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Old 09-11-2019, 11:41 AM
 
Location: Florida and New England
1,278 posts, read 1,448,501 times
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My older relations recalled the 1937 recession as worse than the 1929-30 crash -- although both episodes have been grouped as parts of the "Great Depression" period.

Earnings had not yet recovered from the crash, and the economy had been scraping along, at the bottom of the barrel, then the 1937 slump happened. Lots of people just capitulated at that point -- husbands left their families to find work, big increase in suicides, the dust bowl hollowing out towns out on the prairies. My Dad remembers the high-altitude particulate over midwest cities in those years, being sent home from school with a kerchief to cover his face -- the grit of western dust in his mouth whenever he went outside.

President Truman talked about this period to one of his later-day biographers. Eisenhower mentions it also in "At Ease."
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Old 09-11-2019, 12:27 PM
 
2,825 posts, read 1,835,504 times
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Originally Posted by skeddy View Post
"Great Recession" is a term the media came up with, obviously you have bought into it. Point is, we have had a lot of recessions for many reasons and for many generations. Millennials are nothing special, but they're big crybabies.
That’s the best you have?

You show again and again that you just have contempt.
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Old Yesterday, 06:23 PM
 
Location: Boston
8,533 posts, read 2,496,004 times
Reputation: 6021
Quote:
Originally Posted by Thatsright19 View Post
Thatís the best you have?

You show again and again that you just have contempt.
no contempt, just a expectation that as people reach adulthood, they act like adults, not whiners claiming they are the only ones who ever got the short end of the stick or had to face economic adversity...not a good look. Most of the millennials I know are doing fine.
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Old Yesterday, 10:36 PM
 
Location: Oregon, formerly Texas
5,519 posts, read 3,851,988 times
Reputation: 9383
Quote:
Originally Posted by skeddy View Post
no contempt, just a expectation that as people reach adulthood, they act like adults, not whiners claiming they are the only ones who ever got the short end of the stick or had to face economic adversity...not a good look. Most of the millennials I know are doing fine.
Boomers complain about Millennials at a higher rate than I can remember Silents complaining about Xers. So the feeling is mutual.

In the 60s, tuition at a state university was like $300 a year which you could make at a summer job. My uncle was the ultimate hippy flower child. He was born in 1950, went to college 1968-72. He protested Vietnam, grew his hair long, did pot, lived in some kind of tent for a while with some friends doing the whole commune schtick, was the picture-perfect stereotype of hippies. By the 80s he was working in a bank. Total hippie-to-yuppie cliche. He paid for his college by picking strawberries over the summers. That's laughable now.

In the 2010s tuition at a state college is $20,000 a year and you can maybe make $5-6000 working over a summer, assuming you get a pretty decent job like waiting tables at a restaurant where people tip well. Less if you are not so lucky with your job. I don't think that is an illegitimate complaint, and the freaking boomers don't seem to care. It was under their watch and leadership that college costs exploded, while they drilled into us growing up that college was the primary path to success. Boomers were the college presidents, the politicians, etc., etc., when I was in growing up and going to college in the 90s and 2000s. They were in charge when things got screwed up. Millennials were not in charge and we generally still are not. Most of us are early career or beginning stages of mid career. We are not in charge.

If you mention tech school I think I will scream, since community college is where they do that training now. In the 50-60s, what community colleges used to be, then known of as city colleges, junior colleges or tech schools, WERE TUITION-FREE BACK THEN. Literally free. You paid for books. My local community college has a plaque about it - it cost $50 a semester for a full load back in the 60s.

They are not free now. You'll easily spend 3-6k per year at a community college. My local one will run right at $4500 a year.

Last edited by redguard57; Yesterday at 10:59 PM..
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Old Yesterday, 11:16 PM
 
20,571 posts, read 11,475,623 times
Reputation: 20794
Quote:
Originally Posted by redguard57 View Post
Boomers complain about Millennials at a higher rate than I can remember Silents complaining about Xers. So the feeling is mutual.

In the 60s, tuition at a state university was like $300 a year which you could make at a summer job. My uncle was the ultimate hippy flower child. He was born in 1950, went to college 1968-72. He protested Vietnam, grew his hair long, did pot, lived in some kind of tent for a while with some friends doing the whole commune schtick, was the picture-perfect stereotype of hippies. By the 80s he was working in a bank. Total hippie-to-yuppie cliche. He paid for his college by picking strawberries over the summers. That's laughable now.

