Millennials are killing numerous industries

[DrZoidberg]

Baby boomers caused millennials' destructive spending habits - Business Insider
It's a long list of things that milliennials have supposedly killed or are supposedly in the process of killing.

The golf business, retailers, the movie business, Home Depot, relationships, running, wine, McDonald's, manners, paper napkins, cars, crowdfunding, credit, houses, Buffalo Wild Wings, Applebee's, diamonds, ...

Why?

"I think we have got a very significant psychological scar from this great recession," Morgan Stanley analyst Kimberly Greenberger told Business Insider. "One in every five households at the time were severely negatively impacted by that event. And, if you think about the children in that house and how the length and depth of that recession really impacted people, I think you have an entire generation with permanently changed spending habits."

...
Seven in 10 students graduate from college with student loan debt, owing an average of over $30,000, according to the Institute for College Access and Success — and that's ignoring the massive debt of students who took out loans but did not graduate. As student-loan debt has skyrocketed, income — both for graduates and millennials who haven't attended college — has failed to substantially increase.

With these economic burdens, it is difficult for millennials to save money. Thirty-one percent of "young millennials," ages 18 to 24, and 33% of "older millennials," ages 25 to 34, don't have any money in their savings account, according to GOBankingRates.

Thus making it difficult to afford houses and cars -- and makes avocado toast seem like a much more worthwhile investment. If anything, it's much cheaper.

I think the big difference is that milleneals don't value property. They value experiences. It's different lifestyles. Experiences are about exploiting windows of opportunity. Ie, now now now. While amassing property means slow and steady saving. And accumulation over time. Of course that's going to fuck up industries that cater to those who want to amass property. I've always had a high salary. But I've always lived extremely frugally. In order to have experiences. Travelling and such.

 

[fast]

Edited out

 

[dismal]

Government spending is what makes society bearable for most.

I think it's time you surrendered your anarchist card.

 

[lpetrich]

The Most Popular College Majors – Niche Blog -- in the US, it seems. Right-wingers ought to weep tears of joy when they discover what the most popular major is.

Also, as to valuing experiences more than property, that's not getting the point. If they are about equally expensive, then that would be the case. But looking at how house prices have risen relative to income, it is evident that houses have become too expensive for many people. Also, it may be difficult to commit to 20 or 30 years of mortgage when one does not have a very stable income. That's a feature of the "gig economy", continually moving from job to job.

 

[T.G.G. Moogly]

The golf business, retailers, the movie business, Home Depot, relationships, running, wine, McDonald's, manners, paper napkins, cars, crowdfunding, credit, houses, Buffalo Wild Wings, Applebee's, diamonds, ...

Why?

I'm glad if some of them really would go. Never could understand why anyone would golf or go to a McDonald's.

 

[T.G.G. Moogly]

Again nonsense.

Spending too little for a long time is not justification to spend less.

Poverty has consequences, neglected children, single parent homes, crime, fear, learned helplessness.

Compound this with poor schools and mass incarceration and you have a very intractable problem. A problem with solutions to be expected in generations, if massive effort is put forth, and never with half-assed efforts.

Perhaps the disagreement is that I support evidence based funding. Can you show that increased funding makes a difference? I've already put a few articles in this thread showing that it doesn't. Spending more is just about feeling good. Taxpayer dollars should not be wasted just so you can feel good.

You're only able to say that because of all the government spending that has occurred.

 

[lpetrich]

The top one is business/management at 290,928, a little more than 1/6 of the page's total of 1,661,560.

Next in line are nursing at 128,323, psychology at 127,597, biology at 118,215, engineering at 104,762, and education at 99,202. These and the first one combine to be a little more than half of the majors.

Of these, all these are practical skills (nursing and education) or STEM subjects (psychology, biology, and engineering, though psychology is a rather soft one).

Next in line after these six are finance/accounting, communications/journalism, criminal justice, and at #10, English. So at least 1/2 of these are useful skills, and arguably 3/4 of them. Communications majors can get some employment as professional bullshitters, a.k.a. public-relations people for businesses, for instance.

-

I suspect that if more people started majoring in business and practical skills and STEM stuff, then business leaders might start wanting liberal-arts majors to cut down on candidates for positions -- and defend their choice by saying that they want broad-minded employees with a variety of skills, not just what has immediate practical value.

 

[blastula]

While they're at it, can they also kill off the junk mail and spam industry? TIA.

 

[LordKiran]

The top one is business/management at 290,928, a little more than 1/6 of the page's total of 1,661,560.

Next in line are nursing at 128,323, psychology at 127,597, biology at 118,215, engineering at 104,762, and education at 99,202. These and the first one combine to be a little more than half of the majors.

Of these, all these are practical skills (nursing and education) or STEM subjects (psychology, biology, and engineering, though psychology is a rather soft one).

Next in line after these six are finance/accounting, communications/journalism, criminal justice, and at #10, English. So at least 1/2 of these are useful skills, and arguably 3/4 of them. Communications majors can get some employment as professional bullshitters, a.k.a. public-relations people for businesses, for instance.

-

I suspect that if more people started majoring in business and practical skills and STEM stuff, then business leaders might start wanting liberal-arts majors to cut down on candidates for positions -- and defend their choice by saying that they want broad-minded employees with a variety of skills, not just what has immediate practical value.

Several former disney animators have told me at different times that they got their start without any formal schooling, the thought process at Disney HR is that they can train anyone to animate and use the software, so they prioritize other qualities in their applicants.

 

[untermensche]

Government spending is what makes society bearable for most.

I think it's time you surrendered your anarchist card.

Capitalism is the system we are stuck with. Not Anarchism.

