I can’t imagine what the future holds for the young ones. It’s already unfolding for the older generations, with repercussions from previous years. I'm 61, and my wife and I are VERY worried about our future, as gas and food prices are rising daily. We have seen our savings dwindle with the cost of living skyrocketing, and we are finding it impossible to replenish them. We can get by, but we can't seem to get ahead.
I hear you, and it's certainly a tough period for many. It must be incredibly challenging to see your hard-earned savings slowly dwindle with the rising cost of living. It's difficult to not feel disheartened and discouraged. I definitely agree that the current events and economic situation can feel like a crooked system, especially after you've worked so hard for so long. The most important thing now is that you're not alone in this.
Many are going through the same thing and there's strength in unity and mutual support. It might be worth considering speaking to a financial adviser to help navigate this tricky time if not already doing so. They can provide tailored advice for your situation.
@@AnneLowenthal-l5f This is so thoughtful of you. Indeed hard times will always be there and to get through requires informations and action. I have had a few not so good encounters with financial advisors. Any thoughts?
She has built a reputation for creating highly personalized financial plans tailored to each investor's unique goals, risk tolerance, and financial situation. She takes the time to understand her clients' long-term objectives, whether it's saving for retirement, funding a child's education, growing wealth for future generations, or diversifying 401k and IRA.
When I was 21 I had a deadend job, high school drop out, but I worked 8 hours a day 5 days a week. My refrigerator was full, I had a 1 bedroom apartment in Seattle/First Hill for $500 a month, and all my bills were paid. This was 1998. The fact that a kid now days can graduate college, get a decent job, work 12 hours a day...and not be able to afford basic needs....disgusting.
@Bryce_Fl Holy crap, I didn't even know it was legal to have a building without AC in Florida. Like, I'm pretty sure there's state-wide building codes prohibiting it. This lifestyle should not be a reality for anyone, let alone someone living in the richest country on earth
Crazy because I dropped out halfway through my freshmen year of high school. Yet I make more than most college graduates. Have next to no debt. Drive a brand new car. Have a high credit score. It's almost as if those college grads get degrees that don't pay and don't do any research into the field before going to school for it. Want more money? Develop better skills 😒
I always challenge older people when they say "people don't want to work anymore." People dont want to waste their life working if they still can't even pay their bills.
Challenge Accepted. So, doing Nothing Is Answer ? I'm retired. But get a dozen job offers A Week. And I imagine it's because of the skills I acquired by actually working. Experience is extremely attractive in getting a decent job. And without that experience. Well. I'll be getting more emails next week, for jobs SOMEBODY Will Get Ya gotta start somewhere. That's why even Grandma is working a drive thru in your neighborhood. When someone younger, could be building some experience. ... your turn
People don't want to waste their time is right. I just had to write a 'BioSketch', on top of already having had multiple interviews, handed in a portfolio, a resume, a cover letter. In the end its the Pavlovian hoop jumping that's offensive, I'm a human being looking to keep shelter over their head and food on the table, not a dog. It's absolutely clear to me, that this whole process is more about jungle politics deeply rooted in our biology than about any actual professionalism.
Imagine telling an entire generation they have to work fulltime in order to never own a home, never own a car, never take a single paid vacation, no health insurance, zero sick days, no benefits, no OT, no paid lunch breaks, no savings, no retirement, no future, and then complaining that they dont wanna work.
@@DeenanTheKemon1 Nobody said all that. Higher population plus more automation means MORE competition for a shrinking number of jobs. That's reality. You work hard or they find someone who will. When the housing market cools off, it'll be time to buy for the people who lived frugally and saved...not the whinefluencers, doomspenders and YOLOS.
@@thequackashow619 An increase in the prime rate (which the Fed has been doing) increases the mortgage interest rates. This decreases speculation ( buying multiple properties to flip, etc.) and cools off the market. Also, the population isn't increasing at the rate it had been in past decades, and higher rental prices are a motivation to build more units.
@@3namechangezalowdevry90day7I bet everyone since 2008 has been "waiting for the housing market to cool off" it's been going up and people need places to live in the present not 20 years from now.
Don't think I've ever heard a TED crowd more uncomfortable, the clapping is skim and you can almost feel the tension. The absolute balls on this man to create a presentation like this and then give it to the very counterparty causing all the issues within it, truly incredible lmfao.
It's always uncomfortable when you're giving a presentation about why the audience is benefitting at the sake of their children. Look at all the gray hair in that crowd.
I think we are all just assuming things here. Also how are THEY CAUSING THE ISSUE?? did you not watch the video? Are senators sitting in this presentation? This is a Ted talk, not a hearing at the capitol.
@@michaelsotomayor5001 Uhh, we did watch the video. Did you read the replies? Nobody said cause. Only that policies in place right now cause one cohort to benefit over another cohort. And the cohort that is benefitting happens to be an age group represented in the audience.
"Any college that doesn't continually grow their class size faster than the growth rate of the population and that also receives over a billion dollars in endowments should lose their tax free status immediately because they're no longer involved in education but rather they're a hedge fund that also offer classes" That's a wild fukn quote. Calm rage is one of my favorite things to see.
@@danielbrown3461 dude what does the Vatican have to do with anything? They're chugging along functioning just fine. They're also one of the only organizations where young adults can actually build connections with good-minded elderly who will help them learn and grow and advance in life. It's the largest organization I can think of that is pro young people getting good jobs and getting houses so that they can FORM FAMILIES.
The school I attended used to legit brag about their low graduation/high dropout rates during orientation. As if anyone who dropped out before graduating "didn't want it badly enough" and the institution was well rid of them The school was the Art Institutes. The entire chain of schools has now been shut down after an investigation found rampant fraud happening on the campuses, and at least at the one I went to, students were HEAVILY encouraged to sign up for expensive student loans. At least one of my friends was forced to drop out before he was able to graduate because he'd apparently hit the student loan cap (there's a fucking student loan cap?), but situations like this were the ones misrepresented in the recruitment materials as "not wanting it badly enough"
Even Plato recognized inequality was a threat to democracy. He correctly noted that, if you let everyone vote, the 95-98% of people who didn't own land would vote to redistribute the land owned by the 2-5% of aristocrats who did own land. Plato's solution was to reduce inequality, that the leaders of any democratic society should be mindful of inequality. Amazingly, the US solution to inequality today is to make it so extreme, and stick so firmly to the course, that the bottom 95% are too beaten down and disempowered to even bother to participate. Then, use influence campaigns to convince them, the problem isn't that the government is transferring your wealth to the top 1%, who proceed to squander it or lock it up....convi me them that he problem is dangerous immigrants leeching public resources, the problem is black culture glorifying crime, the problem is the gay agenda, the problem is universities are too woke, the problem is "greed", the problems is that families aren't raising their kids right, etc. I've been around long enough to see the carousel of districtactions and excuses make a full rotation. These are all just excuses the powerful use to scapegoat the fact that their economic interventions (particularly lowering taxes on the rich and paying for it with defecit spending, and rolling back common sense regulations on the financial sector).... these things have _never_ once worked to increase the middle class and middle class wealth. The moment the US economy started doing this stuff, that the is the moment the middle class began to contract. Sure, it grew the economy, but only for the top 10%. I write software, my wife is an engineer, and we inherited a lot of assets from my biomer parents. We are doing great,, financially. It is absurd to give us a tax break like the 2017 code, and pay for it with two trillion in debt. We don't need a handout from taxpayers. And yet, we have a government that insists on coddling the rich....
Contraindication: If your grandchildren don't value trees because you spent too much time planting and not enough time teaching them why it was important, all your efforts won't be able to bear their fruits. 😂
And collapses when it repeatedly cuts down those trees in the process of expanding oligarchic wealth amassing infrastructures. We'll find out, soon enough, which one are we.
I don't think people realize how bad this will get. Young people have nothing to live for and young men with nothing to live for are dangerous. Resolving these economic issues is a matter of national security.
@@fatmonkey4716dude I know plenty of people with resumes full of skills, but companies and businesses are not hiring!! They have no money and resources to take on new employees. Stop blaming the victims
From a national security perspective, you are right. Economic vulnerability is the #1 driving factor that causes people to turn on their country. Full stop.
This validates every conversation i've had with older generations who bought a house for 50k and tell me " I just need to work harder" . Great Speaker.
I would say nearly 100% of those who say "I was just in the right place at the right time," are just trying to hide the fact that it's who you know and who you blow.
Boomers (my parents generation) lost the capacity to say that. They’re always saying things like “when I was your age, I did x, I bought y, and were at zero position”. They can’t simply say “well, my generation doesn’t like to have our views blocked and to have higher density residential projects, so, since we’re most of the positions, we created laws for that and destroyed the ability of your generation to buy a property”.
My boss told me recently that he’s worried about the future generation. Back in the 90s, him and his wife saved for 2 years and were able to save enough for the down payment, he said he just can’t see how that’s still possible today. It’s so sad
@@mircomuntener4643 but do you see how it’s not a drastic difference when it comes to house purchasing power though? Making $5000 a month versus $3000 a month doesn’t get you much farther, especially living in a city like San Diego. You are making it sound like my boss makes 5 times more than I do.
@@mircomuntener4643 the purpose of this comment is to emphasize buying a house today is significantly harder for young professionals than it was for previous generations, a challenge that can’t be overstated.
missed the hole point, literally saving this companies is the problem. Giving away money in form of debt that just now we are facing the consequences, it will only get worse.
@@StoryAndSong1 Cost Effective would be let these companies fail and let the market resolve itself, thats why he is saying we need disruptions. By the market i mean other people with a better working system/product/company. Im sorry for my broken english.
Saving isn't cost effective, when even high-interest bank accounts pay less than 1% interest. I saved for a Schwinn 10-speed in the 1970s, and the passbook rate was 6%. But, that doesn't mean spending is proper. It means finding better investment vehicles, such as stocks, bonds, index funds, or ETFs.
Not to mention lobbying, which is outlawed in the rest of the Western world. For 200 years, being a "politician" was just a side job for most. They actually had a primary job as a doctor, lawyer, account, etc. and only went to Washington D.C. twice a year for votes.
This isn't isolated to America. I live in Iceland, and it's virtually impossible for young people to buy even the smallest apartment, and rent prices are so ridiculously high that being dirt poor is an inevitability. The director of the central bank just shrugs and tells people to "buy less stuff". I don't care how well we come out on those graphs, young people here are screwed too.
In France it's even worse. We stopped building houses, so every home in a city is owned by an old landlord or a foreign retirement fund. But on top of this, when you work, 40 to 60% of what you makes go to social security. This social security system proposes no child care, it's mainly pensions for the retired. On average, a retiree earns more than a worker, and virtually none of the over 65 are under the poverty line. Yet, we give them a third of our wages. A retired teacher who don't work at all have a 3500 € pension while a new teacher, teaching kids for 30 h a week is paid 1800 €... And in the private sector it is even worse. Some higher execs have a 10 000 € a month retirement. ALL of it is paid by social security, so taxes on wages only, not really on capital gains, and also by public debt. We now have a debt who reached 98% of our GDP. It is not used for infrastructure work or anything useful, but in order to pay the vacations of wealthy retirees
@@jeanfonssedeporte3158 it's similar in NZ. We screwed our country over to save the old people during c*vid and in turn they who already own most of the wealth in the country got even wealthier.. their homes also doubled in value too. They suck so much money through the pension which isn't even means tested so if they are millionares or in a high paid job they still get it 🤯 they have high health care costs too and get first priority it the huge waiting lists so if you're younger with health problems well good luck buddy too bad. and they have the nerve in comments sections of various things trying to bring the issues of younger generations to bag on the younger generations, tell us how useless and lazy we are, get angry that children get free lunches at school, tell us just to work harder and just all around have no empathy or care for us while they keep sucking up all the wealth for their greedy selves. We need a viva la revolution!!!
This video summarizes everything. Not 100% convinced with a couple of solutions he suggested, but he exposed how the generational greed is killing younger generations' future.
It's sad, I'm 25 and my peers think they are just going through a "quarter life crisis " when in reality we are realizing that our futures feel so uncertain and there are limited social structures to support young adults holistic wellbeing.
Don't be fooled. That's what anticapitalist powers and anti Western powers want you to think. People like Putin or Xi are smiling and rejoicing when they see young Americans feel sad and angry about American system or Western system in general.
at this age, how am I supposed to mind my mental health if I have no idea where I’ll live in two months, if im gonna be dropped by my doctors just when I develop a new ailment, whether im going to even land a job in the field I spent thousands of dollars to study, and then also worrying about my depressed parents who can barely make it to work themselves? I no longer see a future for our generation, and im privileged
The chill from the crowd when he said "You're not finding your truth, you're finding diabetes." was intense. I don't know if he planned how poorly that one would go over, but it was pretty close to the climax for his string of accusations directed more and more toward the audience with each shot. This was actually one of the best TED talks I think I've seen.
If you compare obesity and it's health effects, it's more similar to mid century smoking and its health effects. The main causes of obesity aren't personal failings, it's lobbying from the dairy, meat, and sugar industries. I'm 35 and I very well remember how "bread and grain" was the base of the food pyramid, that wasn't a mistake either. Just like how smoking was pushed as normal or even as *healthy* for decades before the "truth" came out. And now isolate people at home with the internet, shut down hangout spots, make it unobtainable to live outside a food desert for a massive chunk of people, and you get obesity. The reason I think people are uncomfortable is that calling it out is kind of like calling out alcoholics. Like, we all know it's bad, but it's a disease at this point, with vested interests in maintaining it. If everyone could reasonably afford fresh food like we used to, if more people cooked at home instead of eating out, we'd be in a better place. But think of the millions/billions of dollars invested to make sure that doesn't happen. You can't get depressed self-harming eating-their-sadness people to just spontaneously take better care of themselves when they can't afford health care or veggies. They can't go to the gym because they have to sleep sometime between their three jobs, if they have kids its even harder. Gyms cost money, a home gym requires a stable home (and also money). It's hard to clap at that because it sounds like he's directly blaming all fat people for being fat, as if it's 100% of their own doing, or that they "want to be" obese. It always seems like older people like to pretend that people hated eating in the 60s or something insane like that. Just ask the questions of "what's different between countries like Sweden and the US in terms of food" and pursue those paths. Also all the people who got to grow up during the great depression got to raise their kids during WW2 rationing. My parents generation grew up in a very low-food environment and their bodies were changed for it. They worked hard to secure a future of plenty, where their kids would never have to go without meals or feel hunger pains. These kids are getting obese now, as the American snack companies hoped for (or more accurately, didn't care about). I just wish people read a little more about public health sociology and statistics and lobbying history of various foods. Just recently I think Nestle or something like that was trying to legally restrict GLP1 drugs because it was cutting into their profits (because it was helping people eat less/healthy). Just like for-profit prisons obviously don't make sense as an industry, for-profit obesity factories cause harm for money, and they have a lot more power than individuals do.
And he was 100% correct about it. Problem is, 40% of Americans are obese and another third are overweight. The rest of the developed world is catching up too. Every single one of them who is this way of their own apathy is repugnant and a veritable guaranteed future drain on public resources.
It doesn’t matter how poorly it went over bro. It shows he’s there for the truth, if anyone wants to brush it off. Then they’ve chosen the side. That will linger in their mind forever and he’s absolutely right about it. He’s making them choose a side
Pretty easy to do when the average immigrant is more patriotic than all US politicians put together. Republicans just want to win and are willing to support compromised and incompetent politicians to get more seats. Democrats also basically serve their donors and dont care about the average American.
Exactly, this is exactly what our politicians should be working on. . It seems very clear that the agenda is to help the one percent cheat their way into wealth one again and hoard the wealth for themselves and their children by suppressing and limiting the American people from gaining access to wealth and our resources-like education and job training. . A college education allows the 90 percent to gain access to wealth. instead of bailing the 1 percent-how about we invest those billions into small businesses, job training institutions, and also getting workers into the nursing,teaching,fields which our country desperately needs right now. . We definitely do not need social media for children under 16, these platforms have done more harm to our society and families than the drug pandemic. . These platforms only care about gaining wealth and avoiding accountability. . More than ever i wish more Americans would get involved in performing their civic duties instead of wasting their time on social media . Social media is what the rich are using to find ways to keep you distracted so they can keep you in poverty while they cheat their way into wealth and avoid accountability.. . Seriously though ,we all need to wake up America!!
I’ve always been bewildered by the “Too big to fail” bailouts, because they’re never required to then break up into more manageable sized companies. If they’re too big to fail without threatening society, then they’re too big to exist.
@@AmateurHourProdu Did I write it as a past action that you missed, or is it behavior that all citizens need to do as their duty to hold government accountable for their actions?
My parents bought their first house on taco bell wages in their early 20's, and now my wife and I in our early 30's with degrees/specialized trade training and won't be able to buy a modest home until our 40's. This man speaketh the truth. I feel like I'm screwed, but today's kids are gonna get it even worse.
I’m in my very early 20s and planning to be a doctor but honestly? I want out of this country. Once I have enough saved, I’m leaving elsewhere where they actually care about their citizens. Language barriers aren’t an issue for me because I’m down to learn any language necessary. I’ve just had enough.
@@strawberrytiramisu I'm thinking the exact same thing. Even with the toxic work culture of Japan, at least when the citizens complain about something it actually gets addressed! Japan is no heaven and has a lot of its own problems but that's where I'm thinking about going. The problem is any western countries like Australia and the UK are just as bad if not worse than the US, so they're not viable alternatives. You have to make a big culture shift to escape this garbage.
@@JohnDoeWasntTakeni'm sorry to ruin your fun, but if you think Japan is a good place to work and build wealth, you should research other better countries for that, believe me.
I'm sorry, but no one could afford a house on a Taco Bell salary, even if two people are working there, back in the 80's and 90's. If both people worked in a factory or something, they could, but not in the food service industry. Not without help, anyway. Just generating the down payment would be practically impossible.
Unfortunately, things will be almost impossible to change because the people in charge of fixing the system are the same ones that benefit from it being broken.