In the 2010s tuition at a state college is $20,000 a year and you can maybe make $5-6000 working over a summer, assuming you get a pretty decent job like waiting tables at a restaurant where people tip well. Less if you are not so lucky with your job. I don't think that is an illegitimate complaint, and the freaking boomers don't seem to care. It was under their watch and leadership that college costs exploded, while they drilled into us growing up that college was the primary path to success. Boomers were the college presidents, the politicians, etc., etc., when I was in growing up and going to college in the 90s and 2000s. They were in charge when things got screwed up. Millennials were not in charge and we generally still are not. Most of us are early career or beginning stages of mid career. We are not in charge.

If you mention tech school I think I will scream, since community college is where they do that training now. In the 50-60s, what community colleges used to be, then known of as city colleges, junior colleges or tech schools, WERE TUITION-FREE BACK THEN. Literally free. You paid for books. My local community college has a plaque about it - it cost $50 a semester for a full load back in the 60s.

They are not free now. You'll easily spend 3-6k per year at a community college. My local one will run right at $4500 a year.
In 1972, my tuition at the University of Oklahoma was $25 per credit hour; I had a part-time job making $2.50 an hour. I could pay off my full-load tuition working part-time by the middle of the semester.

Today that same university charges $400 per credit hour. To handle the tuition as well as I could, a student would have to make $40 an hour, part-time.
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Old Today, 04:30 AM
 
1,316 posts, read 1,446,380 times
Reputation: 2631
Quote:
Originally Posted by skeddy View Post
no contempt, just a expectation that as people reach adulthood, they act like adults, not whiners claiming they are the only ones who ever got the short end of the stick or had to face economic adversity...not a good look. Most of the millennials I know are doing fine.
Most millennials I know are doing fine as well. I'm doing beyond fine. However, your experience and mine is just anecdotal evidence. Statistics show that millennials as a generation are far behind generations of the past. While I agree with you on the fact that the stereotypes regarding our generation being entitled and whiners is true; a huge part of the reason why our generation is so far behind past generations has to do with the recession of 2008.
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Old Today, 06:31 AM
 
1,163 posts, read 810,258 times
Reputation: 2163
Quote:
Originally Posted by redguard57 View Post
Boomers complain about Millennials at a higher rate than I can remember Silents complaining about Xers. So the feeling is mutual.

In the 60s, tuition at a state university was like $300 a year which you could make at a summer job. My uncle was the ultimate hippy flower child. He was born in 1950, went to college 1968-72. He protested Vietnam, grew his hair long, did pot, lived in some kind of tent for a while with some friends doing the whole commune schtick, was the picture-perfect stereotype of hippies. By the 80s he was working in a bank. Total hippie-to-yuppie cliche. He paid for his college by picking strawberries over the summers. That's laughable now.

In the 2010s tuition at a state college is $20,000 a year and you can maybe make $5-6000 working over a summer, assuming you get a pretty decent job like waiting tables at a restaurant where people tip well. Less if you are not so lucky with your job. I don't think that is an illegitimate complaint, and the freaking boomers don't seem to care. It was under their watch and leadership that college costs exploded, while they drilled into us growing up that college was the primary path to success. Boomers were the college presidents, the politicians, etc., etc., when I was in growing up and going to college in the 90s and 2000s. They were in charge when things got screwed up. Millennials were not in charge and we generally still are not. Most of us are early career or beginning stages of mid career. We are not in charge.

If you mention tech school I think I will scream, since community college is where they do that training now. In the 50-60s, what community colleges used to be, then known of as city colleges, junior colleges or tech schools, WERE TUITION-FREE BACK THEN. Literally free. You paid for books. My local community college has a plaque about it - it cost $50 a semester for a full load back in the 60s.

They are not free now. You'll easily spend 3-6k per year at a community college. My local one will run right at $4500 a year.
Like a broken record, I implore you to research the ENTIRE BB generational years. The youngest of us, born ‘61-‘64 have no recollection or participation in any of this.

I wasnt even born when Kennedy was killed. I never even heard the word “hippie” until studying it in history class! I barely remember when my older BB uncle left for Vietnam ( yes, he WENT when called). I was FIVE and didn't know why everyone was crying that that day.

Yes, i will give you that what college was cheaper, BUT- you didn't get loans that not only paid tuituon but afforded you yo to buy things and travel. I only knew a few kids whose parents helped at all. Once you were 18, you got a hug, a wave, and good luck. There was no support in to your 30’s or going back to mommy’s house. You got scholarships and jobs- more than one if you needed it.

