HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » This message was self-del...

Mon May 3, 2021, 10:29 PM

This message was self-deleted by its author

This message was self-deleted by its author (USAFRetired_Liberal) on Tue May 4, 2021, 06:15 AM. When the original post in a discussion thread is self-deleted, the entire discussion thread is automatically locked so new replies cannot be posted.

90 replies, 2603 views

Cannot reply in locked threads

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 90 replies Author Time Post
Reply This message was self-deleted by its author (Original post)
USAFRetired_Liberal Monday OP
Yavin4 Monday #1
USAFRetired_Liberal Monday #2
kcr Tuesday #61
BannonsLiver Monday #17
DBoon Monday #26
brush Tuesday #69
FirstLight Monday #28
Coventina Monday #29
USAFRetired_Liberal Monday #34
Coventina Tuesday #36
Withywindle Tuesday #70
hlthe2b Tuesday #82
gay texan Tuesday #44
meadowlander Tuesday #53
Wingus Dingus Tuesday #58
budkin Tuesday #66
hedda_foil Monday #3
FirstLight Monday #31
MustLoveBeagles Monday #4
USAFRetired_Liberal Monday #5
Dream Girl Monday #6
Elessar Zappa Monday #7
kcr Tuesday #48
Wingus Dingus Tuesday #60
brush Tuesday #71
I_UndergroundPanther Monday #8
I_UndergroundPanther Monday #9
Post removed Monday #10
USAFRetired_Liberal Monday #27
Buckeyeblue Monday #11
GulfCoast66 Monday #12
appalachiablue Monday #13
DenaliDemocrat Tuesday #50
appalachiablue Tuesday #59
genxlib Monday #14
WarGamer Monday #15
blogslug Monday #16
littlemissmartypants Monday #18
BannonsLiver Monday #20
USAFRetired_Liberal Tuesday #39
littlemissmartypants Tuesday #46
littlemissmartypants Tuesday #45
themaguffin Tuesday #85
USAFRetired_Liberal Monday #22
stopdiggin Monday #19
joetheman Monday #21
BannonsLiver Monday #23
Wingus Dingus Tuesday #62
kcr Tuesday #64
Wingus Dingus Tuesday #65
themaguffin Tuesday #86
Celerity Tuesday #68
brush Tuesday #72
Celerity Tuesday #73
brush Tuesday #74
Celerity Tuesday #76
Post removed Monday #24
USAFRetired_Liberal Monday #30
FirstLight Monday #25
Coventina Monday #32
Celerity Tuesday #67
betsuni Tuesday #75
Celerity Tuesday #77
betsuni Tuesday #78
Celerity Tuesday #79
betsuni Tuesday #80
Celerity Tuesday #81
betsuni Tuesday #83
Celerity Tuesday #90
USAFRetired_Liberal Tuesday #89
themaguffin Tuesday #87
ellie Monday #33
Bettie Monday #35
USAFRetired_Liberal Tuesday #37
Bettie Tuesday #40
USAFRetired_Liberal Tuesday #43
Coventina Tuesday #38
USAFRetired_Liberal Tuesday #41
DBoon Tuesday #42
betsuni Tuesday #47
JI7 Tuesday #57
DonCoquixote Tuesday #49
tenderfoot Tuesday #51
kcr Tuesday #56
tenderfoot Tuesday #63
JI7 Tuesday #52
xmas74 Tuesday #54
Devil Child Tuesday #55
USAFRetired_Liberal Tuesday #88
themaguffin Tuesday #84

Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 10:34 PM

1. Gen Xers were always the worst.

iThis is the generation that grew up with and idolized Reagan and made AIDs jokes.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Yavin4 (Reply #1)

Mon May 3, 2021, 10:35 PM

2. Your Reagan point is very true

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Reply #2)

Tue May 4, 2021, 02:20 AM

61. The Reagan point isn't true at all

Only the very oldest of Gen-X will really remember much of Reagan. Most of us were elementary school-aged or younger. We came of age under President Clinton.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Yavin4 (Reply #1)

Mon May 3, 2021, 11:21 PM

17. Righhhhhht

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Yavin4 (Reply #1)

Mon May 3, 2021, 11:47 PM

26. and rejected the political protests of their elders

Political activism seemed at best old fashioned and at worst part of the drug sotted '60s culture.

They set themselves apart from the "hippie generation" by being straight laced materialistic achievers.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to DBoon (Reply #26)

Tue May 4, 2021, 03:18 AM

69. It's unfortunate that they missed the '60s protest generation.

They might not be such a-holes if they had toked a bit and learned to distrust republicans.

It's not all of them of course. Boomers have been accused of this too and I've always said, it's not all of us either.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Yavin4 (Reply #1)

Mon May 3, 2021, 11:48 PM

28. Idolized Reagan...???

That crazy MFer had us thinking we were one step away from nukes with Old Skool RUSSIA!

From the age of 10-18 I worried about that shit, constantly. And I wasnt the only one...

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Yavin4 (Reply #1)

Mon May 3, 2021, 11:49 PM

29. Put down your broad brush before you hurt yourself.

I'm a gen-x and nobody in my peer group was like that at all.

