Generation Screwed: Why millennials are facing the scariest financial future of any generation since the Great Depression

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Generation Screwed: Why millennials are facing the scariest financial future of any generation since the Great Depression

Generation Screwed: Why millennials are facing the scariest financial future of any generation since the Great Depression0

I am not a Millennial, but I consider this long and in-depth article a must-read.

"This is what it feels like to be young now. Not only are we screwed, but we have to listen to lectures about our laziness and our participation trophies from the people who screwed us.

"But generalizations about millennials, like those about any other arbitrarily defined group of 75 million people, fall apart under the slightest scrutiny. 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 is different about us as individuals compared to previous generations is minor. What is different about the world around us is profound. Salaries have stagnated and entire sectors have cratered. At the same time, the cost of every prerequisite of a secure existence—education, housing and health care—has inflated into the stratosphere. 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.

"This is why the touchstone experience of millennials, the thing that truly defines us, is not helicopter parenting or unpaid internships or Pokémon Go. It is uncertainty."

"You can even see this in the statistics, a divot from 2008 to 2012 where millions of jobs and billions in earnings should be. In 2007, more than 50 percent of college graduates had a job offer lined up. For the class of 2009, fewer than 20 percent of them did. According to a 2010 study, every 1 percent uptick in the unemployment rate the year you graduate college means a 6 to 8 percent drop in your starting salary—a disadvantage that can linger for decades. The same study found that workers who graduated during the 1981 recession were still making less than their counterparts who graduated 10 years later. 'Every recession,' Spriggs says, 'creates these cohorts that never recover.'"

http://highline.huffingtonpost.com/articles/en/poor-millennials/

Please leave a comment after reading the article. Thank you.

Poet

brushhog's picture
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Some truth to that

There is definitely some truth to the article but I disagree that the differences between Millennials and previous generations are "minor". Im genX. My experience of school, parenting, socializing, outdoor play,...just about everything was VASTLY different from what I see going on with kids today. I worked in the school system from 2004-2010 and I could not believe how different the kids were than when I went to school and was shocked that such a profound difference could be effected in just a few decades.The boys, by 1980's standards, were all wimps. Very few kids played outside and when they did an adult was required to be present. There was no independence, no chances to be wild, little or no breaking the rules. I think there were 2 fights the whole time I worked there and the boys were required to go through lengthy sessions talking about their feelings and etc. When I was at that age there was a fist fight almost everyday and the boys were dragged into the principles office and made to shake hands and write "I wont get in fights at school" like 200 times. Then that was it, it was over and the kids made friends and everybody went on with life.

Im not suggesting that the weakness of millennials is the reason why the system is faltering, but its sort of like a perfect storm. Failing economy meets failed school-parenting system...maybe the same root cause? Maybe the same failures that are fracturing society are reflected in a weaker generation?

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Yes, but...

Thanks for the link Poet!  I passed it to my two Millenial children along with some fatherly advice on how to deal with the world they find themselves in.

1. The writer accurately captured many of the dilemmas and predicaments Millenials are in. It's a whole different world out there than the one I grew up in.  And the problems and the uncertainty are still building to a climax.

2. I was very disappointed but not surprised when the author started talking about solutions: nearly all of them required more government control and more socialism.  And changes that individuals could and should make (personal responsibility to adapt and overcome) were hardly mentioned. I seriously doubt that government actions are where most of the important solutions lie, but even if they do I'm convinced Federal, state and local governments will rarely get any parts of it right.  In fact they created most of the problems described in the article, and now we're supposed to go to them for the solutions?! Good luck with that!

