MSNBC Accidentally Airs The Truth
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- Опубликовано: 15 май 2024
- Marketing Professor Scott Galloway brilliantly spelled out on MSNBC why young people are bitter about their financial situations. Cenk Uygur and Ana Kasparian discuss on The Young Turks. Your Support is Crucial to the Show: tyt.com/team
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"Scott Galloway, the renowned marketing professor and co-host of the Pivot podcast, joined Morning Joe this week to discuss his latest book, “The Algebra of Wealth: A Simple Formula for Financial Security.”
Galloway spoke about the challenges facing young people today and pulled no punches in accusing older generations of failing today’s youth - especially men."
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240425__TB04Professor
The price of a home has more than doubled in the past 4 years.
I recently bought a small home for $250k. The houses I wanted for under $200k 5 years ago now cost $450k+
And a one bedroom apartment is now a luxury costing almost $2k a month ridiculous.
@@mreshadowthey charge that much because you pay that much.
@@kennybachman35 Ah, yes it is my fault 😉
Not exactly a voting with the wallet scenario when everything went up and I definitely didn't buy them all...
@@kennybachman35 You're describing a Captive Market. It's strange you think that's OK.
Poor people get charged for not having enough money in the bank.
yes this happens in Canada/Ontario and i'm thinking class action lawsuit. It's despicable and I would love to know the numbers.
The only crime Bernie Madoff committed was not ever taking a massive loss to write off on taxes.
No they don't.
So make Poverty a felony and the U.S. can legally imprison all the homeless and poor. Then bring back the debters prisons . The Country would have all the cheap labor it needs.
have a bad feeling supreme cunts not going to rule right on sleeping being a right--- not everyone can afford hotel rooms when they can't make it home between shifts...
If young people keep Voting DEM, they deserve what they get
You probably blame that damn FDR for fighting the wrong enemy
Democrats and Republicans are both to blame. Take corporations from the mix because the system has been selling out to other countries for years crying how they are American
I’m 68, contributed to SS all my life, worked over 40 yrs in a thankless blue collar factory job. Even contributed to a pension plan,,well now retired, due to health problems. I can barely get by on what I get nowadays. There are millions like me also, so don’t tell me I’m one of the privileged rich! What a crock!
💯
Blue collar can also be sell outs alot of those jobs are being sold out by representatives making deals with corporate to benefit certain union individuals.
❤️❤️❤️❤️❤️❤️
If you have never owned a super yacht or a fleet of private jets, they are not talking about you. The Medicare thief Florida senator Rick Scott, CEO tax cheat David Far, Patrick Britton-harr, Peter Theil, Lenard Leo, and Brett Favre the welfare queen are some examples of the assholes he is talking about
You are vastly more wealthy and well-off than MILLIONS living in the U.S. right now. Super Wealthy in fact.
Spot on !
Iam 55yrs old . Young people now are in a worst place, $
Then I was 25ys ago.
It's by no fault of theirs at all. The deck is stacked against them .
At least they should try to work hard. But when they don’t want to work hard and look to blame other factors is just plain laziness in my book.
The whoa is me argument.
@@eyelovecolorado2195 Why in the absolute hell would I ever ante into a game that I knew was rigged?
I mean, feel free to do it yourself, but, don't ask me to.
@@TimeSurfer206 that’s good for my kids to get ahead when you don’t want to work hard. So thanks for making it easier for them. Lol
Tell the whole truth and that is that the deck has always been stacked and the middle class allowed it. Their chickens have come home to roost.
I’m not a young person (50s) but I AM middle class and I’m tired of paying so much in taxes and seeing no benefit-all while homelessness in my state is rampant, the cost of even state college is astronomical (forget about grants if you make just enough money to be “not poor”), rents are obnoxiously high due to wealthy corporate landlords, and tech millionaires find loopholes to continue to make money off their money. It is not just generational, it is crippling to us all.
I agree. Economics affect everyone. There are winners and losers across all age demographics.
Big corporations came in and bought many homes in my area. Between them and taxes, it’s difficult
Without scholarships and grants, I couldn't even afford to go to community college
He’s got a solid TedX detailing his statements. Anyone watching this should also watch that.
I watched it. Great speech, long over due
When they start feeling sorry for themselves, have them watch The Andy Griffeth Show, to see life when their parents grew up. They sewed their own clothes, walked to the library to do research, building and fixing stuff, cooking all their own meals, and after doing the chores, enjoying the 3 channels on the tv, or sitting next to the wall to talk on the phone. Then, have them watch The Waltons so they can understand how their own grandparents did so well at saving money.
They don't even know the biggest bolder they have is their addiction to the stuff they're eating everyday that is making them sick and dependent on drug companies for the rest of their life, while paying outrageous amounts of money to health insurance. They have to be willing to learn to leave the system that's failing them, and get out of the trap. DON'T depend on the government for anything!
I know. Young people act like they have it so bad but they never had to face the Great Depression, polio, being drafted into the Vietnam war or threat of nuclear war.
Well the Biden administration brought that last one back into play. 😂
Wow there's some sharp ones on THIS page. Convincing younger people that the source of their problems is "boomers" is a deepstate psy-operation. Of course its a complete assault on common sense and logic, but some people are easily fooled.
