Inflation and Gen Z Failure to Launch

[Music] [Applause] yeah coming from the black community gerbert Johnson yeah yeah yeah I gave a hickey to a gamer girl I'm the Markiplier every single day I live up to my heart's desires I was born on 911 I could still see the Sparks and fires you got some money Finance cars and bought designer I got some money saved it up for harder times we are not the same I'm eating chicken wangs I'm about to fly a plane into the Empire State Building I'm taking another children gby yo really not messing with me on this rap [ __ ] bro so you're in for a good I don't know like 20 minutes of yapping that's what I do on this channel so get ready baby I just got to sometimes sometimes Daddy just got to get something off his chest you feel me and hopefully people can relate to it or whatever you know growing up entering your late teens early 20s starting to pay taxes starting to you know get insurance do adult [ __ ] it's always a it's always been a stressful time right it's always you know it can feel like like things are collapsing on you like uh like everything's very important like you have no time um and I'm sure this is a a Timeless Universal feeling but right now I find it kind of hard to discern what things I'm feeling that are that are Timeless and what are time specific because I've just been getting this feeling like the the the window of of social mobility in this country and I I suppose in the western world as a whole the window to actually own things create uh longlasting stability in your life is just closing rapidly um it seems like older people from the perspective of older people it's very easy to look down at this generation and say they're quite lazy they're entitled I don't blame them for this opinion uh we all are a product of our circumstance but contrary to popular belief this generation goes to college more graduates more and works more they're more likely to be full-time employed than previous generations so in light of this this this criticism of younger people from our elders doesn't really hold up and in spite of this there's still this idea of young people not being able to grow up of them um failing to launch because what are the metrics of adulthood well it's a complete Financial independence from your parents which less than half of people under 30 say they have it's owning a house it's starting a family it's General stability you know because youth is all about kind of figuring things out exploring it's a bit more chaotic whereas adulthood you reach this routine you reach this schedule you you build these foundations that you you know you live off of for the rest of your life and it seems like in light of recent changes young people uh well younger Generations can be kind of indefinitely stuck in a in a childish phase at least according to our standards so the problem is i' I've been convinced that most people don't understand especially older people because of what they grew up with the the actual difference in purchasing power between then and now so there's there's inflation and inflation it's kind of a corny thing oh the inflation but at a certain point it's not even like a a casual cutesy little thing to talk about anymore it gets pretty [ __ ] real you know groceries and food that's one thing um groceries can cost more or less depending on where you are anyway ways it's very you know the groceries and food thing can be eye openening because you can compare receipts from like you know it's very inyour face because you buy these things so often but if it was just that that's not a big deal you know wages increase inflation also increases they're not equal um many people find the official inflation rate to be questionable but even then the way it's measured is kind of tricky because it's year over year so the last three years I don't know the exact numbers it was something like 8 8% 9% now it's back down to a more normal 3% 2 or 3% the the average is you know like 3 and a half% per year but you see the 3% increase compounds on top of all the the other increases so the actual dollar amounts you're paying you know they steadily rise despite the uh inflation dropping and wages wages can't really keep up now if it was just the if it was just Commodities that's one thing when you start getting into cars when you start getting into insurance when you start getting into especially housing and rinse this is where things are completely different today I would argue it's not even in it's not even comparable what young people are facing and what people even 20 years ago were facing um people are like oh that's why I'm voting red well maybe you could argue it would get marginally better depending on in office but the fundamental problem is of course that our entire monetary system is Fiat and debt based and this allows for some real [ __ ] to occur um but but first of all when it comes to housing the inflation is going to matter a lot more of course when you apply it to the level of hundreds of thousands of dollars secondly there's the ACT ual Market the real estate market which because people aren't forming families and because of immigration can get a little saturated and finally the real the real killer the real messed up part about the housing market is of course investors and when I say investors I'm not really talking about like normal you know wealthy people who were able to buy a couple rental properties there are some of them what I'm really talking about are massive corporations asset management companies they're called you I'm sure you've heard of them Black Rock State Street Vanguard they're the largest ones they're all really one thing if you look into how they're all shared uh the last the final quarter the fourth quarter of last year 2023 26% of affordable houses were