Sad! Millennials Owe More Than A Trillion In Debt And Most Don't Even Own A Home

Julian Lewis
Julian Lewis

HOW TO GET A DECENT PAYING JOB AND SAVE MONEY: desuarchive.org/prepare/thread/40/ | archive.fo/4vGvc
https:// web.archive.org/web/20180924174348/https:// 8ch.net/prepare/res/40.html

When compared to a similar point in time, Millennials are deeper in debt than any other generation that has come before them. And the biggest reason why they are in so much debt may surprise you.

We’ll get to that in a minute, but first let’s talk about the giant mountain of debt that Millennials have accumulated. According to the New York Fed, the total amount of debt that Millennials are carrying has risen by a whopping 22 percent in just the last five years…

New findings from the New York Federal Reserve reveal that millennials have now racked up over US$1 trillion of debt.

This troubling amount of debt, an increase of over 22% in just five years, is more than any other generation in history. This situation may leave you wondering how millennials ended up in such a sorry state.

Many young adults are absolutely drowning in debt, but the composition of that debt is quite different when compared to previous generations at a similar point in time.

Mortgage debt and credit card debt levels are far lower for Millennials, but the level of student loan debt is far, far higher…

While the debt levels accumulated by millennials eclipse those of the previous generation, Generation X, at a similar point in time, the complexion of the debt is very different.

According to a 2018 report from the St. Louis Federal Reserve Bank, mortgage debt is about 15% lower for millennials and credit card debt among millennials was about two-thirds that of Gen X.

However, student loan debt was over 300% greater.

Over the last 10 years, the total amount of student loan debt in the United States has more than doubled.

It is an absolutely enormous financial problem, and there doesn’t seem to be an easy solution. Some politicians on the left are pledging to make college education “free” in the United States, but they never seem to explain who is going to pay for that.

THIRD WORLD ECONOMICS

web.archive.org/web/20190313144729/https://www.zerohedge.com/news/2019-03-12/millennials-are-more-trillion-dollars-debt-and-most-them-dont-even-own-home
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Michael Turner
Michael Turner

#1 rule of fiscal solvency and earning a living: don't go taking loans for things you cannot afford! Thats how most people go bankrupt!

Anthony Wood
Anthony Wood

If you ever take a loan, make 100% sure YOU can pay it back. And only take a loan for something that is 100% necessary and needed, not desired! Higher education is NOT needed. You have trade schools that will teach you all the skills you need to know to make it in a trade career.

Jacob Evans
Jacob Evans

And the parents who push college on their children ARE JUST AS STUPID AND NAIVE!

Nathan Lopez
Nathan Lopez

Sure, you can buy a home without a loan. But you have to save for 20 or 30 years for a shack that you probably have to build yourself and they’re just going to confiscate it when you need medical care or the econ goes bad and you can’t do the taxes.

Nathaniel Walker
Nathaniel Walker

At least if you go to college you won’t go bankrupt.

Noah Hill
Noah Hill

I'm not talking about mortgages being a problem. If you read the report the vast amount of debt insolvency is from student loans. Most these kids don't even end up with the jobs they studied so hard to get. Many of them end up flipping burgers, with two part time jobs living in an overpriced apartment. Not worth it.

Here's what they should do. Stay with your parents and do the chores for rent. Most parents care about their kids and will allow that. Go to a trade school in the meantime. Learn a skill, such as plumbing or construction work…. and get a job where it is most affordable to live and where taxes are low! Have your parents help you out, and make sure you can pay them back incrementally when you move out. You won't be taking huge massive loans… you'll have a decent stream of income, and you'll be able to get a decent mortgage. No student loans needed.

Connor Morales
Connor Morales

So what happens to that student loan debt? Taxpayers have to pay for it? Is this already subsidized by our socialist government?

Ian Davis
Ian Davis

It’s only 1.4T. What about the other 21T+?