I'm a boomer and I can't say that I disagree with the man. Things are much harder now than they were for me. College cost me $14/hour at a major university. I paid tuition through a summer job. I paid rent with a part time job while in college. I bought a new car and a house within 2 months of graduation after getting a job with no financial background to prove I could pay beyond having a job for a couple of weeks. That was my first credit request because I didn't need a borrowed penny in college.
Congratulations, you're generation f*cked up this country
The preferred policies of your generation created all of this. From the moment your lot favored Reagan and still ongoing today.
What is wrong with all you previous repliers? -First of all "who self describes as a boomer?" -Um BABY BOOMERS, that is the generation born between 1946 and 1964. Tons of babies were born, thus a "baby boom". Jee zus how do you not know that, and think it's just some insult"?
And you other two, jumping on the OP like HE PERSONALLY ruined things for the younger generations. He's just admitting he was lucky because the dynamic described is true. Would you rather he say it's a bunch of bullsh and young people are just lazy etc.? You don't know if he voted for Reagan and you're not very informed if you think Reagan (or any president) had all that much to do with it.
Thanks for admitting that Billy. I could probably count on one hand the number of Boomers I have seen willing to face it publicly.
@@anthonytwohill9726 All of what? The most prosperous nation on Earth? The lowest inflation of any major nation? Too much food? Too many smartphones and huge TVs?
Looking at the history of humanity and the entire world currently, how spoiled are you?? Agreed, boomers are responsible for how absurdly spoiled you are. How many major wars have you fought in for the freedoms you enjoy to bitch and complain?
I’m a tax lawyer. 42 years. Reagan is the one who gutted the middle class. Some day when someone actually gets a tax lawyer to explain the last 45 years since Reagan. He cut rate and wiped out interest deduction, which only hit people with debt. Who is that, middle class down. Interest on investments was not touched only the interest on personal debt. That is where it began.
David, I’d truly like to know more about that. I’m a litigation attorney but know very little about tax practice. All I know is that I’m constantly paying them and I have to pay people a lot of money to figure out that out. I’m sure you and I both know plenty of lawyers who couldn’t stay in private practice because of taxes. I know it discourages plenty of family doctors and dentists, too.
I hear a lot about what Reagan did, but 8 years of Clinton, 8 years of Obama, and 4 years of Biden didn’t do anything to fix it.
@@thurstonhowelliii335 Hilarious how you leave out the 4yrs of Papa Bush and 8yrs of his son who were both Republican, and only mention the Democratic presidents. Bush brought us 2 wars and cratered the economy in 2008. The worst in decades. You also forgot Trump. It's as if you're wanting people to forget who cratered the economy in 2020 with his mismanagement, lies and bungling of Covid? Trump also spent like a drunken sailor and saddled us w the highest debt and deficit of any president ever when he left office. You can critique the Dems all you want, but leaving the Republicans out of the critique is absurd beyond belief.
Every President since has followed suit. All of them puppets. The real architects were jack welch and that former ceo of general electric in the early 80s.
Its quite clear, both sides are paid to maintain the illusion of democracy.
Notice the three things, while "fighting", they "miraculiously" come together in some sort of greed porn orgy, are trickle down economics, endless wars, and shitting on our 4th ammendment rights.
@@thurstonhowelliii335, let’s not forget Trump who spent a whopping $7 TRILLION the first three years in office! This is BEFORE COVID!!!! No President in history ever spent that much. Now you may ask yourself….”on what”. That’s the question of the decade. He had gutted or left bare bones every single department or program that was set up to HELP the American people. This is the reason the CDC couldn’t react to Covid like Obama had set it up for any pandemic. Back to who spent more…..how about those 15,000 LUXURY GOLF CARTS that Trump had delivered around the WORLD by the SECRET SERVICE??? All taxpayer money. I’m done. This rabbit hole is too deep.😠😠😠😠
Vocational/ Technical High School gave me a life skill with NO debt. Employed my whole life with a skill I got in high school.
It's rather enjoyable listening to two millionaires talk about how tough it is for Americans.
Ha, sounds like Bernie Sanders and Joe Biden having a beer together.
I’m turning 60. My husband died so now I’m no longer filing married. I had to pay $14k this April. For what a bomb. I’m pissed.
You most likely voted Biden
as you should be--- sorry not in prayer mode or I would send some your way---
Middle age and retired people are also suffering financially, it’s not just young people.
Whataboutism is soooo original!
The young are suffering the most though
So true it’s not just young people it’s unacceptable that retirees have to get part time jobs when they paid their dues, but people under 30 barely even have a path to retirement.
@darkmantlestudios Oh stop it. Not every older/middle age/boomer person had the same advantages as some of their peers, like all generations. Older people with low or fixed incomes are being booted out of rentals they've been in for years due to rent being jacked up. Disability and social security pay hasn't seen an increase in ages. Imagine being older (viewed as less hirable) or sick, or disabled in some way...with either no or outrageously expensive health care expenses...and trying to live on a fixed income (below the poverty level) in an economy of greedflation where everything is exponentially more expensive. Not just rent but utilities, car insurance/repairs, etc. Middle-aged to older people don't have parents to move in with like (at least) many younger people do.
Imagine surviving on the street at 60+ and/or sick.
Think before you speak such insensitive, stupid things.