Thats just it. The system is working exactly as intended...for the people who made it this way. We are at a point where its no longer about fixing the system, its about replacing it with a whole new one....though maybe flushing out all of congress and holding nationwide reelections across the board and restrict any previous politicians from running might do something...need to get large donations out of politics first though.
The only thing missing from this talk is for him to remind the audience that they should not be clapping. This is not something to celebrate. This is crisis. The audience is in-part composed of the perpetrators of this crisis. Those people should listen quietly, and with shame. What his talk should provoke is anger, furious over-boiling anger, at the injustices which have been committed, at the state of utter emergency which has crept up upon us while we've been lulled to sleep. The trajectory of the entire world has been compromised to line the pockets of a few billionaires and give easy lives to one generation. In all likelihood, this cannot and will not be reversed. There has never been a period so full of brilliant young minds, yet there is no hope. There is no wonder. There is no awe. There is only greed... and hatred for the inescapable toll it will exact upon us.
You sound young and resentful buddy. Clapping in this case is used to show appreciation for the presenter. The rage you are trying to incite will not bring about change, only anarchy. Your little monologue also provided no clear course of action, just a long paragraph full of word salad stating what is obvious and already presented by the presenter in the video and on the audience's mind after it's conclusion. If the unremarkable talent he's advocating for is you i fear for our country's future if his vision for change is brought about.
"Kings made tombs more splendid than the houses of the living, and counted the old names of their descent dearer than the names of their sons. Childless lords sat in aged halls musing on heraldry, or in high, cold towers asking questions of the stars. And so the people of Gondor fell into ruin" // J.R.R Tolkien
I saw the writing on the wall at 19 and moved to Latin America. I'm a homeowner in my 30s and save 20% of my income. The US is completely stacked against youth and it's about time someone said it instead of blaming avocado toast.
7 месяцев назад+116
Immigration and both genders working are huge competitive factors for driving down wages.
I don’t know anything about anything but I believe corporations buying up real estate is making it impossible for people to afford homes. That needs to stop in my opinion
People made lotsa money on appreciation of an asset while cash in the bank is worth less, and talked about it. People bought assets knowing others will likely still demand homes (nice to have a roof and bedroom right?!) thus they likely will keep appreciating.. Truly sickening. It’s as bad as insurance companies taking advantage of inelastic demands in healthcare. How can I effectively better for a life saving drug if I’d pay anything to save my life…? It’s a market failure…..
We should severely reduce taxes on someone's first home and drastically increase it for all 3rd+ homes...and use the later to subsidize what's lost by the former. Essentially to the point where having more than 1 vacation or income home is prohibitively expensive. But then again...the people that actually VOTE, the older homeowners, will prevent that. That's why it all begins with YOUNG PEOPLE VOTING.
Many great quotable moments in this video, but loved "They're a hedge fund that is offering classes." The fact that Harvard has more liquid cash as a nonprofit than well known businesses who are on the stock exchange says it all.
There are a lot of certified tax free and functionally tax free entities and organizations that need to start coughing up and contributing to the world rather than piling their comfy chairs higher and higher.
@@SkateSoup 💯Despicable how ‘separation of church and state’ is selectively applied by the religious right to erode woman’s rights and coddle mega-church empires.
There's another thing he didn't mention. A lot of universities are investing in things that are not related to teaching and research. College sport teams, stadiums, water parks, Ski resorts... These end up giving university a good income source. Basically Universities are turning into a sports club with a teaching side hustle.
Neither will we. But as long as more and more people are getting conscious and informed about this whole clusterfuck. More chances are to start questioning the government and not voting for the same system.
Congress would rather deal with your personal issues rather than Is national financial issues. Enact Better Corprate Regulation rather than gay rights, weed, abortion...
He’s correct. 26, and there simply is no way I can ever afford a home. Rates are high, home prices are high and there is not enough inventory to help drive down prices. We have nothing to save up for, the dream of buying a home is no longer feasible. Whenever I get lectured from older folks that we just have to work harder, we are, we aren’t getting any closer to our dreams. We have to work until our legs fall off just to save every month.
He completely omitted immigration which undercuts any minimum wage laws and outsourcing everything else. You and I are most likely typing on something made by a worker making $2/hour, or wearing a shirt made by child labor.
Hey, 20 year old. I need to tell you something. If you ever get overwhelmed and depressed or lost in life, just remember....... you are the one creating your life. I know that there are different hurdles for each of us and that sometimes things can feel unfair. We don't all start off with the same circumstances so it can feel like we get the short end of the stick. There wasn't anything I really wanted to do and I didn't have internet to do research or to talk to others about what there was to do in the world. Never give up. Never do drugs to handle your feelings or your suffering. It's not the answer. By the way, what do you want to do in this world?
Imagine farmers stop working thinking the same thing we wont survive. The new generation needs some guidance and govt need to create an environment for them so they can challenge themselves and get into innovation. If this doesnt happen AI will take over. I was thinking AI take over will take time. With youth not opting to work it will be easy path for AI.
@@rickybobby7276 Lies. I survived college and got a job at 23. College was much more exhausting, although working at an office is boring and soul sucking.
The fact this video took 4 days to get 2.2 million views and the last videos on TED to break a million was 6 months ago on “how learning can be as addictive as social media” speaks to how important this topic of discussion is to people in this current time. WE NEED TO MAKE IT BETTER IF NOT FOR US SUFFERING NOW AT LEAST FOR OUR FUTURE GENERATIONS
@@bradleywhais7779 Is it doom if it's the truth? The last ~40 years is the greatest transfer of wealth to the top 1% in American history, and it just keeps progressing. Productivity and profits have drastically raised and little 95% of that value is going to retirees. It's literally unsustainable if we want the next generation to live in an America with a middle class.
i am sure it's because the invention of CRISPR, or anything similar. those who are currently in power, hoard everything and create the system for it, because they think it's time for them to become immortal
It's literally impossible for young people to live today. That's not an overstatement. It's IMPOSSIBLE. Shame on every person in power allowing this to happen.
It bothers me that people in my generation (Gen X) completely ignore the problems young people have that we never had to consider might exist as threats. I had to fend for myself at 18, yes, but I never had to worry about predatory lending, let alone predatory employment, when I was putting myself through college. Now my first cousins, all younger, are popping out babies my uncle gets to raise because they're priced out of college by just $1k. I would hate to be them because of the lack of support they receive from society. Please hang in there, but I can't tell you it's going to change soon even though statistically it probably will because I can't tell you how it's going to change.
I have been saying this for years, and i am the same age as this guy. Thank goodness he is using his platform to speak this truth. I went to a public college in the 80s. My tuition was $1000/yr, which I paid for by working jobs that paid about $5/hr. 100 hrs could cover my tution. My kids went to public college a few years ago, that public option was about $9500/yr. At that time, my kids could earn about $10-12/hr, or about 860/hr to cover tuition. Fortunately, the public investment in me has provided a very lucrative career for me and I paid my kids tuition in full. Unfortunately, I have similar analogies for starter homes, rent, car prices. I cannot help my kids with all of it. It is only getting worse.
That's part of the problem, though. Prices go up, people still find ways to pay them (parents, student debt, sale of assets, etc). It also opens up the gap wider between the rich and others, whose parents can't make those contributions or they have to saddle themselves with debt and hobble any future financial growth. The right thing to do would be just not to pay for college and go into trade jobs, and tuition would come down, but people just worry about their individual situation and create systemic problems in the process
@@leok7193If that’s your argument, why aren’t other countries having similar problems? Perhaps it’s because their economies aren’t ruled by private equity and money for social services aren’t sent overseas.
This needs to be everywhere. Made me cry, this is exactly what’s happening. I’m so tired of my parents telling me I’m so much better off then they are and squandering it. I have a degree and can’t get a job that pays a living wage. Gave up and started applying for anything. My mom who loves to tell me how difficult it was when she came as an immigrant and how she had to work as a cleaning lady until she got her job at the hotel serving. To prove a point, I applied to be a cleaning lady and the lowest entry position at her hotel and was rejected for both. Beyond more qualified then she ever was. I can’t even meet the level of an immigrant that can’t speak English now.
A lot of college degrees are worthless. Prof. Galloway had some scathing remarks on how the Education-Industrial Complex exploits naive kids, but he didn't really touch on this angle.
It is, and always been. The city of destruction. Satan is the ruler. John 10 10 The thief only comes to steal, kill and destroy. John 3 16 For God so loved the world that He gave His only begotten Son that whosoever believes in Him shall not perish but have everlasting life.
I made my boss a powerpoint at my 90 day review to show how much I had already benefited the company. Hard numbers and measured progress. Then followed it up with a slide titled: "I can't afford to work here." showing a list of local 1star studio apartment rentals that I couldn't qualify for, even working 60 hours a week for them. They gave me a raise, and I got my kid and I into a 400sqft studio with money for bus fare. But I keep thinking about how my salary's equivalent a generation ago could have gotten us at least a 2 bedroom apartment and a car, maybe even a house.
The sad part is that you shouldn't have to do anything remotely like that-essentially quantifying your existence to a company/corporation... "Huh, well, when you put it that way, I guess we can kick a few extra bucks in your direction specifically while never truly addressing the fact that people are widely not paid a sufficient wage while corporate profit increases year after year regardless of economic factors like infla-" Oh, well, I guess they wouldn't SAY that part.
I’m 23 years old, and I constantly have conversations with my peers about these issues and their solutions. That is to say, this ted talk wasn’t necessarily anything new to me because I live this reality. But I cannot begin to tell you how validating it feels to hear this summed up, and by someone from an older generation no less. We are drowning. I’m drowning. My grandmother receives 2k in social security each month while she has 1.2 million sitting in the bank (we’re estranged unfortunately). I’m working three jobs and taking night classes at the community college to hopefully move my way up. I live with housemates to afford rent. I feel like a broken machine but I’m forced to keep moving anyway. 2k a month would probably change my life.
So would your solution be to end social security? Or perhaps only pay it to those who need it and put a wealth cap on who gets it. Oh my, that would require some kind of regulation. Yeah let's just make it a free-for-all
@@nnonotnow Yes! regulation, yep. you got it. Give the money to those who need it so they can flourish. This government/ economy has been stealing from working class, poor, and young people for 4 decades. Its time to pay it back.
@@nnonotnow Increase the cap so that it's fully funded. Trying to ensure the rich don't get it might be more work than it's worth, but it's also an option.
@nnonotnow Well ignoring that wasn't at all what they said: Actually society does in fact need to discuss a fundamental problem with social security. It is built upon two assumptions, that the labor pool will always drastically dwarf the number of retirees and that wages will always rise. Neither are true today. Social Security is literally bankrupt. Without fundamental reform, it will collapse long before today's youth ever begin to recieve benefits from it. I would not blame a young person for viewing the additional tax burden of social security as unjust. The federal government being a financial nightmare is also unfair to our youth. No, the national debt cannot go up forever. Somebody has to pay for it, so our young people can quite reasonably expect a heavy tax burden throughout their lives, spent on servicing debt their ancestors accumulated, and for what!? I've already addressed social security, and similar problems abound for other entitlement programs which is the majority of the debt, and the next major sources are the 2008 and 2020 bailouts of the financial system, and financing for forever wars like Iraq and Afghanistan.... And we're telling people that were either kids or not even born yet when all these things happened that it's their bill to pay. Our youth have a lot reason to be angry, and unfortunately the bitter reality of addressing these problems, and I say this as a socialist in favor of nationalized health care: the government very well may not be able to afford grandma's social security check and we've already mortgaged more than enough of our youngs future to try and pretend that we can. Don't blame the kids, blame the corrupt greedy society run by "adults".
@@Memorax As if punishing the billionaires would fix most of these issues, yeah right. Things have to change from deep within, especially the social media epidemic. Academia is a waste of time, all they produce are Marxists who hate their own country...no wonder the US is going down the drain. Both sides in politics will print money they don't have, pushing the debt onto future generations...it will never stop.
It’s worth remembering that old people who do not own capital are in the same boat as young people who do not own capital. This isn’t a story about old people exploiting young people, what we are seeing now is just the natural progression of capitalism into its end stages. The young factory owner is just as capable, if not more capable of exploiting his/her workers than the old factory owner. Pitting young versus old is just another way to distract you from class consciousness.
The statistics that Scott shows is devastating to look at. I'm 23 years old and a few months ago I completely gave up on everything; Friends, family, hobbies, work, everything. One look at charts and second look at the people in your age group is enough to just completely give up. One of my old coworker's knew a 15 year old that took his own life and the first thing that came to my mind at the time was "I can't blame him". The hopelessness in my generation is heartbreaking, the only thing we can do is keep a positive attitude and keep pushing.
Life is all about mindset. Are you linking your value to your income and assets? You need reevaluate everything about what makes you you, and what makes you valuable. 23 is young man you can change your world.
Don’t give up buddy. There will be opportunities. For example, to avoid paying rent, my wife and I house-sitted for a few years and saved quite a bit of money. Keep in mind, we’re living through an epic asset bubble. History suggests every bubble pops. When it does, there’ll be other opportunities
Yeah I feel you there. I'm 24 and I'm so deep in college loans it's insane. I literally starved myself through college because I couldn't afford food it was terrible. Still struggling with a molecular and biotech degree too lol. College is a scaaaaaaam.
RFK jr is the only politician talking about these problems. I am a white 59 year old male and I have had to deal with a tractor trailer load of BAD LUCK
I'm 32 and newly married. I have pressure from both sets of parents to have babies but my husband and I can't even find a house in our area. Each house has 4-5 offers well over asking and even when we offer over too, we get rejected. It's easy for our elders to say do this or do that, but we're trying our hardest and still getting nowhere.
It's ridiculous in my neighborhood, a lower middle class neighborhood in South Louisiana houses used to cost between 120 to 175k now they're at 280 to 300 it's absolutely absurd. My dad planned to buy a house after he retired now he can't even afford one and is stuck renting from a crappy stingy landlord.
We’re all a product of our society. I’m 61 and anytime I hear people complain about the younger generations, it ticks me off. If I was 21, I would be just like all the other 21 year olds. I know a lot of people my age that have never had a work ethic. They just inherited great economic times through no work of their own
Thank you for saying this. This point is too often ignored... people are people across generations, there are no "special" generations... just people. Case in point - the "boomers" in my life are the most phone addicted, social media addicted people I know at this point. Yet at the same time they criticize the young people who are having to be so disciplined to succeed, all while surrounded by more distractions, garbage food, attention-robbing media, cheap thrills etc than any generation before. Nevermind all of the political, social noise. They are set up for failure, and that is what is happening.
@@nriicv1572 I couldn’t agree more. I fear for my grandkids that are growing up in the world I helped create. I do have a lot of hope for the future though. There are a lot of hard working , smart people out there of all ages that are doing their best to ensure a safe viable future. I see the biggest threat as politicians who continually want to divide us with no positive outlook and their desire to hold power
I assume you mean if you were 21 today, not 40 years ago. If so, I would agree. Twenty-six years ago, when I was 21, I behaved similarly, but it was more a mental attitude than an outward expression. Youth were still encouraged to respect elders and have some semblance of Integrity. At least in public. The ones that really acted out in rebellion were fewer and farther between. It seems youth like my young self and my peers are the minority now. 40 years ago I'm sure this was even more the case.
This is probably one of the most important videos I've ever seen. I have argued for pretty much everything he has said and this is the first time I'm finding out about this guy
That’s Scott for you. He’s brutally honest in his analysis. He always admits the system is broken regardless of whether he’s benefiting or not. It comes from a place of confidence that he can make it work even if the system wasn’t broken.
@@na3rial does it come from confidence or from understanding and candour? The ppl doing this understand. It's WHY they do it. They just don't want anyone saying it, they want everyone saying it's the lazy new generation.
Except small and medium sized businesses would be DECIMATED if the minimum wage was $20 per hour (let alone $25)... Rural America covers larger portions of land and cannot operate under laws implemented by "big city" politics.
@na3rial……Yeah, confidence in knowing how to play the corrupt system, and confidence that he’ll get to continue the benefits while so many will live in poverty. I don’t think Scott really cares if this broken system is ever fixed. Plus, he’s doing just fine in this corrupt, broken system.
I'm 38, I work full time as a network administrator, my pay isn't bad but I will never own a house nor have any kids. this presentation made me sad, but i thought it was very good
I get it... I have a wife and kids that I wouldn't trade for the world, but the reality is that we are barely scraping by. As a single person I would be doing alright but with a family... well anyway. I understand why fewer people are choosing that life for themselves.
This is a cycle for most successful empires throughout history. The empire reaches an self-detrimental level of condescendence, the wealthy class (old people in this case) party like there's no such thing as death, and the ones who have nothing (young people in this case) end up in revolution. Vive la revolution!
I think this is unironically the best Ted talk I've ever listened to. I literally graduated high school 5 years ago and I've watched mortgages more than double. "The whole point of higher education is to give the unremarkable a chance at being remarkable" I really needed that chance, but I couldn't go to college because I couldn't afford to go to any of the schools I got into, even with what scholarships they gave me.
Uhhh this is the largest interest rate and housing value hike the country has ever seen combined hands down. The fact that you are unaware about the real state of things is scary.
@@Mr___f I am aware of the current state of things, just as I was in 2008, this too I will weather. But if your solution is to complain, I can see that it is not external factors that keep you poor. Go ahead, tell me your solutions that you alone can do to remedy your situation.
We became home owners at 16 and 18 years old. We have worked ourselves to the bone for the last 10 years and we have almost nothing to show for it. We are almost at the same place we were 10 years ago dispite making more money and having some assets paid off. We just CANT get ahead even in the best of circumstances.
Seriously, consider moving to a lower cost of living area if you havent already. We moved from Los Angeles to a suburb of Pittsburgh. Cost of living went waaaaay down. My life is better making $68k here than $110k in LA.
This is happening all across the western world, not just the US. This video needs to be shared until it has over a billion views so people will know the truth.
Anybody actually capable of comprehending the lies that have been told to them have already woken up to the truth. They just dont care enough to do anything about it.
