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Millennials and Gen Z Increasingly Pessimistic About Their Lives, Survey Finds

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Re: Millennials and Gen Z Increasingly Pessimistic About Their Lives, Survey Finds

#111
post #7

I'm surprised that half of people would believe businesses are making a positive impact on the world.

Unless you live in North Korea (and perhaps even there), everything that your life depends on is brought by businesses.

This fails to address parent's view, and is untrue for plenty of people besides. It is not uncommon for humans to use something that turns out suboptimal in the long term.

Re: Millennials and Gen Z Increasingly Pessimistic About Their Lives, Survey Finds

#112

My wife and I are not having kids. If you could sum it up into one short explanation as to why: My wife and I don't believe that the future is going to be a better place. Chief among the reasons are wealth inequality and buying power. If I can barely afford to buy a house now with a great job, I shudder to think what my kids would be faced with.

Do you feel your buying power is less than that of your parents? Other than real-estate in a popular city, has your buying power really gone down?

Also would you rather live in a society where:

A) GDP (or general productivity and availability of goods) increases by 3%. However this society has wealth inequality

B) GDP stays approximately flat or increases by only 0.1% / year but the society has perfect wealth equality.

Re: Millennials and Gen Z Increasingly Pessimistic About Their Lives, Survey Finds

#113
post #71

"Climate change, protecting the environment and natural disasters topped the list of most respondents on a personal level, but less than three in ten of both the Millennial and Gen Z cohorts cited it as a worry." This is surprising. As a Gen Z-er this highlights the kind of bubble I find myself in- my friend group is almost universally in a state of despair about the collapsing biosphere. Climate change and mass exti…

Climate change and mass extinction are the chief reasons I am pessimistic about my life. Can you name another time in recent history where the end of the world wasn't near? WW1, Great Depression, WW2, Mutually Assured Destruction, Swine flu, AIDS, Cuban missile crisis, etc, etc. The correct answer is it's always been this way and what we're going through right now isn't really all that new.

I don’t think it is fair to compare climate change to those previous issues and conflicts you mentioned.

The fact that our society is dependent on destroying the environment and all of the related politics is a much more difficult set problems to solve than a overblown disease scare, war, or geopolitical struggle.

Re: Millennials and Gen Z Increasingly Pessimistic About Their Lives, Survey Finds

#115

Earlier quoted context omitted.

I hear this complaint a lot, but never really any details. What specifically are you mad about being out of reach and which metrics do you think you're worse off on compared to previous generations? Honest question. Is it just materials and money per person? Something more?

Here's the late boomer side, which seems to be typical for my generation: my parents were average working class but had zero trouble affording a nice-enough-but-not-special home on a single salary earned by my father, with a little extra contributed by my mother. [1] I went to university on a full grant that covered living expenses and fees - which were much smaller than they are now, so if I'd been in a position to…

This is a really well laid out comment, thanks for just spelling it out.

Re: Millennials and Gen Z Increasingly Pessimistic About Their Lives, Survey Finds

#116

A single mother working as a waitress at Denny's in the 1980's had more spending power than a college educated cubicle drone in 2019; Let's talk about how is social media's fault! Twice in the last 20 years - more than any other time in US history combined - The Presidential election went to the candidate that LOST the popular vote; These generations just lack a proper understanding of civics! The beatings will conti…

There have been 4 or 5 (one is a bit ambiguous) elections where the winner lost the popular vote. [0] So no, this isn't more than any other time in US history combined. But more importantly, who cares? They lost the popular vote in an election in which the popular vote didn't count for anything. If the popular vote had counted for something in these elections, you would have gotten a different result. The candidates would have campaigned differently, and people would have voted differently. Just look at the difference in turnout between swing-states and safely red or blue states [1]. We wouldn't see this disparity if the popular vote counted for something. Complaining that the winning candidate lost the popular vote is like complaining that the team that won the superbowl had a lower free throw shooting percentage.

