Comments by "Jasper Mooren" (@jaspermooren5883) on "Why Gen Z Is So Poor" video.

  1. Yes, being poor is expensive. This is very well known. If you don't have the liquidity to afford stuff, you're forced to cheap out on lots of stuff. If you need a car, you'll have to finance one instead of just buying one, which is way more expensive in the long run. And this is true for tons of things. Just having 10.000 euros/dollars or something equivalent is gonna make your life so much cheaper.
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  2. This video has nothing to do with that quote. The quote is about the subscription model. The idea that subscription based services are on the rise and become more common in a wider range of products. It has nothing to do with being poor. It's about moving from buying films to getting Netflix.
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  3.  @PrairieWolff  then why "you'll be happy", that doesn't make any sense in a feudalism context.
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  4. We'll need a fundamentally different system. In theory automating jobs away is amazing, it just means we can have the same standard of living without having to do the jobs. The problem is that income is currently coupled to work. That has to change, if it won't it will anyway, but in a lot more violent way.
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  5. Inflation is fundamentally not a problem at all. In fact it reduces wealth inequality. It reduces wealth and it reduces debt. The problem is when inflation is one sided. Inflation SHOULD cause wages to increase as well. The problem is that that didn't really happen. If all the prices double, but your income doubles as well, there is no problem at all. The real problem is profit growth. Because the stock market has moved so far in the direction of trading instead of dividend, just making a profit isn't good enough anymore, the company's value must grow and therefore profit must increase. But increasing profit margins is unsustainable in the long run. You have to stagnate wages, you have to introduce evil practises such as planned obsolescence. Maximising profits comes at the cost of the entire economy just for the benefit of a few stockholders. And this is happening en masse in the world. To the point that more or less the only way to make a lot of money today is having a lot of money. That's where the wealth inequality comes from. Inflation is an equalising force, but it only equalises if it actually increases wages adequately. In most of the western world wages need to go up about 100% to be back on track at this point.
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