A single man used to be able to provide for a household. Now it takes two people working to not be homeless. I live in seattle and the average cost to rent a full sized house is $3600/month
This is something that is so upsetting as someone who wishes to some day form a family. How is it possible that a single wage isn't enough to sustain a family? It's insane.
I lived in Seattle till 2017. At the time, I was making a reasonable salary in a decent job, but there literally were no houses in the city that I could afford. So I ended up in Tacoma. And the house I bought there appreciated to an insane value when it was time for me to move out of state in 2021. I'm keenly aware I got fortunate but I just can't fathom how people get by in Washington anymore.
@@jojojo724there is a limit, we haven't reached it yet. The point of this video is that wealth is being concentrated in the older generations, already wealthy, and corporations.
This talk gave me so much hope. Today’s media feels so disconnected, the conversation rarely feels about what’s important anymore. I hope this talk continues this trend.
Sadly, it’s not an accident that the media (especially mainstream) is disconnected. They’re intentionally distracting us from the systems they benefit from, and continually create moral panics to get people to stand for ridiculous nonsense, instead of fighting for change
They are also just straight up lied about a lot of stuff. It's crazy when you can see the truth but ignore it because the news told you something different. I can't understand why no one is angry that they have been lied to.
My narcissistic mother telling me all my problems are because im lazy: "I was able to pay for my own studio apartment for $200/month on a part time job in the 90s." I pay $825/mo for a studio apartment. I work full time, earn more than minimum wage (everyone should be-our minimum wage is a joke), and STILL cannot afford rent at the end of the day. But yes, gen z is just too sensitive and lazy. Nothing more to look into there. 🙄
Convincing the older generation of the points from the presentation is nearly impossible as they have zero incentive when their fundamental understanding of their existence is, “I got mine, so you can get yours too. Anything else is theft.” No amount of graphs, data points, facts about how times have changed will change this fundamental, emotionally anchored mindset. They don’t care about a future they can’t exploit.
Adapt. It's more competitive now. But younger generation has more resources to succeed (internet on the cell phone alone is way more than the older Gen could even imagine).
The best baby step we can take is getting more young people to voting polls. I know voting isn’t enough, but it’s a start. Vote for the youngest people on the ballot and get the fossils out. Being a politician shouldn’t be a career, it should be a short term duty to your constituents.
"How can I increase my compensation while reducing my accountability?" Such a profound statement. It's basically running on a hamster wheel expecting the same results with half the quality or reflection to even try making basic improvements.
this is how an individual organism behaves to maximize survival and gene transfer. In a society like ours, this kind of thinking is poisonous to every other connected entity. We aren't individuals carving out a niche on our own; we're part of a much greater whole, and every opportunity we have to improve ourselves arises from that whole.
I am a public service worker and was working on a beach house. Speaking to the owner, they bought it for $55k in 1984. Nowadays that same home is worth $1.2m on Zillow. I'm 27 living at home, and everything is hopeless, but if you give up, nothing happens. Even throughout my short adulthood, these ever expnading goal posts are completely discouraging.
Jon Stewart on one of his recent episodes reminded us that the majority of American public service workers are like you, who are trying to make the system and the world livable, and genuinely a better place. However, the ones in power do not feel the same way. They might pose that they do, but they don't. Not unless you're Bernie Sanders.
55k was worth way more back then than in today's value. Also I remember in the late 80's summer day care we went to a youth museum and the van went through an older neighborhood (not quite mansions but big old Victorian type homes) the teachers (probably college age or a bit older) said they wouldn't want to live there. Now the old houses are fixed up and worth quite a bit more. So I'm wondering if that's what happened to the beach house. I hope since your living at home your saving/investing most of your money (while helping your parents out). Buy a house/move out on your timeline *not* the Jones timeline.
@@aamirhus23 Anyone who works hard for their money I support, even public service workers. Problem is the services they provide come at the expense of every taxpayer. Yes, there's greed in this capitalist system, but the government driving up massive deficits at the expense of every taxpayer is not alleviating the burden. And John Stewart can't differentiate between market value and tax assessment value. You don't pay taxes based off the amount in the bank loan.
call yourself lucky to be a public service worker. for the same wage you would have to work a lot more in the private sector. I'm also a public service worker but I came from the private sector.
My grandma told me a story about how she moved to my hometown in the early 60’s with her now husband to get a job teaching at one of the highest paying school boards in the region. They were both teachers, and had college debt, and had planned to move to my hometown to pay off that debt by working… for *two years.* they never left, but it blew me away when she said that she was able to pay off her debt in just two years of working full time. Insane.
No but think about it, they didn’t pay for cable, internet cell phones, subscriptions. If they had septic and a well (no fees ). No fast food and Starbucks coffee as .25 or less. Cooked from scratch. Didn’t buy lots of shoes, clothes and purses. People were frugal back then
@@JuliaLewis-c7g doesn't matter average teacher pay now is $20 an hour or lower, average for a teacher in 1980 was $8.50 an hour which in today's inflation is a good bit over $30 an hour for an elementary school teacher. Minimum wage in 1980 was $3.10 an hour ($11.16) now it's $7.25
@@JuliaLewis-c7g Those are the talking points of think-tanks that have been disproved again and again. Sure there was no cable or internet fees but there were other expense like phone landlines, basic kitchenware was far more expensive, etc. People have always had baseline expenses that you cannot avoid no matter how frugal you are but it is undisputed that this generation has by far the largest slice of rent/home cost and other essential expenses than any generation of the last 60-80 years (as a % of median income). No matter how people slice it this generation is getting screwed at all levels, irrespective of how much they work or save and it's only getting worse. This presentation needs to be shared everywhere.
This is the first time in my entire 25 years of life that I’ve heard someone truly breakdown the economy and the changes since the 80’s, and also introduced the concept of the top 10%… everyone always talks about the top 1%. The elite. Who even is the top 10%? Is it achievable? I don’t need to own the world, I just want to sustain my family 🤷♂️
Just working a regular job will get you nowhere. Let money work FOR you, not the other way around. Start investing early. No need to tag along the rat race just to keep up with your neighbour.
I’m a 23 year old male and growing up I always was told that I am young and these will be the best years of my life. It has been just the opposite. I have never been more stressed or miserable in my life. I work my butt off and work over 50 hours a week doing hvac in TX and still struggle to make ends meet and have begun accumulating debt. I don’t see w future for myself, my aging parents and those that are younger for me. I feel like we’ve been handed a horrible set of cards and the generations before us will tell us to figure it out just like they did. However, life is drastically different and worse now than when they were this age. The only way I can see myself being successful and enjoying my life is to either work hard labor for the rest of my life or to somehow make it big online doing what I love.
Use your tax advantaged retirement plans to DROP your tax bracket so you pay LESS. IRA, 401k or SEP IRA if you are self employed. Eliminate vice and entertainment spending until your debts are gone. Remember, it's not what you make, it's what you KEEP. Stay in the cheapest possible living situation you can find and save to buy land.
@@OriginalBongoliath No, because guess what? In the real world, options have pros and cons. You may make good money and not have college debt in a trade, but construction is cyclical (boom or bust), there's a lot of sexism against female employees, and there's high wear and tear on your body. Working to 65 may not be an option.
I have even worse news for young people..If some of this anti-labor anti-worker stuff in Project 2025 goes into effect it's going to get even worse.. That plus automation and AI is going to change the workforce in the years ahead.. Things are only going to get worse and the system is going to continue to be tilted toward the 1 percent.. They will control the system and the jobs we are complaining about now will be a dream compared to us entering the Mew Gilded Age..If you don't know that was what our system was before labor laws were established and the 1 percent want to go back to that so I don't have much hope for the future
I heard an lecture in the 1980's. I was born in 1950. The Economics Lecturer made One Big Point--My Daughters Generation (she was born in 1968) would be the LAST generation that could guarantee Their Children a better future than they had. He was right! I've watched it happen.
@@anita77771 keynesian boom-bust economics, due to governments skimming off the top of the economy until things go bad, and then taxing anything that moves to save their own political careers
“Do we love our children?” Lots of my generation grew up where the answer was No. Even the richest whitest kids in the 90s sometimes had parents that valued status, luxury and image over their child, so it wouldn’t shock me that old people value money over their own younger relatives.
That’s the point. The answer is “no”. Just look at the comments from wealthy geriatrics here who think it’s just a problem with our youth today “whining” and not wanting to “work for anything” while enjoying the fruits of those same youth’s labor and benefiting from everything offered in their own youth. They do not care. They do not love the children. They have zero societal responsibility for the future of their country and their legacy. Someday the babyboomers will be known as the generation of greed that took down America.
Excellent point. I’ll go a step further. There are parents nowadays that aren’t even rich that would rather keep up with the Jones’s lifestyle than look after their children. Do you really need granite or marble counter tops just to brag about them? Too many living beyond their means just to try and be cool. I’d rather spend that up charge on my children.
Oh I can absolutely 1000% confirm that it has gotten much worse since the 90's. I can easily provide examples living on my street. A more well-known example would be the Kardashians.
This would explain why a lot of older people's advice to us is basically to suggest that we lived in worse conditions than even they had to* in order for us to hopefully reach financial prosperity. A lot of parents from the older generation unfortunately see their children as competition. *Don't argue me on this (speaking to the boomers); someone of your cohort literally spent nearly 20 mins to show you graphs about this, so don't waste my time with your tone deaf counter-arguments.
The saddest part to me is this isn't anything new. I've met too many people of the generation prior to mine who weren't loved. And the same for the generation before theirs. Parents loving their children just plainly isn't normal.
Just turned 30... Ive realized half my life is now practically gone and within a decade I need to save for a house, family, travel while I still can all the while working 50+ hours a week to only be able to save 1-2grand... My mom made $12.65 pretty much her whole life shes now 70 and retired but she was able to buy a house/car etc and make it just fine.. The times were living in is just flat out scary. Ive come to realize i may never own a home and if i do ill be burned out to even enjoy it..
You sound so young. Your "problems" include, "I need to travel while I still can..." Did your mom, with her comparatively "easy" life travel much? Probably not, bc by your age she already had a couple of kids. And despite your grave situation, how do you manage to afford the latest iPhone? Bc everyone in your generation finds a way to. Despite your woes, I doubt you'd be willing to work for "the man" for 40 years in a cubicle with 2 weeks vacation a year like people of your mom's and my generation did. Of course not ALL of us did - just like not ALL or your generation feels trapped the way you describe. Every generation has challenges; in the past, people might be held back by being a woman or poor or black. And please don't complain that it's still that way when it's clearly not. There are always haves and have-nots - and what distinguishes them is character and effort. So which are you? Cause right now, you're just describing delayed teenage angst, rather than figuring-out how to successfully play the hand you're dealt. And folding and saying "I'm out?" Is only an option if you have an inheritance or other parental "safety net."
@@Lionforaday Everyone in my generation? My boyfriend has a $200 Google phone, as do all of his friends, who are all in their mid 20s. I am 24 and I have had my mom's hand-me-down Samsung for 3 years and will have it until it breaks. iPhones suck. I would rather upgrade a part in my PC than get a $1000+ accessory. Generalizations make you look foolish.
@@Lionforadayyea I still use my iPhone 8 I’ve had for 6 years. Even tho Apple is actively trying to sabotage it with new updates it cannot handle I still find a way. I bet you never had to deal with that. Talk what u know. You probably bought your first house for $18,000.
I just shared this with someone who I greatly respect, but who views the world and its issues through this lens of "the poor are lazy; the ultra-rich deserve their wealth." We debated this issue often, very often, over the years. And I've often used some of the fine points Galloway makes in his writing. But this video is perfect. It is a perfect distillation of these issues. I couldn't say it any better myself. But we should all still try. I have children, is the thing. And I'm very poor off. I desperately want them to not struggle like I do to this day.
It’s greed, but government greed. They have been money printing the middle class into poverty for decades so they can continue to deficit spend. Essentially, they are using new credit cards to pay the interest on old credit cards. It creates a stealth tax on the middle class through an increase in the money supply and currency debasement.
@@ceeaymoore teach them practical life skills, like growing food, get them out in nature. This idea of being rich blah blah, who cares at the end of the day. Society is sick and it is a poison on people, and that does not escape you if you’re rich.
@@Catmeat106guess you didn't understand the video very well because not once did he say it was republicans or Democrats he said old people. You know the part when he said he's an ageist because the old are stealing from the young. I think you should watch the video again and this time listen to what he is saying.
I’m 32 and still feel like I’m not an adult yet because I haven’t got to any of the stuff my parents were doing in their early 20s. By my age they had 4 kids and owned a house. I make like three times as much as their combined household income when they were the same age. I don’t make enough to support a family if my fiancé stopped working. Brutal times.
@@rickybobby7276mf missed the entire point of his comment. His income HAS doubled. But if his fiancé is unable to provide income, he’d be unable to support anyone solely on his income. Meanwhile, our grandparents’ generation could easily support a family on one SOLE income, and our parents’ generation could do it too. Now? Not really achievable for most young adults.
My boomer aunt was an elementary school teacher; she retired at 50. She just turned 70 last year and bought a 5 bedroom house on 3 acres of land…She’s single and has 2 dogs. Meanwhile my siblings and I in our 30s can barely buy a house. Driving 16 year old car that probably wont last 2 more years and Im scared shitless what we are going to do when that needs replacing. We all work full time more hours than ever; cant afford to save or do anything. Life is getting harder each passing year especially since covid.
@@VareianceBecause narcissists and sociopaths are drawn to positions of power. These types of people are incredibly traumatized and insecure to their core, so they seek power to make themselves feel worthy. The political system is the perfect place for narcissists. The problem is that these types of people lack empathy or a moral compass, so they're able to do destructive things that most people wouldn't. They will lie, cheat, manipulate, steal, and ruin the lives of anyone in their pursuit of power. Most normal people aren't drawn "power", we are instinctually a social and community-based species. Narcissists are more likely to chase power, whereas most people are just trying their best to live.
@@VareianceBecause that kind of integrity precludes you from holding office. Because you can't get people behind you to make the deals behind the doors. And passed the money under-the-table in order to win..
This is the most honest and real Ted talk I have ever seen. THANK YOU. One thing also to mention- people are forced into industries and jobs they don’t want to do just because it pays better. Not to get rich, but to survive and afford a house! And jobs they’re meant to do and have a calling for are filled by rich people who can afford to take a pay cut. It’s unbelievable and cruel, and a total disservice for humanity and global prosperity and will ultimately lead to the US’s downfall.
I have lived in the Netherlands for quite some time, it’s not life. It’s more extreme in the US. School doesn’t cost as much anywhere else in the world
Paycuts in no way can supply employees with more money. So tired of hearing this nonsense. You could take the CEO of Walmart's entire salary and split it evenly amongst all other Walmart employees and each employee would get less than $10 a YEAR extra 😒
@@jackt.3331Take. All. Every exec, board member. Refusing to increase employee wages in proportion to rising profits only helps shareholders, not workers. A full worker is a focused worker, and focused works makes you money.
@akdwulit that's because America subsidized Europe so much so Europe can live in a supposed socialist utopia. Imagine if Europe had to spend its own money on its military? Im in canada and I've spent the last 21years in a career I hate. Started my own business in this industry, only to have our current piece if socialist garbage PM bring me to near bankruptcy. Screw this socialist garbage.
Older generations have told younger ones that hard work pays off...however in the past years we've seen hard working people get laid off and replaced with machines, hard working people not being paid a just wage, etc. Now we've reached a point where younger generations are seeing that hard work won't necessarily guarantee you a job, a raise, a house, etc
Hard work today really only benefits those at the top of the ladder. We are just a number. If we work ourselves into an early grave they have a line of people waiting to do the same thing. The younger generation is seeing that they gotta put themselves first because no one else will.
My kids and their 26-28 yo friends say there’s no hope, no future. They can’t buy a house, buy a car, get married, support a family no matter how hard they work. Half are living at home. My sons student loans are 1/3 what i paid for my house - this after receiving $260k in tuition grants. My millionaire rep sent a survey about legislative priorities - all crises - but not once did she mention income inequality or taxing the billionaires, her friends and sponsors.
And all the "Must pass" bills congress does get through are just multi-billion dollar military funding packages that go to other countries. It's a terrible system.
A lot of my friends in their 20's and 30's work full-time jobs and can't even afford their own studio apartment. They literally just rent a room in an old house and basically live like college students even though they work hard. I still live in my parents basement and the saddest part is I know my situation is actually better than theirs. At least I have my own bathroom and don't have to rush constantly with people waiting outside and knocking on the door to shower ad get ready.
They've virtually set things up to be a financial camp. People are slowly breaking out of the debt paradigms, because it's not easy. The 'normal' path to anything is beset with profiteers, faik. Everything is expensive. Personally, think a lot of people are lying, ownership, or someone takes too big a piece in the chain...min wage is too low everywhere by far. It's criminal, and everyone who gets paid hourly, outside trades, has had no one to go to for decades. And often are met with accusations, de-humanization, etc. Well, you can imagine how one gets well passed over that f s4!7.
The thing I find the most incredible is how much a lot of older people despise younger people for struggling to get on their feet. Its historically difficult to buy a house right now, and you won't have trouble finding tons of older people making fun of younger people for lamenting that fact. They are convinced they are special, and that there is something wrong with younger people. An absolutely disgusting group of people.
Houses will soon be only for the ultra rich as is clearly obvious. Personal vehicles as well. It’s all the design of the future thanks to democrat socialist leadership.
I couldn't afford to buy a house on land until I was 47 and gave it to a cousin who had numerous grandchildren before I was 57 because I couldn't afford to keep it up. I had septic in for 3 homes. I only bought 1 home and had it moved to the property in 2010 because I couldn't afford the other homes.. I know my cousin took over the land mortgate and expanded the septic, she has 4 houses on that land all filled with family. This all happened before 2018. I now live in an apartment just like I did from 1980 to 2007. I have a part time minimum wage job that will end shortly after I turn 65 which is 2 years from now unless the economy improves. I don't hate anyone, and I'm in the bottom tier of the housed Americans.
I wonder how many in the audience even have kids? I mean feminism has done some work where it gives women the false path to happiness: career is more important than children.
