I don’t think that’s necessarily true. Things have just gotten so ridiculously expensive that it’s hard for the millennial generation and the generation following them to achieve the same American dream their parents and grandparents had. They’ve been taught they need to get a college degree to get ahead. They go to school and end up with 30k in student debt. So they’re starting out behind. If they get sick they’re going to go even further into debt. A dollar doesn’t go as far as it used to. Wages haven’t really kept up with inflation. When they do get into the workforce they’re stuck paying into a tax system that isn’t going to end up benefiting them (social security). Their wealth is being transferred to the boomer generation and beyond to pay for their mistakes. I can understand why they’re turning more and more to socialism.
As for @toonkee’s question about the rise of Nationalism globally it is the result of a few different things depending on where its happening. The rise in nationalism in Europe I think a lot of it stems from the influx of refugees from the Middle East. Humans are tribal in nature and we traditionally want to be around people that look and believe like we do. Europe has been primarily a homogenous population for most of history and the indigenous population feels their power eroding due to immigration and low birth rates. I think in the United States that is part of what’s causing it but it’s more along the lines the middle class feels more and more left behind in the new economy they’ve seen many of their jobs exported overseas and many others believe (mostly wrongly) that immigrants (specifically illegal immigrants) are taking their jobs. So protectionist and nationalist policies can be seen as a appealing to those people which is ultimately why Trump won in the rust belt states. People who feel left behind in the new economy don’t give a shit about things like gay rights or gender identity when they can’t find a job to match their skill set and are struggling to feed their family. This is also another reason why socialist policies, in addition to what I mentioned above, are gaining traction.
Edit: Also, the European homogenous populations is why it’s easier for them to support socialist policies. It’s human tribalism. It’s easy for people to get behind supporting others when they all look like, sound like and believe similar to you.