MSNBC Morning Joe guest

[joelbc1]

I agree.

But there isn't a home for him in our two shit stain parties. He says stuff that pisses off the powers that be in both parties.

I find myself agreeing with most of what he says when I see him.

I'd vote for him in a heartbeat as well...he gets it.

So is it the ‘boomers fault, capitalism’s fault or (new every) “the 2 Party politics” fault?

Something is wrong, I agree. The demise of the middle class is a key ingredient and that was an unintentional offshoot Reagan tax reform, supply-side economics and NAFTA.

Tax policy has been directed as benefitting the wealthy and rich in this nation for decades, Income disparity is a huge factor today’s wealth crisis. Politicians cannot afford to effectively address this issue. In order to solve this problem, there has to be a Robin Hood out there…and no one who is willing to rob the rich and give to the poor has much of a future in today’s America.

 

[TC Nole OX]

Full video

Young people have every reason to be enraged, says 'Algebra of Wealth' author Scott Galloway

 

[jonesy5960]

I don't think he's entirely wrong, probably mostly right.

But as long as I'm wealthy enough to keep my kids above that fold it's all good! right?

Interesting dynamic that's setting up that has gained the attention of advertisers and marketing professionals. Boomers are the wealthiest generation in history and have way more spending power than previous generations at this advanced age. Their kids and grandkids however are struggling in many ways with things like housing affordability. The American dream might be fading away.

 

[TC Nole OX]

Galloway calls for tripling the minimum wage

 

[tarheelbybirth]

Holy crap I mostly agree with you. If people in their 30's are trying to compare themselves to people in their 60's then that's just ridiculous. As you said, the younger generation needs to see there is a light at the end of the tunnel but I feel there's too many distraction. The younger people are seeing these youtube kids making tons of money, they now see college athletes making tons of money. They're seeing some of the younger generation making lots of money and they want to make it too. In my day, the only way to make money was to actually get a job and work, and so that's what we did. Even college athletes went to college to get a degree (except for some colleges). Now these kids are going to college to make money, they don't care about their degree. It's pretty obvious when they're now switching schools every year. How do you get a degree doing that. I could go on with the impact of Facebook as well. The kids are being fed a load of crap from all different areas.

LOL...when my father was in his early 30's, he was married, already had four kids on their way to six total, and had a four-bedroom brick house that they bought for $12K. That house sold for over half a million a few years ago. When I was in my 30's I had two kids and a 3-bedroom house we bought for $112,000. It's now worth over $350,000. Both of us had college degrees and zero college debt. Hell, I graduated from high school with people who took their diplomas, went downtown, and went to work for RJR making enough money to start a life. Those jobs don't even exist anymore. That you think all students in college are athletes chasing the dollars is idiotic. They're trying to follow the same paths we did and it's not working.

 

[l.todd]

Galloway calls for tripling the minimum wage

View embedded media

That whole interview was fantastic. He is a very shrewd observer not just of economics and business, but of the sociology of young people. I made my 25 yo daughter and 24 yo son listen to that on a 90 minute car ride and it absolutely had an effect on them.

 

[joelbc1]

I believe he was on Maher’s show this last week, too. The guy is scary brilliant/intuitive as to what is going on in America and understanding its taxes……
I think he is on to something…..NOT that taxes are too high, it’s that they dont tax what needs to be taxed. Again…..bank robbers rob banks because that is where the money is!

 

[SB_SB]

LOL...when my father was in his early 30's, he was married, already had four kids on their way to six total, and had a four-bedroom brick house that they bought for $12K. That house sold for over half a million a few years ago. When I was in my 30's I had two kids and a 3-bedroom house we bought for $112,000. It's now worth over $350,000. Both of us had college degrees and zero college debt. Hell, I graduated from high school with people who took their diplomas, went downtown, and went to work for RJR making enough money to start a life. Those jobs don't even exist anymore. That you think all students in college are athletes chasing the dollars is idiotic. They're trying to follow the same paths we did and it's not working.

