Spending & Saving Habits - Gen Z's overall spending decreased by 13% between January and April due to cost of living challenges, economic uncertainty, and inflation [1] - Gen Z is building emergency accounts to buffer potential job loss, aiming for a few hundred to a couple thousand dollars in savings [3] Employment Concerns - Gen Z is not only afraid of losing their jobs but even more afraid of not finding another one [2] - AI is contributing to Gen Z's concerns about getting a job, getting promoted, and gaining responsibilities, especially in the first year or two after college [12][13][14] Financial Outlook & Support - Over 60% of Gen Z supports universal basic income [15] - A majority of Gen Z does not believe they will ever be able to afford to retire [15][18] - Parents of Gen Z are increasingly under financial stress, impacting their ability to support their Gen Z children [5] Generational Differences & Workplace - There's a dislocation within Gen Z, with some members progressing while others struggle, creating challenges [7][8] - The industry believes Gen Z is miscast, as over 70% believe being a loyal employee means working at least one year at an employer [21]

Market Outlook - The current market sentiment is characterized by complacency, but a meltup is considered more likely than a drop, with a bullish scenario having a 50-55% probability [2][4] - The S&P 500 is projected to reach 7,000 by the end of the year and potentially 7,700 by the end of next year, with a meltup scenario suggesting a rise above 7,000 [5][4] Economic Indicators - Recent inflation numbers have been cooler than expected, contributing to a positive market outlook [1] - The economy has shown resilience, with real GDP growth exceeding 3% in the last two quarters, indicating strong economic performance despite labor market issues [9][10] Interest Rates and Employment - Anticipated rate cuts by the Federal Reserve are viewed as unnecessary, as they may not significantly stimulate demand or job creation [6][7] - Labor market challenges are attributed to supply-side issues, including immigration and the retirement of baby boomers, rather than a lack of demand [10][9] Trade and Tariffs - The administration is reportedly rushing to finalize trade deals before potential Supreme Court rulings on tariffs, which could impact market stability [15][18] - A significant amount of revenue from tariffs, estimated between $350 billion to $450 billion, could lead to complications in the bond market if companies seek refunds [19]

“Labour automation isn’t just an economic problem; it’s also a political one,” write Raymond Douglas and @DavidDuvenaud in a guest essay. The two scholars argue that “in a world of AI-powered universal basic income, the opposite would be true” https://t.co/ESXCCKbu7A ...