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Millennials accuse Baby Boomers of ruining the economy

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Re: Millennials accuse Baby Boomers of ruining the economy

#41

Post by ianbutler »

Zenst wrote: post #36

The whole premise of a younger generation being a upset at a prior older generation for political, fiscal etc etc reasons - has and always will be it seems, a theme that will just keep on running for century's more. Thing is, in 30 years time, the current young adults will be saying near on verbatim the same things about the current generation that will now be in the age demographic they currently lambaste. Equally t…

In real wealth terms, Boomers have captured 53% of all current wealth. At the same point in time as Millenials are now they had 21%, Millenials currently have something like 4%. I'm not sure your point is correct or even useful, when in real monetary terms there is a clear difference.

Re: Millennials accuse Baby Boomers of ruining the economy

#42

Post by sharemywin »

mensetmanusman wrote: post #3

Rent seeking ruins economies. We see a lot of rent seeking by the current power structure (where boomers have accumulated >80% of the wealth). 1+1=2

some rent seeking is useful. I don't want to buy my hotel room on vacation.

too much environmental exploitation with out some kind of mitigation and regulation is a problem as well.

but at the heart of it all is:

1. statistics and expert opinions should count for more than uneducated opinions

2. but experts(and agents think politicians ) can be corrupted.

3. most people are swayed by narratives and not statistics.

4. but, individual points of view and outliers are important as well because they provide new protectives and directions of inquiry.

Re: Millennials accuse Baby Boomers of ruining the economy

#43

Post by MattPalmer1086 »

drdec wrote: post #25
shortstuffsushi wrote: post #11

I am very confused, how does the "Young People and Porn" section of this article in any way relate to the rest? Is this section actually another, unrelated article that snuck into the bottom?

There's also the definition of baby boomers as those aged 51-69, which would correspond to those born in 1951-1970, off by five years or so from the usual definition.

Right. Always thought I was Gen X, now I'm a Boomer apparently!

Ah well, we're used to being ignored ;)

Re: Millennials accuse Baby Boomers of ruining the economy

#44

Post by wombatpm »

Zenst wrote: post #39
rovek wrote: post #13

This article seems to present a strange collection of information. "Young people and porn" as a heading really came from nowhere.

Yes that did strike me as a bit of a curve-ball given the direction the article was slanting. Maybe the reader is left to conclude that if older people watched more porn - the economy, politics...would be better! Obviously not as that would be silly, and yet I would not be supprised if I read an article with that whole perspective as a follow-up.

Boomer had the Summer of Love, the Pill, abortion and working antibiotics for social diseases. Then after the decadent 70's they brought us HIV/AIDS. So in addition to everything else, boomers ruined casual sex. Millenials are left with porn. Granted there is lots of it - but its still just porn.

Re: Millennials accuse Baby Boomers of ruining the economy

#45

Post by stnmtn »

refurb wrote: post #33
scottLobster wrote: post #21

Earlier quoted context omitted.

Bigger, sure. But the oldest US millennials are turning 40 now, and own around 5% of the wealth. Likewise when the US Boomers were the age millennials are now they owned about %20 of the wealth collectively.

But the boomers were a much bigger percent of the population than millennials are today, so of course they’d own more?

Do you think these percentages line up?

What about the relative cost of a semester of college in 1970-80 vs today? Or the relative cost of housing?

Re: Millennials accuse Baby Boomers of ruining the economy

#46

Post by taylodl »

MattPalmer1086 wrote: post #43
drdec wrote: post #25

Earlier quoted context omitted.

There's also the definition of baby boomers as those aged 51-69, which would correspond to those born in 1951-1970, off by five years or so from the usual definition.

Right. Always thought I was Gen X, now I'm a Boomer apparently! Ah well, we're used to being ignored ;)

Right? Being an old X'er myself I can tell you there's a palpable divide between those two years older than me (the Boomers) and us X'ers. Our school administrators constantly reminded us of that difference when they were lamenting just how different our class was. Now we know it wasn't just our class, it was our generation. On the other hand our kids, the Zoomers, are kicking ass!

Re: Millennials accuse Baby Boomers of ruining the economy

#47

Post by burntoutfire »

candiddevmike wrote: post #31
scottLobster wrote: post #21

Earlier quoted context omitted.

Bigger, sure. But the oldest US millennials are turning 40 now, and own around 5% of the wealth. Likewise when the US Boomers were the age millennials are now they owned about %20 of the wealth collectively.

I wonder if the oversized tech millionaire/billionaire millennials inflate the amount of wealth the majority millennials actually hold. Judging by the number of millennials I know anecdotally living with their parents, I don't think most millennials own a lot of assets.

The same phenomenon is probably much more pronounced among the boomers.

Re: Millennials accuse Baby Boomers of ruining the economy

#49

Post by simonblack »

Different generations have always complained about one another. It might be entertaining, it might be excusing, but it's all a waste of time and angst.

Every generation makes the same mistakes. Every generation complains that that their children misbehave.

It actually gets amusing to hear your kids complaining that their kids are doing exactly the same sorts of things that you complained about your kids doing.

Re: Millennials accuse Baby Boomers of ruining the economy

#50

Post by simonblack »

imtringued wrote: post #34

If there is a generational shift then it wasn't because they made things worse, rather they got to live life in easy mode. Post war economies experience a lot of growth and labor is actually valued since there is plenty of work to be done. Low skill labor had plenty of value. Nowadays, especially since the 80s mania of labor deregulation, globalization, tax cuts, austerity and other small government policies low skil…

rather they got to live life in easy mode

Not quite. Every generation has things that are advantageous, every generation has things that are terrible.

Interest rates for the boomers got as high as 20%. They couldn't afford to borrow for a house, even if their wages were good. Millennials have lower wages (relatively speaking), but interest rates won't kill them if they can save enough for a house deposit.

Two different generations: two different problems causing the same outcomes.

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