Is it possible for those doing well to still acknowledge how our generation is screwed economically?

Great post, I was thinking to jot down something similar.
The way I see is that our generation(I'm Gen Z), is financially fucked due to 2 main behavioral changes:

1. Increase in consOOmerism: We're zoomer consoomer. GenZ is known for show off culture. We will buy the latest and greatest phones on EMI every 2 years. People spend thousands on sneakers, bags, branded clothes.
2. No Savings: People are no longer saving money. My then girlfriend used to got mad at me in market when I tried to bargain. Its considered a turn off lmao. People find bargaining bad now... like I'm looting a poor guy. People don't realise how much our parents sacrificed and bargained everyday to save money.

Go through Goldman Sachs report...

India is still best place to be!

Period.

While some of this might correct as economy expands and enters into a dovish period (post rate cuts), few things will remain as painful

• excessive milking of service class for taxes and loop holes for business class to make more profits
• high tax rate not translating to benefits for tax payers ex - free quality healthcare, better public transportation, cleaner air, unemployment coverage, etc.
• Rampant and illegal wealth creation by Babus (civil servants) and politicians with no framework/ policy to nip this in the bud. Entering people’s homes to find crores of gold and cash is just so scratching the surface

Yeah things are really bad in India. Even with this seemingly startup boom, there aren't enough jobs for all. The universities are producing bad talent that does not know how to work so there are bootcamps as well. Even if there are jobs, owning a home has become near impossible without a home loan. Getting a home loan, means giving away more than half of the salaries in EMI leaving no room for investing in other aspects of life. Even for a high income group, buying a house that justifies standards of being a high earner is costly. In delhi, flats are being sold from 25L to crores. For many this is more than what they will earn in their lifetime. 25L might seem reasonable but what you get for 25L feels like a cubicle in comparison to what you can own in a tier 2 or 3 city. Then comes the problem with these lower tier cities. Lack of connectivity, slow internet, lack of regular supplies of electricity, water, societal norms, cultural conflicts, bad healthcare and education infra and so on. No matter where you go, crime rates are at an all time high and the only thing I can think of as a solution is escaping india.

Just to add to this perspective, visited a 1bhk for rent 2 days back in Andheri east - 400 sq ft, 700mtr from metro, ~20yr old building, rent = 45k. Brokerage = 45k Deposit = rent x 3

What's surprising is, got rented out the next day when we called for negotiation 😶

Manufacturing boom and industrialisation solves some of this.

https://youtu.be/eB_B03nghsk?si=QStLC-eghz6V7LnY

Its called ponzi scheme. Many people say this money is not a zero sum game.

Boomers created this. GenX followed it silently.

Good that people are realizing this. Debt by Govt is never gonna get paid back. They will inflate it away.

Its a cycle: Strong Men Create Good Time Good Times Create Weak Men Weak Men Create Hard Times Hard Times Create Strong Men

So my dear warriors don't worry a lot to question and oppose old view. Good build the future with long term in mind.

There are at least 4 things that gen Z / alpha needs to understand that is millenials got lucky with and not to follow us.

1. Consumerism : Don't buy shit you don't need.
2. Studies : Study to learn, not get a job. Why do you ask India has few high value job creating institutions ? Because gen X and millenials cheated their way into job market using credentials. most people in upper and middle management are idiots in India. Developers making 30 lakh when they cannot write fizbuzz in php. Even in IAS and from IITs, too many idiots have too much power.
3. Freedom : Not every freedom is good. Alcohol Drugs mindless hookups take away your time, money, patience and focus. Millenials were lucky they were born in the HIMYM era where US could print free money and you can chill. The world has changed.
4. Social Media : is a time sink. Likes mostly don't mean anything. Becoming a famous influencer is HARD and requires lot of luck. Hoping to make a career in social media is like making salary through dream 11, not sustainable.

I need universal basic income, kaise hoga nahi janta bas chaiye.

@Ambedkarite The situation for employment for the 2015+ graduates is indeed bad. MNC and stable jobs have not taken off as have the supply of graduates and that has left a lot youngsters with educated degrees with debt and financial burden.

But economically, even the previous generations were screwed up. Average Jobs and incomes were never that high in India to begin with. Only the 1% of X-ers got stable Govt jobs, 1-2% of Millennials with stable private sector service jobs. We have to acknowledge that even in our parents generation, those who bought houses and taught kids in English medium were very few, the entire generation wasn't as well off.

Coming to the youth, the recent generations are the first with the high supply of educated grads running after too few jobs. But this was bound to happen and isn't as bad. The economy did not catchup fast to create jobs that could accommodate so many graduates, so there is a demand supply mismatch, BUT it simply could not do so fast. It would have been a miracle if it did. Everybody knew of this problem a decade back, everyone tried. There were seminars held which spoke about the need of 2Cr jobs to be created/yr in 2012 because our demographics is that way.