Bobaloo said:

---

People born in the United States over the last 30 years won the human lottery. Incredibly fortunate relative to any of our ancestors. There are certainly issues to address. The federal government Fs almost everything it touches. The permanent political class must be replaced. How and when that occurs will take some work.

---

Technologically yes, but economically the luckiest humans in history were those in the United States or with strong economic ties to the US whose prime years in the workforce ran from around 1984 until the end of the 20th century. Around 80% of current global wealth stems from actions taken and money/investments made in that time period.

Quote:

---

$42T of new wealth created in last two years. $26T went to top 1% and $16T went to remaining 99%. That's not healthy for society.

---

Another way to look at it is that $26T of that was created by 1% of the population and $16T was created by the other 99%.

Wealth does not just appear out of the ether. It's created by ingenious and productive people.

It's perfectly normal and healthy.

Quote:

---

People born in the United States over the last 30 years won the human lottery.

---

True. And the younger generations have been slowly squandering that fortune over the last few decades.

AggieUSMC said:

---

Quote:

---

$42T of new wealth created in last two years. $26T went to top 1% and $16T went to remaining 99%. That's not healthy for society.

---

Another way to look at it is that $26T of that was created by 1% of the population and $16T was created by the other 99%.

Wealth does not just appear out of the ether. It's created by ingenious and productive people.

It's perfectly normal and healthy.

---

It's a misleading stat in general, given the roots of most of that money go back much further. Most of it is interest and stock value from investments made decades ago.

Pookers said:

---

Bregxit said:

---

GenX are bad guys now?

---

His assessment is correct though I would place the majority of the blame on the boomers. Gen X is too small of a group to have made much of a policy impact (excuding odumba of course)

---

Obama is not one of us despite having Kanye West in his playlist.

He's a Boomer.

Statistically life is still trending generally BETTER every year in the capitalist nations and that is despite often stupid economic policies. Capitalism practiced even remotely ethically is just that productive.

I don't know why these doomsayers always emerge except to eventually extol the false virtues of Marxism in some form or other, the same Marxism that spreads death and repression and failure wherever it is more thoroughly and idealistically implemented.

Control over or authority over wealth ALWAYS has a Pareto distribution in human groups. Even if equal ownership is claimed and carefully enforced, actual authority over its distribution is use very seldom is even in the most dedicated attempts at a socialist utopia. Human beings are simply organized to socially work that way because we ourselves biologically have different abilities, temperaments, and motivations.

The idea that disparity is bad is just wrong. Disparity is bad only if the disparity is abusive or oppressive or is so egregious that the result is destructive social instability. Some disparity is almost necessary as motivation for human betterment. You have to have a state to move away from and towards.

Times can be tough, but it does not follow that dated, backwards, failed two century old naive and poorly informed ideas about organizing social and economic order are a good solution, nor their idiot surreality based virtue signaling intellectual offspring.

I agree with previous poster that says it's an expectations problem with the new generation that has been raised.

For the bulk of Americans even 30-40 years ago, our houses and cars sucked compared to what most people expect today. Most fixes and improvements had to by DIY because few people could afford for other people to do it. I don't think me or my parents ever owned a "new" car until my mid 30's.

I do think college generally has gotten worse AND more expensive, but it's still incredibly doable to put yourself through a vocational degree - pay maybe half along the way and finance the other half with cheap debt you can pay off pretty quickly. There is no excuse to graduate with more than $40k debt and there is no excuse not to pay it off in a few years. It's only a challenge when you also expect to drive $50k cars, take $10k vacations, and eat $100 meals a few times per week.



Today I've built real wealth and I'll be honest - the hardest thing I have to do is try to raise my kids not to just expect it.

Pumpkinhead said:

---

TexAgs91 said:

---

Maybe if we just wait around things will get better

---

from quick googling, A recent study from Coldwell Banker estimated Millenials will inherit $68 trillion from older generations by 2030, quadrupling their current estimated total net worth.

