Just happened to find your channel today while reading news about artificial intelligence through google news. I am glad I did because of how touchy conversations about economics can be. I am by no means an economist, though I still know quite a bit about the subject. Any how...Have you ever discussed the role on how global economics play as a troubling unique factor when it comes to wages and employment in America? It is a subject that few people ever talk about, despite how relevant it is to current conditions. I have tried explaining it to people my self, to mixed success. You hear all these people talk about wanting higher wages, when really the problem has less to do with getting paid too little when the federal minimum wage here is 2-100 times the amount in most other countries around the world. This from what I can gather the lead cause of work being sent over seas. Why pay one american to do a single job for $8 an hour when you can hire 20 people in brazil for that same amount of money? Our problems would not be this bad if it weren't for how poor the rest of the world is. Because so much of the world is in poverty, us being the richest paid workers in the world, as well as being the bearer of the global standard currency that is the US dollar, we end up having to pay the most for our own products, because of no one else being there to accept large price increase besides us. Let me ask a deceptively simple question. Can you off the top of your head name a large non american corporation based in other countries that would hire an american worker to do difficult work when there are countries like taiwan with plenty of workers with much more experience working with producing semiconductors at 1/3 the cost? Recently i read about the troubles going on with the semiconductor plant being built in Arizona. To the point that people lost their lives due to disorganization and strict building standards needed for the factory to run safely. It didn't help that you had like 4 different contractors operating on their own separate schedules trying to work on a single building. I feel like am going off on a tangent here. At the end of the day, I have had trouble finding more poignant economic news reports or conversations. Just listening and seeing you cover things feels so familiar in presentation to the way I would explain things. It is comforting. Not having to feel like I am some crazy lunatic believing what you or I might say. If there is one thing that I stick to as a guiding principle, that being to look at the broader picture of things. What may seem simple can be dazzling and confusing as a whole. As for as finances go, my life feels no different from how it was when I was 5 years old. I was born in 1995. I am now 27. I sit here wondering, how can it be that the economy feels no different today then it did over 20 years ago to live in. Granted I live in Illinois but still.
I appreciate you sharing your thoughts, I’ve been following you from TikTok over the past year. I’m a millennial and I also grew up with Steve Jobs vision of “Do what you love and you won’t work a day in your life”. I think this vision was a lie, and a better vision is “do what your good at, and build your dream life on your off time”. I wish there was some optimism for the future, but I don’t see it.
This is a great video, Kyla. Mad respect for you holding yourself accountable on not illustrating the whole picture. It’s true that while the economy is good for some, doesn’t mean it’s good for all. Those few who it’s doing well for seem to be the only ones we hear from.
You're one of my fav resource channels when i need to zoom out from day trading and get to the 30k' view and perspective about the economy and markets. Really appreciate your work, hope you have another chat with Lyn soon, the soon to be launched BTC ETFs are going to provide some interesting new data points to chew on! Cheers 🍻
U r a great presenter almost poetic😊. Anyhow on ur topic... this is my opinion, throw away social media, hasta la vista. I know it is a lot to ask, but i remember in 2000's hearing that the children of engineers developing all these internet stuff in silicon valley sent their kids to schools with no computers... that says it all
Gen X here ! You look like you have seen too much of the machine and it spooked you. Take a breather and keep going - you may not realize how important your voice is - even if reality breaks your heart
In the next 10 years I wouldn't be surprised if our generation begins to take the keys and real change happens. In this digital age we are more connected than we've ever been, meaning it is so much easier to organize. Someone can make a TikTok in California and a kid in Minnesota can listen to what they have to say. That is our major benefit that no other generation has really had before, the ability to influence across geography. Thank you for being our voice Kyla, we definitely need more voices like yours to speak out about our plight.
Good luck with your quest, your generation already proved its mettle when you followed all unjust government mandates for covid, you really think a AI manipulated system/social media will allow you to 'organize' or to destabilize the system?
Reading this comment is hilarious after reading the comment written by @z74al Influencers aren't going to save the world 😅 before social media the Internet was a digital library now it's a digital circus.
I'm a millennial who was raised by boomers and currently teach sociology to gen z college students. I think your points are exactly right, and honestly I've been thinking more and more that generational conflicts are at the root of a lot of social problems. There is a pervasive sense among my students that older generations climbed the socioeconomic ladder and then kicked it out once they got to the top. Not only that but they feel like they're being handed a broken world to fix but given very few tools and resources to do so. That said, while hyper-individualism is definitely something that is characteristic of (but by no means unique to) older generations, social media has created an even weirder version of it. The ability to think and analyze things systemically seems to have gotten watered down in the social media age. I've had multiple students say that we could address climate change by having an influencer take up the issue.
