Generation Vexed: Young Americans rein in their dreams

[marmar]

By Tiffany Hsu and Shan Li, Los Angeles Times
August 14, 2011


Alicia Thomas, 20, had it all planned out: career at a nonprofit, married by 24, mortgage by 26.

Then financial markets went on a wild roller-coaster ride, portending that high unemployment and the stalled economy won't be rebounding any time soon.

"I don't want to invest in something I can't afford, given the economy breaking down," said Thomas, who is majoring in political science at UC San Diego. "I'll be taking smaller steps."

Call it Generation Vexed — young Americans who are downsizing expectations in the face of an economic future that is anything but certain. Career plans are being altered, marriages put off and dreams shelved. .............(more)

The complete piece is at: http://www.latimes.com/business/la-fi-youth-debt-20110814,0,3614698.story

[OneGrassRoot]

1. It's finally time to re-evaluate the dreams and goals altogether...

Do we really want to be such a consumerist society on all levels? We can't. It's not sustainable, so these kids are going to have to re-evaluate their lives and their dreams. We all are.

K&R

[marmar]

2. Yep.....and it's SOOOO hard to get people to accept it.

Mindless consumerism has so been identified with success.

[xchrom]

3. +1

[OneGrassRoot]

5. Our entire system of values and priorities....

it ALL needs re-evaluated.

I wrote this as my FB status last week:

"It's simply, really. People over Profit -- Humanity over Hoarding -- Generosity over Greed. It's a choice, though many still choose profit, hoarding and greed. Nothing new in the history of humankind, of course, but I'd like to think we can evolve. Well, we can...but we must choose to, and encourage others to choose similarly."

If we, collectively, could choose to put these words into action, my goodness, what a different world we'd see....

[The2ndWheel]

6. Because energy is cheap

The cheaper the energy, the more will be wasted, or mindlessly used. The more expensive energy becomes, the more you will need to think about how you use it.

[Jkid]

8. And America is still promoting mindless consumerism despite the crisis.

[indurancevile]

17. in what sense is working for a non-profit, getting married & buying a house "mindless consumerism"?

this is mindless consumerism and it is just growing:

http://www.dailyfinance.com/2011/01/15/rich-peoples-toys-how-many-families-could-live-on-what-they-co/

[marmar]

19. Huh? I wasn't referring to the woman in the story.

nt

[indurancevile]

21. my error then.

[seabeyond]

4. just spent late into the night talking to niece, two nephews and a friend of theirs

late teens early 20's about this.

[krabigirl]

14. Yep.

[KG]

7. this older american has reined in his dreams, too.

[Golden Raisin]

11. You're not alone.

I've yet to see young people out protesting in the streets (a la 1960s/1970s) but most seem to manage to have the latest technology (iPhones, iPads, iPods, etc.)

[ellisonz]

20. That's because if we did it would be a riot...

...we tend to have some technology for communication and school/work purposes. It is the 21st century after all! The cost of such items is minimal compared to the cost of education/trade school/healthcare/transportation/housing.

Times have changed.

[KansDem]

9. "...marriages put off"

Conversely, I wonder how many divorces have been "put off" due to finances.

I wonder how many couples are miserable because divorce is too costly.

[n2doc]

10. I wonder why they would need to put a marriage off

Getting married is cheap. It is getting divorced that is costly.

Unless, of course , you just have to have one of those gigantic monstrosity weddings with tens of thousands of dollars in expenses.

[Worried senior]

12. Yes, us older ones have put off our dreams too

this isn't the retirement I had planned. We're better off than a lot of people but everyday is a struggle, we had hopes and dreams too that will never be.

[femrap]

13. And couples should

seriously consider reproducing. Adopt a pet first. So many don't even question all the societal pressure that is placed on them to become parents. There is no bigger responsibility and one should really question if that is a responsibility they truly WANT.

[elias7]

15. I want it and I want it now

I'm confused. This 20 year old says that "You can't reach for the stars at this point,". There's really nothing stopping her from her stated dream: work for a non-profit, get married, buy a house. I wouldn't really call that reaching for the stars. But if anyone does want to do so, there's nothing stopping them from getting their MBA and getting a job on wall street.

I'd rather be starting in tough times now, instead of nearing or in retirement or a dozen or so years from it, as these populations have a huge reason to be worried.

We all aim lower after a few years anyway, once we realize expectations and reality may not be in sync. That is hardly unique to this upcoming generation.

[coalition_unwilling]

16. Poet Langston Hughes said it best:

What happens to a dream deferred?

Does it dry up
Like a raisin in the sun?

Or fester like a sore--
And then run?

Does it stink like rotten meat?
Or crust and sugar over--
like a syrupy sweet?

Maybe it just sags
like a heavy load.

Or does it explode?

[flamingdem]

18. It wasn't much better for tail end Boomers who largely missed out on Real Estate gains

They call them the sandwich generation. The older Boomers gained from Real Estate but later buyers didn't much - as well as higher costs for everything and extra costs for parental care.