.
It has become a regular habit for some media contributors to blame millennials for the death of many businesses and other profitable institutions. This blame focuses on millennials because they refuse to spend there limited incomes to benefit the billionaires and other corporate fat cats.
The American people have listened to conservatives tout the benefits of Reagan’s snake oil known as “Trickle Down” for the last four decades. Reliable numbers charting the success of Reagan’s snake oil have proven consistently, that during these years, the wealthiest top 0.1% (that’s one tenth of one percent) have flourished beyond all expectations.
Unfortunately, those same reliable numbers prove the bottom 90%, and especially the lowest half of American families haven’t fared well, at all.
But, in the years when Reagan first started selling his snake oil, in younger, baby boomer families, both spouses began working, so the negative impact of his trickle-down-snake-oil was slow to be noticed by the masses. The generation that fought in WWII and produced the baby-boomers were already established financially, so they too were also slow to notice as their buying power decreased.
The WWII generation did have one advantage (if you can call it that) over the baby boomers they bore. The WWII generation lived through the Great Depression. Their families were forced to learn to make do with less, appreciate the value of money, and live within their limited means.
This was not the case with the “boomers”. As conservative policies slowly began to strangle wages, destroy unions, and create an environment hostile to working people, easy credit became available to provide the money needed by the boomers to buy the trappings of middle class, which were rapidly becoming more and more expensive.
Living expenses, whether for necessities or luxuries, increased at a rate much more quickly than incomes. The bubble burst in the middle of 2008, the final year of Dubya’s tax-cuts-for-the-very-rich, and borrow-money-for-two-needless-wars administration.
During the initial months of the Great Republican Recession, countless baby boomers lost their jobs, homes, cars, life savings, retirement accounts, etc. The following years of slow economic recovery resulting from the congressional Republicans many efforts to make Obama a one-term-president, saw economic conditions so bad, many of these boomers would never recover.
All this financial tragedy had little effect on the wealthiest top 0.1%, but it was a lesson to the millennial generation. Like their grandparents during the Great Depression, they watched while their parents [boomers] struggled financially. Savings ran out, as did long-term unemployment benefits, and eventually, the income from part-time jobs was barely enough to keep food on the table and a roof over their heads.
This generation-wide experience forced most millennials to develop a financial mindset that is currently being blamed for the dying retail industry, the slowing restaurant business, the bind being felt by automakers, unimpressive sales of new homes, and the loss of many jobs.
But blaming all this on millennials is Bullsh!t.
Unlike the suckers who believe in Reagan’s snake oil, these young people refuse to spend their meager incomes on the billionaires' over-priced crap. The same over-priced crap their boomer parents went deeply into debt to own, so as to live the middle class lifestyle, which was beyond the financial means of most.
No, the blame for the economic catastrophe of Reagan’s snake oil falls squarely on the suckers in the baby boomer generation. For four decades, they happily handed the vast majority of the wealth to the top 0.1%, in the mistaken belief the billionaires’ massive profits from ever-rising prices, substantial Republican tax cuts, the outsourcing these tax cuts helped finance, and the stagnant wages enjoyed by low and middle income families would finally be trickled down upon them.
That ain’t happened yet, and millennials know it never will. They understand they must live for the moment, and the few enjoyable experiences they are able to afford. Fu*k the businesses that are dying. The millennials are not to blame for the CEO baby boomers who were too stupid to understand Reagan’s snake oil would eventually cause their worlds to come crashing down around them.
Millennials can read the handwriting on the wall. They know Reagan’s “Trickle Down” snake oil is a scam to keep wealth moving upward, and always has been. They can also understand that, until the stupid, conservative baby boomers die out, there is little they can do to help themselves. The stupid members of the boomer generation still have too much power. “Trickle Down” will continue, for now.
'Psychologically scarred' millennials are killing dozens of industries — and it's their parents' fault
_______________________________________________________________________________________
.