You’re blaming the victims of shenanigans.
Taxpayers don’t fund schools; taxes are merely a wealth redistribution system.

Dylan Watson
Dylan Watson

okay to default on creature comforts, not on skills training

Ever see someone build a shitty house?

Lucas Gomez
Lucas Gomez

Most taxes are actually used to pay back the interest on the national debt so you are correct in a way, yes. What I'm asking about is the statement "At least if you go to college you won’t go bankrupt." Thats odd! There are A LOT of students who end up bankrupt, living on the city streets!

Brayden Roberts
Brayden Roberts

They didn’t go bankrupt on their student loans.

Xavier Perry
Xavier Perry

I had to re-fortify the foundation of my own home (which was built back in the 50s), so in a way I guess so. It depends where and when it was built, by whom, and the environmental conditions it endured over the years.

Joseph Taylor
Joseph Taylor

Then what was it? If most don't even have a mortgage how are they going bankrupt? Is it where they live, overpriced renting? It has to be something and student loan debt seems to be the biggest debt bubble they currently are in. So if its not, why are so many going bankrupt? Drugs? Overpriced rent? Addicted to hookers? Gambling? What are they doing?

Liam Bennett
Liam Bennett

I’m thinking of all those McMansions that were going up a few years ago. Looked like fine suburban housing but were made out of manufactured home materials. Variable mortgages. Now settling andfalling to pieces.

I’m saying there are plenty of worthless investments that are made of tangible substances like wood, concrete, and copper.

Joseph Price
Joseph Price

Nothing like that. I meant you can’t go bankrupt on student loans, so they are not a source of bankruptcy.

Ryder Moore
Ryder Moore

You can file if you have in excess of 8500$ on credit cards but it’s probably hospitals doing it.

Ian Wilson
Ian Wilson

Ohhhh, I overlooked the other racket. The big pharma industry, I see. Yes, equally as vicious, equally on par with corruption as the banks and university rackets.

I'd recommend serious changes in diet and stop taking so many meds. And cut all the consumption of crap like soda and junk foods. Eat healthier (and that DOESN'T mean being a vegan!)

Cooper James
Cooper James

med prescribed to treat emergency symptom
stop taking meds

Ok.

Justin Gonzalez
Justin Gonzalez

Probably obvious to stop eating SAD, but allopathic medicine isn’t all bad. When you’re sick, you need a doctor.

Jason Jenkins
Jason Jenkins

Unless you have a SERIOUS condition, you should not be taking meds. Most people do not need meds, but they take a bunch anyway because they are DUPED by the pharma shills (doctors/ head shrinks) into taking them anyway. Increases bottom line profits $$$.

Jackson Ramirez
Jackson Ramirez

When you’re sick, you need a doctor.

Nope. Thats actually BS. When I get sick I simply take extra Vitamin C, extra curcumin supplement, make myself some chicken noodle soup and take cat naps. Having some Cod Liver Oil also helps too. Thats all your body really needs to fight off sickness. If your headache gets really bad, just take an aspirin as well.

Samuel King
Samuel King

Nah, everyone needs a Xanny bar sometimes, or some help reducing their appetite or clearing up their skin and regulating their bowels. Industrial civilization is a toxic soup. We chose to pursue better living through chemistry and our tool-making is as much a part of the environment now as groundwater, from a public health persoective. You can martyr yourself and expect your body to correct for the pressures it’s under but you’re being unrealistic.

Anthony Hall
Anthony Hall

Disagree. 5g will not be bested by Omega-3 supplements.

Jace Parker
Jace Parker

xe means sick like having trans regrets

Oliver Gonzalez
Oliver Gonzalez

Industrial civilization is a toxic soup

True, but the big pharma industry is part of that same racket. Do you know that Monsanto has been caught selling cancer-inducing herbicides and currently they are owned by Bayer (a pharmaceutical corp)? Ohhhhh yah.

