Fed Says Millennials Are Just Like Their Parents, Only Poorer • Hacker News Board

Re: Fed Says Millennials Are Just Like Their Parents, Only Poorer

#281

Post by brokenmachine » Sun, Dec 02, 2018, 11:13 PM UTC

malvosenior wrote: post #274

brokenmachine wrote: post #262

Earlier quoted context omitted.

It's not very enticing to start a family when you're renting and have no stability though. When it seems like owning a home is completely unachievable, there's no point in saving so you might as well have those experiences. Also I'd separate travel from those other things. Witnessing other cultures through travel is a very valuable experience IMO. Community? What's that?

That’s sort of my point. If you can’t afford those things are you really living a life of “incredible luxury”. As for travel, it depends. I have a lot of friends doing “Instagram travel”. Literally deciding where to go based on where they can snap the best shot. There are also a lot of people doing very touristy things that don’t provide any sort of insight or deep meaning.

>As for travel, it depends. I have a lot of friends doing “Instagram travel”. Literally deciding where to go based on where they can snap the best shot. There are also a lot of people doing very touristy things that don’t provide any sort of insight or deep meaning.

Even traveling like that, they might accidentally pick up some culture by osmosis on the way to their next selfie-spot...

Re: Fed Says Millennials Are Just Like Their Parents, Only Poorer

#282

Post by curo » Thu, Dec 06, 2018, 7:32 PM UTC

rainonmoon wrote: post #236

curo wrote: post #207

Earlier quoted context omitted.

The world runs in cycles. You start to see various shifts when you zoom out historically. Conservative / liberal oscillations for instance: The Age of Enlightenment prized composure and disparaged human emotion. The Romantics countered, to hell with composure! As William Blake wrote, "those who restrain desire do so because there's is weak enough to restrain." A life of love needed no guiding hand. Lord Byron wrote,…

I'm curious about those surveys, if you feel you could present them in a way that won't upset people with you. As a Millennial who teaches Gen Zers, observing the micro-generational differences and comparing them to reported trends (and trying to figure out what is simply a difference of age) is always interesting to me.

The Wikipedia article on Gen Z has some interesting info: https://en.wikipedia.org/wiki/Generation_Z#Characteristics

One big trend is a massive shift towards saving and financial responsibility, more risk-averse, less willing to take on debt. Far less substance abuse (2013, 66% of teenagers (older members of Generation Z) had tried alcohol, down from 82% in 1991). 40% drop in teen pregnancy, a 38% drop in drug and alcohol abuse, and a 28% drop in dropout rates.

Re: church attendance, 41% among Generation Z, compared to 18 percent for Millennials at the same ages, 21 percent of Generation X, and 26 percent of Baby Boomers

Whereas Millennials were largely just magnifications of earlier trends in Gen X and Baby Boomers, Gen Z seems to be a rebuttal. It's too complex to make bets, but if I had to make a bet, I imagine 2-3 generations of risk aversion / conservative values before those become overbearing and we have another counter-conservative shift.

Re: Fed Says Millennials Are Just Like Their Parents, Only Poorer

#283

Post by curo » Thu, Dec 06, 2018, 7:35 PM UTC

claudiawerner wrote: post #246

curo wrote: post #207

Earlier quoted context omitted.

The world runs in cycles. You start to see various shifts when you zoom out historically. Conservative / liberal oscillations for instance: The Age of Enlightenment prized composure and disparaged human emotion. The Romantics countered, to hell with composure! As William Blake wrote, "those who restrain desire do so because there's is weak enough to restrain." A life of love needed no guiding hand. Lord Byron wrote,…

Although I don't quite agree with the content of your analysis, the fact of this kind of analysis itself is wonderfully Hegelian.

I wish I knew more Hegel, but I feel like the synthesis model feels more calculated, whereas cycles seem reactionary (like economic cycles), albeit maybe with a positive trend.

Also feel free to share your disagreements. I love history but I'm certainly not an expert in cultural movements.

Re: Fed Says Millennials Are Just Like Their Parents, Only Poorer

#284

Post by nkg » Fri, Dec 07, 2018, 9:29 PM UTC

asdff wrote: post #252

nkg wrote: post #60

But isn't the fact that they are just like their parents exactly the problem ? The GDP of the United States has more than doubled since the 80's, so how is it that millenials are as "poor" as their parents ?

People aren't paid according to the GDP of the United States.

The GDP was just an indicator to highlight the fact that the country got richer, but the relative wealth of the people did not grow at the same pace.