Gen Jones here - so on point! I get so tired of hearing boomers and X'ers whining about this stuff. This is a new world and if they don't like it they'll be doing us a huuuuge favor to shut up, step aside and getout of the way of the world trying to become a better place all around us for those same reasons!
Great video as always. It sucks for humanity that generational divides exist. Throughout our history, younger generations are oppressed and cant make older generations understand, so they just have to wait until the old die. This cycle goes on and on. Never was this more apparent than with that Hassan Minhaj Obama interview.
I agree. I feel like I hear many stories about how people were coal miners or other historically low paying jobs and being able to afford a house 50+ years ago, but today it doesn’t seem feasible. I’m currently a college student and I feel to notice that 3 majors make up 85% of my school: Econ, Computer Science or Pre Med. these are important jobs but I feel that many are forcing themselves into these industries because every other college degree isn’t a good ROI. Personally I fall into 1 of those 3 but when I deeply think about I would rather do a job that only pays 60k a year but is my passion, but when my parents are paying as much as they do that just isn’t realistic to me. On top of the fact that I want to be able to afford a home and not have to worry about money. Also what happens to society when we lose the humanity majors. Where do our therapists, social workers, teachers come from. Furthermore, AI seems like it could eat up Tech, finance, entry level law jobs. What happens when the two most popular studies become obsolete/ heavily reduced in X amount of years. This doesn’t even touch on the political unrest and rising class divide I wonder what happens when the US stops bending and finally snaps
Protip - make flash cards for quotes. Just try to memorize 1-2 a day and randomly pick which each morning. When you find a quote you like, add it to the pile.
Speaking of scrolling, you might appreciate "Amusing Ourselves to Death" by Neil Postman, written in 1985. He traces the fragmentation of thought and experience back through TV to the telegraph and photography. Many of the exact points you make.
Nice article and video. I'm a millennial. I agree with almost everything you say in the video. I went out and bought rentals while I rented while I was in my early 20s. That has helped to give me some independence, where I can say no to "the man" / corporate world. I did have to sacrifice a bunch financially to make that a reality. Do we have a good idea on the savings rates for Gen z in their 20s vs the previous generations? You would think that based on growing up around the financial crisis they might better savers, but more cautious.
In re home-ownership: It wasn’t until quite recently, as my immediate world began to seem more precarious, that I began to consider home-ownership desirable … and even then, solely as an asset which might appreciate in value as I squatted in it, as a last resort, should the worst come to pass. My dream was always a rent-controlled apartment somewhere close to public transportation, in a major metropolis, ideally with a great view, great view > square footage. (I’d live on a postage stamp in exchange for unobstructed northern exposure over Central Park … although the Plaza is not what it used to be, so that’s not an option.) Barring that, I wanted adequate rental space I could vacate on a dime if another city beckoned to me. Growing up I thought the idea of being attached to one place was noxious, and going back generations my family seems to have shared this feeling: on the U.S.-side, I think my great-grandmother was the last of us to own a place. And when I moved back to the U.S.A. (I am a dual-citizen, and this is one of my countries, but I grew up in the other), I was pretty surprised to hear home-ownership was “the American [sic] dream” … wouldn’t that just mean a lot of maintenance bills and property taxes and having to mow things? Ugh. So obviously this is a learned desire … but maybe it’s not a universal one across all of the U.S.A.? I’ve met others, like my family, who prized mobility and freedom over home-ownership, and who see that type of real estate as more of a potential money-sink than an investment. I also read an article recently which meticulously graphed out how - despite it being a culturally-ingrained desire - for most people in the U.S. home-ownership as an investment might be a terrible financial choice … if I can recall its title and find it, I’ll post a link below. Anywho, I don’t know where I was going with this. I’m not disparaging you or your cohort’s desire to own a home … or, more accurately, your desire to be able to afford home-ownership. I just wonder whether, as a value, we should be placing home-ownership itself on a pedestal, when its actual worth is questionable. Or rather: are there things wrong with our economic system, such that the value of home-ownership has become distorted? should we be striving for home-ownership, or should we be solving some underlying societal problems which blow the perceived value of home-ownership way out of proportion? Maybe my demographic info is pertinent here … but on second thought, nah. Really enjoying your uploads, please keep at it!!
