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Millennials Are Screwed
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Rockydonovang
freedom fighter

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Millennials Are Screwed

Old Post Dec 18th, 2017 01:43 AM
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Raisen
Thor is gay

Gender: Male
Location: Fresno, CA United States

there's a lot of sense in that article. it's pretty shiity he had to throw race in there almost immediately but oh well. this is the way shiit is now.

almost everyone i know does work two jobs or so. i'm an older millenial myself. it's hard to think that once upon a time the guy who delivered milk to people's doors could afford a house next door to them.

in the article....tyrone really shouldn't have been knocking chicks up if he was essentially homeless...that is stupid.


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QUANCHI112:In between the passes Khan will tear out the orca teeth and use them as an offensive weapon. Khan has crushed a skull before so tearing a tooth off a whale should be no issue.

Old Post Dec 18th, 2017 02:00 AM
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BackFire
Blood. It's nature's lube

Gender: Male
Location: Huntington Beach, CA

Moderator

The layout of that article gave me aids.


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Old Post Dec 18th, 2017 02:18 AM
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Raisen
Thor is gay

Gender: Male
Location: Fresno, CA United States

quote: (post)
Originally posted by BackFire
The layout of that article gave me aids.


it was phucking difficult


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QUANCHI112:In between the passes Khan will tear out the orca teeth and use them as an offensive weapon. Khan has crushed a skull before so tearing a tooth off a whale should be no issue.

Old Post Dec 18th, 2017 02:22 AM
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Flyattractor
Senior Member

Gender: Unspecified
Location: B.F.K

I am sure Messiah Obama will solve all these problems when he gets his 3rd Term.


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Banned 30 days for the Crime of "ETC"... and when I "ETC" I do it HARD!!!
Happy Dance Happy Dance Happy Dance Happy Dance

Old Post Dec 18th, 2017 03:29 AM
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Kurk
Gone, But Never Forgotten

Gender: Male
Location: The Darkest Corner of your Mind

As Squidward always said: https://www.youtube.com/watch?v=2eXU2p982GQ

and this

https://www.youtube.com/watch?v=B3alOx1z0hE


As a young millennial myself, this article really triggered my anxiety for the first time in a long time. I hate being reminded of the direness of this generation's situation.

College is a scam. The PBS documentary Declining by Degrees goes into how college has transformed into the ultimate corporate sham.

Worst of all, I've realized this but I have no choice but to take out loans and attend due to tiger parents. Either I take out massive debt or become disowned by my parents and end up homeless. My only motivation in school right now is to avoid the latter. In the end I'm going to end up with a worthless degree with my only option being dental school which would add $350,000 in debt. Account for interest and it's closer to 400k+. I'd be in debt until I'm middle-aged.

Plenty of things are contributing to this situation, but the college sham is definitely the biggest one in my mind. Plenty of trades can pay good salaries for minimal debt.

The American dream has been dead for a while now.


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"Who deserves what is irrelevant. What matters is who has power." - Thrawn

Old Post Dec 18th, 2017 04:02 AM
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Flyattractor
Senior Member

Gender: Unspecified
Location: B.F.K



Poor widdle Millys.


__________________
Banned 30 days for the Crime of "ETC"... and when I "ETC" I do it HARD!!!
Happy Dance Happy Dance Happy Dance Happy Dance

Old Post Dec 18th, 2017 04:20 AM
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Surtur
Astral Shaman

Gender: Male
Location: Chicago

The site makes your eyes bleed.


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Old Post Dec 18th, 2017 02:14 PM
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Surtur
Astral Shaman

Gender: Male
Location: Chicago



Yeah, they are screwed.


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"I know it's gonna work because it's impossible"-George Lucas

Old Post Dec 18th, 2017 04:02 PM
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Nibedicus
Gaming addict

Gender: Male
Location: Philippines

Question: If school is so expensive in the US, why not study abroad?

My wife got her PT license here and still pulls about 60-70k a year (before she had to stop working to spend more time with the baby) in the US with zero debt (since a decent med school here back then was around maybe 1-2k USD a year and the standard of living here is no more than maybe 150-250USD a month and yes, you can live on that, food, rent and even go out once in a while). I know the schools there are better, but 50k-100k (even 200-400k) in debt better? I dunno.

Old Post Dec 18th, 2017 05:02 PM
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Flyattractor
Senior Member

Gender: Unspecified
Location: B.F.K

The only reason U.S Schoos are so "Expensive" is because of the Corruption spread by the Leftist Teachers Unions. That and Schools are run by Socialists so of course they want all of your money....because Socialism.