When I graduated high school in the mid 2000s and entered the workforce while trying to pay my way through college, I received a cold, hard lesson in the great intergenerational theft. And at that time, my parents were so frustrated with me. "You moved out of the house, you work full time, why can't you afford to pay your utilities? Why do you need an extra 20 for groceries?" It was a major source of tension and anger between us. We were distant for years because of that. And then one day, in 2015, my dad realized what had happened. I don't know how he learned about it, I don't know what made him realize the truth, but in 2015, he suddenly apologized for being so hard on me and not understanding what the problem was. When I said, "My future was mortgaged away from me by older generations before I could even consider it," he understood and he agreed. This crisis is real. It's here. And if you don't understand why millennials and Gen Z are so angry and vocal these days, you need to watch this presentation again. Thank you Professor Galloway. Thank you for reminding me that I'm not crazy and that this actually happened to my generation.
The gas lighting of our generation has been so real! I grsduated hughschool, moved out and went to college those same years. Very similar experience. Im glad your dad came around
I'm a 54 y/o full time RN and single mom..I'm so concerned about the future for myself AND young adults..I send this TED talk to anyone willing to listen..we all need to WAKE up
@@rnangel69 Max out your 401k and IRA every year. Then, (assuming your debts are paid off) max out your HSA if you have one, while paying cash for your copays.
5:45 “they are a Hedge Fund offering classes”..... thank you, YES!! I work at a financial institution and we have accounts of many university endowments. You simply CAN’T BELIEVE how much wealth some of these universities have. Yes, they should lose their tax status.
They are private schools. Doesn't that inherently make them for profit? I work for an education technology company and while our work is "education" that doesn't necessarily give us tax exempt status.
Scott Galloway presented this information concisely and accurately. Ten years from now, we shall come back to watch this very same video to realize that he was right, and we still did absolutely nothing to save the future of our youth and the future of our nation.
One of the most densely insightful and productive TED Talks EVER. It’s incredibly rare to find thinkers who correctly identify systematic flaws and offer concrete, actionable remedies. Thank you Scott.
This video is a tragedy. The speaker begins by identifying some terrible trends in our society, and then proceeds to recommend solutions that would make those trends WORSE. These trends are all the result of government intervention into things that ought to be private, things like food, healthcare, and education. No, as a Millennial, I do NOT want more government regulations, I want FREEDOM. That means LESS RESTRICTIONS, and LESS INTERVENTION FROM GOVERNMENT. A corrupt society is a society with corrupt value systems, and the most fundamental system of valuation (apart from what goes on in each person's brain) is the MONEY. The boomers totally F***ed up by electing government officials that have been ENCOURAGING fraud and corruption, rather than PUNISHING it. Bitcoin or gold, take your pick. You don't fix a corrupt society by providing more power to the corrupt individuals, and you also don't fix it by stealing (corrupt behavior) from the elite and giving to the poor. No, you fix a corrupt society by fixing its system of VALUES and EVALUATIONS, and to do that you have to encourage the society to adopt a money that is, in one way or another, tethered to the laws of nature. The problems that this speaker addresses are all the result--either directly or very indirectly by a series of interdependent relationships--of FIAT CURRENCY. Man cannot produce, simply by speaking (fiat)... only God can do that (e.g. fiat lux). Fiat currency is an abomination.
Sorry to burst your bubble, but he's still surface level to the issue. For example, recommending an increase in minimum wage only increases his asset value. Still glad the destruction of younger generations for the boomer's check is being talked about though.
@@Andrew_2414 It's naive of you to think the private sectors would act for the mass. All is to increase the wealth of its share holder. Look at Canada. The banking sector is dominated by 4 big banks and their fees are outrageous. All of groceries chains are owned by 3 companies. The Canadians young generation today is way poorer than ever before. Not to say I don't understand the benefits of private sectors but there should be regulations from the government to benefit the mass.
@@mikele7982 I never said the private sector should act on behalf of the masses, I just said that government intervention should be extremely limited. It is government intervention that gives all the huge corporations an advantage over their smaller competitors. Ultimately it comes back to the money. The money is corrupted. Fix the money, fix the world.
Your kids leave college in 6 figures of debt to compete in the marketplace against kids like me who IMMIGRATE over the same age (21) with NO DEBT and the SAME DEGREE. Don’t get me wrong I’m benefiting from it as an Aussie but would infuriate me as an American kid
Completely ignores the elephant in the room like all of these psuedointellectual discussions. It all boils down to overpopulation and immigration. Wages have been flat since the 1965 Immigration Act. Without it the population of the US would only be about 250 million today. We'd still have a strong middle class, and these problems either wouldn't exist or be easily remedied thanks to a better balance between labor supply and demand, and the absence of the domestic turbulence and political disunity that has been created by adding nearly 100 million additional unnecessary people that we don't have the resources for. You can keep closing your ears and pretending that infinite population growth in a finite world is not the problem but I assure you that this will get far, far worse as the US population nearly doubles over the next 80 years. If we ever see a positive upward trend again it will be long after the system crumbles under its own weight and the ensuing massive population decline.
Don’t care for Ted talks but this was a moving exposition of everything wrong in this country, all of these issues have weighed heavy on my mind for decades I just never could articulate them like this.
This Galloway right or wrong brought to surface important realities in the USA. But he does not ever offer or demand that Americans be creative, organize, gather in assembly, nor does he demand Americans to forcibly unite to discuss with dialogue, exchange or civil engagement how to rise up against all these topics he suggested. All he did was DO this DO that. Fuckin this Fuckin that. Venting out is what he sounded like. Still, at least this TED conference rose all these matters up in the air.
@@SacredCASHcow "Capital" also includes factories, inventories, infrastructure, etc. It turns out that the immense majority of global capital stock is indeed imaginary, and that is the portion which has increased the most for decades now.
@@Tomaz-Lanza yes and everything is imaginary if you want to use that line of "reasoning". your identify and your life its all just electrical impulses. Wow what an amazing realization!
I’m GenX, my Grandmother got a college degree in economics bought her family home for 50,000 (bank repo) lived in it for 50 years in California where she sold it for 700,000
You obviously have never heard of inflation. Based on those values it should have sold for $350 000 and would have the same value. The doubling on that to $700k is from land value increases - i.e. stolen from the younger generations.
That’s what’s really ridiculous about house that sold for $100,000 ten years ago is $200,000 today. Why? It’s been lived in that should reduce the value of the home unless money was reinvested to do updates on the house, and those updates should not equal the purchase of the house at $100,000 because the foundation is older and not going to last as long as a new house. Houses should depreciate in value just like a car. Once it’s used and has gain years of aging it should be less valuable.
It's also supply-demand, more people are looking, certainly area's are more desirable and people dying later so less houses become available. I wish my dad was still alive and I live in his house now... otherwise 1 more house needed on the market.
@@angelicfurry301 Outside of renovations, the home hasn’t become more valuable. The currency it’s priced in has become less valuable. Over the last 50 years, the dollar has lost over 80% of its value. This will continue until a total collapse occurs.
Me in my 20s living with my parents after finishing university with a low paying job and debt that won’t be paid off. I feel so helpless but people like this man will always be appreciated to me. Thank you for your support ❤
Boomers would say "you didn't get a good enough degree". I know people with engineering degrees who can't move out. I know accountants who can't move out.
I'm 63, trained for a career in academia only to have practically all teaching jobs wiped out by greed (check out your university to see how much your coach makes), and have had to go into retail. A full 63% of my salary goes directly into paying for rent. Talk about a dystopia.
Damn. Very similar story here. The year I started teaching as a full time assistant professor with a PhD from a well-respected university, I was paid $40K. The new football coach was given $750K. The assistant professorship now pays a whopping $45K. At a state university.
i went to the university of alabama where the football coach who recently retired just bought a 17 million dollar house, started out in the business school where most of my profs made 6 figures, and ended up with an english degree where i was being taught at the 400-level by graduate teaching assistants. i now work in food service 4 years after graduating, and i have about 15k in student debt. i definitely relate to you haha
I'm 68, I'm a nobody/average guy, I never had any "career", never made above 35k, wife a elementary school teacher, owned our home, we raised 2 kids paid through college, helped with their 1st house down payment, and I have net worth in 7 figures. LOWER your standard of living, RAISE your saving and investing starting with a tiny amount of your paycheck. It takes years and years of sustained effort, but it beats the whining I'm reading here. Nobody cares what your neighbor or coworker makes. It's none of your business.
In 2009 I bought my house for $100K, 20% down, got a $80K mortgage, Obama gave me $8K for first time home owners. My mortgage payment $900 on a 30 year fixed mortgage. Fast forward to today (15 years later), my house is fully paid, I paid it off in 15 instead of 30 years, it is now worth $400,000 and if I put it for sale I am 100% sure it will sell within a week most likely over asking price. My neighbor put their for sale at $360,000 and they sold it in 5 days at $380,000 I asked my coworkers how much they pay in rent, almost every single one of them paid over $2,500 per month in rent. For something that will NEVER be theirs. It is truly sad what’s going on here.
@@kenyonbissett3512 True, I did do sacrifices to save up the $20,000 (20%) but nowadays for someone to come up with 20% of a medium home they’ll have to save like $80,000 the prices went incredibly high and wages haven’t really gone that much higher.
I’m not even 30 yet. I’m tired. Extremely tired of stretching every single paycheck and struggling every day. I’ve worked 60+ hours a week for many years and I’m not doing it anymore. It’s gotten me nothing but more stress.
You still got a long way to go. They took my money to pay for every bleeding heart instead of keeping it for my retirement. Instead of thank you we get hated. I will never see all the money I paid in or the benefits thereof. Cry me a river
I can’t imagine what the future holds for the young ones. It’s already unfolding for the older generations, with repercussions from previous years. I'm 61, and my wife and I are VERY worried about our future, as gas and food prices are rising daily. We have seen our savings dwindle with the cost of living skyrocketing, and we are finding it impossible to replenish them. We can get by, but we can't seem to get ahead.
I hear you, and it's certainly a tough period for many. It must be incredibly challenging to see your hard-earned savings slowly dwindle with the rising cost of living. It's difficult to not feel disheartened and discouraged. I definitely agree that the current events and economic situation can feel like a crooked system, especially after you've worked so hard for so long. The most important thing now is that you're not alone in this.
Many are going through the same thing and there's strength in unity and mutual support. It might be worth considering speaking to a financial adviser to help navigate this tricky time if not already doing so. They can provide tailored advice for your situation.
@@AnneLowenthal-l5f This is so thoughtful of you. Indeed hard times will always be there and to get through requires informations and action. I have had a few not so good encounters with financial advisors. Any thoughts?
@@ChailleMoznett I have worked with a few financial advisors before now, but I ultimately settled with Sophie Kathryn Jones.
She has built a reputation for creating highly personalized financial plans tailored to each investor's unique goals, risk tolerance, and financial situation.
She takes the time to understand her clients' long-term objectives, whether it's saving for retirement, funding a child's education, growing wealth for future generations, or diversifying 401k and IRA.
When I was 21 I had a deadend job, high school drop out, but I worked 8 hours a day 5 days a week. My refrigerator was full, I had a 1 bedroom apartment in Seattle/First Hill for $500 a month, and all my bills were paid. This was 1998.
The fact that a kid now days can graduate college, get a decent job, work 12 hours a day...and not be able to afford basic needs....disgusting.
@Bryce_Fl Holy crap, I didn't even know it was legal to have a building without AC in Florida. Like, I'm pretty sure there's state-wide building codes prohibiting it. This lifestyle should not be a reality for anyone, let alone someone living in the richest country on earth
100%
You should be able to afford your own 1 bedroom if you work 40 hours per week. This is a pipe dream nowadays.
Crazy because I dropped out halfway through my freshmen year of high school. Yet I make more than most college graduates. Have next to no debt. Drive a brand new car. Have a high credit score.
It's almost as if those college grads get degrees that don't pay and don't do any research into the field before going to school for it. Want more money? Develop better skills 😒
@@diversefloater8768my husband works 60 hours per week and we can’t even afford a one bedroom in Southern California
I always challenge older people when they say "people don't want to work anymore." People dont want to waste their life working if they still can't even pay their bills.
Jesus that's very true
Challenge Accepted.
So, doing Nothing Is Answer ?
I'm retired. But get a dozen job offers A Week. And I imagine it's because of the skills I acquired by actually working. Experience is extremely attractive in getting a decent job.
And without that experience. Well. I'll be getting more emails next week, for jobs SOMEBODY Will Get
Ya gotta start somewhere.
That's why even Grandma is working a drive thru in your neighborhood. When someone younger, could be building some experience.
... your turn
@@My-Pal-Halthey to dum
People don't want to waste their time is right. I just had to write a 'BioSketch', on top of already having had multiple interviews, handed in a portfolio, a resume, a cover letter. In the end its the Pavlovian hoop jumping that's offensive, I'm a human being looking to keep shelter over their head and food on the table, not a dog. It's absolutely clear to me, that this whole process is more about jungle politics deeply rooted in our biology than about any actual professionalism.
@@My-Pal-Hal
Impossible with COL now. How is this so hard to understand?
We are entering into a feudal system at this point.
Imagine telling an entire generation they have to work fulltime in order to never own a home, never own a car, never take a single paid vacation, no health insurance, zero sick days, no benefits, no OT, no paid lunch breaks, no savings, no retirement, no future, and then complaining that they dont wanna work.
@@DeenanTheKemon1 Nobody said all that. Higher population plus more automation means MORE competition for a shrinking number of jobs. That's reality. You work hard or they find someone who will.
When the housing market cools off, it'll be time to buy for the people who lived frugally and saved...not the whinefluencers, doomspenders and YOLOS.
Whwt are you gonna do about it type paragraphs on the internet. Im
@3namechangezalowdevry90day7 The housing market won't cool off when demand out paces supply, look at Australia or any western world.
@@thequackashow619 An increase in the prime rate (which the Fed has been doing) increases the mortgage interest rates. This decreases speculation ( buying multiple properties to flip, etc.) and cools off the market. Also, the population isn't increasing at the rate it had been in past decades, and higher rental prices are a motivation to build more units.
@@3namechangezalowdevry90day7I bet everyone since 2008 has been "waiting for the housing market to cool off" it's been going up and people need places to live in the present not 20 years from now.
Don't think I've ever heard a TED crowd more uncomfortable, the clapping is skim and you can almost feel the tension. The absolute balls on this man to create a presentation like this and then give it to the very counterparty causing all the issues within it, truly incredible lmfao.
Well he presented in Canada, I can't imagine how awkward this would be if it were done in the US.
Perhaps there was tension. But there was also an entire crowd standing ovation at the end.
It's always uncomfortable when you're giving a presentation about why the audience is benefitting at the sake of their children. Look at all the gray hair in that crowd.
I think we are all just assuming things here. Also how are THEY CAUSING THE ISSUE?? did you not watch the video? Are senators sitting in this presentation?
This is a Ted talk, not a hearing at the capitol.
@@michaelsotomayor5001 Uhh, we did watch the video. Did you read the replies? Nobody said cause. Only that policies in place right now cause one cohort to benefit over another cohort. And the cohort that is benefitting happens to be an age group represented in the audience.
"Any college that doesn't continually grow their class size faster than the growth rate of the population and that also receives over a billion dollars in endowments should lose their tax free status immediately because they're no longer involved in education but rather they're a hedge fund that also offer classes"
That's a wild fukn quote. Calm rage is one of my favorite things to see.
Don't forget the corrupt Vatican.
@@danielbrown3461 dude what does the Vatican have to do with anything? They're chugging along functioning just fine. They're also one of the only organizations where young adults can actually build connections with good-minded elderly who will help them learn and grow and advance in life. It's the largest organization I can think of that is pro young people getting good jobs and getting houses so that they can FORM FAMILIES.
Verbal click bait.
The school I attended used to legit brag about their low graduation/high dropout rates during orientation. As if anyone who dropped out before graduating "didn't want it badly enough" and the institution was well rid of them
The school was the Art Institutes. The entire chain of schools has now been shut down after an investigation found rampant fraud happening on the campuses, and at least at the one I went to, students were HEAVILY encouraged to sign up for expensive student loans. At least one of my friends was forced to drop out before he was able to graduate because he'd apparently hit the student loan cap (there's a fucking student loan cap?), but situations like this were the ones misrepresented in the recruitment materials as "not wanting it badly enough"
Calm rage is my coffee.
“A society grows great when old men plant trees in whose shade they shall never sit.” - Greek Proverb
"We must believe like the seed that change is possible.
The seed never sees the flower."
Shane Koyczan
@@MrZoomahforget the seed they are trying to take the soil and make it unplantable
Even Plato recognized inequality was a threat to democracy. He correctly noted that, if you let everyone vote, the 95-98% of people who didn't own land would vote to redistribute the land owned by the 2-5% of aristocrats who did own land. Plato's solution was to reduce inequality, that the leaders of any democratic society should be mindful of inequality.
Amazingly, the US solution to inequality today is to make it so extreme, and stick so firmly to the course, that the bottom 95% are too beaten down and disempowered to even bother to participate.
Then, use influence campaigns to convince them, the problem isn't that the government is transferring your wealth to the top 1%, who proceed to squander it or lock it up....convi me them that he problem is dangerous immigrants leeching public resources, the problem is black culture glorifying crime, the problem is the gay agenda, the problem is universities are too woke, the problem is "greed", the problems is that families aren't raising their kids right, etc.
I've been around long enough to see the carousel of districtactions and excuses make a full rotation. These are all just excuses the powerful use to scapegoat the fact that their economic interventions (particularly lowering taxes on the rich and paying for it with defecit spending, and rolling back common sense regulations on the financial sector).... these things have _never_ once worked to increase the middle class and middle class wealth. The moment the US economy started doing this stuff, that the is the moment the middle class began to contract. Sure, it grew the economy, but only for the top 10%.
I write software, my wife is an engineer, and we inherited a lot of assets from my biomer parents. We are doing great,, financially. It is absurd to give us a tax break like the 2017 code, and pay for it with two trillion in debt. We don't need a handout from taxpayers. And yet, we have a government that insists on coddling the rich....
