General Discussion
In reply to the discussion: It seems like there's a lot of dislike and contempt for "boomers" from "millennials" [View all]magical thyme
(14,881 posts)than our parents. In my case, worse off by far.
There are many of us out there from my generation who are worse off than our parents were. Our parents experienced a long growth economy from FDR on until they were retiring.
I, on the other hand, hit the job market during the 1st big oil recession when Iran tanked Jimmy Carter's presidency, so I experienced the "lost decade" right from the get-go. My parents started out in poverty and ended up in upper middle class living in a 2,000 square foot townhouse in a swanky retirement town. I've been in and out of poverty from the day I hit the pavement looking for my first real job. I've gone from 1 room and almost in my car, to 2 rooms and almost in my car, to 3 rooms. I'm temporarily in 5 rooms, but as soon as I'm able to sell this place I'll be headed right back down the # of rooms. I'll be lucky if I don't end up carrying my home in a shopping cart. It's no for want of trying or working hard when I had the chance.
Don't fall for the media lies. Our economy has been on a bubble popping death spiral since Reagan, and was in recession during Nixon before that. Carter never had a chance to even begin to turn it around in a sustainable way, and Reagan set the stage and pulled the trigger on the death spiral.