We were ANTI-Reagan and very supportive of gay rights.

Are there some marginalized malcontents? Sure, but those exist in every generation.

We were the generation of:

U2 (social justice, anti-war)
REM (anti-Reagan, social justice, anti-war, pro-environment)
Frankie Goes to Hollywood (out gay band)
Pet Shop Boys (out gay band)
Go-Go's (first all-woman band to write their own songs, handle their own marketing, etc.)
Madonna (pro-LGBT, social justice, anti-war)
I could go on and on, but you get the idea.

We've always suffered due to lack of coverage, because we lack numbers, but we are NOT regressive!

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Coventina (Reply #29)

Mon May 3, 2021, 11:56 PM

34. I said in my OP that I know every white Gen X'er wasn't like this

Just a big chunk so hopefully you didn’t take my OP as attack...but you brought up some good points on your post about the music that you and the liberal Gen X’ers like....the conservative Gen X’ers that I run into also like U2, REM, Grunge era groups, etc but I scratch my head because they seem to not listen to the actual meaning of their songs

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Reply #34)

Tue May 4, 2021, 12:00 AM

36. I was more reacting to "Gen-X was always the worst"

I really take exception to that.

In my experience, the worst is the Silent Generation, the ones between the "Greatest" and the Baby Boomers.

But, I'm sure there are lovely people in that as well.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Coventina (Reply #29)

Tue May 4, 2021, 03:23 AM

70. + yup

Also Gen X, Haaaaaaaaaaated Reagan as a teenager. We were fatalistic because we came of age during the Cold War and the AIDS crisis. We didn't think we were going to see 30.

I played the Artists United Against Apartheid record until it almost wore out.



I get OPs point and I don't want to be like Not All White Gen Xers because it's true, a lot of us are awful, and people who were progressive then sure did feel in the minority at the time.

Sadly a lot of Millennials and Zoomers are awful too. Lots of 20s-30s white people in the Boogaloo, Proud Boys, all sorts of horrible Nazi shit.

People have been saying since the 50s and 60s, "Wait for these fucked-up older generations to die off, the young people will all be so much better." It's not true. As old bigots die off, young bigots replace them.



Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Coventina (Reply #29)

Tue May 4, 2021, 06:48 AM

82. +++ That is my impression and memory as well, though I'm no GEN Xer.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Yavin4 (Reply #1)

Tue May 4, 2021, 12:15 AM

44. Broad brush much? N/t

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Yavin4 (Reply #1)

Tue May 4, 2021, 01:17 AM

53. I was 4-12 at the time

and didn't know who Reagan or what AIDs was.

I do think that Gen X grew up in a climate of extreme blowback to the progress that feminism and other civil rights groups made in the 70s.

Rush Limbaugh came to prominence in the 90s when Gen Xers were in their 20s and a lot of them were poisoned by hate radio during their service in the first Gulf War or were influenced by the Howard Stern/Jerky Boys "isn't it funny and edgy to disrespect women" years.

Dude bro culture flourished among Gen Xers, at least the guys I know, and I think that's a gateway to being an obnoxious asshole in other aspects of politics.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Yavin4 (Reply #1)

Tue May 4, 2021, 02:13 AM

58. I don't remember anyone of my generation idolizing Reagan.

Most of us weren't old enough to ever vote for him. AIDS jokes--well many of us were teenagers in the 80's, and teenagers tell stupid and crude jokes, especially as dark humor since we were the first generation to deal with it as adolescents...but it wasn't a big collective "thing".

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Yavin4 (Reply #1)

Tue May 4, 2021, 02:51 AM

66. Nope

Not even remotely correct.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 10:35 PM

3. Gen X came of age during the Reagan-Bush1 greed is good years.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to hedda_foil (Reply #3)

Mon May 3, 2021, 11:50 PM

31. to some extent...

but the ones who really benefited in thos years were the 30 somethings... boomers?

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 10:39 PM

4. I'm a Gen X'er and I agree

Many of them (not all) are also very entitled.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to MustLoveBeagles (Reply #4)

Mon May 3, 2021, 10:40 PM

5. Yep that's a good word

Entitled

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 10:44 PM

6. I'm African American and I agree with your observation.

A

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 10:46 PM

7. It does seem that way.

Maybe because they came of age at the height of Reaganism?

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Elessar Zappa (Reply #7)

Tue May 4, 2021, 12:56 AM

48. We did NOT come of age at the height of Reaganism

I'm smack in the middle of that generation and I was in elementary school when Reagan was president.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to kcr (Reply #48)

Tue May 4, 2021, 02:18 AM

60. I think these people watched too much "Family Ties" and think we're

all the Alex P. Keaton character or something--WTF with Reagan? We were kids and teens!

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to kcr (Reply #48)

Tue May 4, 2021, 03:33 AM

71. Reaganism and trickle down long outlasted his presidency.

In fact, he was idolized by republicans and his influence was felt until the trumpers took over.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 10:49 PM

8. 80s were always called the me generation

So me,me,me being the theme for an era they grew up in with shows like the one about expensive birthdays,homes of the rich and famous etc.
It always had classist racist overtones.

