/biz/ - Business & Finance

>>18444805
>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.

fuck.

>>18226226
really? how bad was illegal immigration in the 50's compared to today? did they have a lot of H1B IT workers in the 50's?

it's almost like... it's almost as if when the boomers got old enough to take control of everything, they royally fucked everything up. hmmmm....

>shorted 200 shares of AMD at $45
>now it's at $47

you know what? this is fine. im gonna hold on to this, not for me but for you guys. if losing some of my money means the economy recovers and everything gets better, because obviously if i short that means it's gonna go up forever, then so be.

i hope you all appreciate my sacrifice to save the world.