3. My old Millenials (born in '82 and '86) have followed different paths but have several characteristics in common that have helped them avoid some of the dilemmas described in the article (high intelligence, very little college experience and therefore no college debt, critical thinkers, self-starters, and prodigious work ethic, to name a few).  My tom-boy daughter ('82) spent a few years after high school finding herself and learning some skills while working (carpentry, sailing, horseback riding, and teaching).  She got married and moved to an area in the mid-West where her husband has a large extended family and where the unemployment rate is very low. They both worked two - three jobs at the same time (including making and selling stuff on the internet) and had two kids. Finally, her husband got a job building metal grain silos which pays about 90% of the median wage for about 9 months of work/year.  That has allowed my daughter to stay home with her two elementary age kids, volunteer in a church mentoring program focused on horseback riding, and keeping up with the small internet business.  However, neither she nor her husband have health insurance and the kids are covered by the state health insurance program for uninsured kids. One auto accident or other injury and they could lose it all. They are four years into a 15 year mortgage for which we provided most of the 20% downpayment. My son ('86) went off the rails at 16 and spent 11 years as an active drug addict, living on the streets of Philadelphia some of the time.  When he first got clean he applied his artistic skills and started doing tattoos for cash without a license.  He was getting pretty good and well known when he got a construction job paying $10/hour through a friend at Narcotics Anonymous.  He kept up with both gigs at the same time for almost two years until he and another friend from N.A. started their own licensed home remodeling business.  Long hours, quality work, constantly learning new skills, and honesty has them rolling in business from word-of-mouth recommendations (no advertising).  He and his fiance are renting while she works on her nursing degree supplemented by nanny work and other gigs.  He doesn't have health insurance either, though in about two years his soon-to-be wife will probably have a nursing job with health insurance for both of them.  In the meantime, he's very vulnerable to an injury or accident at work that would keep him out of work, temporarily or permanently.  They both have fought and worked through many of the issues raised in the article, and are overcoming it all, subject to certain ongoing risks.  We have helped them financially at a few points, but they are very independent and have turned down our offers to help way more often than they have accepted them.  No one can tell how this is all going to turn out, but I expect that they will persevere and succeed, again subject to certain catastrophic risks.

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I better keep my mouth shut

I was at my dentist's office yesterday getting my teeth cleaned.  The technician talked about her millenial son and how they would go into debt for at least $30k if he 1st goes to a community college for a couple of years before going to the nearby state (non-private) university.  Without thinking, and just before she was getting ready for some more scraping, I blurted out that my college tuition in Calif was zero back in the pre-Reagan 60s.  I thought I was going to get stabbed. :-)  She was definitely doing so with her piercing stare.

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Sage Advice

Coming from a bloodline where sarcasm and wise-assery (not sure if that's a word, but you get the idea) are critical skills in one's EQ portfolio (as in Emotional Intelligence), I've learned to not comment if someone has a: needle, some sort of probe (shout out to the greys/grays, my BFF's), or endoscope (among many other scary doctor-type things). It's always a: uniparty response, or hmm, that's interesting, or oh really, wow (or wow-wah) response. No problemo, mi amigo.  Nevertheless, something always manages to get through my filter.

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Denninger's all worked up about that article

And he makes some good points, if you can tolerate his "style."

https://www.theburningplatform.com/2017/12/17/you-milked-it-you-own-it/#more-166066

 

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Brush hog, It is particularly

Brush hog,

It is particularly cruel that those raised with velvet gloves have been thrown to the wolves by circumstances beyond their control. 

Some millenials will be able to maneuver through the difficulty but others will be crushed by despair. It's vital that they have a system of support, through community, involved parents -- whatever it takes. 

The f***-wit POTUS could have initiated a desperately needed infrastructure program to rebuild and repair, dams, bridges, etc...employing millions, but he has chosen to cut taxes for corporations, run up deficits and further inflate the stock market. 

Democratic socialism that creates incentives, safety nets and infrastructure jobs, while reducing military spending, is what is needed right now. 

Assuming this form of government means a loss of freedom, implies Americans have actual freedom to begin with.

