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originally posted by: FlyingFox
I do believe that Gen X was very innovative and gave our world much of modern innovation and THANKFULLY put that Greasy Hippy aesthetic to sleep.
The average Gen X family is nearly 70 percent poorer than its counterparts of the same age in 1984, according to a Pew Research Center study from last year. Over time, this gap has widened. The latter now has 47 times more assets than the former, according to Credit.com's analysis of Pew data.
The recession has affected individuals of all ages. Last week, newly released government data showed that Americans lost a record-breaking 38.8 percent of their wealth from 2007-2010.
some epic timing, to be sure. not only was gen x right in the prime home buying years, but they were also young enough to be investing more aggressively than boomers wrt the stock market. same thing applies to the tech bubble. i'm sure many gen x'ers took a right cross to the jaw in 2000 with the nasdaq collapse, then got a knee to the groin in 2008. and it gets worse! gen x is a sandwich generation between boomers and echo boomers. the boomers took a hit too, so they will be hanging onto their higher level jobs with a death grip unlike any we've seen. then to top it all off, when and if gen x'ers DO get a taste of life at the top of the corporate ladder, hordes of hungry echo boomers will be right on our heels, peeling our fingers back, making us let go, and tossing us into the street in our 60s. and by that time, any ss/medicare benefits that exist will kick in at like 72+.
The other nearby small towns fare no better with our age group, some are pure horror stories. The generations before and after us didn't have it this bad.. Even the old timers who have memories of the great depression looks at everybody in my age group with sadness and a bit of fear..
Three of my childhood pals committed suicide in the last year.
8 of my old classmates from our small town school system (24 for the whole class) have been maimed and disabled in these damned wars.
3 have died in these wars.
1 work related death, 2 of cancer, 1 of heart attack.
Many of us have been or are currently in prison.
Only 4 of us live a "normal respectable life".
Of those 4 only 2 can be considered financially secure.
I'm the only one who accepts that it is about to get MUCH worse.
We Gen xer's didn't just get hosed, we got set on fire and then had the flames put out with an icepick..