I agree with you 100%. I’m also in the boat of, what I can afford purchasing wise is exclusively homes that need a lot of work and repair. To own, you need money available to repair things, replace things. I don’t have that. “Renting costs as much as buying” yeah but I don’t need to be living under the stress of the constant risk of $10k repair/replace bill. I don’t have that risk when I’m renting. I don’t have $10k to repair things. Everyone I know who has purchased a home is miserable and hates it and can’t afford the repairs. I’m with you, renting should be an option. Plus the idea that a mortgage locks you into a price isn’t true. Property taxes go up, HOAs go up. You aren’t locked into a price. In Texas where I live we have some of the highest property taxes in the country. To me it’s not worth it, because I don’t want to have to go into debt to repair my home. I’m debt free and I want to stay that way. I don’t think that makes me financially irresponsible but so many people want to tell me it does.
I think millennials and Gen Z will set the new standard for work. Hopefully giving workers purpose and better wages. We need to throw away the model of greed. I hope as well in government. But I don’t like wishful thinking.
Tom Lee has a great breakdown on generational cohort groups and how trillions of dollars are going to be released in about 10 years time as boomers pass away
Doing the GLord’s work, as per usual. I wonder how you view opportunities coming out of this COVID, “eyes on screen=beaucoup$”, post AI, and post worst-Supreme-Court-rulings-ever, eras in this country and the roles the US will actually end up playing on the world scale in the future?
I seriously think Genzie has it figured. I’m a boomer, but if I had to do it again, I would forgo the “American Dream” and find a way to make a buck as a digital nomad, and live in as many countries as possible. It’s a big world and easier to travel now than ever. Seriously, stop worrying about what you’ll do when you grow up… At least until you’re in your mid 30s or 40. Once you get out of the US for a while, the illusion will dissipate.
@@fuosdi64 - Eh. I’m not sure whether you’re being tongue-in-cheek or not, but on the off-chance you’re serious: these definitions are highly subjective and forever changing. A few years after Douglas Coupland published his novel, I awoke one morning to find myself transformed into one of the younger Gen X-ers. To my surprise, today I’m smack-dab in the middle of my cohort’s age range. Mom for most of her life was mid Silent Generation, but today she’s been redefined to its tail-end. My grandmom began as the youngest of the Lost Generation, got redefined into oldest of the G.I. Generation … then Tom Brokaw published his goddamned book, and my war-widow grandmom, her veteran brother-in-law, and her war-effort-volunteer sister, all found themselves renamed - to their chagrin, and against their will - the “Greatest Generation” by jingoistic, war-profiteering conservative hucksters who themselves never fought anything grandpappy’s lawyer couldn’t get them out of. So it doesn’t mean much. The Pew Research Center’s definitions are the most commonly cited, but theirs are neither the only definitions nor by any means authoritative.
@@fuosdi64 - Sorry, I’m not ticked off at you, nor do I mean to come across that way. The whole “Greatest Generation” p.r. campaign towards rehabilitating war (along with George HW Bush’s “By God, we’ve kicked the Vietnam syndrome once and for all!” quote of 1991, which seemed to kick that campaign into overdrive) get me kinda riled up. It’s wild to watch goons openly manipulate the national mood, and to be old enough to recognize how wildly they succeeded.
Do you feel people tend to seek to buy a bigger house than they need, because they think it's an investment? But if you live in a house you own, it's a non-performing asset. So seems like you should own a small place and invest the saved money in performing assets no? But, with small residences, renting gets more competitive than owning.
Sadly its only going back to the way its always been through history. Boomers never knew how good they had it and how it has to be protected for future generations. They way its moving is how its mostly been through history, war and Americans dying or discovery of new land (Mars 😜) are the only temporary resets. The financial system will never be allowed to reset. The difference now from the past - is digital / financial history follows you for life, you cannot escape your debts you cannot escape the system.
5:11 You seriously think of a mortgaged house is "something all your own"? It seems more like something that gets taken away if you get laid off. A mortgage only meant "yours" when a job meant job security.
Strong socialist vibe in this video, comment section seems to be responding to that. Not sure if that’s what you’re about, I didn’t get that vibe till recently.
@@fuerve I think extremely collectivist cultures like those of Korea and Japan have issues with xenophobia and extreme levels of conformity. If you don't fit into one of their homogenous social roles you're likely to be discriminated against. I'm sure there's other stuff but that's what comes to mind.
