Why millennials are facing the scariest financial future

originally posted by: toysforadults
a reply to: wdkirk

Those jobs just don't pay well enough anymore to attract talent.

Oh its the young generation that are lazy!

Yea sure.. Maybe try upping the pay scale to something reasonable to start... Something you can pay your car insurance rent and food with.

No, no, no; just get a second job in order to survive. Plus since you’ll never have any free time you won’t need to spend money on things like internet and cable.

“Work will set you free.”

originally posted by: toysforadults
a reply to: wdkirk

Those jobs just don't pay well enough anymore to attract talent.

Oh its the young generation that are lazy!

Yea sure.. Maybe try upping the pay scale to something reasonable to start... Something you can pay your car insurance rent and food with.

You plebians should be happy we give you enough to afford that fancy feast. No reason to complain, its got 'fancy' in the name for chrissakes!

This started before Millennials came of age. The going to college scam was pushed back in the late 80s to into the 90s for school age students. Not everyone can be considered college material but were pushed to do so by educators then, leaving the gap of those going into other employment sectors. For profit colleges, for those unaware of the implication to those who weren't University ready,(now some are being shut down) preyed on those with bad credit. Not that factory jobs and more were not affected-moved from the US, etc, because they were leaving even less employment opportunities for those who were seeking those jobs.

Going into the 00s; Those with college degrees were seeking service sector jobs well below their qualifications. Where did that leave those with diplomas and GEDs? Those who didn't go to college, won't even be considered for housekeeping in nursing care to even fast food due to competition between those who went to college.

The debt incurred from college loans, not only limits loans for housing and even having their own business, but affects all facets of life for those who have it. Even people at the lower end bracket of debt(under 10 thousand), have issues even renting to finding work from employers that require good credit, let alone getting a loan to buy a house(that crashing during the real estate bubble).

Now as many live paycheck to paycheck homeless from their cars to sharing housing with others their age, if not living at home, credit card debt also is playing a role in it as well-as it likely is with all other groups.

Well for a good couple of couple of generations, technology an science could catch up with it self to make a living, and couples would have a jack rabbit like birth rate because of high rate of mortalities.

Parts were expensive, while labor was cheap were today labor expensive and parts are cheap. Black Smith's are still useful, even if it a crude, it's cheap to what can be built today. Today blacksmith or watchmaker will be yesterdays Cable Guy.

a reply to: eNumbra

You must own a corporation.

a reply to: eNumbra

You must own a corporation.

a reply to: o0oTOPCATo0o


Look at all your stars.

Clearly, the problem is more widespread than previously imagined.

This year, China and India will matriculate 12 times as many college grads as the USA. Lots of these grads are computer scientists. They will get the jobs before American grads because they work for less and have zero debt.

Your fantasy that most grads have worthless liberal arts degrees is just that. Ten minutes on Google will disabuse you of that notion. A day spent at the local university will teach you more than you will ever learn on ATS.

There aren't enough apprenticeships to go around.

College debt is big business.

These chickens are coming home to roost and they will eat your lunch to.

a reply to: Willtell


The main thing being Millennials cant afford kids, that's what this stuffed system has caused. The consequences of this will be felt quite quickly and if you think the economy is bad now, unless local food production and manufacturing starts up as some type of second black economy things could get quite grim.

originally posted by: smkymcnugget420
a reply to: Willtell

unions are evil

Unions are the reason our jobs are getting shipped overseas..why deal with union extortion when you can ship it to India and not have to worry about labor laws.

It is always cheaper to hire labor in third world and communist countries that do not have rights as workers do under capitalism. What changed is the mega corporations went on a major campaign to have politicians work for them instead of working for the country. That started in the 70s as part of their globalist nwo and it has been downhill since then for everyone but the top.

originally posted by: dothedew
Back on topic, there's a thousand things that are sending our nation down the crapper.

One of them is...... drum roll please....... UNIONS!

I've worked automotive quality control (3rd party), I also grew up in a Union family, with my grandfather (now deceased) being the longest serving road commission union president in the history of the united states........ I know the good they have done, as well as the damage they cause. They pioneered workers rights....... however, we have laws in place now. At this point, you have a union rep that is decided based on whoever they like more (not seniority or merit, in most cases), arguing for wages without your input, driving up costs for everything to be made (Do you really need to make $25 an hour to stand on a line and put 6 screws in holes? I don't think so). Business are put out of business due to strikes, strikes are done against small businesses simply for not using union labor...... Bottom line, they were fantastic up until the mid 90's. Since then, they have been nothing but a hindrance.

