ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Analyst. Market Analyst is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
Market Analyst Logo
Market Analyst Logo
MARKETANALYST.US / ECONOMY & WORK

Gen Z Individual Criticizes High Cost of Living, Netizens Asks Him to Run for Office

Americans are grappling with the increasingly unmanageable cost of living, particularly hitting hard on younger generations.
PUBLISHED APR 15, 2024
Cover Image Source: TikTok | @nicsmnrs
Cover Image Source: TikTok | @nicsmnrs

Americans are grappling with the increasingly unmanageable cost of living, particularly hitting hard on younger generations like Millennials and Gen Zers. Amid this economic strain, Nic (@nicsmnrs) took to TikTok to discuss his challenges in affording everyday necessities. "Can somebody explain to me in crayon-eating terms why I make over three times the federal minimum wage and I cannot afford to live?" he questions in his video. The video went viral and he garnered support from thousands of netizens struggling with similar problems.

TikTok | Nic | nicsmnrs
Image Source: TikTok | @nicsmnrs

"And I do not want to hear the 'Pull yourself up from your bootstraps, work 90 hours a week.' That’s not the goal, guys," he continues in his rant. "A one-bedroom apartment, $1,800. Two-bedroom apartment, $2,200. Who the f–k can afford that? It is embarrassing to come out and say that it is a struggle to survive right now. But I know so many people are struggling," he adds.

"I just now realized that regardless of which side I vote, it won’t be fixed," he says.

Cover Image Source: TikTok |
Image Source: TikTok | @nicsmnrs

A recent survey by Gallup discovered that more than a quarter (26.1%) of Americans resort to withdrawing money from savings, including their retirement savings. This situation arises from the fact that many individuals' income levels fail to keep pace with the increasing cost of living.

As the prices of goods and services continue to rise, from housing to groceries to healthcare, people find that their earnings simply do not stretch far enough to cover all their expenses. This creates a significant financial strain, forcing individuals and families to make tough choices and prioritize necessities over other expenses.

TikTok | nicsmnrs
Image Source: TikTok | @nicsmnrs

In response to Nic's video, many viewers flocked to the comment section to express agreement, with one user @madrona stating, "We need more young people like you speaking up." Nic's stance garnered praise, inspiring some to take action, as user @AerielnotAerial wrote, "Ok I’m ready. What do we do?"

Some commenters even suggested Nic "run for office." Another user, @QueenCindy, remarks, "Like for real how we make money but we can't make enough for the people. The rich stay rich and the poor are lost and stay poor. Sad world."

TikTok | balddude118
Image Source: TikTok | @nicsmnrs

In the video, Nic also delves into the issue of America's foreign aid spending, asserting that "Government overreaching, government overspending has continued to happen and it is getting worse and worse." He promises to keep his viewers informed and encourages ongoing discussion about these issues. "Do not let go of it! This had to change immediately, our debt is raising a trillion every 100 days folks, this is unfixable."

Despite the GDP rising and unemployment reaching a five-decade low, Americans remain pessimistic about the economy. The disparity between national statistics and general sentiment is quite surprising. "There are three plausible explanations—the first is self-evident, that people truly find the current economy unsatisfactory," explained Ben Harris, director of the Economic Studies program at the Brookings Institution.

"This could be due to unhappiness with the level of prices, or dissatisfaction with longstanding structural issues like economic inequality and housing affordability," as reported by CBS.

For more such content you can follow Nic (@nicsmnrs) on TikTok.

POPULAR ON MARKET REALIST
MORE ON MARKET REALIST