@magiteker - I would argue that “abolishing wealth” is a counterproductive framing. What the wealthy most want IS austerity for the rest of us. Also, what’s most feared by many in the labor force, or who are unemployed, is losing what little they have … even what they have is just a fantasy of becoming rich. (And many, misinformed by images around them, feel the minimum needed to escape a precarious existence is obscene wealth. The idea of being comfortably middle class has been all but wiped out.) A better framing may be “extending comfort and prosperity to everyone!” This better gets at the idea that, before they can pursue their vocation, universally what people first require is their basic needs met - air, water, food, housing, safety, love, education - and that, at the moment, most of the world lacks this base-level of security because production is badly organized … currently, at the whim of a very few people, who hoard resources by wielding state violence. I grew up in the ‘70s and early ‘80s, and my recollections of the late-“space age” (just ending as I reached ages 6 through 8, with the launch of Voyager and the announcement of Venera touching down on Venus), and of the lingering last breaths of the Age of Aquarius, and of the embodied final vestiges of the post-WWII promise (embodied in my family by my war-widow grandmom, and by my great-aunt and great-uncle), were that we weren’t so much promised “flying cars,” as we were rather promised peace and world citizenship within a global middle class. You can see this reflected in much of the print and broadcast media of the 1950s through late 1970s, particularly in advertisements; these ads often feature gadgets, but more interestingly are nearly universally framed against a backdrop of ordinary middle class comfort, peopled by an increasingly plural population - white and Black and Latinx friends, of all genders, gathered around the stereo in the living room of a modest split-level ranch home, enjoying evening cocktails … to identify just one such popular image which crops up repeatedly. Today, however, due largely to the ubiquity of borderless predatory capitalism (see, for instance, the obscene number of “special free-market zones” carved out of many countries, if not most countries, where democracy holds no sway and instead capital-holders reign supreme), most of the world still aspires to become middle class - not, as laughably mis-measured by the World Bank, in fleeting “purchasing power,” but rather as measured by more lasting socioeconomic metrics: education, health, safety, stable housing, personal savings, the accumulation of generational wealth, access to culture and work … in short, as measured by *security,* the opposite of precariousness. One of the biggest obstacles to politicizing people leading precarious lives is that, among those familiar only with the status quo, many have been trained by bosses and by community leaders to fear - and even hate! - unfamiliar ideas. They’re explicitly told that those pose a threat to what little they have! “Hey, you think you have it bad now, but this is how God/the economy” (now interchangeable terms to most of the pre-politicized labor force) “wants it … and if you listen to that sneaky [x]” (insert here any of the following: activist, professor, homosexual, racial and/or ethnic minority, heterodox economist, labor organizer, progressive religious leader, educated student, all representing The Other) “and let them gain a foothold into our tribe, then you will lose what little you DO have!” To someone with limited experiences, this threat is a persuasive scare-tactic. Talk about “abolishing wealth” and people who have next-to nothing, and who’ve internalized the voice of their boss, will hear “Hey, the labor union is coming for your ‘92 Honda Civic!” But if you talk about “extending comfort and prosperity to everyone,” folks will get a truer sense of what’s being spoken of: that we currently have the resources, labor power, and smarts to lift ourselves up, from fear and ignorance, into a state not only of peace and security, but into one of universal prosperity … ushering in a cultural and scientific renaissance eclipsing all others.
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thanks for watching everyone
Thank you for uploading!
Just happened to find your channel today while reading news about artificial intelligence through google news. I am glad I did because of how touchy conversations about economics can be. I am by no means an economist, though I still know quite a bit about the subject. Any how...Have you ever discussed the role on how global economics play as a troubling unique factor when it comes to wages and employment in America? It is a subject that few people ever talk about, despite how relevant it is to current conditions. I have tried explaining it to people my self, to mixed success. You hear all these people talk about wanting higher wages, when really the problem has less to do with getting paid too little when the federal minimum wage here is 2-100 times the amount in most other countries around the world. This from what I can gather the lead cause of work being sent over seas. Why pay one american to do a single job for $8 an hour when you can hire 20 people in brazil for that same amount of money? Our problems would not be this bad if it weren't for how poor the rest of the world is. Because so much of the world is in poverty, us being the richest paid workers in the world, as well as being the bearer of the global standard currency that is the US dollar, we end up having to pay the most for our own products, because of no one else being there to accept large price increase besides us.
Let me ask a deceptively simple question. Can you off the top of your head name a large non american corporation based in other countries that would hire an american worker to do difficult work when there are countries like taiwan with plenty of workers with much more experience working with producing semiconductors at 1/3 the cost? Recently i read about the troubles going on with the semiconductor plant being built in Arizona. To the point that people lost their lives due to disorganization and strict building standards needed for the factory to run safely. It didn't help that you had like 4 different contractors operating on their own separate schedules trying to work on a single building.
