Millennials Are Way Poorer Than Baby Boomers Ever Were

I get so sick of hearing about how my age group caused all of our economic problems. This guy just nails exactly how I feel.

Oh I also forgot to mention, I'm also tired of watching everyone get the shaft financially. Most people working none stop with no time or money in their free time to even do anything. The entire nightlife has fricken died in my area and crime has gone up 100% every year.



Now, I am very libertarian. I am not left leaning. In fact every year I become more anarchistic in belief. That's just me though. Also, to clear things up I don't believe unions are the answer either because they limit potential and centralize labor organization which in my opinion is not the answer. It's far to susceptible to corruption which I have personally experienced and they don't work for the workers anymore. I also believe people need room to excel and unions destroy opportunities for those who can excel.

But I'm sure someone will be along to tell me how great everything is because of the DOW ignoring all other economic indicators that have been telling us a different story all along.

a reply to: toysforadults

Shhhh.

The money being made by the corporations has only increased with rising productivity. But it isn't being shared with the 'workers' who hate unions. And this is the reason it is so difficult to afford health care, autos, homes on a "regular" job.



And sadly it is getting nothing but worse. So shut up and work for a fraction of what people got in 1970.

a reply to: seasonal

where do people think all this DOW bull market has come from?

it's coming from companies using their massive amounts of liquidity to purchase their own stock back.

ugh where is everyone's brain at

I hear the beatings will continue until morale improves.

a reply to: Lysergic

oh just watch, you need to work harder or learn plumbing.

just count how many times you see that

oh I'm a carpenter by trade and I am getting a degree in networking and security

a reply to: toysforadults

Don't trip, despite what state minions proclaim, you are seeing clearly.

a reply to: toysforadults

Check this spreadsheet out, some of these companies have P/Es greater than 300. That basically means it would take 300 years to double your money invested in these companies and yet their stock prices keep rising.

finviz.com...,fa_pe_o50&o=pe&r=201

Central banks are also buying stocks now to bolster their prices, Switzerland buys stocks openly as does the Bank of Japan. I think the fed is buying stocks through proxy banks.

Eventually it will get beyond their ability to control and boom, reset.

a reply to: toysforadults

Millennials are so poor they can't even pay respect

Boomers said the exact same thing when they were in their 20's

a reply to: SkeptiSchism

You nailed it

The central banks are printing money and buying stock to prop up the economy while they work on a patch aka blockchain

a reply to: toysforadults

Can't say I care about millenials. They see further education as normal and expect to have a highly paid job right from the start and fall foul when they relise they have to actually work hard and promotions are not just around the corner.

Welcome to the real world.

a reply to: Bluntone22

Did they say that when they could literally walk many many great paying factory jobs and have a job for life with health care benefits, a pension and huge job security?

And yes the world has changed since 1958. I Wonder what/who these changes are rewarding...

And how many Millennials have a cell phone (with accompanying monthly payment), Internet access to post their narcissistic rantings (with accompanying monthly payment), and monthly cable/TV payment that the boomers did NOT have to spend their money upon? That Boomer money went to essentials like food, housing, transportation.....things to help keep you and family alive. Not things that help you whine and moan about your lot in life all while expecting someone to fix it for you.

originally posted by: seasonal
a reply to: toysforadults

Shhhh.

The money being made by the corporations has only increased with rising productivity. But it isn't being shared with the 'workers' who hate unions. And this is the reason it is so difficult to afford health care, autos, homes on a "regular" job.

To portray it fair you have to have more factors represented in the chart - for instance the cost per worker, and the level of investment in productivity. Without that it seems like the workers simply work harder now than in the 40's and 50's and that is seldom the case.

It is manly heavy investments in machines, computer systems, and other technology that have driven the increase in productivity.

I am not overly knowledgeable in American work and workplace development, but if it is anything like other Western, industrial nations, work and workplaces are WAY more regulated and workers way more protected and have way more rights and benefits now. Working has not, as a whole, become tougher than in the generations of our parents and grandparents. Not even remotely so.

My point is that productivity does not reflect workload, so that it is not reflected in the hourly compensation either is neither surprising nor intrinsically 'wrong' in a not-socialist nation.

How many millennials also have much higher college debt payments than baby boomers too?

That might be part of your problem.

originally posted by: toysforadults
a reply to: Lysergic

oh just watch, you need to work harder or learn plumbing.

just count how many times you see that

oh I'm a carpenter by trade and I am getting a degree in networking and security

Even so, no matter what you do the story is the same all over.

Boss expects more work and they want to pay less and less.

Forget raises and bonuses; they look for more ways to take back from hard working people.

The title is ambiguous. I'm at the tail end of the baby-boomer generation. I started out poor and now have an upper middle class life. By the time I reached that level, I was already older than a millennial. So, what's your question?

If and when the economy booms and it becomes a market more favorable to labor, then things will improve, but not until.

If there is more labor available for each job, then conditions favor employers and they can more or less dictate because if you quit or refuse the conditions they lay out, there are often many more qualified potential employees who aren't as proud as you, especially further down on the job scale where millennials tend to be.

If the economy booms, then that available labor pool dries up and employers have to sweeten their deals to entice the better potential employees. That's when you get better pay and better perks, better conditions overall, but until that happens, this is what it is.

originally posted by: LogicalGraphitti
The title is ambiguous. I'm at the tail end of the baby-boomer generation. I started out poor and now have an upper middle class life. By the time I reached that level, I was already older than a millennial. So, what's your question?

Quiet now, you'll harsh their complaining with actual facts. And, you risk hurting their fragile feelings and (manufactured) self esteem.

originally posted by: seasonal
a reply to: Bluntone22

Did they say that when they could literally walk many many great paying factory jobs and have a job for life with health care benefits, a pension and huge job security?

And yes the world has changed since 1958. I Wonder what/who these changes are rewarding...

Yes, yes they did.
And those benefits are why so much # is made in China.
Do you seriously think everybody had it made in the 50's and 60's?