Net worth of Americans aged 18 to 35 has dropped 34 percent since 1996

[Anonymous No.13967774]

>The Deloitte study found that the generation is paying more for education, food, transportation and other basic needs, while their incomes have stayed steady.

>The group's average net worth is now below $8,000, putting today's millennials in a worse financial position than previous generations.

>Deloitte researchers told The Washington Post that the study's findings “debunk many conventional wisdoms about the new-age consumer.”

>“The narrative out there is that millennials are ruining everything, from breakfast cereal to weddings, but what matters to consumers today isn’t much different than it was 50 years ago,” chief retail officer Kasey Lobaugh told the Post. “Generally speaking, there have not been dramatic changes in how consumers spend their money.”

>According to the Post, education costs have risen 65 percent in the past decade, more than any other category.

>The study found that many Americans age 18-35 often put off making larger purchases such as homes or automobiles because of immense financial pressure and a lack of available income. A study in 2017 revealed that about one-third of this age group still lives with their parents, another sign of potential financial woes among younger Americans, and are putting off marriage until they are older.

https://thehill.com/policy/finance/446372-net-worth-of-americans-aged-18-to-35-has-dropped-34-percent-since-1996-study

[Anonymous No.13968014]

>>13967774

[Anonymous No.13968036]

>>13968014
but muh profits

[Anonymous No.13968136]

>>13968014
What's real sick about this is the increased productivity would have lowered prices if not for the government mandated inflation.

[Anonymous No.13968164]

>>13968036
yeah this actually means gen x was the first generation royally screwed but they carried on.

boomers actually ruined everything.

[Anonymous No.13968255]

>>13968164
Did boomers ruine everything collectively or are they really guilty on an individual basis? I have a hard time believing that current generations wouldn't have ruined everything the same way

[Anonymous No.13968289]

>The group's average net worth is now below $8,000, putting today's millennials in a worse financial position than previous generations.
Lmao and I thought I was poor by only having $45k in meme coins at the age of 27 GET FUCKED POORFAGS

[Anonymous No.13968290]

>>13968255
they ruined everything out of careless negligence collectively.

[Anonymous No.13968305]

>>13968290
and they probably fucked up the planet too.

[Anonymous No.13968351]

>>13968289
You only make the money when you cash out

[Anonymous No.13968426]

>>13968351
Sure, but I'm well in the green and am not selling anything until my stacks are worth somewhere in the mid-six figures. Buying $300 of BTC weekly for the rest of the year.

[Anonymous No.13968458]

>>13968036
>>13968014
>>13968136

>What are computers

[Anonymous No.13968461]

>>13968255
It's more like mass individual complacency and generally not caring what happens to the world around them as long as they get vacations and ATVs. The act of doing nothing is often more destructive than taking action

[Anonymous No.13968463]

>>13968136
Are you referring to monetary policy? I'm brainlet but had an introductory economics class.

[Anonymous No.13968474]

How much of this is due to iPhones and avocado toast though?

[Anonymous No.13968487]

>>13968474
Hey graham stephan
Muricans are so poor how can they even afford to buy bitcoin?

[Anonymous No.13968547]

Imagine being responsible for your own shitty decisions like going 100k into debt for a undergrad feminist studies degree. And now imagine you don't want to pay off your debt, like a pampered little nigger. The younger generation is the generation of gibmedats

[Anonymous No.13968604]

>>13968547
This.
There is definitely some fault on society for making kids think it's a good idea, but ultimately everyone is responsible for their own choices. It's our fucking tax money being pissed away and siphoned by McGraw Hill, Pearson and Sodexo though.

[Anonymous No.13968608]

>>13968547

It's okay, they'll just vote in a communist Congress and president and have them forgive all student loan debt and add it to the national debt, which will further erode the quality of life of the next generation, which is exactly what the boomers did.

[Anonymous No.13968635]

the government takes 50%+ of a working persons earnings via taxes and fees. some obvious, like income and property tax, and some not so obvious, like sales tax, gasoline tax, car registration fees, mobile phone taxes etc.
Government budgets are raised every year, without fail, providing the justification for increasing taxes every year, ever so slightly.
inflation + sales tax on inflated prices is a double hit on the consumer.