Jaxon Miller
Jaxon Miller

Let me give your view some credit and suggest that living quite some distance from the cities will help somewhat with allowing the body’s natural defenses to work things out. But there is no escaping it all.

Charles Murphy
Charles Murphy

The truth is our immune systems CAN fight off most disease and illness. Not all. But most of them. As long as you treat your body well (healthy diet, proper sanitation, exercise, vitamins, fresh air and sunshine) then your immune system stays strong and healthy. If you engage in bad habits, your immune system deteriorates and becomes more susceptible to sickness and disease.

Kayden Flores
Kayden Flores

Yes, also that Baxter thinks it’s okay for kidney patients to live with serious anemia and Fresenius to deny their patients supplementary proteins and Lidocaine for those 14 gauge needles. It still doesn’t convince me that they don’thavecancer or pickled beans.

Cooper Powell
Cooper Powell

Collectively. Domesticated animals can no longer return to living in the wild. Same with humans. Do so and many will die off, which is what neetsoc wants despite low iq being a predictable outcome of the burgeoning tribalism.

Jose Myers
Jose Myers

Johnny would also love this fact: Sex is actually HEALTHY for the immune system, cardiovascular system and heart in moderation too. Many people who live without love or sex end up dying younger, known fact since the 50s.

Eli Campbell
Eli Campbell

I think this is why libertarianism doesn’t work: there is no way even our conscientious decisions don’t affect others. It doesn’t describe reality enough to settle disagreements about differing environments.

Cameron Smith
Cameron Smith

Domesticated animals can no longer return to living in the wild. Same with humans.

That makes sense. I can see if you are conditioned to living dependently then having to abruptly change to harsh nature would kill anyone off. This is why I encourage preparedness, becoming self-sufficient over time and adapting to harsher realities to come.

David Long
David Long

You’re placing a lot of faith in epigenetics. The standard belief is that environment is the determinant, not behavior.

Anthony Fisher
Anthony Fisher

One of my longstanding issues with American education is that in school they make a big deal out of Darwin and only lightly touch on Lamarck. But then you look around and see that the Lamarckian path of trying to bring about improvements deliberately through science and experimentation is ubiquitous.

Michael Rogers
Michael Rogers

A good example was the fact that I completely cut off central air and heating of my home. I forced myself over time to be prepared to adapt to harsher environments. Its normal now having to run a fan to cool off (if need be I could operate one using an inverter or solar generator)… and during the winter I use my wood burning stove and some of the wood I cut up many years ago I have out back. I get used to certain conditions off off-grid living. Someday I plan to go completely off-grid by turning off the fuse boxes for a whole week and seeing how I can manage.

Jaxson Thompson
Jaxson Thompson

Ok, great, now you can live in the desert. But can you live without carbon?

Adrian Taylor
Adrian Taylor

I’m going to cut your dick off and replace it with silicon. Can you will your body to integrate with the appliance and produce children?

Jeremiah Campbell
Jeremiah Campbell

Well I can't live completely off-grid yet, that I do know. However I have adapted to harsh environments for the most part. It does get uncomfortable at times but I know I can survive without certain luxuries. I do plan to take it further and test out REAL off-grid living for one week sometime… that can be done, but I'm sure there will be some challenges. But practice makes perfect.

David Wilson
David Wilson

My point is that maybe you can, but I can’t and neither can, as. thought experiment, all modern women. Kill them off and you kill off humanity and yourself in the bargain. Imagine life without women. But if you’d allowed the cities to exist there’d be artificial wombs still.

Jacob Perez
Jacob Perez

While you’re fetishizing your Walden cabin I’m reminding you that it’s not necessarily superior to the way things are now, or even safer. You would prefer a rain forest to a monoculture if you were wise. It’s just that this rainforest we have today has more transsexuals than guava fruit.

Jose Stewart
Jose Stewart

Overall, I think the surer bet is not isolation and barbarism but injecting my own toxins into the soup. Because I know you can’t escape them if I do it right. But I can wall off my great ciry from you and even come and take what was yours.

