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re: The Next Recession Will Destroy Millennials

Posted on 8/27/19 at 12:33 pm to
Posted by yatesdog38
in your head rent free
Member since Sep 2013
12737 posts
Posted on 8/27/19 at 12:33 pm to
this is correct.

What's funny is there are so many old people advocating for a rate cut. As you grow older ideally you need to reduce risk in your investments and move towards a saver. Lowering interest rates hurts savers. They are too stupid to realize this.

They are F***ed.
Posted by armtackledawg
Member since Aug 2017
14458 posts
Posted on 8/27/19 at 12:33 pm to
quote:

Boomers will be retiring


Or dying.
Posted by SlowFlowPro
With populists, expect populism
Member since Jan 2004
475933 posts
Posted on 8/27/19 at 12:35 pm to
quote:

You used the term "devolve" earlier, as if "if Jr doesn't get a professional degree, he is less"... So, yeah you are...

go re-read that sentence again

quote:

Why doesn't you graph include trade degrees or trade school or certification completion? Did I just miss it?

they're in the "high school diploma" portion of the graph
Posted by The Maj
Member since Sep 2016
30551 posts
Posted on 8/27/19 at 12:36 pm to
quote:

they're in the "high school diploma" portion of the graph


Oh, wow, so lets lump it all together on that level and it is correct...

I was incorrect in calling you a dumbass earlier, you sir are a fricking idiot...
Posted by SlowFlowPro
With populists, expect populism
Member since Jan 2004
475933 posts
Posted on 8/27/19 at 12:40 pm to
quote:

Oh, wow, so lets lump it all together on that level and it is correct...

I was incorrect in calling you a dumbass earlier, you sir are a fricking idiot...



i did a cursory google search and couldn't find that data readily available but if you want to go find it i'd love to see it
Posted by Turbeauxdog
Member since Aug 2004
24273 posts
Posted on 8/27/19 at 12:47 pm to
I don’t think that graph is particularly useful as it doesn’t split non skilled hs diploma from skilled
Posted by Turbeauxdog
Member since Aug 2004
24273 posts
Posted on 8/27/19 at 12:49 pm to
The average (I know not median), skilled trade makes just below 50 based on a quick search, add in a wife making in the 30s and the household income gets into the 80s which is on par with a bachelors.

Point being, college educated parents raising skilled trade children is not a degradation in family achievement.
This post was edited on 8/27/19 at 12:51 pm
Posted by Turbeauxdog
Member since Aug 2004
24273 posts
Posted on 8/27/19 at 12:53 pm to
Also, I’m a very young gen x and don’t have a dog in this millennial/boomer battle.

Gen x is obviously superior to all.
Posted by NIH
Member since Aug 2008
122440 posts
Posted on 8/27/19 at 12:55 pm to
How fat are you? I can hear you wheezing from here
This post was edited on 8/27/19 at 12:56 pm
Posted by funnystuff
Member since Nov 2012
9132 posts
Posted on 8/27/19 at 1:11 pm to
The problem with that argument is that the poorest groups today are not experiencing upward mobility anywhere near the same extent that even upper income groups had 50 years ago. If it were merely a question of diminishing returns, our lowest income quintiles should be experiencing significant upward mobility. That’s not happening; something more is going on.


Diminishing returns may account for some portion of the mobility decline, but not close to all of it. Automation and globalization are both much larger culprits.


And whatever the cause, it doesn’t change the reality that younger generations today simply don’t have the same opportunity for advancement that previous generations have had. So all this “I worked hard and advanced so everyone today should also be able to” nonsense is badly missing the mark. The opportunities flat out aren’t the same. If we keep ignoring that, we’ll keep pushing the younger generations right into the waiting arms of the paternalistic nanny state.
Posted by HailHailtoMichigan!
Mission Viejo, CA
Member since Mar 2012
74083 posts
Posted on 8/27/19 at 1:16 pm to
What’s your solution?
Posted by 93and99
Dayton , Oh / Allentown , Pa
Member since Dec 2018
14400 posts
Posted on 8/27/19 at 1:28 pm to
quote:

well if we're trying to have generations surpass the previous one, why would professional class parents be raising their kids to devolve? it sounds harsh but it's a serious question, especially in the richest country in the world whose economy is largely based around much more advanced economic output




Is your dad the snooty arse country club type ?
Posted by 93and99
Dayton , Oh / Allentown , Pa
Member since Dec 2018
14400 posts
Posted on 8/27/19 at 1:35 pm to
quote:

How fat are you? I can hear you wheezing from here




Did it suck growing up without a dad ?
Posted by funnystuff
Member since Nov 2012
9132 posts
Posted on 8/27/19 at 1:38 pm to
I’ve got no problem admitting that I’m not smart enough to come up with one. It’s too large of a problem for me.


But I do know a few things that won’t help us come up with that solution. Chief among them, simply admonishing younger generations for being less successful at finding reliable work. That won’t suddenly change reality.


I know this board will be about as receptive to this as a vampire is receiving a cross, but the solution probably needs to be a government driven one. My best current best guess for a solution is some type of tax on urban America where the proceeds go to facilitate private company partnerships and investments in rural America. The groups being left behind most quickly are in the provinces, so we’ve got to find a way to reengage those areas into the 21st century economy.


But even the perfect version of that scheme doesn’t work unless we fix the growing moral and ethical problems sweeping through our country. The best discussion of the problems and proposal for some of the starting points for a solution that I’ve seen were presented by Paul Collier in The Future of Capitalism. Highly recommended for everyone.
This post was edited on 8/27/19 at 1:42 pm
Posted by HailHailtoMichigan!
Mission Viejo, CA
Member since Mar 2012
74083 posts
Posted on 8/27/19 at 1:40 pm to
ty for suggestion
Posted by 50_Tiger
Arlington TX
Member since Jan 2016
43444 posts
Posted on 8/27/19 at 1:55 pm to
Im 33 and securely in the Middle Class, by 35, I should be Upper Middle.


Just face it, some folks just don't have the guts.
Posted by SlowFlowPro
With populists, expect populism
Member since Jan 2004
475933 posts
Posted on 8/27/19 at 1:58 pm to
quote:

Is your dad the snooty arse country club type

my dad was an abusive alcoholic who didn't pay child support and left my mom to raise 3 kids on a teacher's salary
Posted by NIH
Member since Aug 2008
122440 posts
Posted on 8/27/19 at 2:00 pm to
I’ll take it you’re obese from that non-response
Posted by NIH
Member since Aug 2008
122440 posts
Posted on 8/27/19 at 2:00 pm to
These threads just bring out redneck class envy
Posted by SlowFlowPro
With populists, expect populism
Member since Jan 2004
475933 posts
Posted on 8/27/19 at 2:14 pm to
i don't have anything against labor, esp skilled labor. one reason i get along so well in LC is that i enjoy the lack of pretentiousness in a population built on non-professional employment. this strawman that i'm mocking them is just crazy talk

the fact is, especially within this sort of discussion, that we as Americans want to raise our kids to be in a better place an higher station than we are. so if you're in the professional class, your goal is not to have your kid go backwards. that is not an insult to the working class and your kid isn't a failure if that happens. however, on the macro level, this is an economic disaster (and millenials are the first generation to face this and we may be the only ones to face this until the literal collapse of the USA)
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