Millennials Are The New Lost Generation
https://www.theatlantic.com/ideas/archive/2020/04/millennials-are-new-lost-generation/609832/
"...Put it all together, and the Millennials had no chance to build the kind of nest eggs that older generations did—the financial cushions that help people weather catastrophes, provide support to sick or down-on-their luck relatives, start businesses, invest in real estate, or go back to school. Going into the 2008 financial crisis, Gen Xers had twice the assets that Millennials have today; right now, Gen Xers have four times the assets and double the savings of younger adults.
Millennials now are facing the second once-in-a-lifetime downturn of their short careers. The first one put them on a worse lifetime-earnings trajectory and blocked them out of the asset market. The second is sapping their paychecks just as they enter their peak-earnings years, with 20 million kids relying on them, too. There’s no good news in a recession, and no good news in a pandemic. For Millennials, it feels like there is never any good news at all."
Fuck, that hit close to home...
