Zero Hedge— Time and time again, we’ve discussed how America’s millennial generation is burdened by debt, effectively precluded from home ownership and increasingly disgruntled and pessimistic about their future prospects for wealth and happiness.
n its latest Global Wealth Report, Credit Suisse said the millennial generation has faced “a run of bad luck”, much of which was centered around the financial crisis.
“The “Millennials” – people who came of age after the turn of the century – have had a run of bad luck, most clearly in developed markets. Capital losses in the global financial crisis of 2008-2009 and high subsequent unemployment have dealt serious blows to young workers and savers. Add rising student debt in several developed countries, tighter mortgage rules after 2008, higher house prices, increased income inequality, less access to pensions and lower income mobility and you have a “perfect storm” holding back wealth accumulation by the Millennials in many countries.” MORE
Millennials are worthless in comparison to the Greatest Generation in America.
Lazlo propose a change to the societal norms, as it pertains to Millennials.
A new greeting is in order.
“You’re all worthless and weak!” should do nicely
I would say, “Been there, done that”, except that I am there, doing that. That’s what I get
for having a late-in-life baby, though. I blame my parents for setting a bad example (me).
I’m hoping that at least one of my kids (Gen X or Millennial) will come visit me in the nursing home someday.
🙂
Just one in four?
It depends on what those bills are.
Tuition and rent is one thing, but if it’s for American Express, Spotify accounts, expensive clothes, cable, iPhones, hair and nail appointments… I know those types of people. They are a little older now and have not changed. lol
Don’t send your children to schools which have SJW type classes. Waste of money.
And yet, many of them want MORE government intervention in their lives, not less. When you’re drowning, more water is not a good idea.
Perhaps if they learned a needed skill – electrician, plumber, carpenter, etc. – they would make more money than a ‘would you like some fries with that’ major in Gender Studies. I guess that takes more energy, drive and effort than they possess.
A couple weeks ago an article circulated around financial circles (I believe it was on CNBC). It stated millennials prefer luxury big houses. Since there are only so many luxury big houses, many millennials aren’t able to purchase what they want. The article made millennials as a group that can afford whatever they want, but on housing the market simply can’t supply them.
That’s quite a 180 from this.
Mike Rowe for President.
I have a 4 year degree that is useless as a primary source of employment. I went back to school ato a community college and got my associates degree in nursing. Some still view nursing as a trade. Others argue that it’s a profession.
I could give two shits either way, trade or profession. Ironocally my 4 year degree now serves to supplement my employment that is supported by my associates degree.
Don’t pissed and moan that you’re stuck. Go back and fooken’ repurpose yourself. You only have yourself to blame for picking the wrong career path.
A substantial part of the debt problem comes from mindlessly believing the hype about going to college. Millions of youngsters (most are not yet men or women) go to college believing it is a good investment of time and money and that a degree will set them up for a nice middle class or higher life.
It isn’t, at least for a large majority of them. They end up wasting several years with which they could be getting work experience and perhaps OJT or even classroom training paid for by the employer. Those who go to work instead end up four years ahead of the numbskulls in college getting their degrees in intersectional gender role discrimination studies and learning nothing about how to actually think and learn in general. Mostly college teaches them to be toadies. Sucking up to the prof/TA I suppose is good training for sucking up to their future fast food manager bosses.
And the way student loans work exacerbates the problem: if you don’t have to begin repaying the loan until you stop going to school, you have a strong incentive to stay in school and to continue building up an even higher shit-pile of debt. Not to Mention putting yourself even farther behind those who went to work instead and dedicated themselves to being productive at the same time as learning how the real world works and how to work in the real world.
You people are harsh. This isn’t the same world we grew up in. Job applicants are screened by computers. White, Christian, male, American born, non-spanish speaking, conservative, hobbies include hunting, fishing, cars, not a SJW, then good luck finding decent employment. Haven’t you been paying attention to big techs hiring and firing practices?
This is why many of them have a relationship with Berniethink, Berniespeak and Berniescorn for those that HAVE HAD an opportunity to work in manufacturing – or what might be considered lower class jobs – start a family and buy a home. This is also why millennial’s have left the state of Vermont search of work. The socialists that moved to VT and organized, followed in Bernie’s footsteps in many ways, now controlling state tax and spend social engineering programs. The only way to pay for these pie-in-the-sky programs is through increased taxation. Say goodbye to pensioners and farmers ….
when the “colletch diplomma” in your pocket became more important than life skills to support one’s self under any circumstances, and people were willing to pay more than that paper is worth, it all turned to shit.
Keep talking shit about millenials… baby boomers created the monster that is millenials. Baby boomers had the world handed to them on a silver platter, I despise baby boomers, they are the scum of the Earth. Example, I work with a guy who is 60, he voted for Hilary thinking she would be better for the stock market, not connecting the dots that his loser son can’t get a job and get out of his pocket because of the policies of Obama and Hillary. He only sees his 401k increasing, if his old ass retired it would create an opening for someone like his own son. Baby boomers, the most selfish generation to have ever existed on Earth. Millenials are making due with what we have.
A different view.
I was born in the early 1950’s
and was raised with my sister
by a single mom when old dad PTS’D
out of the picture. She worked like
a dog to put us both through Catholic
School and College and we both worked while going to school to help pay for our education. We earned degrees and live well. Mom was successful enough to help us financially when we were starting out saying “I’d rather you had the help and money now to make things easier than to get it after I’m dead and you don’t really need it”. Well, Mom is gone now but She taught me a valuable lesson that I am passing on to my own hard working child.
Something to think about.
My 22 yo son graduated from school last Aug. and continued to work at the same place he worked at while going to school till he found something better. He started his first post school job sixty days ago that takes advantage of his degree. If he still has the job after the 90 day trial period, and gets the promised pay raise, which I believe he will, the company is already giving him more responsibility faster than anticipated. He’s going to get the call – son, it’s time to start paying for your own cell phone and vehicle insurance.