@@NonyaSmith How about you come down off that cross and join us down here
Scott Galloway has been sounding the alarm for many years. Both major political parties are totally complicit in maintaining the status quo.
Amen 🙏
Foreign Wars, and Illegals, yes that is where our taxes are going right now, for sure
"youth people"? Pfffft I am over 40 and never had the opportunities like my parents did! I went to college; I am in mountains of debt and never got a job in the field of study.
Me too😂
And it's only getting worse. You had few opportunities, yet they've figured out how to squeeze younger generations so they have even fewer. Not many people these days are truly doing well
I’m Gen Z and received a college degree paid for by my parents. I've worked 60+ hour weeks for the past eight years, and I still can't afford this economy's extreme cost of living. Wages are ridiculously low and every financial policy in this country is designed to transfer the wealth young people in previous generations enjoyed to the hands of the ultra-wealthy. We have no hope but to move to another country and take our chances there.
If they want us, if you speak another language, if you can get a job permit.
@@gracewright7938 I’m moving to Paris this fall. The cost of living is significantly lower than where I’m at now. You can get your Master’s in one year instead of two and for €1,700 instead of $40,000. After you graduate you can legally work there, and if you stay 5 years you can apply for citizenship!
Are you saying Biden, the Democrats, and Bidenomics are not working out?
That's odd, they're telling us all's well.
Things worked great under Trump, I wonder what happened?
Well either you voted for Biden’s socialism or you didn’t vote at all! And, yo parent likely were enriched under Trump’s policies!
Where do you live san Francisco?
Its not just young people. its alotta people young,middle age and old. Just keep falling behind, yet keep working harder and harder.
I love how he said "The people around this table" as an indictment aimed directly at the people who are complicit in all of this, the mainstream US media.
Trump gave away a 14% corporate tax break.
And people thrived. Biden then put an end to that.
People thrived because Trump printed more dollars than existed since this country began. Quantitative easing is another name for unlimited credit limit. Obama created 9 trillion in 8 years digging us out of the Bush recession/depression. Trump created 8 trillion in 4 years.
And exactly what happened to revenue? THe exact same thing that happened after every tax cut. Total revenues increase. Go figure You kids really have to learn how to think but all you're really interested in is envy.
@@TheseUniformsAreLame you're on some hallucinogens if you think trickle down theory even helped anyone
@@TheseUniformsAreLame where's the peer reviewed studies?
Three relevant things: 1) Gallway was wrong about minimum wage - it is $7.25 an hour not $9.25 an hour - making the situation worse. 2) Most people don't get to collect unemployment because companies hire us as "contractual" employees - which means we cannot draw unemployment - and the companies know it - and do it on purpose. After 18 years at the same place, I can't get unemployment. 3) Nobody in a low-wage job works full-time (like Fox was talking about the other day) because companies don't want to pay benefits AND low wage workers get a different schedule each week so you can't get a second job. They want you to be their slaves.
You must be in a red state. Minimum wage is over $14 an hour in certain states. I'd say, MOVE.
@@amymoorehead7185 federal minimum wage is $7.25. You're right, blue states tend to have higher minimum wages than the federal minimum. But it is not an option for everyone to move because they make minimum wage. So nice sell your underwater house Ben Shapiro argument you got there. Progressives should care about the whole country.
@@amymoorehead7185you need to do research. Saying things without knowing what you are saying shows your ignorance.
@@amymoorehead7185like where California then they taxed the shoite out of it?!?!🙄🙄😆🤣
@@CorritOUT Yes, a blue state. Not California. Another one (who's taxes support those red states that don't support themselves).
Did anyone notice the face of the news reporter as Galloway described young people being upset that their lives were being speedballed in their faces? It was the look of incredulity, which proved how disconnected many are from others' struggles. These young people aren't lazy, their livelihood possibilities have been stolen from them and this news reporter seems very reluctant to accept this
I graduated in the 80’s my job possibilities were bad, low paying-lived paycheck to paycheck for 20 years. Had to share an old duplex with 2 other roommates in my 20’s…I honestly don’t want to hear it. Every generation has its challenges. Unfortunately social media has created high expectation and zero gratitude.
I’m 32 with two college degrees and a full time job and I still can’t afford to move out of my parents house.
get a government job with a security clearance.
Do you sleep in their basement, perchance?
@@TheRisingFury nope I sleep in a bedroom still.
What kind of degrees do you have? It’s not about having a degree- it’s about what kind of degree you have and is it marketable.
@@a_numbers_girl7025 you accidentally contacted me instead
My mom always said that middle class are just poor people with class!
democrat lying politians are just rich people spending your money 💰
I really don't like it when people assume everybody over 50 is rich. Half of the homeless population is over 50, and about half of the boomers retire without any savings.
As of a few years ago, I read that women over the age of 55 is one of the biggest groups of people who are becoming homeless
They get everyone to focus on raising taxes for the richest, rather than lowering their own
@@musicalADD_theband Is that really so bad? An analysis of all types of taxes, including income, local, and sales taxes, would indicate that billionaires pay the lowest percentage of their earnings in taxes compared to any other group. This regressive tax policy exacerbates inequality, which is bad for everyone, including the wealthy.
@@markrittman2437 I’d rather have my taxes, lowered than their’s increased. There’s only ever talk about increasing their taxes never about decreasing ours.
Give me a break about the tax B.S. stop sending our money overseas.
