Posted on 06/23/2022 12:30:23 PM PDT by nickcarraway
CNBC financial analyst Jim Cramer thinks Gen Z millennials are spending too much on discretionary items and not putting enough aside for investments despite economic challenges that has many young adults living paycheck to paycheck.
“They seem like they have a lot of money, even when they don’t have a lot of money,” Cramer said of those between the ages of 18 and 24.
Cramer said that youngsters who frequent the restaurant that he owns in New York City often order $14 margaritas “as if [money] grew on a tree.”
(Excerpt) Read more at nypost.com ...
My advice to Gen Z: Don’t listen to a word that comes out of the mouth of Cramer or the talking heads on CNBC, Fox Business or Bloomberg. Educate yourselves on economics and finance independently of any college or university. Learn to think critically.
Cramer is a silly shill. But in this particular case, for this particular audience, he’s probably on target.
“Son, if you don’t stop smoking those doobies, you’re going to end up like me: eating government cheese and living in a van down by the river!”
I understand what Cramer is trying to say. But I think the bottomline is that this country has been thoroughly messed up over a period of decades. I feel very bad for young people. Yes, plenty of them seem like woke little jerks. But they’re getting a raw deal. I feel fortunate to have grown up under Reagan.
I have no more words , stupid is as stupid does.
That might mean self-control and deferred gratification.
The horror to the entitlement mentality millennial generation.
Ever notice that when a conservative is in office, the media message is: People are hurting!
When a Dem is in office: lower your expectations.
Too much consuming going on out dere
But he’s right in this case.
I was frugal, saved $1000 per month for almost 10 years. It all disappeared since January 2022.
Maybe to a degree. My problem with his saying 'Learn to Be More Frugal', is it presumes that he knows better. This type of leftist thinking when carried to extremes leads to bureaucrats in state capitols and Washington DC that think they know better and make decisions for individuals.
I have two daughters, ages 25 & 27. For most of their lives I gave them guidance through my actions and dinner time conversations. I also gave them the opportunity to make bad decisions. Fortunately because of the former there have been fewer of the latter. But they are all learning experiences. It's best to make mistakes when you are young, learn from those mistakes, and have a lifetime to recover.
Young people between 18 and 24 should be looking at jobs in the trades or other areas until they know what they want to do.
My son graduated HS and didn’t know what he wanted to do, so he started working. He’s now 21, saved up money, and decided that he wants to be a nurse. We told him he was free to stay at home until he finishes his nursing training at the local trade school here (he’ll be an RN after 2+ years).
His employer is hating to see him leave because he’s responsible, shows up on time, works hard and doesn’t complain. I think these attributes are what youngsters today need to do.
I would say this is a great idea if the Gen Z snowflakes were able to see how socialism is bad for everybody.
But given the corrupt status of our educational system the majority of Gen Z are incapable of discerning the difference between free markets and government mandated socialism.
Exactly
Living in their parents basement with free eats, utilities, laundry, not paying their student loans, etc., they should have loads of money for investment.
I doubt that many young people who are worried about gas prices are buying $14 Margaritas or eating in his restaurant at all.
(And maybe Cramer himself doesn’t need a 65 acre estate in NJ AND a Summer house on Long Island.)
My daughter is about to graduate nursing school. 6 weeks out she already has accepted a job with a $10K signing bonus.
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