It had an effect,it helped on some level reinforce the stupid narcissism on some mass level we see today.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)


Response to USAFRetired_Liberal (Original post)


Response to Post removed (Reply #10)

Mon May 3, 2021, 11:48 PM

27. Yet

Yet you seem to be posting on it and following it...even came back to edit your post...rolling eyes

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 10:55 PM

11. I think it's because we basically raised ourselves...

Those who were lower IQ never learned empathy. Instead, they watched their friends go off to college and never come back. MTV reminded them daily how dull their lives were. They turned to store front religion and thinly vailed white supremacy. But more than that, they are so bitter toward anyone with an education that they have outright rejected any science that contradicts their world view.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 10:56 PM

12. I'm a 54 year old white man. So one of the oldest Gen Xer.

And I agree. For much of my life I was a Republican but not the religious type. International travel started changing me starting in the late 90’s. And living in a very diverse community working for a very diverse company. Obama cemented the change.

We grew up under Reagan in our formative years. I was 14 when he was elected. Fortunately those behind us don’t seem the same way.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 11:01 PM

13. 3 words: Ronald Wilson Reagan (aka 'Dutch')

1980, the real start of the scourge. I haven't forgiven Calif. yet. Sorry.

Greed is Good, Wall Street

Government is the problem, not the solution

Deregulation of businesses, banks

End of the Fairness Doctrine for news media

Union busting to hurt workers, Democratic voters and the Dem Party

Star Wars

Ending affordable college education

Ruining the mental health system

TV: 'Lifestyles of the Rich & Famous,' 'Dallas,' 'Dynasty'- glitter, greed garbage

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to appalachiablue (Reply #13)

Tue May 4, 2021, 01:10 AM

50. We didn't do those things, our parents did

We were also latch key kids and extremely self-reliant. I wouldn’t say we are more conservative, but certainly less empathetic to the plight of others.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to DenaliDemocrat (Reply #50)

Tue May 4, 2021, 02:13 AM

59. In the list I focused on many ills

brought by the RR admin, as I tend to do. Trickle Down is a killer, the drastic effects of which we're still living with god knows.

I should have been clearer that I wasn't addressing Gen X and Mill as more conservative and racist one way or another.

In thinking about it this could inspire me to make up some much needed T-shirts if they're not already produced:

"I survived Reaganism, I remembered to duck."

"Trickle down is a killer, Just say No."

More, let me think on it, heh.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 11:03 PM

14. Sadly

This white genx can’t argue with you.

One thing I would point out is that post desegregation equals forced bussing. I remember riding a bus all over town. There were a lot of kids from white neighborhoods who resented that. Just being in schools with POC wasn’t enough for those early generations.

I confess I started out wrong and took a turn for the better when I came of age. Been working on improving my entire life.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 11:05 PM

15. While not racist...

I've noticed a conservative streak in Millennials...

More of a Libertarian flavor than Reagan flavor... but not really progressive.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 11:16 PM

16. I think younger people are just more energetic and idealistic

Be they liberal or right-wing

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 11:32 PM

18. I needed a reference, found this on Wikipedia ...

Gen X was born between 1965 and 1979/80 and is currently between 41-56 years old (65.2 million people in the U.S.)


And it isn't helpful to me because I don't know many people who belong to that cohort.

Interesting premise though, USAFRetired_Liberal.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to littlemissmartypants (Reply #18)

Mon May 3, 2021, 11:39 PM

20. It's actually kind of a dumb premise to be honest.

Do you believe generations are monolithic as well?

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to BannonsLiver (Reply #20)

Tue May 4, 2021, 12:07 AM

39. Why did you delete your original post on here

You posted, then edited, then when I responded you deleted it....

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Reply #39)

Tue May 4, 2021, 12:28 AM

46. Someone needs a nap, it seems. ❤

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to BannonsLiver (Reply #20)

Tue May 4, 2021, 12:25 AM

45. It's not my premise, BannonsLiver.

My beliefs exist no where in my reply and my comments were in no way, directed toward you. ❤

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to BannonsLiver (Reply #20)

Tue May 4, 2021, 06:57 AM

85. It's very dumb and ignorant.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to littlemissmartypants (Reply #18)

Mon May 3, 2021, 11:40 PM

22. Wow

I just guesstimated what ages I thought Gen X’ers were and came pretty close....at age 40 I feel out of place with them and millennials...

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 11:34 PM

19. civility started to become de-emphasized ....

