Bad coffee isn’t keeping Millennials in debt

http://www.slate.com/articles/business/the_united_states_of_debt/2016/05/the_latte_is_a_lie_and_buying_coffee_has_nothing_to_do_with_debt_an_excerpt.html

It’s the economy, stupid.

Too late for  Thanks, Obama?

scoff skarsgard

I’m sure they’ll be happy to know most of their money is going to the people running them over.

They don’t know yet, but my, won’t it be fun when they find out?

Whaddaya mean I don’t get a pension but that inbred family of eleven is fine??? I paid for that, that’s my money!

Libertarian conversion complete.

Deus vult in under five minutes.

Guardian starting to leak Gen Y betrayal data

Fence-sitting and refusing to blame Boomers though.
In full because it’s them.

http://www.theguardian.com/world/2016/mar/07/revealed-30-year-economic-betrayal-dragging-down-generation-y-income

They’re trying to use us to turn us onto their demos and other activism, but that activism is in the Boomer’s interests.

Exclusive new data shows how debt, unemployment and property prices have combined to stop millennials taking their share of western wealth

The full scale of the financial rout facing millennials is revealed today in exclusive new data that points to a perfect storm of factors besetting an entire generation of young adults around the world.

A combination of debt, joblessness, globalisation, demographics and rising house prices is depressing the incomes and prospects of millions of young people across the developed world, resulting in unprecedented inequality between generations.

They’re so close to calling it what it is, oppression.
Inter-generational apartheid.

A Guardian investigation into the prospects of millennials – those born between 1980 and the mid-90s, and often otherwise known as Generation Y – has found they are increasingly being cut out of the wealth generated in western societies.

Why the sudden change?
And who by, hmm?

Where 30 years ago young adults used to earn more than national averages, now in many countries they have slumped to earning as much as 20% below their average compatriot. Pensioners by comparison have seen income soar.

The jobs were taken by immigrants, weren’t they?

In seven major economies in North America and Europe, the growth in income of the average young couple and families in their 20s has lagged dramatically behind national averages over the past 30 years.

In two of these countries – the US and Italy – disposable incomes for millennials are scarcely higher in real terms than they were 30 years ago, while the rest of the population has experienced handsome gains.

It is likely to be the first time in industrialised history, save for periods of war or natural disaster, that the incomes of young adults have fallen so far when compared with the rest of society.

ugh why no please stop god kill me now rdj tony stark

Idiots. They think all their social engineering spending isn’t taking money from their own pockets.

Experts are warning that this unfair settlement will have grave implications for everything from social cohesion to family formation.

A lot of people are predicting…

Hugo Boss SS origins

go on moss popcorn

A two-week Guardian project, supported by the Joseph Rowntree Reform Trust, aims to explore this predicament in depth and ask what can be done.

They won’t really do anything, they wanna help the outgroup.

Using exclusive data from the largest database of international incomes in the world, at LIS (Luxembourg Income Study): Cross-National Data Center, the investigation into the situation in Australia, Britain, Canada, France, Germany, Italy, Spain and the US has also established that:

  • Prosperity has plummeted for young adults in the rich world.

  • In the US, under-30s are now poorer than retired people.

  • In the UK, pensioner disposable income has grown prodigiously – three times as fast as the income of young people.

Voting bloc.

  • Millennials have suffered real terms losses in wages in the US, Italy, France, Spain, Germany and Canada and in some countries this was underway even before the 2008 financial crisis.

“The situation is tough for young people,” said Angel Gurría, secretary general of the west’s leading thinktank, the Organisation for Economic Cooperation and Development (OECD). “They were hit hard by the Great Recession, and their labour market situation has improved only little since.

“This is a problem we must address now urgently. Kicking it down the road will hurt our children and society as a whole.”

really…

Gurría said there had been a shift since the mid-80s in poverty rates, which started to rise among younger cohorts while falling among pensioners. However, the world of barren opportunities facing today’s young people should be of concern to all age groups, he added.

The way I’ve heard it from Boomers: who cares, I’ll be dead.

Aragorn for president

“Current working-age, middle-class groups are increasingly concerned with their and their children’s job prospects. An increasing number of people think children in their country will be worse off financially than their parents,” he said.

You brought in competition. Global competition.

