Current Events > Millenials killing industries cause they are poor

(+) Yeah! (+)

https://www.businessinsider.com.au/millennials-kill-industries-because-poor-fed-report-2018-11
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Who would have thunk it.

*puts everyone 5-6 figures in debt just to get a college degree that's required to get any job above minimum wage*

"wait why arent they spending any money? wtffffffffff fuckin millenials STOP KILLING THE ECONOMY also pay your student debts pls"
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Millennial spending habits have wreaked havoc on companies from golf-equipment makers to razor manufacturers.However, a new study from the Federal Reserve found that millennials are similar to earlier generations except for one factor: They have much less money than Gen Xers and baby boomers had when they were young.Millennials are less well off than members of earlier generations when they were young, with lower earnings, fewer assets, and less wealth, the study said, adding, Conditional on their age and other factors, millennials do not appear to have preferences for consumption that differ significantly from those of earlier generations.
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That's like saying "Humans to blame for shortening lifespans because they are dying of cancer".

my father was laid off from the factory during the recession. i had to get a job and help support the family, so i am well aware of how bad the recession was for millenials as well as everyone else.
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Literally a product of our time.
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Prestoff posted...

Literally a product of our time.

It's so true.

I remember one of my wife's workmates telling us how when he was our age he had is own house and it was all possible just because he worked hard. Never mind the fact that we live in mother-fucking Metro-Vancouver and both work our asses off just to rent a one room apartment.

Materus posted...

Who would have thunk it.

And these shithead boomers literally wasted money studying what they could easily observe if they just.. opened their fucking eyes.
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wheres that "boomers #1, no wage, only spend" pic

edit. found it
https://imgur.com/AA6leOo
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Dash_Harber posted...

Prestoff posted...

Literally a product of our time.

It's so true.

I remember one of my wife's workmates telling us how when he was our age he had is own house and it was all possible just because he worked hard. Never mind the fact that we live in mother-fucking Metro-Vancouver and both work our asses off just to rent a one room apartment.

I think all of us have someone in our lives like that
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if they quit buying overpriced Supreme tshirts, fake glasses, and home brewing kits they'd have money.
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But a baby boomer told me that millennials are poor, because they're too lazy to work a job. Why would a baby boomer say something to trash another generation and make them feel good about themselves by comparison?
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ohnoitschris posted...

Dash_Harber posted...

Prestoff posted...

Literally a product of our time.

It's so true.

I remember one of my wife's workmates telling us how when he was our age he had is own house and it was all possible just because he worked hard. Never mind the fact that we live in mother-fucking Metro-Vancouver and both work our asses off just to rent a one room apartment.

I think all of us have someone in our lives like that

Yeah, completely off topic, but I can't stand the guy. He bitches at me to take off my hat at a table because, 'it's a respect thing', then goes on to loudly use slurs for Chinese people and call gay people a certain inappropriate term.

Like, fuck you, my hat is a lot less offensive than you cursing out gay people for no fucking reason.

Baby boomers limit housing supply through regulations because more houses devalue their properties. Meanwhile, millennials have to settle for inflated housing prices and be called lazy. Baby booms need to realize if Millennials dont have their finances secure, you can kiss Social Security and Medicare goodbye because millennials can't afford to pay into that either. Life-expectancy will continue to decline. I have no doubt

cerealbox760 posted...

Baby boomers limit housing supply through regulations because more houses devalue their properties. Meanwhile, millennials have to settle for inflated housing prices and be called lazy. Baby booms need to realize if Millennials dont have their finances secure, you can kiss Social Security and Medicare goodbye because millennials can't afford to pay into that either. Life-expectancy will continue to decline.

we pay in by force. its taken before you even get paid.
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Dash_Harber posted...

ohnoitschris posted...

Dash_Harber posted...

Prestoff posted...

Literally a product of our time.

It's so true.

I remember one of my wife's workmates telling us how when he was our age he had is own house and it was all possible just because he worked hard. Never mind the fact that we live in mother-fucking Metro-Vancouver and both work our asses off just to rent a one room apartment.

I think all of us have someone in our lives like that

then goes on to loudly use slurs for Chinese people

I'm legally required to post this every time that subject comes up:

https://www.youtube.com/watch?v=OYOzUHnPJvU" data-time="

Also, keep ranting about him if you've got more in you, that guy sounds like a real piece of work
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Dash_Harber posted...

ohnoitschris posted...

