The recession couldn't be over, Obama is still in the White House.
The recession is over and this has nothing to do with the President. This has to
do with generational warfare so to speak. The economy is currently going through
a huge transition. Manufacturing jobs which used to pay good wages and have long
term guarantees have been replaced with low skilled service jobs that are not
paying as well as the jobs that are lost. Unfortunately these millenials through
no fault of their own are now caught in this economic transition. The only fix
for this is a recognition of the need for service jobs to pay better wages and
provide more opportunities for the Millenial generation. If these problems are
not solved there will be major negative consequences for our future. The next
generations deserve better and hopefully they will get it before things get
The cost of living will keep going higher and service wages wont. Good luck to
the parents in their old age. It's a shock to see your self in the mirror,
and you look like your dad, think about how it feels like when you look like
your grandfather, and your son looks like your dad.
"Even though the recession officially ended in 2009, young adults continue
to struggle financially."Maybe that's your problem. You
think the recession is over when it isn't. Oh the stock market is setting
new "fake" highs but that's only because Benancke makes new money
out of thin air. At some point, it will come crashing down, just like the
housing market.The problem with millenials is that they haven't
learned anything. All they know how to do is text and play video games.
There is how economists define a recession being over and then there is reality.
The recession for most of us is FAR from over...
I am a "Millennial". I've been extremely blessed to have been
employed in my field since graduating in 2008. Not to brag, but I do live on my
own, I am independent, and I am 100% debt free (through extreme budgeting, I was
able to pay off all my student loans early).
The Millenials (and the rest of us) are competing with slavery overseas doing
work that used to have a fair wage here. Short of international engagements and
treaties regarding corporate slavery, that's going to be tough to resolve.
Separately, it isn't strange that they're debt-shy. They've seen
the results of having debt and no income and also seen that despite the cruel
words of some, it isn't always the fault of those having the difficult
Sure, the recession is over (if you say so), but it was a jobless recovery.There are huge numbers of underemployed and people who have left the job
market altogether.I can't imagine Millennials giving up, but I sure
know lots of 50-somethings who are in forced retirement.My 24-year-old is
still at home. She was able to find a part-time job. She couldn't possibly
live off that paycheck but at least she doesn't have school loan debt.If this is what a recovery looks like I'd hate to see a recession.
I'm a Millenial and own a house, car, and am debt-free. But, I'm the
exception rather than the rule. So many of people my age have had too much
handed to them--they do not value hard work. They use the recession as an
excuse, though there are plenty of jobs if you are willing to get the right
education and MOVE to the jobs. Parents are to blame for enabling this behavior
as much as the Millenials. A lot of my friends are under-employed with jobs
that do not include benefits. It's going to be a scary time when
Millenials retire, because so many do not have 401Ks.
It's only fair that Millennials use this time to splurge off their parents
who will then splurge off their children and grandchildren through
government-provided benefits for decades to come.
The recession is over for the 1%. They are the only ones that really count in
this Country. Just ask them.