Yes, there's definitely something wrong with millennials, and here's what it is!
FREE Catholic Classes
Across the country, the news is shocking. Over half of the millennials think socialism might be a good thing. Most of them believe the American dream is a myth, and public perception is that something is wrong with them. Why do they just want "free stuff?"
As far as millennials are concerned, the American dream is just that -- you have to be asleep to believe it.
LOS ANGELES, CA (California Network) - As it turns out, something is wrong with millennials, and it isn't that they're lazy or dumb. The problem is, they're earning less money and carrying more debt than any of their predecessors. And they feel trapped by the economy, which is not being very forgiving.
The Wall Street Journal studied millennial finances in New York City and was shocked by their findings. Millennials are earning 20 percent less and carrying more debt than their predecessors. They're doing all the same work as their predecessors, they're just being paid much less.
To make up the difference, which for some is the difference between welfare and independence, they're using credit. But credit has a cost, which is high in the long term. The result, when combined with the steadily-rising cost of education, is an entire generation that's actually working every bit as hard as their predecessors, but falling farther behind.
Debt continues to grow, especially as millennials use credit in place of wages to stay off welfare.
This is a game changer. We told millennials as they grew up, that the path to success in America is hard work and education. Good grades mattered because they got you into college and college got you a degree and a degree a good-paying job.
Instead, good grades got kids into college, which got kids into debt, and the degrees did not turn into jobs. A recession, along with unpredictable but fundamental shifts in the economy, have left this generation adrift, without the usual hopes of their predecessors.
Student debt continues to grow as wages lose ground to prices.
It's important to appreciate the fact that millennials don't have the same reality as the rest of us. Their experience is a hostile one. Our credibility is weak because we raised them on what they now believe to be lies and false promises. There's naturally going to be hell to pay. And the more we preach at them about hard work, offering the solutions that worked for us, but no longer work for them, the less credible we sound.
The bottom line is that workers across the board need raises. Prices continue to go up, regardless of wages, which leads to a decline in purchasing power. Corporate America and Wall Street have paid themselves handsomely since 2001. It's time to cut the little guys, including the millennials, a break.
In 2019, millennials will be a major voting bloc with enough numbers and influence to bring about a fundamental shift in our government and economics. If we want that shift to remain rooted in capitalism, then we need to persuade the youth that capitalism can still deliver on its promises. Because so far, it's made an American myth out of the American dream for millions of people.
The California Network is the Next Wave in delivery of information and entertainment on pop culture, social trends, lifestyle, entertainment, news, politics and economics. We are hyper-focused on one audience, YOU, the connected generation. JOIN US AS WE REDEFINE AND REVOLUTIONIZE THE EVER-CHANGING MEDIA LANDSCAPE.
Thirty plus years ago, the U.S. Catholic bishops wrote a very challenging pastoral letter titled "Economic Justice for All." In their ... continue reading
For the past 60 years, the Federal Reserve's yield curve has predicted recessions. Now, as the yield curve shows signs of inverting again, ... continue reading
Markets have suffered their worst April start since the Great Depression, led by Amazon which lost 5.21 percent of its value in one day ... continue reading
Global markets have dropped for the past few days, and just this morning have rebounded. It remains to be seen if the recovery is ... continue reading
The world is richer and more productive than ever before in history. Yet, income inequality is growing the poverty is on the rise. Middle ... continue reading
FREE Catholic Classes Pick a class, you can learn anything
by Catholic Online
- Pope Francis urges Catholics to help children by supporting adoption
- Daily Readings for Sunday, May 26, 2019
- Making a Difference: Wars, threats of more wars, dishonor Memorial Day
- Polish bishops pledge greater sensitivity for abuse victims
- Daily Reading for Monday, May 27th, 2019 HD Video
- Daily Reading for Tuesday, May 28th, 2019 HD Video
- St. Philip Neri: Saint of the Day for Sunday, May 26, 2019
- Prayer Requests Live for Friday, May 24th, 2019 HD
- Daily Reading for Sunday, May 26th, 2019 HD
- Prayer Requests Live for Thursday, May 23rd, 2019 HD
- Daily Reading for Saturday, May 25th, 2019 HD
Learn about Catholic world
Inform - Inspire - Ignite
Catholic Online Saints
Your saints explained
Catholic Online Prayers
Prayers for every need
Catholic Online Bible
Complete bible online
Catholic Online News
Your news Catholic eye
Today's bible reading
Products and services we offer
Catholic Online Shopping
Catholic medals, gifts & books
Advertise on Catholic Online
Your ads on catholic.org
Catholic Online Email
Email with Catholic feel
Learn the Catholic way
Catholic Online School
Free Catholic education for all
K-12 & Adult Education Classes
Support Free Education
Tax deductible support Free education
Copyright 2019 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2019 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.
Catholic Online is a Project of Your Catholic Voice Foundation, a Not-for-Profit Corporation. Your Catholic Voice Foundation has been granted a recognition of tax exemption under Section 501(c)(3) of the Internal Revenue Code. Federal Tax Identification Number: 81-0596847. Your gift is tax-deductible as allowed by law.