https://www.cnbc.com/2022/06/22/jim-cramer-on-why-gen-z-has-no-excuse-for-not-investing-their-money.html
Kramer says, "That younger Americans are going to have to learn to be more frugal."
America starting in the late 50's early 60's forgot how to be frugal. Americans had good paying jobs and money in the bank. Everything was turning up roses for Americans where the future looked nothing but bright. By the 80's those good paying jobs started to go away, giving way to foreign competition and lower wage scales paid in foreign lands.. Yet American adjusted with the wife going to work and then using the credit card to maintain lifestyle. That private national credit card was what was maxed out in 2008. Where American's once again adjusted by switching to a Sovereign debt credit card facilitated by monetary policy.
Now we have nearly maxed out the Sovereign debt card at 31T and monetary policy bank is losing credibilty. Inflation is an adjustment of the true value sic purchasing power of the USD. With wages remaining more or less constant means that the purchasing power sic lifestyle of the American people is now going to hit the skids..
So it is NOT A CHOICE that Americans are going to have to make. They are going to be FORCED to be more frugal. and live within their means..