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thc0655 wrote: And he makes
thc0655 wrote:

And he makes some good points, if you can tolerate his "style."

https://www.theburningplatform.com/2017/12/17/you-milked-it-you-own-it/#more-166066

 

Denninger's response to original article is histrionic.  Hysterical old men, using any excuse to excoriate the 'evils' of socialism would be amusing if they weren't such pathetic human beings. 

Next time he has a fit of the textual vapours, he might consider falling back on a fainting bench rather than embarrass himself online.  

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No argument to make?

I notice you call Denninger some nasty names but you make no counter argument. That’s beneath the standards of PP.com. 

agitating prop's picture
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thc0655 wrote: I notice you
thc0655 wrote:

I notice you call Denninger some nasty names but you make no counter argument. That’s beneath the standards of PP.com. 

Oh please!  I could counter that linking such mean spirited nonsense is beneath standards of PP, but that would be unfair to you. As far as counter arguments go?  He's a hardcore libertarian, which is almost like a religious cult, so is not participating in reality.

The idea that older millenials brought the economic nightmare on themselves by subscribing to Netflix and purchasing things on Amazon, (when they were younger) is bizarre.  The new waves of technology were sold as a means of freeing up drudge work so people could create more meaningful employment for themselves or be hired by movers shakers and innovators. Denninger thinks that younger people were equipped to override the assumptions of their parents? 

Sorry if I personally offended you.  I didn't mean to. I just cringe at the ham fisted approach of those, like Denninger, who are incomplete in their humanity. 

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I agree with agitating prop

Denninger writes as if the millenials just emerged out of nowhere as some defective, utterly foolish cohort a few tens of millions in number, like their parents and grandparents had nothing to do with it, like the cycles that seem to have naturally influenced human history (think The Fourth Turning) for a long time aren't real, like the 3 E's have nothing to do with it.

At one level, we're all to blame.  At another, none of us are - the problem is so much bigger than us.

Denninger offloads all of the blame onto an entire generation that doesn't include him.  How convenient if you don't want to look closely at yourself and  your beliefs that have ossified over a life time.

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denninger's healthcare reform

Denninger is a crank, so his presentation is likely to be really abrasive - he's a terrible persuader - but he has some very specific suggestions on how to improve things, and many of them make sense to me.

For instance, I think Denninger's suggestion that we "reform" healthcare by forcing the hospitals to have price lists that apply to everyone (kinda like every other industry is required to do - you don't get charged varying prices for your tee-shirt at Macy's depending on who is paying for it) is a fantastic idea.  It won't fix things by itself, but life becomes a lot easier for the cash buyer, because they don't get gouged at a time when they aren't exactly able to comparison-shop.

Having been a cash "healthcare buyer" in other countries where hospitals have price lists, and where these questions are relatively routine - it was incredibly disturbing when taking my mom to a hospital in America.  I asked what the price for something was, and it caused quite a stir.  You aren't supposed to ask about prices.  If I were stronger, I would have stood there and said "we aren't going anywhere until I get a price list for these procedures."  After all, we're paying for it!  But you know - with sick mom in tow, you aren't exactly in the best position to execute a free market protest.  So Denninger is advocating for "consumer protection" in healthcare.

Likewise, his point - also about healthcare - is that if as a society we want to cover pre-existing conditions, funneling the money first through insurance companies is just stupid.  "Libertarian" Denninger is arguing for single payer - because in his analysis, its way cheaper than the system we have now.  It was the most logical, common-sense, non-political argument about the issue that I'd ever seen.

He's a smart guy, and has interesting things to say, but he is definitely a crank, and so you need to apply a filter to what he's saying so you can extract the value.  That's what Tom meant when he talked about "style."

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CHANGE HAPPENS

Aloha! Instead of the more well known "sh_t happens"!

As a 20 something in the 1970s I was told to work hard and save! Every generation gets some amount of "flawed" advise, because CHANGE HAPPENS! I pity those who took that advise to heart and saved as much as they could. Now they get $26 a month for their efforts from banks. So now babyboomers have to work longer and millennials have less jobs available.