In many areas -- sports, entertainment, religion, politics ....
These people were not raised with that as an essential quality. "Winners and losers" became much more the name of the game.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 11:39 PM

21. They have too much money, few skills, and really bad social skills.

Mom and dad did it all for them and they only have to worry about their stock portfolios. They just don't want to giver their UNEARNED money to less fortunate people and especially people of color.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to joetheman (Reply #21)

Mon May 3, 2021, 11:42 PM

23. You spelled Baby Boomers wrong.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to joetheman (Reply #21)

Tue May 4, 2021, 02:21 AM

62. I think you're thinking of millennials.

Gen X was self-sufficient.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Wingus Dingus (Reply #62)

Tue May 4, 2021, 02:28 AM

64. I think the Boomers and Millennials of DU in this thread

are both projecting their ish onto the invisible generation, as always.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to kcr (Reply #64)

Tue May 4, 2021, 02:32 AM

65. Yeah, there's someone above who says we're materialistic achievers and

all I could think of was, what happened to the "slacker" label they gave us? Helicopter parents who take care of everything for us? Nope, wasn't us. And it was the Baby boomers and WW2 and silent generation before them who worshipped Reagan, it wasn't us middle school and high school kids.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to kcr (Reply #64)

Tue May 4, 2021, 06:58 AM

86. Yep, this thread premise is very disappointing

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Wingus Dingus (Reply #62)

Tue May 4, 2021, 03:17 AM

68. Millennials as a whole are staggeringly less well off than both Gen X and especially Boomers.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Celerity (Reply #68)

Tue May 4, 2021, 03:45 AM

72. A lot of that is a matter of age. They'll accumulate more...

as they get older and earn more. It happens.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to brush (Reply #72)

Tue May 4, 2021, 03:51 AM

73. Not likely, given the meta trends.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Celerity (Reply #73)

Tue May 4, 2021, 03:59 AM

74. Well, everybody's set back by covid. But you accumulate more...

as you get more established in a career and earn more. Of course many get left behind because of bad breaks.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to brush (Reply #74)

Tue May 4, 2021, 05:12 AM

76. Was a trend LONG before COVID. COVID is just another nail in the coffin.

Millennials Don't Stand a Chance

They’re facing a second once-in-a-lifetime downturn at a crucial moment.

https://www.theatlantic.com/ideas/archive/2020/04/millennials-are-new-lost-generation/609832/

Hello, lost generation.

The Millennials entered the workforce during the worst downturn since the Great Depression. Saddled with debt, unable to accumulate wealth, and stuck in low-benefit, dead-end jobs, they never gained the financial security that their parents, grandparents, or even older siblings enjoyed. They are now entering their peak earning years in the midst of an economic cataclysm more severe than the Great Recession, near guaranteeing that they will be the first generation in modern American history to end up poorer than their parents.

It is too soon to know how the unfurling business-failure and unemployment crisis caused by this novel public-health crisis is hitting different age groups, or how much income and wealth each generation is losing; it is far too soon to know how different groups will rebound. But we do know that Millennials are vulnerable. They have smaller savings accounts than prior generations. They have less money invested. They own fewer houses to refinance or rent out or sell. They make less money, and are less likely to have benefits like paid sick leave. They have more than half a trillion dollars of student-loan debt to keep paying off, as well as hefty rent and child-care payments that keep coming due.

Compounding their troubles, Millennials are, for now, disproportionate holders of the kind of positions disappearing the fastest: This is a jobs crisis of the young, the diverse, and the contingent, meaning disproportionately of the Millennials. They make up a majority of bartenders, half of restaurant workers, and a large share of retail workers. They are also heavily dependent on gig and contract work, which is evaporating as the consumer economy grinds to a halt. It’s a cruel economic version of that old Catskill resort joke: These are terrible jobs, and now all the young people holding them are getting fired. What little data exist point to a financial tsunami for younger workers. In a new report, Data for Progress found that a staggering 52 percent of people under the age of 45 have lost a job, been put on leave, or had their hours reduced due to the pandemic, compared with 26 percent of people over the age of 45. Nearly half said that the cash payments the federal government is sending to lower- and middle-income individuals would cover just a week or two of expenses, compared with a third of older adults. This means skipped meals, scuppered start-ups, and lost homes. It means Great Depression–type precarity for prime-age workers in the richest country on earth.

Recessions are not good for anyone, from infants to the elderly. Nor are pandemics. Americans born during this calamity will be more likely to have low birth weights and to be in poor health generally, with lifelong effects. Children will not just endure this trauma—manifested in lost months of schooling, skipped meals, housing volatility, and increased abuse—but will carry it with them. Zoomers graduating into the recession will die sooner because of it, suffering increased incidence of heart disease, lung cancer, liver disease, and drug overdoses in the coming decades; they will also earn less over the course of their lives. The elderly are likely to be the most economically insulated group but are facing the most terrifying health consequences. Among adults the news isn’t good, either. And particularly not for those youngish-but-no-longer-young adults who came into this crisis already vulnerable, already fragile, already over-indebted and underpaid. The Millennials were left with scars during the Great Recession that never quite healed, and inherited an economy structured to manufacture precarity for the young and the poor and black and brown, and to perpetuate wealth for the old and the rich and white.

snip



Millennials dominate the US workforce, but they're still 10 times poorer than boomers

Millennials may dominate the US workforce, but recent Fed data finds they only hold 4.6% of US wealth.
That's 10 times less than the 53.2% of US wealth that baby boomers hold, Bloomberg reported.
A generational wealth gap makes sense because millennials are younger, but the difference is starker than it should be because economic forces have left millennials financially behind.