We are in a crisis created by big government. Taxes on the first 100k earned should be zero, and tied to inflation, so next year it will be the first 102k of your earnings are tax free, then a little more than 104k, etc.

[Anonymous No.13968673]

>>13968547
Imagine thinking you are owed a high ROI for no collateral loans to kids with no jobs for an undergrad feminist studies degree.

[Anonymous No.13968689]

>>13968673
Enjoy your lifelong debt faggot

[Anonymous No.13968691]

>>13968635
In other words, this is all a scam.

[Anonymous No.13968754]

>>13968547

>Boomer parents guilt trip you into going to college because they don't want little jimmy doing a trades job that they feel is beneath them

>School and teachers push kids to go to college to earn more money and that they'll end up as garbage men if they don't

>Banks give loans to kids without collateral to major in something without economic demand and then prevent them from being able to default on their obligation

>University keeps students emotionally stunted and keeps them in a liberal bubble

Sorry but most people don't realize the scam of university until after the fact and something needs to be done about it.

[Anonymous No.13968978]

>>13968689
Enjoy having to pay for free college and more anti white propaganda because would were upset about your sunk cost and wouldn’t make a compromise

[Anonymous No.13968990]

>>13968635
>the government takes 50%+ of a working persons earnings via taxes and fees

Apparently tuitions are as bad as they are in the first place due to Boomer cuts to educational spending. It certainly isn't being too far to the left that makes the U.S. unique.

https://www.theatlantic.com/education/archive/2018/09/why-is-college-so-expensive-in-america/569884/

>In this public system, the high cost of college has as much to do with politics as economics. Many state legislatures have been spending less and less per student on higher education for the past three decades. Bewitched by the ideology of small government (and forced by law to balance their budgets during a period of mounting health-care costs), states have been leaving once-world-class public universities begging for money. The cuts were particularly stark after the 2008 recession, and they set off a cascading series of consequences, some of which were never intended.

>The easiest way for universities to make up for the cuts was to shift some of the cost to students—and to find richer students. “Once that sustainable public funding was taken out from under these schools, they started acting more like businesses,” says Maggie Thompson, the executive director of Generation Progress, a nonprofit education-advocacy group. State cutbacks did not necessarily make colleges more efficient, which was the hope; they made colleges more entrepreneurial.

Current employer market is another big issue. Not sure how we ended up there but employer insistence that everyone has a degree for menial jobs means universities can charge whatever they want and those who can pay for it will.

>>13968255
>ruined everything the same way

American boomers fucked things up uniquely bad, squandering the strongest economy the U.S. had ever seen, leaving it less than what they inherited. Meanwhile Japanese, Chinese, and European boomers rose their nations to power after being devastated by WWII and literally nuked.

[Anonymous No.13969033]

>>13968978
You were*

[Anonymous No.13969048]

>>13968014
Wagies BTFO

[Anonymous No.13969149]

>>13968990
>American boomers fucked things up uniquely bad, squandering the strongest economy the U.S. had ever seen, leaving it less than what they inherited. Meanwhile Japanese, Chinese, and European boomers rose their nations to power after being devastated by WWII and literally nuked.

They inherited this economy because Europe was ravaged (lots of exports).
If you think euroboomers are any better you are completely deluded.
Debt is a secondary issue compared to the browning of the West, if the US were still 90% white burgers would still have a fraction of their current problems.

[Anonymous No.13969177]

>>13968014
>what is outsourcing, illegal immigrants, computers and machines

"PrOdUcTiViTy"

[Anonymous No.13969227]

>>13968990
Colleges are subsidized by government back student loans. With guaranteed government backed student loan (GBSL) money pouring in, colleges have no incentive to innovate, and every incentive to increase largess and raise tuition every year.
Colleges rarely grow enrollment, because that requires effort. They prefer to raise tuition and become more selective with regards to who they accept, when faced with a great demand from prospective student. This is like mcdonalds only having one restaurant and charging every customer 10k per burger and only allowing 20 people inside at a time.

