Millennials Are Way Poorer Than Baby Boomers Ever Were

a reply to: toysforadults

The elite deliberately stopped the great growth of the American economy from the early fifties to the early 80’s.

One way they did it was by coddling the rich like Trump’s massive tax cut for the rich


They also deliberately broke the union movement.

Unions arent perfect but they do more good than harm and led the way for many great labor innovations

a reply to: PsychicCroMag

Oh, that's a common pattern. Once government gets involved to make a thing affordable, it rapidly becomes unaffordable for anyone. And, while a private institution had some flexibility in dealing with you on your loans, the government had no such interest.

My husband got caught in the government loan mill with his student loans. Mine were done through a small, private credit union. Mine are paid off; his are not. I wonder why ...

And that pattern repeated with the ACA (obamacare). People found out that when the government dictates what it considers affordable, a whole lot of people either need massive subsidy or can't pay for it at all.

a reply to: Willtell

The unions got greedy.

They stopped working with the businesses their workers worked for and started thinking they dictated how those businesses should run.

In many cases, they strangled the industries.

originally posted by: toysforadults
a reply to: Willtell

the problem is workers not demanding higher wages unions are just an organized version of that

all we have to do is decide to not purchase the products and services they offer and it fixes itself

And if we decide not to purchase the products and services they offer....

They fire their employees and maybe go out of business.

Your shortsighted “fix” results in increased unemployment, which, best case scenario, results in an glut in the available employment pool, causing wage deflation because there are so many unemployed willing to work for less just to have a job.

Worst case scenario; the entire industry collapses in this country and sets up, if it survives, in some foreign country: which is what happened to the production of TV’s and most other small appliances.

a reply to: Bhadhidar

The best thing that could be done is a strike supported by other industries. If that is even possible.

What used to happen is if Dana Axle was in some way violating a term in a labor contract, Chrysler- GM-Ford could strike with Dana.

What we have allowed to happen since the Reagan admin with labor and corporate is allow the Fox to build, heat, and secure the hen house with no farmer on the property.


.

originally posted by: ketsuko
a reply to: Willtell

The unions got greedy.

They stopped working with the businesses their workers worked for and started thinking they dictated how those businesses should run.

In many cases, they strangled the industries.

No.

The money that used to go to unions now just went straight to the top. We never hear that ownership and management got greedy. Never.


It's the dirty, shiftless, jealous, uneducated union people that are greedy - always.

a reply to: Scrubdog

In the late 1980's and early 1990's there was a huge problem with the auto companies not keeping pay reasonable. We must keep in mind that both sides agree to the labor contracts, so it boils down to piss poor leadership on both sides.

There must be an equitable partnership do to the symbiotic relationship between labor and corps. But that ship I'm afraid has sailed.

Globalization is a horrible deal for the average person but a great deal for the Corps.

You have way more junk that you don't need than anyone had in the 50s and 60s. Perhaps that has something to do with your money problems.

originally posted by: SR1TX
I make more money than anyone on here and likely the site.

I am a Millennial.

Yup, you're clearly a millenial.


Smh...

I feel Secular Talk is starting to become a bit biased in it's leftism recently... but the core argument is essentially correct, millennials have a far lower chance of achieving "the dream". However the rising stock market is a sign of things getting better now that the U.S. has a pro-business president who has some understanding of what drives the economy, rather than a socialist leader who promotes a nanny state approach to governance. People must help themselves, and we can see that happening with falling unemployment rates.

Perhaps if millennials really want a chance at owning their own home they should stop relying on the government to do everything for them and realize that free market capitalism is what empowered previous generations and it's what can empower them. The paradox here though is that most millennials view capitalism as the cause of their poverty, which drives many of them towards socialism and even communism. I should know, I'm a millennial and for many years I promoted a moneyless resource-based economy where everything was free.

Why are so many Millennials becoming Communists?

Even if you do get a job against all these odds, well have fun earning about $10,000, adjusted for inflation, less than people did 30 years ago with entry level jobs. And also have fun owning about half of what baby boomers did in their early 20's, and also you're in huge f****ing debt. Even though you work more hours there is no job security, you'll never be able to buy a house or retire, that's not an option that will ever be on the table for you because the meager earnings you do get, you have to spend those on staying alive and paying your college debts.

originally posted by: nerbot
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.

Boomer:
15 factories in town, walk in off the street, have a job an hour later.
Job came with salary advancement, room for promotions, vacation, and full benefits.

Me:
I have what's considered a very nice job. They actually sought me out through reputation, I never submitted an application or resume. I make a high wage, but no benefits until a year in. No vacation. Promotions are iffy. 401k match is low, no RSU's. To get in on the entry floor here required 5 degrees and 15 years experience for a junior position.

The employment market is far less favorable today than it was in the 50's and 60's.

You guys don’t know the deal...


It’s kind a deep.


The elite Club of Rome in the 60’s started the idea of what they called limits to growth
www.clubofrome.org...
This philosophy that growth needed to be stopped trickled down slowly to the American elite through the conservative movement. Then started Union busting, tax cuts for the rich, trickle down economics, deregulation; all scams to stop the growth.