https://www.businessinsider.com/millennials-versus-boomers-wealth-gap-2020-10?r=US&IR=T

Millennials may be the largest generation workforce in the US, but they're also the least wealthy. The generation holds just 4.6%, or $5.19 trillion, of US wealth, Bloomberg reported, citing recent Federal Reserve data. Boomers, however, are 10 times wealthier. They hold 53.2%, or $59.96 trillion, of US wealth. That's also twice the $28.5 trillion of US wealth that Gen X holds. The Fed defined millennials as those born between 1981 and 1996 (turning ages 24 to 39 in 2020) and boomers as those born between 1946 and 1964 (turning ages 56 to 74 in 2020). It's a stark generational wealth gap considering there are 56 million millennials in the workforce, per the Pew Research Center, more than any other generation. By comparison, there are 41 million boomers in the workforce. This wealth gap is partially explained by the fact that boomers are older, so they've had more time to accumulate wealth. Millennials haven't yet reached their peak earning years, and the youngest are still earning entry-level salaries. But historical trends indicate that the wealth gap shouldn't be this big. When boomers were millennials' age in 1989, according to the Fed data, they held 21.3% of US wealth. That's four times the 4.6% that millennials hold today.

Millennials are lagging behind in wealth

The chart below, which highlights the percentage of US wealth held by age, shows that younger Americans are financially behind and their wealth levels are below where they should be.


Wealth for those above age 55 has increased, while wealth for those younger than 55 has decreased.

Wealth for those above age 70 has increased, but it's not as significant as the increase in wealth for those in the 55 to 69 age group. This indicates that boomers are outpacing the Silent Gen in wealth accumulation as they enter retirement. Meanwhile, wealth for those in the 40 to 54 age bracket and for those under age 40 has decreased, which indicates that millennials and Gen X are lagging behind boomers as they move into those age brackets. These findings underscore previous reports from 2019 revealing the millennial-boomer wealth gap.

A report by think tank New America found that millennials earn 20% less than boomers did at their age, and a MagnifyMoney study of Fed data found a $600,000 gap between the average net worth of millennials and boomers when they were millennials' age. The generational wealth gap is partly a result of The Great American Affordability Crisis, in which millennials are struggling with rising living costs such as housing, increasing student-loan debt, and the ongoing fallout of the Great Recession. The pandemic is just the latest challenge delaying millennials' financial growth. Younger workers have been hardest hit by the pandemic in terms of job loss, potentially further delaying the closing of the generational wealth gap.

snip





The staggering millennial wealth deficit, in one chart (and this is right BEFORE COVID hit)

The divide widens with each generation, data show, the byproduct of wage stagnation and income inequality

https://www.washingtonpost.com/business/2019/12/03/precariousness-modern-young-adulthood-one-chart/



Few things capture the precariousness of life for today’s young adults like a visualization of their wealth. Economist Gray Kimbrough did just that, using Federal Reserve data to compare how generations fared financially at different points of their life cycles. Wealth is a measure of what people own: their assets (which typically include homes, cash savings and stocks) minus their debts (like mortgages, student loans, consumer debt). Its importance to an individual, a nation or an entire generation cannot be overstated; it gives families a safety net during hard economic times, such as a layoff, and is intertwined with such milestones of adult life as buying a home, starting a business or retiring comfortably.




As the chart above shows, baby boomers — those born between 1946 and 1964 — collectively owned 21 percent of the nation’s wealth by the time their generation hit a median age of 35 in 1990. Generation X (born from 1965 to 1980) came of age during the era of wage stagnation and growing inequality ushered in by the 1970s and ’80s. When the typical Gen Xer reached 35 in 2008, his or her share of the nation’s wealth was just 9 percent, less than half that of boomers at a comparable point in life.

Millennials haven’t hit the 35 mark yet — that won’t happen until about 2023 — but their financial situation is relatively dire. They own just 3.2 percent of the nation’s wealth. To catch up to Gen Xers, they’d need to triple their wealth in just four years. To reach boomers, their net worth would need a sevenfold jump.
These generation-wide sums hide the considerable variation within each generation, which is a more familiar story: Wealth is highly concentrated among the richest members of each cohort, even more so than income. Because of rising inequality throughout the economy, the very wealthy have amassed enormous stockpiles of treasure, leaving little for everyone else.

One important caveat to the chart above is that the three generations aren’t the same size, population-wise. In 1990, for instance, boomers accounted for 31 percent of the total U.S. population. In 2008, GenXers were only 22 percent of the population. So we can say that in 1990, boomers owned 21 percent of the nation’s wealth and represented 31 percent of the population, for a wealth-to-population ratio of 0.68 — each percentage point of the total U.S. population represented by boomers, in other words, owned 0.68 percent of the wealth.

snip





The Millennial Wealth Gap: Smaller Wallets than Older Generations

https://www.stlouisfed.org/open-vault/2020/february/millennial-wealth-gap-smaller-wallets-older-generations

snip

Older millennials own fewer homes and are 34% “poorer” than expected

Indeed, only 44% of older millennial families were homeowners in 2016, which is 4 percentage points lower than we would expect based on older generations at the same age. We define older millennials as families headed by someone born between 1980 and 1989. More striking is the fact that the typical older millennial family was 34% poorer than we would have expected. By typical, we mean a family at the middle, or median. This difference in their median wealth (what they own minus what they owe) amounted to $12,000.2 For someone at the beginning of adulthood, this is a lofty sum to miss out on.

