After nearly two decades of growth following the 2008 financial crisis, America appears to be reluctantly entering a much-needed economic correction. Compensation growth in key industries like financial services and technology has finally stalled, the prices of luxury goods are falling off a cliff, and the outlook for the average American hasn't been this bleak in a long time, which is no surprise.

More than 48% of AMERICAS earning $100,000 or more in direct pay, while that figure still remains at an astounding 36% for $200,000 income earners. Times are tough.

Millennials and young adults are disproportionately affected. Despite being more educated and skilled than previous generations, more than 75% of millennials live paycheck to paycheck. Younger generations are also less likely to own property or start families due to rising interest rates and inflation.

Of course, help is on the way Jerome PowellJackson Hole's Last Remarks; however, easing monetary policy is unlikely to stimulate the same opportunities for wealth creation that boomers experienced after the financial crisis. We are reaping the consequences of the short-sighted desire to unsustainably inflate the markets. This has created the mess we see today.

Because interest rates have been low for so long, most homeowners are likely sitting on significant equity financed at rates they may never see again. For them, the last few years have been a few seconds of turbulence in a flight to financial freedom and prosperity. Meanwhile, young people are confused about what to do next. To put it bluntly, the boomers aren't selling their homes, the dollar is losing value as we speak, and America is slowly becoming the land of diminishing returns, well beyond opportunity. In essence, this is the birth of America's dual economy.

Related: The next victim of inflation will be your freedom

Why “six figures” isn't what it used to be

Climbing the corporate ladder to senior management represented the pinnacle of success for as long as the millennial adult can remember. He embodied the privileged but “successful” growing phenotype that began ca The pinnacle of America. Millennials reading this know all too well the time I'm talking about—maximum nostalgia.

In what feels like a shorter time than the prime of an early 2000s MTV reality show, $100,000 suddenly became no so much the money. Don't get me wrong: $100,000 is still a lot of money. Truth be told, $100,000 is enough to provide a modest living for a growing family in more than 75% of American cities, give or take.

In parallel with the insatiable growth experienced by various industries, American culture has developed a similar ambition for endless and unsustainable growth. Globalization and the spread of social networks expanded the horizons of what luxury looked like even for the privileged and well-traveled elite. This coupled with capitalist greed created a hamster wheel of inflated expectations. The pillars of what counts as “success” have shifted dramatically. Unfortunately for all of us, the definition of success seems to be much bigger than $100,000.

Related: Don't Blindly Follow the Herd – 5 Reasons Entrepreneurs Should Chart Their Own Course

Capitalism… Markets… Regulation… and Incentives

Millennials witnessed what felt like 90% of America's growth unfold in our lifetime. We saw the birth and adolescence of the personal computer and the iPhone. We saw the introduction of entirely new technologies like blockchain, AI, distributed markets, gig economy ecosystems and more. Can you imagine telling your childhood self that you could get a device half the size of a Game Boy and order almost anything to your door within minutes? Of course not.

What came of this acceleration of innovation was the creation of millions of jobs uniquely suited to the tech-savvy millennials entering the workforce. You could compare the endless soft tech jobs popping up overnight to the California Gold Rush. America produced the most ambitious yet materialistic generation of twenty- and thirty-somethings we have ever seen. Everyone had money in their pockets and were looking for a good time. Corporations saw a perfect opportunity to make money from this new segment of the American population, but regulators struggled to keep up.

Related: Breaking the Bank: America's Multi-Trillion Dollar Banking Problem

Of course, some young people may need to take personal responsibility for their bank balances being very tight at the end of the month. Not everyone can or should buy a $50,000 depreciating asset, nor should it be common to max out your credit card to finance that summer trip to Europe. But most people don't live their lives that way. The government is responsible for ensuring that the essentials of life, such as home ownership and care, remain attainable and are life goals worth working towards. In many parts of the world, this is not a controversial opinion. It's similar to how pressure from whistleblowers and the US government has forced social media companies to take steps to protect the safety and well-being of their users.

Americans' expectations have changed, social media platforms have grown, and so have Americans' expectations of how to protect the safety and well-being of their users. As these platforms grow, social media expectations tell many Americans that it is similar Vacation and the government. Media companies have had to take steps to ensure their platforms protect the safety and well-being of their users as these platforms continue to grow.

From price spikes fueled by global Black Swan emergencies to Wall Street's unfettered access to housing supply, the whiplash and disillusionment faced by younger generations have underscored the wealth gap that has set in. inevitably duplicate the American lived experience.

CONCLUSION

In the context of human civilization, rule #1 has always been: don't die. Humanity, at its core, is about survival. Central to our survival are love, prosperity, friendship, and the countless characteristics that separate us from other creatures on Earth. Generations come and go, but the human experience is constant.

Today, America is at its most apathetic point in history. Don't get me wrong, America is still great. For the foreseeable future, it looks to be one of, if not the best, places to live. But it depends on the pride of its inhabitants. It is the expectation that future generations must carry the torch and push America to new heights.

The declining birthrate should be seen as an indicator of what America's survival spirit will be like for generations to come. Our background is what motivates us to keep going. The fact that society has broken down to the point where future generations question whether they want to uphold that honor and whether they are responsible for doing so is disturbing. Meanwhile, the luckier side of the economy looks forward to that of the Federal Reserve rate delay reduction so that the rest of the economic growth to which they are financially exposed can be added to this already staggering distribution of wealth.

It is profoundly strange that America does not understand that wanting everything will eventually cost us everything. Now more than ever, America must save itself. If not, the next 20 years are likely to be even more challenging than the past.