On top of this, you have all the other items mentioned in the OP. There's so many things that were listed that were both hit and miss, I didn't even know where to start...

Unions only account for 15% of the workforce.
Still, companies are moving to China.
In Communism, workers have 0 rights so it will always be cheaper to hire them over a worker under capitalism.

originally posted by: JAGStorm
a reply to: eNumbra

I'm saying it doesn't calculate to the time, (for us old people that remember) I'm saying that Romebyfire case seems unusual and certainly not the norm. Talk to some old people and ask them what their starting wage was. Mine was $3 and hour and I thought that was great!

Average family income in the country was $6,691, 57.9 percent higher than in 1950. Average family expenditures, $5,390, had increased 41.5 percent from 1950. This amount would have pur- chased $4,366 worth of goods and ser- vices in 1950 dollars. Median family income in 1960 was $5,620. The census at the time says it was even lower.

A salary of 13.60 hr assuming you worked 40 hours would be over $28K, so $13.60 in 1960 terms would have been 4x what the average joe makes.

This is all thanks to the NWO Globalism.
The leaked Citigroup memo to their wealthy clients spells out what the future holds and it is not pretty for the majority.
The issues are intentional and systemic.

politicalgates.blogspot.com...



Citigroup explains how the "non-rich" consumers become increasingly irrelevant within the "plutonomies":

originally posted by: smkymcnugget420
a reply to: Willtell

unions are evil

Unions are the reason our jobs are getting shipped overseas..why deal with union extortion when you can ship it to India and not have to worry about labor laws.

Yes, its so much better when companies exploit workers than the other way around, right? Its too bad there couldn't just be some kind of symbiotic partnership, but I guess greed wont ever allow that. Its either the greed of companies or the greed of unions, but its greed all the same.

a reply to: LogicalGraphitti

Where's the money going? Sports teams and the pockets of administrators.Look into how much major institutions spend on things like new stadiums, and compare that against their other facilities and what students are paying while athletes get a free ride.

originally posted by: smkymcnugget420
a reply to: Willtell

unions are evil

Unions are the reason our jobs are getting shipped overseas..why deal with union extortion when you can ship it to India and not have to worry about labor laws.

BS
Cheap labor is why textiles (largely not unionized) are gone. When your underwear is made in packistan and not the US do you see a discount in the price?

Are autos that are built in the US cheaper if they are non union? Are union built cars more expensive?

Are the info/technology jobs that are shipped to India Unionized here in the US?

Unions protect jobs. Is there abuse, yes, but I would rather have a contract to work under. You know like the CEO has.

Millennials are moving back in with their parents Nearly 40 percent of Florida adults ages 18-34 are living with their folks

www.salon.com...

Their not moving back home because they miss ma and pa, its because the job market is filled with non career terrible jobs

I think everyone seems to forget too, the impact inflation has had on the ability to make a single full-time job work. Governments have learned that to cause the least amount of public suspicion this was happening, it was implemented at an annual rate of 5% devaluation per year. And without an increase in compensation, wages, benefits, etc. this is the part this hits US hardest. The baby boomer generation had a massive advantage to us millennial 40-50 years ago on the ability of what their dollar was actually able to purchase.

a reply to: Blackhawk0044

Our system of fiat non backed currency is based on debt. Never ending debt. The system in the short term benefits many. But as we are now seeing, it is untenable and we are heading toward the inevitable solution or ending.

The system needs a backed currency. The power to "mint" needs to go back to the Congress.

The reason the Fed was put in place was to stop boom bust cycles. They have failed and failed miserably.

With petro dollar we are in deep doo doo.

a reply to: seasonal


It's long past time for Union factories, I bet they could compete and pay a good wage.

a reply to: Willtell

Technology and globalism have made it more difficult for millennials now that they have to compete on a global scale, no longer will it be a national scale competition. It is just reality as we move into a more International Socialism society, where wealth from the most wealthy countries will be redistributed to the third worlds until they are equalized.

a reply to: 0zzymand0s

Thanks for the insult.
I really appreciate you taking my hyperbole literally, too.

Great way to have a conversation and/or have a debate.