As a Gen Xer myself, they do have a point.
Tuition adjusting for inflation was vastly cheaper in the 70s than it is now.
Houses as measured by % of average wages were also significantly cheaper than they are now.
We also had not imported an absolute flood of cheap labor via illegals for blue collar workers or massive abuse of H1b and other such work visa programs for white collar workers. Of course this has depressed wages just as the Cheap Labor Express crowd intended.
There hadn’t been much outsourcing so there were lots of pretty well paying blue collar jobs in factories.
The stock market grew an average of 20% per year from 1980 until 2000. Anybody investing then got a bonanza.
I don’t say any of this to demonize Baby Boomers or blame them for everything.......but damn, y’all got a better deal than those who followed in many ways. When Millenials complain they’ve got it tougher......it’s true. They do. Yes, technology is much better today but economic conditions for younger people especially aren’t better. They’re worse.
“Tuition adjusting for inflation was vastly cheaper in the 70s than it is now.
Houses as measured by % of average wages were also significantly cheaper than they are now.”
Yep, The minimum wage I earned in 1978 is about $14.50 an hour today based upon cpi inflation calculator.
My neighbor was a Monkey Ward manager and he offered me a job in 1980 working in the local warehouse-a flunky job. $6.75 hour plus full health, life and dental insurance and a small pension plan.
I believe that 6.75 is equal to about $22-23.00 hr today.
I declined and went onto college.
The young folks do have it rougher. I feel for them.