So that may literally be all a lot of them have to do. Whine about how hard they have it until inheriting a bunch of wealth from parents and gramps.

---

Here in California, a lot of people don't get married until they're 40 and then try to squeeze out the one trophy child quickly. This might go slightly later today with IVF.

We have some friends who were 50 and had a 9 y/o daughter. They were thrilled when the husband's mother passed away at age 80 because then at age 50, they could finally get a house.

A lot of folks need to realize that if they want to buy a house at a younger age, they might need to move down the road a bit.

Otherwise, hope they're an only child and their last surviving parent leaves them the house.

A lot of the complaints in this thread about the younger generation are personified in this epic thread from a few months ago on the Automotive Board.

Complete with Tik-Tok videos.

https://texags.com/forums/46/topics/3354774/1#discussion

HollywoodBQ said:

---

A lot of folks need to realize that if they want to buy a house at a younger age, they might need to move down the road a bit.

---

Excellent point here. There's a huge range in the cost of living in the US. High cost areas are heavily driven by progressive government policies, while those "backward" red areas typically have the lowest cost of living. Those progressive policies (high minimum wage, steep environmental restrictions, free to low cost college, anti-business, etc) are driven by young to middle age voters, not the boomers.

The younger generations are getting what they voted for. Sadly there are some in those generations who didn't vote for it, but democracies don't carve out exceptions for the minority vote.

I've got news for them... they ain't seen nothing yet. The full cost of socialism hasn't even begun to register. Just wait til the impact of climate change hoax policies kick in... and a "living wage"... and universal income... and free college across the country... and free health care... and "reparations."

And if you have enough grit to work past those challenges, earn a decent income, and gradually produce wealth, your peers will come after you to "tax the rich" because you're obviously not paying your fair share.

Buckle up buttercup, stormy seas ahead.

True capitalism under the table thrives even within a communist system. It's for all practical purposes the only thing that makes sense on any scale in an otherwise senseless arrangement . It's all about human nature imo

Subjectively current teenagers to late 20's have it much better than my Gen X.

1. College debt - many gen x did not got to college or went to community/trade thus less debt
2. Jobs - much better now than the 80's. Work from home did not exist back then.
3. Transport - Entry level now is luxury in the 80's
4. Free time - I know of many 20's still playing video games all the time.
5. Travel - 20's now have gone to way more places than my generation.

So please someone tell me what the Gen X 20-30 yr old in the 80's had that was so much better than the current 20-30's?

life is so much easier, better right now and what some can latch on is why it is so difficult to buy a home? You can buy a home outside of the city. Too much college debt - work during college or go to jr college/trade school.

Medaggie said:

---

Subjectively current teenagers to late 20's have it much better than my Gen X.

1. College debt - many gen x did not got to college or went to community/trade thus less debt
2. Jobs - much better now than the 80's. Work from home did not exist back then.
3. Transport - Entry level now is luxury in the 80's
4. Free time - I know of many 20's still playing video games all the time.
5. Travel - 20's now have gone to way more places than my generation.

So please someone tell me what the Gen X 20-30 yr old in the 80's had that was so much better than the current 20-30's?

life is so much easier, better right now and what some can latch on is why it is so difficult to buy a home? You can buy a home outside of the city. Too much college debt - work during college or go to jr college/trade school.

---

While I agree with much of this, I am the oldest of genx and was 24 in 1990.

Dan Scott said:

---

The current course we're on is terrible and will end badly if something doesn't change. Birth rates all over the West are down. New housing in US show in the last 2 years, boomer generation bought more houses than any other group. Home prices are up and % of houses bought with cash at all-time highs.

$42T of new wealth created in last two years. $26T went to top 1% and $16T went to remaining 99%. That's not healthy for society.

The under 40 crowd has been effed over and over and they will be leading this country in the next 20 years. Those under 40 graduated into the worst job market in many years and around the time they start to build a decent savings, COVId and home prices and mortgages aren't affordable. If you're under 40 and are successful more likely than not I bet parents helped out a lot. If you're successful under 40 and didn't have parents help then you are an effing beast.

