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Millennials are Caught in the Two Recession Trap: Punished by the Great Recession and now the Great Pandemic
My Budget 360 Blog ^ | July 29, 2020 | MyBudget360

Posted on 07/29/2020 7:25:45 AM PDT by Diana in Wisconsin

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1 posted on 07/29/2020 7:25:45 AM PDT by Diana in Wisconsin
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To: Diana in Wisconsin

” they forget that many decades ago a one-income household was enough to purchase a home or that you could work a blue collar job and support a family”

Yup. That’s the reality they face.

When you pour 60 million people into the country over a 40 year period and keep letting in 2 million more every year it ends up in absurd prices for housing and low wages because of the intense competition.


2 posted on 07/29/2020 7:33:09 AM PDT by Regulator
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To: Diana in Wisconsin
The financial destruction being caused by the pandemic is shattering already fragile household budgets.

Bull Schiff. The financial destruction is being caused by Democrat and RINO politicians that have created the shutdown of the American economy based on a hoax.

3 posted on 07/29/2020 7:33:23 AM PDT by ConservativeInPA ("War is peace. Freedom is slavery. Ignorance is strength." - George Orwell, 1984)
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To: Diana in Wisconsin

That second graph is interesting all by itself. Seeing age bracket participation by industry. And it makes sense seeing the differences.


4 posted on 07/29/2020 7:35:26 AM PDT by BBQToadRibs
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To: Diana in Wisconsin

“A generation ago, you could work summer jobs on a paper route and pay your way to school.”

Huh? I had a paper route. In Jr. High school. Two generations ago, when college was cheaper than one generation ago. You couldn’t pay your way through anything. And you can’t get a “summer job” on a paper route, because the guy doing it the rest of the year wouldn’t let you have it. I did have a friend do my route for a couple of weeks in the summer when I was away, but that’s it.


5 posted on 07/29/2020 7:36:11 AM PDT by Flash Bazbeaux
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To: Regulator

When you import FOREIGN NATIONALS to take middle class jobs from Americans via H and L work visas then this is what you get eventually - socialism on the road to eventual a one party communist state.


6 posted on 07/29/2020 7:36:48 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: Diana in Wisconsin

There are certainly a lot of silly young people causing trouble and being jerks.

But not all young people are like that. I really do feel bad for the Millennials and those who are younger. You can trace the rot back a great many years, but to grow up in a world that knows only Bill Clinton, 9/11, the Great Recession, Barack Obama’s fundamental transformation, and COVID-19, you really have to feel that these people have the deck stacked against them.


7 posted on 07/29/2020 7:37:08 AM PDT by ClearCase_guy (If White Privilege is real, why did Elizabeth Warren lie about being an Indian?)
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To: Diana in Wisconsin

I think about these young people but at least they have time to recoup, given a decent government that creates opportunity instead of taxing it out of existence.

I also think about the people in their 50’s and 60’s who are making the big savings push for retirement and are losing years that can’t be made up. There’s not enough time for them, unless they work well past than normal retirement age.


8 posted on 07/29/2020 7:37:27 AM PDT by SaxxonWoods (Prediction: G. Maxwell will surprise everyone by not dying anytime soon.)
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To: Diana in Wisconsin

The Democrat Party in America is the main catalyst for all this crap unleashed on us and the world as a whole. All this to defeat one man! They’re hiding things so scary and treasonous in nature that they are afraid to feel the wrath of the American people, and will do whatever it takes to beat Trump on Nov 3rd.


9 posted on 07/29/2020 7:38:00 AM PDT by dowcaet
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To: central_va

FOREIGN NATIONALS to take middle class jobs from American

Democrats logic of their quota system.


10 posted on 07/29/2020 7:41:48 AM PDT by Vaduz (women and children to be impacIQ of chimpsted the most.)
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To: Regulator

Indeed the real root of the problem far to many things are sold for a vote.
Americans are under the 60% mark doesn’t look like any changes coming down the pike any time soon.


11 posted on 07/29/2020 7:44:20 AM PDT by Vaduz (women and children to be impacIQ of chimpsted the most.)
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To: Diana in Wisconsin

“A generation ago, you could work summer jobs on a paper route and pay your way to school.”

