Are we going to bail out our kids who now seem to think gambling is investment?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Seems to me that Gen Z boys love to gamble. What's the reason behind this? Is it because they are not aas hopeful about the future and are hoping for a quick "fortune"?

Yours like to gamble. Don’t stereotype.

Thank you. Spoken like a highly successful parent.

[Anonymous]

Its more than the allure of gambling.

For Gen Z men, they have a strong streak of nihilism in everything but especially finances.

They have fallen behind women in education, they dont see ways to build wealth, housing is mind numbing expensive, and women wont date men who make less than them so they are involuntarily celibate.

Gambling, crypto, its the only path they see to improve their lot. Working hard at their stalled careers will not move the needle.

[Anonymous]

Anonymous wrote:Its the same with all the women doing onlyfans. Onlyfans is destroying so many young men. Once again dopamine hit like some of you mentioned earlier

Stop blaming women, incel.

[Anonymous]

Anonymous wrote:No, bailing out a kid with a gambling addiction is akin to buying alcohol for an alcoholic.

I have an idea for two new government programs.

[Anonymous]

Anonymous wrote:I agree. I know a man who died by suicide because he was broken by easy to access pornography.

This has been the case since the 90s

Why are we not talking about the effect on millennials?

[Anonymous]

Anonymous wrote:Its more than the allure of gambling.

For Gen Z men, they have a strong streak of nihilism in everything but especially finances.

They have fallen behind women in education, they dont see ways to build wealth, housing is mind numbing expensive, and women wont date men who make less than them so they are involuntarily celibate.

Gambling, crypto, its the only path they see to improve their lot. Working hard at their stalled careers will not move the needle.

WSJ just had an article, but it's not exclusive to men.

https://www.wsj.com/personal-finance/financial-nihilism-gen-z-gambling-meme-stocks-options-kyla-scanlon-7ae4f2aa?gaa_at=eafs&gaa_n=AWEtsqe_NXTRbCm4-39EgcpG2jradO-EhgCuFlYxyo36j3E98VZSHAXeIimu7Jq2zxc%3D&gaa_ts=696a63e4&gaa_sig=mzMn5Ct0sVeL_VudYzEg71si0s5LMTyF1skfeq_mnOOqYqv3338A43PeHIFgnhtd47nk2rv6RDYsDIktTKGD0w%3D%3D

Millennials and Gen Z are accused of treating finance like a game. They trade options, buy meme coins, play prediction markets and bet on sports as if the entire economy were a casino. The criticism usually ends there, with a finger wag and a head shake.

Baby boomers and members of Gen X say this is reckless, solid proof that social media has gamified money. But this misunderstands the mindsets of today’s young people. What seems like recklessness to parents and grandparents is actually a worrisome form of economic adaptation.

It’s known as financial nihilism, a term coined by podcaster Demetri Kofinas several years ago, and it describes the sense that the economic system no longer rewards prudence or long-term planning.

When every conventional path narrows, people start to look for alternatives. And in practice, that has meant turning toward the few places where a real upside still appears possible, even if the risks are high. In this environment, prediction markets, sports betting and cryptocurrency start to look like some of the only levers they have left. Nearly two-thirds of Gen Z and Millennials think that the only way to build wealth today is through alternative methods like gambling and crypto, according to the Harris Poll.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Gambling has existed since Homo Sapiens gathered to live in communities, OP.

This is nothing new.

Educate your kids, train them out of their worst impulses, teach them financial health.

I agree with you but since, of course, many people will not do this, we should also have laws in place to limit gambling. If everyone was a terrific parent, we wouldn't need laws at all. They aren't.

First thing I've ever read on DCUM that sounded like The Federalist Papers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Its more than the allure of gambling.

For Gen Z men, they have a strong streak of nihilism in everything but especially finances.

They have fallen behind women in education, they dont see ways to build wealth, housing is mind numbing expensive, and women wont date men who make less than them so they are involuntarily celibate.

Gambling, crypto, its the only path they see to improve their lot. Working hard at their stalled careers will not move the needle.

WSJ just had an article, but it's not exclusive to men.

https://www.wsj.com/personal-finance/financial-nihilism-gen-z-gambling-meme-stocks-options-kyla-scanlon-7ae4f2aa?gaa_at=eafs&gaa_n=AWEtsqe_NXTRbCm4-39EgcpG2jradO-EhgCuFlYxyo36j3E98VZSHAXeIimu7Jq2zxc%3D&gaa_ts=696a63e4&gaa_sig=mzMn5Ct0sVeL_VudYzEg71si0s5LMTyF1skfeq_mnOOqYqv3338A43PeHIFgnhtd47nk2rv6RDYsDIktTKGD0w%3D%3D

Millennials and Gen Z are accused of treating finance like a game. They trade options, buy meme coins, play prediction markets and bet on sports as if the entire economy were a casino. The criticism usually ends there, with a finger wag and a head shake.