purchased by investors you get this is from red fin this was a story on a lot of different sources so you can look those numbers up that's a record high that's never happened before now yeah it's at this point where you when you begin to understand it it's a different Planet older people looking down at younger people why aren't they moving out you have no you have no [ __ ] idea what's going on here this is like dystopian [ __ ] these investment homes are a lot a lot of time empty they're vacant keep in mind this doesn't just impact the housing market or people looking to buy but also people looking to rent or live any you know people looking to move out anywhere that's not their with their parents or relatives rentree um and you could you could easily see how this this messes the market up for regular people especially young people who never got any time to build momentum this is how I'm feeling now as a young person it's like this massive monopolization almost just these these AMC's coming in and sweeping buying everything up in opportun in in very uh particularly suspiciously opportune moments this this this wasn't around um really in my my parents time the Black Rock and these kind of things started in the 80s but they really started making moves after' 08 the subprime mortgage crisis and uh they they struck hard again postco now we're really seeing it now we're really seeing it this didn't exist this didn't exist in the 70s I know there were some other problems but the way I see it and you could tell me if I'm wrong if you just as a boomer you if you just went to college and especially if you were even remotely strategic about the degree you choose you chose and you and you got a job you you could put it down on a house with low interest rates it's a real skill issue if you [ __ ] it up back then now it's like the cards are stacked against you to a crazy degree you do the math you graduate college you make about 26 an hour you live in a normal American city you add together rent insurance Transportation groceries it doesn't even make sense how it works so most people are living paycheck to paycheck most people are getting in debt even with roommates it gets precarious so it's pretty it's pretty jacked up and uh this massive monopolization of of the houses these these people able to get the funding required able to do all of this this kind of thing is not possible without strategic use of debt and without Fiat don't get it twisted when when we talk about young people not being able to afford houses and this stuff is basic but you know it's a little bit novel to someone like me a young person just starting to realize you know the steps and everything nobody nobody's just buying houses even Boomers for the most part Didn't Do It um young people not being able to buy houses means they're not being they're not able to afford the down payment and the other qualifications to get a loan from the bank to enter into a 30-year Mor morgage contract wherein you pay it depends but it's usually 1 it's usually less than 1 of the price of the home in order to get this contract and then you pay 30 years worth of compound interest to the bank and the way this was launched the 30-year mortgage is also very suspicious very not good good um and the way it's become like normal and institutional it's loone sharking but it's just a part of that that's our system is debt-based it's still a better idea than renting which is basically well it depends on the interest rate whether it's a better idea than renting interest rates are higher than they've ever been so and also when when the FED wants to reel in inflation the interest rates rise so it's a lose lose situation um for young people now in the system what was I just talking about um it's still a better idea than renting which is basically just paying someone else's debt if you can enter a 30-year mortgage but yeah and there's also a a real shortage of what's called starter homes just like little quaint little houses that young people can buy and start it and you know they they haven't been built for like 20 years so you look at it and you know old people might have points you know young people are addicted to Media some of them can seem quite entitled um maybe they're ordering door Dash too much whatever and and granted the increased participation in in working is driven a lot by young women so there's a contingent of young men that are kind of just dropping out it's not a huge thing but it's statistically significant I guess you could say um but when you really look into what's going on and the mechanisms of debt it's very easy to get demoralized I could see how you could just come to the conclusion well you know I'm with my parents I'm just going to chill I'm going to play Elden ring who who cares I'm not doing that uh but I could very easily see how you could come to that conclusion uh and I'm I'm I don't know I don't know if I'm just feeling this if I'm just making stuff up if it's just a a part of what it's like to be this age starting to transition to adulthood but I really um I feel like it's all closing in you know I hear stories of of older people like I didn't know what I was doing in my 20s I kind of stumbled through and by the time I was 30 I I figured it out and uh I got a good career and I finally have a house now I don't know if young people today are going to have that same option record high interest rates record high amounts of massive corporations purchases in all the property inflation compounding and compounding and you know the wages increase depending on what sector you're in but the no matter what they're not they're not keeping up few young people are able to Shield themselves from this reality if you have Rich parents if which that's going away you know there's like a whole