Is gen Z ruining the economy?

[@Chuuwwa]

How can gen z have had much impact on the economy? Gen z has barely even begun to pay taxes and get jobs. We barely have any of the money and assets that exist.

[@Pwn3540]

And struggling a lot to get jobs after graduation. more than anyone else before

[@toyotanerd2269]

They did this to millennials 5-8 years ago. 10 years from now they will blame the generation. What infuriates me is when I hear millennials complaining about Gen zs the way boomers were complaining about millennials 5 years ago. Completely ilogical

[@calebcharles9074]

Yeah oldest Gen z is like 26 it's the way we've systematically taken away all the manufacturing for future generations because surprise not everyone want to be a fucking scientist

[@marsbarzart]

If 1 generation can ruin the economy economy never existed in the first place………

[@MarioMario-vy4bi]

@@name128ewa i need lore on the little hat people

[@oneillbilder]

It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to protect my $300K stock portfolio from decline is my main concern, but I don't really know which way to go.

[@philipr1759]

Yeah, things may be hard right now, but I've come to realize both bear and bull market, recessions and economic boom, all provide opportunities to make high gains, I used to call bluff on folks that bragged about making a fortune from such down-markets until I happened to do so myself

[@HarrietBemish]

I agree. I've been working with a financial advisor since 2020, and I return up to 15k every month, and I don't even have to lift a finger. Although I also think the reason I make this much is because I started with significant capital.

[@EllenAbrex]

How can I reach this advisers of yours? because I'm seeking for a more effective investment approach on my savings?

[@HarrietBemish]

My CFA Vivian Jean Wilhelm, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@EllenAbrex]

I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you

[@chestnutters9504]

Nope but the economy is ruining us. Ask not what you can do for the economy but what the economy can do for you. - Kohn F Jennedy

[@xmistaxcashxcoll]

Do you understand how the economy work in the pyramid. How it support humanity.

[@adriansteele7023]

Yes. Why try if it gets you nowhere and you get poorer every year?

[@adriansteele7023]

​@xmistaxcashxcoll the point if being on the bottom of the puramid is to work to make your way up, but when it is i poossible THE FOUNDATION of the pyramid sceme fails and it all crumbles, which if why the rich dont want anything to change. Theyd have to be valued on what they themselves actually offer (nothing)

[@skylinefever]

@@xmistaxcashxcoll It demands more of us at the bottom to hold up some old farts.

[@woverniox]

@@xmistaxcashxcoll Yes, I work my whole life to support people who dont give a fuck about me, my taxes go to israel, and I get to have the end of my life when I am old

[@jonahpeele]

How can the generation without any capital ruin an economy. Generally the people who control capital are considered to be in charge of the economy, thats a pretty basic concept of capitalism.

[@MarioMario-vy4bi]

No you don't understand. Your flesh is the capital. You're not using your flesh the way they want you to.

[@jimbartosevich498]

This is why I love capitalism, but hate capitalists. The problem is that whenever something goes wrong, capitalists blame those with the least control, instead of the most. They think minimum wage earners drive inflation somehow. They're exhausting people to discuss anything with. The part that sucks is that if their thumbs were removed from the scale, capitalism would work a lot better for a lot more people.

[@codyperry5427]

@@jimbartosevich498hahaha it’s literally the philosophy of well if it’s so bad do something, well yeah I can’t, you have literally destroyed every opportunity we had, and before that told us what to do and what to thing and we did that so now what? Sure you can play the hand your dealt and the a good life, but when the other players start with more cards bribed the dealer and know your hand whilst telling you what you can and can’t do it’s kinda hard

[@cpater5397]

Great insight

[@Yantel23]

The ones with the most capital see the general population as “consumers”, people who spend money, when people don’t spend money, in their world, the consumers are not playing their role. The truth is that the consumers do have some control over the economy but it’s only a collective level rather than individual. Considering that we all act scared of each other we don’t do anything as a collective. The dock issues is a prime example of what we all need to be doing to “negotiate better terms” for the economy.

[@josemfernandeza5979]

No, we are not. We were told to go to college, we were told to "pull ourselves up by our bootstraps", we were told what to do; we did as told, and at the end it didn't have the rewards we were promised, so we say enough is enough. The economy was already ruined.

[@skylinefever]

Exactly. I love when people give the finger to the system that told them if they behaved, thy'd get it.

[@cpater5397]

Exactly

[@RonniV2]

​@@boyblue3270probably becuse Gen Z is younger than you and didn't know what you were going through? Be mad a Gen X or something lol

[@Agent_125]

It's the Boomers, and maybe partially Gen X too.

[@bugglemagnum6213]

​@@boyblue3270but millenials were sheep, gen z isnt participating in the economy in the same way

[@armyatc2143]

I'm 50. This economy is ruined. Minimum wage when I started working $5.50 and my 1 bedroom rent was $400. Now, minimum wage is $7.50 and rent is $800. Wages have not kept up for decades. Kids are poorer today than I was at their age.

