Reply to NYT Opinion Piece: This Isn’t What Millennial Middle Age Was Supposed To Look Like

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]As a [b]Gen Xer who graduated into the recession of the early 90s and then endured the financial crisis I find the millennial attitude/ignorance that they are apparently the first generation ever to face economic hardship laughable.[/b] This generation has been feeding at their boomer parents trough all their lives is on track to receive the largest intergenerational transfer of wealth in history.[/quote]

There's some truth to this.  The millenials have also had the benefit of the lowest interest rates imaginable, for a really long time.  (My student loans were at 8-12%, depending if they were subsidized!).  
But I also feel bad for them because the generation behind them is basically quiet quitting before they even start.  That puts a lot of burden on Gen X-ers and millenials to keep the economy running, and not being able to staff up businesses the way we'd like.  The boomers all left during the pandemic, and now I know a lot of Gen X-ers that are so burnt out that they are taking early retirement as well.  That leaves a lot of work for those millenials.  I'm also not sure how much wealth transfer there will be -- those boomers are spending that money pretty quickly, and I suspect a lot of them will outlive their savings since they are the generation that gave up smoking and invented aerobics.[/quote]
As a millennial, my grad school loans during the 2008 recession were at 8-12% interest rates even though "normal" interest rates were 0% at that time.  There wasn't a discount.  [/quote]

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