In today’s video will be reacting to an article by CNBC titled millennials are to blame for the sluggish economy.
Let’s drive into it. Millennial’s the selfie-obsessed avocado toast loving generation “Yeah because millennial’s is just want to sit around all day and eat avocado toast”. Millennial’s, the selfie-obsessed avocado toast loving generation might be behind slower economic growth according to a research note from Raymond James last week.
Yeah seems like millennial’s are the cause of everything, isn’t it? I think these Articles just want to use millennial’s like a scapegoat for everything. It’s like millennials are to blame for the housing market millennials are to blame for the death of retail stores. As a millennial you really can’t win with these people, can you? I don’t think that millennial saving has anything to do with the sluggish economy.
I think the real issue here is that millennials are broke. Lots of young people now are saddled with debt, student loan debt and rising housing costs and stagnant wages which have remained stagnant for almost a decade. Let’s be honest here most meals are one paycheck away from being homeless and that is a fact. Consumer debt right now is at $12.86 trillion dollars and rising. That includes debt such as mortgages, auto loans, credit cards, and drum roll please student loans.
millennials aren’t spending because they are scared. That is what happens when you have economic uncertainty. I mean you have some millennials in their 30’s who still live with their parents.
Not because they are lazy but because they don’t know whether or not they will even have a job tomorrow.
As I like to say poverty is a pit, not a ladder