[@Patchouliprince]

I am Gen Z and have been in the work force and supporting myself financially for a decade now. I remember when min wage where I live was $9 and my apartment was $450. Now I make $20 and that same apartment is going for $1200 and that is somehow way beyond what I can afford, I struggle to cover the basics of bills, food and medication costs as it is. I used to dream of making as much as I do now and even though all I do is save everything I can and only buy essentials I’m struggling to even do that, I have zero debt and I don’t make frivolous purchases. At this point wages have to absolutely skyrocket if people are to be able to afford anything

[@armyatc2143]

@Patchouliprince I made $35k ($15 per hour) at my first white collar job 25 years ago and was doing just fine. Now I make twice that and I'm moving to a cheaper state next month because I can't make it comfortably where I am.

[@kittenwizard4703]

Rent is now $800? Are you in candyland 😂 rent is $1500 where I live for a cockroach infested studio in a rural area

[@armyatc2143]

@kittenwizard4703 I know. I was being generous. I'm moving because of it. Rent in Seattle is 1600 for a motel room converted to a studio. Moving to the midwest. Found a place in KC. 2 BR for $1100

[@ghammer2048]

Rent is 800??? Uhhhh. What? LOL *eyes spin around in my head like marbles* WHAT> PLANET> ARE> YOU> LIVING> ON??? *head pops off my body like a rocket* AAblfdasgjdlkasgjkeljkesahgkjrea

[@yanni_]

Most gen Z are 25 and under.. where would we get the capital to influence the economy?

[@GRY890]

Oldest is 27, lil bro.

[@GloomToon]

@@GRY890that’s why he said most are 25 and under not ALL, lil bro

[@AlyxTheProtogen]

​@@GRY890 and what does that even change anyway, lil bro?

[@joshmanwaring3848]

​@@GRY890did you unironically say "lil bro?" I bet your thoughts are in that AI generated, text to speech, tiktok voice, gtfo with your gen alpha ass

[@joshmanwaring3848]

​@@GRY890straight up NPC headass

[@falsificationism]

My rule of thumb: Any time the media invents a new term, like "doom spending," you can automatically dismiss them.

[@the_expidition427]

A people cannot ruin what they do not have

[@falsificationism]

@@the_expidition427 Sure!

[@gilesclone]

Fox News exists purely to distract people from the corporations and billionaires that are ruining our world.

[@gilesclone]

Blaming gen z and millennials for our economic problems is the worst case of victim blaming I have ever heard.

[@vvvv4651]

its predictably insulting how media scapegoat us zoomers.

[@N0sf3r4tuR1s3n]

Oh, cry me a river. They did that to us Millennials and before us, Generation X. It's just your turn, but at the same time they are still doing it to us and the other ones. And it'll keep happening. Just laugh at it like we do.

[@jimmymac2292]

​@N0sf3r4tuR1s3n you didn't watch the first portion of the video. Literally Millenials are doom spending in a similar manner

[@nude_cat_ellie7417]

They did it to all past generations as well. 😒

[@SelectKiko]

​@@jimmymac2292 they were actually doing it at a higher level, like 10% more. That probably has to do with them having more money and a more mature income.

[@HandleUnclear]

​@@SelectKiko this is not particularly true, in the video she specified that this is credit card debt. So it's not money that millennials have, but money they are borrowing. Gen z has less credit card debt because they are young, their credit history is too young for them to borrow a lot of money. Millennials are older, hence older credit history, hence more opportunities to borrow. Millennials have been doom spending since the first millennials graduated college and sounded the alarms that the rest of us youngsters were absolutely screwed. (I'm a younger millennial). Nothing's changed, and it's only gotten worse, so doom spending spikes every year.

[@GreedoGangrene]

Realized I had everything and didn't need to buy anything else. Buying things stopped bringing me temporary happiness, but rather a feeling of emptiness.

[@RonCecchetti]

Yup

[@whiteingale]

I bought literally nothing in decades. I am two decades old though. I don't know what I exist and why.

[@MarcIverson]

Same thing. I still buy too much, but have begun balancing it out the best I can by saving and investing much more. Now I get some of the same pleasure from saving a few bucks as spending them.

[@abeckorilla]

Greedo

[@SCPMstudios]

Whenever I get money now I just save because I literally can’t think of anything else I want to buy. Except a sports car, but I don’t have that kind of extra money

[@asmyself4021]

Ah yes, it's because I spend the 50 dollars I don't have. Meanwhile if I worked full time for 500.000 years I still wouldn't be a billionaire.

[@SigFigNewton]

Gen Z noticed that hard work is mostly unrelated to economic success and now boomers mad

[@joefer5360]

@@SigFigNewton "They're onto us! What do we do!"

[@jonathanwarner4720]

If they think food and prescriptions are frivolous expenses then idk what to tell them. I have no extra money after essentials. Hell, I don’t even have money for all of the essentials most of the time.

[@InTheWorldILiveIn]

Right…I have to decide what’s absolutely necessary. I have curly hair and I usually do my hair every two-three days…but can’t afford gel, mousse and hairspray like I used to so I’ll skip my hair for 5-6 days. Cut out two skin care products I love, had to weigh what was more important there. Trying to cut my grocery bill is the hardest. I already barely eat and lost 10 lbs recently. I gained it back but now I’m spending $400/mo. Had to stop buying protein powder bc that price could buy two weeks of turkey for my meal prep.