I’ve been there; I lived through this, studied this, worked in the Auto industry, the IT industry, and personally took down the CLUB OF ROME forum!


Been there done that

originally posted by: Aazadan

originally posted by: nerbot
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.

Boomer:
15 factories in town, walk in off the street, have a job an hour later.
Job came with salary advancement, room for promotions, vacation, and full benefits.

Me:
I have what's considered a very nice job. They actually sought me out through reputation, I never submitted an application or resume. I make a high wage, but no benefits until a year in. No vacation. Promotions are iffy. 401k match is low, no RSU's. To get in on the entry floor here required 5 degrees and 15 years experience for a junior position.

The employment market is far less favorable today than it was in the 50's and 60's.

Unions

originally posted by: ParanoidAmerican
a reply to: Bluntone22

Exactly. Everyone is a winner and equal. I get this all the time....."So....I know I just started and have only worked a day, but I am going to need the next two weeks off to....." Then why did you apply?

Very common issue in professional environments. You bring up before signing that you have a vacation planned, and either push your start date back, or take the week without pay. No one reasonable has a problem filling this request, and if they do... you don't want to work there.

You guys have been brainwashed:
Hate unions, phony libertarianism and conservative dogma has been seeped in your brains and to hate what you think is socialism.

That is the reason millennial’s are getting the shaft.

When unions were busted, retirement pensions and job security went out the window.
They ran this deregulation, let corporation do what they please scam.

Result: Manufacturing jobs were gone as they imported jobs to Mexico, China, Asia.

That’s where your future went.

I WAS THERE

I KNOW

originally posted by: Willtell
You guys have been brainwashed:
Hate unions, phony libertarianism and conservative dogma has been seeped in your brains and to hate what you think is socialism.

That is the reason millennial’s are getting the shaft.

When unions were busted, retirement pensions and job security went out the window.
They ran this deregulation, let corporation do what they please scam.

Result: Manufacturing jobs were gone as they imported jobs to Mexico, China, Asia.

That’s where your future went.

I WAS THERE

I KNOW

100% correct

There is nothing wrong with a person making a great living. And unions can be a part of that. I would much rather have a Burger King worker make a living wage than be on food stamps even if it means my wopper costs 4.25 than $4.00.

Seems many Limbaugh listeners think that low paying jobs and tax payer subsidies is a pillar of conservatism.

Fast Food, Poverty Wages: The Public Cost of Low-Wage Jobs in the Fast-Food Industry
laborcenter.berkeley.edu...

That’s because then you could get a job with a future and a pension, union benefits, whereas today you get maybe a job you might work a few years and then you have to go looking for another, or you have to work 2 jobs, maybe three.

The best small guy jobs today are with the state or feds where you still have decent unions.

After I left GM and went to Devry U and got into the IT field the head hunters use to call us on the phone—jobs were rampant, UNTIL they started to AGAIN outsource even good IT jobs. Now network engineers who use to could make 150-200 grand can’t easily get that anymore.

An A+ PC tech could get 50 60 grand, not anymore.

originally posted by: Willtell
You guys have been brainwashed:
Hate unions, phony libertarianism and conservative dogma has been seeped in your brains and to hate what you think is socialism.

I don't hate socialism, I hate excessive socialism and virtue signaling, using emotions instead of logic and wisdom to reach conclusions.

When unions were busted, retirement pensions and job security went out the window.
They ran this deregulation, let corporation do what they please scam.

That is such an oversimplification of the problem. You need to look at the root causes behind things like increasing prices and stagnant wages, you have to look at how the money system works and the debt based nature of it, you have to understand Keynesian economics and all the different ways governments spend money and what they spend it on.

Also, regarding jobs. My father lost his job in the middle of the economic crisis around 10 years ago. Worked there all his life, no resume, no college degrees, no references (not a very social guy, doesn't understand networking), doesn't even know how to turn on a computer, can't type, etc etc etc.

He went through 4 or 5 jobs within a year until he found something he liked and stuck with, and is still there today. Meanwhile, people I grew up with and went to school with who never left that area were complaining about not being able to find jobs, in this same period of time my dad was going through this. I asked them if they had tried applying to x, y and z that my dad worked at with much less qualifications than they had.

The response, every time:

"I don't wanna do that kind of job."

But sure, that's everyone else's fault.

a reply to: ChaoticOrder

That is such an oversimplification of the problem. You need to look at the root causes behind things like increasing prices and stagnant wages, you have to look at how the money system works and the debt based nature of it, you have to understand Keynesian economics and all the different ways governments spend money and what they spend it on.

Root causes?

My friend a few posts up I went into the hidden causes of what you speak of(root causes) about the Club of Rome and their Limits to growth philosophy. Those economic nuances you mention are child's play, mere details to the real forces that determine the economic and social forces involved here.

The elite determined that the growth needed to be limited. Of course the rich were allowed to have their unimpeded growth where now you have CEO’s making a zillion times more than the average worker.

This is a well documented plan, not conspiracy theory.