Revealed: the 30-year economic betrayal dragging down Generation Y’s income

[marmar]

Revealed: the 30-year economic betrayal dragging down Generation Y’s income
Exclusive new data shows how debt, unemployment and property prices have combined to stop millennials taking their share of western wealth


(Guardian UK) The full scale of the financial rout facing millennials is revealed today in exclusive new data that points to a perfect storm of factors besetting an entire generation of young adults around the world.

A combination of debt, joblessness, globalisation, demographics and rising house prices is depressing the incomes and prospects of millions of young people across the developed world, resulting in unprecedented inequality between generations.

A Guardian investigation into the prospects of millennials – those born between 1980 and the mid-90s, and often otherwise known as Generation Y – has found they are increasingly being cut out of the wealth generated in western societies.

Where 30 years ago young adults used to earn more than national averages, now in many countries they have slumped to earning as much as 20% below their average compatriot. Pensioners by comparison have seen income soar.

In seven major economies in North America and Europe, the growth in income of the average young couple and families in their 20s has lagged dramatically behind national averages over the past 30 years. ..................(more)

http://www.theguardian.com/world/2016/mar/07/revealed-30-year-economic-betrayal-dragging-down-generation-y-income

[TubbersUK]

1. K & R

Because they deserve better.

[malaise]

2. Reagan and Thatcher's New World Order

and its destructive neo-liberal economics is the reason for this.

One of these days the 1% will pay as will their owned tools.

[Hortensis]

3. +1000.

Given the 1%'s practice of shifting the blame for all consequences onto liberals, though, i.e., to sic the angry mobs on the liberals, I prefer to keep it simple for the terminology-challenged:

Conservative economic policies are the dysfunctional destroyers of lives and nations.

[Cobalt Violet]

4. I hope I live long enough to see that day.

I do believe you are right. Thier day will come.

[AxionExcel]

5. +1,000

there you have it - right wing republican economics

[malaise]

6. Careful

More than a few Big D and little D Democratic folks accepted and promoted the entire New World Order, and not just in the US.

[The2ndWheel]

7. On a complex world

it's funny how people can just blame one thing. Conservative economics, that's it. Context doesn't matter. The history, momentum, and complexity of at least thousands upon thousands of years of history have nothing to do with anything.

The same way the 1950's aren't coming back socially, the 1950's aren't coming back economically either.