Jim Cramer, the host of CNBC’s “Mad Money” and Investing Club, thinks that while Gen Z faces financial challenges, many of its members also spend too much money on stuff they don’t need.
Nearly half of adults belonging to Generation Z – who are currently ages 18 to 24 – say they live paycheck to paycheck, according to a recent Deloitte survey.
Cramer says the younger customers at the New York restaurant he owns spend money “as if it grew on a tree.” He’s seen countless young professionals buying round after round of $14 margaritas after a workday, despite hearing their complaints about student loans or not having enough money to put aside for retirement. See Jim Cramer’s remarks in the video below.
“People always say, ‘I have nothing to invest, so I can’t invest.’ I hear that from people in their 20s all the time,” says Cramer. But if you have a few bucks to spend going out, then you have money to invest, Cramer argues.
“I know you might say, ‘Oh, Cramer’s rich; I don’t want to hear his lecture.’ But did you live in your car on the side of Interstate 5?” Cramer asks, referring to the period in his early 20s when he lived out of his car and still invested in the stock market.
Is this grandfatherly Boomer advice from Cramer, good advice?
Yes in principle, but it won’t be nearly as effective for Gen Zers as it was for Boomers – something Cramer failed to address. What has worked in the past for Boomers may not work for Gen Z in the future. Consider the following that has been occurring for decades.
- Not only is Gen Z spending money “as if it grew on a tree,” but so are the government and the Fed – to the point where it will be hard for new coming generations to have any hope of success.
- Corporate America is not “real” capitalism anymore. Instead, they are mere financial vehicles using the government to swallow up markets, making many traditional “mom and pop” companies difficult to thrive.
- The Boomer generation elites have offshored their jobs to China and other third-world countries.
- The corruptive nature (though perhaps technically legal) of our economy has turned many government and business sectors into nothing more than corporate mafias.
- Endless wars have enabled the military-industrial complex (and now security and the surveillance state) to spend our futures into oblivion.
- Global leaders have created an endless stream of crises (e.g., Covid) to ensure their control and wealth accumulation.
You may say, “no, this is nonsense.” Take a look at the chart below (learn more here) how each successive generation continues to decline in wealth accumulation. Is this because each successive generation drinks more and more margaritas? Or is it not the economic structure of our supposed free-market system that has evolved to enable this phenomenon and its associated statistics.
So guess what? Gen Zers subconsciously know that the game is over. They will never achieve the success that Boomers have had. The elite Boomer 1%ers have rigged the economic system to be that way. Now, many of our youth are listening to nefarious politicians that are baiting them with socialism, even communism, as the way out.
The squeezing of the youth generational opportunities is getting worse at a quickening pace. A new system will have to come. Many Gen Zers know that there is no sense in investing in the old. It is almost as if there is a global Great Reset underway.
Jim, take a look at the following video and ask yourself – is there a next generation?
Dallas women TWERKING for abortions. WTF
“Shakin dat a** so we can kill our babies, proud to be a hoe and not to be a ladies” pic.twitter.com/tyTCEbDXhr
— ELIJAH SCHAFFER (@ElijahSchaffer) June 25, 2022
Jim Cramer is part of the Boomer elite 1%ers. Do you ever hear him speak of these issues in a serious way? After all, he has a large mainstream media megaphone. You won’t. If he does, he will be canceled, like a few others that have tried. Who knows, maybe he is even in on it – giving virtue-signaling lectures – laughing at Gen Zers all the way to the bank.
Is it no wonder many Gen Zers spend as if it is “the last day of their lives?” Another margarita anyone?
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