It has become a regular habit for some media contributors to blame millennials for the death of many businesses and other profitable institutions. This blame focuses on millennials because they refuse to spend there limited incomes to benefit the billionaires and other corporate fat cats.
The American people have listened to conservatives tout the benefits of Reagan’s snake oil known as “Trickle Down” for the last four decades. Reliable numbers charting the success of Reagan’s snake oil have proven consistently, that during these years, the wealthiest top 0.1% (that’s one tenth of one percent) have flourished beyond all expectations.
Unfortunately, those same reliable numbers prove the bottom 90%, and especially the lowest half of American families haven’t fared well, at all.
But, in the years when Reagan first started selling his snake oil, in younger, baby boomer families, both spouses began working, so the negative impact of his trickle-down-snake-oil was slow to be noticed by the masses. The generation that fought in WWII and produced the baby-boomers were already established financially, so they too were also slow to notice as their buying power decreased.
The WWII generation did have one advantage (if you can call it that) over the baby boomers they bore. The WWII generation lived through the Great Depression. Their families were forced to learn to make do with less, appreciate the value of money, and live within their limited means.
This was not the case with the “boomers”. As conservative policies slowly began to strangle wages, destroy unions, and create an environment hostile to working people, easy credit became available to provide the money needed by the boomers to buy the trappings of middle class, which were rapidly becoming more and more expensive.
Living expenses, whether for necessities or luxuries, increased at a rate much more quickly than incomes. The bubble burst in the middle of 2008, the final year of Dubya’s tax-cuts-for-the-very-rich, and borrow-money-for-two-needless-wars administration.
During the initial months of the Great Republican Recession, countless baby boomers lost their jobs, homes, cars, life savings, retirement accounts, etc. The following years of slow economic recovery resulting from the congressional Republicans many efforts to make Obama a one-term-president, saw economic conditions so bad, many of these boomers would never recover.
All this financial tragedy had little effect on the wealthiest top 0.1%, but it was a lesson to the millennial generation. Like their grandparents during the Great Depression, they watched while their parents [boomers] struggled financially. Savings ran out, as did long-term unemployment benefits, and eventually, the income from part-time jobs was barely enough to keep food on the table and a roof over their heads.
This generation-wide experience forced most millennials to develop a financial mindset that is currently being blamed for the dying retail industry, the slowing restaurant business, the bind being felt by automakers, unimpressive sales of new homes, and the loss of many jobs.
But blaming all this on millennials is Bullsh!t.
Unlike the suckers who believe in Reagan’s snake oil, these young people refuse to spend their meager incomes on the billionaires' over-priced crap. The same over-priced crap their boomer parents went deeply into debt to own, so as to live the middle class lifestyle, which was beyond the financial means of most.
No, the blame for the economic catastrophe of Reagan’s snake oil falls squarely on the suckers in the baby boomer generation. For four decades, they happily handed the vast majority of the wealth to the top 0.1%, in the mistaken belief the billionaires’ massive profits from ever-rising prices, substantial Republican tax cuts, the outsourcing these tax cuts helped finance, and the stagnant wages enjoyed by low and middle income families would finally be trickled down upon them.
That ain’t happened yet, and millennials know it never will. They understand they must live for the moment, and the few enjoyable experiences they are able to afford. Fu*k the businesses that are dying. The millennials are not to blame for the CEO baby boomers who were too stupid to understand Reagan’s snake oil would eventually cause their worlds to come crashing down around them.
Millennials can read the handwriting on the wall. They know Reagan’s “Trickle Down” snake oil is a scam to keep wealth moving upward, and always has been. They can also understand that, until the stupid, conservative baby boomers die out, there is little they can do to help themselves. The stupid members of the boomer generation still have too much power. “Trickle Down” will continue, for now.
'Psychologically scarred' millennials are killing dozens of industries — and it's their parents' fault
_______________________________________________________________________________________
.
