Business The “American Dream” Isn’t Dead - 10-Steps To Achieve It

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The “American Dream” Isn’t Dead. 10-Steps To Achieve It.​

By Lance Roberts | December 8, 2023​

The “American Dream” is dead.

It would certainly seem to be the case if you believe surveys like Gallup that showed nearly 50% of the younger generation favor socialism over capitalism. To wit:

“Since 2010, young adults’ positive ratings of socialism have hovered near 50%, while the rate has been consistently near 34% for Gen Xers and near 30% for baby boomers/traditionalists.”

Or, a more recent WSJ poll conducted by the NORC at the University of Chicago found that only 36% of Americans still believe in the “American Dream.”

But such a dire sentiment should be surprising given the increasing disparity between socio-economic classes. The recent struggles with the pandemic-era driven shutdown, then rising inflation, and spiraling housing costs are certainly reasons that many would believe the “American Dream” is dead.

However, the pessimism about capitalism in the U.S. has been brewing since the “Financial Crisis.” Its early forms started with “Occupy Wall Street” following the subprime crisis and continued growing as political divisions deepened. The rise of civil unrest has deeper roots, as noted by Pew Research in 2017:

“The U.S. economy is in much better shape now than it was in the aftermath of the Great Recession…But by some measures, the country faces serious economic challenges: A steady hollowing of the middle class and income inequality reached its highest point since 1928.”

If you look at the faces of those pushing back, they are of every race, religion, and creed. Their commonality is they are the demographic most impacted by job losses, income destruction, financial disparity, and debt. That inequality gained enormous traction following the Federal Reserve’s repeated bailouts of the financial system. Today, the top 10% of income earners own roughly 88% of financial assets.

More notably, total household net worth has only marginally increased for the bottom 50% of Americans since the turn of the century.

As the “rich” got richer, the masses noticed their economic prospects failed to improve. It should be of no surprise that those most disenfranchised eventually started to push back, demanding more support from the Government.

However, what the media proclaims to be the “American Dream” and what is in “reality” are two very different things.

What The American Dream Is And Isn’t​

The media disparages the “American Dream” based on the ability to buy a home, minimum wages, or healthcare costs.

This is entirely wrong.

The “American Dream” is the idea that the Government should protect each person’s opportunity to pursue their vision of happiness. It is the dream of opportunity, the dream of freedom, and the dream of liberty.

That dream was penned in the Declaration Of Independence:

“We hold these truths to be self- evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.”

The founders of this nation NEVER penned that American citizens had the RIGHT to a house, free health care, or government welfare.

As Kimberly Amadeo previously penned:

“The Founding Fathers put into law the revolutionary idea that each person’s desire to pursue happiness was not just self-indulgence. It was a part of what drives ambition and creativity. By legally protecting these values, the Founding Fathers set up a society that was very attractive for those aspiring to a better life.”

Or, as James Truslow Adams quoted in his book “Epic Of America:”

“The American Dream is that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement. The American Dream is NOT a dream of motor cars and high wages merely, but a dream of social order in which each man and each woman shall be able to attain to the fullest stature of which they are innately capable, and be recognized by others for what they are, regardless of the fortuitous circumstances of birth or position.”

So, precisely what is the “American dream?”

It’s Up To You​

The “American dream” is about the opportunity to achieve a result, not the result itself. Many of the younger generation today feel as if the ability to achieve success is out of reach. According to a 2020 YouGov poll:

“A poll of more than 14,000 people finds that just over half (54%) of US adults think the American Dream is attainable for them. About 3-in-10 (28%) believe it’s unattainable for them personally, while 9 percent reject the idea of the American Dream entirely.”

The American dream was never about being granted a high salary, given an opportunity, or gifted wealth.