There is so much resentment young people have towards older people that when this group of young people gets older and gets leadership roles they will punish the older generation as much as they can. I think a bigger death tax is definitely coming. More redistribution is coming.

---

Planned obsolescence.
That is all

"Inside Apocalyptic worldview of Dan Scott - Dan Scott TexAgs Posting Style".

Any level of self awareness here where you started this thread, and then helped do an assist with the fear porn created by the NYT about Tucker?

You are the Tucker Carlson of TexAgs as you so ironically post an article demonizing him.

Imitation is the ultimate compliment I suppose.

Dan Scott said:

---

The current course we're on is terrible and will end badly if something doesn't change. Birth rates all over the West are down. New housing in US show in the last 2 years, boomer generation bought more houses than any other group. Home prices are up and % of houses bought with cash at all-time highs.

$42T of new wealth created in last two years. $26T went to top 1% and $16T went to remaining 99%. That's not healthy for society.

The under 40 crowd has been effed over and over and they will be leading this country in the next 20 years. Those under 40 graduated into the worst job market in many years and around the time they start to build a decent savings, COVId and home prices and mortgages aren't affordable. If you're under 40 and are successful more likely than not I bet parents helped out a lot. If you're successful under 40 and didn't have parents help then you are an effing beast.

There is so much resentment young people have towards older people that when this group of young people gets older and gets leadership roles they will punish the older generation as much as they can. I think a bigger death tax is definitely coming. More redistribution is coming.

---

Under 40.

No parent help.

Started in the oilfield at 16 working for Buffalo Leasing out of Buffalo Texas.

Hired out for Nabors at 18, was drilling at 21, pushing tools at 23, and consulting at 26.

Laid off at 31. Parked all my cash into cashflowing real estate.

Now manage +~ 20 million dollars in real estate.

I've got a GED and a few hours at Blinn.

The world is a playground for the blue collar workers still willing to put in long hours, stay off the sauce, and willing to take risk when others are afraid to.

Life's not perfect, but if you stay curious, think positive, study those that are more successful than you, and do the ****ing work, anything is possible in America.

Stuff is so silly. There has never been a more comfortable time to be alive. Will it all crash? Keep predicting it and you may be right once before you die

Kansas Kid said:

---

Keller6Ag91 said:

---

revvie said:

---

Trickle down economics never really worked and never will.

---

Wrong. Tax Revenues were at highs following Reagan tax cuts. It was Cold War spending and Dem controlled Congress horse trading that forced more deficit spending. But we forced Russia communism to fall.

---

Don't forget the first person who did these style tax cuts wasn't Reagan. It was JFK who proposed the bill and LBJ that signed it.

https://en.m.wikipedia.org/wiki/Revenue_Act_of_1964

---

Yep. And JFK was right there then as well.

Medaggie said:

---

Subjectively current teenagers to late 20's have it much better than my Gen X.

1. College debt - many gen x did not got to college or went to community/trade thus less debt

***That's a plus for Gen X. There is a recent push to shift the mentality that trade school is a great path.

2. Jobs - much better now than the 80's. Work from home did not exist back then.

*****Really depends what part of the age spectrum you are in Gen X. Some had oil boom and bust market. Most got hit by Great Recession when they were in "move up" timeframe of their career.

3. Transport - Entry level now is luxury in the 80's

******Ya. It's called technology, Einstein. You can say that statement about every generation in recorded history.


4. Free time - I know of many 20's still playing video games all the time.

******Not the biggest game here, but there has been Dungeon and Dragons/inside kids since modern America. Screen time/gaming is certainly an issue but back to technology point from above it's just like any other innovation in the technological age and social/society constructs have to moderate it and set boundaries.

This is a tech innovation that has changed society. Would you really argue for a second that your great (potentially great great) grand father wasn't thinking the same thing with your parents and you/siblings huddled around the TV. And y'all glued to MTV???!!