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Banned 30 days for the Crime of "ETC"... and when I "ETC" I do it HARD!!!
Happy Dance Happy Dance Happy Dance Happy Dance

Old Post Dec 18th, 2017 07:45 PM
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DarthSkywalker0
Heir to the Throne

Gender: Male
Location: United States

Kbro, you still amaze me. Your ability to annoy me surpasses anyone I have ever met. I do not understand how you can persist despite the inevitable debunk, which always arises after you spew economic fallacies or slanderous exposés. So let's dive into your most recent endeavor. I think before I begin it is worth noting the absolutely horrendous formatting which made this article extraordinarily laborious and taxing to read.

quote:
I am 35 years old—the oldest millennial, the first millennial—and for a decade now, I’ve been waiting for adulthood to kick in. My rent consumes nearly half my income, I haven’t had a steady job since Pluto was a planet and my savings are dwindling faster than the ice caps the baby boomers melted.


Hobbes demonstrates his credibility by giving us a glimpse into his wild successes.

quote:
Contrary to the cliché, the vast majority of millennials did not go to college, do not work as baristas and cannot lean on their parents for help. Every stereotype of our generation applies only to the tiniest, richest, whitest sliver of young people. And the circumstances we live in are more dire than most people realize.


What this article does not mention is that more millennials graduated college than any other generation. I, unfortunately, could not find attendance ratings, but Jeff Selingo has an article where he discusses the inordinately high drop-out rates for millennials. The leads to me to believe that the majority of millennials did go to college. The next claim about baristas is true, but for different reasons than Hobbes would portend. The Federal Bank of New York City did a study on millennials in low-paying jobs and found some interesting results.

quote:
About 59 percent[of millennials] work in college jobs by the time they reach 26 or 27, compared with 48.4 percent of college-educated 22- and 23-year olds.


That being said, millennials underperform previous generations. Hobbes shows some statistics to illustrate this point. I will do my best to add context to these numbers. The first stat cited is that millennials have 300% more debt than their parents. I think one of the main reasons for this is the sheer amount millennials attending college, despite not being able to afford it. As I already showed, more millennials have attended college than any previous generation. This can be seen when we cross compare GenZ with millennials. There was a study conducted by NitroCollege comparing GenZ to their millennial counterparts. I will report some of their findings.

quote:
In our survey, we found that 65.7 percent of them are planning to attend an in-state school to save on the cost of tuition. With the average tuition cost for an out-of-state school more than double that of an in-state school at $24,930 per year, students are aware that taking on more student loan debt can set them back financially after graduation.

Of those students who plan to attend an in-state school, 19 percent plan to live at home and commute. Although room and board can be covered through scholarships and financial aid, it still comes with a hefty price tag. According to College Board, the average cost of room and board is $10,440 for four-year public schools—more than the average cost of in-state tuition at $9,650.

Why is it that Generation Z is more financially cautious? Dr. Tatum Soo Kim, Associate Dean to Student Affairs at Columbia University affirmed, “Generation Z is financially cautious because they care deeply about how their money is spent.” She goes on to say, “Undeniably, Generation Z will expect value for their investment.”

We asked students how they plan to pay for college and found that 82 percent of students plan to use scholarships to supplement the cost of college.


This is in stark contrast to Millenials whose polling results indicate a disinterested lack of care in regards to paying off their debt.

quote:
45% of survey respondents didn’t know what percentage of their salary went to paying off their loans.

• 37% were unaware of the interest rate on their loan.

• A very oblivious 15% were even unaware of how much they owe.


• 44% claimed not to fully understand the difference between federal and private loans.


Millenials also don't seem willing to give up anything to pay off their debts.

quote:
When asked what they’d consider giving up in order to pay down their debt, less than half were willing to do without concert tickets, lattes, food delivery, alcohol purchases or travel.


So, I wonder why Millennials have such enormous debt? The second stat cited in the article is related to few millennials who actually have a house in contrast to previous generations. This is a slanted statistic as fewer people own homes across all age groups. To quote the Washington Post,

quote:
Across all age groups, the U.S. homeownership rate — at 62.9 percent — has now fallen to its lowest level in more than five decades. Among younger Americans only, things look especially paltry.


That being said, the reason that millennial homeownership rates are so low is because they are poor. There was a study conducted by American Enterprise Institute (AEI) and the Institute for Family Studies (IFS) that analyzed the reasons that millennials are poor and homeless. This ties into the next stat stated as well. According to the study, the main reasons as to why Millenials are poor is due to the number of children they birth out of Wedlock.

quote:
Specifically, 86 percent of young people who got married before having kids are among the middle or top third of earners. Just 53 percent who put childbearing first have incomes in the middle or top third, meaning 47 percent of millennials who have a baby first are considered lower income.

