Gen Z's Grim Economic Prospects

Young adults face unprecedented economic challenges, making the American Dream feel unattainable. Rising costs of essentials like housing, education, and transportation, coupled with stagnant wages, create financial strain. This situation fosters anxiety and fuels risky behaviors, like substance abuse and get-rich-quick schemes. A significant cause is currency devaluation due to government spending and Federal Reserve actions. This began with money printing tied to pandemic stimulus, leading to inflation and decreased purchasing power. This impacts markets and cities, contributing to increasing unaffordability and deteriorating conditions, especially for young people starting careers. The author critiques current economic policy, which supports low interest rates and unsustainable debt practices. He emphasizes the need to stop money printing to combat inflation and suggests Gen Z adjust their spending habits to regain control. Frugality must be adopted, prioritizing zero debt over immediate gratification to build a secure future. He highlights the role of class anxieties influenced by social media in driving excessive spending and reliance on exploitative financial services. The article concludes that personal actions and a shift in priorities are key to overcoming these unprecedented economic hardships.