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Gen Z has been priced out of a future, so we invest in the present
Gen Z has been priced out of a future, so we invest in the present

USA Today

time27-05-2025

  • Business
  • USA Today

Gen Z has been priced out of a future, so we invest in the present

Gen Z has been priced out of a future, so we invest in the present | Opinion With a financially stable future out of reach, it's no surprise that much of my generation has adopted a sort of economic nihilism. Show Caption Hide Caption Gen Z suffers from more anxiety and loneliness than previous generation According to a recent study, Gen Z struggles with their mental health, around 20% more than millennials do. unbranded - Lifestyle With my student loan debt mounting and homeownership a far-off dream, I stared at the SSENSE webpage on my laptop, wondering if I deserved to buy a $600 pair of Marni loafers through Klarna, a buy now, pay later financial service provider that we've become a bit too familiar with. I didn't buy the shoes – proof I haven't lost my mind completely – but the foreplay reflected a shift in financial priorities and conditions for people my age. Does the American dream still uphold a 20-something's right to buy shoes? For many Generation Zers, those born between 1995 and 2012, the American dream has been recalibrated. Dreams of owning a single-family home guarded by a white picket fence have softened to hopes of renting out a decent-sized apartment, hopefully with just one roommate. Kids are out of the question. Summer vacations abroad are now only pipe dreams for those whose lives aren't subsidized by their parents. Splurging on groceries and fresh produce is a new form of luxury, especially for those whose Erewhon is Whole Foods. Consumer prices have increased in recent years due to inflation. In 2022, the U.S. saw one of the highest rates of inflation in 40 years. Despite wage increases and projections of economic stability from experts, Americans still feel financially spread thin. Ballooning rent and housing prices certainly don't help. Many Gen Zers are entering adulthood in a country rife with economic disarray, a reality our Millennial forebears know all too well. The promises offered to us in our childhood – that if we get good grades, go to college, get a degree and land a good job, we'd be set for life – ring hollow. More than 4 in 10 Americans under 30 say they're "barely getting by" financially, while just 16% report doing well or very well, according to a Harvard Institute of Politics Survey. Opinion: Gen Z's risk-averse behavior makes love elusive. Are we all going to die alone? With a financially stable future out of reach, it's no surprise that much of my generation has adopted a sort of economic nihilism – a set of practices that prioritize splurging on little luxuries now, instead of saving up for a future that may never come to fruition. Gen Z is crippled by student loan debt Student loan debt is one of the biggest plagues on our wallets. While Gen Zers are less likely to have student loan debt, rising education costs mean we start out with more debt early on than Millennials did. Student borrowers who were 20 to 25 in 2022 had an average balance of $20,900 in student loan debt, a 13% higher balance than Millennials did at the same age. We got a false sense of hope when student loan debt forgiveness was dangled over our heads, only to have it yanked from above us when the Supreme Court struck it down. Matters got even more serious when it was announced that the federal government would resume involuntary collections for borrowers in default on May 5. No rest for the weary, I guess. What makes student loans particularly challenging for Gen Z is the instability of the job market. Finding work is a fruitless endeavor. From DOGE blindly slashing through federal agency budgets to big tech corporations wielding AI as a replacement for human workers and placation for their own greed, job stability and steady earnings remain elusive. Opinion: Why is Gen Z so obsessed with the gym? Our fitness craze masks a deeper crisis. I've seen my peers lose entry-level jobs in communication and tech just as quickly as they got them. I've watched my friends who majored in computer science, engineering and other 'useful' areas of study succumb to hopelessness as their degrees collect dust with virtually nothing to show for them besides mounting debt. With myriad financial stressors coming from all directions and a recession looming, one would think Gen Zers would lead lives of frugality, pinching pennies in every way we can. Instead, I've noticed the exact opposite. Gen Z has been priced out of a future, so we invest in the present. This economic disillusionment leads us to some questionable consumer habits. We're all living above our means, spending money that could otherwise be saved and invested for an elusive tomorrow. Consumer shopping habits reflect our economic nihilism When I asked my friends about their own impulsive or irresponsible spending habits, they confirmed what I already knew to be true: that creating pleasure in the present is paramount. Many of my friends have a habit of putting over-priced concert tickets on their credit cards, something I'm also guilty of (thank you, Ticketmaster). A friend of a friend paid for a trip to Japan in 12 installments. Another friend signed a $2,000 per month lease in New York on a salary of less than $50k, and put themselves into even more debt when they decided to become a fitness instructor. The most common habit among my friends is making big, impulsive purchases on credit and worrying about them later. This explains why Gen Z has the highest average personal debt when compared to other generations. When asked what motivates these purchases, the answers I got all had a similar YOLO attitude. The milestones other generations were achieving at this age – first house, first 'real' job, kids – all seem untenable. Why spend our 20-something years playing an endless game of catch-up? Why not try to piece together a semblance of an enjoyable life now? Seeing wealthy influencers our age lounging in the Mediterranean or frolicking up and down the streets of Paris, dripped in the trendiest fashions, makes it hard for us not to want the same. Older generations may look at our spending habits and grimace. But to understand Gen Z's economic nihilism is to understand the hopelessness that comes with being thrust from one unprecedented crisis to the next, one broken promise after another. Whenever the hopelessness gets too heavy, though, I try my best to remember that there have been worse times in history and in almost every instance we were able to bounce back to some degree. I like to believe this time will be no different. We can find solace in knowing we're not alone in our struggles. Maybe, fellow Gen Zers, it isn't wise to throw our whole future away. Let's hold off on those overpriced shoes. Maybe it's best we practice just a little more financial discipline as best we can and add just a touch of radical optimism – it's really all we have. Kofi is a columnist and digital producer for USA TODAY and the USA TODAY Network. He still wants to buy those Marni loafers.