The flaw of the article is that when prices rise everyone suffers in some manner, not just the younger generations. If you sell your house with the $2mil door knob in Malibu in order to down size you're stuck having to pay 30% in taxes and then buy a condo with a $1mil door knob and $1500 a month association dues and $2000 a month property taxes if you want to enjoy living in the same area. If not you move to Texas and buy the $500k door knob and you wear a cowboy hat and boots and give your beach towel, tennis racket and mai tai to Goodwill! Then you wave goodbye to your neighbors and friends because they won't line dance! No way!

If you stay in Malibu your $5 Mediterranean salad in the 70s is now $30! Rising prices force babyboomers to work longer, so the job market and upward mobility to the higher exec jobs is limited for millennials and Gen Xers so long as the babyboomers stay in their jobs longer.

Bottom line is "government"! Government has always been corrupt. It is the nature of government because that is the nature of humans. We compete against government for resources. We compete against government for our paychecks. It is US vs THEM! They need more of your paycheck throughout your lifetime not less. Either government grows and prospers or "we" do. So far government WINS!

In my time the government con jobs was Vietnam, something tangible and real. In this era it seems like intangibles rule government cons ... like climate and socialism and gender and pc! If you hold those things dear then your government will be more than willing to make sure you are taxed the proper amount to remain in servitude for a lifetime. Debt is their weapon!

My advise to Millennials? QUESTION AUTHORITY ... no matter if it is your government or your college professor or your favorite blog! There are no experts. There is no savior. There is only you and a vastly changing world that cares not for your feelings! Every generation has faced the same challenges from very similar changes.

One personal note. I have found that there are Millennials with awesome work ethics but that was a long wait. Perhaps it is just more of the same. Youth is always unstable and rebellious. As I have heard "youth is wasted on the young"! But that's not news either!

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Millennials

FWIW: Millennials often shoot their own foot, by getting a college education in a career that is not in demand (ie Liberal Arts) or a career for an industry that is in decline as Technology, Automation or Outsourcing progress such as legal. Millennial are also too pre-occupied with Social media, smartphones which almost makes them unemployable. The only places I see employed Millennials is in retail jobs. 

The cost of College education is risen because of gov't interference, by making it easier for Students to get loans and also making them not discharable in bankruptcy. Colleges had poured billions into there campuses and providing luxury accompidations & services comparied to previous generations. When I visited my college it has completely been transformed. Every classroom building was completed gutted and redone with fancy trim & flooring, and most of the buildings had a coffee shop offering $5 lattes. 

I don't think the older generations will fare much better. Few Boomers have sufficient retirement savings, and are dependant on gov't entitlments to get by. I see Boomers working well into their mid to late 70's because they cannot afford to retire. 

I very much doubt the debt will be paid. Central banks will simply continue to print money to float the system until people loose confidence in currencies. Many Boomers/Gen-X that have pensions are likely to be rudely informed their pensions plans will be unable to honor their promises. I doubt anyone that is alive today will get a free pass that avoids pending hardships.

 

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davefairtex wrote: " I think

davefairtex wrote:

" I think Denninger's suggestion that we "reform" healthcare by forcing the hospitals to have price lists that apply to everyone"

The issue is that unless the consumer is paying the bill there is no reason for the consumer to care about the costs: The OPM (Other people's money) syndrome. If the Health Ins. company is paying the bill than it really doesn't matter to the Patient how much it costs. 

The Other issue is lack of personal reponsiblity to take care of themselves. In the US, the Obesity rate is approaching 40% of the population. The Majority of people drink too much, eat mostly processed foods, and take prescriptions in order to combat their poor health habits. 