So you had to pay 10 times more than your father did for a house. Did you complain how you were being ripped off because your father got such a cheap house and you had to pay 10 times more for a smaller house? Now your house is only 3 times more than what you paid for it. Do you think salaries are 3 times more than what you were paid when first starting out. I'm 61 and when I started working after college I was paid $22,000. I have a niece who graduated with my same degree and her first job was more than 3 times my starting salary. After four years of working she's making about $120,000 and has already purchased a house for around $350,000. If she was married and had dual income she's being doing really well.

 

[Colonoscopy]

Yeah I've caught his stuff. Not bad.

He's basically talking about the atomization of American social life. (And it's diliterious effect on relationships) And then the ridiculous issue with housing. Besides that young people do well.

(But those issues loom large)

 

[tarheelbybirth]

So you had to pay 10 times more than your father did for a house. Did you complain how you were being ripped off because your father got such a cheap house and you had to pay 10 times more for a smaller house? Now your house is only 3 times more than what you paid for it. Do you think salaries are 3 times more than what you were paid when first starting out. I'm 61 and when I started working after college I was paid $22,000. I have a niece who graduated with my same degree and her first job was more than 3 times my starting salary. After four years of working she's making about $120,000 and has already purchased a house for around $350,000. If she was married and had dual income she's being doing really well.

It would be difficult for someone to more completely miss the point. Give it a shot…see how much worse you can do on a second attempt.

 

[TC Nole OX]

I believe he was on Maher’s show this last week, too.

Overtime: Scott Galloway, Don Lemon | Real Time with Bill Maher (HBO)




6 months ago

Overtime: Andrew Cuomo, Scott Galloway, Melissa DeRosa | Real Time with Bill Maher (HBO)

 

[SA_Hawk]

We need to get the oligarchs' control over government stopped if we ever really want to put the power of government back into the hands of the people. Unfortunately recent SCOTUS decisions have only broadened the power of the extremely wealthy and they seem determined to keep it. How do we reverse that?

Drain the DC swamp gravy train and reduce the size of the federal government by 40%.

 

[SB_SB]

It would be difficult for someone to more completely miss the point. Give it a shot…see how much worse you can do on a second attempt.

I guess I'm too stupid, point it out.

 

[goldmom]

As a student of history there was a time when a housing shortage caused issues among those wanting to buy a home and start a family.
William Levitt saw this and built Levittown on Long Island in the early 50’s outside NYC. A simple 3/1 with a one car garage. (Those homes are highly coveted today and are renovated beyond recognition)
Others followed his lead and there was an explosion in the supply of homes built around the country - bought by WWII vets with VA loans. They were smaller homes sometimes a 2/1 but it let young men move out of their parents homes in the closer in urban areas. The “Birth of the Burbs”. The San Fernando Valley in Cali is another example. Grew from farmland into housing for the postwar population boom.
It’s where Boomers grew up. My own parents started in a garage apartment when I was a baby and moved to a 2/1 house “way out” where their house payment was $40 a month. They added a third bedroom and three more kids. Eventually we moved to a 4/2 and the house payment was $138, but by then Mom owned a hair salon and Daddy had moved up in the phone company.
They were like millions of American families in the 50’s and 60’s. Not rich but “making it”. One car, one TV, and often one income. No expensive vacations, no homes full of “gadgets”. No quartz countertops OMG!
The difference now is something that my parents would just shake their heads at. And younger couples today can’t imagine a simpler life like the one their parents grew up with.

 

[Hans81]

Per yahoo finance 10 % of Americans own 93% of stocks, try again

I don’t believe that stat. Are you just talking individual co stocks? There are a lot more than 10% of Americans that have 401K’s with mutual funds, etc.

 

[goldmom]

I don’t believe that stat. Are you just talking individual co stocks? There are a lot more than 10% of Americans that have 401K’s with mutual funds, etc.

Correct.

 

[tarheelbybirth]

I guess I'm too stupid, point it out.

The growth in cost of housing has exceeded wage growth for decades. Just over the past 15 years, home prices have risen 75% while wages have only grown about 55%. Higher education costs have exceeded the growth in housing. Those are facts.

