Comments by "Xiphoid Process" (@xiphoid2011) on "Why America Is Becoming Increasingly Anticapitalist" video.

One of the biggest reason most young today doesn't know just how badly the anti-capitalist system failed. When I was growing up in the 80s, the USSR was still around, so anything up to millennials skill kind of remember seeing just how socialism sucked and failed spectacularly. We grew up knowing that while capitalism has flaws, elites, problems, but it at least works. Now we have younger generations who never knew that, only seen the flaws of capitalism, now day dreaming about those far worse and failed systems.
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@calebbliss8626 I agree, he should have used median household income instead to demonstrate the point. Using MEDIAN means it's the income of the 50th percentile, the most mediocre of the people, removing both the 1% and the super poor. But the result would also prove his point though, showing today's Americans are richer than ever before.
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Housing in the US is still among the cheapest in the entire world, especially far cheaper than in Asia. Yet Asians in Asia making far less money are saving 30-40% of the income. We joke about how bad Americans are with money, and coming to America and see it's true is really kind of shocking. In Asia, when someone only make $1000 a month, he/she will share an one bedroom apartment with 3 other people, eat instant noodles, not buy anything, and always save some money each month. I notice this kind of life style adjustment doesn't really happen in the US, not sharing a room, not stop eating out, just charge it on credit cards... Even more shocking is seeing how people say "I'm broke" openly and almost proudly, when it would be too shameful to speak of in Asia. Yeah, this is one of those culture shock.
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you are raging against a system that works better than everything else. Socialism and Communism have failed even more spectacularly, leaving capitalism the only system that actually works. The grass is actually greener on this side.
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@wyle2614 cost of living while is up, but when you adjust income for inflation, today's income is still the highest it has been after accounting for inflation. I really think it's the spending pattern of the typical young has changed. Far more easy to spend money on the phone on every thing, unlike previous generations that has to go to the store to shop. Americans need to learn financial literally.
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Add couple more example of American financial habits that shocks us Asians. (1) bad/unrealistic advice from teachers and parents to "follow your heart/passion" Please don't choose what to study using your heart. Choose a degree that pays well and you don't hate, most common a STEM degree. (2) taking out more student loans than that job pays in a year. So $80K total for an engineering degree that pays $100k/yr is good. $50k for a social study degree that pays $30k/yr is bad.
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@LucasFernandez-fk8se that's actually not true. Housing in Asian is something like 30x to 40x annual income, so not even prodigious saving asians can afford it anymore. But this is also why we think American housing Is so amazingly cheap. This is why I was so happy with American housing prices. Mt wife and I bought a house right after finishing graduate school, have 3 children, we even bought another house for my in-law. For frugal asian immigrants, American housing are just so affordable.
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@parkyercarcass I'm sorry, you are smoking something. Oh yeah, North Korea is poor totally not because they fallowed a Stalinist and Maoist model. Same for Cambodia. I came from China, and chinas was poor not because of the US but because the stupid Mao ZeDong's rule that led to tens of millions of deaths. Funny how when Deng XiaoPing abandoned communism, china suddently started to get rich. Yeah, even in the Chinese people know communism and socialism are failed systems.
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@cedricdellafaille1361 Same in Asia, 30-40 years of salary to buy a house. Of course that's why Asian housing is unaffordable even for extremely frugal and prodigious savers, so whole family of relatives put their savings together to help the newly wed buy his home, with the expectation that he will do the same when another is getting married.
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