5. Travel - 20's now have gone to way more places than my generation.

*****Duh. As the exponential increase in technology continues, you'd think that would improve travel. Working to get it more efficient, cheaper, and faster. Globalization was a major theme of the 1990s so it would make sense you'd see this as an outcome that came over the next 30 years. Globalization was (one of the few) positive by products of Boomer leadership, certainly not Gen Xs. You are seeing that contract now obviously.

So please someone tell me what the Gen X 20-30 yr old in the 80's had that was so much better than the current 20-30's?

life is so much easier, better right now and what some can latch on is why it is so difficult to buy a home? You can buy a home outside of the city. Too much college debt - work during college or go to jr college/trade school.

*****I don't think Millenials have any beef with y'all Gen Xers. It all started with the boomers. They love to talk about the silent and greatest generation like it was them and then they turned the rudder due East right into a storm. Except we keep culturally deteriorating at an exponential rate. Starting with riding out the cycle post WWII and has been downhill ever since.

---

I'm under 40 and own my own small business with absolutely zero help from my parents. A year after I opened, once I got things up and running they wanted to invest and I happily obliged them.

My grandad was the son of a sharecropper and one of 11 kids. He lived through the dust bowl and the Great Depression and worked his way up to GM at a plant in Borger, TX.

Hard work and sacrifice are still core values that are taught to some under 40's. Unfortunately, most under 40's are lazy, entitled, and blame all of their problems on other people.

Every generation has their issues that must be overcome to be successful. Millennials are no special generation with unjust obstacles that can not be overcome.

I tell my kids to look around. Half will complain and do nothing. 25% will try but not give the effort. The other 25% is who you are competing against. So either chose complaining or do something about it b/c the playing field is not going to change.

Kids in the tech generation have it way better b/c everything that is done saves time vs pre tech days of the Gen X.

Getting fast food in the past required calling/picking it up. Now, go on the phone and food comes to you saving you 1 hr.

Road trips requires a smart phone and it gets you there in the fastest route. In the past, you opened a map and took whichever road makes sense.

The current generations use the extra time wasting it on facebook, tick tock, instagram, etc. That is their problem, their free time is wasted on mindless social media and complaining why life is so hard.

If they use that time on constructive endeavors, they will be ahead of the 75% social media zombies.

JohnLA762 said:

---

Dan Scott said:

---

The current course we're on is terrible and will end badly if something doesn't change. Birth rates all over the West are down. New housing in US show in the last 2 years, boomer generation bought more houses than any other group. Home prices are up and % of houses bought with cash at all-time highs.

$42T of new wealth created in last two years. $26T went to top 1% and $16T went to remaining 99%. That's not healthy for society.

The under 40 crowd has been effed over and over and they will be leading this country in the next 20 years. Those under 40 graduated into the worst job market in many years and around the time they start to build a decent savings, COVId and home prices and mortgages aren't affordable. If you're under 40 and are successful more likely than not I bet parents helped out a lot. If you're successful under 40 and didn't have parents help then you are an effing beast.

There is so much resentment young people have towards older people that when this group of young people gets older and gets leadership roles they will punish the older generation as much as they can. I think a bigger death tax is definitely coming. More redistribution is coming.

---

This is total BS. The under 40 crowd has had some of the best opportunities to excel in life. It's all about seeking out and taking those opportunities.

Life is what YOU make of it. At the end of the day, if you are not happy where you are in life you need to either look in the mirror and/or quit comparing yourself to others. PERIOD!

well said.

My favorite quote ever by Louis L'Amour:
"Up to a point a person's life is shaped by environment, heredity, and changes in the world about them. Then there comes a time when it lies within their grasp to shape the clay of their life into the sort of thing they wish it to be. Only the weak blame parents, their race, their times, lack of good fortune or the quirks of fate. Everyone has the power to say, "This I am today. That I shall be tomorrow."

---

theeyetest said:

---

I'm under 40 and own my own small business with absolutely zero help from my parents. A year after I opened, once I got things up and running they wanted to invest and I happily obliged them.