However, we were given the “freedom” to start with nothing and, by sheer “will,” create success. For example:

• Jan Koum, CEO and Founder Of WhatsApp, once lived on food stamps.
• Kenny Troutt, the founder of Excel Communications, paid his way through college selling life insurance.
• Howard Schultz grew up in a housing complex for the poor.
• Investor Ken Langone’s parents worked as plumbers and cafeteria workers.
• Oprah Winfrey was born into poverty.
• Billionaire Shahid Kahn washed dishes for $1.20 an hour.
• Kirk Kerkorian dropped out of school in the 8th grade to be a boxer.
• John Paul DeJoria, the founder of Paul Mitchell, once lived in a foster home and out of his car.
• Do Won Chang, founder of Forever 21, worked as a janitor and a gas station attendant when he first moved to America.
• Ralph Lauren was a clerk at Brooks Brothers.
• Francois Pinault quit high school in 1974 after being bullied because he was so poor.

There are millions more like them. The only difference between them and those complaining about the “American Dream” is they had the drive to work, the willingness to sacrifice, and the courage to reach for it.

Capitalism Is Not Perfect​

One thing is for sure. Capitalism is not perfect.

“Capitalism is an imperfect economic system, because differential performance in the pursuit of economic success, as well as luck, results in there being (a) some people who are less successful as well as some who are more and (b) a few who are glaringly successful.’

Obviously, I’m someone who has profited from capitalism, so my views could be dismissed as hopelessly biased.

However, I’m 100% convinced that the capitalist system has produced the most aggregate gains for our society, exceptional overall progress, and a better life for most. For me, the best assessment of capitalism is the one Winston Churchill applied to democracy:

No one pretends that democracy is perfect or all-wise. Indeed, it has been said that democracy is the worst form of Government except all those other forms that have been tried from time to time.

In the same way, I’m convinced that capitalism is the worst economic system; except for all the rest.” – Howard Marks

Due to 50 years of debt, deficits, and ongoing interventions in the financial system, there is a visible gap between the “rich” and everyone else. However, that is not a failure of “capitalism;” it is the byproduct of “corporatism.”

Capitalism is the only system that will allow you to achieve unbridled success.

Yes, the Government can pay for anything you want. We tried that in 2020. The result was a massive spike in inflation, ultimately putting those receiving the benefits in a worse financial condition.

The other problem with “free money” is that requires those who are succeeding to pay for it.

Think about it.

Do you want to work hard, sacrifice, and take on an exceeding amount of risk to achieve success, only to pay for those who don’t?

Such is why socialism always fails.

“The greater good can only be achieved by making the good greater.” – Daniel LaCalle

10-Steps To Achieve Your “American Dream.”​

Let me clarify the issue for you.

“The ‘American Dream’ isn’t going into debt to buy a home. The ‘American Dream’ is the ability for ANY person, regardless of race, religion, or means, to achieve success, and in many cases great success, through hard work, dedication, determination, and sacrifice.“

In other words, anyone can succeed through hard work, dedication, determination, and sacrifice.

I know. It sounds hard. And it is.

Those who achieve success aren’t whiners and don’t blame others for their failings.

They DO SOMETHING about it.

The difference between success and failure is the “will to keep going.”

Therefore:

1. Be accountable for your current situation. Blaming others only keeps you from taking steps to fix it.
2. Your life depends on it, literally. If you don’t take control of your life, it will take control of you.
3. Control your circumstances. Put yourself in a position to control what happens around you.
4. You have to REALLY want it. If you aren’t committed, you are going to fail.
5. Be bold. No one will take you seriously unless you take yourself seriously first.
6. Find a guide. In business, find a mentor to guide you through the wilderness.
7. Are you a “renter” or an “owner?” “Renters” can walk away without consequence. “Owners” have too much at stake to lose. Be willing to commit to everything. If you have no choice BUT to succeed…you will.
8. Be willing to work. Success is not a weekday 9-5 job. It is a 24-7 adventure that will consume your life. If you aren’t willing to “do the time,” don’t start.
9. You probably need to get rid of your current friends. If you want to know where you will be in 5 years, look at who you surround yourself with today. Successful people surround themselves with successful people.
10. Get off of social media. If you want to succeed, get out into the real world and find the opportunities overlooked by others.

