Millennials are killing numerous industries

[lpetrich]

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.

 

[Derec]

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.

Avocado toasts are horrible investments! They go bad so quickly. You really have to flip them immediately or else eat them yourself.

 

[dismal]

In other news, supermodels are killing my $100 per hour oiling-up supermodels for photoshoots business.

 

[funinspace]

Well Boomers killed off Big Band music...

 

[J842P]

It's culture shock. Boomers can't imagine why anyone wouldn't love Applebees. Clearly, it's something wrong with those people, not with Applebees. Next you're going start telling me Olive Garden isn't good Italian food!

 

[ZiprHead]

Next you'll be telling me paying people shit wages and saddling them with big expenses isn't good for the economy.

 

[dismal]

Since the dawn of mankind people have made decisions about what to do with their scarce resources which has effected what is and isn't consumed.

"The economy" is not better if they spend $5 going to McDonalds if they'd rather spend $150,000 on a woman's studies degree.

 

[untermensche]

Society in general is better when people are educated.

Education for the sake of education and for the sake of society and the individual.

A sane society would build a lot less bombs and pay for a lot more people to be educated.

 

[Trausti]

Society in general is better when people are educated.

Education for the sake of education and for the sake of society and the individual.

A sane society would build a lot less bombs and pay for a lot more people to be educated.

I think we've reached the law of diminishing returns on our investment in education.

(>_<)

 

[untermensche]

Society in general is better when people are educated.

Education for the sake of education and for the sake of society and the individual.

A sane society would build a lot less bombs and pay for a lot more people to be educated.

I think we've reached the law of diminishing returns on our investment in education.

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.

 

[Trausti]

I think we've reached the law of diminishing returns on our investment in education.

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.

Prisoners are no less likely to offend when placed in better neighborhoods

More spending does NOT increase education attainment

 

[untermensche]

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.

We are fighting against the growing flood of poverty and lack of opportunity.

Our return cannot be measured.

All that can be said is we would probably be a lot worse off if we had not spent what we have and would probably be better off if we had spent more on poverty reduction and less on the war on people called the drug war.

 

[Trausti]

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.

We are fighting against the growing flood of poverty and lack of opportunity.

Our return cannot be measured.

All that can be said is we would probably be a lot worse off if we had not spent what we have and would probably be better off if we had spent more on poverty reduction and less on the war on people called the drug war.

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.

Link

An oldie but a goodie:

 

[untermensche]

We are fighting against the growing flood of poverty and lack of opportunity.

Our return cannot be measured.

All that can be said is we would probably be a lot worse off if we had not spent what we have and would probably be better off if we had spent more on poverty reduction and less on the war on people called the drug war.

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.

 

[Trausti]

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 worth living.

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.

If the answer was government spending then we should have reached utopia long ago. These issues are hardly new. And we've spent trillions already. I'm not advocating we stop spending, just trying to slay the notion that more spending is a solution. It is not. As Roy Rogers said, if you find yourself in a hole, stop digging.

 

[untermensche]

Nonsense.

Government spending is what makes society worth living.

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.

If the answer was government spending then we should have reached utopia long ago. These issues are hardly new. And we've spent trillions already. I'm not advocating we stop spending, just trying to slay the notion that more spending is a solution. It is not. As Roy Rogers said, if you find yourself in a hole, stop digging.

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.

 

[Trausti]

If the answer was government spending then we should have reached utopia long ago. These issues are hardly new. And we've spent trillions already. I'm not advocating we stop spending, just trying to slay the notion that more spending is a solution. It is not. As Roy Rogers said, if you find yourself in a hole, stop digging.

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.

 

[untermensche]

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 difference 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 have not demonstrated that less spending would make anything better.

With spending and an economy it is best to put money into the hands of people who will spend it.

So for poverty the best solution is to take from people who have a lot and just give to people who have very little.

This will create a vibrant healthy economy as well as helping a lot of poor people directly.

What kills an economy is when a few are able to hoard or ship out great wealth.

 

[Trausti]

Perhaps the difference 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 have not demonstrated that less spending would make anything better.

With spending and an economy it is best to put money into the hands of people who will spend it.

So for poverty the best solution is to take from people who have a lot and just give to people who have very little.

This will create a vibrant healthy economy as well as helping a lot of poor people directly.

What kills an economy is when a few are able to hoard or ship out great wealth.

What has this ever work in the history of the world? You're not proposing anything new; and ignorance of history is no excuse.

 

[untermensche]

You have not demonstrated that less spending would make anything better.

With spending and an economy it is best to put money into the hands of people who will spend it.

So for poverty the best solution is to take from people who have a lot and just give to people who have very little.

This will create a vibrant healthy economy as well as helping a lot of poor people directly.

What kills an economy is when a few are able to hoard or ship out great wealth.

What has this ever work in the history of the world? You're not proposing anything new; and ignorance of history is no excuse.

Worked?

We are spending a lot more than we did in 1880.

Are you saying we are no better off?

If spending only makes a problem better but does not cure it, that is no reason to stop the spending. Maybe it's a reason to look into more efficient spending.