Education needs innovation, competition and massive disruption to make it more affordable. The GBSL money, along with all the regulations attached to that money, prevent any change from happening.

[Anonymous No.13969229]

>>13969149
>If you think euroboomers are any better you are completely deluded.

European countries such as Denmark have higher social mobility and better quality of life and they didn't luck into that either. The whole tuition and debt problem that many Americans just assume is inevitable is a non-issue to them and European boomers are the ones who created that framework. What is one to make of that?

[Anonymous No.13969250]

>>13967774
REMINDER: BOOMERS LITERALLY SOLD YOUR ENTIRE FUTURE... FOR CORPORATE TOYS LIKE BOOMER MANSIONS, RV's, $70,000 SUV's, BOATS, ETC ETC.

THERE WILL LITERALLY NEVER BE A RECOVERY FROM WHAT THEY DID TO US.

GLOBALIZATION MEANS WE, AND OUR CHILDREN, ARE GOING TO BE NO BETTER OFF THAN THE LOWEST COMMON DENOMINATOR OF THE ENTIRE FUCKING WORLD, WHO WILL BE PAID TO COME HERE AND REPLACE US.

[Anonymous No.13969289]

>>13968990
Colleges are subsidized by government backed student loans. With guaranteed government backed student loan (GBSL) money pouring in, colleges have no incentive to innovate, and every incentive to increase largess and raise tuition every year.
Private Colleges rarely grow enrollment. They prefer to raise tuition and become more selective with regards to who they accept, when faced with a greater demand from prospective students. This is like McDonalds only having one restaurant and charging every customer 10k per burger and only allowing 20 people inside at a time.
The education industry needs to grow, innovate, compete fairly in a free and open market, and experience massive disruption to make it more affordable. The GBSL money, along with all the regulations attached to that money, prevent any change from happening.

[Anonymous No.13969313]

We get the last laugh because we won't be paying for their pensions. They will get beaten by Jamal in their nursing homes whilst we laugh at them with crypto gains

[Anonymous No.13969356]

>>13969289
>The education industry needs to grow, innovate, compete fairly in a free and open market, and experience massive disruption to make it more affordable. The GBSL money, along with all the regulations attached to that money, prevent any change from happening.

you spoke what i had already thought before that, but you just blew my mind. i figured we should just not allow student loans to be non-defaultable, but maybe we need some kind of system to encourage educational innovation.

fuck man thanks for that. changed my view.

[Anonymous No.13969415]

Lol my Boomer parents are both college professors at a private university.

One makes a comfy six figure salary off of being a modern dance teacher. She gets paid to have college kids roll around on the floor or do lesbian shit or whatever.

As a consequence I grew up in a stupid bubble, but holy shot I am set to inherent sooooo much in my 30s.

[Anonymous No.13969427]

>>13969313
Kek this fuck boomers >>13968547

[Anonymous No.13969529]

>>13969415
>holy shot I am set to inherent sooooo much in my 30s.
>Boomer parents

You are set to inherit an infuriating surprise in your 30s

[Anonymous No.13969599]

I can attest to that. My net worth is 41k. I'm 36. By all rights I should have least double that amount by now. The only saving grace is that I was smart enough not to fall into the college debt trap. My only debt is my house. I've got a cushy state job. My pension will be there for life. Also got a 401k. My pension will be there for me cause there is nothing they (state) can do to dump it. To many regs involved with it, to many lawsuits would be filed if they tried. The only way and I do mean only way is if the state went bankrupt. Which won't happen, to much other shit would be affected.

[Anonymous No.13969633]

>>13968136
(((Keysian)))
Vampire squids
Treasury blessed rent seeking

[Anonymous No.13969640]

>>13969356
Misses.org is a great resource on economic matters.
>but maybe we need some kind of system to encourage educational innovation.
There's innovation happening online. You can learn how to do almost anything online. But to become certified, traditional (and expensive) schooling is usually required. Traditional schools have little incentive to cut costs because of the government money and regulation.

