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The Unsexy Truth About Millennials: They’re Poor
Daily Beast ^ | 05 August 2016 | Samantha Allen

Posted on 08/15/2016 11:06:57 AM PDT by Lorianne

Millennials are not some vast unsolvable mystery. According to a report from the U.S. Census Bureau (PDF), they earn $2,000 less than their parents did at a comparable age, they are more likely to live in poverty, and they are more likely to live at home.

But Baby Boomers and Gen Xers still seem to find it hard to believe that basic economic math can explain much of the younger generation’s behavior.

After several news outlets, including The Daily Beast, reported that rates of millennial sexual inactivity in early adulthood are surprisingly high, armchair social theorists came out in force to blame it on everything but the fact that nearly one-third of young adults are still living at home.

One right-wing college news website found a way to attribute the finding to millennials’ desire for “safe spaces.”

Conservative New York Times columnist Ross Douthat speculated on Twitter that it was an example of the “porn paradox,” whatever that means. Others attributed it, predictably, to the effects of technology or increased anxiety. A Rutgers biological anthropologist even suggested that millennials might be too “motivated” and “ambitious” to even bother with sex.

The most likely explanation—which was mentioned in the study itself—is that parents’ basements do not make great boom boom rooms. But who needs Occam’s razor when you’re publicly opining about the behavior of an entire generation? Lower wages sending 22-year-olds back home after college isn’t nearly as sexy as complaining about porn or political correctness.

The truth is that lower wages and poverty can account for so many of the things that older generations find so mystifying about millennials.

For example, millennials drive less than their parent’s generation—and until recently, at least—were relatively uninterested in buying cars. As The Atlantic reported in 2012, this crisis prompted automakers to appoint “youth emissaries” and come up with new car colors like “techno pink” and “denim.”

But trying to make cars cooler doesn’t change the fact that, as CityLab found, there’s a significant gap in vehicle miles traveled between millenials who make over $30,000 a year and those who make less. Simply put: Cars cost money and millennials have less of it.

Millennials have also been shamed for how much they spend eating out instead of say, saving for retirement. “Millennials Are Spending an Embarrassing Amount on Brunch and Takeaway Pizza,” Vice recently declared.

It’s easy to chalk that generational difference up to some sort of narcissistic short-sightedness but the truth is probably a lot closer to fatalism: When millennials can’t save for retirement anyway, why not spring for some bottomless mimosas instead of enrolling in a 401(k)?

SNIP


TOPICS: Business/Economy
KEYWORDS: bhoeconomy; debt; economy; millennials; poverty; wages; wastedyouth; youthvote
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To: WilliamCooper1
Highly educated, unemployed, disenchanted youngsters is a recipe for social revolution.

They all have Bernie stickers on their mopeds.

21 posted on 08/15/2016 11:21:49 AM PDT by henkster
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To: WilliamCooper1
You might want to thank a millennial for paying your social security, medicare, etc.

And soon-to-be Medicaid - which just about everyone in a nursing home needs/uses.

22 posted on 08/15/2016 11:22:00 AM PDT by gdani
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To: Lorianne

They’re poor, dirty, stupid. Did I say stupid?


23 posted on 08/15/2016 11:22:05 AM PDT by fwdude (If we keep insisting on the lesser of two evils, that is exactly what they will give us from now on.)
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To: Mouton

Good point.

I wonder how many so called “conservatives” on this board lecturing millennials took “draft deferments” 45 years ago to hang out at the university and blow dope all day.


24 posted on 08/15/2016 11:22:35 AM PDT by WilliamCooper1
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To: WilliamCooper1; All
I love responses like this. Are you a baby boomer? Because if you are, you enjoyed one of the most socialist periods in American history. I bet you visit the doctor five times a week on your medicare. You might want to thank a millennial for paying your social security, medicare, etc.

That may very well be my young friend, but the fact is that we baby boomers (I am 58 yrs old) NEVER ASKED FOR, nor were we given any choice about, medicare, social security, etc. If we 'enjoyed one of the most socialist periods in American history', as you state, it was AGAINST OUR WILL! And it accounts for the crushing burden of debt that not only my generation, but your generation, and your children's children's generation, will be stuck with. THAT'S what socialism gets you. Oh and by the way, I probably visit the doctor a total of 2-3 times per year.
25 posted on 08/15/2016 11:22:36 AM PDT by notdownwidems (Washington DC has become the enemy of free people everywhere)
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To: Lorianne

This explains the Tiny House “fad”, only it’s not merely a fad, it’s the only way to get out of Mommy’s basement.

