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In other words: During the pandemic, those under 40, many flush with stimulus checks, took to the stock market and saw big gains.
Who the fuck wrote this? "Flush with stimulus checks"?? You mean those one-time payouts that didn't even cover a month's rent while half of us were out of work?
It basically boils down to people getting a couple extra paychecks.
MASSIVE GAINS! SO WEALTH!
The much more obvious interpretation is that a lot of them inherited cash from the untimely deaths of their parents.
Guys, this is all based on percentages. If you started out with $5 in your name, and got a $1200 stimmie, then poof! You're now 24,000% richer. (At least until the rent is due....)
Nah.
The big part was student loan pauses.
With rent skyrocketing, many in that age group also had to move back home. Not paying for rent means a lot more money in your bank account. Just not enough income to rent your own place.
There's lots of very interesting factors to consider...
But the author is apparently just an idiot if they're saying it's because of investments in the stock market
Lmfao, I'm actually offended on how bad this propaganda is. Try better, OP.
This looks like a perfect example of disinformation/propaganda, and it is remarkably-effective, at producing churn/buzz/kerfuffle, isn't it?
If everybody just instantly saw that it contradicts the statistics of homelessness, of people-residing-at-their-parents'-place, at the working-destitution-wages, at the 50% of renters can't sustain the rent they're paying, etc...
then it wouldn't have the traction it obviously-does..
Remarkable example of machiavellianism, this...
I'd love to see what torqued "data" they use as their basis,
and maybe that is based on torque, too..
Too bad journalism's "left the building"..
_ /\ _
The fuck kind of statistics twisting propoganda bullshit...?
Just as a data point, I did buy a single share of Tesla at $420 for the memes back in covid days, and sold it recently for a manyfold profit, so there's that.
Overall though, due to inflation, I doubt we're better off.
The all-time high Tesla stock closing price was 409.97 on November 04, 2021.
?
You didn't share your actual source so I can't verify, but it sounds like it didn't take into account stock splits.
1 share at the start of covid at $420 became 15 shares, each currently worth a little less than $200 for a sum total of a little less than $3000 from that $420 purchase.
Just a quick Google auto-answer. I figured there might be some funny business like that, thanks.
During the pandemic, those under 40, many flush with stimulus checks, took to the stock market and saw big gains.
Yoh... u alllll did dis!? I envy u!!!
I'm a fellow human being living outside America
Those under 40 with stimulus checks saw the check disappear the next time they had to pay rent....
Trilly? Not certain I like how this article wrote things. Regardless the article seems to imply there was a slight advantage for the younger generations that the older fifnt get to capitalize on. Wonder how thst contrasts to, what I understand to be, nearly constant stacking financial advantages the older generations get.
Agreed. Just on a basic level of writing, this article is really bad , especially for an organization like Axios. The title is downright insulting to imply that younger generations are in any way better off now than they were pre-COVID.