re: Another shaky sign of a lost generation: Welcome to the #YOLO economy

The lower class issue is an education, skills and opportunity problem not an affordable housing problem.

Whatever you want to say is the primary cause, the towns are screwed. Run down without any good areas, bad schools, high crime for the population, etc.

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Wat? Millennials are working longer hours than previous generations. This has been mad worse by the WFH of the covid shutdown.

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I work in the industrial sector of the economy where I work with people that are 20 yrs old to 70. The millennials, as a group, have lower tolerance for physical work. We used to have to hire 20 to get 10 because at the interviews they all wanted that $$$/hr. When they saw what the jobs entailed and that they had to work to a standard many quit in 2-3 wks. And these were not "dirty jobs." Most just considered the manual labor to be beneath them.

However, The current group coming into the work force is way out there. No concept of working to get ahead.

I will give you that there are exceptions to every generalization.

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Have a daughter in College now who is a Journalism major. I have begged her to get a degree in something else and i have critized to the point of making her angry. She just knows it all and that she is different. The only positive is she is on scholarship and will graduate with maybe 10k in debt.

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I was the exact same way. I got to my senior year and started looking for jobs. Once I saw the starting salaries I started studying to go to law school.

I was a journalism major too. Was in LSU’s school of journalism and it was such a cesspool. I was actually fairly left leaning until just last year (graduated LSU in 2014) but I’m so glad I left journalism.

I don’t know what that means, but do you remember when you were nice, or nah?

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Direct result of printing money and inflation bubbles. Real returns are hard to find, so the risk required to generate a return goes up.

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Exactly. This also has the potential to kill real "savings" depending on how bad inflation gets. Our system has been rigged by politicians to avoid natural deflation/price correction for decades and we are really seeing the effects finally. With certain assets this isn't as big of a deal in terms of barrier to entry (like stocks, which anyone can jump into with funds, etc.), but it is a HUGE deal in terms of others (real estate primarily). For decades, those with power and property have ensured that their home prices will never decline (via comprehensive policies from government-zoning to interest rates, etc.), which means the barrier to entry is insane for anyone just trying to join the market.

A very underrated way that boomers and older Gen X are creating insane barriers to entry is that they have created lifestyles that are so expensive to maintain, they can't retire. This has a real downstream effect on younger Gen X/older millenials because the advancement opportunities Boomers and older Gen X had simply do not exist today. The slack that younger Millennials and older Gen Z will face is real, and unlike previous generations, they are fully aware that their progression is completely fricked compared to their bosses's progression options.

So when you add in very elevated requirements to get white collar work (degrees, urban living, etc.), the costs of those requirements (absurd college and rental costs), lowered starting pay, and decreased chance of advancement, you are going to get some nihilism. Add into this negative outlook all of the inflationary bubbles all around them and it really does raise a question of which path is best.

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Oddly the millinial generation strongly supports political proponents and policies that are causing their financial headwinds.

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Well while true, the natural progression of political beliefs applies to all generations roughly the same. I mean frick the boomers were goddamn hippies and now look at them fricking up life for everyone else for multiple decades while they had social and political power.

I think it basically boils down to two things. I see this some in my own kids.

1. They at least didn't get worthless degrees IMO (1. nurse 2. Masters in Geology)


2. This is one that they seem to struggle with but I see it much more with their friends. They all want all of the material things now that my wife and I have spent a lifetime acquiring. They do not want to start with a cheaper car, or smaller home, etc.

Lol what?