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24 Reasons Why Millennials Are Screaming Mad About Our Unfair Economy

by Michael Snyder, The Economic Collapse Blog:

Do you want to know why Millennials seem so angry? We promised them that if they worked hard, stayed out of trouble and got good grades that they would be able to achieve the “American Dream”. We told them not to worry about accumulating very high levels of student loan debt because there would be good jobs waiting for them at the end of the rainbow once they graduated. Well, it turns out that we lied to them. Nearly half of all Millennials are spending at least half of their paychecks to pay off debt, more than 30 percent of them are living with their parents because they can’t find decent jobs, and this year the homeownership rate for Millennials sunk to a brand new all-time low. When you break U.S. adults down by age, our long-term economic decline has hit the Millennials the hardest by far. And yet somehow we expect them to bear the burden of providing Medicare, Social Security and other social welfare benefits to the rest of us as we get older. No wonder there is so much anger and frustration among our young people. The following are 24 reasons why Millennials are screaming mad about our unfair economy…

#1 The current savings rate for Millennials is negative 2 percent.  Yes, you read that correctly.  Not only aren’t Millennials saving any money, they are actually spending a good bit more than they are earning every month.

#2 A survey conducted earlier this year found that 47 percent of all Millennials are using at least half of their paychecks to pay off debt.

#3 For U.S. households that are headed up by someone under the age of 40, average wealth is still about 30 percent below where it was back in 2007.

#4 In 2005, the homeownership rate for U.S. households headed up by someone under the age of 35 was approximately 43 percent.  Today, it is sitting at about 36 percent.

#5 One recent survey discovered that an astounding 31.1 percent of all U.S. adults in the 18 to 34-year-old age bracket are currently living with their parents.

#6 At this point, the top 0.1 percent of all Americans have about as much wealth as the bottom 90 percent of all Americans combined.  Needless to say, there aren’t very many Millennials in that top 0.1 percent.

#7 Since Barack Obama has been in the White House, close to 40 percent of all 27-year-olds have spent at least some time unemployed.

#8 Only about one out of every five 27-year-olds owns a home at this point, and an astounding 80 percent of all 27-year-olds are paying off debt.

#9 In 2013, the ratio of what men in the 18 to 29-year-old age bracket were earning compared to what the general population was earning reached an all-time low.

#10 Back in the year 2000, 80 percent of all men in their late twenties had a full-time job.  Today, only 65 percent do.

#11 In 2012, one study found that U.S. families that have a head of household that is under the age of 30 have a poverty rate of 37 percent.

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3 comments to 24 Reasons Why Millennials Are Screaming Mad About Our Unfair Economy

  • Anon

    Let’s face it, FELLOW AMERICANS, somewhere along the line – WE (and previous generations) DROPPED THE BALL! We took our eyes OFF THE BALL! What, or WHO, is the “ball”? The Western International Central Bankers. In 1836, President Andrew Jackson refused to renew the charter of the 2nd “Bank of the United States”, which we fought a 2nd war with England over, in 1812, when the first charter of the “Bank of the United States” wasn’t renewed in 1811 (which ran from 1791 to 1811). The 2nd “B.U.S.” ran from 1816 to 1836. The so-called “Federal” “Reserve” Bank is the 3rd iteration of the London-Rothschild-controlled “Bank of the United States”. We dropped the ball. END THE FED!

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    BE SURE to read ALL comments in the ‘comments’ section which follows each of the above articles, for many practical SOLUTIONS, that ANYONE may put to use, starting today, to become more self-reliant, and counter the predations of the predatory class (.001%)

  • lastmanstanding

    Let them figure it out…we had to…and still are.

  • glitter 1

    Yes,some Millennials are saddled with loads of debt,many are not.Scores of them will inherit billions worth of parent’s/grandparent’s real estate/bank accounts/trusts,which took 100 years of hard work/toil/sacrifice to establish.”Six one half dozen or the other.”

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