The “American Dream” isn’t dead, at least not yet.

But you must decide to take the first step.

 

[Dr. Ricearoni]

If there was a 10 step plan to success do you really think (((they))) would tell you?

 

[Agamemnon Busmalis]

See, if all these people who benefitted from the most unique combination of fortuitous economic circumstances and potential upward mobility in history could do it, why can't you!? Things are exactly like they were in the 1950s-1980s.

Why aren't you paying your way through college selling life insurance?

Other than the WhatsApp guy, every single one of them is a Boomer or even older. Guess we need another world war that destroys 1/3rd of the planet and locks another 1/3rd behind Communism while leaving the US completely unscathed.

Spoiler: Dates of Birth

Kenny Troutt, the founder of Excel Communications, paid his way through college selling life insurance.

Born in 1948.

• Howard Schultz grew up in a housing complex for the poor.

Born in 1953.

• Investor Ken Langone’s parents worked as plumbers and cafeteria workers.

Born in 1935.

• Oprah Winfrey was born into poverty.

Born in 1954.

• Billionaire Shahid Kahn washed dishes for $1.20 an hour.

Born in 1950, immigrated to the US in 1966.

• Kirk Kerkorian dropped out of school in the 8th grade to be a boxer.

BORN IN 1917

• John Paul DeJoria, the founder of Paul Mitchell, once lived in a foster home and out of his car.

Born in 1944.

• Do Won Chang, founder of Forever 21, worked as a janitor and a gas station attendant when he first moved to America.

Born in 1954, immigrated to the US in 1981.

• Ralph Lauren was a clerk at Brooks Brothers.

Born in 1939.

• Francois Pinault quit high school in 1974 after being bullied because he was so poor.

Born in 1936.

 

[Maldron the Assassin]

Information that should scare people. Society is heading to a major reorganization. There's still time to decide what it looks like. If people don't listen they might not like where they end up.

 

[Michael Jacks0n]

And yet a house that was $90k in the 2000's costs a million bucks now.

Your argument is invalid.

 

[Whiskey]

Couldn't every step of that plan apply to that black guy who stabbed that banker to death as he begged his wage slaves for help?

 

[draggs]

It isn't dead while there is still a possibility of Trump winning next year.

It's just been in a coma for every single year since 2000 except the years when Trump was president.

 

[The Nothingness]

Your life depends on it, literally. If you don’t take control of your life, it will take control of you.

Thanks for the sage advice that you would find in a fortune cookie.

 

[Cyclonus]

The American dream. The one where the founding fathers realise they're naked in front of the whole class.

 

[elite_club]

See, if all these people who benefitted from the most unique combination of fortuitous economic circumstances and potential upward mobility in history could do it, why can't you!? Things are exactly like they were in the 1950s-1980s.

Why aren't you paying your way through college selling life insurance?

Other than the WhatsApp guy, every single one of them is a Boomer or even older. Guess we need another world war that destroys 1/3rd of the planet and locks another 1/3rd behind Communism while leaving the US completely unscathed.

Spoiler: Dates of Birth

Born in 1948.

Born in 1953.

Born in 1935.

Born in 1954.

Born in 1950, immigrated to the US in 1966.

BORN IN 1917

Born in 1944.

Born in 1954, immigrated to the US in 1981.

Born in 1939.

Born in 1936.

“The American dream isn’t dead! Look at all these people who are near death to prove it isn’t!”


They say that you don’t use a lot of high school education, but I distinctly remember being taught about the word “journalism”being a synonym for “propaganda” when talking about the Spanish American war

 

[Agamemnon Busmalis]

They say that you don’t use a lot of high school education, but I distinctly remember being taught about the word “journalism”being a synonym for “propaganda” when talking about the Spanish American war

Since 2013 and the passage of the Smith-Mundt Modernization Act it definitely is, and state-funded propaganda no less.

