Millennials are definitely screwed as are Generation Z. Many of them are deep in debt from college loans and the "American dream" of home ownership will never be more than just a dream because of the high cost of housing. But why are they blaming Boomers?
Well, we did come of age in the '70s and '80s when jobs began to be outsourced in great numbers overseas. Factories were shutting down and those jobs — many of them decent paying union jobs — were lost forever to Americans and sent to underdeveloped countries where labor was dirt cheap.
During the '90s, housing prices took off and they've been skyrocketing ever since. At the same time, taxpayer funding for higher education has dropped off precipitously — thus, the student debt problem. The '90s were when GenXers came of age so why aren't they being blamed for the problems during that time?
Millennials came of age in the 2000s, thus their moniker, so they're partially to blame for the Great Recession, but the causes really date back to the '90s and GenXers.
So what exactly are Millennials doing to fix the problems they're experiencing? Not a damn thing unless complaining counts as action.
I've noticed this online in the past 5+ years or so. Never heard any of it before that. I don't know the source of it, but I know I never trashed my parents' generation, quite the opposite.
I think it's just a bunch of excuse-making. There are all kinds of jobs out there for the taking, including well-paying jobs in skilled trades (which I was in). With overtime, and some years of experience, they could make $100k per year (although I never did). Forget college, they're just indoctrination centers.
They probably think they should be able to start out at a high wage. That's stupid thinking. Inexperienced help starts at the bottom, and if you pay attention, show up on time, have a good work ethic, you will move up the ladder. I've talked to various people I know in recent years, most in the construction business, and their biggest problem is finding kids who will show up and actually work when they get there.
And shifting the blame to us? I started working part time when I was about 15, (1965) still in school, graduated in '68 and have been working full-time and paying my own way since. I've recently been forced to quit and close my business because of severe hand/wrist arthritis and I'm not happy about it. I'll be 71 next month, enjoyed what I did and planned to keep going. But I physically cannot.
Through careful self-taught investing over decades, and living below my means, I have funded my own retirement (aside from SS). I can live quite comfortably just withdrawing interest and dividends.
And MY LIFESTYLE has screwed the world up for younger generations? I don't think so, to hell with them. Maybe someday they'll figure it out.
A side note: Most things do not cost more than they ever did, as they are apparently whining about. The only thing that has changed is the value of the dollar. Blame Washington for that.
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Numbers are rough, but tell the story:
In the early '60s, they built a new housing tract near us. Brand-new, 4-bedroom, 1.5 baths, two-car garage homes in the 'burbs were selling for around $30,000. Multiply that by 10 for today. Skilled tradesmen were making about $3.00 per hour.
I bought a brand-new '68 Camaro when I got out of high school. It was stripped, but the sticker was $2,700. Multiply that by 10 for today. I started my toolmaker apprenticeship for $2.72 per hour in '68, which was higher than most places.
Gasoline during that era was around 26-28¢ per gallon. Ignoring the recent spike and going back to last year, multiply that by 10 for today.
Cry me a river.