And he'll never be allowed back on TV mainstream media again.
They are also victims of 40 years of shrinking education budgets.
Very much so, but they're also the victims of an education policy that doesn't actually teach them anything other than the answers to the exams.
😂😂😂😂😂. Maybe go
look at the US budget and state budget, and see how much money it is getting. Then look at what party controls all education spending and unions. I mean, yall are really this brainwashed.😂😂😂😂
@@TheAdamReedThomas A trumpcuck calling people brainwashed... Oh, the sweet irony. 😂😂😂😂😂
Same..
@@TheAdamReedThomaswho’s cutting education spending? Hint: the same ppl who want creationism taught in a science class of a private school.
The young people are going to end up tearing down the walls because they have NOTHING TO LOSE!
Yeah, but we can feel good knowing our taxes are paying pensions for retirees in Ukraine.
It is just about bleeding, burning the wealth.
I am 51 and doing ok. I have zero student loans. I am 100% comfortable taxing corporations and wealth and forgiving student loans.
Of course you are. LOL!!! Tax the borrowers and their family.
Please for the love of God wake up rub the sleep out of your eyes and see what is going on. It's so simple yet people refuse to recognize what's actually going on. This world is going back to the 13th century. A time when kings and Queens ruled without question. Dukes and Barons were granted land and titles. Princes could commit heinous acts against the people then be simply pardoned by their parents, whose word was law. The corporations are rapidly becoming the new monarchy. They have laws in acted to protect and conceal their crimes. The same way the monarchy used the church. The similarities are both astounding and horrifying. Wake up people and long live the king.
Really? No- no forgiving student loans. Do I think students should sue their universities for worthless degrees- big time! Universities need to stop scamming students with absolutely worthless degrees.
"Hitting the nail on the head!"
It's about time mainstream news hear this.😶
Dude, Baby Boomers were born between 1946 and 1964, and most of them are in their 60s and 70s now. A lot of the people who are getting called "Boomers" these days are actually Gen Xers, which is ironic since Generation X was dismissed by the Boomers as the "slacker generation," and Gen Xers were complaining about Boomers long before many Millennials and all of Gen Z were even born.
The generation that voted for Ronald Reagan twice in the 80s that started this trickled down economics.
@@johnwebb2442 Which generation? Gen Xers were in high school in the 1980s. And the reason the Boomers voted for Reagan in the 1980s was because of the recession of the 1970s during Carter's term.
@@johnwebb2442 Government has had over 40 years to stop Your statement ------They have not. you going to blame Reagan and his DEMOCRAT Congress forever ?
Imagine, the absolute stupidity of the very notion that an entire generation can be blamed... for anything, really. I don't think the folks at MSNBC are too bright.
I can't believe this country isn't tired of taxes going everywhere else but here!!! Disgusting🤮🤮🤮
We are. It’s why I’ll either vote for Trump or Kennedy.
@@BetaBuxDeluxneither will do anything. Last time trump did zero on infrastructure and the only domestic spending will be done on more welfare for the moochers. Trump is dedicated to wall street which means nothing will change at all except probably war. Trumps public who will have to justify that, and he will. Kennedy is way to weak to do anything except whst hes told. Hes already worrying about somebody killing him and hes not even in the top running. They'll scare him into doing anything they say.
Skip voting, call your congressmen and demand they REPEAL the federal income tax AMENDMENT and the federal reserve bank act. We'll start over reelecting every last person with a government or banking job.
Yes this country has become extremely depressing. The American dream is GONE.
The thing is, it's been gone even before the housing market crash in 2008. Easily since 2001, 9-11 era.
American nightmare
The future is bright, my kids will be crushing life, more opportunity than ever for them🤷🏼. Glad to know their competition already gave up
@@TheAdamReedThomasas a good Christian, why are you taking such glee in it? We should have empathy for people whether we agree with them or not. Love and compassion, not snark. Also there is that "turn the other cheek thing" not "get my gun".
Only if you quit junior
Minimum Wage here in New Zealand where I live $23.15 per hour....nobody can live on $9+ per hour, that's just ridiculous!!
Yep cost of living has not caught up with current times.
Btw I love NZ been there 11 times
i considered moving to New Zealand, but I've heard it's pretty expensive to live there, even in the low income areas.
aren't y'all in a recession?
@@lowboyyy They don't have a rent crisis. So what is more important the rich making a ton of money or the average person living well?
This guy hit it right. Years ago, the USA had a powerful manufacturing base. Anyone could get a job. Then mfg shifted to China. That, plus the current government has caused the economy to fail so badly that there are no opportunities for young people. Adding to their misery is the extremely high cost of getting a college degree. It is a story of a once successful country in serious decline.
I disagree with a lot that I hear on this show, but they're spot on here. Both parties have abandoned working people.
The jobs were off-shoreed years ago or no longer exists.
We gave up the jobs for cheaper stuff.
same in the uk
They’re the same party on a federal level. More democrat legislation has made rich people richer, they both keep us in constant war to milk our tax dollars to feed the military industrial complex, and republicans have made more federal anti-gun legislation.
Their main goal is keep us all at each others throats so that we’re too focused on voting agains the opposite party to consider voting in a third party and having them both lose their ultimate power.
Old people not gonna like hearing this.
And for a laugh, who do you consider "old people"?