My solution is to separate testing from education. Tests are administered by private testing companies, and a person can take tests as many times as they want (they will be different every time, unless it's blue collar skills) provided they pay a fee each time.

It is up to the individual to learn the material on their own with a method of their own choosing. This is where the free market can step in and offer innovative solutions. A student may choose to learn the material online, from a book, a study group, tutor, or a traditional classroom.

For more complicated subjects, the tests will have to be more complicated and expensive. This all depends on the subject matter.

[Anonymous No.13969643]

>>13969599
>State employee
>Can't use "too" correctly
Checks out, not a larp

[Anonymous No.13969678]

>>13968547
haha how come i never see these pep talks about personal responsibility and contributing to society aimed at CEOs? fuckstick

[Anonymous No.13969912]

>>13969229
The debt is the exact same, it's just socialized and instead of being private debt it's public and if you don't pay it to the bank directly you will pay it in taxes during your lifetime.

Also
>Denmark
Why not take Luxemburg while you're at picking countries three times less revelant than fucking Belgium kek?
At the exception of Germany literally all of the top 5 most populated countries european have a public debt >85%.

Boomers in the west are absolutely all the same, euroboomers have been massively americanized since their birth anyway, they have the exact same "Damn the consequences!" philosophy.

[Anonymous No.13969916]

30 yo boomer with ~200k between equities, cash, and crypto - I’d trade it all for hart celler to get revoked and 50s demographics brought back

HOMELANDS NOT HANDOUTS

TRAITORS FIRST

[Anonymous No.13969949]

>mfw

[Anonymous No.13970073]

1. More people in the service workforce (women, immigrants, illegal aliens) keeps a check on wages.
2. Increase in college costs and debt, stagnant wages when going into the workforce.
3. Taxes don't go down. Not even after Trump's 'tax cut' (they'll get it one way or another lol)
4. Welfare creep (why should I work 40 hours when welfare practically pays me the same?)
5. More focus on 'social' things than 'business' things (hiring of someone based on color/sex/etc rather than work ethic) has lowered workplace quality
6. NAFTA/GATT/WTO.etc ...have shipped labor overseas, marginalizing the lowest work element
7. Computerization and automation

Feel free to add to my list of why the West is sinking (and in my opinion, going to settle into 2nd world status in 2 decades or less). I don't see much hope actually.

[Anonymous No.13970570]

>>13968255
jews have an absolute vice grip over the boomer mind. Boomers do not have their own thoughts they are slaves to the jew. Jews taught boomers to hate their own children

[Anonymous No.13970594]

>>13969250
*boomers and jews

[Anonymous No.13970679]

>>13967774
>what matters to consumers today isn’t much different than it was 50 years ago

There weren't any social media back then. Now it's even more costly to fit in because trends change so quickly.

[Anonymous No.13970692]

And? As long as the job creators get what they deserve it's all good. Poor people really need to stay poor to understand why they must work.

[Anonymous No.13970707]

>>13968754
This is it

Im all for shitting on fucking teenagers aswell but the fact is they were in no position to realise what they getting themselves into

[Anonymous No.13970800]

<$8000

I'm 23, Mexican, and I have 20K saved up. Fucking Burgers, you don't change. You will always be a meme.

[BSV will win No.13970856]

>>13969949
what annoys me most about politicians wanting more immigrants is that they know they will never get them as neighbours themselves

[Anonymous No.13971140]

Most Boomer hippies were just spoiled elitist scions biting the hand that fed them their whole lives. Isn't it fascinating how all those Marxist Buddhists instantly morphed into the Me Generation the MOMENT the draft ended? Then they turned into yuppies and inflicted the Reagan Revolution on us, which explains why "the left" nowadays has more to do with sexual liberation (and it's resultant consequences). than ensuring people don't starve to death on the street. The original hippies are now the elderly bigots whose imminent death from age will supposedly usher in an egalitarian socialist utopia because the following generations are so much more radically leftist. The sad thing is that might even be true, because it's clear at this point that the hippies were never about anything more than getting high, getting laid and NOT getting shot. That's why they blamed all of their failings on their parents until they could shift all the blame to their kids. Personal Responsibility, right?

