Yep

Young People May Have Enjoyed the Lockdowns But Will They Enjoy Paying For Them?

Twenty percent of 18-24 year-olds in Britain tell pollsters at the Sunday Times that they liked or strongly liked the lockdowns as do 22 percent of 25-34 year-olds.  This is the highest of any age group.  Only 7 percent of those 65 and up liked the lockdowns.  

For many the lockdowns seem like a long summer vacation and with the added subsidies from underemployment payments, a long summer vacation with an allowance.

But going forward, it is the younger generation that is going to bear the costs of the trillions of dollars, pounds and euros blown not only on lockdowns measures but also the massive amount of pork tucked in so-called COVID relief bills as well as lost future earnings from labor market scarring.  

Perhaps it is a good thing that at least some young people enjoyed the lockdowns because they are going to be paying for them for the rest of their lives.  

Elections have Consequences

Wealthy New Yorkers have suddenly become upset at their treatment at the hands of city and state politicians.  Hard to have sympathy for them as the urban elites, not the working class, are the people that put DeBlasio, Cuomo etc. in office.  From ZeroHedge

Richard Ravitch, the former lieutenant governor and elder statesman credited with helping to guide the city through the tumultuous 1970s, claims he has never seen the rich be so thoroughly demonized in New York City, a symbol of American class inequalities.

As Margaret Thatcher said, "the problem with socialism is that you eventually run out of other people's money".  New Yorkers are going to find that out pretty soon.

The Economist: China is betting that the West is in irreversible decline 

Though much of this blog is dedicated to economic issues, young Americans are being robbed of their cultural inheritance as well.    

Consider the difference in what young people in China and the United States are taught about their own countries.  In China, a studentor young person is likely to be taught that China is a great country with agreat future.  Clearly much of what is being taught, particularly about China in the 20^th century, is not true.  But the purpose is to instill patriotism and optimism in the future.    

Contrast that with the United States.  YoungAmericans are all too often taught that the United States is a flawed, racistcountry and that capitalism is a bad, exploitive system.  These messages are not true either.  Granted, the United States is not perfect.  But unlike China, our elites portray our country in the worst possible light, not the best. 

These messages have long run implications.  Young people, and for that matter, older people as well are more likely to invest themselves in the betterment of their country when they believe that their nation has a heroic past and a great future.  This could be investing one’s energy in innovation or starting a business.  Or it could be dedicating oneself to the protection of fellow countrymen through service in the military or police.    

If China is right and the West is in a state of irreversible decline, it is young people that have the most to lose.  The culprit is not China.  It is America’s woke elites that have robbed young Americas of their cultural inheritance.

 Number of Young People Working Multiple Jobs to Make Ends Meet Way Up Since COVID

New survey from the Bill and Melinda Gates Foundation shows that the percentage of young people working two or more jobs to make it has increased dramatically.  This underscores the difficulties created by the lockdowns.  As I have blogged before, Biden Administration labor policies will only make the employment situation of young people worse.  

Young people will bear brunt of post-Covid unemployment crisis, report warns

Since the start of the Covid-19 outbreak, those aged 25 and under have accounted for three in five jobs lost, the Prince's Trust and the Learning and Work Institute report said.  It added that youth unemployment is expected to increase further as the economy recovers.  While some areas of the economy might start to recover, young workers are under-represented in these sectors, and the industries that typically employ them will be hit hardest in the long term, the report continued.

Young people have borne the brunt of the lockdowns--a measure intended to combat a disease that affected mostly the old.  Yet there is no evidence of any government policies designed to aid young people.  Here are a few: 

- Abolish the minimum wage

- Pass right-to-work legislation and make unions more democratic through periodic recertification elections

- Stop legislation like California's AB5 and the PRO Act which harm independent contractors

Unfortunately, the Democratic Party is on the wrong side of all of the above.  

Inflation a major concern of young Americans today

Their concerns are justified given Federal Reserve policy and the enormous growth of government borrowing.  The Federal Reserve has announced that they are keeping rates low while seeking to hit their 2 percent inflation target.  That means negative real rates for a very long time in the future.  That's great for government which can borrow cheap to finance current spending.  But it's terrible for young people and small savers who will see what little returns they get on their savings washed away by inflation.  

 https://www.zerohedge.com/economics/77-americans-are-worried-about-soaring-inflation