Dash_Harber posted...

Prestoff posted...

Literally a product of our time.

It's so true.

I remember one of my wife's workmates telling us how when he was our age he had is own house and it was all possible just because he worked hard. Never mind the fact that we live in mother-fucking Metro-Vancouver and both work our asses off just to rent a one room apartment.

I think all of us have someone in our lives like that

Yeah, completely off topic, but I can't stand the guy. He bitches at me to take off my hat at a table because, 'it's a respect thing', then goes on to loudly use slurs for Chinese people and call gay people a certain inappropriate term.

Like, fuck you, my hat is a lot less offensive than you cursing out gay people for no fucking reason.

Tell the guy to go fuck himself next time he does that shit and keep your hat on because he's not worthy of respect.
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ohnoitschris posted...

Dash_Harber posted...

ohnoitschris posted...

Dash_Harber posted...

Prestoff posted...

Literally a product of our time.

It's so true.

I remember one of my wife's workmates telling us how when he was our age he had is own house and it was all possible just because he worked hard. Never mind the fact that we live in mother-fucking Metro-Vancouver and both work our asses off just to rent a one room apartment.

I think all of us have someone in our lives like that

then goes on to loudly use slurs for Chinese people

I'm legally required to post this every time that subject comes up:

https://www.youtube.com/watch?v=OYOzUHnPJvU" data-time="

Also, keep ranting about him if you've got more in you, that guy sounds like a real piece of work

I've never seen this movie, but I know what I'm doing tonight. Also, his term was much worse. But yeah, it just reminded me of that and I had to vent, my apologies for derailing the topic.

Dash_Harber posted...

Prestoff posted...

Literally a product of our time.

It's so true.

I remember one of my wife's workmates telling us how when he was our age he had is own house and it was all possible just because he worked hard. Never mind the fact that we live in mother-fucking Metro-Vancouver and both work our asses off just to rent a one room apartment.

My aunt and her ex-husband had a home in Vancouver that they bought in the early 80s. They sold it in the late 80s after they got divorced.

To this day she still gets super angry when she thinks about it because that house is worth over 10 times what they sold it for now just because of the value of the land alone.
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Dash_Harber posted...

ohnoitschris posted...

Dash_Harber posted...

ohnoitschris posted...

Dash_Harber posted...

Prestoff posted...

Literally a product of our time.

It's so true.

I remember one of my wife's workmates telling us how when he was our age he had is own house and it was all possible just because he worked hard. Never mind the fact that we live in mother-fucking Metro-Vancouver and both work our asses off just to rent a one room apartment.

I think all of us have someone in our lives like that

then goes on to loudly use slurs for Chinese people

I'm legally required to post this every time that subject comes up:

https://www.youtube.com/watch?v=OYOzUHnPJvU" data-time="

Also, keep ranting about him if you've got more in you, that guy sounds like a real piece of work

I've never seen this movie, but I know what I'm doing tonight. Also, his term was much worse. But yeah, it just reminded me of that and I had to vent, my apologies for derailing the topic.

nah, your posts made this topic worth reading

That movie is The Big Lebowski, it's a huge cult hit, I didn't really care for it personally but it's super quotable and that scene is great
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ohnoitschris posted...

That movie is The Big Lebowski, it's a huge cult hit, I didn't really care for it personally but it's super quotable and that scene is great

Yeah, I recognized it, I just haven't seen it. I've heard it's great, it was just one of those things I always meant to get around to and never did.

Jeff AKA Snoopy posted...

golf-equipment makers to razor manufacturers.

Yeah cause razor manufacturers will sell you a unit for $15 and then charge you $10 per replacement head.

And golf clubs are fucking stupid expensive.
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Bio1590 posted...

Jeff AKA Snoopy posted...

golf-equipment makers to razor manufacturers.

Yeah cause razor manufacturers will sell you a unit for $15 and then charge you $10 per replacement head.

And golf clubs are fucking stupid expensive.

we want them in business we cant prank em otherwise
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GasMonkey posted...

cerealbox760 posted...

Baby boomers limit housing supply through regulations because more houses devalue their properties. Meanwhile, millennials have to settle for inflated housing prices and be called lazy. Baby booms need to realize if Millennials dont have their finances secure, you can kiss Social Security and Medicare goodbye because millennials can't afford to pay into that either. Life-expectancy will continue to decline.

we pay in by force. its taken before you even get paid.