Using LIS’s household survey data, the Guardian examined the disposable incomes and wages of young families in eight of the 15 largest developed economies in the world. Together these countries made up 43% of the world’s GDP in 2014.

These surveys, carried out over decades, are intended to pick up what is happening on the ground in people’s homes, and are the best way of distillingdomestic realities from governmental level data.

The data accessed by the Guardian found that in the US, France, Germany, Italy and Canada the average disposable income of people in their early 20s is more than 20% below national averages.

For the first time in France, recent pensioners generated more disposable income than families headed by a person under 50. In Italy the average under-35 became poorer than average pensioners under 80. Using the most recent US data, in the midst of the downturn in 2013, average under-30s had less income than those aged 65-79. This is the first time that has happened as far back as the data goes.

At least we’re writing the history books.

Millennials interviewed by the Guardian said they felt their generation was facing far greater hurdles to establish themselves as independent adults than previous generations did.

…Londoner Tanaka Mhishi, who works in a bookshop, adds: “I definitely think in a lot of ways my parents’ generation was luckier. They had a lot more freedom to do things younger: they were able to go straight from university and move to London and afford their own flat….

High time preference people need to go away and leave us in peace

No comment.

Several economists told the Guardian that policymakers should do more to even up the balance between young and old to avoid economic stagnation.

Civil unrest. At the moment we’re practically on strike (savings, pensions, family, welfare).

Paul Johnson, director of the Institute of Fiscal Studies, said he feared intergenerational inequality would fuel wider inequality in society because youngsters with rich parents would retain such an unfair advantage in the important years of early adulthood.

They’re still trying to blame rich people.
Newsflash: YOU ARE THE RICH PEOPLE.

…For the next fortnight the Guardian will delve into the fortunes, feelings and finances of the developed world’s young adults, as well as looking at fallacies surrounding them.

They must be forced into releasing this, God knows I’ve tried to bring this to Guardinistas attention, maybe the message sank in after all?

In our series, we will reveal that today’s young people are not delaying adulthood because they are – as the New Yorker once put it – “the most indulged young people in the history of the world”. Instead, it appears they are not hitting the basic stages of adulthood at the same time as previous generations because such milestones are so much more costly and in some cases they are even being paid less than their parents were at the same age.

Our elders are criticizing us because we see past their BS.

See best post.

In Australia, millennials are being inched out of the housing market. In the UK, new figures will show the notion of a property-owning democracy has already been terminated. In the US, debt is the millennial millstone – young people are sitting on $1.3tn of student debt.

Across Europe, the issue centres more around jobs – and the lack of them. The numbers of thirtysomethings still living with their parents is stubbornly high in countries such as Italy and Spain, with grave implications for birthrates and family formation in places whose demographics are already badly skewed towards elderly people.

“We’ve never had, since the dawn of capitalism really, this situation of a population that is ageing so much and in some countries also shrinking, and we just don’t know whether we can continue growing the economy in the same way we once have,” said Prof Diane Coyle, an economist and former UK Treasury adviser.

None of these people would even pay lip service if they didn’t doubt the gravy train.

Other articles like this: http://www.theguardian.com/world/2016/mar/07/generation-y-pay-price-baby-boomer-pensions

dis gonna be good anticipation pull up a chair listen watch

The Left is eating …the young.

Boomer bankers ask Did we ruin Millennials? Answer no.

Predictably, because they’re allergic to responsibility.

I’m onarollagay today.

https://www08.wellsfargomedia.com/assets/pdf/commercial/insights/economics/special-reports/millennial-student-debt-20151217.pdf

We find that young households’ student loan burdens, while growing, still look quite manageable given longer repayment terms and lower interest rates. That said, longer repayment terms mean Millennials will have to grapple with student loan payments later into life, while there are also troubling signs that a rising share of college graduates are not making any payments.

And this is just student debt, hilariously, like that’s all we have to contend with. The UK system is becoming like the US and the overall systems do mimic one another. But wait, there’s more!

Here’s an infographic, like we’re too dumb to read a report without pretty pictures attached.

http://www.goldmansachs.com/our-thinking/pages/millennials/

“Lower employment levels and smaller incomes have left younger Millennials with less money than previous generations.”

“Student loan payments are taking up a growing chunk of postgraduate Millennials’ income.”

