Dapper 2023
Gentle/Graceful Gangstas
On December 5th, Andrew Lisa wrote an article saying that Generation Z is preparing for a recession. The title of that article is “Gen Z Preparing For a Recession More Than Any Other Age Group, Survey Shows” published on the Yahoo Finance website.
“The oldest Gen Zers turned 18 in the mid-2010s and are 25 today. They came of age during an epic, decade-long stock rally that remains the longest bull market in history. On top of that, any Gen Zers who borrowed money did so when interest rates were at or near record lows.”
Lisa mentioned the seven (7) ways that Gen Z is preping ahead of previous generations: cutting spending, delaying big purchases, working harder or longer hours, considering a more stable job, selling things they don’t need, taking on a second job.
Other points that can be made in addition to this article are that Gen Z is starting their side hustles and businesses, investing in stocks and cryptocurrency, and studying the real estate market and saving for purchases. Information about these topics is available to the general public via social media, experts with online workshops & courses, online & offline communities, and so on. Gen Z, utilizing these advantages, has prepped their minds for how to maneuver in the upcoming years.
Much like the tech industry explosion of Silicon Valley, cryptocurrency & blockchain investors have attracted to Miami. As quoted from the FTX class action lawsuit docket:
“FTX organized and emanated its fraudulent plan from its worldwide headquarters located here in Miami, Florida. Miami became the "hot spot" for crypto companies, hosting the most investments in crypto startups as well as the annual Bitcoin Miami 2022 Global Forum. Several crypto companies, including crypto exchange Blockchain.com, Ripple and FTX.US, moved their headquarters to Miami. Others, including fellow exchange eToro, expanded their U.S. presence with offices in Miami.”
Being born during the “dot com” era and experiencing as a young adult/teenager the “cryptocurrency & blockchain” era, Generation Z is able to closely remember these life changing experiences and utilize those memories to make sound financial decisions. By practicing ethical and logical decision making techniques, success is seen for Generation Z.
While stocks and cryptocurrency are primarily traded & bought online, a more traditional form of wealth keeping has become more popularized: precious metal holding. While many Gen Zers are already NFT and cryptocurrency “hodlers,” they are now greatly interested in holding metals such as copper, silver, gold, and platinum. By investing in both short term and long term assets, Generation Z is sure to profit during and after this recession and/or depression.
You can read the article from Andrew Lisa here
You can read and download the full FTX class action lawsuit here