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Source article: https://www.theatlantic.com...
The Next Recession Will Destroy Millennials
Millennials are already in debt and without savings. After the next downturn, they’ll be in even bigger trouble.
The trade war is dragging on.
The yield curve is inverting.
If you are watching this video then you are probably between 25 and 35 and are starting to notice the notice the consequences of the last recession. I think it’s in your best interest to watch until the end of this video as by knowing more about what can happen to our generation during the next generation will help us become more prepared.
Investors are fleeing to safety. Global growth is slowing. The stock market is dipping. The Millennials are screwed.
Recessions are never good for anyone. A sputtering economy means miserable financial, emotional, and physical-health consequences for everyone from infants to retirees.
But the next one—it is not a question of if it happens but when. And when it happens will hit millenials, adults between 22 and 38 particularly hard. after all, the last recession never really ended.
Millenials have struggled in recovering after the last financial crisis are now left more vulnerable than older generations. With inflation increasing yearly but in most cases not a matching increase in salary.
Millenials are failing to make it to the middle class and will most likely be the first generation in modern economic history to end up worse than their partents. The next financial crisis will be the final nail in the coffin. Stalling their careers and sucking away their wages as inflation rates rise even higher right at the same time most millenials enter their prime earning years.
Millennials graduated into the worst jobs market in 80 years. That did not just mean a few years of high unemployment, or a couple years living in their parents’ basements. It meant a full decade of lost wages.