“With less to spend, they’re putting off commitments like marriage and home ownerships”

Problem? I see no problem here?
I covered the priced out of parenthood angle here.
It’s an impossible system. It is literally unsustainable.

crying laughter lmao

“The percentage of young people married and living on their own has dropped by more than 50% since the 1960s.”

Boomers wanted the Sexual Revolution, they got it.

“Millennials aren’t just putting off marriage. They’re also waiting longer to have children.

They’re gonna be so healthy. Despite all the anti-natal propaganda.

“Millennials may be putting it off, but polls have shown they do want to have their own families some day.”

~70%. Some day. Like a fairytale. A financial fairytale. They omit this motivation factor because it requires the dreaded R word.

“Millennials have been reluctant to buy items such as cars, music and luxury goods. Instead, they’re turning to a new set of services that provide access to products without the burdens of ownership, giving rise to what’s being called a “sharing economy.””

That is the vague sound of panic from GS with stock in the supply side of the economy.

“The must-haves for previous generations aren’t as important for Millennials. They’re putting off major purchases—or avoiding them entirely.”

You can almost hear them sweating. Did they invest in that overvalued property portfolio for nothing?!

“A growing percentage of older millennials are choosing to rent, not buy.

Sure, that’s our choice. Whatever.

“Quality is still key for Millennials, but price is a more important factor than it is for other generations.

Keep outsourcing to China.

We have the moral high ground too.

“For Millennials, wellness is a daily, active pursuit. They’re exercising more, eating smarter and smoking less than previous generations.”

And also we can’t afford it.

Good food is literally the only luxury we can afford. We were raised on the steady stream of news that everything causes cancer. Why do you think they’re trying to force GMOs? Price control. Price fixing. A monopoly on the only thing Millennials are willing and must spend more on.

“The Millennial generation is the largest in US history and as they reach their prime working and spending years, their impact on the economy is going to be huge.”

As for the parenthood question.

http://www.ibtimes.com/millennials-student-debt-means-postponing-life-events-marriage-home-buying-2040044

Horse’s mouth.

The rich kids know something we don’t.

http://www.ibtimes.com/millennials-money-young-people-save-paychecks-predict-financial-crisis-survey-finds-2012169

I know a prep when I see one.

You’ve heard they’re lazy and entitled, but a recent survey added “forward-thinking” and “predicting a financial crisis” to the ever-growing list of millennial characteristics. The survey, conducted by LinkedIn and marketing firm Ipsos and released Thursday, found that two-thirds of wealthy 18- to 34-year-olds saved at least a quarter of their paychecks every month — possibly because 59 percent of them said they were anticipating another event like the Great Recession.

What gets me is, they think in a collapse, their savings would be safe?

They're so stupid it's a laughriot

What could explain this?

However, at the same time, young people were more likely than Gen Xers to say they were confident in the country’s continued growth. Almost half of affluent millennials surveyed were optimistic about the future economy, with 44 percent saying they believed the American Dream was “definitely possible.”

Cognitive dissonance.

They're so stupid it's a laughriot

The richer Gen Y also lack common sense. There is a God. The OWSers will lose their inheritance.

I leave you with glad tidings.

luckyattitude.co.uk/millennial-characteristics/

Read from “Millennials are Civic-Oriented”

It’s status signalling, it’s all signalling. The champagne socialists will lose everything.

I love it when tyrannical stupidity backfires

In case you think I’m being mean, here’s the IQ delusions we’re working with.

PwC Millennial survey (2015) revealed that British female Millennials are the most confident and ambitious of any female generation. 49% of them starting their careers believe they can reach the very top levels with their current employer.

Half (1 of 2) think they’re top performers (1%) regardless of evidence. Someone call the Dunning-Kruger people.

And according to a November, 2008 Pepsi Refresh Optimism report found that 81 percent of Millennials chose the word “hopeful” to describe their feelings about the future, 65 percent chose “optimistic” and 57 percent chose the words “confident” and “excited”.

Millennials have been raised to believe that we can accomplish anything. Our parents, teachers, coaches and all adults who have been a part of our lives, have drilled it into our heads that “if you believe you can achieve it, you probably can.”

That’s not a good thing. That is psychotic. That is literally magical thinking.