[@jonathanwarner4720]

@@InTheWorldILiveIn Take comfort in the fact that protein powder is a scam anyway. Rich people who are health conscious would never because it’s typically contaminated heavily with heavy metals and hormones. The problem is even eating unprocessed food in general is becoming ridiculously expensive.

[@RushedAnimation]

Sure, but how often do you get take out? If you brown bag it every day and make all your food out home, it could save you hundreds. I haven't had take out in over six months

[@InTheWorldILiveIn]

@@RushedAnimation me? I literally don’t eat out. I haven’t eaten out in years. I don’t have subscription services (no Netflix, no tv, no nothing). I do my nails (shaping and strength coat) and hair at home and don’t even do my nails anymore. I barely can afford half the things I NEED. I don’t have any extra money for eating out. I make every single thing I consume at home. I spend $400/mo in groceries and I’ve been trying to figure out how to cut that down because I make meal prep weekly, smoothie daily with less and less vitamins than I used to and skipping protein powder now, and I eat beans and rice when I get home. Eating at home does save you money but even that’s starting to cost too much. I lost ten pounds bc I was eating one meal a day (beans and rice) to save money but I can’t afford to lose weight because I’m already 118.

[@MarioMario-vy4bi]

@@InTheWorldILiveIn nah quit doom spending.

[@HomersIlliad]

It made as little sense when they used Milennials as the punching bag as it does for Gen Z now. To be able to ruin something in the economy, you first need the money to affect it - and that part might take a while.

[@ianmorrison5474]

'When people engage in revenge spending they are not mindlessly trying to ruin the economy they are reacting to their circumstances', excellent point.

[@jimbartosevich498]

I think the biggest issue here is that if everything is wrong, then nothing can be right. If both spending and saving are seen as "revenge" then how does one simply exist without being accused of malice? It is the responsibility of the old to pass their wisdom to the young; a responsibility that our society is clearly shirking. There are no big youth rebellions. There are just young people trying to exist in the waste that the elders put them in. This video was very accurate about that. So, let's look beyond the economic focus of this video, because the same excellent points made by this creator apply to other societal issues as well. "Why aren't the people who were raised in single parent households getting married and having kids?" The question answers itself. "Nobody wants to work anymore." "Quiet quitting." "Acting your wage." A person's job is nothing more than a means to an end, with that end being the ability to afford a lifestyle. A job that doesn't provide that, either by paying too little, or by demanding too much isn't a job worth having. There are many more examples, but the point is that currently, it seems like for the young, society offers no rewards, and no useful advice on how to navigate life. Everything we tell younger generations to do, we then tell them they were stupid for doing. The nature of life is to try to find a way, and when current society fails to provide a way, individuals are forced to find their own.

[@skylinefever]

This is so true. Masses of people are told to do things that bring success. When the success doesn't arrive, it was because they didn't do X hard enough. I argue that if it wasn't for certain forms of cheap entertainment, the USA would be 1789 France by now.

[@okbarrels]

​@@skylinefever 100%, we're essentially pacified by cheap entertainment and goods. When even those are no longer affordable...

[@skylinefever]

@@okbarrels People who can no longer shoot pixelated bullets in COD will shoot real ones.

[@okbarrels]

@@skylinefever 🎯

[@baronvonjo1929]

I know a girl a few thousand in debt. She just throws things on the card. She said she use to save a lot but emergencies kept draining her account and she just dosent see a future with her in it. She says might as well live now and not worry about the future because she doesn't see a possibility of her being there. I personally just save my money if I can. If I magically got 100 bucks my first idea would be to save it.

[@EnergizingBane]

Her perspective on her future sounds exactly like me right now. I just don’t see myself living past 30. I’m 26.

[@whitewall2253]

Debt is based.

[@joefer5360]

You see that $100 you saved five years ago? It's purchasing power and ability to buy what it did five years ago is gone. Enjoy your 10 items at checkout.

[@patrickday4206]

I struggle with saving but do well investing not stocks but land or some tangible thing but everything is so expensive it isn't affordable anymore.

[@Mally_02]

@@joefer5360exactly

[@CDeCollibus]

also, why save when my money is inflating to nothing. just let the debt inflate away like the government does

[@MarcIverson]

Don't save much except for emergencies(and there will ALWAYS be an emergency coming up), but if you want to beat inflation, investing is the only way out.

[@monclerpaint]

personal debt very often has interest, and especially egregious rates like in the forms of credit cards or payday loans when it comes to lower earners / causal borrowers. you need hold something that will appreciate in value faster than inflation, whereas you just lose money by holding cash or buying frivolous things.

[@gregorymalchuk272]

You're supposed to invest it in the S&P 500.

[@patrickday4206]

​@@gregorymalchuk272yeah so you can make a bunch of rich businessmen richer 😂 we are heading towards a depression the great pandemic of 1918 the shortly latter we went into a depression history is repeating itself in the great depression people invested in stocks lost everything

[@Slenderman63323]

@@gregorymalchuk272 Buy Bitcoin

[@CDeCollibus]

i am doom spending, because i plan on letting it rot away and go to collections. the game is rigged, so why not rig it in our favor. im not buying a house so my credit dosnt matter.

