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Started By
Message
re: The Next Recession Will Destroy Millennials
Posted on 8/27/19 at 9:23 am to OleWarSkuleAlum
Posted on 8/27/19 at 9:23 am to OleWarSkuleAlum
BMY
Army
Lol
Army
Lol
0
Posted on 8/27/19 at 9:26 am to OleWarSkuleAlum
quote:
Millennials got bodied
So, they were blocked out of it? I don't really understand this metaphor as used here and don't want to click on that link, so I guess I'll just have to wonder.
"might make sure of it"--what's that mean?
Did a millennial write this?
We've got blocking, pitching, stalling, and sucking.
WHAT DOES IT ALL MEAN????
Posted on 8/27/19 at 9:28 am to thetempleowl
quote:
millennials are saving less than prior generations.
You'll need a link for that assertion, assuming you are comparing savings at the same age.
Every age group is woefully unprepared for retirement. Boomers are going to suck SSI dry and work less productively until they keel over in their desk chair because of their awful preparation for their future. Of course, 2008 didn't help, but since we are eliminating that as a factor for the millenials, I assume we should for boomers and older genX people as well.
Posted on 8/27/19 at 9:30 am to OleWarSkuleAlum
The entire age group of under 40's (millennials + gen z) is terrible.
Except for me, I had to walk in the snow to school and had 3 jobs, paid for my own college and have no debt thanks to my current $200K+ job.
Signed,
Every millennial on here
Except for me, I had to walk in the snow to school and had 3 jobs, paid for my own college and have no debt thanks to my current $200K+ job.
Signed,
Every millennial on here
Posted on 8/27/19 at 9:30 am to GRTiger
quote:
I'd wager a recession will suck the worst for the economic illiterates in their 50s and 60s who have less than $100,000 in retirement savings. Like the last time, they'll get wiped out and have to add 15 years to their working lives to recover.
Agree, but I think it's even worse than that for everybody. A lot of pension funds are just now recovering from '08 or still teetering on the brink of disaster from it. A tough recession will bring many of them down and probably make the government backstop insolvent. Then, we are in some real deep doo doo.
Posted on 8/27/19 at 9:30 am to OleWarSkuleAlum
quote:
they are failing to make it to the middle class
Jesus Christ. What a terrible piece of writing. The median income for millennial households is almost 70k
This post was edited on 8/27/19 at 9:32 am
Posted on 8/27/19 at 9:31 am to bmy
quote:
A large percentage.. specifically those with student loans. Average millenial makes 35-40k. They'll be fine in the long run but an economic downturn will be a dagger for millenials in an unprecedented way.. they need to be able to discharge student loans.
Average millenial pursues an overpriced degree that doesn't even pay an average salary then demands their loans be forgiven. Average millenial makes poor choices then blames Mommy and Daddy.
Posted on 8/27/19 at 9:33 am to OleWarSkuleAlum
Assuming the next recession happens before they can secure their financial positions.....
Sounds like wishful thinking to me.
Sounds like wishful thinking to me.
Posted on 8/27/19 at 9:34 am to Bunk Moreland
quote:
Agree, but I think it's even worse than that for everybody. A lot of pension funds are just now recovering from '08 or still teetering on the brink of disaster from it.
Pensions are completely unsustainable.
2009 just sped up what was already going to happen.
Posted on 8/27/19 at 9:37 am to 93and99
quote:
How did boomers frick millennials ?
It wasn't purposefully. Boomers made all the decisions leading up to the Great Recession that put a lot of millenials in a tight place. I mean there wasn't some 12 year old kid in 2001 with a myspace account doing evil bidding for setting capital requirements for banks and loosening lending regulations.
Posted on 8/27/19 at 9:40 am to Saint Alfonzo
considering it takes a damn degree just to get some customer service jobs... it ain't all their fault. Lots of people are to blame, and it is time for boomers to own up to their mistakes as well as millenials and everyone in between.