Our sense of “specialness” is what drives our confidence. It isn’t an individual confidence that fuels this attitude, it is a collective confidence.

Safe spaces.

We just aren’t letting these immense challenges that we have before us dampen our spirit. Instead, we are becoming increasingly determined to work together to solve these problems. We really do believe that things will get better.

They seem to be saying these things more to convince themselves than the reader.
I think these yuppies are full of it, Wait But Why was on the money.

Who says Millennials don’t have blind faith?
All I see when I look around is blind faith in a broken system. It’s quite astounding.

For example, assume the Boomers manage to sell off 100% of their retirement stock to Gen X at the price they desire. Gen X hold this and expect to sell it down again. How are Millennials meant to afford it, twice inflated already? None of this makes mathematical sense.

The real Millennial Woes – student debt, homeless, priced out of parenthood and no pension

I will cover the last two here because tuition and Generation Rent you already know about (or you can look up).

They’ve been raised on the statist teat since nursery school – why change now? I keep trying to draw attention to how Gen Y is uniquely being fucked over but few people seem to be listening. The result will be the hardest of redpill resets but I’d rather avert disaster personally. Every single time I say something, I get the blithe reply But The Government Wouldn’t Lie to Us! Like tripling tuition when they promised they wouldn’t and the rich even got it for free, you mean? Those people? Beautifully, they’re using SJW logic against us, their Party Line on cuts has been ‘If it can’t be Equal, it will be scrapped.’ Think on that.

Gen Y will not retire. You think you will, but unless you’re rich, you are wrong. They haven’t explicitly promised us anything, have they, it’s obfuscation, smoke ‘n mirrors to pay into the Boomer’s pot. I can see it now…

First they ‘warn’ us about age hikes, then when we near that age they pull the rug out and say ‘there’s no money left’ like they aren’t sitting on a gold-plated pension themselves [Merkel] and shrug with open hands they recited as a gesture of honesty as they blame ‘the stock market’ they chose to invest the pension pots into. At this rate, you’ll be able to cash it in for 6 sunny months at a reduced rate before doing your civic duty and dropping dead. Maybe if I cite the Guardian enough times the Lefties will finally fucking listen?
http://www.theguardian.com/money/2016/mar/01/state-pension-age-could-rise-faster-than-expected-say-experts

“The new review, led by John Cridland, the former head of the CBI business group, suggests this timetable could be speeded up even further so young and middle-aged workers will have to wait even longer than to retire. The Office for Budget Responsibility has forecast that on current trajectories of life expectancy, the rate could reach 70 by the mid-2060s.”

Average lifespan of men is about 73.

Long slow white genocide in progress, creating conditions where raising a healthy nuclear family is practically impossible. Clarey once covered how the American education system screws over women during peak fertility but our system is much, much worse.

http://www.theguardian.com/lifeandstyle/2015/nov/14/babies-an-impossible-dream-the-millennials-priced-out-of-parenthood

Jealousy towards baby boomers is an everyday occurrence. You’ll be sitting in a bar with friends and hear them lament the fact that their parents had bought a house by the time they were 27. “My mother had already had me and my sister by the time she was my age,” one friend said gloomily when the subject came up. Generation Y – or millennials, if you must – are still often portrayed as existing in a state of perpetual kidulthood; we’re Peter Pans who never want to grow up. Yet many of us are desperate to do so.”

Everyone I spoke to for this article felt a responsibility not to bring children into an environment that was economically precarious; but I wonder how long people are willing to sacrifice future parenthood because of this. If we all go ahead and have babies anyway, what will be the consequences for the state? It’s ironic that a government so ostensibly dedicated to notions of “family” is giving little help to those who desire nothing more. Communal living is already a reality for many people, as overcrowded houses and boomerang children demonstrate. Do we all just need to learn to live with other people’s babies?”

I hope this clusterfuck comes crashing down soon, it can’t happen soon enough for Gen Y. Sub-replacement fertility is indeed a ticking time bomb, but we didn’t build it, fuse it, or set it. Those currently in power did!
All the responsible couples I know can’t even afford to get married, let alone breed. And the Governments have the temerity to say it’s our fault (when there are record-high taxes on the poor) and we must bring in immigrants? Must, really? And why can’t we put those resources into our own people, eh?
This is why Europe’s below replacement level. Personal debt. Quit blaming us for the system Baby Boomers and Gen X fuckwits voted in. They say they care, but they continue to push up rent costs, don’t they? I know people being charged rent by their own nouveau riche parents. Parents who then go on to pester them about… you guessed it, marriage and grandchildren. What do they spend the money on? Cruises and skiing holidays. Fuck them and fuck this for a game of soldiers. All this on top of national debt. Which generation is paying for that, do you think?

