Many young adults are planning their lives based on out-of-date opinions. Perhaps they believe that conditions are now the same as they were when their parents were young. Or they may be following obsolete advice from older adults, such as high school counselors who are dispensing opinions that once were valid, but are no longer.
Charles Hugh Smith is a writer I respect, and he has just written an article I wish I could get every young person to read. Here’s just one tidbit:
If you want to escape Minimum Wage Debt-Serfdom, start by developing skills that create value by solving problems and increasing productivity, which is another way of saying doing more with less.
Please read the whole article and refer it every young person you know.
Here’s another paragraph that describes the problem:
Let’s start with the sobering reality that the Millennial generation faces economic challenges that are unique to this era: sky-high student loan debt, soaring costs for basics such as rent and healthcare, a stagnant neofeudal crony-cartel economy and an intellectually bankrupt status quo in thrall to failed ideologies: Keynesian Cargo Cult central banking, outdated models of capital and labor and an unthinking worship of debt-funded centralization as the “solution” to all social and economic ills.