Economic Betrayal of the Millennial Generation
Sometimes it helps to read articles written outside the United States. It helps to get a new perspective or reinforce
an old one. I refer to the March 7th article written by the Guardian newspaper in London. It speaks to the inequality between the generations in the developed world. In their article they compare the seven major economies of North America and Europe. Their numbers support the reasons why those born between 1980 and 1995, all 75 million of them, are having such a difficult time after graduating from college with high student loan debt and a growth in income that has lagged dramatically behind national averages for the past 30 years.
In the United States and Italy, disposable income for millennials are barely above what it was 30 years ago. They came of age during the Great Recession loaded with this student debt, high housing costs, low income growth …