If Millennials aren't making much money, there isn't much to take. Also, the younger generation is becoming increasingly conservative. And most are waking up to the fact that these social programs won't exist by the time they are old.

I'm not buying it. Interests just changed. If millennials are so broke why do we all have $1k phones gaming pcs multiple consoles decent vehicles go to festivals, concerts, eat out a bunch, vacations. I don't feel poor just different. I only know one dude who likes to play golf and spending $30 for an 8 pack of razors is dumb when you can buy an electric for cheaper that lasts years.
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cerealbox760 posted...

GasMonkey posted...

cerealbox760 posted...

Baby boomers limit housing supply through regulations because more houses devalue their properties. Meanwhile, millennials have to settle for inflated housing prices and be called lazy. Baby booms need to realize if Millennials dont have their finances secure, you can kiss Social Security and Medicare goodbye because millennials can't afford to pay into that either. Life-expectancy will continue to decline.

we pay in by force. its taken before you even get paid.

If Millennials aren't making much money, there isn't much to take. Also, the younger generation is becoming increasingly conservative. And most are waking up to the fact that these social programs won't exist by the time they are old.

fair point
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eggcorn posted...

I'm not buying it. Interests just changed. If millennials are so broke why do we all have $1k phones gaming pcs multiple consoles decent vehicles go to festivals, concerts, eat out a bunch, vacations. I don't feel poor just different. I only know one dude who likes to play golf and spending $30 for an 8 pack of razors is dumb when you can buy an electric for cheaper that lasts years.

So if I omit an iphone, couple consoles, vehicles and an 8 pack of razors, ill be able to afford a house? Cool where do I sign up? I sick of paying 2k for rent.

cerealbox760 posted...

eggcorn posted...

I'm not buying it. Interests just changed. If millennials are so broke why do we all have $1k phones gaming pcs multiple consoles decent vehicles go to festivals, concerts, eat out a bunch, vacations. I don't feel poor just different. I only know one dude who likes to play golf and spending $30 for an 8 pack of razors is dumb when you can buy an electric for cheaper that lasts years.

So if I omit an iphone, couple consoles, vehicles and an 8 pack of razors, ill be able to afford a house? Cool where do I sign up? I sick of paying 2k for rent.

If 2k a month is too much for you you probably shouldn't be buying all of that frivolous crap anyway.
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Industry can't adapt with the times, blames customers.
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Back in the day clothes were bought from the Salvation Army and the Government provided the food.

You went to school wearing clothes that belonged to some other kid from the year before or you wore your older sisters or brothers clothes.

Shoes had to last a year or two.
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eggcorn posted...

cerealbox760 posted...

eggcorn posted...

I'm not buying it. Interests just changed. If millennials are so broke why do we all have $1k phones gaming pcs multiple consoles decent vehicles go to festivals, concerts, eat out a bunch, vacations. I don't feel poor just different. I only know one dude who likes to play golf and spending $30 for an 8 pack of razors is dumb when you can buy an electric for cheaper that lasts years.

So if I omit an iphone, couple consoles, vehicles and an 8 pack of razors, ill be able to afford a house? Cool where do I sign up? I sick of paying 2k for rent.

If 2k a month is too much for you you probably shouldn't be buying all of that frivolous crap anyway.

How many people on this site do you honestly think even earn over 2k per month period post-reductions (like tax) let alone could afford 2k per month in rent
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eggcorn posted...

cerealbox760 posted...

eggcorn posted...

I'm not buying it. Interests just changed. If millennials are so broke why do we all have $1k phones gaming pcs multiple consoles decent vehicles go to festivals, concerts, eat out a bunch, vacations. I don't feel poor just different. I only know one dude who likes to play golf and spending $30 for an 8 pack of razors is dumb when you can buy an electric for cheaper that lasts years.

So if I omit an iphone, couple consoles, vehicles and an 8 pack of razors, ill be able to afford a house? Cool where do I sign up? I sick of paying 2k for rent.

If 2k a month is too much for you you probably shouldn't be buying all of that frivolous crap anyway.

Sure. And im not disputing that irresponsible spending is good. But to say penny-pinching will get you a house is ridiculous. learn2math.

cerealbox760 posted...

eggcorn posted...

cerealbox760 posted...

eggcorn posted...