Gas, if you could find it, was precious for those of us launched in the early 80’s. Interest rates were high, too.

Every generation has to deal with situations and hardship. We should build each other up. Millennials will be in their 50’s before they know it and it will be interesting to see how the younger adults evaluate them. Our millennial children are in their mid 30’s, doing great, and are largely embarrassed by their whining peers.

BBs contributed good, too! We had/have good work ethic, with many of us still working and will be for another 10-15 years! So, don’t engrave our tombstones just yet, please.

Last edited by Sharpydove; Today at 06:45 AM..
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Old Today, 07:51 AM
 
Location: Oregon, formerly Texas
5,519 posts, read 3,851,988 times
Reputation: 9383
Quote:
Originally Posted by Sharpydove View Post
Like a broken record, I implore you to research the ENTIRE BB generational years. The youngest of us, born ‘61-‘64 have no recollection or participation in any of this.

I wasnt even born when Kennedy was killed. I never even heard the word “hippie” until studying it in history class! I barely remember when my older BB uncle left for Vietnam ( yes, he WENT when called). I was FIVE and didn't know why everyone was crying that that day.

Yes, i will give you that what college was cheaper, BUT- you didn't get loans that not only paid tuituon but afforded you yo to buy things and travel. I only knew a few kids whose parents helped at all. Once you were 18, you got a hug, a wave, and good luck. There was no support in to your 30’s or going back to mommy’s house. You got scholarships and jobs- more than one if you needed it.

Gas, if you could find it, was precious for those of us launched in the early 80’s. Interest rates were high, too.

Every generation has to deal with situations and hardship. We should build each other up. Millennials will be in their 50’s before they know it and it will be interesting to see how the younger adults evaluate them. Our millennial children are in their mid 30’s, doing great, and are largely embarrassed by their whining peers.

BBs contributed good, too! We had/have good work ethic, with many of us still working and will be for another 10-15 years! So, don’t engrave our tombstones just yet, please.
Everybody had challenges I guess. Today at least it's better for women and non-whites to be sure. And we have the internet. So convenient. Cars are better too, and they have computers in them now which is cool. Parallel parking is so much easier with a backup camera. 70s-80s cars kinda sucked.

Still, there are definitely things I would trade with you. The Great Recession was tougher than the recessions of early 80s or early 90s by objective measures. The mid-late 90s were a great time to be alive, a much better boom than what we're currently experiencing. Back then the boom was made up of more good jobs. Today's boom has a lot of service jobs. I can walk into any restaurant and get a job today, but I'll make about the same subsistence wage at all of them. Good jobs require those damned 80k degrees and even then they're very competitive. Housing is much more expensive in the metros that have jobs, even accounting for low interest rates.

Your kids might be doing well, but as a group Millennials are worse off than their predecessors at their age. They own houses at a lower rate. They have lower net worth and more student debt.
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Old Today, 08:53 AM
 
1,163 posts, read 810,258 times
Reputation: 2163
Quote:
Originally Posted by redguard57 View Post
Everybody had challenges I guess. Today at least it's better for women and non-whites to be sure. And we have the internet. So convenient. Cars are better too, and they have computers in them now which is cool. Parallel parking is so much easier with a backup camera. 70s-80s cars kinda sucked.

Still, there are definitely things I would trade with you. The Great Recession was tougher than the recessions of early 80s or early 90s by objective measures. The mid-late 90s were a great time to be alive, a much better boom than what we're currently experiencing. Back then the boom was made up of more good jobs. Today's boom has a lot of service jobs. I can walk into any restaurant and get a job today, but I'll make about the same subsistence wage at all of them. Good jobs require those damned 80k degrees and even then they're very competitive. Housing is much more expensive in the metros that have jobs, even accounting for low interest rates.

Your kids might be doing well, but as a group Millennials are worse off than their predecessors at their age. They own houses at a lower rate. They have lower net worth and more student debt.
I do agree with you about housing. It is absolutely ridiculous right now. I cringe at what people are paying for homes. That house of cards will topple again.
Student loan debt: here is where I take issue with you. Nobody puts a gun to your head to take out these huge loans, but the biggest problem I have seen is the amount taken. Students get WAY more than the cost of tuition and fees only, and brag about it. My best friend works in financial aid and even she admits there needs to be major changes.
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