

Do you often interact with young people?
I mean, I have a toddler, just for starters. Also, a bunch of nieces and nephews and friends with kids of various ages. Then I do some of the professional onboarding for interns and college new hires at my company.
So, Idk, for some definition of “young people”, yes.
For there to be no disposable income these corporations are somehow making money hand over fist at every level of commerce.
The big winners of the post-COVID economy have been B2B companies - enterprise level software firms, data center firms, government contractors, and corporate supply chain companies. Your grocery store chains and big box retailers have been comparatively flat. Car companies have underperformed. Even real estate has been anemic, at least by comparison.
To call this a consumer economy, you really have to point to the consumer end of the equation and show some kind of growth. Inflation might be rising, but retail consumption certainly hasn’t.


















I don’t want to play the “who had it harder?” game, because that’s always just a war of the sob stories. But COVID is competing with Vietnam enlistment and lead/asbestos poisoning, when it comes to generational intellectual speedbumps. Nevermind the sheer dearth of educational establishments prior to the Boomer-Era buildout of high school and college campuses. I lived through the era when everyone and their kid brother was being diagnosed with a learning disability. And when weed was supposed to obliterated cognition in young people. And when video games were rotting brains. And when Cliff’s Notes was destroying academia. There’s always something.
I see so many “My 16-year-old is a drooling idiot” hysterical denouncements of modern education. And it’s all couched in this insufferable nostolgia for a past that never existed. Long-form Op-Ed articles about how not wearing a bike helmet built character or why Montessori School turned our kids queer. Screaming tirades about the poor quality of STEM and the insidious nature of liberal arts education, combined with jerk-off sessions over Classical Education and the endless need for Teaching The Controversy and in-class debates.
Fucking awful people pushing bullshit lines that get gobbled up by whatever audience is being told “You’re the smart ones, every other generation else is worthless trash”.
That’s. Not. Actually. True.
Fewer people have access to consumer credit today. A select subset have access to higher debt limits in an inflationary economy. And most of that debt is housing debt, not retail consumer debt, anyway.
The $18.2 trillion isn’t distributed equitably. It’s also overstated, given that a bunch of it is bad medical and housing debt that debt-holders refuse to write down.