Posted on 04/13/2020 12:50:24 PM PDT by C19fan
Hello, lost generation. The Millennials entered the workforce during the worst downturn since the Great Depression. Saddled with debt, unable to accumulate wealth, and stuck in low-benefit, dead-end jobs, they never gained the financial security that their parents, grandparents, or even older siblings enjoyed. They are now entering their peak earning years in the midst of an economic cataclysm more severe than the Great Recession, near guaranteeing that they will be the first generation in modern American history to end up poorer than their parents.
(Excerpt) Read more at theatlantic.com ...
My kids are 25 and 23. We told them the whole time they were in our house, “You don’t work, you don’t eat” and enforced it.
They learned that lesson well.
“The very worst on FR make Biden seem like Mark Twain.”
I give most a pass but this one was (apparently) condemning higher education.
My millennial oldest son is doing great. He’s 23 and got a BS in Economics and works for Wells Fargo remotely. He makes a great salary and proposed to his girlfriend on the same day CA “shut down” (memorable proposal). He’s doing all the right things.
The Greatest Generation-
“That generation somehow managed to do all right for themselves.”
Horsehiite-
Their crooked parents voted for an EFFIN COMMUNIST for President 4 times!
The “Greatest”s that come home, physically and mentally intact, had the world by the ballllls.
They started in a world where the US was the only thing standing.
Beautiful women from around the world would marry you, and put up with all kinds of garbage even if you were an otherwise worthless slug just to get here.
Minorities and women were pushed aside in the workplace just for you.
GI Bill gave you free college.
VA mortgage essentially gave you, a nearly free house.
Industrial Union jobs with pensions.
Taxes were nearly ZERO for the average working man (one income was enough).
Everything was being built, NEW everywhere, not the rundown crapola that is there today.
NYC was safe-
California was truly the Golden State.
This list could go on and on.
It was golden if you were a white, healthy, male veteran with just a little built of drive.
Black? Screw you.
Women? Hubby could beat you and his Vet buddies on the force would let it go.
Mental health impaired from the war? Plenty of Nut Houses to lock you up in.
Could start an essential business with a dollar and a dream. Now that’s just the Lottery slogan.
Go ahead, Flame away.
You had your turn, raised a bunch of the original spoiled brats (Boomers), and very nearly wrecked the hole thing.
NEVER FORGET IT.
Don’t worry, we’ll fix it, you just remember to say “Thank You”.
“You had your turn, raised a bunch of the original spoiled brats (Boomers), and very nearly wrecked the hole thing.
NEVER FORGET IT.
Don’t worry, we’ll fix it, you just remember to say “Thank You”.”
They are almost all dead, your inferiority complex is wasted on them.
What a bunch of Hog Wash!!!
yeah, boomers ran this country into the ground, and it will be us millenials who will need to cut their own benefits while ramping up taxes to pay for boomer social security and medicare benefits.
that’s life and there’s no changing our historical deficit problems now, but i’ve basically stopped listening to boomer political advice seeing as how all of this is their fault to begin with.
So you are asserting that those responding to this article grew up given great advantages, lived in prosperity and peace...and recieved some inheritance?
And if you are not asserting that then...why golly...that makes you every bit as nasty you are asserting others are.
Your complete pretentiousness fails to impress.
Ok, doom and gloomer.
Heh, heh, when you mentioned Louis Rukeyser, I had to go to youtube & listen to WSW’s opening theme with its rhythmical ticker machines. It was like listening to money in the process of being made.
Still miss Louis’ puns, his Elves, and his skeptical view of government.
My time’s about up; I don’t envy Millennials and wouldn’t be one just to be young again, not for all the tea in China.
Three of my four are millennial age, the fourth is called Generation Z. He’s 20.
He’s not working right now and living in Grandma’s basement. The reason he’s not working is Gretchen Whitmer shut down the state.
He is a trucker and was driving for a construction company that was horribly managed right into bankruptcy. His boss called a lumberyard and told them he’s the hardest working kid he knows. He was hired without an interview. They even bought him a new semi tractor. Then this.
The others remain fully employed, two are clearly essential and will make it through this just fine.
I’ve lost jobs during the past two major recessions and had to essentially start over each time. So what?
This is not a 2-3 year recession. It’s a major blip. The economy should be humming strong in a couple months.
I do events for my company. Starting to make calls to start figuring out how to get them going again and hit it strong as soon as restrictions are lifted.
Grandma never got a $1200 check during the great depression. There was no unemployment check either. I see “now hiring” signs at retail stores right now if anyone is interested.
OK, if i’m dooming and glooming, what is your solution for fixing our structural budget deficits and national debt?
option 1:cutting social security and medicare and raising taxes
Option 2: print more money.
As bad as option 1 is and as mad as i am that boomer foolishness made it necessary, it’s hell of a lot better than option 2.
My daughter worked her way through community college to earn a certification in Respiratory Therapy. She checked the salary and demand before she entered the program. Graduated debt free and started at 45K per year. Not her “dream job” but it’s getting her where she wants to go.
I liked Louis Rukeyser. I listened to him back in the 1980’s.
He used to have his father come by sometimes to share his take on the markets at that time. Louis was an easy going personality working with a very complex view of financial tools and tendencies. He was almost never boring, and I hate most math.
I don’t know an answer at this point in time that would be politically viable.
Given the current state of the market, one could privatize, social security, medicare and medicaid by allowing people under a certain age to invest most of their contributions in private investment accounts and means test the benifits for people older than that age. Unfortunately, most people are totally incapable of putting a dollar in their own pocket without it burning a hole in their pocket and older people would never accept a reduction in their “benefits”.
My only other suggestion would be to cut the federal budget in half and eliminate all unnecessary programs. So much of the Federal Budget is wasted on unnecessary and unconstitutional programs.
Just trust God, don’t be in debt, save pennies, and people can weather storms.
That generation enjoyed the American Heyday. As has been pointed out here, when the dust settled and the smoke cleared from the Second World War, the United States was the only western power standing. Anybody in the world who wanted anything had to buy it from us. And while our former enemies and our allies spent a generation rebuilding their countries and their economies, the United States middle class exploded in size; the economy of that time was ONLY going to go up.
Don't swallow the hook.
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