Even millennials from low-income families are more likely to flourish if they married before having children: 71 percent who married before having children made it into the middle or higher end of the income distribution by the time they are age 28 to 34," the AEI and IFS report.

By comparison, only 41 percent of millennials from lower-income families who had children first made it into the middle or higher end of the distribution when they reached ages 28 to 34.


There are three steps that millennials have to follow if they do not want to be poor. 1) Earn at least a high school diploma, 2) get a full-time job, and 3) marry before having kids. Only 3% of millennials are poor in their 20s and 30s if they follow these steps. 53% of millennials that didn't follow these steps are in poverty.

quote:
From job security to the social safety net, all the structures that insulate us from ruin are eroding. And the opportunities leading to a middle-class life—the ones that boomers lucked into—are being lifted out of our reach. Add it all up and it’s no surprise that we’re the first generation in modern history to end up poorer than our parents.


I think the first thing to note is that the safety net is NOT eroding. There was a study conducted by the Cato Institute that analyzed the amount of money one can achieve on the welfare rules per state. As of 2013, Welfare pays more than a minimum-wage job in 35 states, even after accounting for the Earned Income Tax Credit, and in 13 states it pays more than $15 per hour. These benefits are consistently increasing which of course explains the greater number of enrollees. In 11 states, welfare pays more than the average pre-tax first-year wage for a teacher. In 39 states it pays more than the starting wage for a secretary. And, in the 3 most generous states a person on welfare can take home more money than an entry-level computer programmer. These numbers are astounding and certainly, do not indicate a degrading safety net. I wonder why millennials cannot achieve a middle-class life? Maybe, it is because they are not following the 3 steps to success. To quote the AEI study,

quote:
While 55 percent of 28- to 34-year-old millennial parents had their first child before marriage, the vast majority of millennials who married before having any children are now steering clear of poverty and appear to be headed toward realizing the American dream. Additionally, 95 percent of millennials who married first are not poor, compared to 72 percent who had children first.


The article now tells us the story of Scott.

quote:
After six months of applying and interviewing and never hearing back, Scott returned to his high school job at The Old Spaghetti Factory. After that he bounced around—selling suits at a Nordstrom outlet, cleaning carpets, waiting tables—until he learned that city bus drivers earn $22 an hour and get full benefits. He’s been doing that for a year now. It’s the most money he’s ever made. He still lives at home, chipping in a few hundred bucks every month to help his mom pay the rent.

In theory, Scott could apply for banking jobs again. But his degree is almost eight years old and he has no relevant experience. He sometimes considers getting a master’s, but that would mean walking away from his salary and benefits for two years and taking on another five digits of debt—just to snag an entry-level position, at the age of 30, that would pay less than he makes driving a bus. At his current job, he’ll be able to move out in six months. And pay off his student loans in 20 years.


This is a lovely anecdote, but it is not backed up by much evidence. To refer back to the study conducted by the New York Federal Reserve,

Cont. in next post.

Old Post Dec 18th, 2017 08:41 PM
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DarthSkywalker0
Heir to the Throne

Gender: Male
Location: United States

quote:
Only about 9 percent of all recent college graduates worked in a low-skill service job from 2009 through 2013, the four years following the recession.

And for 20-somethings who are worried about getting stuck in those jobs forever, the researchers had some additional good news: The percentage who are employed in service jobs drops by half by the time they reach their mid-20s, which suggests that they're transitioning to jobs better tailored to their skills.

Millennials are also shifting into better jobs. About 59 percent work in college jobs by the time they reach 26 or 27, compared with 48.4 percent of college-educated 22- and 23-year olds.

And underemployment doesn't necessarily mean minimum-wage work. About half of underemployed millennials hold relatively high-paying jobs, such as in information processing and business support, where the average wage is slightly more than $59,000, the researchers found. The largest share, about one-quarter, are in office and administrative support roles, where the average annual pay is $37,207 -- far more than a barista would take home.


So, the anecdote provided in the article is not congruent with the facts on this subject. This concludes part one of the debunk. I cannot believe how much time you force me to spend on debunking your shit.

Old Post Dec 18th, 2017 08:42 PM
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cdtm
@#$%

Gender: Unspecified
Location: United States

quote: (post)
Originally posted by Kurk
As Squidward always said: https://www.youtube.com/watch?v=2eXU2p982GQ

and this

https://www.youtube.com/watch?v=B3alOx1z0hE


As a young millennial myself, this article really triggered my anxiety for the first time in a long time. I hate being reminded of the direness of this generation's situation.

College is a scam. The PBS documentary Declining by Degrees goes into how college has transformed into the ultimate corporate sham.

