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The oldest Milennials are now ~40. They have about 25% of the assets of Boomers at the same age.
What do you think that does to culture and politics? Two generations of narcissists, one with money and the other without.
What do you think that does to culture and politics? Two generations of narcissists, one with money and the other without.
I get replies like this everytime I tweet about Boomers. The fact is they took all the benefits of the system their parents & grandparents created, gave themselves all the credit, tore down the system & then blame millennials for being lazy.
They pat themselves on the back for working their way through college w a part time job but ignore the fact that it’s impossible to do that now in the system *they created* because the cost of college has increased ~600% in real dollars.
You can’t pay $50k/year in tuition/room/board/books working part time for $15/hour.
And in any event the economic return on college has collapsed since the time the Boomers were in college at the same time that real median wages have stagnated.
And in any event the economic return on college has collapsed since the time the Boomers were in college at the same time that real median wages have stagnated.
Also Millennials got hit w The Great Recession in 2008/9 caused by the popping of the credit-fueled housing bubble popping. (BTW, what generation dominated Wall St at the time & made their money creating the debt economy?) Then they got hit w the pandemic economy in their 30s.
Millennials have been priced out of homeownership in the major cities where the best paying jobs are while Boomers watch their home equity soar (these two things are related). Something like 1/4-1/3 of Millennials report that they have no kids or fewer than they want.
They have no or fewer children because they can’t afford them, don’t own a home, never got married, and/or both spouses have to work. They system they inherited is nearly the exact opposite of the one the Boomers were born into & it’s rigged against them.