@@skontheroadAnyone over 55
@@angelgjr1999 That 55 number will change once you get there.
No, they're stunned that you can't figure it out like they did. The young used to be resourceful. Now they just watch porn, play video games, and bitch.
me when old people
I’m 36 years old. I work 40 hours at a minimum per week. I’ve worked since age 16 continuously with one 6 month period unemployed during my first semester of college. I am a college graduate. I pay twice as much for half of her square footage I did more than ten years ago and I can’t qualify for a loan to buy a house when I pay $1400 a month in rent. Make it make sense.
They want serfs and oligarchy… it’s late stage capitalism baby!!!
Your taxes are benefiting other countries. Continue your hard work!
What college degree do you have?
insane racist progressive Marxist democrats
What about the fact that NAFTA sold out all the job market of our country back in the early 90s. And lately we feel it real bad.
How did this awesome difference in income come about? Reaganomics, Citizens United, deregulation, etc.
The difference came about because some people worried more about the future than to see how fast they could spend their money.
Israel, Ukraine and Taiwan needs our taxes 😢
I was born in 1980 and let me just tell you. I'm just as poor today as I was back then. It's literally the government that keeps you poor.
Bad decisions and not understanding how to build wealth keeps people poor while others start with nothing and build wealth in spite of government. I learned in my on life it begins and continually requires rigorous self-accountability.
It is not the government that keeps you in your place, it's the monopolistic, very wealthy Corporations and their billionaire owners that control all branches of government. They are invisible. They work behind the scenes through dark money and 24 hours, 7 days a week, they have high priced staff lobbying American state and federal legislators. The Government is just the pawn of rich. I studied government, worked in government writing oil regulations with industry helping every step of the way.
Younger BOOMER HERE, it's been this way my whole life. We finally juggled everything to buy our first house at 50 yrs old. I am 67 and my husband is 68. We are Boomers, as I said.
If you are 50, you are NOT a Boomer. You are part of Gen X. You are a young Gen Xer in fact. Boomers screwed us too.
@@billiejowhite3638 I am 67 and my husband is 68. We are Boomers, as I said.
I am past rage at this point. I am feeling something far worse. Indifference. I don't work, am not looking for a job, nor do i care to. The social contract has been severed, and i no longer give a shit what happens to the USA or any other country for that matter. I am blackpilled by current affairs and we the people are powerless to stop the pilfering, corruption, inflation, or invasion.
If you are taxed 50% you effectively work half of the year for free. I value my time more than anything. No one on their deathbed looks back and wishes they had spent more hours at work.. Let it rot.
people cannot afford a house so why bother having a family.
I just cringe when people say they spend $2k a month just on childcare. Then factor in the huge house in the suburbs that costs an extra $2k a month in mortgage, taxes and insurance versus a small home or rental.
They even have a tax deduction for their yachts.
This all goes back to scotus Citizens United ruling. We were silenced since corporations can speak louder with money than we can at the polls. We need people in congress (in supermajority) willing to codify the court, the tax laws, health care, education, etc.
We need young people running for office instead of chaining themselves to a bridge. Run, vote, change it. I’ll vote for you.
I'm a young American and feel no rage tbh.
You know why the rich are getting richer? Because governments corrupt over time until they collapse under the weight of their own poor policies-this has always been the case, and our government is approaching its expiration date.
This issue is exacerbated by medical and technological advancements; the elderly are able to work longer than they used to, both due to greater quality of life at age, and technology enabling a less physical workforce.
This is not to say that the taxes are fair, they are not. This is expected historically. Again, once this government collapses, the new government (or governments) will be led by leaders forced into political positions, rather than politicians forced into leadership roles.
This is how generations rotate their duties, between working hard and coasting off the savings of previous hard-work until collapse. As my father used to say; "Some days you're the bug, some days you're the windshield." either way it isn't going to be pleasant.
Don’t forget to mention the biggest culprit - every time money printer go brrrrr, it benefits those who hold assets at the expense of those who don’t. Inflation is crushing the middle and lower class
The rage has been there people. I’m a gen x witness to gentrification and price hikes because of greed.
Yes, BUT you would be one of those gentrifiers if you could be. with their stupid and trendy and shallow materialism. No doubt you can linger with your friends at Starbucks as you enjoy your $8.00 cup of mediocre coffee. Don't you see - you ARE a part of the problem, but the poor part?
This guy is talking the complete truth. Better get him off the air.
The truth is inappropriate in America.
Any conversation about wealth disparities that doesn’t include a discussion about the federal reserve and its money printing policies (massive inflation/debt creation) is incomplete at best and completely meaningless at worst
I'm glad the Professor called them out, too. I'm sick and tired of hearing these people on cable news commenting about how this is one of the best economies in the world. While at the same time, you have millions who cannot afford their rent and thousands of people homeless in the streets. How does that make sense? The denial of what's happening in America is astounding!