[@BrandonGolets]

selfish loser

[@ILoveTinfoilHats]

_You can't fix stupid, you can't fix stupid_

[@joefer5360]

Remember. When someone asks for you by name, your response is ALWAYS "who is asking?" followed by, "i'll let em' know you came by". NEVER claim your LEGAL NAME when you owe debt.

[@jermainemyrn19]

The economy is the rich. The rich are doing this

[@coolnoob5508]

Revenge spending sounds stupid as who are they getting revenge from, their own future selves finances

[@TheNicoliyah]

Exactly!😂

[@cpater5397]

They don’t believe they have a future they believe they have been betrayed. They did everything they were told and now seeing nothing is possible

[@jaydeluxe7146]

You need to understand we depend on each other the moment u forget that it falls apart use your brain

[@_Information_]

Yeah it is stupid, it’s economic self harm.

[@dominicperez3777]

It's not us zoomers that are the problem, it's the people in power that f'd us over

[@DrivingMaskina]

I’m 62 and you young people are in another world than we old ones grew up in. I find it fascinating that the older generations are so myopic on themselves that they can’t even see what the world is like for generations Z. Your world is very different and much harder. I find the lack of maturity in my generation astounding.

[@hyhhy]

It is an age-old thing for the older generation to look down on the young and be out of touch with them, but it would be nice if humanity would have progressed out of it by now, as it indeed causes problems.

[@knottheory79220]

I'm 43. When I was 21 they were saying the same crap about me, how we were lazy and losers and didn't care about anyone or anything else. The old always crap on the young, I have tried my best to not do that. At the same time, being a young adult has always sucked except for the boomer generation. My grandparents were young adults in the Depression of the 1930s and were subject to the horrors if WWII, and survived the chaos of the 60s and the turmoil of the 70s and blamed for all of it. But they got to be old and had good and bad times and I refuse to believethe world is unilaterally worse than it was in the nineteenfreakingthirties. I figure I will too and so will Gen Z and Alpha. Just don't be morons, that includes not overspending.

[@TheNicoliyah]

Gen x and 100% agree, I feel so sad for the younger generations for the most part they are hard working and thoughtful and have had their futures stolen from them by corporate interests

[@samuraitadpole5459]

Worse in a financial sense, even during the great depression money had value so working was worth it

[@MarcIverson]

@@samuraitadpole5459 If you could get a job to get any money in the first place.

[@MarcIverson]

Older than you and it was the same in my time. It works both ways though. Older and younger generations each think the other one is full of idiots and wastrels who don't know how good they've got it and are culturally ridiculous if not outright bad. It's too bad we don't all try to understand each other and the world a little better. But perspective is hard, and takes real thinking and good intent. Not everyone's made for that.

[@samuraitadpole5459]

@@MarcIverson same as the great depression except money is worthless now

[@TheDoomWizard]

We have no future.

[@shanesprecher8290]

No, I think there is a targeted effort to blame it on you though. Shareholders are used to rising profits, hire wages cut into the profit and hurt businesses especially if the businesses can’t raise their prices because consumers can’t afford their products. I would expect to see more refugee hiring, AI and accelerated outsourcing to get wage inflation under control. It’s easier to point the finger at GenZ and actually every other generation, than to tell the public that we don’t want to share any pain in our standard of living. All they have to say is, “all these open jobs and nobody wants to work”.

[@skylinefever]

I agree. The line go up next fiscal quarter economy is looking for anything to blame other than the fact that it is unsustainable.

[@E4439Qv5]

'All these open slavery positions and none of these young people wanna shackle themselves to feed the multinational global corporate machine-beast to enrich the CEOs and not _themselves_ anymore!! Back in _our_ day, we *wanted* the jobs! We used to walk five miles to them, uphill in the snow, handing out resumes with cover letters like they were *candy!* If a person doesn't work, they don't deserve to sustain their physical bodies with calories! I blame those _damn_ phones!" (trails off into incoherent rambles as they shake their fist at the clouds and the drool runs down their feeble chins into their pudding...)

[@geekgirl616]

It’s more like all there open jobs and nobody wants to hire

[@23pinkpear]

gaslighting the zoomers because living conditions aren’t livable for them

[@notsosuavemate]

Generation Z is not ruining the economy. It’s the people in power

[@nonic4vic600]

I like the idea that underconsuming is trending more because its grounded in reality and if the government has a problem with it maybe they should raise the minimum wage and rent control

[@ModernConversations]

Everything millennials did was snowflake and everything Gen Z does is revenge. 😢

[@caryphillips4885]

@@ModernConversations Revenge does a lot more to change things, possibly for the better or possibly for the worst, than snowflaking does.

[@roboraptor2014]

My form of revenge is not planning on having kids, can’t take advantage of the sheep if the sheep stop reproducing

[@dragonofparadise]

We are leaving the US permanently before we have kids. Our kids will keep their passports so they return if they wish but I highly doubt it after they see the dumpster fire the US is becoming these days.

[@SigFigNewton]

Everything boomers have done is myopic

[@oldskoolmusicnostalgia]

​@@caryphillips4885probably not the point being made by the OP but eh...

[@gt5713]

The currency is conjured freely by criminals, bandits and gamblers. All of this is a debilitating drain on anyone trying to earn an honest living. Checking out from honest work is to be expected. Why bother, if honest work fuels the worst people in the world?