Kanye West claims he's ‘done with antisemitism' — weeks after releasing song praising Hitler
Kanye West claims he's ‘done with antisemitism' — weeks after releasing song praising Hitler

New York Post

time23-05-2025

  • Entertainment
  • New York Post

Kanye West claims he's ‘done with antisemitism' — weeks after releasing song praising Hitler

Vile Hitler-loving rapper Kanye West publicly claimed to be giving up his hateful antisemtic tirades, just hours after two soon-to-be-engaged Israeli Embassy staffers were gunned down outside the Capital Jewish Museum. 'I am done with antisemitism,' wrote Ye, just two weeks after sparking disgust with a song called 'Heil Hitler' and selling swastika T-shirts. 'I love all people. God forgive me for the pain I've caused. I forgive those who have caused me pain. Thank you God.' 3 Kanye West attends the Marni fashion show on February 23, 2024 in Milan, Italy. Getty Images Ye did not directly link his apparent change of heart to the horror at the cold-blooded slayings of Yaron Lischinsky, 28, and Sarah Milgrim, 26, as the Israeli Embassy employees left an event at the Capital Jewish Museum the previous night. Instead, he suggested it was because he 'simply got a FaceTime from my kids and I wanna save the world again…' The Anti-Defamation League said it wasn't 'buying' West's apology. 3 A swastika on Kanye West's Los Angeles studio on March 23, 2025. Snorlax / MEGA 'We've seen this kind of attempted apology from Kanye before, only for him to back down over and over again,' a spokesperson for the ADL told Billboard. 'As the Jewish community mourns the deaths of two individuals outside of a Jewish Museum in yet another horrific antisemitic attack, it's going to take a lot more than a couple of tweets to repair the damage of his antisemitic speech.' Since 2022, West, who now goes by Ye, has made scores of antisemitic remarks — triggering global backlash and the loss of major business partnerships. 3 Kanye West sold swastika T-shirts. His controversies started when he threatened to go 'death con 3 on Jewish people' on social media, followed by a series of bizarre interviews in which he praised Hitler and spout conspiracy claims about Jews controlling media and finance. Ye's antisemitic posts and remarks continued through 2023 and 2024, including statements downplaying the Holocaust. In February, he posted on social media 'I LOVE HITLER.' He then released 'Heil Hitler' on May 8, and has also sold T-shirts with big swastikas on the front — regularly justifying jis hate as art.

Nabawan woman claims converted without her consent
Nabawan woman claims converted without her consent

Borneo Post

time20-05-2025

  • Borneo Post

Nabawan woman claims converted without her consent

KOTA KINABALU (May 20): A woman from Nabawan has lodged a police report, claiming her identity was fraudulently used to register her as a Muslim more than a decade ago, without her knowledge or consent. Marni Pangeran, 38, said she was shocked to discover her name has been listed as a Muslim earlier this year, claiming that she had never converted nor signed any documents and was not present when the conversion was allegedly processed in 2009. 'I never signed any form or given consent nor have I recited the 'Syahadah'. I only discovered this when my husband checked a list of Muslim converts in our district prepared by a local religious officer,' she said after lodging a police report at the Kota Kinabalu District Police Headquarters on Sunday. Marni was accompanied by her brother-in-law Raymond Ahuar and lawyer Sazalye Donol Abdullah. She said the year she was allegedly converted, she was working in Nabawan. 'There is a picture of me wearing a tudung. I had no interaction with any religious authority,' she said. The case came to light earlier this year when a proposal was made to hold a programme for Muslim converts in Nabawan. Marni's name appeared on the list, prompting her family to investigate further. Despite her Christian faith being reflected in her identity documents, records from the Sabah Islamic Affairs Department (Jheains) indicated otherwise. Marni, who is married with four children aged six to 13, is living a Christian life. The situation has caused significant emotional distress and confusion for her family. 'My children are Christian. This false record threatens the unity and future of my family,' she said. Meanwhile, Sazalye highlighted that the alleged conversion lacked legal validity. 'A genuine conversion requires a clear and voluntary declaration, including a sworn statement. None of this was done. 'Even the thumbprint in the official documents does not match Marni's thumbprint. Police should investigate the individuals named in the documents, including a religious officer and two other witnesses. 'We suspect this could be part of a wider syndicate falsifying conversion records in remote regions,' he said. Sazalye said the case is being framed both as a criminal investigation into possible document forgery and as a civil matter for Marni to clear her religious status through the Syariah Court. 'For now, her MyKad still shows her as a Christian, but records within religious departments say otherwise, which may affect her legal standing in the future,' said Sazalye. Marni's brother-in-law, Raymond also claimed the family had also discovered that Marni's deceased aunt, who was buried according to Christian rites, was listed as a Muslim in government records. Raymond said this raises concerns about posthumous misrepresentation and administrative malpractice. It was also learned that the second witness for Marni's conversion is Datuk Sangkar Rasam @ Mohd Sharudin, whose wife, Datin Rufinah Pangeran, had ousted Raymond as Pensiangan PKR branch chief in their party's ballots in April. Sazalye, their lawyer, was the former Kota Marudu branch chief and current Sabah PKR secretary. Sangkar is a State Leadership Council member while Raymond is vice chairman. However, Raymond stressed that the matter should not be politicised. 'We must uphold justice, even if it involves family members or political figures. This is a matter of human rights and faith,' he said.