Contraindication: If your grandchildren don't value trees because you spent too much time planting and not enough time teaching them why it was important, all your efforts won't be able to bear their fruits. 😂
And collapses when it repeatedly cuts down those trees in the process of expanding oligarchic wealth amassing infrastructures. We'll find out, soon enough, which one are we.
I'm halfway around the Earth and I can still related to this TED talk. This is not an US-only problem, it is a worldwide problem.
I don't think people realize how bad this will get. Young people have nothing to live for and young men with nothing to live for are dangerous. Resolving these economic issues is a matter of national security.
I agree, kids need to stop complaining and gain skills that make them money.
@@fatmonkey4716 ok
Thats not the point. Things will burn because society failed. @fatmonkey4716
@@fatmonkey4716dude I know plenty of people with resumes full of skills, but companies and businesses are not hiring!! They have no money and resources to take on new employees. Stop blaming the victims
From a national security perspective, you are right. Economic vulnerability is the #1 driving factor that causes people to turn on their country. Full stop.
This validates every conversation i've had with older generations who bought a house for 50k and tell me " I just need to work harder" . Great Speaker.
The more you listen to Galloway, the more you will realize his advice to young people is , "Bury your head, and work harder..."
Yeah having a victim mentality ain't gonna git you no whare bro
Hopefully, you listened to the whole speech and not just focused on your personal points.
@@76ersALLDAYHaving the goal post moved every time you try to get ahead is also never gonna get you anywhere. So your point?
@@76ersALLDAY You can still work hard with a victim mentality, but it's no guarantee that you'll succeed.
The humility of a successful person to say "I was just in the right place at the right time" is totally unprecedented
@@amazinggrapes3045 damn
Bo Burnham said something to this effect while on a talk show
I would say nearly 100% of those who say "I was just in the right place at the right time," are just trying to hide the fact that it's who you know and who you blow.
Boomers (my parents generation) lost the capacity to say that. They’re always saying things like “when I was your age, I did x, I bought y, and were at zero position”. They can’t simply say “well, my generation doesn’t like to have our views blocked and to have higher density residential projects, so, since we’re most of the positions, we created laws for that and destroyed the ability of your generation to buy a property”.
@@jacksquat4140or you know, they are both true things? Don’t be a simpleton. Of course you need people to give you a hand up in life.
My boss told me recently that he’s worried about the future generation. Back in the 90s, him and his wife saved for 2 years and were able to save enough for the down payment, he said he just can’t see how that’s still possible today. It’s so sad
Ask your boss how his bank accounts look compared to those under him.
How many of his staff do you have to combine before you hit parity?
@ oh he’s just a supervisor, he makes $2,000 more than me every month, so it’s not the kind of situation that you are assuming
@Dreamsaftertomorrow that's a LOT more. That's the entire wage or more of almost fifty million Americans.
@@mircomuntener4643 but do you see how it’s not a drastic difference when it comes to house purchasing power though? Making $5000 a month versus $3000 a month doesn’t get you much farther, especially living in a city like San Diego. You are making it sound like my boss makes 5 times more than I do.
@@mircomuntener4643 the purpose of this comment is to emphasize buying a house today is significantly harder for young professionals than it was for previous generations, a challenge that can’t be overstated.
“We will go down in history as the first society that wouldn’t save itself because it wasn’t cost effective.” -Kurt Vonnegut
Good quote but technically every society goes down for this reason. The “cost” in this case is money but could be any form of exchange
missed the hole point, literally saving this companies is the problem. Giving away money in form of debt that just now we are facing the consequences, it will only get worse.
@@pedrofornell4915 I’m sorry, I read this five times and I still can’t understand it. Please rewrite it, I’m curious what you have to say.
@@StoryAndSong1 Cost Effective would be let these companies fail and let the market resolve itself, thats why he is saying we need disruptions. By the market i mean other people with a better working system/product/company. Im sorry for my broken english.
Saving isn't cost effective, when even high-interest bank accounts pay less than 1% interest. I saved for a Schwinn 10-speed in the 1970s, and the passbook rate was 6%.
But, that doesn't mean spending is proper. It means finding better investment vehicles, such as stocks, bonds, index funds, or ETFs.
He forgot the most important policy change: campaign finance reform. Nothing will change as long as our lawmakers can be legally bribed.
Not to mention lobbying, which is outlawed in the rest of the Western world. For 200 years, being a "politician" was just a side job for most. They actually had a primary job as a doctor, lawyer, account, etc. and only went to Washington D.C. twice a year for votes.
Campaign finance reform + voting reform (e.g. ranked choice). That's the one two punch we need.
@@GengoSenmonwait. Lobbying is legal in the US?
They'll just switch to illegal bribing.
@@ora2j251 very much so - it's become basically the foundation of our current political system honestly
This isn't isolated to America. I live in Iceland, and it's virtually impossible for young people to buy even the smallest apartment, and rent prices are so ridiculously high that being dirt poor is an inevitability. The director of the central bank just shrugs and tells people to "buy less stuff". I don't care how well we come out on those graphs, young people here are screwed too.
Buy less 'stuff' that keeps shops open and people employed so they become even more reliant on the government.
In France it's even worse. We stopped building houses, so every home in a city is owned by an old landlord or a foreign retirement fund.
But on top of this, when you work, 40 to 60% of what you makes go to social security. This social security system proposes no child care, it's mainly pensions for the retired. On average, a retiree earns more than a worker, and virtually none of the over 65 are under the poverty line. Yet, we give them a third of our wages. A retired teacher who don't work at all have a 3500 € pension while a new teacher, teaching kids for 30 h a week is paid 1800 €...
And in the private sector it is even worse. Some higher execs have a 10 000 € a month retirement. ALL of it is paid by social security, so taxes on wages only, not really on capital gains, and also by public debt. We now have a debt who reached 98% of our GDP. It is not used for infrastructure work or anything useful, but in order to pay the vacations of wealthy retirees
Yep. Europe is just lite version of this! I don’t see a chance for me to have as good life as my father.
@@jeanfonssedeporte3158 it's similar in NZ. We screwed our country over to save the old people during c*vid and in turn they who already own most of the wealth in the country got even wealthier.. their homes also doubled in value too. They suck so much money through the pension which isn't even means tested so if they are millionares or in a high paid job they still get it 🤯 they have high health care costs too and get first priority it the huge waiting lists so if you're younger with health problems well good luck buddy too bad. and they have the nerve in comments sections of various things trying to bring the issues of younger generations to bag on the younger generations, tell us how useless and lazy we are, get angry that children get free lunches at school, tell us just to work harder and just all around have no empathy or care for us while they keep sucking up all the wealth for their greedy selves. We need a viva la revolution!!!
Oh and their companies have record profits while over working their staff
This video summarizes everything. Not 100% convinced with a couple of solutions he suggested, but he exposed how the generational greed is killing younger generations' future.
Maybe we can get India to occupy canada and australia so they create a pro housing policy, and give an alternative to western countries.
It's sad, I'm 25 and my peers think they are just going through a "quarter life crisis " when in reality we are realizing that our futures feel so uncertain and there are limited social structures to support young adults holistic wellbeing.
Don't be fooled. That's what anticapitalist powers and anti Western powers want you to think. People like Putin or Xi are smiling and rejoicing when they see young Americans feel sad and angry about American system or Western system in general.
True, only reason I haven’t seriously pursued a career is because I’m like…wtf is the point? It’s all coming down anyways.
at this age, how am I supposed to mind my mental health if I have no idea where I’ll live in two months, if im gonna be dropped by my doctors just when I develop a new ailment, whether im going to even land a job in the field I spent thousands of dollars to study, and then also worrying about my depressed parents who can barely make it to work themselves? I no longer see a future for our generation, and im privileged
The race against the 🌞!!! It’s over!
So they are
The chill from the crowd when he said "You're not finding your truth, you're finding diabetes." was intense. I don't know if he planned how poorly that one would go over, but it was pretty close to the climax for his string of accusations directed more and more toward the audience with each shot. This was actually one of the best TED talks I think I've seen.
It's all ties to the same delusion of "speaking your truth".
Yep it’s amazing when you’ve a captive audience and tell them things they maybe don’t want to hear.
If you compare obesity and it's health effects, it's more similar to mid century smoking and its health effects. The main causes of obesity aren't personal failings, it's lobbying from the dairy, meat, and sugar industries. I'm 35 and I very well remember how "bread and grain" was the base of the food pyramid, that wasn't a mistake either. Just like how smoking was pushed as normal or even as *healthy* for decades before the "truth" came out. And now isolate people at home with the internet, shut down hangout spots, make it unobtainable to live outside a food desert for a massive chunk of people, and you get obesity.
The reason I think people are uncomfortable is that calling it out is kind of like calling out alcoholics. Like, we all know it's bad, but it's a disease at this point, with vested interests in maintaining it. If everyone could reasonably afford fresh food like we used to, if more people cooked at home instead of eating out, we'd be in a better place. But think of the millions/billions of dollars invested to make sure that doesn't happen. You can't get depressed self-harming eating-their-sadness people to just spontaneously take better care of themselves when they can't afford health care or veggies. They can't go to the gym because they have to sleep sometime between their three jobs, if they have kids its even harder. Gyms cost money, a home gym requires a stable home (and also money).
It's hard to clap at that because it sounds like he's directly blaming all fat people for being fat, as if it's 100% of their own doing, or that they "want to be" obese.
It always seems like older people like to pretend that people hated eating in the 60s or something insane like that. Just ask the questions of "what's different between countries like Sweden and the US in terms of food" and pursue those paths. Also all the people who got to grow up during the great depression got to raise their kids during WW2 rationing. My parents generation grew up in a very low-food environment and their bodies were changed for it. They worked hard to secure a future of plenty, where their kids would never have to go without meals or feel hunger pains.
These kids are getting obese now, as the American snack companies hoped for (or more accurately, didn't care about). I just wish people read a little more about public health sociology and statistics and lobbying history of various foods. Just recently I think Nestle or something like that was trying to legally restrict GLP1 drugs because it was cutting into their profits (because it was helping people eat less/healthy). Just like for-profit prisons obviously don't make sense as an industry, for-profit obesity factories cause harm for money, and they have a lot more power than individuals do.
And he was 100% correct about it. Problem is, 40% of Americans are obese and another third are overweight. The rest of the developed world is catching up too. Every single one of them who is this way of their own apathy is repugnant and a veritable guaranteed future drain on public resources.
It doesn’t matter how poorly it went over bro. It shows he’s there for the truth, if anyone wants to brush it off. Then they’ve chosen the side. That will linger in their mind forever and he’s absolutely right about it. He’s making them choose a side
Scott displayed more genuine patriotism in this video than any politician has in the last 30 years.
Pretty easy to do when the average immigrant is more patriotic than all US politicians put together. Republicans just want to win and are willing to support compromised and incompetent politicians to get more seats. Democrats also basically serve their donors and dont care about the average American.
In your mind and the phony comment ratings of RUclips. I think he’s a fake and is part of the problem. I’m over charlatans .
...and that's why I never have or will ever vote for any politician.
Besides Trump, of course, but he was quite refreshing!
Exactly, this is exactly what our politicians should be working on.
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It seems very clear that the agenda is to help the one percent cheat their way into wealth one again and hoard the wealth for themselves and their children by suppressing and limiting the American people from gaining access to wealth and our resources-like education and job training.
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A college education allows the 90 percent to gain access to wealth. instead of bailing the 1 percent-how about we invest those billions into small businesses, job training institutions, and also getting workers into the nursing,teaching,fields which our country desperately needs right now.
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We definitely do not need social media for children under 16, these platforms have done more harm to our society and families than the drug pandemic.
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These platforms only care about gaining wealth and avoiding accountability.
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More than ever i wish more Americans would get involved in performing their civic duties instead of wasting their time on social media .
Social media is what the rich are using to find ways to keep you distracted so they can keep you in poverty while they cheat their way into wealth and avoid accountability..
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Seriously though ,we all need to wake up America!!
Social media was the worst thing that happened to my generation, period.
I agree. The negatives outweigh the positives.
Not if you don't want to collect the dead bodies of old homeless people once a day in your neighborhood.
No lol
Worse things have happened. Social media is the drug after the disease
The corporatization of the internet is at fault
I think global capitalism was the worst thing that happened to my generation
I’ve always been bewildered by the “Too big to fail” bailouts, because they’re never required to then break up into more manageable sized companies. If they’re too big to fail without threatening society, then they’re too big to exist.
Vote better, and as often as you can.
@@fatmonkey4716sorry bro i was 8 back then my b
The next time the "too big to fail" banks fail, they'll be too big to save.
Amen to that.
@@AmateurHourProdu Did I write it as a past action that you missed, or is it behavior that all citizens need to do as their duty to hold government accountable for their actions?
My parents bought their first house on taco bell wages in their early 20's, and now my wife and I in our early 30's with degrees/specialized trade training and won't be able to buy a modest home until our 40's. This man speaketh the truth. I feel like I'm screwed, but today's kids are gonna get it even worse.
I’m in my very early 20s and planning to be a doctor but honestly? I want out of this country. Once I have enough saved, I’m leaving elsewhere where they actually care about their citizens. Language barriers aren’t an issue for me because I’m down to learn any language necessary. I’ve just had enough.
@@strawberrytiramisu I'm thinking the exact same thing. Even with the toxic work culture of Japan, at least when the citizens complain about something it actually gets addressed! Japan is no heaven and has a lot of its own problems but that's where I'm thinking about going. The problem is any western countries like Australia and the UK are just as bad if not worse than the US, so they're not viable alternatives. You have to make a big culture shift to escape this garbage.
@@JohnDoeWasntTakeni'm sorry to ruin your fun, but if you think Japan is a good place to work and build wealth, you should research other better countries for that, believe me.
@@strawberrytiramisu Bro I'm 16 and thinking the exact same thing.
I'm sorry, but no one could afford a house on a Taco Bell salary, even if two people are working there, back in the 80's and 90's. If both people worked in a factory or something, they could, but not in the food service industry. Not without help, anyway. Just generating the down payment would be practically impossible.
Unfortunately, things will be almost impossible to change because the people in charge of fixing the system are the same ones that benefit from it being broken.
Best comment
Lame, things don’t change because people have just enough and are unmotivated and unwilling to push for change.
Thats just it. The system is working exactly as intended...for the people who made it this way.
We are at a point where its no longer about fixing the system, its about replacing it with a whole new one....though maybe flushing out all of congress and holding nationwide reelections across the board and restrict any previous politicians from running might do something...need to get large donations out of politics first though.
Of course "the people in charge" won't fix anything. YOU NEED TO GET IN CHARGE. Get involved in government.
Spot on!!!
The only thing missing from this talk is for him to remind the audience that they should not be clapping. This is not something to celebrate. This is crisis. The audience is in-part composed of the perpetrators of this crisis. Those people should listen quietly, and with shame. What his talk should provoke is anger, furious over-boiling anger, at the injustices which have been committed, at the state of utter emergency which has crept up upon us while we've been lulled to sleep. The trajectory of the entire world has been compromised to line the pockets of a few billionaires and give easy lives to one generation. In all likelihood, this cannot and will not be reversed. There has never been a period so full of brilliant young minds, yet there is no hope. There is no wonder. There is no awe. There is only greed... and hatred for the inescapable toll it will exact upon us.
We have devolved back to the age of robber barons.
Invest in third places. This.
You sound young and resentful buddy. Clapping in this case is used to show appreciation for the presenter. The rage you are trying to incite will not bring about change, only anarchy. Your little monologue also provided no clear course of action, just a long paragraph full of word salad stating what is obvious and already presented by the presenter in the video and on the audience's mind after it's conclusion. If the unremarkable talent he's advocating for is you i fear for our country's future if his vision for change is brought about.
Perhaps you misunderstood the crowd. The claps are not celebrating, they are agreeing or supporting.
So booing would be the right response?
"Kings made tombs more splendid than the houses of the living, and counted the old names of their descent dearer than the names of their sons. Childless lords sat in aged halls musing on heraldry, or in high, cold towers asking questions of the stars. And so the people of Gondor fell into ruin" // J.R.R Tolkien
deep
@@leftofyabahelm's deep*
Damn that’s deep.
@@TMKnightlmao. That’s great. I genuinely laughed at this
Amazing quote. Thank you.
“When did we decide, that the money that capital earns is more noble than the money that sweat earns ??” That’s huge!
Milton Friedman taught generations of economists that employees were liabilities and shareholders were assets. Voila.
The rich stay rich
Is pretty stupid - but to each his own.
@@botamaster1236 Why is it pretty stupid?
The rich sold the "american dream" very well. So the people itself had let them put a ball and a chain. Period.
I saw the writing on the wall at 19 and moved to Latin America. I'm a homeowner in my 30s and save 20% of my income. The US is completely stacked against youth and it's about time someone said it instead of blaming avocado toast.
Immigration and both genders working are huge competitive factors for driving down wages.
Nope not anywhere near the main problem. Rewatch the presentation and do more research
and Latin America is a more humane and civilized place, for the betterment of their people? tell us how.
@@somethinggood-sy1ed I watched it. His interpretation is based on what he wants to sell. It helps to reinforce your victims beliefs.
did you move to chile by chance. I have been eyeing a move there as well...I think you had the right idea
I don’t know anything about anything but I believe corporations buying up real estate is making it impossible for people to afford homes. That needs to stop in my opinion
Biggest mistake was when essential homes became a means of investment. Homes were never created to be a big source of investment.
Supposed to be a place for shelter and refuge.
Homes should have never become investment
People made lotsa money on appreciation of an asset while cash in the bank is worth less, and talked about it.
People bought assets knowing others will likely still demand homes (nice to have a roof and bedroom right?!) thus they likely will keep appreciating..
Truly sickening. It’s as bad as insurance companies taking advantage of inelastic demands in healthcare. How can I effectively better for a life saving drug if I’d pay anything to save my life…? It’s a market failure…..
