2y ago

Gen Zers are turning to ‘radical rest,’ delusional thinking, and self-indulgence as they struggle to cope with late-stage capitalism

finance.yahoo.com

20 comments

The goal posts have finally gotten high enough that most folks starting out likely won't make past the starting position.. And when things look that bleak, the only winning move is to not play the game. It's shocking that the ones who write these articles are so out of touch with the world as it is now for those just entering adulthood with little to nothing given to the appears.
I'm completely unable to purchase property with a mortgage, and it's not a lack of supply, it's a lack of owners willing to deal with mortgage holder as opposed to someone who just has cash. I've increased my offers to 30% over asking, higher down-payments, waiving inspections.. I doesn't matter.
Increasingly popular with Gen Z audiences, manifestation content has also spread rapidly on platforms like TikTok and Instagram—the latest iteration of the “law of attraction” that promotes the use of “positive frequencies” and “delusional thinking” to attract wealth and prosperity into one’s life. Rather than claw their way up the corporate ladder or surreptitiously stash away money for the future, practices like project 129 and the 3-6-3 method emphasize positive thinking and visualization to achieve personal and financial goals.
Yeah, no, that was big when I was young too, and when my mother was young, and when my grandparents were young it was called prayer, and so on.
- Yeah the author lists these things unironically like we didn't grow up with daily horoscopes in the newspaper, and TV psychics, and church.
  Young people turn to magical thinking disguised as scientific practice because they're still young and haven't experienced every type of predatory pseudoscience yet. What's the excuse for the older generations who are completely immersed in and even promote this kind of con?
A recent study by Fidelity Investments found that 45% of people aged 18 to 35 “don’t see a point in saving until things return to normal.” In that same age group, 55% said they put retirement planning on hold during the pandemic.
Who are all these 18-35 people who have retirement plans? Where did they poll these people from?
- I mean, I'm one of them. There is a pretty significant number of 25-35 years old professionals who start banking into retirement almost immediately.
  
  How significant?
- My retirement plan is "die when I can't afford to be cozy".
- Pretty much everyone I went to college with, though I won't pretend that's a representative sample at all due to the college in question.
  Still, there's a lot of tech and finance workers out there.
a time of global societal uncertainty
Oh yeah, I remember those halcyon days when we didn't have global uncertainty.
I accept that gen z may be struggling more than those before them. But breathless articles like this make it seem like it was all unicorn farts and rainbows in the past.
It's wild seeing a finance column mention late stage capitalism let alone headline it

20 comments