Baby boomers and members of Gen X say this is reckless, solid proof that social media has gamified money. But this misunderstands the mindsets of today’s young people. What seems like recklessness to parents and grandparents is actually a worrisome form of economic adaptation.

It’s known as financial nihilism, a term coined by podcaster Demetri Kofinas several years ago, and it describes the sense that the economic system no longer rewards prudence or long-term planning.

When every conventional path narrows, people start to look for alternatives. And in practice, that has meant turning toward the few places where a real upside still appears possible, even if the risks are high. In this environment, prediction markets, sports betting and cryptocurrency start to look like some of the only levers they have left. Nearly two-thirds of Gen Z and Millennials think that the only way to build wealth today is through alternative methods like gambling and crypto, according to the Harris Poll.

Why aren't we teaching kids to focus on financial viability as opposed to wealth? I realize WSJ isn't a good representation of the majority of the country. However as Millennial who supposedly wasn't going to be able to afford anything (but of course now it's quietly being admitted that financially we're doing just fine), I never focused on getting wealthy. I focused on affording my life.

[Anonymous]

Anonymous wrote:Its more than the allure of gambling.

For Gen Z men, they have a strong streak of nihilism in everything but especially finances.

They have fallen behind women in education, they dont see ways to build wealth, housing is mind numbing expensive, and women wont date men who make less than them so they are involuntarily celibate.

Gambling, crypto, its the only path they see to improve their lot. Working hard at their stalled careers will not move the needle.

Don't raise boys to see their worth through whether a woman finds them suitable or not. I am certainly not raising my son that way. I am encouraging my son to build his own wealth first and then he can think about dating. Between 23 and 35 all I did was work like a maniac save save, I amassed so much wealth in that process and I'll do it all over again. The problem is that women have very different timelines than us. If you meet a woman at say 27 and she is 27 don't be shocked if she starts talking about marriage within a year. You don't want that distraction. Make your own money first and then you can find a woman. There are plenty of them.

[Anonymous]

Anonymous wrote:Seems to me that Gen Z boys love to gamble. What's the reason behind this? Is it because they are not aas hopeful about the future and are hoping for a quick "fortune"?

Because their brains aren't fully developed. Anything else?

[Anonymous]

When you say "we" do you mean we as in American taxpayers? Or "we" as in the Bank of Mom and Dad?

[Anonymous]

Anonymous wrote:

Anonymous wrote:The legalization of sports betting is a boon to these betting middle-men and a poison to young men. This should not be so simple and the level of advertisements that go on is insane. Why do we insist on this kind of immoral legalization? I put it right up there with cannabis legalization. Devastating to young men.

Because legislating morality is rarely a good idea.

Any other questions?

More and more I am coming to see that legislating morality is a great idea and something we should be doing more of.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Its more than the allure of gambling.

For Gen Z men, they have a strong streak of nihilism in everything but especially finances.

They have fallen behind women in education, they dont see ways to build wealth, housing is mind numbing expensive, and women wont date men who make less than them so they are involuntarily celibate.

Gambling, crypto, its the only path they see to improve their lot. Working hard at their stalled careers will not move the needle.

Don't raise boys to see their worth through whether a woman finds them suitable or not. I am certainly not raising my son that way. I am encouraging my son to build his own wealth first and then he can think about dating. Between 23 and 35 all I did was work like a maniac save save, I amassed so much wealth in that process and I'll do it all over again. The problem is that women have very different timelines than us. If you meet a woman at say 27 and she is 27 don't be shocked if she starts talking about marriage within a year. You don't want that distraction. Make your own money first and then you can find a woman. There are plenty of them.

Hope you enjoy being a first time grandparent at 80

[Anonymous]

It’s the same story for all of the base vices: gambling, alcohol, drugs, p0rn, even devices and junk food.

Yes anyone can become addicted and ruin their life, but it predominantly impacts the low IQ, mentally ill, victims of childhood abuse, and impulsive/low impulse control.

Liberal/liberatarian social policy benefits cognitive elites on average.

[Anonymous]

Anonymous wrote:No we are not bailing them out.

Only MAGA stupids would think that

Its kinda a liberal mom thing though, especially on this liberal mom board.