Seeing as how my daughter has gone through ten years of therapy due to depression I'll throw my hat in the ring and tell you what I think at least part of the problem is:

Late stage, winner-takes-all & loser-gets-nothing, Capitalism.

Those of us who are well-entrenched in our careers may not understand how vicious the world is for the entry-level and those aspiring to launch careers. The secondary schools preach and harp about college nearly every single day. If you don't go to college then expect to work meaningless jobs and live in squalor. I'm paraphrasing, but only a bit.

If you don't know anyone going through today's college admissions process then whoo-boy! There have been a recent spate of articles here on HN complaining about developer interviews and how insane they've become. Multiply the insanity by 10x and then re-label it as college admissions. You'd better have made sure you played the right sport, had the right extracurricular activities, volunteered for the right organizations, and be a candidate for the Nobel Peace Prize. That should at least guarantee you a spot at your state college, maybe even a scholarship or two.

And speaking of scholarships - you need money for college. Lots and lots of money. More money than your parents could have ever possibly saved - and that's if your parents are in the top 10% of wage earners. You're going to be taking out loans, maybe spending a significant part of your adult life paying back those loans.

Why would you do this? You don't want to have a menial job and live in squalor do you?

Meanwhile while killing themselves to get into college they're watching billionaires literally buy the government and pass the laws they want passed. They watch politicians gerrymander so that the majority doesn't actually have a say. They watch a moral minority strip them of every personal liberty they have and tell them how to live their lives.

Oh, and all these assholes are completely destroying the Earth, and their future, without a care in the world for what will come after them. In fact they don't think there's going to be a future because Jesus Christ is going to float down on a cloud and save them all and leave your sorry ass behind to suffer.

And we're wondering, actually wondering, why an entire generation is depressed and apathetic and looking at the older generations with derision.

Meanwhile the depression will continue until they rise up and burn the place down. That is if they're not so downtrodden they can't even lift their heads any longer.

But yeah, let's blame smartphones instead.