Jacob Phillips
Jacob Phillips

I kinda see where your going with this. You are saying we need to adapt to the hell that is being built around us to really survive and all those who do their best to resist will be isolated and defeated or become obsolete at some point? Maybe…. its good food for thought.

Carter Taylor
Carter Taylor

You have to be involved in order to evolve. But having your computer is probably enough.

Nathaniel Green
Nathaniel Green

real news bump

Austin Bennett
Austin Bennett

if i ignore the rest of the world surely it won't come for me
incoming american famines because no one wants their pus milk and chlorine chickens

Brayden Morgan
Brayden Morgan

You have to be careful what you buy in the US, I'm well aware of that. I must look for actual organic certifications from various groups that do lab testing on foods to certify they are legit and not loaded with crap. Because of the costs of certification testing, those foods cost more money.

Sebastian Fisher
Sebastian Fisher

imagine life with out woman
sex bots
artificial wombs are being made

I don't think I'm missing out on much

Colton Price
Colton Price

then they vote for the government to take away the boomers wealththinking it will get redistributed to them but the only thing that happens is then they parents and grand parents don't have anything to pass on to them

Michael Reyes
Michael Reyes

to add, it also makes them slaves in the country their ancestors built while it constantly gets flooded with foreigners who get preferential treatment and are completely racist, but when you switch on the tv you'll be constantly told you should go die in a gutter somewhere

Ryan Thomas
Ryan Thomas

Inb4 control freaks regulate those: and they WILL.

Absolutely, I was thinking the same. Here's what they'll do, the government will mandate taxpayers foot the bills (austerity) for these insolvent millennials. The millennials will get forgiven of their debts of-course…. but the money will go to the banks to pay those loans off. Then the parents will hate the millennials for stealing their savings, millennials get disowned from their disgruntled families (who are now also broke) and then you have yourself a poor one-class communist system. The bankers/govt/politicians/corporations all enriched with the wealth they sucked dry and the masses all in poverty, more divided against one another than ever seen before resulting in conflict and more police state crackdowns.

Thats what they plan on happening. Win-win for the despot (((criminals))) who run the stinkin' commie scam.

Jaxon Carter
Jaxon Carter

Oh, and they can't steal it if you don't have savings in the bank to steal:
desuarchive.org/prepare/thread/1/

Diversify your wealth / savings if you have it, and if you live in a city, time to get out and head towards the country-side and buy some cheap property, learn to be self-sufficient and prepare. Get out of the system before it bites you in the ass!

Ethan King
Ethan King

implying boomers were saving for millennials' inheritance
not buying corvettes and going on luxury cruises

Logan Ross
Logan Ross

For breakfast we have a thick slice of REAL NEWS and TRUE NEWS on the side. Would you like it served legit or actual rational?

Connor Brooks
Connor Brooks

legit news bump

Gavin Martinez
Gavin Martinez

We have the right to do what we want with our savings, we worked for it. As for me, I don't travel much unlike many folks my age tend to. Last trip I made was across country driving my old pickup truck. I tend to spend my savings on prepping. However, thats my money and I worked for it. And to tell you the truth, I did leave some inheritance to my daughter, because I love her no matter what she thinks of me. So not all "boomers" are the way you describe, just like not every millennial is a snowflake cuck either, matter of fact I've met some who are pretty tough SOBs before, some you wouldn't want to start a fight with in REAL LIFE.

Ethan Cox
Ethan Cox

I owe my life to debt. THANK YOU BASED DEBT!

Isaac Morgan
Isaac Morgan

real news

Luis Brooks
Luis Brooks

REAL NEWS

Bentley Nguyen
Bentley Nguyen

waste of money

Colton Nelson
Colton Nelson

This same article gets posted fucking monthly with a different news headline and all referring to the same study. Enough's enough and it's getting the sage treatment (followed by the spam treatment if it's reposted).

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