MILLENNIAL's Are In DEBT And Doing ANYTHING For MONEY (BROKE AND DESPERATE) | generation y news
Channel: Cobra High
Date: 2019-06-07

Millennial's are now doing anything for money. Many are entering into extreme challenges in hopes of winning money or at-least obtaining social media fame. Millennial us news shows many millennial's are also struggling with saving and investing. They are carrying large amounts of debt in a troubled economy. 

The millennials aren’t whiners, Wall Street Journal editorialist Joseph Sternberg writes in “The Theft of a Decade”: They have legitimate complaints about economic trends that have hit them particularly hard.

People in the middle of that generation reached adulthood just as the economy fell into the most severe recession since the Great Depression. That recession was followed by a disappointingly slow recovery. Sternberg notes that the effects of entering the labor force in a weak economy are not transitory: Lifetime earnings are measurably lower.

Compounding that problem, millennials also have higher levels of debt from college than their elders did. Sternberg’s discussion of that issue is thoughtful and nuanced. Eye-popping debt loads of six figures are uncommon, he points out, and often held by people who are well-positioned to pay them off over time. His concern is rather for “students who borrowed ‘only’ $15,000 for a degree they thought would yield a higher-paying job but who either weren’t able to complete the degree or discover they misjudged how the labor market would reward their education.” It’s an understanding of the problem that points toward a need to change our system of higher education, not just the way it is financed.

Sternberg also lays out the depressing choices that financing entitlements will entail for today’s thirtysomethings, who may have to pay higher taxes, take lower benefits in their retirement, or both. Boomers, he writes, “are imposing a miserable fiscal burden on their children.”

SOURCES -
Millennials Really Are Suffering
http://tinyurl.com/y2dzqzbh


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