Now if they could see the correlation with socialism and poverty, there would be hope.


26 posted on 08/15/2016 11:23:09 AM PDT by 109ACS (When hiking in bear country, always take along a fat guy.)
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To: William Tell

I see you support government sanctioned theft of the fruits of labor, shouldn’t you be posting on HuffPo?


27 posted on 08/15/2016 11:23:55 AM PDT by WilliamCooper1
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To: napscoordinator

Well, they are pretty much assured of not seeing the inside of a military uniform either. Most of those born before 1955, not so much either by choice or demand.


28 posted on 08/15/2016 11:24:03 AM PDT by Mouton (The insurrection laws maintain the status quo now.)
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To: Lorianne

They have to compete more directly with immigrants.


29 posted on 08/15/2016 11:24:11 AM PDT by Brilliant
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To: Lorianne

Sad article. Kids who have never even seen a good economy.


30 posted on 08/15/2016 11:24:11 AM PDT by Blackirish ("Political correctness is fascism pretending to be manners." - George Carlin)
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To: WilliamCooper1

I’m a “boomer” near the end of that generation, and no, I don’t visit the doctor but perhaps once a year for a checkup.

Sorry to burst your bubble, but the “productivity” of the millennials can’t hold a candle to previous generations.


31 posted on 08/15/2016 11:24:14 AM PDT by fwdude (If we keep insisting on the lesser of two evils, that is exactly what they will give us from now on.)
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To: Lorianne
The Unsexy Truth About Millennials: They’re Poor

They don't care. They're waiting for all the Free Stuff Bernie promised.

32 posted on 08/15/2016 11:25:18 AM PDT by The Sons of Liberty ("We re going to raise taxes on the Middle Class!" - HRC Aug 3, 2016)
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To: Lorianne

Take a look around any hip town. The bearded hipsters are drinking $6 pints of beer, $6 morning coffees, and having $20 fair trade organic gluten free salads for dinner. I remember my Ramen Noodle days even after college trying to get by. Why save when mom’s basement is free. Not all. We just hired an engineer who tries hard. He had to have his ass chewed a few times to put him in his place. He never had ANYONE straighten him out so didn’t know any better.


33 posted on 08/15/2016 11:25:43 AM PDT by Organic Panic (Hillary Clinton, the elderly woman's version of "I dindu nuffins.")
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To: Blackirish
Kids who have never even seen a good economy.

Nor a good Republican President.

34 posted on 08/15/2016 11:25:56 AM PDT by dfwgator
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To: WilliamCooper1
I bet you visit the doctor five times a week on your medicare.
And he/she would have to pay five times a week while also paying the monthly premium.
It was the WWII generation who gave us the SS/ Medicare system. All the boomers did was pay for it all their lives.
35 posted on 08/15/2016 11:26:34 AM PDT by oh8eleven (RVN '67-'68)
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To: notdownwidems

By definition then, your generation is worthless left-wing commie wobblers. Don’t blame us for being forced to shoulder the burden that you left-wingers bestowed upon us.

Essentially, you boomers want your socialism, but don’t want anyone else to have it.


36 posted on 08/15/2016 11:26:51 AM PDT by WilliamCooper1
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To: Fido969
I'm 62 and we are not "flushed" with money but do okay...

its MUCH harder for younger people to even get going...

they follow the rules..

pay taxes

buy obscene car and health insurance..

try to save in our upside down economy where saving is punished...

they were promised all this wonderful "Friends" life and instead, they get mundane jobs with diminishing prospects...

our taxing policies have basically destroyed their chances...

37 posted on 08/15/2016 11:28:16 AM PDT by cherry
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To: fwdude

Yea, right. The same generation that dominated the economy with mafia controlled union shops. I am sure you were more than productive.


38 posted on 08/15/2016 11:29:30 AM PDT by WilliamCooper1
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To: WilliamCooper1

“Highly educated” in what way? Lesbian studies? Art history?

People with medical and technology degrees are in high demand. Starting salary for programmers out of most state colleges is around $65k.


39 posted on 08/15/2016 11:30:00 AM PDT by ConservativeWarrior (Fall down 7 times, stand up 8. - Japanese proverb)
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To: Mears
I’m 83. That’s EXACTLY what we said about hippie Boomers in the 60s,

LOL!

40 posted on 08/15/2016 11:31:47 AM PDT by American Quilter (Hillary is an Unindicted Criminal.)
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