I feel like am going off on a tangent here. At the end of the day, I have had trouble finding more poignant economic news reports or conversations. Just listening and seeing you cover things feels so familiar in presentation to the way I would explain things. It is comforting. Not having to feel like I am some crazy lunatic believing what you or I might say. If there is one thing that I stick to as a guiding principle, that being to look at the broader picture of things. What may seem simple can be dazzling and confusing as a whole. As for as finances go, my life feels no different from how it was when I was 5 years old. I was born in 1995. I am now 27. I sit here wondering, how can it be that the economy feels no different today then it did over 20 years ago to live in. Granted I live in Illinois but still.
Bro, how did you land a FastCompany article? Did you reach out or did they talk to you first?
@@ArthurAugustyn they reached out to me
I appreciate you sharing your thoughts, I’ve been following you from TikTok over the past year. I’m a millennial and I also grew up with Steve Jobs vision of “Do what you love and you won’t work a day in your life”. I think this vision was a lie, and a better vision is “do what your good at, and build your dream life on your off time”.
I wish there was some optimism for the future, but I don’t see it.
its like Ikigai concept..
That "maybe" just hits you right in the feels.
This is a great video, Kyla. Mad respect for you holding yourself accountable on not illustrating the whole picture. It’s true that while the economy is good for some, doesn’t mean it’s good for all. Those few who it’s doing well for seem to be the only ones we hear from.
yeah i needed to gut check that big time
You're one of my fav resource channels when i need to zoom out from day trading and get to the 30k' view and perspective about the economy and markets. Really appreciate your work, hope you have another chat with Lyn soon, the soon to be launched BTC ETFs are going to provide some interesting new data points to chew on!
Cheers 🍻
U r a great presenter almost poetic😊. Anyhow on ur topic... this is my opinion, throw away social media, hasta la vista. I know it is a lot to ask, but i remember in 2000's hearing that the children of engineers developing all these internet stuff in silicon valley sent their kids to schools with no computers... that says it all
Gen X here ! You look like you have seen too much of the machine and it spooked you. Take a breather and keep going - you may not realize how important your voice is - even if reality breaks your heart
thank you for this
In the next 10 years I wouldn't be surprised if our generation begins to take the keys and real change happens. In this digital age we are more connected than we've ever been, meaning it is so much easier to organize. Someone can make a TikTok in California and a kid in Minnesota can listen to what they have to say. That is our major benefit that no other generation has really had before, the ability to influence across geography.
Thank you for being our voice Kyla, we definitely need more voices like yours to speak out about our plight.
Good luck with your quest, your generation already proved its mettle when you followed all unjust government mandates for covid, you really think a AI manipulated system/social media will allow you to 'organize' or to destabilize the system?
Reading this comment is hilarious after reading the comment written by @z74al
Influencers aren't going to save the world 😅 before social media the Internet was a digital library now it's a digital circus.
I'm a millennial who was raised by boomers and currently teach sociology to gen z college students.
I think your points are exactly right, and honestly I've been thinking more and more that generational conflicts are at the root of a lot of social problems. There is a pervasive sense among my students that older generations climbed the socioeconomic ladder and then kicked it out once they got to the top. Not only that but they feel like they're being handed a broken world to fix but given very few tools and resources to do so.
That said, while hyper-individualism is definitely something that is characteristic of (but by no means unique to) older generations, social media has created an even weirder version of it. The ability to think and analyze things systemically seems to have gotten watered down in the social media age. I've had multiple students say that we could address climate change by having an influencer take up the issue.
>I've had multiple students say that we could address climate change by having an influencer take up the issue.
🤕
Thank Kyla, love the content
great video Kyla!
Gen Jones here - so on point! I get so tired of hearing boomers and X'ers whining about this stuff. This is a new world and if they don't like it they'll be doing us a huuuuge favor to shut up, step aside and getout of the way of the world trying to become a better place all around us for those same reasons!
Amazing takes. Thank you. As a European, I would love to hear you cover more global issues, too.
Great video as always. It sucks for humanity that generational divides exist. Throughout our history, younger generations are oppressed and cant make older generations understand, so they just have to wait until the old die. This cycle goes on and on. Never was this more apparent than with that Hassan Minhaj Obama interview.
Great video Kyla!
Loving the closed captioning, kyla
Wonderful analysis.
Coming from Asia I’ve already seen this played out in China and Japan. The winner always takes it all and the future for the young is grim
You’re awesome, thanks!
thankk you!