You just completely ignored the point about previous high school graduates being able to walk into factories and find good middle-class jobs. Likewise, you ignored the point about graduating from college with zero debt versus being saddled with tens of thousands of dollars in debt attending the same schools as your father and grandfather did.

What that means is that today's college graduates are facing a far higher disconnect between the money they make and the cost of a home. They are also carrying debt that previous generations did not. The story of your niece doesn't change that.

Does that help?

 

[SB_SB]

The growth in cost of housing has exceeded wage growth for decades. Just over the past 15 years, home prices have risen 75% while wages have only grown about 55%. Higher education costs have exceeded the growth in housing. Those are facts.

You just completely ignored the point about previous high school graduates being able to walk into factories and find good middle-class jobs. Likewise, you ignored the point about graduating from college with zero debt versus being saddled with tens of thousands of dollars in debt attending the same schools as your father and grandfather did.

What that means is that today's college graduates are facing a far higher disconnect between the money they make and the cost of a home. They are also carrying debt that previous generations did not. The story of your niece doesn't change that.

Does that help?

Let me help you out. Life is evolving and changing. You didn't live the same life your father did, and your father didn't live the same life his father did. Your kids didn't live the same life you did. That's what happens with when something evolved, there are good things and there are bad things. Throughout history the amount of education required has increased. Are you really that surprised with that? Sorry but people graduating high school are not going to find the same jobs as people 30 years ago. How can you expect that to continue, you think life just stays the same? Factories have changed with technology.

If you want to make it today, you have to evolve as well. My niece's story does have relevance in this situation. She didn't have the money so she went to the community college for two years and then went to Iowa. She shared a cheap apartment and ended up with very little loans. If she can do it, I think others can too. Sorry but you might not be able to attend the same school as your father or grandfather, you're not living during their time.

My mom had to piss in a pot during winter because she didn't want to go out in the cold to the outhouse. I grew up with 1 bathroom for the family when I was a kid. My kids grew up where they each had their own bathroom. Life has changed and so you have to take the good with the bad.

 

[tarheelbybirth]

Sorry but you might not be able to attend the same school as your father or grandfather, you're not living during their time.

Let me help you out...you just found the point and didn't even notice it. You might not be able to have the family your father or grandfather did. You might not be able to afford a house like your father or grandfather did. You might not be able to have the career your father or grandfather did. You might not have the options your father or grandfather did. You're not living in their time.

Congratulations.

 

[SB_SB]

Let me help you out...you just found the point and didn't even notice it. You might not be able to have the family your father or grandfather did. You might not be able to afford a house like your father or grandfather did. You might not be able to have the career your father or grandfather did. You might not have the options your father or grandfather did. You're not living in their time.

Congratulations.

That's not really a point, it's life, things change and some changes are good and some are bad. I didn't know your were trying to be Captain Obvious.

 

[ottumwan in tx]

this guy just spouts off a bunch of crap and never says anything

 

[tarheelbybirth]

If there's are younger people in their 30's pissed that they don't have much money, well, join the club. You don't just graduate from college and become wealthy and there's no guarantees.

That's not really a point, it's life, things change and some changes are good and some are bad. I didn't know your were trying to be Captain Obvious.

It, apparently, wasn't at all obvious to you in your op. The entire point is...read carefully here...they can't join the club. Why? You said it yourself...finally...they're not living in the same time. Things have changed. Lower expectations are being imposed on them by forces outside of their control. And if you dispute that, then your claim that times have changed it bullshit. You can't have it both ways.

 

[SB_SB]

It, apparently, wasn't at all obvious to you in your op. The entire point is...read carefully here...they can't join the club. Why? You said it yourself...finally...they're not living in the same time. Things have changed. Lower expectations are being imposed on them by forces outside of their control. And if you dispute that, then your claim that times have changed it bullshit. You can't have it both ways.

You're the one who can't have it both ways. You want all the new technology of today but you want to get it at 30 years ago pricing and with a high school degree. If you want to join a club, you can join my mom's club and you can piss in a pot or go outside in the freezing cold.

