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Baby Boomers were given a great country on a silver platter by the generation that birthed them. They could've worked and afford school at the same time. They grew up in the most prosperous era in US history. Most Baby Boomers could've owned their own homes and cars without any type of education. Can millenials do that? It's impossible. Baby Boomers are by far the most entitled generation in US history. However, they made things worse for their children's generation.
In terms of pop culture I think Generation X was the most entitled. They were teens and young adults during the prosperous golden ages of the 80's and 90's. When we had the best tv shows, movies, music, cartoons, video games, pre-internet, pre 9/11 world. They had it made.
In terms of pop culture I think Generation X was the most entitled. They were teens and young adults during the prosperous golden ages of the 80's and 90's. When we had the best tv shows, movies, music, cartoons, video games, pre-internet, pre 9/11 world. They had it made.
Not really though. The oldest cohorts of Generation X were teenagers in the 1970s and came of age as young adults into an early 80s recession--or ended up in the aftermath of the 1987 Wall Street slide and the early 90s recession. While the younger cuspers like myself(born in 1979), graduated college in the aftermath of the early 2000s dot-com crash and 9/11 only to end up in a booming 2000s before the real estate bubble crashed right after my friends starting buying their first homes. The mid to late 90s were a booming time as were parts of the 80s, but in general it's been a serious of boom-bust cycles. Not complaining or blaming or making excuses for anyone, just saying that it's been a mixed period. The late 80s/early 90s were hardly seen as any sort of golden age at the time--there was a lot of debate over where the country was going that was alleviated by the economic growth at the end of the decade.
But going back Generation X had the highest rates of divorced parents and the highest crime rates while growing up in the 70s and 80s into the 90s. Teenagers were looked at a something to be feared when I was a kid and the Boomer parental-style coddling the Millennial Generation didn't start until the kids born in the 1980s were growing up. The Millenial Generation was an echo boom of the Boomers themselves--and is closer to them in feelings of self-importance.
It was really Generation X that was buying overpriced real estate at the height of the bubble in the middle part of the last decade, only to lose their heads--or lose their jobs at the height of what should be their prime earning years in their 30s and 40s. But just like the Silent Generation(those born between the World War II GI Generation or Greatest Generation and the Baby Boomers), Generation X is sort of a sandwich generation, not really remembered with all the hype about the Millennial Generation and the aging Boomers. For the most part, it's Generation Xers that are getting by trying to do the majority of the work these days and raise and support families.
The majority of the Millennials have years before they're in their 30s and really having to worry about much of this. It's always hard when coming of age during a recession to find work, so don't expect much sympathy---it's not as if the Millennial are the first generation to face this. They're just a generation that is able to speak out via social media and thus has much more of a voice at a younger age.
it's not as if the Millennial are the first generation to face this. They're just a generation that is able to speak out via social media and thus has much more of a voice at a younger age.
The current economic crisis is greater in magnitude than anything since the Great Depression, and if you look purely at people in their early twenties, was worse at its height for that demographic than even the Great Depression was.
Recessions happen fairly often, but, this was the once-in-100-years big one and you can't really compare it to the tech crash, oil crisis, late 80's, etc. The nature of the beast is completely different due to the massive difference in impact.
At least on the bright side it's unlikely people in the workforce today will live through another of a similar severity, bar people on the far tail end of the lifespan distribution.
it's not as if the Millennial are the first generation to face this. They're just a generation that is able to speak out via social media and thus has much more of a voice at a younger age.
I completely agree with this. We're able to reach all over through social media and learn what's happening in other parts of the country and the world.
Quote:
Originally Posted by ALackOfCreativity
The current economic crisis is greater in magnitude than anything since the Great Depression, and if you look purely at people in their early twenties, was worse at its height for that demographic than even the Great Depression was.
The current recession is into its fourth year. The Great Depression ran from 1929-41 (12 years) and ended only because WWII began in '39. In 1933, there were around 25K banks in the U.S. By 1933, almost half of them had failed and money (and property including farms) gone ... which is why, in '34, FDIC was formed. Also, in 1933, the entire U.S. unemployment rate was 25%.
No way is this recession remotely as devastating as the Great Depression. However, it IS the worst recession this country has seen since then. With all the whiners about how bad it's been the past four years, it makes me wonder if they would have even had the strength and courage to endure, as the Depression-era population did.
I completely agree with this. We're able to reach all over through social media and learn what's happening in other parts of the country and the world.
The current recession is into its fourth year. The Great Depression ran from 1929-41 (12 years) and ended only because WWII began in '39. In 1933, there were around 25K banks in the U.S. By 1933, almost half of them had failed and money (and property including farms) gone ... which is why, in '34, FDIC was formed. Also, in 1933, the entire U.S. unemployment rate was 25%.
No way is this recession remotely as devastating as the Great Depression. However, it IS the worst recession this country has seen since then. With all the whiners about how bad it's been the past four years, it makes me wonder if they would have even had the strength and courage to endure, as the Depression-era population did.
Oh, I'm not arguing at all that this recession is worse than the Great Depression; it isn't. The recovery has been quicker and the impact on the population as a whole has been substantially less.... just that this one has more lopsidedly hit the young than the Great Depression did, and that absolutely nothing in the interim can compare to either.
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