Those without bachelor’s degrees fall 44% short of wealth expectations

Breaking it down further—which we did when my colleagues and I published a chapter in New America’s The Emerging Millennial Wealth Gap—we found that it’s really older millennials without bachelor’s degrees who are struggling. The typical income of this group in 2016 was nearly $42,000, which was 9% lower than what we would have expected based on older generations at the same age. The wealth gap between actual median wealth and what we’d expect was astounding: Typical wealth in 2016 was under $14,000, which was 44% lower than expectations of about $25,000. Older millennials with at least a four-year college degree were doing better. With median income of nearly $79,000, they were about 7% above expected income of nearly $74,000. And they were only slightly below wealth expectations, with actual wealth of about $55,000 versus expected wealth of about $58,000. The figure below shows these numbers.



Older millennials also have high debt relative to income

For this generation of older millennials, having less money than older generations at the same age could be very problematic, indeed. They have high debt relative to income compared with what we would expect, and the main types of debt they owe include student loans, auto loans and credit card debt. The assets financed by these types of debt haven’t increased in value as quickly as stocks and housing in the past few years (and in fact, many quickly fall in value after purchase, like cars). Catching up to older generations may prove to be a very difficult task.

snip




The pandemic is deepening a wealth divide among young people: the 'millennial rich' and the 'millennial poor'

https://www.businessinsider.com/pandemic-widened-millennial-wealth-gap-economic-inequality-rich-poor-henry-2021-1

Widening wealth inequality has been a feature of American life in the 21st century, but the coronavirus pandemic has amplified a growing gap within the millennial generation. At the turn of 2020, a large part of the generation was still grappling with the fallout from the 2008 financial crisis when they were slammed with their second recession before its oldest members even hit 40 (the generation will turn ages 25 to 40 in 2021). This only intensified decade long financial challenges including a dismal job market, sky-high levels of student debt, and soaring living costs. Generational researcher Jason Dorsey, the president of the Center for Generational Kinetics, calls these millennials who feel behind financially and professionally "me-llennials," and those who are financially ahead of the game "mega-llennials" — and this latter group has seen stable earnings during the pandemic that they've been able to save while the experience economy has been shut down.

The pandemic has ultimately exacerbated the high income inequality that existed among millennials pre-Covid, said Christine Percheski, demographer and associate professor of sociology at Northwestern University. "This pandemic is widening economic inequalities within millennials, with some millennials relatively unscathed economically and others just completely financially devastated by unemployment losses, increased childcare costs, lost economic opportunities, and lingering health problems that they or family members are going to experience," she said. The result is a disparity in which the millennial rich and the millennial poor will recover at different paces. This intergenerational socioeconomic gap is a reflection of the K-shaped recovery that America has been experiencing, in which the wealthy are bouncing back and the lower-earning aren't.

Some millennials are struggling with unemployment and childcare

The affordability crisis millennials were facing prepandemic hindered their ability to build wealth. Those born in the 1980s are at risk of becoming a "lost generation" that may never be as rich as their parents, Insider previously reported, and the generation as a whole hold a shockingly small amount of wealth compared to what boomers had at their age. Such roadblocks have left these "me-llenials" with little to no financial resources to fall back on in the wake of a second recession. That might explain why they were most likely to say that the pandemic was having a "major" impact on their finances (39%) in a Morning Consult survey that polled 4,000-plus Americans in September, including over 1,200 millennials. Millennials who already had lower earnings prepandemic and millennials with children are among those in the generation suffering the most right now, Percheski said.

About 40% of millennial parents are seeing huge increases in hardships, she added, due to increases in food and housing insecurity and mothers cutting back employment hours or quitting work altogether to meet caregiving needs during the pandemic's school closures. Unpartnered mothers in particular have seen the biggest drop in unemployment during the pandemic compared to other parents, per the Pew Research Center. While Gen X are also parents to those under 18, millennials are now in their prime child-bearing years. When unemployment peaked in April, 14.5% of Americans ages 25 to 34 were unemployed, according to the Bureau of Labor Statistics (this dropped in half to 7% by November). For comparison, at the peak of the Great Recession in 2009, unemployment rates stood at 10%. And while some millennials may have escaped job loss, not all skirted past pandemic pay cuts. "I would imagine a lot of people are burning through whatever savings they had as they experienced unemployment," Percheski said.

snip

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)


Response to Post removed (Reply #24)

Mon May 3, 2021, 11:49 PM

30. Probably bannon's liver

Thanks!

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 11:46 PM

25. I think it is more regional than generational

But then again, I grew up in Oakland/Berkekley and remain pretty liberal minded.

I'm 51 white girl...and had no idea the priviledge I had. I was super middle class... and my dad was not a spendy guy so we didnt have big vacations or do anything with school or sports that cost money. But we were comfortable and my mom was southern, so some stuff was surely passed on to me.

