“This is a painful and difficult time that is impacting all of us at once.”
True, all of us are experiencing it “at once.” But not all at once. While it’s important to help young people who expected to be upwardly mobile that their joblessness and debt are not their fault, it’s equally important to point out that what they are experiencing is not new and their situations are not unique. For millions of people of color and white working class people, the disappointed expectations you describe have never existed. Even when we were being told about the endless possibilities of high tech and the future in which we would all be wealthy beyond our wildest dreams, unemployment in cities and rural areas continued to be three, five, ten times that of the national average.
Yes, it is true that capitalism has lost its ability to extract profit from production and is now a drag on human productivity and a threat to the future of the planet. This is a system that has exhausted its historic project and is doomed to be replaced. But for much of the world, capitalism was never anything other than exploitation and oppression.