I'm a Gen Xer and have been pissed for the last 30 years. The difficulties the Millenials and Gen Z are facing are the same difficulties we faced and continue to face everyday. The only difference is nobody paid attention to our plight because we are a much smaller generation that followed the Boomers and were told to shut up and go to work. Now the table has turned because this Ponzi scheme of an economic system has affected too many people and can no longer be ignored. While Gen X has learned to adapt, the Millenials and Gen Z, like the Boomers, have been raised with a sense of entitlement which is making it much harder for them to manage their lives as a consequence of all the lies they have been told. That's why I believe Gen Xers are one of the toughest generations because we were raised with the understanding that life is tough and the world does not revolve around us. The one good thing about this current situation is that it is bringing to light how awful and unfair the capitalist system has become. Maybe now serious changes can be made but I won't hold my breath. I wish the best for everyone.
💯
Correct...GenXer here and I just learned early on that nobody cared about my feelings and that working 6 days per week indefinitely and feeling afraid to take your saved up PTO for fear of being replaced whilst on vacation was simply the way it was, and after 30 some years of grinding it out....I'm still doing it and will till I die!
I’m a X’er and we were built differently…struggled and didn’t want our kids to have that struggle so we GAVE and NOW they are a GENERATION that fills entitled. Align that with the fact we voted people in office that didn’t have our interests and also some that voted against their interests.. this is where we are🙏🏽
I'm a Boomer, and I'm with the kids on this.
Literally. I want that "American Dream" bullshit I was sold.
Either cough up, or I'm going to ask to speak to the Manager.
😂
I saw a tiktok that was saying something like “we went too hard on Karen’s they were bullying corporations and keeping inflation down”
Economic opportunity comes from land, labor and capital. When you’re young, you only have labor, the other two come with decades of effort. That’s always been the case. Young people need to understand that.
When Trump debated Hillary Clinton he said the tax system was rigged.
It is. By Congress. I worked for IRS during the 1986 tax relief. I did my own study while doing system analysis testing. The poor did well as did the rich. It was the middle class that had their alimentary canal re routed. I was told to destroy my results and got a good talking to. Congress. It happens in Congress.
@praizequeen Great comment, people don't want to face the truth or hear it ..sad and strange
We have to tell the truth at this point, our system is failing. We have the top half of 1 percent owning 80% of wealth
That's not stopping anyone from getting ahead. The bulk of those assets are in the stock market.
@anonymoususer4376 YES IT IS. Literally every member of my family was harmed by Enron-level corporate crime, in different industries.
Where do you think the money comes from? Why could a summer job pay for college? Why could two people working minimum wage cover Manhatten rent?
@@l.w.paradis2108 Enron failed because they didn't follow standard accounting practices. Over inflated assets and hid corporate debt. Their CPA AA was also dissolved. What other company or industry had an insider accounting failure of that magnitude?
What does paying for college from a summer job or minimum wage paying for NY rent have to do with the stock market and unrealized gains of the top .5%
That's the people sitting around that table acting like they are not the 1%. The ultra wealthy are not really interested in solving your problems. They are interested in getting more rich off of pretending to fix your problems.
I paid 120k for my house 14 years ago and now it’s worth just over 400k. It’s insanity. I always thought I’d be able to sell it after 25 years for around 250k. I have no idea how my children will ever be able to afford to purchase a house. Everything is just so over inflated. Crazy times!
You think everything is messed up now just give it another month or so , the Biden administration is getting ready to declare a climate emergency so they can completely collapse the economy and try to start civil war , so as to not have next election , now that is gone be messed up ......and I kinda look forward to it
I bought a house in 1998 for $156,500. I sold it in 2005 for $301,000. Almost doubled in price in 7 years. We go through inflation waves. Have been going through them before I was even born. The 1970s gas crisis...the 1980s recession...Desert Storm invasion in the 1990s...just before the housing crisis in 2008...
It's just a cycle of squeezing the working class.
Don't ever sell your house. It may be the only thing your kids have to cling to, a safety net, with all the impending doom they're looking at.
Just think of how much worse things would be without BIDENOMICS!
@@TheRisingFury Lol, this is you being facetious, not so?
Older people have more wealth because of compound interest. Time builds wealth. Everyone should pay less taxes, but young people need lower inflation (less government spending) the most.
Minimum wage is not $9.25. it's $7.25
We knew this would happen, it started w/President Reagan. Remember trickle down
You President Reagan who saved the economy and got Jimmy Carters record inflation under control?
@@GotoHere there were defects under Regan and President Carter is terribly underrated
I have double the education and work twice as many hours as my parents, and I make less money than they did in the 80's and 90's. And they didn't have $80k of student loans to pay off. The 4 bedroom house we grew up in cost $26k in 1981. My two bedroom cost $420k, and that was cheap for where I live.
Hell, they make more than me in retirement, not even working. I can't see ever being able to afford retirement.
Nice world to live in.
Thank the democrat party for the chaos in America.
I would like to thank you for giving me a dose of stupid today.
Both parties are to blame, knucklehead 🤠
They should be angry. There's still that final step of recognizing that the people that are elected in those high tax states are put there by the voters that are now complaining about those politicians rather than changing how they vote. At least they're slowly figuring out that the solution to any problem is NEVER more government.
If you want to preserve capitalism, then you need to constrain it. Otherwise, it’s like building a pack of dogs (or even a herd of goats) only to let the beasts run wild.
Capitalism with a cap
Young people are angry that 26 billion dollars went to Israel instead of forgiving student loans/debt. 😢
Exactly! Then they cry when we ask for healthcare and childcare that we don’t have any money!