My daughter is a huge reason for much of my education and re-thinking. For as liberal as I am, I had some hard wired thoughts or terms that I didnt even realize were racist, sexist, or ableist. Having a teen with a whole group pf LGBT friends, I learned more than I even thought Id need to know...about pronouns, all kinds of stuff. As a kid of the 80's...there's some pretty cringey movies and cultural stuff we were taught as "normal" ...how many teen movies or tv shows had kids say "That's so gay!" as a slur?

...Anyway... I was gonna say the regional thing applies cuz I went back for a HS reunion and it was so cool to see how much we all really are still openminded for the most part...it's gotta be the "berkeley" in all of us! lol

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 11:54 PM

32. Wow, just wow. I can't believe what I'm reading on this thread.

I'm smack in the middle of Gen-X and I never encountered any of this shit.

We were all listening to Ska bands and punk bands and new wave bands who were ALL against the right wing, racism, homophobia, etc. etc.

And, this was in PHOENIX, not exactly a liberal area. We were self-consciously a new generation with new ideas, kicking against the pricks in charge.



ETA: The biggest local punk band in Phoenix was JFA which was short for Jodie Foster's Army.
So, NOT pro-Reagan AT ALL!!

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Coventina (Reply #32)

Tue May 4, 2021, 03:07 AM

67. I have to laugh at the the boomers finally getting around to shitting all over Gen X on

one of these gen bash threads. Usually it is us Millennials or Gen Zers (I am a 1996 born Zillennial, a cusper) in the barrel getting the old boomer bovver booting.
Welcome to the party.

The audacity for the boomers to call any gen before or after them 'entitled' is truly breathtaking.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Celerity (Reply #67)

Tue May 4, 2021, 04:20 AM

75. All generations do this.

Last edited Tue May 4, 2021, 05:08 AM - Edit history (1)

Your generation will do this. Welcome to the party.

I've been watching Netflix movies and lately there are a lot of high school/college movies. Apart from different technology and pop culture according to the generations, they are the same.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to betsuni (Reply #75)

Tue May 4, 2021, 05:20 AM

77. I certainly don't see Gen X (some who turned 56 years old already) having go after go at the younger

gens like I do with boomers. Also, starting with Gen X and continuing on, each gen is getting poorer and poorer now, with Boomers racking up a huge disparity in wealth versus the others after them, even when you account for the disparate ages. The same age to same age comparisons at historical points in time are becoming staggering.

https://www.democraticunderground.com/?com=view_post&forum=1002&pid=15398438

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Celerity (Reply #77)

Tue May 4, 2021, 05:29 AM

78. No.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to betsuni (Reply #78)

Tue May 4, 2021, 05:44 AM

79. Yes.

The board is historically littered with OP's (and a myriad number of in-thread comments on a wide variety of subjects) slamming Gen Xers, Millennials (the favourite whipping boy on here), and even Gen Z'ers in far greater number than the opposite coming from those cohorts aimed back at Boomers.

The majority of pushback comments and OP's against this trend of Boomer lashings out on younger cohorts that I have seen come mainly from other Boomers themselves who see this as well. If other Gens attempt the same resistance, without the inherent advantage of 'in-group' validation and protection, (meaning critiquing Boomers pushing back at the attacks on other Gens are thus self-criticising their own cohort and are therefore somewhat immunised) they are often swarmed on. I have been here long enough to see that as clear as crystal.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Celerity (Reply #79)

Tue May 4, 2021, 06:15 AM

80. Historically, all generations do this.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to betsuni (Reply #80)

Tue May 4, 2021, 06:44 AM

81. not to equal degrees, at least in terms of the cohorts under discussion here

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Celerity (Reply #81)

Tue May 4, 2021, 06:52 AM

83. "cohorts"

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to betsuni (Reply #83)

Tue May 4, 2021, 07:12 AM

90. glad to see you find quantitative discourse so amusing

maybe I can work up a ontological comedy routine for your pleasure

surely a deep dive into realism, idealism, and materialism will yield a rich vein of humour and whimsy





Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Celerity (Reply #67)

Tue May 4, 2021, 07:04 AM

89. If you read my OP

Then I am a young X’er myself

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Coventina (Reply #32)

Tue May 4, 2021, 06:59 AM

87. Exactly. This thread topic is such bullshit

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 11:55 PM

33. Yes

as a Gen-Xer, I am routinely disappointed in my generation. Reagan was a fuckhead and I have no patience for people who thought he was a good guy.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Mon May 3, 2021, 11:57 PM

35. And yet, there are still more who are

Dems or lean that direction.

https://www.pewresearch.org/politics/2018/03/01/1-generations-party-identification-midterm-voting-preferences-views-of-trump/

A good percentage of every generation are assholes, because, well, a percentage of humans are assholes.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Bettie (Reply #35)

Tue May 4, 2021, 12:01 AM

37. Thanks for the stats

Like I said in my OP, it’s what I have experienced in my 40 years and I have been A lot of place and met A lot of people...but stats don’t lie so my perspective must be skewed, I have worked in a conservative occupation and probably more conservative areas

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Reply #37)

Tue May 4, 2021, 12:09 AM

40. The problem is that the really awful people

are the ones that stand out.

