Is the economic potential of millennials gone forever? (salaries, dollars, high school)
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Every generation says the next generations are worse than theirs. Survival of the fittest culls out certain portions of all generations. That will continue to happen.
the last generation that got to enjoy the greatest standard of living were the boomers. It basically ended there. Never to return. Each generation produced, will just incur an even greater amount of debt and lower standing of living. Im around the same age as you. Its been the same old story since college. (Underemployment, Companies getting by with less and less of a workforce,constant "restructuring" that amount to destroyed businesses in the long run with executives running off with all the loot before the ship sinks , and layoffs galore along with never ending insourcing/outsourcing).
This country is HOSED (Probably forever).
Millennials are set to inherit tens of trillions of dollars within the coming decades from their boomer parents and relatives. Yes, boomers are disproportionally wealthy, but that money doesn't just vanish.
10-15 years from now when the economy is finally running on all cylinders again, I'll be in my mid 40s approaching 50. I can't imagine closing in on my 50th birthday, having been underemployed for two decades thanks the the double gut punch of the Bush housing collapse and the Trump coronavirus economic collapse, and actually being able to compete with fresh grads for jobs. Ageism is going to be a big problem for millennials when the day comes that we finally get to experience a decent economy. I'm also better off than a lot of people in that I don't have mountains of student debt. Many aren't so lucky.
While there are some people who defy the norm, there have been few generations in US history that have had worse economic luck than people born in the 1980s and early 1990s.
Coming out of college in 2008 and then experiencing an economic catastrophe 100x worse in 2020, all during the years that should be prime career-building and life-building years, is going to be difficult if not impossible to ever recover from. While there's certainly exceptions and there are Millennials who have done well for themselves, most have never had a chance. We're going to have a generation of 40-50 year olds with degrees still renting cheap apartments with roommates (unable to afford a home) and still working as Starbucks baristas or waiting tables thanks to the economy that boomers and the GOP have left us.
Do you believe that Millennials will be destroyed economically for life? I think the 2008 crisis was enough to do permanent damage but this next decade of economic misery will finish this generation off. The lucky few who happened to be in the right place and know the right people at the right time will do well.
I see a lot of blame through this screed, and yet I know many people your age (including our four children) who have done very well for themselves the past decade.
The only people underemployed are those expecting others to employ them.
There’s plenty of work out there. Find it.
A lot of Millennials did what they were told their entire lives they were supposed to do by boomers; go to college and get a degree. It just so happens that so many people went into hundreds of thousands of dollars in debt for degrees that aren't in demand in the real economy and therefore are stuck working in the same service-industry jobs they worked in to get through college.
Like the self-esteem movement and participation trophy, boomers created the expectation that everyone should take on massive debt to go to college and that a degree guarantees success.
Location: Somewhere gray and damp, close to the West Coast
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Quote:
Originally Posted by mirage98de
Gen Z is such a POS group of people that millennials with marketable skills will still be needed. PS nice passive aggressive TDS thread blaming Coronavirus on Trump lol.
Bunch of grown ass adults who still depend on their parents and have no idea how to do anything besides instagram and tik tok. Total, unmitigated failure.
Millennials benefited from the early 2000s, post great recession period, and what we are about to come out of. The only thing that could be holding millennials back is incompetence and housing prices. Yes, housing prices have increased faster than any other period. But millennials will also benefit from the increase in housing that will become available as boomers die.
Wait, how did the millennials benefit from the early 2000s and post great recession period? I'm really curious. A lot millennials, like me were still in middle school/high school in the early 2000s.
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