Median house price, Q4 1984: $80,000, 3.59x median household income
Median house price, Q4 2022 (2023 income isn't available yet): $479,500, 6.42x median household income

CPI increase for tuition, school fees and child care, 1984-2023: 7.36x
Nominal median household income growth, 1984-2023: 3.53x

Just sell life insurance to pay your way through college and you'll achieve the American dream, what's so hard about this?

 

[SilentDuck]

The author sounds like a Generation Jones faggot. Part of this clique of rhetorical perverts and parasitic speculators who say unlimited fed money printing, QE, zero interest rates, boomer bailouts and the ensuing explosion in assets held by the {{{chosen groups}}} - and their pet boomers is ideological identical to the very same all-American capitalism preached since forever. They are two entirely different things.

Fuck the line charts, Just say you're a greedy blood sucking faggot that wants something for nothing and to call anyone an UNAMERICAN SOCIALIST if they dare disagree.

 

[Morethanabitfoolish]

Recession redefined, now happiness. Wonder what gets redefined next.

 

[Dialtone]

I can't wait to save up 60k for a down payment on a 300k fixer upper starter home at 8% or more interest so I can live in it by myself while I work 50 hours a week at a job where if you got 25% raises every 3 years it barely keeps up with inflation.

 

[Saddam Hussain Obama]

this is like when mike bloomberg gave advice on how to be rich

"just work more goy"

 

[Megaton Punch]

Median house price, Q4 2022 (2023 income isn't available yet): $479,500

I can't wait to save up 60k for a down payment on a 300k fixer upper starter home

And yet a house that was $90k in the 2000's costs a million bucks now

For as bad as "just sell insurance bro" is, you're not really doing yourselves a lot of favors basically telling on yourselves for refusing to live outside of a city. You can have your ebin street tacos and barcades or you can have affordable living conditions.

Here's a quick rule of thumb: if a starter home in good condition costs over 200k in an area, that area is most likely a bug hive and you should feel bad for wanting to live there.

 

[Would]

The “American Dream” is the idea that the Government should protect each person’s opportunity to pursue their vision of happiness.

Fuck off far and hard.

 

[Dialtone]

For as bad as "just sell insurance bro" is, you're not really doing yourselves a lot of favors basically telling on yourselves for refusing to live outside of a city. You can have your ebin street tacos and barcades or you can have affordable living conditions.

Here's a quick rule of thumb: if a starter home in good condition costs over 200k in an area, that area is most likely a bug hive and you should feel bad for wanting to live there.

The tradeoff is either a 2 hour or more commute to said city regardless, or an expensive house closer to work. If I move anywhere within 200 miles that's the price I pay.

 

[Linako 2.0]

Oh wow, a handfull of people managed to become super rich decades ago while I'm barely able to scrape by to stay afloat by working all day?
Truly the American Dream

 

[Agamemnon Busmalis]

For as bad as "just sell insurance bro" is, you're not really doing yourselves a lot of favors basically telling on yourselves for refusing to live outside of a city. You can have your ebin street tacos and barcades or you can have affordable living conditions.

I don't live in a city, far from it in fact.

The issue is the serious decline in living standards. Prices have exploded across the country due to the enormous expansion in money supply and artificially low interest rates over the past 20 years and incomes haven't remotely kept up. It's finally starting to revert to the mean now that we have a reasonable Fed rate and some reduction in the money supply, but is still badly overinflated in a lot of areas.

The house I grew up in based on its current market price would be impossible to afford today on the income my Dad made back then, adjusted for inflation.

Here's a quick rule of thumb: if a starter home in good condition costs over 200k in an area, that area is most likely a bug hive and you should feel bad for wanting to live there.

I paid just over $300k for mine last year, but I also wanted new construction in a good area.

In my case it was better to wait and buy something new in a good area than make a move a couple years earlier than be stuck with some ugly shitbox from the 1950s-1970s without air conditioning and ancient furnishings and appliances.

Also comes with an HOA which is really nice.