Enjoyed listening
I agree. I feel like I hear many stories about how people were coal miners or other historically low paying jobs and being able to afford a house 50+ years ago, but today it doesn’t seem feasible.
I’m currently a college student and I feel to notice that 3 majors make up 85% of my school: Econ, Computer Science or Pre Med. these are important jobs but I feel that many are forcing themselves into these industries because every other college degree isn’t a good ROI. Personally I fall into 1 of those 3 but when I deeply think about I would rather do a job that only pays 60k a year but is my passion, but when my parents are paying as much as they do that just isn’t realistic to me. On top of the fact that I want to be able to afford a home and not have to worry about money.
Also what happens to society when we lose the humanity majors. Where do our therapists, social workers, teachers come from. Furthermore, AI seems like it could eat up Tech, finance, entry level law jobs. What happens when the two most popular studies become obsolete/ heavily reduced in X amount of years. This doesn’t even touch on the political unrest and rising class divide
I wonder what happens when the US stops bending and finally snaps
Protip - make flash cards for quotes. Just try to memorize 1-2 a day and randomly pick which each morning. When you find a quote you like, add it to the pile.
Looking yolked
I appreciate you
Speaking of scrolling, you might appreciate "Amusing Ourselves to Death" by Neil Postman, written in 1985. He traces the fragmentation of thought and experience back through TV to the telegraph and photography. Many of the exact points you make.
Gen Z was sold out aggressively and unapologetically.
Neil Howe truly has pulled an inception on the world. make ur own quotes. the future depends on it.
seems to me The Office dominates Gen Z's social life as well with all the memes and gifs
Nice article and video. I'm a millennial. I agree with almost everything you say in the video. I went out and bought rentals while I rented while I was in my early 20s. That has helped to give me some independence, where I can say no to "the man" / corporate world. I did have to sacrifice a bunch financially to make that a reality. Do we have a good idea on the savings rates for Gen z in their 20s vs the previous generations? You would think that based on growing up around the financial crisis they might better savers, but more cautious.
Even if you own a home you still owe property tax which still goes up every year...💸
"i have to find a quote" 😂
It's all literally going to come down to decision makers not putting capital above labor at every turn. Like everything else
my mind just keeps going to policy implementation that incentivizes higher rates of worker ownership to mitigate their surplus value being taken.
They're redefining work by not being able to find any.
In re home-ownership:
It wasn’t until quite recently, as my immediate world began to seem more precarious, that I began to consider home-ownership desirable … and even then, solely as an asset which might appreciate in value as I squatted in it, as a last resort, should the worst come to pass.
My dream was always a rent-controlled apartment somewhere close to public transportation, in a major metropolis, ideally with a great view, great view > square footage. (I’d live on a postage stamp in exchange for unobstructed northern exposure over Central Park … although the Plaza is not what it used to be, so that’s not an option.) Barring that, I wanted adequate rental space I could vacate on a dime if another city beckoned to me.
Growing up I thought the idea of being attached to one place was noxious, and going back generations my family seems to have shared this feeling: on the U.S.-side, I think my great-grandmother was the last of us to own a place. And when I moved back to the U.S.A. (I am a dual-citizen, and this is one of my countries, but I grew up in the other), I was pretty surprised to hear home-ownership was “the American [sic] dream” … wouldn’t that just mean a lot of maintenance bills and property taxes and having to mow things? Ugh.
So obviously this is a learned desire … but maybe it’s not a universal one across all of the U.S.A.? I’ve met others, like my family, who prized mobility and freedom over home-ownership, and who see that type of real estate as more of a potential money-sink than an investment. I also read an article recently which meticulously graphed out how - despite it being a culturally-ingrained desire - for most people in the U.S. home-ownership as an investment might be a terrible financial choice … if I can recall its title and find it, I’ll post a link below.
Anywho, I don’t know where I was going with this. I’m not disparaging you or your cohort’s desire to own a home … or, more accurately, your desire to be able to afford home-ownership. I just wonder whether, as a value, we should be placing home-ownership itself on a pedestal, when its actual worth is questionable. Or rather: are there things wrong with our economic system, such that the value of home-ownership has become distorted? should we be striving for home-ownership, or should we be solving some underlying societal problems which blow the perceived value of home-ownership way out of proportion?
Maybe my demographic info is pertinent here … but on second thought, nah.
Really enjoying your uploads, please keep at it!!
