As a long-time subscriber, I have benefited greatly from your insights over the years and appreciate what you are doing for subscribers. I know there are challenges facing the younger generations, but older generations faced challenges, different ones in some cases, and persevered. A recent article, The Kids are Alright, highlights the success the younger generations have achieved. The site provides research for the "small investor", in some cases the same research accessed by professional investors. The article lead in notes:
"It is an article of faith in public discourse that intergenerational mobility in America has stalled or even gone into reverse. Widely held beliefs include that Gen Z and Millennials struggle in the labor market, are slow to build wealth, and are not on track to do better than their parents. The facts don't line up with this narrative, however. As this edition of The Macroscope shows, Gen Z has not fallen behind but forged ahead of prior generations—both in terms of income and wealth."
This is a very interesting read with conclusions supported by data.
I do believe social media has shaped the expectations of the upcoming generations, but I do believe they are better off than the headlines suggest. I am not saying there aren't challenges, but overall, I believe Gen Z, Millennials, are better off than they even think they are.
David, I appreciate your thoughts on this. I'm familiar with the research you've shared, and I respect its findings. In fact, I've been skeptical of some of the prevailing narratives about how younger generations are doing myself. I think much of what you're saying is accurate, at least from a certain point of view.
But I also believe there's a great deal these studies don't capture, particularly when it comes to people whose struggles aren't easily reflected in economic statistics.
Some of my own thinking changed considerably after spending time volunteering at soup kitchens and food giveaways. Not just helping out, but talking with the people who depend on these services and, perhaps more importantly, those who have been running these organizations for years, sometimes decades.
Their observations about how things have changed, who's showing up, and the growing challenges facing people across different age groups have been eye-opening.
Of course, these are local observations. They're anecdotal, unscientific, and certainly subject to bias. I understand that. But I also think there's something valuable about stepping outside the world of economic research, financial markets, and statistics to see firsthand how people are actually living.
If you haven't done so recently, I'd encourage you to spend some time volunteering at a local outreach organization. Talk with the people seeking help and those providing it. Ask what's changed over the years. I'd genuinely be interested in hearing what you discover.
My own experiences have made me question some assumptions I previously held, particularly about younger generations.
Before volunteering, I was more inclined to believe that many of their problems came down to social media, unrealistic expectations, poor budgeting, a lack of discipline, or simply too much complaining. There's some truth to those explanations in certain circumstances, but I've come to realize how incomplete, and sometimes unfair, that perspective can be.
On a more personal level, these experiences have also changed how I think about my own circumstances. Nearly three years ago, an ATV accident left me paralyzed from the chest down. The daily challenges have been considerable, and there are certainly days when it's difficult not to focus on everything I've lost.
But spending time with people facing hardships of their own has given me some much-needed perspective. It has humbled me in ways that reading another economic study never could.
None of this means the research is wrong. It means the research may not tell us everything we need to know.
And I think that's an important distinction.
Because once you begin seeing these struggles firsthand, it's much harder to dismiss them as simply the consequences of poor choices or unrealistic expectations. You begin asking a different question: What has changed in this country, and what can we do to make things better?
That's a conversation I'd like to see more of, especially among those of us fortunate enough to have the time and resources to help.
One of the very best you've written. You have also inspired others and myself to help those who need it.
the very best to you and your wife.
Gary B
Excellent writing. You expressed our reasons to find freedom and live to the fullest.
I enjoyed the picture of you and your wife at Crater Lake. Got to get out there someday.
Have a great week
CK,
As a long-time subscriber, I have benefited greatly from your insights over the years and appreciate what you are doing for subscribers. I know there are challenges facing the younger generations, but older generations faced challenges, different ones in some cases, and persevered. A recent article, The Kids are Alright, highlights the success the younger generations have achieved. The site provides research for the "small investor", in some cases the same research accessed by professional investors. The article lead in notes:
"It is an article of faith in public discourse that intergenerational mobility in America has stalled or even gone into reverse. Widely held beliefs include that Gen Z and Millennials struggle in the labor market, are slow to build wealth, and are not on track to do better than their parents. The facts don't line up with this narrative, however. As this edition of The Macroscope shows, Gen Z has not fallen behind but forged ahead of prior generations—both in terms of income and wealth."
This is a very interesting read with conclusions supported by data.
Global Macroeconomics:
https://theideafarm.com/global-marcoeconomics/the-kids-are-alright-the-timeless-angst-over-young-people-and-money/
Full Paper:
https://shockscrisesfalsealarms.com/wp-content/uploads/2026/09/BCG_CME_PW-263-6-221_ON_2026.09.22_Generations.pdf
I do believe social media has shaped the expectations of the upcoming generations, but I do believe they are better off than the headlines suggest. I am not saying there aren't challenges, but overall, I believe Gen Z, Millennials, are better off than they even think they are.
Best regards,
David
David, I appreciate your thoughts on this. I'm familiar with the research you've shared, and I respect its findings. In fact, I've been skeptical of some of the prevailing narratives about how younger generations are doing myself. I think much of what you're saying is accurate, at least from a certain point of view.
But I also believe there's a great deal these studies don't capture, particularly when it comes to people whose struggles aren't easily reflected in economic statistics.
Some of my own thinking changed considerably after spending time volunteering at soup kitchens and food giveaways. Not just helping out, but talking with the people who depend on these services and, perhaps more importantly, those who have been running these organizations for years, sometimes decades.
Their observations about how things have changed, who's showing up, and the growing challenges facing people across different age groups have been eye-opening.
Of course, these are local observations. They're anecdotal, unscientific, and certainly subject to bias. I understand that. But I also think there's something valuable about stepping outside the world of economic research, financial markets, and statistics to see firsthand how people are actually living.
If you haven't done so recently, I'd encourage you to spend some time volunteering at a local outreach organization. Talk with the people seeking help and those providing it. Ask what's changed over the years. I'd genuinely be interested in hearing what you discover.
My own experiences have made me question some assumptions I previously held, particularly about younger generations.
Before volunteering, I was more inclined to believe that many of their problems came down to social media, unrealistic expectations, poor budgeting, a lack of discipline, or simply too much complaining. There's some truth to those explanations in certain circumstances, but I've come to realize how incomplete, and sometimes unfair, that perspective can be.
On a more personal level, these experiences have also changed how I think about my own circumstances. Nearly three years ago, an ATV accident left me paralyzed from the chest down. The daily challenges have been considerable, and there are certainly days when it's difficult not to focus on everything I've lost.
But spending time with people facing hardships of their own has given me some much-needed perspective. It has humbled me in ways that reading another economic study never could.
None of this means the research is wrong. It means the research may not tell us everything we need to know.
And I think that's an important distinction.
Because once you begin seeing these struggles firsthand, it's much harder to dismiss them as simply the consequences of poor choices or unrealistic expectations. You begin asking a different question: What has changed in this country, and what can we do to make things better?
That's a conversation I'd like to see more of, especially among those of us fortunate enough to have the time and resources to help.