You forgot to mention $60B for Ukraine
Chronically ill/disabled, elderly, mentally unwell, and veteran Americans are sleeping on sidewalks and on riverbanks and in broken down cars ffs. Jesus, we have created an entire culture around people living in vans in order to survive our economy! It's disgusting. Now we have cops using violent force against protestors, violating their first amendment right to free speech, because they want to quell dissent against war and our tax dollars being spent to support others but not us! How long do they think we're just going to keep taking this?
This country is quickly becoming a dystopian nightmare embarrassment.
@@noigelskram2435 Apparently libs are livid about sending any money to support Israel, but are okay with sending more than twice as much to Ukraine.
And I’m pissed that my tax dollars are being used to finance the endless proxy wars in Ukraine, Israel, etc AND to bail out thoughtless bozos who incurred mountainous debt for degrees and expect someone to bail them out.
Why is nearly every member of Congress wealthy?
for 25bn you could've just built and given away enough free housing for every homeless person in america
We've been calling out cronie capitalism for DECADES... Justified capitalism works of not corrupted
How long do we let the rich stand on our throat.
As long as people continue to vote for people purely on the culture war.
@@boringstuff1542 People vote for improving their own situation without considering the cost or how it will effect others. Humans are very selfish and get what they deserve.
@@boringstuff1542 Well one side wants to decrease income tax and the other wants to bleed more money out of captial gains tax which will affect your ability to save money for retirement so they can blow all of that money too.
Given that even though taxes are at a quarter of GDP and things are still getting progressively worse I don't think more taxes is the answer.
@@goazer2 The Democrats want to decrease income tax for anyone making under 400k permanent. Republicans do not. Using the stock market as your retirement plan is silly. You are putting your trust into a CEO who is statistically more likely to be a psychopath. The stock market primarily benefits the most wealthy people in America. In 2021, the top 10% of Americans owned a record-high 89% of household stocks. Money at scale is generally more efficient up until a certain point. The people can vote out Government which is why generally democratic governments are more trustworthy then corporations. Having a democratically elected government voted in by an educated and informed populous would solve many problems today like they did with other countries around the world.
as long as we keep voting for racist progressive democrats😮
In the 1970's American corporations started moving manufacturing overseas. In the 1980's, globalism became the hot topic in US business schools. In the 1990's, the Clinton Administration enacted NAFTA which moved even more US manufacturing to Mexico and Canada. Bond measures and local property taxes touted to address specific communities are siphoned off by the politicians and placed into a general fund to be used as the politicians see fit. This disaster was caused by the politicians and the corporations.
All by design 😢
How disconnected are these idiots to think they themselves aren’t included as well
When it snows here in Kentucky, the fat, rich farts with 4x4 trucks stay home. The young people, working in fast food and retail, driving junk 2 wheel drives are fired and insulted if they can't get to work.
I’m sure they thank Mitch for the 70k plus trucks they can afford, but you better no dare need any assistance “pull yourself by the boot straps”
Look around moron, if you can’t succeed around so many stupid people thats on you🤷🏼🤔🤔🤔🍿🍿🍿🍿🍿🍿
@@miguelsanchez404 Exactly. They pulled themselves up by the bootstraps, but rode the strongest wave of prosperity in human history from th '50s through 2008.
@@philiprose7942 2008 was 1) predatory by the lending companies giving home loans knowing well the buyers could not afford it, and 2) the buyers wanted a nice new home keeping up with the Jones' uo chouse, knowing they could not afford it and bought it anyway. Unfortunately, I see it today on TV adds, we'll fix it so your score is up so you can buy a house. Did no one learn lessons here?
@@gracewright7938 No, they did not. One good trend is single people living in 24x8 buildings that only cost a few thousand. I bought a delapidated house for $18,000 and am gradually repairing it.
First Fix the super high rents. So disgusting a 400 Sq ft studio should not cost $1200.
Rent and medical costs, are the two highest expenses people face. Not everyone is sick with medical expenses, although I don't know who can get away with not having to deal with insurance costs, but EVERYONE has to have a place to live! We need national rent stabilization immediately.
Biden's administration isn't going to do it though. Not now, and not if he gets reelected. They have us over a barrel (choosing between him and Trump) and they know it. There's no incentive to stop the carnage.
Old Americans are pissed too.
Lol they act like there middle class. These two are part of the rich class. Dont let them fool you into thinking there not
I spent my last dollar yesterday just to get gas to work so i didn't have to call off. Crazy amount of stress waking up every day trying to figure out how your going eat. Sucks being poor.
All while blaming societal problems on the younger generations even though the young didn't create this system
Never thought Anna would get red pilled
$24 billion spend on homelessness, and they didn't help the problem! That's crazy!
Its economics...if you subsidise something then it will become bigger.
The more homes you give to ppl for free....the more ppl will line up and ask for homes
@@lazydaisee3997 The numbers tell a different story. You can't spend the time you need struggling for your next meal, searching for a place to sleep that is safe and warm, and taking care of any children you have while applying for what low-skill jobs you qualify for that won't pay you what you need for rent and won't hire someone who can't afford sanitation and proper work clothing. People forced to put all their energy into acquiring the means to survive don't escape homelessness nearly as often as people who have basic necessities provided to them.
GenX here, as a teen I got paid OT, and 2x for Sundays. I graduated from a top university debt free. At 30,lived alone and had a sports car. GenZ can't...