[Anonymous No.13971351]

I could care less about the "trends" at the moment. So what if my neighbors drive bmw's? Why should I go out and buy one just to fit in? My car gets me where I need to be so it's all good. I laugh at fucks who buy expensive cars but only drive them maybe during the work week. Those cars spend most of the day inside a garage. You've blown how many thousands of dollars on something that you don't even use that much. On top of the insurance/maintenance costs. Fools.

[Anonymous No.13971365]

>>13969415
>Boomer parents
>Giving anything

[Anonymous No.13971403]

Colleges and Universities are non-taxable businesses under the guise of "education". American government and colleges are giving handies to each other and everyone else that is politically affiliated. This is all on your dime of course since taxes, federal and state, are appropriated to them.

It's more fucked than everyone realizes.

https://www.youtube.com/watch?v=tXgCG50YoWs

[Anonymous No.13971518]

>>13968463
Yea he is. Basically, we need to get people to spend money so that's slowly light their money's buying power of fire so they don't horde it. Spend, spend, spend! Even if it's shit you don't need or the quality of the products aren't worth your dollars because your dollars are burning a hole in your pocket right now! That's basically our economy in a nutshell and if you know anything else about economics, you can see why it's an insane premise in the long run no matter what a bunch of central bank shills and academic cultists try to justify.

[Anonymous No.13971590]

>>13969177
And ever increasing automation. Plant I work at is automating EVERYTHING. Millions of dollars sent on it. I buy raw mats that vary a lot so I'm ok for now but most jobs are headed toward automation.

[Anonymous No.13971617]

>>13969229
I'd rather keep more of my money to get away from brown people. Europe takes your money and then imports 80 IQ refugees into your neighborhood.

[Anonymous No.13972007]

>>13968014
Outsourcing and automation in one graph.

[Anonymous No.13972117]

>>13969250
>survival of the fittest

Thrive or die anon

[Anonymous No.13972156]

>>13967774

imagine unironically quoting the washington post.

Pay your loans zoomer or we are tearing down the ozone layer.

[Anonymous No.13972179]

>>13972117
Your arrogance will be your undoing vile Jew scum. We are waking up and we are going to come for you.

[Anonymous No.13972232]

>>13972179
>low IQ people threatening to come after me
So you're niggers?

[Anonymous No.13972250]

how much did 2008 actually fuck us?

also how did they get away with making everyone pay for their bail out? do people lack the understanding of inflation?

[Anonymous No.13972266]

>>13972232
No we’re conquerers

[Anonymous No.13972286]

>>13971351
i dont understand cars, there's so fucking many of them but they spend 99% of their life sitting there doing nothing

i bet there are hammers out there that get used way more then some fucking cars

[Anonymous No.13972298]

>>13972179
>hasn't used the free unlimited information on the internet that he has had access to since probably age 10 to better his lot in life.


Stay poor comrade. We need wagie debt slaves like you

[Anonymous No.13972314]

>>13968547
Lol, I’m not a leftist but you have to see the pressure put on teenagers to go to college or else they’ll be useless, jobless, leaches of society...so parents also are scarred of that for their children so everyone takes the “gamble” on loans for education pushed by the banks and school system. The banks are genius to tying children into debt before they even understand the repercussions of it. Once people are “educated” into how money works no one in their right mind would win agains the banks. The kids are doomed from the start. He only reason my brother and I got out of it because we’re autistic fags who love to paint and cool...so my bro became a chef and I became a commercial artist...no school for either of those so we walked away with no debt. Got lucky. But all of our friends parent would let their kids hang out with theirs because we weren’t going to college.

[Anonymous No.13972367]

>>13972266
>conquerers
Well, what's stopping you faggot?

[Anonymous No.13972387]

>>13972286
This is why cars need to become a service for most people.