By most account, America’s young consumers are stereotyped as a selfish, impulsive, highly indulged bunch. Inflation is coming for us all, but it's about to hammer an "entitled generation." So says BlackRock president Rob Kapito in a recent conference of oil and gas producers in Austin, Texas. In this episode of the Financial Griot podcast, we discuss what these implications could mean. And are we entitled to the results that we dream of or is the American dream dead?
By most account, America’s young consumers are stereotyped as a selfish, impulsive, highly indulged bunch. More so than other age groups, Gen Y has been shown to splurge on restaurant meals they probably can’t afford, pamper themselves with impulse buys, and partake in “self-gifting” during the holidays. They’ve also been criticized in the workplace for focusing on their own needs rather than on-the-job performance.
Inflation is coming for us all, but it's about to hammer an "entitled generation."
So says BlackRock president Rob Kapito in a recent conference of oil and gas producers in Austin, Texas, as first reported by Bloomberg News. He said an entire generation would feel the blow of the shortages in goods, housing, and workers associated with the "scarcity inflation" threatening the economy.
"For the first time, this generation is going to go into a store and not be able to get what they want," he said. "And we have a very entitled generation that has never had to sacrifice."
In this episode of the Financial Griot podcast, we discuss what these implications could mean. And are we entitled to the results that we dream of or is the American dream dead?
*Side note, we are also millennials so we might be bias.
Detailed show notes, www.theneighborhoodfinanceguy.com
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