In my opinion we are already past the point of no return do to the poor state of heath of most of the population. You can't fix 30-50 years of poor health habits, the damage is already done. Odds are that the current Healthcare system will collapse in the next few years as health Ins premiums become unaffordable for the middle class. A household making about $53K/year isn't going to able to pay $30K+ per year health ins. premiums. Companies that are mandated to provide health ins are likely to outsource, automate and shift workers to part-time to avoid healthcare costs, which in some cases are now starting becoming higher than salary costs for lower wage workers.

My guess is that the US will end up with a single payer health care systems that will cap costs by delaying treatment (ie waiting lists) and denying expensive treatment, similar to European & Canada does. I recall reading a news story a couple of years ago that a double leg amputee was denied an electric wheel chair because the gov't health dept didn't think the patients conditions (amputation) was permenant. In the UK, Recovered patients are delayed being discharged up to six months since it cheaper for a healthy patient to occupy a hospital bed than its to emit an another patient that needs an expensive medical procedure.

As the Most interesting man (not Denninger) may say in future commerials: Stay healthy my friends!

 

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cash buyers

Tech-

Right now, its simply not feasible for people to walk in and pay cash for their medical care.  Its just asking for personal bankruptcy, because the hospitals charge the absolute highest prices to walk-in "customers" and normal people have zero negotiating leverage.  Its really obscene.  And the healthcare industry is the only "product" where this is permitted.  Even auto-repair shops are required to give you an estimate before they fix your car.  Not hospitals.

Hospitals can simply present you with whatever bill they like - with whatever prices they decide to charge you - once everything is said and done.  There are no "list prices"!!  This is fair in what universe?  Cars are treated better than people!

Do we imagine the insurance companies like this state of affairs?  You bet they do.  All us middle-class people are all required to have insurance.  We just can't take the risk because of the structure of the system.  Its utterly perverse.

Other countries are not like this.  Of course they have waiting lists for expensive procedures, but remember, they serve their populations for 1/2 the costs that we pay.  And everyone is covered.  And normal things that happen in daily life get taken care of.  People don't live in fear.

All the horror stories you read about - who benefits from these stories?  I'm guessing that some number of them are constructed by the healthcare industry, who absolutely do not want their gravy train cut off.  And we just keep falling for their propaganda.  Cui bono?  Them, of course.

Overall, other nations have longer lifespans than ours, healthier populations, and better outcomes.  The numbers suggest that the stories you talk about do not represent the vast majority of outcomes from such a system.

The "general public" is better served by such a system.  Certainly if you have an "interesting problem" you are probably screwed.  But most of us don't have interesting problems, we have normal ones.  And right now, it is costing us 18% of GDP to get those problems covered - twice the price paid elsewhere.

The free market only works if consumers have choices.  If people could still pay cash for services and get charged "normal list prices", a lot of us would roll the dice and do so.  This would force the insurance companies to be more competitive.   They would no longer have a captive audience - which they certainly do now.

We are all of us living in fear, clinging to insurance, because we know that the fastest route to bankruptcy is a medical problem if you don't have insurance.  The insurance companies LOVE this situation.  Their product went from optional, to required.  Its great to sell a "required" product.  And that's a direct result of hospitals gouging cash buyers - simply because, unlike used car dealers and auto-repair shops, they are permitted by law to do this.

I wonder who it was that wrote the law?  I mean - who REALLY wrote the law.

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Two comments

First- as a long time high deductible health insurance user I found out that doctors and clinnics do negotiate lower fees or alternate approaches to treatment if you pay up front. Many act surprised that you want to take this approach but soon are willing to go ask their business manager. Last negotiation saved me $1000. I opted for Xanax over IV sedation.

Second point- I get irritated with all the finger pointing at our up and coming young adults. From my perspective we have hit peak-economy-peak energy-peak environment-etc. In ancient times we see the Huns and other migratory cultures venturing into and toppling much more sophisticated cultures primarily because of climate change. When a top gun culture hits peak as ours is doing then the adaptive and flexible survive. Those who can recast themselves as immigrants within their own culture will find places to thrive. However, those who cast their lot with and appeal to TPTB (who are fully vested in a crashing vehicle) will be shackled to the failing culture. As a member of an older generation I will fail in whatever chances given to me to help if I stay shackled to what worked 30 years ago. Planting new and more reasonable expectations in my own extended family is my most effective path at present.

