It's ridiculous to suggest young people don't know anything about downturns. People who are now in their early-mid-30's were some of the biggest victims of the

It's ridiculous to suggest young people don't know anything about downturns. People who are now in their early-mid-30's were some of the biggest victims of the 2008 GFC because they bore the brunt of unemployment and delayed entry into careers (and other life milestones) as a result. If you're an employer, why would you hire a new grad when you could fill all your hiring needs with experienced hands? You wouldn't, and that was the reality in many industries back then. New grad unemployment reached nearly 15% in the period from 2008-2012, significantly higher than the overall unemployment rate. Then there was something like 20+% underemployment, with college grads working as baristas just to have some money coming in while they waited for the economy to thaw so they could start their lives. Many young people had no opportunity to pursue a real career after taking on four years of educational debt through no fault of their own. "Go to college and get a good job" was revealed to be a complete farce. A few years later as things picked up, there was a fresh crop of new grads behind them without any awkward employment gap or strange jobs to explain. Even those who managed to make their way into solid careers missed out on the stock market and housing asset boom of the last decade because they did not have the deposits and credit history needed to contemplate buying a home until fairly recently when prices went vertical.