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Scott Galloway: How the US is destroying young people's future [video]

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Re: Scott Galloway: How the US is destroying young people's future [video]

#41

Post by cjbgkagh »

nyokodo wrote: post #31
jmclnx wrote: post #3

He is right, but the young can change things. The sad fact is they do not vote, and if they vote at all it is only in presidential. Even in those elections well less then 50% vote. They are a big voting block, if they all start voting, including in local elections, in about 10 years you will see change. But seems people these days want instant change. 2024 will be a big tell for the young, depending on who wins, thin…

> the young can change things It depends on who you’re calling young and which country you’re talking about. Millennials in the US will be the largest eligible voting block for the next 30 years at least, and maybe longer if they don’t have kids at a greater rate. Gen Z [edit: typo] is the smallest generation as a percentage of the total in US history so they’ll be out voted by older voters for the rest of their live…

I thought Millennials and Gen Y were the same? Did you mean to say Gen Z?

Re: Scott Galloway: How the US is destroying young people's future [video]

#42

Post by lamp987 »

jmclnx wrote: post #3

He is right, but the young can change things. The sad fact is they do not vote, and if they vote at all it is only in presidential. Even in those elections well less then 50% vote. They are a big voting block, if they all start voting, including in local elections, in about 10 years you will see change. But seems people these days want instant change. 2024 will be a big tell for the young, depending on who wins, thin…

There is no voting solution to this.

Re: Scott Galloway: How the US is destroying young people's future [video]

#43

Post by janalsncm »

deadbabe wrote: post #23

Is there any large country that has not utterly destroyed their young people’s future?

It would be a bit reductive to say all countries are the same. For example infant mortality, the United States is nowhere close to the best.

Checking other metrics Scott Galloway mentioned, it’s not surprising they are all highly correlated.

Re: Scott Galloway: How the US is destroying young people's future [video]

#44

Post by obsoletehippo »

ryanchoi51 wrote: post #8

The social contract of working hard and being able to own a home or start a family has been broken. This is especially true in Canada, where the government seems to be doing everything in its power to erase the middle class.

Want to give any evidence of your Boogeyman Trudeau's efforts to punish the middle class?

Re: Scott Galloway: How the US is destroying young people's future [video]

#45

Post by nyokodo »

cjbgkagh wrote: post #41
nyokodo wrote: post #31

Earlier quoted context omitted.

> the young can change things It depends on who you’re calling young and which country you’re talking about. Millennials in the US will be the largest eligible voting block for the next 30 years at least, and maybe longer if they don’t have kids at a greater rate. Gen Z [edit: typo] is the smallest generation as a percentage of the total in US history so they’ll be out voted by older voters for the rest of their live…

I thought Millennials and Gen Y were the same? Did you mean to say Gen Z?

Yes I did, edited, thank you.

Re: Scott Galloway: How the US is destroying young people's future [video]

#46

Post by rayiner »

dubcee349 wrote: post #12
nox101 wrote: post #5

Earlier quoted context omitted.

doesn't this assume they all vote as single block? if their vote is diverse then it won't make much difference

Younger voters tend to blue. Approximately half (53%) of young Americans indicate they will "definitely be voting" in the 2024 general election for president. Young Americans' interest in voting in 2024 is now on par with Harvard Youth Poll data from 2020, which indicated that 54% would likely vote. If the presidential election were held today, President Biden would outperform former President Trump among both regist…

Those numbers show that while the half of young people who are likely voters favor democrats, the other half of young people who don’t plan to vote must be split evenly between Biden and Trump. (For the overall average to be 45% Biden, the half that doesn’t plan to vote must be under 40% Biden to 37% Trump, with a large share probably supporting RFK Jr.)

That seems to support OP’s point. If you got that other half of young people to vote, they’d have very little effect on the election because they’re evenly split. Neither party has any reason to try and turn out those young voters.

Re: Scott Galloway: How the US is destroying young people's future [video]

#47

Post by VS1999 »

jonathankoren wrote: post #7
siliconc0w wrote: post #6

I find it interesting to think you can socially engineer a society. It's such a unfathomable complex system that most the time, I imagine we're probably only 'right' by accident. Like one of scott's prescriptions is higher taxes - sure maybe that could be good if paired with wiser government spending but realistically that may just get poured into unproductive subsidies, regulations, or healthcare and military-comple…

You know, your proposals are also engineering society. It’s just a society of the 1800s and before. It sucked. It sucked for the vast majority of people. Life may still suck, but it sucked a lot worse then. To be completely clear here. When you say, “ accept this will lead to wealth inequality but maybe a benevolent billionaire class will be more likely to 'fix' society more than our 'elected' representatives can.” Y…

Do you use twitter? The rhetoric in this post has the exact cadence of someone who spends a lot of time on social media.

Re: Scott Galloway: How the US is destroying young people's future [video]

#48

Post by tsujamin »

coretx wrote: post #18
andrewstuart wrote: post #4

Australia too.

With a "little" bit of help from China.

Looking forward to learning how a sub 1% rate of foreign property purchases is really the problem in Australia

https://www.afr.com/politics/federal/overseas-investors-are-... https://foreigninvestment.gov.au/sites/foreigninvestment.gov...

Re: Scott Galloway: How the US is destroying young people's future [video]

#49

Post by wakawaka28 »

ruined wrote: post #35
deadbabe wrote: post #23

Is there any large country that has not utterly destroyed their young people’s future?

global ocean temperature has broken records every single day for more than a year running now

What does that have to do with anything?

Re: Scott Galloway: How the US is destroying young people's future [video]

#50

Post by gregwebs »

This is correct on the symptoms (it's harder to make a living now) but still missing a full understanding of the causes.

Much of this comes down to debt. After the GFC, US government debt went from 60% of GDP to 100%. After the pandemic it shot up and settled at 120%. [1]

Countries don't function well with this level of debt. Inflation is a way of dealing with debt without explicitly raising taxes. But it's the most regressive possible way of taxing people.

If we talk about loving our children- non-functional government debt is simply stealing from them- our children have to pay it back. That's 25 trillion of public debt. The debt to revenue ratio is almost 7- that's 7 years we want our children to work to pay for the things we are doing now. [2]

Debt is useful when it creates more value long-term than was otherwise possible. However, much of our government spending produces less than one useful dollar of value for every dollar spent. The most obvious being the trillions of dollars spent on most of the recent wars. I am not a libertarian- choosing between big or small government is still a mistaken line of thinking. The government should be doing things for us, but doing them well (productively, a dollar in produces more than a dollar of value). If they can't do them well then its probably better to do less until they can figure out how to do them well again.

[1] https://fred.stlouisfed.org/series/GFDEGDQ188S

[2] https://en.wikipedia.org/wiki/National_debt_of_the_United_St...

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