Posted on 01/15/2017 7:17:28 AM PST by Sir Napsalot
Baby Boomers: your millennial children are worse off than you.
With a median household income of $40,581, millennials earn 20 percent less than boomers did at the same stage of life, despite being better educated, according to a new analysis of Federal Reserve data by the advocacy group Young Invincibles.
The analysis being released Friday gives concrete details about a troubling generational divide that helps to explain much of the anxiety that defined the 2016 election. Millennials have half the net worth of boomers. Their home ownership rate is lower, while their student debt is drastically higher.
The generational gap is a central dilemma for the incoming presidency of Donald Trump, who essentially pledged a return to the prosperity of post-World War II America. The analysis also hints at the issues of culture and identity that divided many voters, showing that white millennials — who still earn much more than their blacks and Latino peers — have seen their incomes plummet the most relative to boomers.
(Excerpt) Read more at cnbc.com ...
I’m assuming “household income” means “household income,” because tautology. However, given the standard of journalism we face today, it is not out of the question that the study actually compared individual income, and the writer either didn’t know the difference or didn’t care.
Eh, WE Boomer me first anything goes parents dumped 20 Trillion debt ten times our own tiution rates, day care from six weeks of age -so no love on top of it to mention just a few items of responsibility
Nothing not even obama, another Boomer responsibility, is as galling to me as people putting hatred on millennial
There is no way millennials are better educated than baby boomers (I belong to neither group); the former’s ignorance in basic math, English, history, geography, etc. is very pronounced in comparison.
As discussions on this thread pointed out, there were lots of reasons why millennial is falling behind their parents’ generation.
I am pointing out the ‘getting a college degree equals automatically smarter and better pay check than your parent’ assumption of this report and you can definitely say about the entitled mentality of a lot of the millennial.
Please. That is not to say ‘putting hatred on millennial’.
“With a median household income of $40,581, millennials earn 20 percent less than boomers did at the same stage of life, despite being better educated, according to a new analysis of Federal Reserve data by the advocacy group Young Invincibles.”
Better educated? Better CREDENTIALED, is how I would put it. A BA degree from a state university isn’t worth what it once was. All you have to do is look at the numbers of students who immediately go for a masters.
Gd bless you for your wonderful family and the proud achievement that your kids were able to succeed and that they get it. But if your highly achieving daughters or the dads or grandparents didn’t raise their kids when they were little, if they were raised by other care, they will have some stories. They will have losses from not being raised by someone who loved them more than life. And we as a society have losses from kids not raised by someone who loved them more than life. Our species needs better than day care. We need a society where one parent, or even grandparent is always available to children. It takes 15-16 years at least of loving supervision to raise a fully competent human.
Millenials come out of college with an average of 38,000.00 in debt.
That’s the average. I paid 7,000 for two degrees and had a career at the end of it
They had better expect an education
The purpose of globalism was to knock the first world labor down to the 3rd world level. It is succeeding.
Wasn’t there an article posted here a few days ago about Millennials who, as a whole, have no basic life survival skills? Don’t know how to change a tire and basically would die from exposure if there wasn’t a Starbucks or fast food place nearby. Pretty eye opening.
And yet not a one of them will be able to assemble the rational thought that it was Obama and Democrats and Universities who robbed them blind and stole their wealth.
I suspect that a large percentage of Gen X are “only children” or have only “half-siblings”.
“Millenials come out of college with an average of 38,000.00 in debt.”
That’s a lot of debt to be carrying when you need to establish a household (even if an apartment), buy transportation to a job, and maybe a dating relationship ($$$). Something has to give. It’s like “Pick any two” (or even 1, in some cases.)
Pick any two what?
What will millennial be doing while we’re sitting around drooling at 84 years old? Taking good care of us? Making fun of us like we do them now?
We are about as good at planning for that outcome as we were choosing tge clintons and the obamas to run the country
Have you had the experience of handing a millennial cashier a $20 bill and 3 pennies when the register rings up to $16.03 and having them stare at you stupidly? I have. They like to talk so much smack about our troubles with Instagram when they probably wouldn’t know what to do with a rake if you handed it to them.
“Some how we blew it in getting the message across that hard work pays off.”
That’s how a liberal becomes a conservative. We stressed hard work to our liberal daughter as well as stressed that she shouldn’t be influenced by anything other than her own belief system. While her liberal friends work at $7.25 an hour jobs, sit around and blame Trump for everything, our daughter, who is 23, makes 35k a year on a service desk, works her behind off, pays for her own college in cash and now hopes that Trump bringing companies and money back to the US will help her grow.
Well, they are bringing “Tiny Houses....TINY CARS.....No dinner dates....hardly any one on one dating even.....marriage hardly ever....and NO BRAINS!!
“Fault millennials all you want and some of it will be deserved, but in case no one has noticed, the economy has been circling the drain for a decade.”
This is true. But what often goes unsaid while we slam the monster Hussein is that the downslide and the crash happened under good ol’ Dubya, the RINO wonder boy. Two failed wars and a market crash unseen since the Great Depression - that’s quite an accomplishment.
The Marxists know you cannot foment a revolution while there is a strong middle class. So, they seek to destroy it as a precursor to revolution.
I know, I lived it, completely altered the trajectory of my life. I didn’t lay blame. The groundwork was decades in the making. It all came to a head under Bush. Obama made it worse and even capitalized upon it.
Boomers by and large didn’t start life with indoctrination debt.
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