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Not Holding My Breath

Being a part time community college lecturer, whose younger students are now coming very close to the age of my oldest grandchildren, I get to discuss life issues with millennials on a fairly regular basis.   Teaching at a public institution, my students are not the ivy league, upper middle class snowflakes attending the ultra expensive, elite institutions. Many are veterans trying to get the most education from their benefits, other are years out of high school and already have jobs, children, responsibilities.  A fair number are immigrants taking advantage of opportunities their parents never had.  Generally they are no different from the twenty to thirty-five year olds of other generations. They worry about the future, but they are focused on paying the rent, advancing in their employment and in creating a place for themselves in this crazy and often unintelligible society.

Our primary and secondary educational system being what it is, many have little sense of history, economics or even politics. In the quest for test scores and quantifiable educational criteria, critical thinking and analytical skills have not been developed. News comes only from twitter or social media. The political world is populated by old people and often seems to be unconnected from daily life. Many have watched their parents suffer from the economic vicissitudes of the last decades without any understanding of why this was happening.  Lost jobs, lost retirements, foreclosures have been close and personal family experiences. Wages are too low, rents, real estate, health insurance, new cars, are too high. The combination of these factors has left many of them unimpressed with and somewhat skeptical of the existing structures. Their emphasis turns to getting along and trying to live as best they can.  Which is probably not too different from any generation. It should not be a surprise that a number of them, with limited understanding of socialism, look to it as a desirable substitute for the present system.

When the discussion turns to economics and the future I often joke with them that I do not believe I will live to be ninety, even though that is fairly common in my family.  I tell them that right now they are naturally focusing on establishing their own lives but that at some point in their forties or fifties they will begin to have a better sense of the world around them and why things are the way they are.  Their generation will come into power and will get to examine up close what the prior generations have done. I share my belief that when they discover how we baby boomers have manipulated and f......ked up the system to satisfy our own greed and entertainment there will be a groundswell of support for mandatory euthanasia.  They will not be amused with the world we have created for them, nor will they have any desire to forego their own life requirements to perpetually support us in the manner we have come to believe we are entitled to.

JT  

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discount for cash

That's great to hear that its possible.  I've heard otherwise from a family member who paid cash for a hospital visit.  He was appalled at the prices he was charged.  There didn't seem to be any flexibility.

I certainly couldn't get prices out of the hospital that my Mom was going to.

I guess its a YMMV situation.

"It doesn't hurt to ask."

 

 

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Cash discounts for medical care

My only experience with negotiation has been outside of the hospital environs. My last visit there was over 50 years ago when my mother checked me in for birthing. Many do not have that kind of avoidance of hospital stays record. Hospitals are formidibly large operations and often have you over a barrel when you show up at their door.

I have talked to a few who are on the post hospital visit payment plan. Apparently one can negotiate a very longterm discounted payment plan. This is an after the fact deal and probably also involves the loss of an arm or first born child. Nobody has shared all the details.

I also know of more than one young family who ended up declaring bankruptcy as a way to manage health care costs. In that situation a homestead with your savings stashed in your perennial fruit and nut trees is much safer. In this state your primary residence is protected in a bankruptcy.

Negotiation is worth trying. Insurance plans negotiate all the time. As a former boss used to tell us employees:"You won't ever get something you don't ask for." Not always true but it sure applies here.

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Me neither JT

Many have watched their parents suffer from the economic vicissitudes of the last decades without any understanding of why this was happening.

