as the focus on only single family homes and no mixed used neighbourhoods is a nightmare.
No, the problem is Biden/Harris allowing 15 million illegal immigrants into the country in the past 3.5 years. Illegal immigrants compete with you for jobs and for housing, keeping wages/salaries down and housing costs way up due to massive demand.
Even if you stick with single family homes, there are a lot of ways to do that better. The traditional English terrace rows could fit a lot of families into a small space, but they each had their own front yard and back yard (even if these were tiny) and nobody living above or below to be thumping on the floor or ceiling and complaining about the noise. If the wall between each dwelling and the next is satisfactorily fire resistant, it's going to block a lot of noise as well.
I love the English terrace houses. They’re cute and practical but apparently the English hate them because they tend to be older, or something.
@@magesalmanac6424 Older buildings are a weird mix of better craftsmanship and worse design. On balance, I'd like a brand new terrace house as a suburban norm - one built to passivhaus / net zero standards for energy and comfort, but also built to last the way older buildings were, that most modern buildings really aren't.
9:13 also, student loans are government guaranteed, meaning colleges can charge more give out more loans at no risk. Get government loans out and prices would go down
I agree that this likely contributes to higher tuition prices; however, the price could not and would not fall materially, in my opinion. The operating cost of most of these schools is extremely bloated, and they would do whatever is possible to generate more revenue, before they cut costs. In Canada, for example, they have relied on international students and special programs via companies like Navitas
34 hours????? Wow i cant even imagine anything less than 50 hours
My hours got reduced from 38-39 a week to 34-35 a week. I have more time to live a life and/or work on my business, so there's that.
I was expecting some socialist apologetics. That being said, this video pleasantly surprised me by laying out the situation pretty accurately. Thumbs up.
honest to God its time to nationwide ban nimbys
I’m 26, in college for computer science. Even with my degree I feel like I’m never going to be able to buy a house or have a family. It sucks
"everyone had a shot at the American dream" is a wild statement. Missing so much context
That’s down right false on his end, many people were limited because of poverty and discrimination
Yeah to be fair that would make this video a Looot longer haha
@@The777brown your logic is stupid.
@toxicphoenix_ the vast majority of millionaires came from poverty.
It was a lie all along
Our Capitalist system is working just fine as intended, designed to make the rich richer, and the poor poorer until the entire society is broken.
Over 50% of economy is government funded, the healthy sectors most separate from it have deflationary industries or industries that excel on quality and speed. None of that is true in the Keynesian government interfered sectors, housing, education, healthcare etc..
True free market systems will lead to inequality based on who individuals choose to spend their money on , this type of inequality that we see, way more correlates with who is connected to the government class/ contracts, benefits from regulation and inflationary spending, robbing the purchasing power of particularly low to middle income earners.
Yea might as well give up right? More housing for me!
@@oreo507
Found the Sociopath.
Capitalism doesn't advocate making people stupid. You want jobs, first Start preferring hell expensive american goods over cheap asian imported goods.
@@conorobriencoaching I agree and I am mostly free market and conservative. But I think we need to desperately figure out ways to get median wages north of 50,000 dollars and improve home ownership, or we are headed toward extreme radicalism.
San Francisco Bay Area:
Spent all my time and energy working my way through college(sleeping in my car) to get my bachelors degree in Business Marketing. I finished a digital marketing apprenticeship a year ago with client experience and internship oppurunities. I’ve applied to 500+ jobs , a lot of them with personal job referrals, and got declined by 490 of them, the other 10 were either underpaying, lying on the job description, or trying to make me want to work for commission. Everyday I’m one mistake away from being homeless.
What they do is change the job description, jobs that used to be 1-3 years of experience entry level are being edited ✍🏿 to 3-5 years of experience leaving everyone else in limbo or purgatory. Not to mention we are battling people with 10-15 years of experience.
What an awesome video, the production values are off the charts for a channel of your size
Thank you! Means a lot to a tiny channel like ours, please subscribe and like if you haven’t already 💪
Yea, good one for few talk about debt and debt based economic truths. And the fact it requires a masters degree and 300 years experience to get a job that should only require a bachelors degree. The degree just says one is capable of learning more and has math, English, and tech skills. No employer would allow me a stable long term professional career. I'm early 50's now and can't get a job despite having no criminal background issues. I have credit score issues and gaps in employment due to many temp jobs. I guess it's a competitive market so much so I'm out of my league for there are big data centers around where I live along with tons of industry. Utah is booming, but probably way out of my league. It's a hopeless system.
Boomers are to blame
I would counter that the whole Boomerd vs genz/ younger Generations is just one Facade of the true enemies, pitting us against each other.
The same with men vs women,
"woke vs conversative", race against race.
You must open your eyes and realise who the true enemies are which suck everything out of our economy.
We live in a society where the people that make 700$ per hour have convinced the people that make 25$ per hours,
that the problem are the people that make 12$ an hour earning too much 😂
It's not because of U.S. or every Western Countries. It's literally every country in the world. Singapore is clean and beautiful, but if you live there you will pay heavy prices. South Asian countries? They don't pay enough for the people. East Asians? They are expierencing decline of brith which causes more tax and deflation. African countries? Most African nations live in poverty excpet Botswana or Rwanda and maybe Morroco. Russia? they live poorer and get less pays while the prices are also high. South America? You've seen how they've been...
There's a housing shortage but there's more empty houses in america than homeless people, that's bull ish
Because in 2017 there was a reform in the US that allowed investors to pay less taxes and to depreciate more of their investments up front. So when covid hit and inter at rates fell in 2020, they all gobbled up the houses to take advantage of the new tax rules. Sad.