I agree with you 100%. I’m also in the boat of, what I can afford purchasing wise is exclusively homes that need a lot of work and repair. To own, you need money available to repair things, replace things. I don’t have that. “Renting costs as much as buying” yeah but I don’t need to be living under the stress of the constant risk of $10k repair/replace bill. I don’t have that risk when I’m renting. I don’t have $10k to repair things. Everyone I know who has purchased a home is miserable and hates it and can’t afford the repairs. I’m with you, renting should be an option. Plus the idea that a mortgage locks you into a price isn’t true. Property taxes go up, HOAs go up. You aren’t locked into a price. In Texas where I live we have some of the highest property taxes in the country. To me it’s not worth it, because I don’t want to have to go into debt to repair my home. I’m debt free and I want to stay that way. I don’t think that makes me financially irresponsible but so many people want to tell me it does.
I think millennials and Gen Z will set the new standard for work. Hopefully giving workers purpose and better wages. We need to throw away the model of greed. I hope as well in government. But I don’t like wishful thinking.
Tom Lee has a great breakdown on generational cohort groups and how trillions of dollars are going to be released in about 10 years time as boomers pass away
Shouldn’t there be someone gaslighting you after every point you make?
🛎️🙏
What do we work for if not for a better life? If this no longer is true, then work is antithetical to happiness.
Doing the GLord’s work, as per usual. I wonder how you view opportunities coming out of this COVID, “eyes on screen=beaucoup$”, post AI, and post worst-Supreme-Court-rulings-ever, eras in this country and the roles the US will actually end up playing on the world scale in the future?
Kyla keep going girl. looking gorgeous aswell. Gym rules...
#Headup
I seriously think Genzie has it figured. I’m a boomer, but if I had to do it again, I would forgo the “American Dream” and find a way to make a buck as a digital nomad, and live in as many countries as possible. It’s a big world and easier to travel now than ever. Seriously, stop worrying about what you’ll do when you grow up… At least until you’re in your mid 30s or 40. Once you get out of the US for a while, the illusion will dissipate.
I know this is off the topic but why did you cite Gen Z as 1996-2010, when most other sources quote it as 1997-2012?
idk that was fastcompany
@@KylaScanlon Oh ok. Well anyways good write up!
@@fuosdi64 - Eh. I’m not sure whether you’re being tongue-in-cheek or not, but on the off-chance you’re serious: these definitions are highly subjective and forever changing. A few years after Douglas Coupland published his novel, I awoke one morning to find myself transformed into one of the younger Gen X-ers. To my surprise, today I’m smack-dab in the middle of my cohort’s age range. Mom for most of her life was mid Silent Generation, but today she’s been redefined to its tail-end. My grandmom began as the youngest of the Lost Generation, got redefined into oldest of the G.I. Generation … then Tom Brokaw published his goddamned book, and my war-widow grandmom, her veteran brother-in-law, and her war-effort-volunteer sister, all found themselves renamed - to their chagrin, and against their will - the “Greatest Generation” by jingoistic, war-profiteering conservative hucksters who themselves never fought anything grandpappy’s lawyer couldn’t get them out of. So it doesn’t mean much. The Pew Research Center’s definitions are the most commonly cited, but theirs are neither the only definitions nor by any means authoritative.
@@fuosdi64 - Sorry, I’m not ticked off at you, nor do I mean to come across that way. The whole “Greatest Generation” p.r. campaign towards rehabilitating war (along with George HW Bush’s “By God, we’ve kicked the Vietnam syndrome once and for all!” quote of 1991, which seemed to kick that campaign into overdrive) get me kinda riled up. It’s wild to watch goons openly manipulate the national mood, and to be old enough to recognize how wildly they succeeded.
Do you feel people tend to seek to buy a bigger house than they need, because they think it's an investment? But if you live in a house you own, it's a non-performing asset. So seems like you should own a small place and invest the saved money in performing assets no? But, with small residences, renting gets more competitive than owning.
why do the captions not match
Sadly its only going back to the way its always been through history. Boomers never knew how good they had it and how it has to be protected for future generations. They way its moving is how its mostly been through history, war and Americans dying or discovery of new land (Mars 😜) are the only temporary resets. The financial system will never be allowed to reset. The difference now from the past - is digital / financial history follows you for life, you cannot escape your debts you cannot escape the system.
5:11 You seriously think of a mortgaged house is "something all your own"? It seems more like something that gets taken away if you get laid off. A mortgage only meant "yours" when a job meant job security.
looks like an abduction ransom video GREAT INTEL KYLA keep em coming
Strong socialist vibe in this video, comment section seems to be responding to that. Not sure if that’s what you’re about, I didn’t get that vibe till recently.
you're gorgeous
What's wrong with individualism?
