Decline in teen drug use continues, surprising experts

World's smallest violin plays.

[1] https://www.ft.com/content/de36eb98-f28d-4594-9ae6-624d25802...

A fast food job might be $17/hr, but the cost of gas is >2x what it was when that same job paid $8/hr, not to mention other basic costs like groceries, rent, and buckle up if you have to go to the doctor. Pay has simply not kept up with the cost of living for most Americans.

Why would anyone be happy that everything is ephemeral? That implies a lack of stability, more anxiety about the future, less confidence that you can weather bad times.

Humans are tactile creatures, everything being digital leads to a counter-intuitive sense of isolation - more connected, but less personal. There are positives too, but as an older Millennial, it has been interesting to be along for the ride as the potential of the internet and social media went from a superpower, to kryptonite. Who knows where things will be in 5-10 years, but it's hard not to see how some of our greatest tools are being turned against us in the search for more profit.

Millennials are, if anything, brutally realistic - a trait required to navigate the last 16 years. We were forced to watch as the last bit of life in the idea of a strong middle class was snuffed out, and had to enter the workforce right as the GFC hit. Our parents were the last generation where one could reasonably expect to live a life that truly lived up to the ideal of the American Dream - that one could get educated, get a job, buy a decent house and raise a family, without it being especially noteworthy to do so. For many Millennials, if not every generation following, it is essentially nothing more than a dream at this point. Corporate greed, and a government fully captured by it, has all but killed the middle class, and I fully expect that the advent of AI - rather than being a boon for the middle class - will drive a nail in its coffin. Those with the most to gain are already on top, and I've already heard way more people here talk about what they'll be able to do without needing to hire anyone, than I have about how the people left jobless will benefit. It is readily apparent that nobody with any power is going to do anything about it before a significant amount of suffering is felt - maybe not even then. All you have to do is listen to how people talk about it, as if everyone will magically figure out something else to do when every sector starts losing jobs simultaneously. Our society has a greater chance of eating itself alive first.

I consider myself lucky amongst most Millennials - I entered the workforce before the GFC, then joined the military shortly after it (not due to the GFC, but the timing worked out). I was able to get far enough along in my career in those first years though that I never had to struggle with finding a job like many did. I was able to get a house in my 30s thanks to the GI bill. Very few of those I grew up with are in the same boat, many are living much the same as they were 15 years ago - unable to save enough to buy a house, facing reduced job prospects in the future. What reason do they have to be anything _but_ pessimistic?

For me personally, I think we've simply lost the battle against greed, and there is a tipping point after which reigning it back in is impossible without burning it all down. That's something nobody should want, least of all the rich, but it's played out many times in history, and we keep falling into the same trap, just different ways. I think this time it probably was Citizens United where we lost our grip, that decision made it inevitable that corporate interests would be the driving force of government, not the needs of its people. Who can say for sure what will happen, but we're all along for the ride regardless.

What do you see as the prevailing narrative? The one I see is homeownership itself, which suggests that homeownership has been seen as being hotly desirable. I strongly suspect we wouldn't have a homeownership narrative to speak of if ownership was unwanted. When something becomes unusually desirable like homeownership has, it is not unexpected to see an uptick in participation around it; in this case owning a home. Much of the urban age has been marked with the majority of the population being renters. Everyone wanting to own a home with such furor is historically unusual.

I expect homeownership has become so desirable as it has become seen as a way to build wealth. While, historically, housing only kept pace with inflation at best, real home values have risen by unfathomable amounts in the last decade or two. Which, again, attracts people willing to risk it all for a chance at some of that wealth opportunity. It would be unusual if said generational group had comparatively lower ownership rates given the "FOMO" aspect. People run away when prices are falling, not when they are rising.

Given the market we've watched, the extraordinary claim would be that Gen-Z has lower ownership rates compared to previous generations at the same age.