GenZ is unprecedentedly rich \ stacker news ~charts_and

In 2019 prices and adjusted for household sizes source economist

Not sure I would call this rich. Their expenses have gone up along with their income and desirable assets have gone up even more.

50 sats \ 1 reply \ @Undisciplined 16 May

That's right. Most people say inflation is understated. If that's true, then you'd get a graph like this, even if there were no gains in prosperity.

21 sats \ 0 replies \ @grayruby 16 May

Maybe even loss in prosperity when you consider gen z's biggest expenses would be housing and education.

14 sats \ 1 reply \ @count_chocula 1 May

no cap their net worth has rizz, straight bussin moggin the mewin streak

10 sats \ 0 replies \ @030a29f333 2 May

I hate how accurate this sentence is

10 sats \ 0 replies \ @Satosora 1 May

Yeah, Millennials kind of got teh short end of the stick. They will catch up eventually though. Gen Z wont have any too many blue collar workers, so society will change quite a bit.

3 sats \ 3 replies \ @riberet19 1 May

Is this adjusted for inflation?

10 sats \ 2 replies \ @zuspotirko OP 1 May

Yes, it's in constant 2019 prices

10 sats \ 0 replies \ @02bcd3eeb0 2 May

It's not really though, is it. The inflation numbers they used are bullshit, so the chart is bullshit, so conclusions based on the chart are bullshit.

0 sats \ 0 replies \ @Bell_curve 2 May

Pre COVID

I wonder how much things have changed for the worse for generation Z

0 sats \ 0 replies \ @PRA3S3NT1A 2 May

You couldn't get it more wrong..

0 sats \ 0 replies \ @Bell_curve 2 May

Too early to tell in the long run

I read the terrible article associated with this chart in the past it’s prime economist.

Why do they get student loan cancellation if they are so rich?

0 sats \ 0 replies \ @MadBudha 1 May

It doesn't matter if rent and housing has increased multiples of their dollar earnings

0 sats \ 0 replies \ @TwoLargePizzas 1 May

Even if this was telling us something useful which I don't believe it is, a heck of a lot has changed since 2019.

Are we somehow forgetting we had C19 in 2020, the government printed 25% of all money in existence, inflation skyrocketed then interest rates went up faster than any other time in history.

The point is, the last 5 years really really matter. Looking at a chart from 2019 isn't very useful.

0 sats \ 0 replies \ @OT 1 May

Boomers HAVE all the money though

0 sats \ 6 replies \ @BenAllenG 1 May

Isn't this just an indication that the inflation numbers are just blatantly misleading, if a 20 year old is making the same inflation adjusted dollar amount as a 50year old boomer there is something deeply wrong in the economy no?

10 sats \ 0 replies \ @BenAllenG 1 May

additionally each generation being very uniformly above the previous generation seems to support this, each subsequent generation isn't magically able to be above the older generations economically as this chart would suggest, so there must be another explanation

10 sats \ 4 replies \ @zuspotirko OP 1 May

if a 20 year old is making the same inflation adjusted dollar amount as a 50year old boomer

I think you haven't understood the chart

20 sats \ 3 replies \ @BenAllenG 1 May

Is it not saying that a gen-z ~20 year old makes/made $40000 and a boomer ~50 year old makes /made $40000?

110 sats \ 2 replies \ @zuspotirko OP 1 May freebie

No it's not saying that.

It's about household income. Zoomers & Boomers have in common that both are mostly 2 person households. With boomers (born between '46 and 64' being around 60-78 years old) having a lot of retirees or households with only one person working. Considering the low unemployment rate the Zoomers are working both or even count their parents income. In addition to that boomers have a nestegg as a cushion. Thus the difference between current Zoomers and current boomers is huuuge.

In a sense this graphic tells you little when comparing it this way. The more interesting thing - and what this graphic is actually made for - is looking at vertical lines. What were boomers like when they were as old as Zoomers are now?

15 sats \ 1 reply \ @BenAllenG 1 May

gothca, so then with zoomers making approximately 55% more than their boomer counterparts at the same point in their lives I wonder if their disposable income is appreciably higher?