[@skylinefever]

I joked that I like cocaine. It shortens the lives of the Wall Streeters.

[@roboraptor2014]

I’ve seen countless times that honest work doesn’t reward anyone. Cheating is the only way to get ahead and if you don’t cheat, you don’t care.

[@gt5713]

@@roboraptor2014 Yes, but once everyone starts cheating, no one is left producing/pulling the wagon. That's the problem with central planning. It always ends in widespread apathy and poverty. People just can't stop stealing from others, unfortunately.

[@E4439Qv5]

​@@roboraptor2014correct. I don't _care_ to play a rigged game, and there's more at-stake here than just *my* livelihood.

[@joefer5360]

@@skylinefever I'm using that one.

[@Sylkis89]

Saving makes no sense cause currency inflation makes a waste and the only sensible alway to secure wealth is real estate which is out of reach

[@Joutube_is_trash]

Start buying gold and silver. Don't let them steal from you.

[@emiliaganchorre]

As someone who graduated high school in 2022, gen z is definitely not ruining the economy. They take on huge amounts of debt for school, transportation, and housing. They work two jobs or more to spend or pay off debt. For the most part, they have an active cash flow.

[@Audrey-k2h]

No greed is ruining our society

[@DOGB14]

I think you’ve really nailed being able to point out a lot of the deep seated issues, very nice video.

[@xg2513]

I’m sorry I started doom spending and revenge spending and I’m happy as fuck. The world is awful, and I am a lot happier for it. I’ll only be young is once. Future is uncertain. I never do anything too impulsive or economically irresponsible. But if I really wanna get something I’m gonna get it even if I have to finance it. Idk. Like within reason this is worth it. To me revenge spending is buying my favorite shampoo, hair dye , some clothes at thrift shops, self care items, and money for hobbies. I was saving it all and what for?? I was wasting all of my youth not spending any money or having any fun because “what if I need it later”. But I’ll only be young once! I’d rather spend money on fun stuff now.

[@Tamietwist]

Same and its not like I spend thousands. I also neatly note what I bought and how much it cost me 😂 like yeah that 400 a year I spend on myself is really going to get me far in life 😅

[@gregorymalchuk272]

Saving it (investing it in stable index funds) so you can retire???

[@Patchouliprince]

@@gregorymalchuk272Figures that I have seen show our generation will need at least a million to retire. Most of us understand we will never be able to hit that mark. Even though I am the kind of Gen Z that loves saving and frugality, I actually completely understand why people feel the opposite. Even if we had the money to retire we might not have a future in general, the climate crisis is already here and who knows how much worse it’ll get ya know?

[@bugglemagnum6213]

You will never get today back! Act accordingly!

[@РусланПогуляй-с7ц]

​@@gregorymalchuk272I won't be able to live to retirement age

[@Rolfwar]

Heidegger proposed that humans are "time-haunted" and that their agency is inherently tied to their perception of time's passing. I think what felt most unfair about the covid lockdowns were not the restrictions themselves, rather, it was the concrete perception that take was taken from me - time which would never come back. I entered 2020 as a 24 year old and came out of the three years of restrictions that followed as a 27 year old. 3 years of not befriending anyone, not learning anything worthwhile due to the inherent stress and purposelessness, etc. Of course, this was true for everyone else, young or not, but I feel like three years taken out of your twenties are not the same as three years taken out of your 40s or 50s. I think in this sense the significance of younger people being more prone to spending is precisely related to that - the attempt to make up for "time lost", or anyways behaviour dictated by the state of being "time-haunted" in the pandemic's aftermath. If time is money, money is time. Afterall, purchasing/spending is one of the few ways in which one can affirm oneself in society with almost universal recognition through all social strata.

[@SigFigNewton]

No, people are just living their lives in which paying the bills entails coughing op a much nearer 100% of what they earn

[@NoMoreCrumbs]

Pop sci will blame anything besides structural issues. The contradictions within the american economy can't possibly be at fault. No, it must be the young who are to blame

[@skylinefever]

Absolutely. One reason I like on the Raging Golden Eagle channel channel is how he calls it "Blame the outlet."

[@E4439Qv5]

"Am I so out-of-touch...?" "...no. it's the kids who are wrong."

[@MegaJohnnycage]

Not sure who the revenge is on, from an technical macroeconomic POV , this would actually assist the economy to grow, higher demand adds to economic growth. So it will not damage the economy quite the opposite. Obviously it can damage the individuals wasting all their savings, potentially in the future.

[@BuildNewTowns]

We need to build our own cool new walkable towns - with new economies.

[@BuildNewTowns]

@@yvesgingras1475 I need to find some architects and urban planners to help with the designs. I already have some land to get started. I'll be making alot more videos soon.

[@BrgArt]

it's called a commune. i suggest reading about the paris commune and see how it ended. You will need a lot of preparation and more guns than they had at the time.

[@kuromu8467]

​@@BrgArt You're stupid. London isn't a commune

[@BuildNewTowns]

@@BrgArt Its actually called a municipality. There's thousands of them in existence currently with separate mayors, police, and city councils

[@joefer5360]

@@BuildNewTowns Careful, you'll be labelled a domestic T word if you go incorporating your own towns that overlap on the "old map".

