You mean the generation that paid three times as much for college to enter a job market with triple the unemployment isn’t interested in purchasing the assets of the generation who just blew an enormous housing bubble and kept it from popping through quantitative easing and out-and-out federal support? Curious. - epic comment on an Atlantic article entitled “The Cheapest Generation: Why Millennials aren’t buying cars or houses, and what that means for the economy”. And that is a very valid point. The values and signs of success for previous generations are, in many ways, no longer valid. It used to be that a college education was a near-guarantee of good and steady employment; now, its virtually the equivalent value of a GED in our parents era and a massive albatross of congealed, bankruptcy-proof debt. A house used to be an investment, a source of equity and stability; now youre as likely to lose value as to gain it, unless youre wealthy enough to buy somewhere expensive and successful. Buying cars on a regular basis is for people with the padding to absorb the loss that you take from depreciation of the previous vehicle, and that financial padding is more rare these days since more and more people are having to use their savings to survive long bouts of unemployment rather than to buy a car or go on a big family vacation. The way that things are now, everything costs more, and everything pays less. The debt you rack up with college stays with you longer, the cost of living draws more out of you, and all the while were told were greedy for wanting a living wage, for wanting to be paid a wage commensurate with the productivity demanded of us, while the corporations (many of which pay no taxes or actually get paid by the government to make money) sit on huge stocks of money and pay their select few huge salaries with golden parachutes that could double as third-world countries whole economies. So yes, us poors are going to be cheap; after all, our betters have taught us so well by example.
Posted on: Thu, 13 Mar 2014 03:47:54 +0000
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