I payed my way through (State Uni) school 1984-88. Worked 15 hours M-F in the Uni library and 16 hours Sat-Sun as a line cook, took out student loans, and worked 30 hours/week through the summer while also in summer school. Graduated with 10k in student loans. But tuition was still reasonable. I doubt you could do that now. Maybe at a small community college or online college.


12 posted on 07/29/2020 7:44:38 AM PDT by BBQToadRibs
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To: ClearCase_guy
but to grow up in a world that knows only Bill Clinton, 9/11, the Great Recession, Barack Obama’s fundamental transformation, and COVID-19, you really have to feel that these people have the deck stacked against them.

...shortages of basic supplies such as food, weapons, and blankets, British blockades and occupation, cold winters and disease, no basic utilities, TV or internet...oh wait, that was 1775. Yeah, todays youth face so much worse, have to feel sorry for them...[:o

13 posted on 07/29/2020 7:46:49 AM PDT by Magnum44 (My comprehensive terrorism plan: Hunt them down and kill them.)
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To: Diana in Wisconsin

The moronic, Marxist millennials want this country (and western civilization as we know it) destroyed. Many of them deserve what they get if not worse. The few of us millennials that aren’t on board and are still with reality are going to have some difficult years ahead.


14 posted on 07/29/2020 7:49:40 AM PDT by Stravinsky (Politeness will not defeat the Marxist revolutionaries)
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To: Diana in Wisconsin

Article’s 1st point. Many decades since one income pays all the bills. This has been true throughout my lifetime.

Article point #2 - paper routes/odd jobs to pay for college. Only for community college and that was ~ 40 years ago.

Re: $60k+ /yr cost. Choose wisely. State schools are less than 1/2 that. You can still get a first class education in a good research university. I did.

Re: Millenial whinging - why should I pay attention to someone that says “OK Boomer” to me?


15 posted on 07/29/2020 7:50:00 AM PDT by sauropod (I will not comply.)
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To: Diana in Wisconsin

What many believe to have been an orchestrated financial collapse, followed by what many believe to be a sham health “crisis”

Let’s hope the kids are smart enough to figure out that conservatives didn’t want either one.


16 posted on 07/29/2020 7:54:47 AM PDT by BenLurkin (The above is not a statement of fact. It is either opinion or satire. Or both.)
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To: SaxxonWoods

“I also think about the people in their 50’s and 60’s who are making the big savings push for retirement and are losing years that can’t be made up”

Being laid of or injured after age 50 today is a near death sentence.

An acquaintance lost his middle management job at age 54 in 2009 collapse. No one wants to hire a white male at that age. He was the prime breadwinner. They have since burnt through much of their retirement savings. He does work 2 p/t jobs no benefits. No one will give him f/t due to health insurance cost.

I am 58 and wanted to sell my business last year due to burnout. I have 2 degrees and tons of certifications and training. I am fit and no drug use etc.

Zip zero nada. Zero chance on getting hired f/t with benefits unless I wanted to sell cars.

Kept my business and still plugging away.


17 posted on 07/29/2020 7:55:41 AM PDT by setter
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To: SaxxonWoods
'I think about these young people but at least they have time to recoup, given a decent government that creates opportunity instead of taxing it out of existence.'

The yoots these days are starting with trillions of trillions on their backs in debt. Politicians of all stripes promise the moon and add debt to the future. AI, global wage arbitrage, debt, outsourcing, etc. The yoots are screwed.

18 posted on 07/29/2020 8:00:39 AM PDT by Theoria (I should never have surrendered. I should have fought until I was the last man alive)
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To: Diana in Wisconsin

People always cry about how hard it is now. No doubt. But what they forget is many had homes much smaller than today’s standards. Many households had 1 car, not a car for every family member, including teenagers. 1 phone, no cell phone, no daily starbucks. Materially, families have much more and expect much more.

When I was a stay at home Mom, no income, our lifestyle was much less extravagant.


19 posted on 07/29/2020 8:02:23 AM PDT by Trumplican
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To: ConservativeInPA

If people are making more on unemployment than they were working, how can they not be paying their BILLS??!!!


20 posted on 07/29/2020 8:03:10 AM PDT by Trumplican
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