Nobody ever voted for it.

It is a rat race for most simply to make the rich as rich as possible.

But when you have capitalism the only thing that makes it bearable for most is government regulation and government spending.

Without it life would become more miserable for most.

Under capitalism.

 

[LordKiran]

I think it's time you surrendered your anarchist card.

Capitalism is the system we are stuck with. Not Anarchism.

Nobody ever voted for it.

It is a rat race for most simply to make the rich as rich as possible.

But when you have capitalism the only thing that makes it bearable for most is government regulation and government spending.

Without it life would become more miserable for most.

Under capitalism.

Capitalism is a potential byproduct of a free and open society that allows for the ownership of private property and assets. Oligarchic mercantilism and protectionism is NOT capitalism.

Further, saying "nobody voted for capitalism" is a bit weird. Nobody voted to develop currency or international trade either, so what's your point?

Tell me. In a society that allows for free ownership of property, what would you do to stop me from starting a business and contracting labor to my specifications?

 

[Jayjay]

Baby boomers caused millennials' destructive spending habits - Business Insider
It's a long list of things that milliennials have supposedly killed or are supposedly in the process of killing.

The golf business, retailers, the movie business, Home Depot, relationships, running, wine, McDonald's, manners, paper napkins, cars, crowdfunding, credit, houses, Buffalo Wild Wings, Applebee's, diamonds, ...

That's easy to solve. Just market these things so that they should be consumed ironically and the millenials will come in droves.

 

[LordKiran]

Baby boomers caused millennials' destructive spending habits - Business Insider
It's a long list of things that milliennials have supposedly killed or are supposedly in the process of killing.

The golf business, retailers, the movie business, Home Depot, relationships, running, wine, McDonald's, manners, paper napkins, cars, crowdfunding, credit, houses, Buffalo Wild Wings, Applebee's, diamonds, ...

That's easy to solve. Just market these things so that they should be consumed ironically and the millenials will come in droves.

Ironic enjoyment is the result of wanting to enjoy something to begin with, but feeling unable to because of perceived societal standards. "I like old corny slasher movies ironically, they're so uncool that I'll watch them back to back over the course of an evening!"

 

[untermensche]

Tell me. In a society that allows for free ownership of property, what would you do to stop me from starting a business and contracting labor to my specifications?

In a society where people had employee owned and operated businesses all around how would you find people looking for a dictator so they could make less?

 

[LordKiran]

Tell me. In a society that allows for free ownership of property, what would you do to stop me from starting a business and contracting labor to my specifications?

In a society where people had employee owned and operated businesses all around how would you find people looking for a dictator so they could make less?

That doesn't answer my question. Also, an employee having to obey dictates formed by a general concensus is still an employee obeying dictates. What makes yours so noble? Just because they're formed by group-think rather than by a small group of people/a single person? The tyranny of the majority is still a form of tyranny from the perspective of the dissenter and individual.

 

[Jayjay]

Tell me. In a society that allows for free ownership of property, what would you do to stop me from starting a business and contracting labor to my specifications?

In a society where people had employee owned and operated businesses all around how would you find people looking for a dictator so they could make less?

You hire from the pool of unemployed, not the pool of employee-owners.

 

[untermensche]

In a society where people had employee owned and operated businesses all around how would you find people looking for a dictator so they could make less?

That doesn't answer my question. Also, an employee having to obey dictates formed by a general concensus is still an employee obeying dictates. What makes yours so noble? Just because they're formed by group-think rather than by a small group of people/a single person? The tyranny of the majority is still a form of tyranny from the perspective of the dissenter and individual.

Do you understand the difference between democracy and dictatorship?

One is preferable to the other.

 

[untermensche]

In a society where people had employee owned and operated businesses all around how would you find people looking for a dictator so they could make less?

You hire from the pool of unemployed, not the pool of employee-owners.

But if there are many opportunities to be in an employee owned company who will chose to be somebodies lackey in a dictatorship?

How does a person get the money to hire other people in such a system?

It is also a system that puts a check on inequality without the use of force.

Great wealth is made by making others your servants, or by having great ideas, but that is rare.

Eliminate the ability of some to turn others into their mindless servants and you prevent a lot of immoral inequality.

 

[Loren Pechtel]

Bullshit.

What we have mostly is poverty and the effects of a lot of poor people segregated by race.

We also have a war on people called the drug war and a for-profit prison system that desires criminals.

You can't create an even playing field in terms of education until you deal with the problems of poverty, lack of opportunity and mass incarceration.

Not bullshit. You really think we are getting a good return on our investment in education? Most college majors are completely useless in the real world - folks ought to be told that before they go into massive debt to fund administrative bloat and safe spaces for the negative Flynn effect generation. And blaming society, poverty, etc. for people's lack of education is silly nonsense.

Objection: Poverty is the main cause. The problem is you are equating being poor and poverty--the latter is a state of mind. Education is a future benefit, not a present benefit--and thus is given little value by those in poverty. When the parents don't care the kids almost never learn much.

 

[Loren Pechtel]

Taxing and spending simply because if feels good - rather than that it does good - shouldn't be done. We spend quite enough on education already; though special interests who wish to pad their retirements using public tax dollars may disagree. In any case, government spending, meddling, and social engineering seems to do little, if any, good.

Nonsense.

Government spending is what makes society bearable for most.

You can't claim that taking away the spending will make anything better.

What is needed is more spending.

We need to move to free college education for everyone. Something Germany is doing. Something Mexico has been doing for a while.

You are making the assumption that the spending is productive. What he's showing is that it isn't. Wasteful spending helps only those who have effectively make-work jobs.