Just two years ago, the median American born in the 1980s — the cradle of millennials — had family wealth that was 34 per cent below what earlier generations held at the same age, the Federal Reserve Bank of St. Louis reported last month. And all the data show it’s probably going to get worse.
As affluent baby boomers thank years of soaring markets for their paid-off mortgages and plump portfolios, millennials and the next cohort, Generation Z, are weighed down by student debt and stagnant wages. They can only contribute the bare minimum to their retirement plans and struggle to find affordable homes within commuting distance of their jobs.
- Lower wages thanks to more women entering the workforce and immigration.
- The Great Ponzi Scheme aka Social Security reaching its end.
- Sky high tuition fees for useless degrees.
- Overall higher taxes.
But on top of all that, the Millennials and Generation Zyklon will have to deal with The Great War. What will that look like? The breakup of the once United States. The purge of Muslims and other morons from Europe. China flexing its muscles as the new superpower by taking resource-rich areas in Africa.
What can Millennials do?
- Read history. You can learn a lot about the future by observing the past.
- Scorching savings rate. Stop buying shit.
- Ammo is your friend. Learn to shoot.
- Stick with family and friends.
- Get a dog. Or two.