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 ...
Yeah, it may well be Cramer’s version of the WEF’s “You will own nothing and you will be happy”. But being frugal, especially in challenging times, is almost the opposite of that.
And Old Farts love to blow a little hot air at the young, whether across the dinner table or in the larger world.
I grew up during the Carter admin. Started working when Reagan was president so I saw both extremes.
I use those lessons to teach my kids.
So were you saving in crypto or the stock market?
“Damn boy, back in my day...”
Try telling that to the federal government which has put over $30,000,000,000,000 on the tab.
stock market
My condolences.
The Gen Zers in his NYC restaurants don’t own or drive cars.
Where'd it go?
For wine, women, and song? And the rest you just wasted?
Regards,
A lot of them are probably ‘rich kids’, too.
I wish I had spent it on coke and hookers. I watched it trickle away from the stock market for my 65th birthday.
Cramer is wrong so many times, it’s a wonder anyone listens to him at all.
Many are simply from the middle class and used to dining relatively extravagantly with their parents—on their parents’ card.
Try this one on for size: Bear Stearns is Fine! Tues, 3/11/08
Yeah, hang on to that money that’s losing 8.5% a year.
Well, let them learn their lesson.
I just dislike very rich people judging how others spend their money.
It’s hard not to chafe at anything this loudmouth says.
That’s great news! Thanks for sharing.
Lets say two $14 drinks and an order of $20 chicken enchiladas at his restaurant, Bar San Miguel, tax and tip. That’ll run right at $60. Then there’s the taxi/uber ride and another tip.
I picked the enchiladas since we had enchiladas tonight though with chili (saving the leftover chicken for mu shu chicken and homemade wraps tomorrow, yum) which came in about $1.75 per serving and non-alcohol beverage.
Bottom line, Cramer and broken clocks... We’ll soon be paying for their filed bankruptcies along with their college loans.
The guy misses the mark more often then he hits.
You would be better off putting up a chart and having a pet monkey throw his poo at it then invest on what is still legible.
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