Boomer retirement crisis at a certain point the kids have to support the parents um there's you know some some young people some paths you could take at a bachelor level that will get you six figures or close close to six figures you could work your way up the the uh the tech the finance these are also kind of going away the uh there's a whole AI thing but a lot of these are just jobs just got laid off um there's Elite over production all these all these people are getting these degrees so it's becoming saturated Etc and third there are there are some young people who found a way to make money online a lot of these things are just like pseudo scams or scams though it's like reposting slop content or some horeshit like Drop Shipping or uh actual scams marketing tactics for high ticket sales like [ __ ] like that it's not it's annoying all of it's annoying um but it's there so I don't know it's just easy to uh to get blackpilled I don't know how I'm going to be able to to afford a home if you're just going to rent forever you have no way of really Building Wealth and uh make no mistake it's it's it's ultimately because of uh debt-based Fiat when they give you this loan in which you pay 30 years of compound interest you don't just they don't go down into the Vault and count little Jewels it just [ __ ] comes out of nowhere then you the what you end up paying an interest can easily be like you're basically buying a whole another house over those years and yeah they've they've never been higher the rates and also if you go into uh the different contributors of Black Rock the banks are all are all in there it's it's like one big thing it's one giant machine that you you almost have to participate in you have to get in debt to to even play the game um they hold something like 90% the SNP firm so if you want to invest if you want to get a Roth IRA they contribute to a lot of the 401ks and companies so it's just all there and it's the same people buying it's the same people mon you know maybe maybe it's just a maybe I'm just uh freaking out cuz that's what it's that's what it's like to be a young man turning into adult maybe this is timeless I don't know I don't know if it's a drill but uh it might not be 26% might not be a drill banking dynasties may have monopolized money itself now I'll end it with some white pills I guess the window's closing it's still there I mean I don't know what it's like for people born after 2008 you're basically I don't know what not everybody's going to start a business not everybody can just go online and make a bunch of mnny the this these are all red pill like marketing tactics most people just have to work a job and that job should be enough to buy a home but it's not and when it's and when that's not happening you're basically you know a slave is hyperbole you're a surf it's like uh it's like surf Dum when you work to rent but you don't actually own anything that you're a peasant even a lot of medieval peasants owned land you're like the lowest of what would be considered you're a surf in a medieval in a feudal system the strategy should be different the idea that that people are going to have kids now and these kids are all going to get their careers and all go buy their house that's done for a lot of history and in other parts of the world they have multi-generational households and I think that's what should happen you know a silver lining in in some of this is that it might make people abandon their sort of rugged individualism families you know close friends could combine resources in order to actually have something so there was one more thing give me a second at this point it's like dude why even contribute to a Roth IRA what's anything going to be worth in 40 years when um I'm able to withdraw from it but I don't know I I guess that's the point you know it's it uh works against the inflation yeah you get the you get the compound interest to work for you but that's that's how these things are allowed to happen compound interest over time is is extremely powerful and if you're able to loan out this money without really having to give it out give it out of your pocket that's that's the whole mechanism you go into the the mechanisms of debt it's like a whole I don't say this literally it's like black magic it's like crazy how deep it goes uh yeah I guess another thing is perspective you know it's easy to complain about things today it's still one of the better times to be alive for sure you compare it to the L to you know some the 50s 60s up to the the early 2010s it's like um yeah but before that you have world wars you have famines you have the depressions all of this so still a good time still a good time and this is one of those things where like I really want to be proved wrong so if anybody knows what I'm talking about I've read um books like creature from Jackal Island confessions of an economic Hitman things like this I've also read rebuttal to them debunks um second T cake on the Jacksonian Bank War I think it's called and uh I just find the debunks of these things to be to fall uh regrettably they fall short they fall very short um this is one of those things where I I really just want to be told I'm wrong about uh about Central Banking and the Federal Reserve cuz that's kind of like the real problem here in my eyes so uh but maybe I'm just an impressible impressionable young man I've fallen into the wrong pits maybe everything's fine right and I'm just a young guy I uh you know I get a little stressed cuz that's what the time is I'm becoming an adult but hey I'd like to hear you know I'd like to hear people's thoughts to uh educate me maybe if I'm dreadfully wrong I even if I'm wrong I'm still that's the good ending for me so please please tell me for the love of God please tell me I'm wrong