[0] https://en.wikipedia.org/wiki/United_States_presidential_ele...

[1] https://ballotpedia.org/Voter_turnout_in_United_States_elect...

Re: Millennials and Gen Z Increasingly Pessimistic About Their Lives, Survey Finds

#117

Started chatting with a guy at the airport about work / careers. Within 5 minutes he started ripping on millennials and their work ethic. I am a millennial! Sucks to be saddled with debt after college, have lower paying jobs, and still be shit on by the older generations. And I have things relatively good.

I am also a millennial. The work ethic problem seems to actually exist (from my limited but numerous experiences, including my own), however I am convinced that it is due to learned helplessness. Just imagine hearing your entire life that the world is just about to end any minute now, the icebergs are melting, everything is polluted, everything is so very bad, financial depression, no jobs for you, etc etc. Seems lik…

Having seen boomers at work I think millennials are about par for the course. People in general are lazy and indolent, but I would say the latter is more true of old people who are set in their ways.

Re: Millennials and Gen Z Increasingly Pessimistic About Their Lives, Survey Finds

#118
post #71

"Climate change, protecting the environment and natural disasters topped the list of most respondents on a personal level, but less than three in ten of both the Millennial and Gen Z cohorts cited it as a worry." This is surprising. As a Gen Z-er this highlights the kind of bubble I find myself in- my friend group is almost universally in a state of despair about the collapsing biosphere. Climate change and mass exti…

Climate change and mass extinction are the chief reasons I am pessimistic about my life. Can you name another time in recent history where the end of the world wasn't near? WW1, Great Depression, WW2, Mutually Assured Destruction, Swine flu, AIDS, Cuban missile crisis, etc, etc. The correct answer is it's always been this way and what we're going through right now isn't really all that new.

As a millennial, at least one thing that is different is that we all grew up in that brief period when the world wasn't ending. We grew up in the 90s and early noughts, when ya, there were problems, but they all seemed containable. It seemed like the adults generally knew what they were doing, and could be counted on the to the right thing.

I'd also argue (with no real basis of course) that the type of dread that climate change and mass extinction invokes is possibly of a different kind than most of the crises that you listed.

Re: Millennials and Gen Z Increasingly Pessimistic About Their Lives, Survey Finds

#119
post #71

"Climate change, protecting the environment and natural disasters topped the list of most respondents on a personal level, but less than three in ten of both the Millennial and Gen Z cohorts cited it as a worry." This is surprising. As a Gen Z-er this highlights the kind of bubble I find myself in- my friend group is almost universally in a state of despair about the collapsing biosphere. Climate change and mass exti…

Climate change and mass extinction are the chief reasons I am pessimistic about my life. Can you name another time in recent history where the end of the world wasn't near? WW1, Great Depression, WW2, Mutually Assured Destruction, Swine flu, AIDS, Cuban missile crisis, etc, etc. The correct answer is it's always been this way and what we're going through right now isn't really all that new.

[deleted]

Re: Millennials and Gen Z Increasingly Pessimistic About Their Lives, Survey Finds

#120

Earlier quoted context omitted.

For some simple examples, inflation-adjusted home prices have gone up by a factor of 6 and inflation-adjusted education prices have gone up by a factor of 3 over the past few generations [1], while inflation-adjusted average wages have only gone up by $2/hour [2]. That single mom would have had a dramatically easier time providing housing and education for kids even with lower purchasing power for most consumer goods…

You're not accounting for the higher interest rates of the 1980s. Which home would you prefer to buy: $150,000 at 15% over 30 years. $350,000 at 4% over 30 years. Hint : they both have approximately the same total loan cost and payment. You can do this calculation with your parents. My home cost $350k at 3.8%. My parents bought my childhood home for $88k at 8%. Adjust my parents' home price for inflation and run the…

Down payments are the monkey wrench here. The requirement to have a down payment means high prices basically lock people out of homeownership, period. That in turn limits ability to build wealth at all, even at a crappy interest rate.
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