Gen Z and young millennials battling ‘negative wealth’ as debt burden grows
https://www.theguardian.com/society/2025/apr/05/gen-z-and-young-millennials-battling-negative-wealth-as-debt-burden-growsOpen linkView original on lemmy.worldSyndicated from the fediverse. Read and engage on the original instance.
View original on lemmy.worldhttps://www.theguardian.com/society/2025/apr/05/gen-z-and-young-millennials-battling-negative-wealth-as-debt-burden-growsOpen linkView original on lemmy.world
19 replies
There isn't a lack of wealth in the world. It's just hoarded by a few covetous billionaires. Sounds like it's time for a redistribution. Your survival is on the line.
There has been a proposed modern implementation of a historical solution: https://braveneweurope.com/steve-keen-reducing-debt-via-a-modern-debt-jubilee
The people who would vote en masse to prevent this are literate enough to comprehend roughly 2% of that information.
There is a reason biblically they recommend debt jubilees.
Negative wealth? Finally, we can claim to have some form of wealth!
Yeah, are they just churching up the existing word "debt"?
It's all okay. We can all sell our blood and organs to the mega billionaires so they can all go to space and construct an empire there.
Not the dumbest shit I've heard today though. With the way the US is headed right now, you'll be taken in by your new home as a refugee.
They're not unique there. Gen X and even boomers have the same problems exact problem. We live in hell, after all.
And older millennials, in some cases.
Yeah, definitely. I delayed my career after grad school because I was assured (by people who were already set for life) that working as an unpaid intern and doing academic fellowships for slave wages would get me a higher-paying job, especially if I waited long enough for the financial system to recover after the ‘08 crash. That was utter bullshit, and now I have significantly fewer assets than most other elder millennials, am way behind on my retirement savings (which lost thousands in the last week thanks to Trump lighting it on fire…), I will never own a home, will never be able to pay off my student debt, and will probably never be able to start a family. Oh and I have good credit, despite my hundreds of thousands of dollars of student debt. I’ve even had a good job for the last 5 years, but it’s all worthless bullshit when upward mobility is practically impossible, and even maintaining my current “wealth” becomes more unrealistic every day. I’m just surviving, that’s all. And I have it relatively good.
In in a similar boat. All I can do is bail as hard as I can.
Negative wealth! That’s the billionaires boogeyman.
I mean, wasn’t that a major plot point for fight club. Wipe out all the debt records?
And Mr robot
It's ok. Conservatives will make it a capital offense. Problem solved.
I'd like to personally thank whoever came up with the genius idea of charging people money before they have it.
Only half joking.
Just 👏 stop 👏 paying 👏
At this rate it won't be by choice