 

[tarheelbybirth]

You're the one who can't have it both ways. You want all the new technology of today but you want to get it at 30 years ago pricing and with a high school degree. If you want to join a club, you can join my mom's club and you can piss in a pot or go outside in the freezing cold.

 

[joelbc1]

The growth in cost of housing has exceeded wage growth for decades. Just over the past 15 years, home prices have risen 75% while wages have only grown about 55%. Higher education costs have exceeded the growth in housing. Those are facts.

You just completely ignored the point about previous high school graduates being able to walk into factories and find good middle-class jobs. Likewise, you ignored the point about graduating from college with zero debt versus being saddled with tens of thousands of dollars in debt attending the same schools as your father and grandfather did.

What that means is that today's college graduates are facing a far higher disconnect between the money they make and the cost of a home. They are also carrying debt that previous generations did not. The story of your niece doesn't change that.

Does that help?

Bingo! The loss of American manufacturing jobs in the 70’s and 80’s and beyond is seldom considered. Bill Clinton won his Presidency when he told those New Englanders that the jobs they were losing were gone forever….Americans can handle the truth. The trouble now is “the truth” is being distorted by fake news and relayed to the public by unreliable sources.
What has occurred in the past 40 years (think “supply side economics” and 3 major tax cuts) is the imbalance of wealth that has been allowed to occur in America. This inequality of wealth will tear apart America…..the rich keep getting richer and the poor keep going deeper in debt. More than half of Americans have NO CHANCE to participate in the American dream. This has to change.

 

[TonyTheTiger.1865]

I don’t believe that stat. Are you just talking individual co stocks? There are a lot more than 10% of Americans that have 401K’s with mutual funds, etc.

JFC read my post, OWN.

 

[TC Nole OX]

How the US Is Destroying Young People’s Future | Scott Galloway | TED

 

[TC Nole OX]

Scott Galloway Describes the Tough Future Facing Gen Z | WSJ

 

[Colonoscopy]

Scott Galloway Describes the Tough Future Facing Gen Z | WSJ

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He's right on housing. But salaries and spending power are fine otherwise.

I don't know if I buy his arguments as much about education. I suppose you could argue certain elite institutions gatekeep, but basically everybody interested in an education in college is going to get one. Not much holding you back there. You could complain about cost at some institutions. Again.. this is avoidable if you shop around.

A lot of the other troubles he's pointing at pertaining to young people coming up in this world have to do with technology and its contribution to our social fragmentation. We're not socializing like we used to and so we're not developing like we used to. I don't think that sort of thing is easy to blame on anyone or any one generation. That's the world changing (mainly a result of technology) and unintended consequences.

Turn back the clock on housing and socialization and I think gen Z, (some) millennials, etc start to look a lot like the generations before.

 

[Bank of Hawk]

Raising taxes is not a sign of economic progress or some magic pill to help younger folks out

 

[tarheelbybirth]

He's right on housing. But salaries and spending power are fine otherwise.

I don't know if I buy his arguments as much about education. I suppose you could argue certain elite institutions gatekeep, but basically everybody interested in an education in college is going to get one. Not much holding you back there. You could complain about cost at some institutions. Again.. this is avoidable if you shop around.

A lot of the other troubles he's pointing at pertaining to young people coming up in this world have to do with technology and its contribution to our social fragmentation. We're not socializing like we used to and so we're not developing like we used to. I don't think that sort of thing is easy to blame on anyone or any one generation. That's the world changing (mainly a result of technology) and unintended consequences.

Turn back the clock on housing and socialization and I think gen Z, (some) millennials, etc start to look a lot like the generations before.

Gen Z will be on the front lines of climate change and their kids will be deep in the mix - and Gen Z will know that. What's happening at the southern border now will look like a trickle in 2050 and beyond. The costs of extreme weather events like storms and droughts and floods will keep rising. Wildfires will be...an issue. They'll be dealing with the effects of crop failures across the planet. Meanwhile, the wealthy will continue to separate themselves from everyone else and stoke the divisions that keep us from doing anything about it. Neither Gen Z nor any of the generations that follow have much reason to be hopeful about their futures. That sets them apart.