We should severely reduce taxes on someone's first home and drastically increase it for all 3rd+ homes...and use the later to subsidize what's lost by the former. Essentially to the point where having more than 1 vacation or income home is prohibitively expensive.
But then again...the people that actually VOTE, the older homeowners, will prevent that. That's why it all begins with YOUNG PEOPLE VOTING.
Private equity is buying up real estate and Healthcare practices. They are sucking us dry with high rent and huge medical fees.
Many great quotable moments in this video, but loved "They're a hedge fund that is offering classes." The fact that Harvard has more liquid cash as a nonprofit than well known businesses who are on the stock exchange says it all.
Agreed. That was very well said.
There are a lot of certified tax free and functionally tax free entities and organizations that need to start coughing up and contributing to the world rather than piling their comfy chairs higher and higher.
non-profit just means the profits are put into savings. That's all.
@@SkateSoup 💯Despicable how ‘separation of church and state’ is selectively applied by the religious right to erode woman’s rights and coddle mega-church empires.
There's another thing he didn't mention. A lot of universities are investing in things that are not related to teaching and research. College sport teams, stadiums, water parks, Ski resorts... These end up giving university a good income source. Basically Universities are turning into a sports club with a teaching side hustle.
I love all the applause from people who will do nothing to fix things.
it's just an entertaining show, now change the channel marge /watch?v=yE6lW8TazZM
Neither will we.
But as long as more and more people are getting conscious and informed about this whole clusterfuck. More chances are to start questioning the government and not voting for the same system.
FACTS.
Made them feel good about themselves tho and that what really matters to them
Congress would rather deal with your personal issues rather than Is national financial issues. Enact Better Corprate Regulation rather than gay rights, weed, abortion...
He’s correct. 26, and there simply is no way I can ever afford a home. Rates are high, home prices are high and there is not enough inventory to help drive down prices. We have nothing to save up for, the dream of buying a home is no longer feasible.
Whenever I get lectured from older folks that we just have to work harder, we are, we aren’t getting any closer to our dreams. We have to work until our legs fall off just to save every month.
If this doesn’t blow up,… I can’t believe someone’s finally compiled it in a concise presentation and actually SAID IT
His message has been applicable since 08 tbh. Things were never the same after the 08 financial crises.
It will. It’s a conversation that’s been danced around a lot for some reason.
Watch, it’ll get pulled within a week.
I posted it to Facebook and I think it was shadow banned ... probably because he called out Mark
He completely omitted immigration which undercuts any minimum wage laws and outsourcing everything else. You and I are most likely typing on something made by a worker making $2/hour, or wearing a shirt made by child labor.
As a 20 year old full time college student, working 30hrs a week. I almost wanted to cry at this. Finally a person who actually understands!!!
Hey, 20 year old. I need to tell you something.
If you ever get overwhelmed and depressed or lost in life, just remember....... you are the one creating your life.
I know that there are different hurdles for each of us and that sometimes things can feel unfair.
We don't all start off with the same circumstances so it can feel like we get the short end of the stick.
There wasn't anything I really wanted to do and I didn't have internet to do research or to talk to others about what there was to do in the world.
Never give up. Never do drugs to handle your feelings or your suffering.
It's not the answer.
By the way, what do you want to do in this world?
Imagine farmers stop working thinking the same thing we wont survive. The new generation needs some guidance and govt need to create an environment for them so they can challenge themselves and get into innovation.
If this doesnt happen AI will take over. I was thinking AI take over will take time. With youth not opting to work it will be easy path for AI.
@@rickybobby7276
Lies. I survived college and got a job at 23. College was much more exhausting, although working at an office is boring and soul sucking.
@@jeremysclosetman shutup 😂
@@jeremyscloset tell us you didn't pay attention to this TedTalk without saying you didn't pay attention to this TedTalk.
The fact this video took 4 days to get 2.2 million views and the last videos on TED to break a million was 6 months ago on “how learning can be as addictive as social media” speaks to how important this topic of discussion is to people in this current time. WE NEED TO MAKE IT BETTER IF NOT FOR US SUFFERING NOW AT LEAST FOR OUR FUTURE GENERATIONS
RUclips algorithm loves this video for some reason.
Doom is popular, and the title/thumbnail sells it.
@@bradleywhais7779 Is it doom if it's the truth? The last ~40 years is the greatest transfer of wealth to the top 1% in American history, and it just keeps progressing. Productivity and profits have drastically raised and little 95% of that value is going to retirees. It's literally unsustainable if we want the next generation to live in an America with a middle class.
i am sure it's because the invention of CRISPR, or anything similar. those who are currently in power, hoard everything and create the system for it, because they think it's time for them to become immortal
@@bradleywhais7779 It sells truth that more an more people are waking up to and pissed off at. I wouldn't call that doom.
It's literally impossible for young people to live today. That's not an overstatement. It's IMPOSSIBLE. Shame on every person in power allowing this to happen.
It was ssimilae in Aerbia, so people left the country. No problem, young Americans will leave the US.
I may be young, dumb and broke but that's been changing for me. Soon I'll be dumb and broke.
It bothers me that people in my generation (Gen X) completely ignore the problems young people have that we never had to consider might exist as threats. I had to fend for myself at 18, yes, but I never had to worry about predatory lending, let alone predatory employment, when I was putting myself through college. Now my first cousins, all younger, are popping out babies my uncle gets to raise because they're priced out of college by just $1k. I would hate to be them because of the lack of support they receive from society. Please hang in there, but I can't tell you it's going to change soon even though statistically it probably will because I can't tell you how it's going to change.
Now Khalid stuck in my head
I started with nothing and I still have most of it.
Well you exhibit good sense, the sense of humor as important as any of the other senses all unique in their own way.
And old
I have been saying this for years, and i am the same age as this guy. Thank goodness he is using his platform to speak this truth. I went to a public college in the 80s. My tuition was $1000/yr, which I paid for by working jobs that paid about $5/hr. 100 hrs could cover my tution. My kids went to public college a few years ago, that public option was about $9500/yr. At that time, my kids could earn about $10-12/hr, or about 860/hr to cover tuition. Fortunately, the public investment in me has provided a very lucrative career for me and I paid my kids tuition in full. Unfortunately, I have similar analogies for starter homes, rent, car prices. I cannot help my kids with all of it. It is only getting worse.
Yes!
Just tell the kids to leave. 50,000 moved to Russia. That is how bad it is in the US run by unelected elites.
That's part of the problem, though. Prices go up, people still find ways to pay them (parents, student debt, sale of assets, etc). It also opens up the gap wider between the rich and others, whose parents can't make those contributions or they have to saddle themselves with debt and hobble any future financial growth.
The right thing to do would be just not to pay for college and go into trade jobs, and tuition would come down, but people just worry about their individual situation and create systemic problems in the process
@@leok7193The people who control the prices, also control the pay, so this is the expected result. Noam Chomsky lays this out much more precisely
@@leok7193If that’s your argument, why aren’t other countries having similar problems? Perhaps it’s because their economies aren’t ruled by private equity and money for social services aren’t sent overseas.
This needs to be everywhere. Made me cry, this is exactly what’s happening. I’m so tired of my parents telling me I’m so much better off then they are and squandering it. I have a degree and can’t get a job that pays a living wage. Gave up and started applying for anything. My mom who loves to tell me how difficult it was when she came as an immigrant and how she had to work as a cleaning lady until she got her job at the hotel serving. To prove a point, I applied to be a cleaning lady and the lowest entry position at her hotel and was rejected for both. Beyond more qualified then she ever was. I can’t even meet the level of an immigrant that can’t speak English now.
What is your degree in?
You didn't have to mention your education credentials.
It’s because you have no skills. A degree does not = skills.
A lot of college degrees are worthless. Prof. Galloway had some scathing remarks on how the Education-Industrial Complex exploits naive kids, but he didn't really touch on this angle.
Degree in what?
It does feel like this country is setting us up to fail no matter how hard we try.
It is, and always been. The city of destruction. Satan is the ruler.
John 10 10
The thief only comes to steal, kill and destroy.
John 3 16
For God so loved the world that He gave His only begotten Son that whosoever believes in Him shall not perish but have everlasting life.
I made my boss a powerpoint at my 90 day review to show how much I had already benefited the company. Hard numbers and measured progress. Then followed it up with a slide titled: "I can't afford to work here." showing a list of local 1star studio apartment rentals that I couldn't qualify for, even working 60 hours a week for them.
They gave me a raise, and I got my kid and I into a 400sqft studio with money for bus fare. But I keep thinking about how my salary's equivalent a generation ago could have gotten us at least a 2 bedroom apartment and a car, maybe even a house.
You're a hard worker. Got your kid into a better environment solely through you're hard work and dedication. Well done.
I have got to learn how to do this. Incredible story
Sounds like nyc
This country has been completely taken over by greed. You have to own your own business to get anywhere these days.
The sad part is that you shouldn't have to do anything remotely like that-essentially quantifying your existence to a company/corporation... "Huh, well, when you put it that way, I guess we can kick a few extra bucks in your direction specifically while never truly addressing the fact that people are widely not paid a sufficient wage while corporate profit increases year after year regardless of economic factors like infla-" Oh, well, I guess they wouldn't SAY that part.
I’m 23 years old, and I constantly have conversations with my peers about these issues and their solutions. That is to say, this ted talk wasn’t necessarily anything new to me because I live this reality. But I cannot begin to tell you how validating it feels to hear this summed up, and by someone from an older generation no less.
We are drowning. I’m drowning. My grandmother receives 2k in social security each month while she has 1.2 million sitting in the bank (we’re estranged unfortunately). I’m working three jobs and taking night classes at the community college to hopefully move my way up. I live with housemates to afford rent. I feel like a broken machine but I’m forced to keep moving anyway. 2k a month would probably change my life.
So would your solution be to end social security? Or perhaps only pay it to those who need it and put a wealth cap on who gets it. Oh my, that would require some kind of regulation. Yeah let's just make it a free-for-all
@@nnonotnow Yes! regulation, yep. you got it. Give the money to those who need it so they can flourish. This government/ economy has been stealing from working class, poor, and young people for 4 decades. Its time to pay it back.
@@nnonotnow You understand how your conclusion got away from you there, right?
@@nnonotnow Increase the cap so that it's fully funded.
Trying to ensure the rich don't get it might be more work than it's worth, but it's also an option.
@nnonotnow Well ignoring that wasn't at all what they said:
Actually society does in fact need to discuss a fundamental problem with social security. It is built upon two assumptions, that the labor pool will always drastically dwarf the number of retirees and that wages will always rise. Neither are true today. Social Security is literally bankrupt. Without fundamental reform, it will collapse long before today's youth ever begin to recieve benefits from it. I would not blame a young person for viewing the additional tax burden of social security as unjust.
The federal government being a financial nightmare is also unfair to our youth. No, the national debt cannot go up forever. Somebody has to pay for it, so our young people can quite reasonably expect a heavy tax burden throughout their lives, spent on servicing debt their ancestors accumulated, and for what!? I've already addressed social security, and similar problems abound for other entitlement programs which is the majority of the debt, and the next major sources are the 2008 and 2020 bailouts of the financial system, and financing for forever wars like Iraq and Afghanistan....
And we're telling people that were either kids or not even born yet when all these things happened that it's their bill to pay.
Our youth have a lot reason to be angry, and unfortunately the bitter reality of addressing these problems, and I say this as a socialist in favor of nationalized health care: the government very well may not be able to afford grandma's social security check and we've already mortgaged more than enough of our youngs future to try and pretend that we can. Don't blame the kids, blame the corrupt greedy society run by "adults".
This man called out an entire generation and society, massive respect. Hopefully the awareness will bring actions.
Best comment.
It wont, the billionaires aint in the audience
@@Memorax As if punishing the billionaires would fix most of these issues, yeah right. Things have to change from deep within, especially the social media epidemic. Academia is a waste of time, all they produce are Marxists who hate their own country...no wonder the US is going down the drain. Both sides in politics will print money they don't have, pushing the debt onto future generations...it will never stop.
Alvin Bragg's case vs Trump just imploded, so will the RUclips censorship team by the end of the year.
It won't but it was a nice presentation lol
It’s worth remembering that old people who do not own capital are in the same boat as young people who do not own capital. This isn’t a story about old people exploiting young people, what we are seeing now is just the natural progression of capitalism into its end stages. The young factory owner is just as capable, if not more capable of exploiting his/her workers than the old factory owner. Pitting young versus old is just another way to distract you from class consciousness.
Underrated comment. Agree 100%.
The statistics that Scott shows is devastating to look at. I'm 23 years old and a few months ago I completely gave up on everything; Friends, family, hobbies, work, everything. One look at charts and second look at the people in your age group is enough to just completely give up. One of my old coworker's knew a 15 year old that took his own life and the first thing that came to my mind at the time was "I can't blame him". The hopelessness in my generation is heartbreaking, the only thing we can do is keep a positive attitude and keep pushing.
Life is all about mindset. Are you linking your value to your income and assets? You need reevaluate everything about what makes you you, and what makes you valuable. 23 is young man you can change your world.
Don’t give up buddy. There will be opportunities. For example, to avoid paying rent, my wife and I house-sitted for a few years and saved quite a bit of money.
Keep in mind, we’re living through an epic asset bubble. History suggests every bubble pops. When it does, there’ll be other opportunities
Don't kill yourself! Take a professional politician with you... In minecraft.
Yeah I feel you there. I'm 24 and I'm so deep in college loans it's insane. I literally starved myself through college because I couldn't afford food it was terrible. Still struggling with a molecular and biotech degree too lol. College is a scaaaaaaam.
RFK jr is the only politician talking about these problems. I am a white 59 year old male and I have had to deal with a tractor trailer load of BAD LUCK
I'm 32 and newly married. I have pressure from both sets of parents to have babies but my husband and I can't even find a house in our area. Each house has 4-5 offers well over asking and even when we offer over too, we get rejected. It's easy for our elders to say do this or do that, but we're trying our hardest and still getting nowhere.
good for you. It's better to not have kids than to have kids and not be able to care for them. Ignore the pressure, it's your life.
Don't
The older generation will never understand our struggles
It's ridiculous in my neighborhood, a lower middle class neighborhood in South Louisiana houses used to cost between 120 to 175k now they're at 280 to 300 it's absolutely absurd. My dad planned to buy a house after he retired now he can't even afford one and is stuck renting from a crappy stingy landlord.
@@BarbaricRug same for where I live, central IL. Used to be cheap houses, now it's the same prices as your area. It's unbelievable
We’re all a product of our society. I’m 61 and anytime I hear people complain about the younger generations, it ticks me off. If I was 21, I would be just like all the other 21 year olds. I know a lot of people my age that have never had a work ethic. They just inherited great economic times through no work of their own
Thank you for saying this. This point is too often ignored... people are people across generations, there are no "special" generations... just people.
Case in point - the "boomers" in my life are the most phone addicted, social media addicted people I know at this point. Yet at the same time they criticize the young people who are having to be so disciplined to succeed, all while surrounded by more distractions, garbage food, attention-robbing media, cheap thrills etc than any generation before. Nevermind all of the political, social noise. They are set up for failure, and that is what is happening.
🇺🇲⌚️
@@nriicv1572 I couldn’t agree more. I fear for my grandkids that are growing up in the world I helped create. I do have a lot of hope for the future though. There are a lot of hard working , smart people out there of all ages that are doing their best to ensure a safe viable future. I see the biggest threat as politicians who continually want to divide us with no positive outlook and their desire to hold power
I assume you mean if you were 21 today, not 40 years ago. If so, I would agree. Twenty-six years ago, when I was 21, I behaved similarly, but it was more a mental attitude than an outward expression. Youth were still encouraged to respect elders and have some semblance of Integrity. At least in public. The ones that really acted out in rebellion were fewer and farther between. It seems youth like my young self and my peers are the minority now. 40 years ago I'm sure this was even more the case.
It has absolutely nothing to do with work ethic. You’re an absolute sucker if you think hardwork is going to get you anything but more hardwork.
This is probably one of the most important videos I've ever seen. I have argued for pretty much everything he has said and this is the first time I'm finding out about this guy
It's remarkable hearing someone of his generation speak honestly about this
How could they not see government and big corporations cooperate against us for so long and accept it?
That’s Scott for you. He’s brutally honest in his analysis. He always admits the system is broken regardless of whether he’s benefiting or not. It comes from a place of confidence that he can make it work even if the system wasn’t broken.
@@na3rial does it come from confidence or from understanding and candour? The ppl doing this understand. It's WHY they do it. They just don't want anyone saying it, they want everyone saying it's the lazy new generation.
Except small and medium sized businesses would be DECIMATED if the minimum wage was $20 per hour (let alone $25)... Rural America covers larger portions of land and cannot operate under laws implemented by "big city" politics.
@na3rial……Yeah, confidence in knowing how to play the corrupt system, and confidence that he’ll get to continue the benefits while so many will live in poverty.
I don’t think Scott really cares if this broken system is ever fixed. Plus, he’s doing just fine in this corrupt, broken system.
I'm 38, I work full time as a network administrator, my pay isn't bad but I will never own a house nor have any kids. this presentation made me sad, but i thought it was very good
I'm genX , and I own a home now because I inherited the one I grew up in. Dad took very good care of it. Being an only child helps too
Same😢
People have kids with less money than you. Don’t give up!
I'm 2 years ahead of you. 🙃
I get it... I have a wife and kids that I wouldn't trade for the world, but the reality is that we are barely scraping by. As a single person I would be doing alright but with a family... well anyway. I understand why fewer people are choosing that life for themselves.
There is a mounting sense of anger in the younger generation, and we are all totally screwed when that anger peaks and breaks loose.
This is a cycle for most successful empires throughout history. The empire reaches an self-detrimental level of condescendence, the wealthy class (old people in this case) party like there's no such thing as death, and the ones who have nothing (young people in this case) end up in revolution. Vive la revolution!