Posted on 8/27/19 at 9:41 am to yatesdog38
quote:
I mean there wasn't some 12 year old kid in 2001 with a myspace account doing evil bidding for setting capital requirements for banks and loosening lending regulations.
that kid LITERALLY put Obama in office single-handedly, though
Posted on 8/27/19 at 9:43 am to yatesdog38
quote:
considering it takes a damn degree just to get some customer service jobs...
Most customer service jobs do not require a degree. There's a shitload of blue collar jobs that pay well too, but some people are terrified to break a fingernail.
There's always an excuse for unmotivated people
Posted on 8/27/19 at 9:43 am to SlowFlowPro
quote:
while i agree, the boomers have, effectively, been in political power since the 80s and have failed to address these issues (note: they've made them worse)
The problem is that the millenials resemble the boomers.
It's not like this is some group of hard working group (as a whole) who simply want government out of their way.
In short, boomers suck. Millenials, as it stands now, look like they are going to suck.
Posted on 8/27/19 at 9:45 am to RogerTheShrubber
and a lot of people placed a stigma on blue collar jobs. That is why so many kids went to college it was out of pressure from their parents. Why is this so hard to understand.
Posted on 8/27/19 at 9:45 am to OleWarSkuleAlum
This is bullshite.
I finished high school in 09 and college in 13. Couldn’t find a good job out of college making over 10 dollars an hour until 2016. Since 2016 I went from 10 bucks an hour to a new job making 52k with some benefits then 9 months later got offered a job making 65k with full benefits and retirements and company truck, then a year later got a raise to 80k and get a bonus on top of it.
All good things happened since Trump was elected
I finished high school in 09 and college in 13. Couldn’t find a good job out of college making over 10 dollars an hour until 2016. Since 2016 I went from 10 bucks an hour to a new job making 52k with some benefits then 9 months later got offered a job making 65k with full benefits and retirements and company truck, then a year later got a raise to 80k and get a bonus on top of it.
All good things happened since Trump was elected
Posted on 8/27/19 at 9:45 am to parrothead
parrothead
Nice post. My son turns 30 this year. Has his student loans (graduate only as I'm paying his college) but he has a job, bought a car, pays rent, joined a country club. His future looks very bright. His friends are all successful. Have not seen the biggest angst among those around 30. However, I know groups graduating college now and many of them want their loans washed away. many of them want the free stuff. many of them say orange man bad.
quote:
I think it’s some sort of parody. I’m 31, and while the early and mid 20’s were pretty rough, economically speaking, my peers and I seem to have crawled through the muck and made it to the other side. Sure, I’m paying off student loans but for the time being it’s not stopping me from doing too much, except maybe buy a new car but that’s a want not a need.
Nice post. My son turns 30 this year. Has his student loans (graduate only as I'm paying his college) but he has a job, bought a car, pays rent, joined a country club. His future looks very bright. His friends are all successful. Have not seen the biggest angst among those around 30. However, I know groups graduating college now and many of them want their loans washed away. many of them want the free stuff. many of them say orange man bad.
Posted on 8/27/19 at 9:47 am to OleWarSkuleAlum
Seems like the younger generations don’t save and that is going to cost them in the next recession. About 80-90 Percent of people I know under 40 basically left be pay check to pay check and don’t have retirement or college funds for their kids . With Banks giving out loans like they are things are going to be ugly in the next recession.
Posted on 8/27/19 at 9:48 am to yatesdog38
quote:
and a lot of people placed a stigma on blue collar jobs.
They're retarded
Turn their nose up at blue collar workplace then cry when they're stuck in some low paying job. Sounds like lack of intelligence.
Posted on 8/27/19 at 9:51 am to yatesdog38
quote:
considering it takes a damn degree just to get some customer service jobs... it ain't all their fault. Lots of people are to blame, and it is time for boomers to own up to their mistakes as well as millenials and everyone in between.
If you pursued a degree that only qualifies you for customer service jobs that's your mistake.
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