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>Majority of millennials have never seen a time of economic prosperity in their lifetimes. It is the complete opposite to what their parents experienced. This

by pcrh 5y ago

>Majority of millennials have never seen a time of economic prosperity in their lifetimes. It is the complete opposite to what their parents experienced. This exaggerated view is unfortunately quite common. It completely ignores the crises that previous generations had to go through, from WWII and the Korean War, to Vietnam, to depopulation of rural areas, to the Oil Crisis, to massive pollution in modern cities, to the mass lay-off of industrial workers starting in the 1980s, to inflation rates of 15-20%, etc, etc.

nebula8804 5y ago
Oh wow this comment is packed with so many unrelated events spanning multiple generations. You fail to see that going into the 70s and 80s the societal structure shifted to a far conservative view in terms of taxation, regulation and other governmental actions. This leads to a direct correlation to the outcomes for Gen X, Y and Z which have had their upbringing in the decades since post-Nixon. If you look at the raw numbers of how Boomers prospered in their life cycle and compare it to the trajectory of Millennials it tells a clear and jarring picture. Even more so for Gen Z which explain why they are eschewing capitalism at far greater numbers than Millennials ever did. Note: all of my comments applies to a lesser extent to GenX as well but AOC was referencing Millennials since she is one. The point is if you look at the trajectory from Gen X onwards it paints a picture of decline in most aspects of life. WWII is really the Silent + Greatest Generation and does not excuse the decline that started after Boomers.
- pcrh 5y ago
  >so many unrelated events spanning multiple generations. That's the point; the world has always been turning. In terms of post-WWII economic history, the current "crisis" in the west is neither special nor very great.
  - nebula8804 5y ago
    This academic view of things does not matter to the people who are living a reality where their parents have done better than them. You seem to be ignoring this fact.
    - pcrh 5y ago
      Plenty of people are living a reality where they're doing better than their parents. I should think that includes a lot of the well-paid software industry readership of HN.
      - nebula8804 5y ago
        The majority aren't. Repeating my previous comment: If you look at the raw numbers of how Boomers prospered in their life cycle and compare it to the trajectory of Millennials it tells a clear and jarring picture. Even more so for Gen Z which explain why they are eschewing capitalism at far greater numbers than Millennials ever did. Note: all of my comments applies to a lesser extent to GenX as well but AOC was referencing Millennials since she is one. The point is if you look at the trajectory from Gen X onwards it paints a picture of decline in most aspects of life. You can pluck a small group from any generation and show that they are doing better. How is the cohort as a whole doing? It appears that you are set in your ways and are not willing to actually look at how Gen Y and Gen Z are doing in reality. Every answer you have given is an excuse to lay blame on the millennials as if the majority of the generation made some critical mistake in their lives. You are just too out of touch to reason with.
        pcrh 5y ago
        Yes, the challenges faced by Millenials are different from those faced by their parents. But I don't think they are harder than those faced by previous generations.
OneTimePetes 5y ago
Yes, but those "previous generations" had oxygen in the tank, as in financial assets stored away from the good times, to survive the bad times. Millenials go pearl diving.
- pcrh 5y ago
  Try telling that to all those laid off in the 1980's, or those who had to abandon family farms in the 1960's and 1970's, etc, etc. Ordinarily it is the older generation that looks to the past with rose-tinted spectacles. Millenials must be one of the few times when it is the younger generation that does so.
  - nebula8804 5y ago
    If you look at the arc of the whole generation and compare it to subsequent generations, overall the Boomers ended up much better off than their successors at the same point in time. Time is running out for Millenials to catch up. The oldest part of the cohort are in their 40s now so its looking as if they will end up poorer compared to their parents.
- bryanlarsen 5y ago
  Poor people in the fifties did not have any financial assets.
batty_alex 5y ago
Okay, so, what’s your point? There’s always some crisis in history. You’re moving the goalposts to weird places and leaving out all the boom times in the time periods you mention. Doesn’t seem like a good faith argument to me Also, the Korean and Vietnamese wars were about fighting communism and imposing Western democracy on the East

by pcrh 5y ago

nebula8804 5y ago

Oh wow this comment is packed with so many unrelated events spanning multiple generations. You fail to see that going into the 70s and 80s the societal structure shifted to a far conservative view in terms of taxation, regulation and other governmental actions. This leads to a direct correlation to the outcomes for Gen X, Y and Z which have had their upbringing in the decades since post-Nixon. If you look at the raw numbers of how Boomers prospered in their life cycle and compare it to the trajectory of Millennials it tells a clear and jarring picture. Even more so for Gen Z which explain why they are eschewing capitalism at far greater numbers than Millennials ever did. Note: all of my comments applies to a lesser extent to GenX as well but AOC was referencing Millennials since she is one. The point is if you look at the trajectory from Gen X onwards it paints a picture of decline in most aspects of life. WWII is really the Silent + Greatest Generation and does not excuse the decline that started after Boomers.

pcrh 5y ago
>so many unrelated events spanning multiple generations. That's the point; the world has always been turning. In terms of post-WWII economic history, the current "crisis" in the west is neither special nor very great.
- nebula8804 5y ago
  This academic view of things does not matter to the people who are living a reality where their parents have done better than them. You seem to be ignoring this fact.
  - pcrh 5y ago
    Plenty of people are living a reality where they're doing better than their parents. I should think that includes a lot of the well-paid software industry readership of HN.
    - nebula8804 5y ago
      The majority aren't. Repeating my previous comment: If you look at the raw numbers of how Boomers prospered in their life cycle and compare it to the trajectory of Millennials it tells a clear and jarring picture. Even more so for Gen Z which explain why they are eschewing capitalism at far greater numbers than Millennials ever did. Note: all of my comments applies to a lesser extent to GenX as well but AOC was referencing Millennials since she is one. The point is if you look at the trajectory from Gen X onwards it paints a picture of decline in most aspects of life. You can pluck a small group from any generation and show that they are doing better. How is the cohort as a whole doing? It appears that you are set in your ways and are not willing to actually look at how Gen Y and Gen Z are doing in reality. Every answer you have given is an excuse to lay blame on the millennials as if the majority of the generation made some critical mistake in their lives. You are just too out of touch to reason with.
      - pcrh 5y ago
        Yes, the challenges faced by Millenials are different from those faced by their parents. But I don't think they are harder than those faced by previous generations.

OneTimePetes 5y ago

Yes, but those "previous generations" had oxygen in the tank, as in financial assets stored away from the good times, to survive the bad times. Millenials go pearl diving.

pcrh 5y ago
Try telling that to all those laid off in the 1980's, or those who had to abandon family farms in the 1960's and 1970's, etc, etc. Ordinarily it is the older generation that looks to the past with rose-tinted spectacles. Millenials must be one of the few times when it is the younger generation that does so.
- nebula8804 5y ago
  If you look at the arc of the whole generation and compare it to subsequent generations, overall the Boomers ended up much better off than their successors at the same point in time. Time is running out for Millenials to catch up. The oldest part of the cohort are in their 40s now so its looking as if they will end up poorer compared to their parents.
bryanlarsen 5y ago
Poor people in the fifties did not have any financial assets.

batty_alex 5y ago

Okay, so, what’s your point? There’s always some crisis in history. You’re moving the goalposts to weird places and leaving out all the boom times in the time periods you mention. Doesn’t seem like a good faith argument to me Also, the Korean and Vietnamese wars were about fighting communism and imposing Western democracy on the East