I'm not buying it. Interests just changed. If millennials are so broke why do we all have $1k phones gaming pcs multiple consoles decent vehicles go to festivals, concerts, eat out a bunch, vacations. I don't feel poor just different. I only know one dude who likes to play golf and spending $30 for an 8 pack of razors is dumb when you can buy an electric for cheaper that lasts years.

So if I omit an iphone, couple consoles, vehicles and an 8 pack of razors, ill be able to afford a house? Cool where do I sign up? I sick of paying 2k for rent.

If 2k a month is too much for you you probably shouldn't be buying all of that frivolous crap anyway.

Sure. And im not disputing that irresponsible spending is good. But to say penny-pinching will get you a house is ridiculous. learn2math.

uhhh
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Thanks a lot millennials
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Capitalists leeching all the capital they can before they move to China
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thats what happens when you increase the price of everything but never increase wages

who woulda thunk it

except, its not "millennials" fault... its the corporations and government
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ohnoitschris posted...

*puts everyone 5-6 figures in debt just to get a college degree that's required to get any job above minimum wage*

You don't actually believe this do you?
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Rika_Furude posted...

thats what happens when you increase the price of everything but never increase wages

who woulda thunk it

except, its not "millennials" fault... its the corporations and government

No, that's what happens when we fail to teach kids good financial sense early on so they know how to live within their means when they become adults.
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People who make six figures still don't have any savings for the most part. We have a spending problem, not an income problem.
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Industries are closing down because they are not adapting to new consumer spending (less)

Millennials are smarter about spending their money, industries are complaining they arent buying their (expensive) products

If you write the headlines like that, its not the millennials fault is it?
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Paragon21XX posted...

Rika_Furude posted...

thats what happens when you increase the price of everything but never increase wages

who woulda thunk it

except, its not "millennials" fault... its the corporations and government

No, that's what happens when we fail to teach kids good financial sense early on so they know how to live within their means when they become adults.

You... you do realize that prices rising and wages stagnating is a fact, right?

Like, an actual, documented, easily traceable one?

Living within means becomes much harder when your means cover steadily less and less

Well I mean 25 cents back then went way farther then say a dollar does today.

DarkBuster22904 posted...

Paragon21XX posted...

Rika_Furude posted...

thats what happens when you increase the price of everything but never increase wages

who woulda thunk it

except, its not "millennials" fault... its the corporations and government

No, that's what happens when we fail to teach kids good financial sense early on so they know how to live within their means when they become adults.

You... you do realize that prices rising and wages stagnating is a fact, right?

Like, an actual, documented, easily traceable one?

Living within means becomes much harder when your means cover steadily less and less

My point still holds regardless of the fact that wages have stagnated.
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Paragon21XX posted...

My point still holds

nope
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Our college system is the problem, really. Everyone I know rushed off to college to start on their career path, racked up crippling debt, and struggled with keeping up with everything in this fast paced world of ours.

After highschool, I fucked off, self-educated, got a job, went to college around 27-ish, took... bare minimum loans, and went on my merry way with minimal problems. I feel like getting your life straight first is a must in these days. Self teaching for about 8 years also saved me a boatload of cash.

That said, that was still a very timely and expensive bandaid to problems this world has created. Everything's about the bottom line now. Gaming's practices are very much aligned with the way the world is going.

https://www.youtube.com/watch?v=7C1Pr4AU2wc" data-time="
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Corporations: We want to pay our employees less than we should. We also want to demand a degree's worth of experience for employment

Also corporations: Wtf why aren't people buying anything anymore?

There's a reason Henry Ford paid his employees well. So they could buy the cars they built.
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kingdrake2 posted...

https://www.youtube.com/watch?v=7C1Pr4AU2wc" data-time="

I miss that crew.
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By the way, everyone complaining about America should know it's much harder to be single and young in western Europe. Try affording decent rent or a mortgage in France or Germany or the UK on your own lmao. A much bigger chunk of your change than most of America, excluding obvious problem cities like San Francisco.

American youngsters can still thrive on their own if they have common sense, discipline, and if they aim for a good career. Note also that our parents lived in much smaller houses than we aim to live in these days. In terms of square feet, people 50 years ago got by with much less.

Americans want their parents' standard of living without working and earning it.
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