I thought this sentence was important. What I see lacking in so many people, and certainly not exclusive to Millenials, is a lack of curiosity about 'why' things are as they are. We have mentioned many times on this site how hard it is to get any traction in discussing the 3Es and related issues. I attribute this partly to a generalized loss of curiosity in personality traits. It seems few people want to dig deeper to find out more or seek answers to the 'whys', especially if there is no immediate threat. This also ties in with, as someone else mentioned, the loss of problem solving and analytical skills. Without having an inherent sense of curiosity, those skills, even if the abilities are present, will always be underutilized.

Perhaps this also ties in with another generalized statement about Millenials, that they are lazy and have had everything handed to them. That may be more a symptom of a potential root cause, which was that a healthy level of curiosity was not cultivated as they were growing up. "Googling" something or going to Wikipedia to learn more about something is the new baseline for curiosity, but how many diligently take it further, drilling down deeper to get to the real 'why' of things? I surmise not many, for attention spans are seemingly limited to how fast one can read the search results before switching back to social media, so at to not miss out on any updates!

Each generation is shaped by and responds to the era it finds itself in. When one is born into an era of plentiful resources and jobs, one generally goes with the flow, as did the boomers (and I am a tail end boomer). Millenials as I see it are between a rock and a hard place. They know the largesse that their parents and grandparents enjoyed, and they want it for themselves and their families. Who can blame them? But unlike the previous generations, it is not a given that will happen, and in fact is unlikely for most of them. To add to their woes, we are leaving them with a beat up, polluted planet with rapidly dwindling resources. Their futures, and that of their offspring, are bleak. I certainly can't blame them for being pissed off...

Absent in all of the last few generations was the all important curiosity to ask questions about what they were doing and what the implications of those actions might be. But we as a species are not very good at forward thinking, nor are we very good at being selfless. Instant gratification rules, future generations and cost-benefit analysis be damned! This will not change until we become curious enough to add critical thinking proactively to our actions/proposed actions. Some of us try, but obviously not enough to get us out of the big pickle that we collectively are in...

There are no solutions, just managed strategies. All generations will need to have their own strategies based on the era/generation they are in. It's not fair, to be sure. It just is. Those are the cards you are dealt when you are born. Blaming each other for screwing things up will not change that.

Jan

 

 

aggrivated's picture
aggrivated
Status: Platinum Member (Offline)
Joined: Sep 22 2010
Posts: 560
Teaching curiousity

Jan

Your comment that using Google is the limit of curiousity rings true. My grandson was recently struggling with a concept in algebra. His teacher's help consisted of, "Just Google it". Thankfully in this case his parents took the initiative to get him moved to another class with a teacher who is teaching students the process of solving and answering questions. At a minimum the who what when why how ?s must be asked.

Thanks for your comments on this 'generational dilemma'.

treebeard's picture
treebeard
Status: Platinum Member (Offline)
Joined: Apr 18 2010
Posts: 618
Future generations

Thanks Dave for weighing in the obscene medical system, I couldn't agree more.  I do like listening to Denninger, crank though he is, he is correct in his analysis of the medical system, it is helping to bankrupt our economy.  How many rackets can we support (I agree with Kunstler there).  I do feel like we are turning into a nation of used car salesmen.

It is somewhat interesting to analyze people based on generational characteristics, but I think it would be pretty safe to say that I have a lot more in common with my two millennial sons then they have with those in the to top 0.1% who are their age.  Not expecting any changes in the morally bankrupt and utterly corrupt politico/economic system based on a "generational" change.

There are changes afoot for sure, that are affecting people of all age, ecological awareness, a younger generation interested in going into farming ( I am always stagged when I hear the average age of a "farmer" in this country - 58.3!), greater political awareness and growing frustration, intense interest in alternative energy sources, etc..

Best debate I have heard around Libertarian fundamentalism, this is between Stefan Molyneux and Paul Craig Roberts.  Not as long as the tape says, worth a listen, it starts to repeat sections half way through.  Someone needs to cheer Paul up, never seen him so down, have been listening to him for a while.  Does the best global political meta analysis I have heard:

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