It's Coming........ Soon
@@rokrangedit’s gonna be no country for old men
@@kellyriddle8789 oh yeah real soon
@@kellyriddle8789none of you have the balls
I’m a black man from Detroit, love u man , keep doin gods work
Never been easier to become a billionaire, never been harder to become a millionaire. Speaks volumes on the argument of "well just work harder"
I think this is unironically the best Ted talk I've ever listened to. I literally graduated high school 5 years ago and I've watched mortgages more than double. "The whole point of higher education is to give the unremarkable a chance at being remarkable" I really needed that chance, but I couldn't go to college because I couldn't afford to go to any of the schools I got into, even with what scholarships they gave me.
Do you think this is the only time or people to have mortgages double? You not thinking there is a solution is why we make fun of you.
Uhhh this is the largest interest rate and housing value hike the country has ever seen combined hands down. The fact that you are unaware about the real state of things is scary.
@@Mr___f I am aware of the current state of things, just as I was in 2008, this too I will weather. But if your solution is to complain, I can see that it is not external factors that keep you poor. Go ahead, tell me your solutions that you alone can do to remedy your situation.
You don't need college. Gain knowledge and skills from the Internet. Many jobs don't need the degree, and they are paying good
@@fatmonkey4716 okay government bot
I'm just tired of working SO HARD and getting nowhere. I'm moving backwards at this point. It's just so damn hard
We became home owners at 16 and 18 years old. We have worked ourselves to the bone for the last 10 years and we have almost nothing to show for it. We are almost at the same place we were 10 years ago dispite making more money and having some assets paid off. We just CANT get ahead even in the best of circumstances.
@@SarahMc585 if you have paid off some assets, that is progress, isn’t it?
Agreed! I'm totally with you.
Ikr😢
Seriously, consider moving to a lower cost of living area if you havent already. We moved from Los Angeles to a suburb of Pittsburgh. Cost of living went waaaaay down. My life is better making $68k here than $110k in LA.
This is the most well-done concise presentation Ive seen.
This is happening all across the western world, not just the US. This video needs to be shared until it has over a billion views so people will know the truth.
Yes it is happening everywhere but in Europe and most places, it's not nearly happening as quickly as in the US.
Move to a non western country then.
If you dont know the truth you've been conned lmao how obvious
Anybody actually capable of comprehending the lies that have been told to them have already woken up to the truth. They just dont care enough to do anything about it.
Sad thing is, people don’t really care
A single man used to be able to provide for a household. Now it takes two people working to not be homeless. I live in seattle and the average cost to rent a full sized house is $3600/month
This is something that is so upsetting as someone who wishes to some day form a family. How is it possible that a single wage isn't enough to sustain a family? It's insane.
I don't think humans should keep replicating population can't keep expanding indefinitely
I lived in Seattle till 2017. At the time, I was making a reasonable salary in a decent job, but there literally were no houses in the city that I could afford. So I ended up in Tacoma. And the house I bought there appreciated to an insane value when it was time for me to move out of state in 2021. I'm keenly aware I got fortunate but I just can't fathom how people get by in Washington anymore.
Why would a single man, nay person, need to rent a full sized house?
@@jojojo724there is a limit, we haven't reached it yet. The point of this video is that wealth is being concentrated in the older generations, already wealthy, and corporations.
This talk gave me so much hope. Today’s media feels so disconnected, the conversation rarely feels about what’s important anymore. I hope this talk continues this trend.
Sadly, it’s not an accident that the media (especially mainstream) is disconnected. They’re intentionally distracting us from the systems they benefit from, and continually create moral panics to get people to stand for ridiculous nonsense, instead of fighting for change
Media is paid to be disconnected.
"Conversations" and "awareness" - of stuff people are already aware of - is all that's being achieved. At legislative and policy level, zilch.
The talk may continue, but nothing will come of it. The old will always prey on the young. And, you will do it, too, if/when you reach 50.
They are also just straight up lied about a lot of stuff. It's crazy when you can see the truth but ignore it because the news told you something different. I can't understand why no one is angry that they have been lied to.
My narcissistic mother telling me all my problems are because im lazy: "I was able to pay for my own studio apartment for $200/month on a part time job in the 90s."
I pay $825/mo for a studio apartment. I work full time, earn more than minimum wage (everyone should be-our minimum wage is a joke), and STILL cannot afford rent at the end of the day.
But yes, gen z is just too sensitive and lazy. Nothing more to look into there. 🙄
Convincing the older generation of the points from the presentation is nearly impossible as they have zero incentive when their fundamental understanding of their existence is, “I got mine, so you can get yours too. Anything else is theft.” No amount of graphs, data points, facts about how times have changed will change this fundamental, emotionally anchored mindset. They don’t care about a future they can’t exploit.
Exactly. If things don't change it will fall to us to force the change by any means necessary.
Adapt. It's more competitive now. But younger generation has more resources to succeed (internet on the cell phone alone is way more than the older Gen could even imagine).
The best baby step we can take is getting more young people to voting polls. I know voting isn’t enough, but it’s a start. Vote for the youngest people on the ballot and get the fossils out. Being a politician shouldn’t be a career, it should be a short term duty to your constituents.
@@reelrocknrolla4251 did you even watch the video?
It's not "I got mine". It's "I earned mine".
"How can I increase my compensation while reducing my accountability?" Such a profound statement. It's basically running on a hamster wheel expecting the same results with half the quality or reflection to even try making basic improvements.
That is the essence of "profit over people" and "me first", or otherwise known as entitlement.
That’s how everything is just like consumer goods half the product at a lower quality but costs twice as much
@@angelicfurry301 Exactly, where is the ethics in that? Its the survival of the fittest I guess.
this is how an individual organism behaves to maximize survival and gene transfer. In a society like ours, this kind of thinking is poisonous to every other connected entity. We aren't individuals carving out a niche on our own; we're part of a much greater whole, and every opportunity we have to improve ourselves arises from that whole.
I worked in higher ed and I know this to be true, not hyperbole.
I am a public service worker and was working on a beach house. Speaking to the owner, they bought it for $55k in 1984. Nowadays that same home is worth $1.2m on Zillow. I'm 27 living at home, and everything is hopeless, but if you give up, nothing happens. Even throughout my short adulthood, these ever expnading goal posts are completely discouraging.
Yes so those who can will move.
Jon Stewart on one of his recent episodes reminded us that the majority of American public service workers are like you, who are trying to make the system and the world livable, and genuinely a better place. However, the ones in power do not feel the same way. They might pose that they do, but they don't. Not unless you're Bernie Sanders.
55k was worth way more back then than in today's value. Also I remember in the late 80's summer day care we went to a youth museum and the van went through an older neighborhood (not quite mansions but big old Victorian type homes) the teachers (probably college age or a bit older) said they wouldn't want to live there. Now the old houses are fixed up and worth quite a bit more. So I'm wondering if that's what happened to the beach house.
I hope since your living at home your saving/investing most of your money (while helping your parents out). Buy a house/move out on your timeline *not* the Jones timeline.
@@aamirhus23 Anyone who works hard for their money I support, even public service workers. Problem is the services they provide come at the expense of every taxpayer. Yes, there's greed in this capitalist system, but the government driving up massive deficits at the expense of every taxpayer is not alleviating the burden. And John Stewart can't differentiate between market value and tax assessment value. You don't pay taxes based off the amount in the bank loan.
call yourself lucky to be a public service worker. for the same wage you would have to work a lot more in the private sector. I'm also a public service worker but I came from the private sector.
The USA destroyed everyone's future on Nov. 5, 2024. I am 74 and feel I have no future sny more. I am so sorry for all of you younger people.
My grandma told me a story about how she moved to my hometown in the early 60’s with her now husband to get a job teaching at one of the highest paying school boards in the region. They were both teachers, and had college debt, and had planned to move to my hometown to pay off that debt by working… for *two years.* they never left, but it blew me away when she said that she was able to pay off her debt in just two years of working full time. Insane.
No but think about it, they didn’t pay for cable, internet cell phones, subscriptions. If they had septic and a well (no fees ). No fast food and Starbucks coffee as .25 or less. Cooked from scratch. Didn’t buy lots of shoes, clothes and purses. People were frugal back then
@@JuliaLewis-c7g doesn't matter average teacher pay now is $20 an hour or lower, average for a teacher in 1980 was $8.50 an hour which in today's inflation is a good bit over $30 an hour for an elementary school teacher. Minimum wage in 1980 was $3.10 an hour ($11.16) now it's $7.25
@@JuliaLewis-c7g Those are the talking points of think-tanks that have been disproved again and again. Sure there was no cable or internet fees but there were other expense like phone landlines, basic kitchenware was far more expensive, etc. People have always had baseline expenses that you cannot avoid no matter how frugal you are but it is undisputed that this generation has by far the largest slice of rent/home cost and other essential expenses than any generation of the last 60-80 years (as a % of median income).
No matter how people slice it this generation is getting screwed at all levels, irrespective of how much they work or save and it's only getting worse. This presentation needs to be shared everywhere.
@@holmbergaudio that’s not how school boards work bro
@@bryanr93How do they work?
This is the first time in my entire 25 years of life that I’ve heard someone truly breakdown the economy and the changes since the 80’s, and also introduced the concept of the top 10%… everyone always talks about the top 1%. The elite. Who even is the top 10%? Is it achievable? I don’t need to own the world, I just want to sustain my family 🤷♂️
me too man, 24 yo here making 67k w insurance and it feels like I'm still behind massively
The top 10% - 5% are still normal people barely out of the middle class
@@AmateurHourProdu Same. Yet the people in charge think a $3,000 a month mortgage is acceptable. WTF
@@xgunthercThen those same people advocate younger folks to go to college and get into more debt, to “afford” the mortgage.
Just working a regular job will get you nowhere. Let money work FOR you, not the other way around. Start investing early. No need to tag along the rat race just to keep up with your neighbour.
I’m a 23 year old male and growing up I always was told that I am young and these will be the best years of my life. It has been just the opposite. I have never been more stressed or miserable in my life. I work my butt off and work over 50 hours a week doing hvac in TX and still struggle to make ends meet and have begun accumulating debt. I don’t see w future for myself, my aging parents and those that are younger for me. I feel like we’ve been handed a horrible set of cards and the generations before us will tell us to figure it out just like they did. However, life is drastically different and worse now than when they were this age. The only way I can see myself being successful and enjoying my life is to either work hard labor for the rest of my life or to somehow make it big online doing what I love.
this.
"work hard labor for the rest of my life or to somehow make it big online"
Use your tax advantaged retirement plans to DROP your tax bracket so you pay LESS. IRA, 401k or SEP IRA if you are self employed. Eliminate vice and entertainment spending until your debts are gone. Remember, it's not what you make, it's what you KEEP.
Stay in the cheapest possible living situation you can find and save to buy land.
"learn a trade, bro" copers mad seething. You mean learning a trade isn't a silver bullet either?
@@OriginalBongoliath No, because guess what? In the real world, options have pros and cons. You may make good money and not have college debt in a trade, but construction is cyclical (boom or bust), there's a lot of sexism against female employees, and there's high wear and tear on your body. Working to 65 may not be an option.
I have even worse news for young people..If some of this anti-labor anti-worker stuff in Project 2025 goes into effect it's going to get even worse.. That plus automation and AI is going to change the workforce in the years ahead.. Things are only going to get worse and the system is going to continue to be tilted toward the 1 percent.. They will control the system and the jobs we are complaining about now will be a dream compared to us entering the Mew Gilded Age..If you don't know that was what our system was before labor laws were established and the 1 percent want to go back to that so I don't have much hope for the future
This guy needs to be a policymaker. Really hope he runs for office.
I heard an lecture in the 1980's. I was born in 1950. The Economics Lecturer made One Big Point--My Daughters Generation (she was born in 1968) would be the LAST generation that could guarantee Their Children a better future than they had. He was right! I've watched it happen.
Thanks for the additional context. For those of us with young loved ones it is painful to see what has happened and that it could have been stopped
And what the lecturer said the reson for it was?
@@shainesunny Very painful!!!😢
@@anita77771 keynesian boom-bust economics, due to governments skimming off the top of the economy until things go bad, and then taxing anything that moves to save their own political careers
@@jordancarlin9687 Also big corporations. Big corporations do own majority of the politicans. Two sides of the same coin.
This guy just said 100% of what I’ve been on to, but has all the evidence, graphs, and wittiness… we need more people to see this
“Do we love our children?” Lots of my generation grew up where the answer was No. Even the richest whitest kids in the 90s sometimes had parents that valued status, luxury and image over their child, so it wouldn’t shock me that old people value money over their own younger relatives.
That’s the point. The answer is “no”. Just look at the comments from wealthy geriatrics here who think it’s just a problem with our youth today “whining” and not wanting to “work for anything” while enjoying the fruits of those same youth’s labor and benefiting from everything offered in their own youth. They do not care. They do not love the children. They have zero societal responsibility for the future of their country and their legacy. Someday the babyboomers will be known as the generation of greed that took down America.
Excellent point. I’ll go a step further. There are parents nowadays that aren’t even rich that would rather keep up with the Jones’s lifestyle than look after their children. Do you really need granite or marble counter tops just to brag about them? Too many living beyond their means just to try and be cool. I’d rather spend that up charge on my children.
Oh I can absolutely 1000% confirm that it has gotten much worse since the 90's. I can easily provide examples living on my street. A more well-known example would be the Kardashians.
This would explain why a lot of older people's advice to us is basically to suggest that we lived in worse conditions than even they had to* in order for us to hopefully reach financial prosperity. A lot of parents from the older generation unfortunately see their children as competition.
*Don't argue me on this (speaking to the boomers); someone of your cohort literally spent nearly 20 mins to show you graphs about this, so don't waste my time with your tone deaf counter-arguments.
The saddest part to me is this isn't anything new. I've met too many people of the generation prior to mine who weren't loved. And the same for the generation before theirs. Parents loving their children just plainly isn't normal.
"When did we decide that the money that capital earns is more noble then the money that sweat earns?". That one hit me between the eyes.
Just turned 30... Ive realized half my life is now practically gone and within a decade I need to save for a house, family, travel while I still can all the while working 50+ hours a week to only be able to save 1-2grand... My mom made $12.65 pretty much her whole life shes now 70 and retired but she was able to buy a house/car etc and make it just fine.. The times were living in is just flat out scary. Ive come to realize i may never own a home and if i do ill be burned out to even enjoy it..
You sound so young. Your "problems" include, "I need to travel while I still can..." Did your mom, with her comparatively "easy" life travel much? Probably not, bc by your age she already had a couple of kids. And despite your grave situation, how do you manage to afford the latest iPhone? Bc everyone in your generation finds a way to.
Despite your woes, I doubt you'd be willing to work for "the man" for 40 years in a cubicle with 2 weeks vacation a year like people of your mom's and my generation did. Of course not ALL of us did - just like not ALL or your generation feels trapped the way you describe.
Every generation has challenges; in the past, people might be held back by being a woman or poor or black. And please don't complain that it's still that way when it's clearly not.
There are always haves and have-nots - and what distinguishes them is character and effort. So which are you? Cause right now, you're just describing delayed teenage angst, rather than figuring-out how to successfully play the hand you're dealt. And folding and saying "I'm out?" Is only an option if you have an inheritance or other parental "safety net."
@@Lionforaday Everyone in my generation? My boyfriend has a $200 Google phone, as do all of his friends, who are all in their mid 20s. I am 24 and I have had my mom's hand-me-down Samsung for 3 years and will have it until it breaks. iPhones suck. I would rather upgrade a part in my PC than get a $1000+ accessory. Generalizations make you look foolish.
@@Lionforadayyea I still use my iPhone 8 I’ve had for 6 years. Even tho Apple is actively trying to sabotage it with new updates it cannot handle I still find a way. I bet you never had to deal with that. Talk what u know. You probably bought your first house for $18,000.
30? Your life is isn’t half over dude. You’ll prob live past 80
@@S-sp2fe Like plz reread the comments because what you've just replied to me makes genuinely no sense 😂🤣 Wtaf?
This video needs to go viral. Its getting immensely frustrating trying to explain this to people.
It's not laziness. Its greed.
I just shared this with someone who I greatly respect, but who views the world and its issues through this lens of "the poor are lazy; the ultra-rich deserve their wealth." We debated this issue often, very often, over the years. And I've often used some of the fine points Galloway makes in his writing. But this video is perfect. It is a perfect distillation of these issues. I couldn't say it any better myself. But we should all still try. I have children, is the thing. And I'm very poor off. I desperately want them to not struggle like I do to this day.
It’s greed, but government greed. They have been money printing the middle class into poverty for decades so they can continue to deficit spend. Essentially, they are using new credit cards to pay the interest on old credit cards. It creates a stealth tax on the middle class through an increase in the money supply and currency debasement.
@@ceeaymoore teach them practical life skills, like growing food, get them out in nature. This idea of being rich blah blah, who cares at the end of the day. Society is sick and it is a poison on people, and that does not escape you if you’re rich.
“It’s greed” it’s democrats
@@Catmeat106guess you didn't understand the video very well because not once did he say it was republicans or Democrats he said old people. You know the part when he said he's an ageist because the old are stealing from the young. I think you should watch the video again and this time listen to what he is saying.
I’m 32 and still feel like I’m not an adult yet because I haven’t got to any of the stuff my parents were doing in their early 20s. By my age they had 4 kids and owned a house. I make like three times as much as their combined household income when they were the same age. I don’t make enough to support a family if my fiancé stopped working. Brutal times.
At least you have a fiancee!!!
@@rickybobby7276y r u such an angry fella
It’s a generational problem we are facing. There is so much rage bubbling up to the surface- it’s scary
@@rickybobby7276mf missed the entire point of his comment. His income HAS doubled. But if his fiancé is unable to provide income, he’d be unable to support anyone solely on his income.
Meanwhile, our grandparents’ generation could easily support a family on one SOLE income, and our parents’ generation could do it too. Now? Not really achievable for most young adults.