Worst of all, I've realized this but I have no choice but to take out loans and attend due to tiger parents. Either I take out massive debt or become disowned by my parents and end up homeless. My only motivation in school right now is to avoid the latter. In the end I'm going to end up with a worthless degree with my only option being dental school which would add $350,000 in debt. Account for interest and it's closer to 400k+. I'd be in debt until I'm middle-aged.

Plenty of things are contributing to this situation, but the college sham is definitely the biggest one in my mind. Plenty of trades can pay good salaries for minimal debt.

The American dream has been dead for a while now.


The funny thing, is that scam you mentioned is also the breeding ground of liberal politics, and yet it's not even under the control of liberals.

How liberal could you be if you're an administrator making millions for themselves, as they break the back of tenure by filling the rooms with underpaid adjunct professors with no job security and more students then one person can manage..?


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Last edited by cdtm on Dec 18th, 2017 at 09:37 PM

Old Post Dec 18th, 2017 09:34 PM
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Emperordmb
LSDMB

Gender: Male
Location: The Proud Nation of Kekistan

Mention “millennial” to anyone over 40 and the word “entitlement” will come back at you within seconds
Golly gee, I wonder why?


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Shadilay my brothers and sisters. With any luck we will throw off the shackles of normie oppression. We have nothing to lose but our chains! Praise Kek!
THE MOTTO IS "IN KEK WE TRUST"

Old Post Dec 18th, 2017 10:09 PM
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Nibedicus
Gaming addict

Gender: Male
Location: Philippines

I do agree. I'm 41. Every time I hear "millennial" I do think "entitlement".

Old Post Dec 18th, 2017 10:13 PM
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dadudemon
Senior Member

Gender: Male
Location: Bacta Tank.

I am doing okay. I could be better. But I most certainly do not pay half my income towards housing.

None of his criticisms add up, to me.


Sure, I had student loans but nothing outrageous. They are almost gone.

My car is paid off.


I have debt, no doubt. But that is being paid off.


Perhaps he should stop complaining about his situation and actually work towards doing something about it. I was in school more than full time and working more than full time while married with 2 kids. I didn't think anything of it until I got done and then I started hearing about people being super upset about having so much school work to do and not enough time to get hang out with their friends (drinking, smoking, clubbing). WTF?

There's your problem, dumbasses.


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Old Post Dec 18th, 2017 10:40 PM
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Rockydonovang
freedom fighter

Gender: Male
Location:

quote:
Kbro, you still amaze me. Your ability to annoy me surpasses anyone I have ever met. I do not understand how you can persist despite the inevitable debunk, which always arises after you spew economic fallacies or slanderous exposés.

I haven't spewed or asserted anything. I've linked an article I read so that people can discuss, agree with, or disagree with said article.

If I don't post this article, you don't get to debunk it. And I stay as ignorant as I was previously. I'm not sure why you dislike people learning more or gaining new perspectives.
quote:
I think before I begin it is worth noting the absolutely horrendous formatting which made this article extraordinarily laborious and taxing to read.

Rolling the wheel on your mouse down was "extrodinary laborious?"

I'm not seeing the issue with graphic design that punctuates whatever point the article is making.

If you have legitimate gripes with the content of this article, go ahead, I'm not interested in your inability to appreciate creativity.

Old Post Dec 18th, 2017 10:57 PM
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Rockydonovang
freedom fighter

Gender: Male
Location:

quote: (post)
Originally posted by dadudemon
I am doing okay. I could be better. But I most certainly do not pay half my income towards housing.

None of his criticisms add up, to me.


Sure, I had student loans but nothing outrageous. They are almost gone.

My car is paid off.


I have debt, no doubt. But that is being paid off.


Perhaps he should stop complaining about his situation and actually work towards doing something about it. I was in school more than full time and working more than full time while married with 2 kids. I didn't think anything of it until I got done and then I started hearing about people being super upset about having so much school work to do and not enough time to get hang out with their friends (drinking, smoking, clubbing). WTF?

There's your problem, dumbasses.

Anecdotal evidence followed by a rather cocky assumption you understand the author's situation or what he is and isn't doing.

Your superiority complex is impressive. Your ability to support your claims? Not so much.

Old Post Dec 18th, 2017 11:00 PM
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Raisen
Thor is gay

Gender: Male
Location: Fresno, CA United States

real question tho. what are you a freedom fighter against man? you always posting victim stuff.


__________________
QUANCHI112:In between the passes Khan will tear out the orca teeth and use them as an offensive weapon. Khan has crushed a skull before so tearing a tooth off a whale should be no issue.

Old Post Dec 18th, 2017 11:06 PM
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