Not to mention people are encouraged to do zero planning for the student debts and get pressured by family to buy new cars.

There’s so much of wealth that comes down to lifestyle and educating people on personal finance which would go way farther than just telling people to get a $100k degree and ‘study hard (for rote testing)’. Here in Canada where I live the debt levels are still insane and didn’t decline like the US did, even without the healthcare bills excuse.

Politicians love blaming external factors and rich people/big corporations for all our upward mobility issues, which obviously play a roles but it’s hardly the full story, I’m curious how far we could improve things through culture and how we teach our kids to spend money. This was a personal finance culture that was far more popular in the west in the recent past eras which we people constantly romanticize about and point to different single things to explain it all away (ie unions).

My girlfriend is amazing with money and saves everything, both her parents do the same, which is the opposite of me in my early 20s before I read into it and my parents growing up too. I’m convinced parenting combined with culture (she’s Han Chinese and they tend to be thrifty similar Scottish people and Jugaad in India[1], among others) has a significant impact on these trajectories.

[1] https://en.m.wikipedia.org/wiki/Jugaad