[@jamesmiceli4985]

Literally saving the world with these videos, thank you as always!

[@Hession0Drasha]

In other words: "previous generation mad, that following generation won't go into crippling debt their whole lives, to prop up their asset prices" They're mad because they thought they wouldn't be the last generation, to buy into the pyramid scheme. And the next generation refuses to play musical chairs, now that all the chairs have been taken away.

[@NOMORERATRACE]

I retired at 33 years old I am 37 years old now. My full retirement on SSI is 70 years old. Retired as soon as possible there is no guarantee people going to live until 65 years old.

[@venomtailOG]

Haven't seen this native video format in years. Takes me back.

[@OwnNothingBeHappy519]

It's crazy that gen Z is being blamed for the economy when the average Gen Zer is 19.5 years old, the gaslighting is real.

[@apex9841]

The US is a place where everyone is working for a few old families, my only problem here is I’m not part of those families 😂

[@TheThermalLizard]

I just miss paying less than $3,000 for 90s civics. Now you gotta pay $6k-$10k on a clapped EK civic.

[@konormccracken]

10/10 video they want to cram an intergenerational responsibilization narrative into the space fiscal policy and social coordination used to fill

[@JavierBonillaC]

Economic behavior, even if in a large large group, is Microeconomics. As an Economist I see this error all the time. Anything related to incentives and relative price theory is micro. Very interesting video, thank you. Post Script: As long as Political campaigns can be privately funded, monopolies will keep grabbing more and more of the economy.

[@s.sasquatch1789]

Saw a video called "SpongeBob crisis and catastrophe" and thought of it at 10:00. The thing that came to mind was, 'The older generations prioritize stability first and then meaning later in life, in part leading to the 'mid life crisis'. I think this generation prioritizes meaning over stability, as in the old school, job, marriage, house, kids. But we're also disincentivized by the unaffordability and nihilist future expectations

[@crimsonking6773]

Revenge save not spend, consumerism and the concept of keeping up with the joneses is a trap. We only get older, I'm in my 30s and have watched numerous boomers work until the day they die. And they had everything, money, cars, homes, extra crap like sports cars and boats during their hay day. They got stuck in the mental consumerist trap and were penniless or in major debt by their mid 60s. Then were forced to work to keep up their lifestyle, eventually got sick and died, stressed and miserable because they spent to much and didn't live within their means.

[@jrho8033]

Well made and thought out video. Thank you for making this!

[@funkypets24]

Very good video, I think the ragebaiety title has a lot of people commenting upset but I’m not sure they actually watched the video.

[@godrules3596]

It pisses me off how Gen Z gets the blame for legit EVERYTHING

[@bugglemagnum6213]

Its not even no hope for the future, why should i save individual dollars when i could buy a burrito that makes me feel less sad. We have no prospect of significant savings so we drink boba so we dont GIVE UP

[@barelyreal1]

This.

[@codedusting]

F economy. Covid taught us what's more important than just being a clog in a system.

[@Novusod]

People should be saving every penny regardless of what the economy is doing. You are going to need that money when you are older and it gets harder to work. Your 20s are your wealth building years.

[@xmistaxcashxcoll]

I agree

[@caryphillips4885]

Yes, but it's a defacto suicide. They need to see a reason to live that long to see a reason to save.

[@DisplayLine6.13.9]

Well if its just sitting somewhere its subject to inflation. Maybe you should spend and have things while you can afford them.

[@Kalashp]

Money is losing value as we speak, saving does nothing for you. You need to find a way to invest and make more

[@skylinefever]

Unless one can build inflation-proof savings, forget it!

[@jroseme]

Really thoughtful video. I hope it gets traction.

[@LoonyCleo]

There's an iniciative right now in Maine that's trying to tackle the current economic issues by one main keypoint: limiting lobbying and super PACs in political campains with the objective of better regulations in the future (since there's less incentive to reward the 1%). It will be on the ballot in the elections and I don't think enough people know about this! This could be huge!

[@LeiSnows]

Lobbying and super PACs are good for the economy, so hopefully that radical communist agenda isnt passed. We do not need less lobbying, we need more. The politicians will make things right if they just get enough money, but because of the current rules enough money cant be sent to them. If anything, we need to get rid of some of the campaign finance laws so more lobbying and PAC action can occur. Also with trickle down economics, its not like the workers dont benefit from spending money on politicians and lobbying. Greedy poors are the only ones who dislike lobbying, and they shouldnt get an opinion anyways since they dont pay enough taxes into the system to be a positive, only a eternal drain.

[@felipevaldivia9940]

On my point of view, economy and society are already ruined, gen Z is only noping out of the cycle and THAT will mark the final nail in the coffin for the current system

[@aspeneth]

Super interesting. you do a great job at explaining topics!!

[@Fitzroy_Edvin]

Amazing video. Subbed. Keep doing this. Cheers from Sweden!

[@RabbitMask-c7v]

In high inflation economies, it's better to spend money now whilst it's worth more, rather than wait until later when it's worth less.

[@StarBurstedCB]

You are talking about very interesting topics across your channel! I'm happy I found your channel, keep up the great ideas and topics ❤

[@richardcrook2112]

How did you find it?

