We're in that time of year,
where if you have kids or
if you are a kid, first of all,
why are you watching this?
That seems weird, but you're
probably going back to school and
you will find that there's a lot of
things that you need to purchase.
And those things are becoming more
expensive.
So apparently 1 in 3 parents said,
schools are asking them to buy more
items this year ranging from hand
sanitizer to laptops.
That's on top of the basics,
like crayons, markers, notebooks.
And pencils.
And in fact since the start of
the 2019-2020 school year before
the pandemic parents spending on
school supplies has jumped 22%.
And you can take a look at
this chart showing how it has grown
slowly over time, up to nearly
$1,000 which really does sound
a lot more like college spending.
I mean, that is what I
would expect.
And I'm probably going to date
myself a little bit, but
that's what I would expect for
like college books.
How could it possibly be $850 for
regular school supplies, and so
we're going to have some more
information here and
about how much of a burden is on
these families, but Michael,
I know that you have children.
>> So what do you think about this
about the growth?
>> I have child,
>> I was being purposefully vague
because I didn't want to give
more personal information about
you that I need to.
So, I decided to broaden it,
but >> it's outrageous and P, but
it's, it's not really this
hand sanitizer,
that's putting people over.
It's the continued rising,
And the lack of any kind of cost of
doing business adjustment for
schools that these companies
are passing down to parents who can
ill afford to do it.
Especially in a pandemic when many
of them have lost their livelihoods
or are Public assistance or
are not able to pay their rent and
in fear of losing their homes
because of eviction, moratorium
lapse, or have to pay their own
student loans from when they were
students that they can't afford
because they don't have these jobs.
The cost of living in America
has to be adjusted and
it has to start at school.
And that's where it's most needed.
>> Yeah.
Well, let's talk about that needs.
So apparently this is a lending
tree survey of 1000.
Parents with kids under 18.
One and three parents of school
aged children expect to go into
debt when shopping for
back to school.
That percentage has consistently
risen over the past three
years from 26% back in 2019 to 30%
in 2020, and now 33% In 2021, and
I guess in hindsight shouldn't be
surprising and we know it.
We've seen those numbers of like
the nearly I think it was a half of
Americans who would go into debt.
If they had a sudden $450 expense.
I think that's something like
the numbers that I've seen.
Well, yeah, if it's $1,000 that is
going to cause them to go into debt
and like, it's not because they've
been financially irresponsible,
it's not for some luxury.
They're not buying the new Samsung
Galaxy fold three or whatever.
It's to buy crayons and markers and
maybe a Trapper Keeper or
something like that.
I don't know if there are any plans
for the federal government.
Like everyone's working on this
right now to potentially help.
But I think your point Michael is
totally true.
Like we need to start caring more
about these sorts of non-optional
costs all the way back to
kindergarten and
that sort of thing.
>> Yeah, and
also this is a perfect place for a.
When we talk about corporate
responsibility.
Here is a perfect place where
Amazon Can step in by the way, and
or something like Amazon,
whether it's Walmart,
whether it's smaller companies, but
let's talk about Amazon and Walmart
and step in and do some sort of
give back on these items and
Britain mark down these items and
take the onus off of parents while
still having some corporate and
ethical responsibility.
You talked about demonizing
billionaires.
I don't really love that
conversation.
But holding their feet to the fire
to do things that can make things
better, and Amazon which just
passed Wal-Mart as America's
biggest retailer is, in fact,
the perfect place to start but
the federal government should step
in and there should be some kind of
a voucher program that helps these
parents to get their kids in school
and not go into debt.
33% of parents go into debt,
back to school things.
That's just terrible.
>> Also, we need to talk about
the way you pronounce CRAYON CRAN.
>> Crayon.
>> What do you say?
>> Crayon.
>> I don't like being targeted
in this way.
because I see it in the chat, too,
and in Twitch.
You're all attacking me.
Well, how do you say it.
>> Crayon, the way it's spelled.
It's not spelled, there's an A-Y,
there's a Y-O in there.
It's not C-R-A-N.
>> I acknowledge the spelling.
I'll also point out,
it is entirely possible
that is the first time I've had to
say that word in 20 years [LAUGH].
I feel very targeted.
This is bullying.
Okay, and I'm not going to take it.
Anyway.
Crayon, whatever.
People attacked me for
I always say water.
I'm from Connecticut.
Whatever way we say it That is
actually the right way.
>> All of you have a problem your
problems are different.
>> You say water?
>> How do you say water?
>> Water?
>> What do you say?
>> I say water too,
because I'm from New York,
which is right, Connecticut where
people say crayon, not CRAN.
>> [LAUGH] I live in a particular
valley where we have our own
cultural and linguistic traditions.
[INAUDIBLE] >> Bridgeport.
>> I know that >> [LAUGH] Thank you
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