http://www.infowars.com/the-last-nail-in-the-millennials-coffin-a-negative-2-savings-rate/
The problems from a lack of savings promise to reverberate for years. Those who don’t save are unlikely to be wealthy in the future, meaning American angst over wealth inequality seems poised to persist if most millennials are unable to save or choose not to.
Young households’ wealth has declined even more than their incomes. In the previous generation, Americans who were under 35 in 1995—often labeled Generation X—earned wages that were 9% higher than today after adjusting for inflation. Now, the median millennial has a net worth of $10,400, down 42% from $18,200 for Generation X, according to Fed data.
Why the disastrous economic data for America’s most important generation? The answer is simple: the economy is, despite all the pomp and propaganda, still a disaster. That, and of course, the $1.2 trillion student loan bubble.
The problems from a lack of savings promise to reverberate for years. Those who don’t save are unlikely to be wealthy in the future, meaning American angst over wealth inequality seems poised to persist if most millennials are unable to save or choose not to.
Young households’ wealth has declined even more than their incomes. In the previous generation, Americans who were under 35 in 1995—often labeled Generation X—earned wages that were 9% higher than today after adjusting for inflation. Now, the median millennial has a net worth of $10,400, down 42% from $18,200 for Generation X, according to Fed data.
Why the disastrous economic data for America’s most important generation? The answer is simple: the economy is, despite all the pomp and propaganda, still a disaster. That, and of course, the $1.2 trillion student loan bubble.