[@GabrielBacon]

I broke the 100k credit card debt milestone in the first year of Covid. Managed to get my wife’s cards too and got to a peak of $145,000 (I think we paid $24,000 interest that year). The mindset that created this goliath debt was, the dollar is devaluing so much that having the things I need/want right now is the same price with interest as waiting until we can afford it. Eventually I realized that my current wage would never overcome the debt and I’d be making minimum payments for 30 years. That realization lit a fire under my ass, I took out even MORE debt to start a business, and ended up succeeding and now make $100 an hour. Doomspending changed my life.

[@shiektal]

Great video! For the longest time it was us millennials who were ruining the economy. Now its your turn! Congrats.

[@skylinefever]

That was my first thought. I thought of how some morons said "Millennials are killing the diamond industry" years ago. I basically said "Screw them and their expensive stones."

[@swanoflove6833]

I'm 19, I think that while the economy is rough right now, it's not acceptable to have such a low work ethic that I sadly see in many others of my generation. I think that, you should always work your hardest and best as a worker, even when the times are hard. My grandpa grew up during the depression, food and water were not guaranteed even with his hardest work, 16 hours a day, coming home to farm and grow food for his family, helping others, and then working the next day again. He started working earlier than anyone I know, before even 10 years old he had to help grow food and do whatever to survive. He only took 2 sick days off work in 92 years, and despite all of this he did everything he could to provide for his family and he was a real man. Although things are tough in the economy now, I look at how he survived an even more difficult time and I realize that there's no excuse to work sloppy!

[@joefer5360]

"...I think that, you should always work your hardest and best as a worker, even when the times are hard..." Please keep thinking that way. People like me LOOOVE young cats like you. Grind your youth away on my business' employee payroll. "Work hard" for that minimum wage plus $3. Lol.

[@dissonanceparadiddle]

You can't ruin what you can't contribute to. And if you blame the rising generation for not buying/spending enough that's on their employers not paying them enough

[@trinsit]

My son skipped college and joined a company that'll pay to train him all the way to becoming an electrical engineer. He's been living with me since he graduated highschool, turned 18, and left his mom. 2 years in making his own money, saving and investing what he can while learning how to have fun without spending money. Mostly making friends, helping family, helping strangers. Playing games. Has a girlfriend. Has sex. Doesn't cheat. She's monogamous too. All from giving him a platform to grow from. I told him that I'm not keeping him here. It's up to him to understand how to manage everything as an adult and we split everything. I show him how to do everything. We are living our best life

[@flanic_]

What was that company that trained him?

[@thunderklap241]

Glad he found that opportunity. I think we'd benefit from more companies paying to train those skills.

[@AlyxTheProtogen]

Unfortunately, opportunities like that are very few and scarce...

[@trinsit]

@@AlyxTheProtogen check your local area. Here in San Antonio, the electrician companies fund the electrical school program and you get paid $17/hr to train you and also send you on real jobs as an apprentice. And you get a raise each year till year 5 where you're making $35/hr.

[@trinsit]

@@flanic_ he's not trained yet. He just started with the company, but it's at Amazon. He's looking to get signed up for the program now. If it doesn't work out, he's still gonna apply to the local electrician program. The local electrician companies run the school and pay you while you learn and they send you on real jobs as an apprentice.

[@shuttlescoff7668]

Im sorry but I'm not going to k** myself working 2-3 jobs by myself to try to afford a 500k house...

[@michael366606]

Brilliant! Best analysis that I have seen of what is actually happening! Great job! This also explains why other social problems are arising, such as the birth rate and the divide between men and women, as well as the rise in crime rates, etc... It's all connected!

[@jaydeluxe7146]

It’s crazy how they expect us to live with nothing for decades…. Literally cant save and I still need to start payments for a car because the one I bought its frame rusted out and insurance I’ve paid thousands said get lost… whatever America

[@zizkovhoodmoments1590]

Saving money only ruins capitalistic economies that measure their success in "ECONOMIC GROWTH" but not socialist ones which dont care about numerical growth measures and instead try to maximize real material security of their citizens

[@joefer5360]

We The People.

[@zizkovhoodmoments1590]

@@joefer5360 True power to the people is socialism. The "people" the USA constitution refers to is really wealthy capitalists and landowners

[@RuneToi]

Great video. Good luck on your channel Celine.

[@gigglegrove_riddles]

Really loved this. Thanks!

[@henryprice9493]

I can't even afford food 😭

[@РусланПогуляй-с7ц]

do not doom spend the food 🗣🗣

[@AlyxTheProtogen]

I have a lot of chores to take care of around the house as well as having a job, and I sometimes decide to order like a pizza or something just to save time on cooking, and every single time I get one, I'm just left there like "Damn, there goes my money again.."

[@AlyxTheProtogen]

I have a lot of chores to take care of around the house as well as having a job, and I sometimes decide to order like a pizza or something just to save time on cooking, and every single time I get one, I'm just left there like "Damn, there goes my money again.."

[@dalcin93]

thank you algorithm

[@whiteingale]

why? you wasted your time:9

[@kmn4173]

Great video! A financial catch 22 with input of cultural influence. I liked your perspective.

