The 2007 to 2009 house mortgage credit debacle that sunk so many working class and middle-class income borrowers where the CDOs and other financial instruments collapsed, really sunk many to a low class if not the broke class as in start over. The lack of a healthy credit industry this previous decade didn’t help the gen Y-Zers’ join a previous generation getting into the credit game, especially as previous Gen’xers found out with unforgivable student loans. It’s not like current generations can all be like the president and simply go bankrupt to stiff contractors among other obligations, no, people with student loans are strapped and trapped. So many big enablers like those banks, now many gone or merged, among many others that got bailed out and still exist, always seemed covered in the legacy financial media with a light hand, with narratives of ‘didn’t see it coming’, ‘ who’ da thunk it?’, ‘ we can’t get a finger on it, we are totally stumped’. Which was a total lie, but similar to our present-day link bait media the finance media in older broadcast outlets like CNBC were busy covering for their clients that advertise on finance network channels. More players in that crisis e.g. the S&P credit reporting service(?) spewed out intentionally blind statistics, as if nothing was happening, ‘ah, wasn’t us’, which of course are more lies.

So the financial legacy left for future generations was truncated as we now see for the foreseeable future. No wonder gen Z’ers and others don’t want to get anywhere near the previous borrow and exist, model, cause it is clearly rigged not in their favor. No, the younger generations are trapped in some kind of contractual-freelance-gigging economic future, pretty much building there own survival strategies, not necessarily by choice. Without the deeper end of the last great recession of 2006–2009 many more in the younger generations may have joined that older model that no longer exists.