There is a cover article in Newsweek Magazine about today's
Americans under age 35, what is sometimes called "Millennials" or
"Generation Y" but now is hearing a new title- the “screwed generation,
And the reason they are screwed is the economy. Their parents (that's
me) and the Y's (that would include Jane) are over-educated,
underemployed and with a far less glowing possibility for the future.
The unemployment rate for those 18 to 29 is 50 percent above the
national average, and even those who have jobs are often overqualified
and underpaid. They have great debt to repay, feel hopeless and have
unprecedented levels of stress, and most will never be able to achieve
the economic status or lifestyles their parents enjoy.
Ok, they are saying I and parents of that generation in the U.S. and in many other countries screwed our children by being greedy and hoarding all the cash and opportunity. It is not true. I am innocent., but I won't speak for everyone else. Hmmmm have we been so greedy and sloppy that the economy our children have today is broken and useless to the Y Generation? It's true that most of the wealth in the world is held by the older generations, and that never before in history has the economic gap between Y and us been bigger. But we just took advantage of the opportunities we had, while many of the Y's seems less motivated and too self absorbed to take advantage when opportunities arise.
I also think you might call the Y group the "entitlement or Welfare" Generation. Many of them expect to be given what they want and need. Governments everywhere have passed out "free stuff" so much that Y types expect an endless stream of them. And when mommy and daddy government doesn't give "stuff" to the Y's they borrow it with no intention of paying it back. The average student, according to Forbes, already carries $12,700 in credit card and other kinds of debt. Student loans have grown consistently over the last few decades to an average of $27,000 each. (mostly so high because the Y generation thinks it should borrow for the prestigious and expensive private universities instead of for the cheaper public ones).
I do think the social welfare state today gives too much to everyone and kills initiative in the process. The biggest difference I see between the two generations is that the older one was willing to work harder and sacrifice more to achieve its goals. Too many Y's expect gifts and do not see working and paying taxes as the source of those gifts. The social welfare state killed Europe and is about to do the same to the U.S. Governments today are more in the business of pleasing as many people as possible for as long as possible. That's it! There are now vast constituencies dependent on the federal government, Generation Y being one of the biggest.
I want the Y generation to succeed but my only advice for them is to stop whining. They should wait out the recession and work...work, work, hard, just like their parents did.
Ok, they are saying I and parents of that generation in the U.S. and in many other countries screwed our children by being greedy and hoarding all the cash and opportunity. It is not true. I am innocent., but I won't speak for everyone else. Hmmmm have we been so greedy and sloppy that the economy our children have today is broken and useless to the Y Generation? It's true that most of the wealth in the world is held by the older generations, and that never before in history has the economic gap between Y and us been bigger. But we just took advantage of the opportunities we had, while many of the Y's seems less motivated and too self absorbed to take advantage when opportunities arise.
I also think you might call the Y group the "entitlement or Welfare" Generation. Many of them expect to be given what they want and need. Governments everywhere have passed out "free stuff" so much that Y types expect an endless stream of them. And when mommy and daddy government doesn't give "stuff" to the Y's they borrow it with no intention of paying it back. The average student, according to Forbes, already carries $12,700 in credit card and other kinds of debt. Student loans have grown consistently over the last few decades to an average of $27,000 each. (mostly so high because the Y generation thinks it should borrow for the prestigious and expensive private universities instead of for the cheaper public ones).
I do think the social welfare state today gives too much to everyone and kills initiative in the process. The biggest difference I see between the two generations is that the older one was willing to work harder and sacrifice more to achieve its goals. Too many Y's expect gifts and do not see working and paying taxes as the source of those gifts. The social welfare state killed Europe and is about to do the same to the U.S. Governments today are more in the business of pleasing as many people as possible for as long as possible. That's it! There are now vast constituencies dependent on the federal government, Generation Y being one of the biggest.
I want the Y generation to succeed but my only advice for them is to stop whining. They should wait out the recession and work...work, work, hard, just like their parents did.
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