Posted on 04/06/2020 9:23:01 AM PDT by GuavaCheesePuff
The last time a serious economic downturn hit in 2008, Evan Schade was in high school and the crisis seemed like a news event that happened to other people. This time, as the coronavirus has brought the economy to its knees, it has become a personal affair.
When nonessential businesses were closed last month in Kansas City, Mo., where he lives, Mr. Schade, 26, lost his job at a carpet store and almost all of the shifts in his second job at a coffee shop. His girlfriend, Kaitlyn Gardner, 23, was laid off from a different coffee shop.
The money they have in their bank accounts, just over $1,000, is enough to cover only this week’s $800 rent check — forget about his $300 student loan payments or the health insurance he was hoping to finally sign up for. The couple have spent their time at home applying for unemployment and fruitlessly looking for new work.
“I know so many people my age who are going through the exact same thing,” Ms. Gardner said.
The youngest American adults are facing what is, for most of them, the first serious economic crisis of their working lives. By most measures, they are woefully unprepared.
(Excerpt) Read more at nytimes.com ...
Wow and its a story about heteros
boo hoo.
Welcome to the Carter gas lines times.
What was his major in college? He’s now working in a carpet shop and Starbucks. Not to sound elitist, but I don’t think either require a 6-figure college degree.
Too bad for them China lied about the danger until it was too late to do anything about it. They’ll probably blame Trump for it though, whatever.
Maybe this will help (It’s a video animated graph):
https://twitter.com/i/status/1246548366454149120
This generation is screwed. Great Depression style screwed.
And I have six kids and five grandcids. I feel for them.
Every story an excuse to promote student loan forgiveness.
Well i’m not a young adult but I’m doing better than usual during this thing.
I do online work and there’s been SO MUCH MORE of it the past few weeks
I think people in their 30s are still young adults, any they're facing their second serious economic crisis.
Not only that, but they'll be stuck with the tab for this $2.2 trillion "stimulus."
My first thought as well. Teeing it up for the next 2.2 trillion Wuhan Flu virus bill.
Why boo hoo......not every American has it good right now.
That’s all right.The government can continue wrecking our dollar with these stupid multi-trillion dollar spending bills.Not that this one is’nt really needed especially after the public was pretty much ordered to stay home.
Hopefully this economy has a quick positive turnaround.
Folks this is a real pandemic. You survive until it runs its course and then you have to hustle. You have the state unemployment plus the federal programs to tide you over. They will live, but that’s life.
“Every story an excuse to promote student loan forgiveness.”
Agreed.
Some Freepers might not agree with this idea - but I’d like to give some of these kids the opportunity to work part of their loans off.
Straight public service - working at food shelves or soup kitchens, picking up trash in parks and repairing playground equipment, mowing lawns and doing yardwork for senior citizens and the handicapped, etc.
There’s no way in hell I’d ever agree to straight loan forgiveness though.
Sorry to hear about your daughters. Our only kid learned how to cook for herself, and she was doing this in college, making food stretch for a couple of meals. She still does that now, not because it is cheaper, but because she likes the food and she's been busy with work and it saves time. She even learned from our days in the Bay Area from being prepared for an earthquake, and she had a good amount of food and supplies when the SHTF. She says "she learned from the best". She really is a great kid.
Society has to learn, at the level of individuals, that debt is a bad thing and to avoid it.
This will requires many people learning the hard way and teaching their offspring the lesson.
The best thing that could come out of this, I think, is an understanding that large education debts without a real solid prospect of a high-paying job just leaves a person very fragile.
Avoid the debt. Just get a job. Society needs to stop acting like a college degree is important. For most people, it just isn't anything special.
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