Assholes love to be noticed so they'll generally make sure you remember them.

That cuts across generations.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Bettie (Reply #40)

Tue May 4, 2021, 12:12 AM

43. I was about the edit my post above and say something similar

The people standing out to me now happen to be the Gen X’ers, whether that’s in my day to day life...or the people that I see on tv i.e Cruz, Hawley, Green, Desantis, etc...

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Bettie (Reply #35)

Tue May 4, 2021, 12:04 AM

38. Thank you!! n/t

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Coventina (Reply #38)

Tue May 4, 2021, 12:10 AM

41. Looks like you were right about the silent generation...lol

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Tue May 4, 2021, 12:12 AM

42. When comparing "generations" you are looking at mainly media hype

and also at shifts in attitudes at the margins.

A more conservative Gen X most likely just means maybe 10% more conservatives in that cohort compared with following ones.

Much of what defines a generation is how they are portrayed in the media. The media looks for a story and amplifies trends that may only affect a small group.

The late 1970s and early 1980s were relatively bad times economically compared to what came before and after. This alone tends to focus young adults on material gains, even if they were temperamentally inclined towards progressive views.

Personally I noticed a cultural change during the Reagan years that was very unpleasant. As one friend put it, you started seeing educated professional youth using crude racial slurs which were unthinkable a few years before.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Tue May 4, 2021, 12:31 AM

47. Well, that was the start of commercialization of movies, music, art.

Movies became series and lots of stuff to sell. CEOs and men in finance and their trophy wives were the big celebrities. Enrollment in business schools boomed. American culture got more superficial, in general.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to betsuni (Reply #47)

Tue May 4, 2021, 01:24 AM

57. I do think a lot of young guys that saw those movies and lifestyle hoped for that

and as they are now middle age and don't have those things resentment builds up.

Plus you have women and minorites doing better these days compared to what they saw on tv so that's where they put the blame.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Tue May 4, 2021, 12:57 AM

49. there may be soem bad actors

but someone kindly tell Bono, Michael stipe, pearl Jam, most rappers, and all these very anti conservative folks the memo? By the way, BOOMERS if you want to go ahead and point at Gen X, you better be preapred to focus on how many BOOMERS are in those MAGA crowds!

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Tue May 4, 2021, 01:15 AM

51. Judging my peers (we're in our late 50s) this can be attributed to right wing talk radio & Fox News

which started in the mid/late 80s when we were still in our 20s.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to tenderfoot (Reply #51)

Tue May 4, 2021, 01:19 AM

56. If you are in your late 50s

and you were in your 20s in the 80s, then you aren't Gen-X

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to kcr (Reply #56)

Tue May 4, 2021, 02:23 AM

63. Yes, I'm a boomer

that ended in 1965 btw.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Tue May 4, 2021, 01:15 AM

52. I agree that they are the most openly assholes . Many of the "racist" Boomers are just people that

grew up in a different time. Yes, many of them ARE racist but sometimes they say things which isn't meant to be hateful but it's outdated and would be considered offensive today but you know that is not their intention .

I wonder if part of the reason the group you describe is so angry and hateful is because they DID grow up in post civil rights so they think or want to think there was no racism so it makes them angry if someone complains about racism. ESpecially if they themselves are not doing well in life and they see minorites and women doing better than them.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Tue May 4, 2021, 01:17 AM

54. I know Hawley is a Xenniel and Boebert a Millennial

And much of the rest depends on where you lived. I'm X and I certainly remember protesting nuclear weapons, apartheid (we signed a petition requesting Coca Cola be removed from our high school because they did business in South Africa), etc. I now live next to a military base and the Xers here are more conservative.

We have never been as loud because we have always been the smallest demographic, sandwiched between the much larger Boomers and Millennials. Most were raised by the Silent Generation. We grew up afraid of nuclear war, afraid of AIDS, afraid of an environmental apocalypse- just afraid. And we were the generation of latch key kids who were expected to mostly raise themselves while their divorced parents worked.

For every example of loudmouths there are examples of just the opposite.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Tue May 4, 2021, 01:19 AM

55. If you keep bumping into assholes everyday maybe they aren't the assholes...

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to Devil Child (Reply #55)

Tue May 4, 2021, 07:02 AM

88. Got it

So because I run into a lot people who are MAGA hat wearing, no mask wearing, “Obama sucks” saying, “why isn’t there a white history month” saying, “all lives matter” bumper sticker having, “America isn’t racist” saying, “Merica!” Saying...,just to name a few.....I am the asshole.....screw you! You don’t know the job environments I have been in and the places I have lived where I am surrounding by nonsense everyday.

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink


Response to USAFRetired_Liberal (Original post)

Tue May 4, 2021, 06:56 AM

84. I'm Gen X. This is too simplistic and can be applied to every generation. FFS

Cannot reply in locked threads

Back to top Alert abuse Link here Permalink