My grandfather was just a toddler when soldiers came home from World War One in 1918. They brought the deadly Spanish Flu with them, which killed well over 50 million worldwide.
As a young adult, my grandfather struggled through the Great Depression with the rest of the world. And just as things started looking up, World War II broke out. Lucky for me, he survived it all.
After the war, my grandfather took a job as a teacher. And on that single salary he was able to buy a house, provide for his family, afford a car, and have a secure pension for when he retired.
His wife (my grandmother) started a small hair salon in the family living room to earn money on the side. They saved nearly every penny they ever earned. They never went into debt.
Back then, this was the fundamental promise of America: you were rewarded for working hard and saving money.
But now things are entirely different.
For starters, cost of living is totally out of control. My grandfather’s teaching salary was more than enough to support his family in a comfortable, middle class lifestyle. Today that would be almost impossible.
Census statistics show that just 25% of married households with children were dual income in 1950. Today it’s nearly 70%. Plus, to even qualify for a lot of jobs today, you must have a university degree… which carries its own enormous costs. A CRIMINAL RACKET!
A typical young person today emerges from university with student debt exceeding $40,000. And millions of young people have student debt exceeding $100,000. THAT IS DEBT SLAVERY, AND IT IS CALLED RACKETEERING AND EXPLOITATION! Why is our government allowing this? How does society allow this to happen?
Speaking of debt, my grandparents had none. But today’s median household (according to Federal Reserve data) has racked up consumer debt exceeding $30,000, with a bank balance of less than $5,000.
Coincidentally, a study from the University of Chicago last year showed that roughly 25% of people in their 20s reported having zero sex in the previous 12 months, almost the same amount as people living with Mom and Dad.
While this might sound comical, it matters: young people are putting off children as well.
In fact, the US fertility rate is now at its lowest level in DECADES, well below the amount necessary to maintain a stable population.
It’s simply too expensive to have kids.