[@Greenlittesmug]

Tf did I do I’m just trying to survive

[@Rhythm162.]

Sure I'll doomspend 90% of my wealth... my whole $6.99 for eggs 💀

[@this_epic_name]

10:18 - It's not just that folks correctly perceive they can't afford a house NOW, it's that if you draw lines out into the future for income growth and housing price growth (using reasonably assumptions for the current times) it looks like they'll NEVER be able to afford a house; and that scenario will likely come true unless some things change. (I think a lot of older folks blame younger folks for shortsightedness in this regard, but I don't believe that's true for the reason stated.) The same is effectively true for folks who currently own a small starter home and wish to upsize to accommodate a family (though their overall position is better than renters'). I feel so bad for folks right now. I bought my first house (2-up 2-down townhouse) 21 years ago at age 25 for 3x my annual salary. Today, a comp is 4x my significantly-increased salary and 8x my inflation-adjusted salary from when I was 25. There simply isn't enough housing supply. We've been sitting on this situation for a long time, and governments have failed (or refused) to offer the right sorts of virtuous incentives to reverse course, often times opting to artificially constrain supply instead. 15:30 - also known as "the paradox of thrift."

[@OneEyedOneHornedGian]

Its interesting when my great grandparents saved as much as they could prior to a world war they were known as "The Greatest Generation". Here we are a new generation approaching the new failing economy with rumors of World/Civil War and it's "revenge"...

[@AlfredKriman]

Around 2:40 -- Well, "pent-up demand" is demand and not manifest spending. Presumably "revenge spending" is spending that _results_ when pent-up demand meets newly accessible supply. So they're not the same thing. In the proverb "living well is the best revenge" (possibly relevant here), it would seem that desire to cause harm is not a necessary element of revenge.

[@radio5637]

20:59 audio spike jumpscare

[@PETEYBOY954]

As a Gen Z, I will admit I’ve been “revenge spending” since I could take out my first loan. And the guy was right. At least for me it is nihilism. Well honestly for me its nihilism propped on a foundation of selfishness, ignorance, and privilege. I joined the Army to try to straighten my self out and it really helped open up a lot of doors for me and I can see the error of my ways. Look, I just took a little accountability. Now how about we get a little accountability from Gen X and above! Especially our representatives and news broadcasters! Haha dream :) Comparing food companies to drug dealers while discussing the impacts of drugs on food companies just imploded my mind, that’s gotta be a paradox or something, no?

[@michaelshannon9169]

Gen z and millennials discovering that a long life doesn't equal a good life, might as well blow what you got in your prime instead of saving for your decline.

[@sharpsrain8302]

We can't destroy something that's artificial let alone something we don't really get to play a part in 😂

[@matt_9112]

As a millenial, no you/they don't. How would they even? Barely any income yet, and the "economy", or rather the GDP:wages ratio has been out of whack for ~2 decades, also not their fault.

[@Funboihahaha]

I paid off some bills this paycheck and now I have $200 for the next two weeks

[@SCPMstudios]

Fun!

[@dariusyoungblood1039]

Can’t ruin an economy that we didn’t create.

[@mr_0n10n5]

One bedroom apartment for 2k and its gen Z's fault the wconomy is screwing us lol

[@truthseekingfreethinker5214]

It doesn't really matter because when the chickens come home to roost, Gen Z will pass the blame just as every other generation has done in the past, and honestly, they could make a good argument.

[@theredstormer8078]

I'm not spending money I don't have, but I know people who are. I'm kinda broke and I've never had a credit card or taken out a loan or invested in anything despite being an adult with a job for a while now. Why invest when it's gonna crash soon? Why save a lot when you're never gonna afford the big stuff? I'm lucky enough to still live with my middle class family but I don't know how long this is gonna last. I wanna move out but I don't see that happening anytime soon. I want the housing market to crash. If it crashes then I'll finally have a chance, property owners be damned.

[@Avsfan23]

There is luck and privilege involved in success. Just because you arent ucky and privileged doesnt mean youre totally doomed though. Save money and research banks with better rates. Reduce living expenses as much as you can. Do some safe ETF of mutual fund investments. Most of the time, you dont need much to do that stuff. Little things over time will lead to great things. This is a lesson I have been learning.

[@РусланПогуляй-с7ц]

If I would investing 20% of my income with inflatoin-proof rate, I would get rich... . . uhm... . . wiat a second . . . . oh, yes: NEVER

[@gsismaet5385]

Save enough gen z then leave the system, the country.

[@JessicaMorgani]

It takes millions of years for human behavior to change. How are economists so stupid?

[@Frznngr]

your spitting fire. its awesome. keep cooking =)

[@minky2396]

I enjoy the video but I just wish you gave some policy prescriptions at the end for how to fix this issues/reform the system. Simply complaining about people blaming individuals for a problem doesn’t help with anything if you don’t say what they should be doing instead.

[@deltalj91]

Millennial here i don't blame them. Spend it or invest it all into some stock or crypto. Saving money does not work.

[@tritiumexposure5094]

17:50 there is 1 true escape it cost ~50 cents but once yer out you cant get back in, its called 9mill, econemy cant extract cash from a corpse(in comparison to a living being)