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Started By
Message
Millennials are getting screwed by the economy. Again.
Posted on 4/21/20 at 2:31 pm
Posted on 4/21/20 at 2:31 pm
quote:
Two once-in-a-lifetime crises have had devastating consequences for millennials.
Here’s a brutal statistic: One poll found 52 percent of Americans under the age of 45 have either lost their job, been put on leave, or had their hours dramatically cut as a result of the coronavirus pandemic, compared to 26 percent of people over the age of 45.
In other words, millennials are going to bear the brunt of this economic crisis, just as they did in 2008. The Great Recession upended the economy as many millennials were entering the labor force for the first time. The pandemic and the resulting economic shock have hit as many are entering their 30s and could erase any gains they’ve made.
Annie Lowrey, an economics writer at the Atlantic and the author of Give People Money: How A Universal Basic Income Would End Poverty, Revolutionize Work, and Remake the World, argued in a recent piece that millennials are essentially “a lost generation,” having entered the labor force during the Great Recession in 2008 and now facing a second “once-in-a-lifetime downturn.”
Millennials, Lowrey argues, have never really had any economic security, and this pandemic all but guarantees “that they will be the first generation in modern American history to end up poorer than their parents.”
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Posted on 4/21/20 at 2:32 pm to RLDSC FAN
Uh, we have a recession on average every 15 years or so. This isnt some new phenomenon
Millennials acting like victims
Millennials acting like victims
This post was edited on 4/21/20 at 2:33 pm
Posted on 4/21/20 at 2:33 pm to RLDSC FAN
They wouldn't have saved money even if they kept their jobs
Posted on 4/21/20 at 2:33 pm to RLDSC FAN
Some people like getting screwed
Posted on 4/21/20 at 2:33 pm to Cosmo
quote:
Uh, we have a recession on average every 15 years or so. This isnt some new phenomenon
Millennials acting like victims
Cosmo with his patented first reply dumbassery.
Posted on 4/21/20 at 2:33 pm to RLDSC FAN
Meh, most of them will come out on top with the unemployment increase and stimulus check. Quit bitching and im a millennial.
Posted on 4/21/20 at 2:34 pm to JetsetNuggs
You mean thanks a-hole Boomers. If those fricks had done what they were supposed to do, they wouldn’t be holding up space and screwing the millennials.
Said from my Cush generation X seat
Said from my Cush generation X seat
Posted on 4/21/20 at 2:35 pm to RLDSC FAN
Many of those people that were under 45 12 years ago are no longer under 45. I’d guess about half are now 45 or over.
Posted on 4/21/20 at 2:35 pm to RLDSC FAN
I knew people who grew up during the great depression that didn't complain the way millennials do.
Posted on 4/21/20 at 2:35 pm to Cosmo
quote:
Uh, we have a recession on average every 15 years or so. This isnt some new phenomenon
Millennials acting like victims
Bruh.
Posted on 4/21/20 at 2:35 pm to RLDSC FAN
It's definitely ******* with my gains.
Posted on 4/21/20 at 2:35 pm to RLDSC FAN
quote:
Millennials are getting screwed by the economy. Again.
Dude, this is time to buy. Millennials getting into stocks on the cheap will make big reward in years to come.
Posted on 4/21/20 at 2:36 pm to Cosmo
They are literally buying worthless collateral on the open market to prevent a deflationary debt spiral. Who owns the assets, smart guy?
Posted on 4/21/20 at 2:36 pm to BCMCubs
quote:
They wouldn't have saved money even if they kept their jobs
This is fair.
Posted on 4/21/20 at 2:37 pm to Cosmo
quote:
This isnt some new phenomenon
Lol
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