@@aaronmontero447exactly 🤦♂️
My boomer aunt was an elementary school teacher; she retired at 50. She just turned 70 last year and bought a 5 bedroom house on 3 acres of land…She’s single and has 2 dogs. Meanwhile my siblings and I in our 30s can barely buy a house. Driving 16 year old car that probably wont last 2 more years and Im scared shitless what we are going to do when that needs replacing. We all work full time more hours than ever; cant afford to save or do anything. Life is getting harder each passing year especially since covid.
We need people like this as our politicians. Not rotten to the core apples.
I wonder why people like him don’t become politicians…
@Vareiance well when they do, the corrupt politicians do everything they can to destroy their careers.
@@VareianceBecause narcissists and sociopaths are drawn to positions of power. These types of people are incredibly traumatized and insecure to their core, so they seek power to make themselves feel worthy. The political system is the perfect place for narcissists. The problem is that these types of people lack empathy or a moral compass, so they're able to do destructive things that most people wouldn't. They will lie, cheat, manipulate, steal, and ruin the lives of anyone in their pursuit of power. Most normal people aren't drawn "power", we are instinctually a social and community-based species. Narcissists are more likely to chase power, whereas most people are just trying their best to live.
@@VareianceBecause that kind of integrity precludes you from holding office. Because you can't get people behind you to make the deals behind the doors. And passed the money under-the-table in order to win..
Bernie Sanders
This is the most honest and real Ted talk I have ever seen. THANK YOU. One thing also to mention- people are forced into industries and jobs they don’t want to do just because it pays better. Not to get rich, but to survive and afford a house! And jobs they’re meant to do and have a calling for are filled by rich people who can afford to take a pay cut. It’s unbelievable and cruel, and a total disservice for humanity and global prosperity and will ultimately lead to the US’s downfall.
It's life
I have lived in the Netherlands for quite some time, it’s not life. It’s more extreme in the US. School doesn’t cost as much anywhere else in the world
Paycuts in no way can supply employees with more money. So tired of hearing this nonsense.
You could take the CEO of Walmart's entire salary and split it evenly amongst all other Walmart employees and each employee would get less than $10 a YEAR extra 😒
@@jackt.3331Take. All.
Every exec, board member.
Refusing to increase employee wages in proportion to rising profits only helps shareholders, not workers. A full worker is a focused worker, and focused works makes you money.
@akdwulit that's because America subsidized Europe so much so Europe can live in a supposed socialist utopia. Imagine if Europe had to spend its own money on its military?
Im in canada and I've spent the last 21years in a career I hate. Started my own business in this industry, only to have our current piece if socialist garbage PM bring me to near bankruptcy.
Screw this socialist garbage.
Older generations have told younger ones that hard work pays off...however in the past years we've seen hard working people get laid off and replaced with machines, hard working people not being paid a just wage, etc. Now we've reached a point where younger generations are seeing that hard work won't necessarily guarantee you a job, a raise, a house, etc
And remember.. in their day, you didn't even have to work hard.
Hard work today really only benefits those at the top of the ladder. We are just a number. If we work ourselves into an early grave they have a line of people waiting to do the same thing. The younger generation is seeing that they gotta put themselves first because no one else will.
There was never a guarantee. Who told you that?
@@brianluck84The hard worker tends to be the last to be laid off.
@@brianluck84with that attitude we will become the Philippines soon.
I don't completely agree with everything he says, but his overall point is undeniably true.
My kids and their 26-28 yo friends say there’s no hope, no future. They can’t buy a house, buy a car, get married, support a family no matter how hard they work. Half are living at home. My sons student loans are 1/3 what i paid for my house - this after receiving $260k in tuition grants.
My millionaire rep sent a survey about legislative priorities - all crises - but not once did she mention income inequality or taxing the billionaires, her friends and sponsors.
And all the "Must pass" bills congress does get through are just multi-billion dollar military funding packages that go to other countries. It's a terrible system.
Msin reason I never thought about having children. No hope for the future, struggling to live. No sense of purpose.
A lot of my friends in their 20's and 30's work full-time jobs and can't even afford their own studio apartment. They literally just rent a room in an old house and basically live like college students even though they work hard. I still live in my parents basement and the saddest part is I know my situation is actually better than theirs. At least I have my own bathroom and don't have to rush constantly with people waiting outside and knocking on the door to shower ad get ready.
They've virtually set things up to be a financial camp. People are slowly breaking out of the debt paradigms, because it's not easy. The 'normal' path to anything is beset with profiteers, faik. Everything is expensive. Personally, think a lot of people are lying, ownership, or someone takes too big a piece in the chain...min wage is too low everywhere by far. It's criminal, and everyone who gets paid hourly, outside trades, has had no one to go to for decades. And often are met with accusations, de-humanization, etc. Well, you can imagine how one gets well passed over that f s4!7.
I just don't think taxing will fix it. Get rid of regulations that force increases in the price of living
The thing I find the most incredible is how much a lot of older people despise younger people for struggling to get on their feet. Its historically difficult to buy a house right now, and you won't have trouble finding tons of older people making fun of younger people for lamenting that fact. They are convinced they are special, and that there is something wrong with younger people. An absolutely disgusting group of people.
Houses will soon be only for the ultra rich as is clearly obvious. Personal vehicles as well. It’s all the design of the future thanks to democrat socialist leadership.
@@Impertinent1 why are you listening to me?
why do you have ears?
Younger people work 30 hours a week whilst complaining about their socioeconomic status
I couldn't afford to buy a house on land until I was 47 and gave it to a cousin who had numerous grandchildren before I was 57 because I couldn't afford to keep it up. I had septic in for 3 homes. I only bought 1 home and had it moved to the property in 2010 because I couldn't afford the other homes.. I know my cousin took over the land mortgate and expanded the septic, she has 4 houses on that land all filled with family. This all happened before 2018. I now live in an apartment just like I did from 1980 to 2007. I have a part time minimum wage job that will end shortly after I turn 65 which is 2 years from now unless the economy improves. I don't hate anyone, and I'm in the bottom tier of the housed Americans.
This man is speaking so much truth that the audience doesn’t know what to do.
I wonder how many in the audience even have kids? I mean feminism has done some work where it gives women the false path to happiness: career is more important than children.
@@cindyl3297 That is a random statement lol
@@johnnewton3592 its relevant AF
This is likely the best TED Talk I've encountered.
When I graduated high school in the mid 2000s and entered the workforce while trying to pay my way through college, I received a cold, hard lesson in the great intergenerational theft. And at that time, my parents were so frustrated with me. "You moved out of the house, you work full time, why can't you afford to pay your utilities? Why do you need an extra 20 for groceries?" It was a major source of tension and anger between us. We were distant for years because of that.
And then one day, in 2015, my dad realized what had happened. I don't know how he learned about it, I don't know what made him realize the truth, but in 2015, he suddenly apologized for being so hard on me and not understanding what the problem was. When I said, "My future was mortgaged away from me by older generations before I could even consider it," he understood and he agreed. This crisis is real. It's here. And if you don't understand why millennials and Gen Z are so angry and vocal these days, you need to watch this presentation again. Thank you Professor Galloway. Thank you for reminding me that I'm not crazy and that this actually happened to my generation.
"Fk you, I got mine. You're just lazy."
-- Boomers to everyone else about everything
The gas lighting of our generation has been so real! I grsduated hughschool, moved out and went to college those same years. Very similar experience. Im glad your dad came around
@@brocksampson2590You need to go back to school based on how you eloquently write.
@@imaculate3571it was one typo… you really think you did something here
nope. ur just lazy.gen z here.
I'm a 54 y/o full time RN and single mom..I'm so concerned about the future for myself AND young adults..I send this TED talk to anyone willing to listen..we all need to WAKE up
You’re a tough cookie! Respect.
Wake up and do what?
@@Double_Stack That's the spirit. Throw in the towel without a fight. Enjoy therapy.
@@rnangel69 Make your kids get jobs and save money. Teach them that "hard and stressful" doesn't mean "can't be done".
@@rnangel69 Max out your 401k and IRA every year. Then, (assuming your debts are paid off) max out your HSA if you have one, while paying cash for your copays.
5:45 “they are a Hedge Fund offering classes”..... thank you, YES!! I work at a financial institution and we have accounts of many university endowments. You simply CAN’T BELIEVE how much wealth some of these universities have. Yes, they should lose their tax status.
They are private schools. Doesn't that inherently make them for profit? I work for an education technology company and while our work is "education" that doesn't necessarily give us tax exempt status.
Thanks!
Scott Galloway presented this information concisely and accurately. Ten years from now, we shall come back to watch this very same video to realize that he was right, and we still did absolutely nothing to save the future of our youth and the future of our nation.
Don't worry we're going to go ahead and do that for ourselves
It’s hopeless because the Democrats don’t care about actually improving the lives of people because that would mean giving up power and control.
@@pro_154 Hard times are ahead, gents. Keep your rifle by your side, and keep your powder dry.
You will all be speaking Chinese and you will own nothing.
One of the most densely insightful and productive TED Talks EVER. It’s incredibly rare to find thinkers who correctly identify systematic flaws and offer concrete, actionable remedies. Thank you Scott.
It is not rare to find thinkers like him, it is rare (if still existed) to find doers to get any of these implemented
This video is a tragedy. The speaker begins by identifying some terrible trends in our society, and then proceeds to recommend solutions that would make those trends WORSE. These trends are all the result of government intervention into things that ought to be private, things like food, healthcare, and education. No, as a Millennial, I do NOT want more government regulations, I want FREEDOM. That means LESS RESTRICTIONS, and LESS INTERVENTION FROM GOVERNMENT.
A corrupt society is a society with corrupt value systems, and the most fundamental system of valuation (apart from what goes on in each person's brain) is the MONEY. The boomers totally F***ed up by electing government officials that have been ENCOURAGING fraud and corruption, rather than PUNISHING it.
Bitcoin or gold, take your pick. You don't fix a corrupt society by providing more power to the corrupt individuals, and you also don't fix it by stealing (corrupt behavior) from the elite and giving to the poor. No, you fix a corrupt society by fixing its system of VALUES and EVALUATIONS, and to do that you have to encourage the society to adopt a money that is, in one way or another, tethered to the laws of nature. The problems that this speaker addresses are all the result--either directly or very indirectly by a series of interdependent relationships--of FIAT CURRENCY.
Man cannot produce, simply by speaking (fiat)... only God can do that (e.g. fiat lux). Fiat currency is an abomination.
Sorry to burst your bubble, but he's still surface level to the issue. For example, recommending an increase in minimum wage only increases his asset value. Still glad the destruction of younger generations for the boomer's check is being talked about though.
@@Andrew_2414 It's naive of you to think the private sectors would act for the mass. All is to increase the wealth of its share holder. Look at Canada. The banking sector is dominated by 4 big banks and their fees are outrageous. All of groceries chains are owned by 3 companies. The Canadians young generation today is way poorer than ever before.
Not to say I don't understand the benefits of private sectors but there should be regulations from the government to benefit the mass.
@@mikele7982 I never said the private sector should act on behalf of the masses, I just said that government intervention should be extremely limited. It is government intervention that gives all the huge corporations an advantage over their smaller competitors.
Ultimately it comes back to the money. The money is corrupted. Fix the money, fix the world.
Overwhelming data shows an overwhelming problem.
Thank you Scott.
Your kids leave college in 6 figures of debt to compete in the marketplace against kids like me who IMMIGRATE over the same age (21) with NO DEBT and the SAME DEGREE.
Don’t get me wrong I’m benefiting from it as an Aussie but would infuriate me as an American kid
Completely ignores the elephant in the room like all of these psuedointellectual discussions. It all boils down to overpopulation and immigration. Wages have been flat since the 1965 Immigration Act. Without it the population of the US would only be about 250 million today. We'd still have a strong middle class, and these problems either wouldn't exist or be easily remedied thanks to a better balance between labor supply and demand, and the absence of the domestic turbulence and political disunity that has been created by adding nearly 100 million additional unnecessary people that we don't have the resources for.
You can keep closing your ears and pretending that infinite population growth in a finite world is not the problem but I assure you that this will get far, far worse as the US population nearly doubles over the next 80 years. If we ever see a positive upward trend again it will be long after the system crumbles under its own weight and the ensuing massive population decline.
Don’t care for Ted talks but this was a moving exposition of everything wrong in this country, all of these issues have weighed heavy on my mind for decades I just never could articulate them like this.
This Galloway right or wrong brought to surface important realities in the USA. But he does not ever offer or demand that Americans be creative, organize, gather in assembly, nor does he demand Americans to forcibly unite to discuss with dialogue, exchange or civil engagement how to rise up against all these topics he suggested. All he did was DO this DO that. Fuckin this Fuckin that. Venting out is what he sounded like. Still, at least this TED conference rose all these matters up in the air.
It hit me hardest when he said we value the gains of capital over the gains of sweat. One is productive, the other is imaginary.
says the guy posting on his imaginary internet
@@SacredCASHcow "Capital" also includes factories, inventories, infrastructure, etc.
It turns out that the immense majority of global capital stock is indeed imaginary, and that is the portion which has increased the most for decades now.
@@SacredCASHcow The internet is digital, not imaginary. Behind most of the words in these comments are people, as flesh and blood as you or me.
@@Tomaz-Lanza yes and everything is imaginary if you want to use that line of "reasoning". your identify and your life its all just electrical impulses. Wow what an amazing realization!
@@SacredCASHcow Are you dense on purpose?
I’m GenX, my Grandmother got a college degree in economics bought her family home for 50,000 (bank repo) lived in it for 50 years in California where she sold it for 700,000
You obviously have never heard of inflation. Based on those values it should have sold for $350 000 and would have the same value. The doubling on that to $700k is from land value increases - i.e. stolen from the younger generations.
That’s what’s really ridiculous about house that sold for $100,000 ten years ago is $200,000 today. Why? It’s been lived in that should reduce the value of the home unless money was reinvested to do updates on the house, and those updates should not equal the purchase of the house at $100,000 because the foundation is older and not going to last as long as a new house. Houses should depreciate in value just like a car. Once it’s used and has gain years of aging it should be less valuable.
It's also supply-demand, more people are looking, certainly area's are more desirable and people dying later so less houses become available. I wish my dad was still alive and I live in his house now... otherwise 1 more house needed on the market.
@@angelicfurry301 Outside of renovations, the home hasn’t become more valuable. The currency it’s priced in has become less valuable. Over the last 50 years, the dollar has lost over 80% of its value. This will continue until a total collapse occurs.
People forget the tax that relates to the initial purchase price.
Me in my 20s living with my parents after finishing university with a low paying job and debt that won’t be paid off. I feel so helpless but people like this man will always be appreciated to me. Thank you for your support ❤
Boomers would say "you didn't get a good enough degree". I know people with engineering degrees who can't move out. I know accountants who can't move out.
at least you have parents and a place to live a lot of us are actually helpless
As a gen z I got lucky im about to go to college because of my mom... I'm wanting to go to nasa
@@andrewreynolds912 study hard bro and join every club under the sun so you can have a shot at nasa. They only take the best of the bes
@@andrewreynolds912 I wish you the best !
One of the best TED talks. Thanks for the wonderful insights!
I'm 63, trained for a career in academia only to have practically all teaching jobs wiped out by greed (check out your university to see how much your coach makes), and have had to go into retail. A full 63% of my salary goes directly into paying for rent. Talk about a dystopia.
Damn. Very similar story here. The year I started teaching as a full time assistant professor with a PhD from a well-respected university, I was paid $40K. The new football coach was given $750K. The assistant professorship now pays a whopping $45K. At a state university.
i went to the university of alabama where the football coach who recently retired just bought a 17 million dollar house, started out in the business school where most of my profs made 6 figures, and ended up with an english degree where i was being taught at the 400-level by graduate teaching assistants. i now work in food service 4 years after graduating, and i have about 15k in student debt. i definitely relate to you haha
No judgment but why are you still paying rent at 63?
I'm 68, I'm a nobody/average guy, I never had any "career", never made above 35k, wife a elementary school teacher, owned our home, we raised 2 kids paid through college, helped with their 1st house down payment, and I have net worth in 7 figures. LOWER your standard of living, RAISE your saving and investing starting with a tiny amount of your paycheck. It takes years and years of sustained effort, but it beats the whining I'm reading here. Nobody cares what your neighbor or coworker makes. It's none of your business.
@@reemagee4828 because he needs a place to live. What are you even asking?
In 2009 I bought my house for $100K, 20% down, got a $80K mortgage, Obama gave me $8K for first time home owners. My mortgage payment $900 on a 30 year fixed mortgage.
Fast forward to today (15 years later), my house is fully paid, I paid it off in 15 instead of 30 years, it is now worth $400,000 and if I put it for sale I am 100% sure it will sell within a week most likely over asking price. My neighbor put their for sale at $360,000 and they sold it in 5 days at $380,000
I asked my coworkers how much they pay in rent, almost every single one of them paid over $2,500 per month in rent. For something that will NEVER be theirs.
It is truly sad what’s going on here.
Your lucky you don’t live in my times now..
Life is about choices and sacrifices. You didn’t save 20% by living at or above your income.
Right and if you have younger family members you better hope things change
@@RK-ox2zp change in what way?
@@kenyonbissett3512 True, I did do sacrifices to save up the $20,000 (20%) but nowadays for someone to come up with 20% of a medium home they’ll have to save like $80,000 the prices went incredibly high and wages haven’t really gone that much higher.
I’m not even 30 yet. I’m tired. Extremely tired of stretching every single paycheck and struggling every day. I’ve worked 60+ hours a week for many years and I’m not doing it anymore. It’s gotten me nothing but more stress.
Same here. Homelessness off grid is a better option while going to food pantries and collecting food weekly.
Same. Then the old people will think you’re lazy because you’re unwilling to slave away like that your whole life for shekels..
Your gov and their taxes and printing money
You still got a long way to go. They took my money to pay for every bleeding heart instead of keeping it for my retirement. Instead of thank you we get hated. I will never see all the money I paid in or the benefits thereof. Cry me a river
@mr.mithmoth man this is the most out of touch comment. "have you ever considered owning a home?" lmao, get out of here
This needs to be elevated. Comment so it blows up on the algorithm. Doesn't matter your political leanings, this is just a NEEDED MESSAGE.