My grandad was the son of a sharecropper and one of 11 kids. He lived through the dust bowl and the Great Depression and worked his way up to GM at a plant in Borger, TX.

Hard work and sacrifice are still core values that are taught to some under 40's. Unfortunately, most under 40's are lazy, entitled, and blame all of their problems on other people.

---

I've been to Borger! CP Chem plant there makes a weird plastic that has properties of metal. Even sounds like metal if you drop it on the floor.

https://en.wikipedia.org/wiki/Polyphenylene_sulfide

They called it "ryton".

Not much else to see in Borger back in 2008, though.

texagbeliever said:

---

Your premise is wrong. The west is not capitalist anymore.

---

My first thought.

The problems mentioned in the OP aren't from capitalism. It's from those who hinder or manipulate it.

Boomers really can't talk much about financial entitlement, that's for sure. Buying a house for them was a completely different purchase than it is for the generations that followed them, it's not even comparable.

You're correct... they were paying 18% interest on mortgages or business loans. So not the same at all.

Starting salaries were 10X or more lower, my first house was at 16+%. I LOL when hear folks say interest rates are at historical highs, please.

Starter homes back then were starter homes. 2-3 bedroom with carpet, low ceilings, formica counter,

Now starter homes need granite throughout, recessed lights, vaulted ceilings, master shower with tub, Cat 5 connections throughout, wood floors, two garage, game room, neighborhood pool/amenities walking distance from restaurants/shops.

My parents '80s home would never fly right now

I will admit I am/will be as much to blame for the "I want it now next gen". When we travel, I like convenience and my kids do not know what a beach vacation is without it being in the back yard or ski without being ski in/out.

Dan Scott said:

---

The current course we're on is terrible and will end badly if something doesn't change. Birth rates all over the West are down. New housing in US show in the last 2 years, boomer generation bought more houses than any other group. Home prices are up and % of houses bought with cash at all-time highs.

$42T of new wealth created in last two years. $26T went to top 1% and $16T went to remaining 99%. That's not healthy for society.

The under 40 crowd has been effed over and over and they will be leading this country in the next 20 years. Those under 40 graduated into the worst job market in many years and around the time they start to build a decent savings, COVId and home prices and mortgages aren't affordable. If you're under 40 and are successful more likely than not I bet parents helped out a lot. If you're successful under 40 and didn't have parents help then you are an effing beast.

There is so much resentment young people have towards older people that when this group of young people gets older and gets leadership roles they will punish the older generation as much as they can. I think a bigger death tax is definitely coming. More redistribution is coming.

---

Sounds like we need to be ready to redistribute our stocked ammo through the air when the time comes.

Rodney Ruxin said:

---

Boomers really can't talk much about financial entitlement, that's for sure. Buying a house for them was a completely different purchase than it is for the generations that followed them, it's not even comparable.

---

That's BS. Bought my first home at 32 for a family of five with a 7% interest rate. It was 1200 square feet. I didn't have the money to pay for closing costs, so I took out a VA loan that I earned from serving my country for four years, coupled with a $2k loan from my 401k that I paid back over ten years because I had to allocate every limited dime I made to raise my three kids.

Keep whining about how bad you have it compared to prior generations. I didn't whine for a minute -- just figured out the path to success and got it done.

I don't know about the last part but the first part is true.

It's been a struggle and right when it was breaking free Covid threw a hard wrench in it. I'm mad as hell about that.

We're good but damnit it's been a war every step. I just figure that's life tho

So in 20 you will be the new old people, you're going to punish yourselves?

Crony capitalism is the problem.

At the government level and at the private sector level.

Governments squander huge sums of money that could be better managed. They hire and reward their pals. And so do mid sized and big business corporations, not to mention yet the silly DEI and ESG crap.

None of us are rowing in the same direction spiritually or culturally and it is reflected in all aspects which is poisoning a great capitalistic and classically liberal system and country.