The silent generation accurately diagnosed the boomers as the “me” generation over half a century ago and it’s wild to see how right they were.
I’ve always found that the olds going off on “young people” is normally a form of projection. Every accusation is a form of confession.
Just found your channel and I'm blown away by how you deliver such awesome content without even showing your face .I'm learning so much from this and you're really inspiring me to start my own channel. Thanks !!!
Sometimes it is wiser to say nothing, especially when what must be said and planned is bitter to the ones who drew us here.
The tree is starving.
We must water it.
That's antisemitic.
The current generations are so cooked my father got into army and achieved so much when he was my age and I'm literally here gaming without any goals smh.
Great video!❤
Would love to have some more insight to the last bit. What are we to do? What does standing up and saying enough is enough look like? What ways can you take the future into our own hands? Subscribing to your UA-cam channel can't be the only thing we can do
Very fair point. Maybe we were too artsy fartsy at the end.
In terms of suggestions, here is my take. At the most fundamental level young people are focusing their energy incorrectly. On the both sides of the political see saw, young people are distracted by the “culture wars”. Instead, the front should be more united and focused on issues of economics and standard of living.
Secondly, when young people do discuss issues of economics they do so in a way that highlights a true lack of understanding. On the left it becomes about taxing the rich and redistribution. On the right it becomes about implementing Ayn Rands objectivism. Both views lack nuance.
Instead, young people need to see politicians as a tool, but in reality politicians see young people as a tool.
The only way this is possible is understanding how policies impact you. This requires being a bit more selfish. Thinking about your interests.
Here are some examples:
Many folks wants to increase business income tax. This will harm young people and likely reduce wages and employment opportunities. If business taxes are increased, business owners take home less and therefore pinch more pennies.
- Home owners are able to deduct interest from taxes. They have a lower capital gains on the sale of homes. They can leverage a 1031 exchange to defer taxes into oblivion. They can depreciate and carry forward. All of these are non productive. Unlike income earned by working land ownership is usually a zero sum game (unless you densifying). Young people should be fighting to increase all of these taxes and lower income taxes.
- Colleges funded by the government are spending money on the most ridiculous things. And young people fall for it because they want the “college experience”. Instead there should be accountability and guard rails on funding providing by your tax dollars. For one, tuition shouldn’t be able to increase at the rate it has!
- Young people are generally in favor of crazy spending bills. But they forget, the money will come from them in the future. Instead, young people should be against crazy spending. They should want fiscal responsibility. But it’s generally the opposite
- young people on the right think private medicine makes sense. When on nearly all metrics it doesn’t. The American medical system is extremely inefficient. And if you tie this back to Medicare this inefficiency is a tax on young people who will need to support older generations
Just a few examples, but the point simply being that the young voting bloc is too easy to win over and continues to vote against its own interests.
The only thing the ones in power care about is money. If we really want to do something we have to stop giving them our money. Yet we refuse to stop shopping at amazon, walmart, target, sheetz, etc. Even with how aware we are of their destructive practices it seems like nobody really cares. We can talk and vote all day but until you hurt their bottom line theyre laughing all the way to the bank. Shop small, shop local. If even five percent of americans stopped giving the ones holding us down all of our money they would notice. Then they would draft legislation that forces us to shop with them or something like that but it has the same answer. We are funding our own demise. Where do you think the billionares got their money from? Us
@2and20 very insightful. I do agree we need a lower average age of people running the country to value the interests of the younger generations! Excellent info!
Very insightful. A really inspective perspective. Could you perhaps make a video discussing all of these points you made here?
@redsoxfanatic8 the biggest thing we can do is stop giving the same three companies money. Blackrock, vanguard and state street own majority shares in basically every large company. That's how you make the ones in power start thinkin a litte differently. All they care about is money. You hurt their bottom line you're hurting them. I can't even count how money people I see recieve amazon packages every singe day. We're the ones making them rich. Cancel this clothing company has spreadsheets showing which companies at stores are owned by huge conglomerates. Good luck most people never even consider trying to do anything.
If I were to explain the problems our generation have to deal with to an older generation, I would be naming more things than they can remember
Masterful Mr.2and20. You earned a new sub
It is not just the US
The average work week is 34 hours???? HUHHH GANG IM WORKING 60 hours a week😅 nah where is this at.
😂 average! You just might be a grinder my friend
@@2and20yes I too work 50-60 hours a week. And at my second job, about 65% of the employees also call it their second job as well.
They likely work more than 40hours weekly and I'm inclined to believe that the stat will rise in the coming years, unless the data is misrepresented/flawed.
They're including people who don't work to get the average. They're insane.
I grew up Poor AF. Food stand medicade all that. By the time I was 26 I bought my own home, own two cars, own a cabin and a few acres in the mountains of Colorado. Oh I'm also married and have 4 kids. I also don't have a college degree. I've been incredibly blessed and lucky by the sound of things. Praise be to God.
The best you can do at this point...is do your research and find a place that is close to you with a lower cost of living.
That's a great post. I grew up in NJ and the amount of people that traveled into NY everyday to work was very large. They couldn't afford to live there so they moved west into NJ. The further west you went the cheaper it got.
Find a job near home, live there for 4 to 5 years, save everything and then move somewhere else where you can buy a condo, apartment, anything.
Facts abour Florida:
Median Home Price: $440k
Average Propert Tax Bill: $4400
Homeowners Insurance: $8770.
Median Wage: $64k a year.
Summary. If you had the average joe blow house PAID OFF IN CASH: you would still have to pay 23% of your ENTIRE GROSS INCOME on just taxes and insurance.
As much as I am for not having limits against people buying homes, there needs to at least be a temporary regulation against entities owning multiple homes until supply is determined to be sufficient.