3 ms·

I don't believe your chart at all. It's literally just a random excel chart with no source or authority. This is also the first time I've heard someone say mill

• arcticbull 5y ago
  Is that trillion dollars millenials have in debt per capita? And further is that comparison against previous generations adjusted for inflation? How much more debt do they hold on a per capita basis adjusted for inflation than past generations? Or is that just clickbait :) I mean, read the article you linked, here’s some quotes: > 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. > Another marked behavioral difference between generations is the higher levels of retirement savings among millennials than any previous generation at the same age. While Gen Xers had acquired about $13,600 at around the same point in time, millennials have saved $15,500 in retirement accounts on average. > Millennials are also more committed to higher education. Between 2001 and 2016, the number of people aged 25 to 29 with at least a four year degree grew by 25%. Which is why they have more student loan debt. Something that definitely needs to be addressed. It’s not the hair on fire crisis the title would have you believe. Which is why the chart I showed you, restated on a per capita basis instead of “wealth share” (while not standardized against a rapidly changing population and a growing wealth pie) makes both intuitive sense and the math works. Yes certain “the rich” may live longer but I was referring to the correlation between health care expenditure and life expectancy - which is weakly correlated and only to a point. I may have don’t a poor job framing that [1]. Given you linked AARP I suspect that has more to do with unequal access to care earlier in life when poor, amortized to the limit, a uniquely American problem among developed nations. [1] https://ourworldindata.org/grapher/life-expectancy-vs-health-expenditure https://ourworldindata.org/grapher/life-expectancy-vs-health...
  • intev 5y ago
    Here's[1] a more recent article from the St. Louis Fed. In no uncertain terms the current generation is behind in wealth accumulation. The best case scenario is since the delta has been reduced since the last time this study was done, hopefully the trend continues. Covid threw a wrench in everything, but as it stands, current generation is worse off (even without taking covid into account). The above study looks at it on a per capita basis adjusted for inflation. The conclusion is pretty straightforward and clear. > Yes certain “the rich” may live longer but I was referring to the correlation between health care expenditure and life expectancy - which is weakly correlated and only to a point. I may have don’t a poor job framing that [1]. Given you linked AARP I suspect that has more to do with unequal access to care earlier in life when poor, amortized to the limit, a uniquely American problem among developed nations. Of course, but there's also plenty of other countries, in fact most of the world, where there's no healthcare safety net and being wealthy could literally mean decades if difference in life span. If the year being being born influences that, it's an incredibly unfair advantage. Yes the bar is being raised, but you can't simply isolate it as a uniquely American problem. Most of the developing world has this problem too. As a quick example look at the cancer survival rates by country [2]. Being rich lets you live longer in most countries. Its not the case only in a few select countries. [1] https://www.stlouisfed.org/on-the-economy/2021/march/millennials-catching-up-earlier-generational-wealth https://www.stlouisfed.org/on-the-economy/2021/march/millenn... [2] https://worldpopulationreview.com/country-rankings/cancer-survival-rates-by-country https://worldpopulationreview.com/country-rankings/cancer-su...
  • medvezhenok 5y ago
    Life expectancy (at age 40) and income is very well correlated, though starts to plateau around $150K/year [1]. We know that most of Americans' wealth today comes from the value of their home rather than retirement savings (and/or pensions before that). Look at this chart of housing prices (inflation adjusted) and see if you can tell a difference between when the boomers entered the housing market and today[2]. [1] http://www.equality-of-opportunity.org/health/ http://www.equality-of-opportunity.org/health/ [2] https://inflationdata.com/articles/wp-content/uploads/2021/10/Inflation-Adjusted-Housing-Index-10-21.png?ezimgfmt=ng:webp/ngcb1 https://inflationdata.com/articles/wp-content/uploads/2021/1...