Woman lodges police report over alleged conversion
Woman lodges police report over alleged conversion

Daily Express

time19-05-2025

  • Daily Express

Woman lodges police report over alleged conversion

Published on: Tuesday, May 20, 2025 Published on: Tue, May 20, 2025 By: Jonathan Nicholas Text Size: From left: Raymond, Marni and Sazalye. Kota Kinabalu: A woman from Nabawan lodged a police report claiming she was registered as a Muslim without her knowledge or consent, alluding to a possible conversion syndicate operating in the interior. Marni Pengeran, 38, was accompanied by her brother-in-law Raymond Ahuar and lawyer Sazalye Donol Abdullah when she filed the report at the Kota Kinabalu District Police Headquarters on Sunday. Advertisement The report supplements an earlier police complaint made in Nabawan earlier this month. Marni claimed she never applied to convert to Islam and was unaware that her name was registered as a Muslim in the religious authority's database since 2009. 'I never signed any form or gave consent nor have I recited the syahadah. I only discovered this when my husband checked a list of Muslim converts in our district prepared by a local religious officer. 'The year I was allegedly converted I was working in Nabawan and they used a picture of me wearing a tudung. I had no interaction with any religious authority,' she said. Advertisement The case came to light earlier this year when a proposal was made to hold a programme for Muslim converts in Nabawan. Marni's name appeared on the list, prompting her family to investigate further. Despite her Christian faith being reflected in her identity documents, records from the Sabah Islamic Affairs Department (Jheains) indicated otherwise. Marni, married with four children aged 6 to 13 and living as a Christian, said the situation caused significant emotional distress and confusion for her family. 'My children are Christian. This false record threatens the unity and future of my family,' she said. Her lawyer highlighted that the alleged conversion lacked legal validity. 'A genuine conversion requires a clear and voluntary declaration, including a sworn statement. None of this was done. 'Even the thumbprint in the official documents does not match Marni's. Police should investigate the individuals named in the documents, including a religious officer and two witnesses. 'We suspect this could be part of a wider syndicate falsifying conversion records in remote regions,' he said. He said the case is being framed both as a criminal investigation into possible document forgery and as a civil matter for Marni to clear her religious status through the Syariah Court. 'For now, her MyKad still shows her as a Christian, but records within religious departments say otherwise, which may affect her legal standing in the future,' Sazalye said. Marni's family also discovered that her deceased aunt, who was buried according to Christian rites, was listed as a Muslim in government records. Raymond said this raises concerns about posthumous misrepresentation and administrative malpractice. Just to further complicate matters, the second witness for Marni's conversion is Datuk Sangkar Rasam @ Mohd Sharudin whose wife, Datin Rufinah Pangeran, had ousted Raymond as Pensiangan PKR branch chief in their party's ballots in April. Sazalye, their lawyer, was the former Kota Marudu branch chief and current Sabah PKR Secretary. Sangkar is a State Leadership Council member while Raymond is Vice Chairman. However, Raymond stressed that the matter should not be politicised. 'We must uphold justice, even if it involves family members or political figures. This is a matter of human rights and faith,' he said. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia

Nabawan woman claims she was wrongly registered as Muslim
Nabawan woman claims she was wrongly registered as Muslim

Daily Express

time19-05-2025

  • Daily Express

Nabawan woman claims she was wrongly registered as Muslim

Published on: Monday, May 19, 2025 Published on: Mon, May 19, 2025 By: Jonathan Nicholas Text Size: Marni with Sazalye (right) and Raymond. KOTA KINABALU: A woman from Nabawan has lodged a police report claiming she was registered as a Muslim without her knowledge or consent. Marni Pengeran, 38, was accompanied by her lawyer Sazalye Donol and brother-in-law Raymond Ahuar when filing the report here, supplementing a similar complaint lodged earlier in Nabawan. Advertisement She alleges she never applied to convert and only discovered her name listed as a Muslim after her husband came across a document prepared for a convert programme in their district. Her lawyer argued the alleged conversion was invalid as no declaration or consent was given, and a mismatch in thumbprints suggests possible document forgery. The family also uncovered a deceased relative was similarly misrecorded as Muslim, prompting calls for a wider investigation into possible systemic malpractice. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia

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