TLDR: The European financial system has already crashed, we just don’t know it yet.

superman drinking give up nope

Video: Why hasn’t the economy collapsed yet?

I wish we had a UK version of him.

Our system is so incestuous and messed up we can’t even pay him to consult on it.

Basics like, where are most of our laws made? Nobody is 100% sure. Probably about 70% EU from the data I’ve seen. Do they really count? Nobody knows. What happens when the blimp goes bye-bye? Your guess is as good as Merkel’s. Who will join the planned EU army? Aliens?

We have various players like IMF and Deutsche Bank and then there’s radar black spots like Switzerland and whoever knows what the hell they’re doing, Europe is a big banking mess.

However, the points on inflation and Millennial expenses and Government programmes translate well. It reminds me of Stefan’s dour presentation on the British economy from the “there will be no recovery” series. I wish they could team up on that, can you imagine?

There is no free money.

I’ve tried to explain to Millennials, and that generation will be easiest to wake up (tuition fees), that every £1 spent on an immigrant (or foreign European) is one taxed from them. They don’t believe me. These people also pay into workplace pension schemes they won’t be able to cash out and bought Facebook IPO stock, so I wasn’t surprised by this. The cumulative effect is one of a serf class, where they restrict their own lives – moving out, marriage, children, to fund those who have all those things handed to them because otherwise the council workers will get called ‘racist’ and these people act like babies, incapable of self-sustenance and refuse to put food on the table.

UPDATE: http://uk.businessinsider.com/bank-of-england-executive-director-for-financial-stability-alex-brazier-on-fund-liquidity-2016-2

The people doing this will probably be fine, that’s the part that gets to me.

superman drinking give up nope

Millennials can’t afford to grow up and have kids

It’s completely true. We aren’t feminists who want a demeaning career. The good men can hardly find a decent job to support themselves. Boomers took all the houses and our parents the free education. We’re collectively broke, for debts we didn’t run up.

http://www.theguardian.com/lifeandstyle/2015/nov/14/babies-an-impossible-dream-the-millennials-priced-out-of-parenthood

…These hurdles to the world of adulthood continue to be a great source of sadness and anxiety, and I’m not alone. For swathes of people in their 20s and 30s, who largely thought they would be at least a bit sorted by now, achieving the adult lives they want seems a distant fantasy. Spiralling property prices coupled with the fetishisation of housing as an investment – expressed through buy-to-let properties and often poor rental conditions – means secure housing is off the table for many of us as we continue to subsidise our much richer landlords. The average price for a starter home rose to £211,000 this year, requiring an average deposit of 17%, or £36,000. The recession, unstable and unreliable unemployment, low pay compounded by a pensions shortfall and an ageing population, have all led to a situation in which many members of my generation feel not only short-changed, but helpless when it comes to building some semblance of a stable family life. While our generational predecessors, the baby boomers, reaped the rewards of free university education and affordable property prices, we have been disproportionately affected by austerity….

Austerity is a myth, Government spending and national debt are rising, but immigrants get free housing, healthcare, money and fully funded children.

…Andrea wanted to remain anonymous, as did most of the people I spoke to, for various reasons. Generation Y are used to being accused of whining when we talk about our frustrations, and we are sensitive to that. We’ve been brought up in a somewhat status-obsessed society, too, so mentioning financial difficulties leads to feelings of shame. Some young women were concerned that admitting to the desperate desire for a child might harm their career prospects. But by far the most commonly cited reason is that they didn’t want to hurt their parents’ feelings by discussing how, in contrast to the parents of some of their peers, they are unable to give them that vital leg up. Everyone I spoke to wanted to stand on their own two feet, but they were aware that their parents shared their feelings of powerlessness and sadness. “It would kill my father to have this printed,” one woman said. “He’s a proud man.”…

Europe is dying because the youth can’t afford to reproduce.