Isolation, selfishness, needless competition. The other end of the spectrum has problems as well.
@@guitar2935 thanks for the legit reply. What would you consider to be the alternative problems?
@@fuerve I think extremely collectivist cultures like those of Korea and Japan have issues with xenophobia and extreme levels of conformity. If you don't fit into one of their homogenous social roles you're likely to be discriminated against. I'm sure there's other stuff but that's what comes to mind.
Do Gen-Z and Millennials focus more on experiences because the American Dream is out of reach due to Boomer hoarders?
commercial real estate driving a desperate push to no wfh rn too
Wealth needs to be abolished and society reshaped so nobody needs to be rich in order to survive.
@magiteker - I would argue that “abolishing wealth” is a counterproductive framing. What the wealthy most want IS austerity for the rest of us. Also, what’s most feared by many in the labor force, or who are unemployed, is losing what little they have … even what they have is just a fantasy of becoming rich.
(And many, misinformed by images around them, feel the minimum needed to escape a precarious existence is obscene wealth. The idea of being comfortably middle class has been all but wiped out.)
A better framing may be “extending comfort and prosperity to everyone!”
This better gets at the idea that, before they can pursue their vocation, universally what people first require is their basic needs met - air, water, food, housing, safety, love, education - and that, at the moment, most of the world lacks this base-level of security because production is badly organized … currently, at the whim of a very few people, who hoard resources by wielding state violence.
I grew up in the ‘70s and early ‘80s, and my recollections of the late-“space age” (just ending as I reached ages 6 through 8, with the launch of Voyager and the announcement of Venera touching down on Venus), and of the lingering last breaths of the Age of Aquarius, and of the embodied final vestiges of the post-WWII promise (embodied in my family by my war-widow grandmom, and by my great-aunt and great-uncle), were that we weren’t so much promised “flying cars,” as we were rather promised peace and world citizenship within a global middle class.
You can see this reflected in much of the print and broadcast media of the 1950s through late 1970s, particularly in advertisements; these ads often feature gadgets, but more interestingly are nearly universally framed against a backdrop of ordinary middle class comfort, peopled by an increasingly plural population - white and Black and Latinx friends, of all genders, gathered around the stereo in the living room of a modest split-level ranch home, enjoying evening cocktails … to identify just one such popular image which crops up repeatedly.
Today, however, due largely to the ubiquity of borderless predatory capitalism (see, for instance, the obscene number of “special free-market zones” carved out of many countries, if not most countries, where democracy holds no sway and instead capital-holders reign supreme), most of the world still aspires to become middle class - not, as laughably mis-measured by the World Bank, in fleeting “purchasing power,” but rather as measured by more lasting socioeconomic metrics: education, health, safety, stable housing, personal savings, the accumulation of generational wealth, access to culture and work … in short, as measured by *security,* the opposite of precariousness.
One of the biggest obstacles to politicizing people leading precarious lives is that, among those familiar only with the status quo, many have been trained by bosses and by community leaders to fear - and even hate! - unfamiliar ideas. They’re explicitly told that those pose a threat to what little they have! “Hey, you think you have it bad now, but this is how God/the economy” (now interchangeable terms to most of the pre-politicized labor force) “wants it … and if you listen to that sneaky [x]” (insert here any of the following: activist, professor, homosexual, racial and/or ethnic minority, heterodox economist, labor organizer, progressive religious leader, educated student, all representing The Other) “and let them gain a foothold into our tribe, then you will lose what little you DO have!”
To someone with limited experiences, this threat is a persuasive scare-tactic. Talk about “abolishing wealth” and people who have next-to nothing, and who’ve internalized the voice of their boss, will hear “Hey, the labor union is coming for your ‘92 Honda Civic!”
But if you talk about “extending comfort and prosperity to everyone,” folks will get a truer sense of what’s being spoken of: that we currently have the resources, labor power, and smarts to lift ourselves up, from fear and ignorance, into a state not only of peace and security, but into one of universal prosperity … ushering in a cultural and scientific renaissance eclipsing all others.
Dont force your communist BS here
Talk and translation are no sinhronized
Heaviest…”Maybe”…ever.
First!
lol, proof of gen z
yesss
I HaVE tO FiND a QuOTe haha
Do you bench press or something? Your shoulder line and upper chest is better then me and I'm a dude 💀
congrats on 1pl8
twittergang
Coming from Asia I’ve already seen this played out in China and Japan. The winner always takes it all and the future for the young is grim