They don’t hire teens anymore and with minimum wage hikes in many places they will never hire a teen again.
@@aaronday7537 - what? Businesses hire teens all the time.
@@a_numbers_girl7025 look at the 30 -40 year charts in declines in teenage employment. It’s about 1/2 of what it was in the 90’s.
@@a_numbers_girl7025 Depends on where you live.
The largest voting block in history voted for wealth incumbency. Pulled up the ladder to success.
"The comfort of the rich depends upon an abundance of the poor"
Voltaire
When I was young I was broke
0:49 the biggest problem we face as a country is that more and more people are beginning to realize just how full of shit this government actually is. This is the single reason why trump will probably be elected president again… He is seen as the only hope for change… Sad. But true…
I’ll probably vote for Trump just because he’ll be a stick in the eye of those currently in power.
I kind of like Kennedy too, and pretty much for the same reason.
Oh, and I think we’re less likely to have more wars with Trump or Kennedy.
social security was not to exceed 3% of your income. check to see what it is now!!!
I voted for trump the first time. He REALLY screwed up doing TWO emergency privileges epidemics and we're still suffer the consequences of both. He didnt do a damn thing about immigration and wont do anything to ACTUALLY correct it. LEGAL immigrants now need to be deported and all welfare to them all, stopped. Half his family is Jewish and therefore hes going to protect wall street. Trump is a false hope for a hero that's not coming. THE PEOPLE need to demand Congress REPEAL the federal income tax AMENDMENT and the federal reserve bank act.
It's not just the young. I have a "decent" wage, but can't afford a studio apt. Even without a car payment!
Not just the young. Order people can’t retire comfortably anymore
they had the opportunity to save
Wages haven't kept up with cost of living and we're seeing the results. But at least the rich got richer and the poor got poorer. Just like republicans wanted.
This video was going well until until Chenk opened his mouth
Our kids emotions were knowingly exploited for profit by algorithms and click bait headlines meant to trigger because digital interactions equal advertising dollars and anger and fear get more digital interaction than any other emotion.
This is what happens when you keep going for the blue team.
@blueblade, and who told you this, must have been, Magat*rds, Trump, or the Holly rolling Christian liars, because what you just said is the opposite. Which group got a permanent tax cut in 2017/18 and which group got a two year tax cut, because of legislation pushed through while King Magat*Rd was office. Also it was done twice while Bush Jr was in charge. Nope this is all due to Republican financial policies and legislation, no blue hands on this one. But your stupidity won't allow you to mention this fact, along with 10 idiots who agreed with you. You can have your opinions but not your facts, if you want to talk facts I am sure we are all for that. But your opinions mean nothing, nothing at all.
Democrats certainly aren't making things better, but Republicans are threatening the well-being and financial security of the poor and middle class, the safety and acceptance of minorities, and the rule of law. I won't vote for fascists.
"well trump is a fascist" is what the normies and libs are saying even tho Trump is just a glorified 90's liberal democrat.
@@FazeParticles, I highly recommend you spend a few minutes reading the essay Ur-Fascism by Umberto Eco, a man who grew up in Italy under Mussolini. Tell me what you think, and I'd be happy to discuss this matter further.
@@birb7353 sure but first admit Trump is a glorified 90's liberal democrat before i go any further or explain why not.
I also saw a long rant by Galloway, saying America is declining because religion and the morality of religion is declining. By my observations, religion is the root cause of most wars, lies, and dissent in most countries.
If religion didn't exist I seriously believe War would never or very rarely exist. January 6 is a perfect example of what religion can do. So many people attack that capital because they truly believe Trump was sent by God. Barry Goldwater yes that one has a good quote about the GOP will fall the day hardcore Christianity takes over the party.
Yes because the American war hawks are super religious. The only groups starting wars because of overt religious beliefs are radical islamists and zionists. 99% of war is for money and that’s it
Yep. I'll say it flat out: religion was never moral to begin with.
Defense is 9% of budget. Social welfare is 70-75%. 15-20% is all the federal government needs to operate.
Anna speaks about this like she isn't in that upper tax bracket.
Well life is unaffordable even if you have a good job you can't afford a good home, got no time off, being homeless is only one payment away... Then you go to apply for a job and many companies don't want to hire you unless they can get away with underpaying and abusing you, then whine about how no one wants to work anymore...
Yet younger Americans won’t vote or get politically organized.
While every aspect of this blatant grift is infuriating, perhaps seeing the people who get dumped on the most doing nothing is even worse.
As a politically active 19 year old American, certain people have made it harder for university students like me to vote. If your only mode of transportation is walking, you can't afford additional expenses like Uber, and you're already struggling to make time for studying and internships, spending the time and money traveling several miles to vote might not be a feasible option. There are certainly young folks who choose not to vote out of apathy or hopelessness. However, most young Americans won’t vote or get politically organized not because they don't want to, but because they've been systematically oppressed to prevent them from doing so.
However those older people have worked. You have to earn that, they work their whole life for that
Times were different back then. A one income home could buy a house and afford to raise children and still have vacations. Now, it takes a minimum of 2 salaries to pay off a mortgage. Totally different economy.
@@nicolejennings8389Bidenomics at work.
This life we live in thus great country needs a reset,, Capitalism has gone wild and the Steriod.. Is GREED