"Depressed" Millennials Are Convinced The Trump Economy Is Going To Implode

Tyler Durden's picture

When asked about the economic outlook for America, millennials were the only generation to predict 2017 would be worse than 2016. As Bloomberg reports, the feeling of impending doom wasn't exclusively reserved for 2017: about a third of millennials surveyed said they don't think they'll have enough money to comfortably retire at all.

While the new year marks a fresh start for many, millennials aren't so optimistic.

In fact, this generation is the only one to say they're feeling worse, financially, about 2017 than 2016.

As Bloomberg details, in the days following the election, Country Financial Group, an insurance and investment firm, conducted its annual financial security index and found that the score was lowest for millennials, defined as those between 18 and 34 years old, at 60.9 (the highest score is 100).

To determine its score, used a survey that asked over 1,000 Americans questions about their financial stability, like whether they had savings, or if their assets were adequately assured. Independent research firm GfK collected the data. Generation X-ers, (people aged 35 to 49), had a score of 66.6. Boomers (between the ages of 50 to 64) came in at 69.2. The Silent Generation, defined as those over age of 65, had the highest score at 71.2.

As Bloomberg notes, given that the poll was conducted in the days following the election and millennials overwhelmingly supported the losing candidate, these survey results might be swayed by some election-related depression.


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Raffie's picture

Since they still young don't use a full size bat to knock some sense into them.

Use the Fish Knocker.

unrulian's picture

Millennials can go fuck themselves.

Yours truly,

Gen X

toady's picture

What they don't seem to understand is that the Obama economy will go on for around four more years... then they can start calling it the Trump economy. 

Pinch's picture

Breaking News: Zh Drones Convinced Preznit Tramp And His Merry Band Of Billionaires Will Right All The Wrongs That Beset Them.

Psychological help sought for these deluded folk.

nuubee's picture

GOOD NEWS MILLENIALS, YOU'RE RIGHT!!... unfortunately for your worldview it has nothing to do with Trump and everything to do with Banking.

Restorative_Ally's picture

^This

Anyone think DOW 20,000 ends well? Don't let the fact that Trump won blind you from mathematical inevitability.  

I'm a millennial (technically) and I can't stand most of them either.  

Ballin D's picture

The world has gotten a little worse each year of the millennials' adult lives.  Can't really blame em for being pragmatic.

Antifaschistische's picture

pragmatic!!!  look at their spending habits!!!  

look at their credit card bills every month!!!  

look in their damn driveways at their cars totaling 100% of their annual combined incomes.

look at their Vet bill since she's GOT to have one of those token miniature dogs.

I'd like to meet that "pragmatic" millennial because I don't know one.

No_More's picture

If you change the cars to cell phones I can upvote you Antifaschistische. Most of the millenials I know have spent it on edu debt, cell phones, credit cards, maybe a 'toy' like a purse pet or a video game system or cheap disposable fashions from the low end mall stores.

But as a generation, they don't make enough for the 2 pricey cars, the house/townhouse/condo, the better made designer clothes...that would be Baby Busters/GenX who also don't make enough for that stuff but have financed it anyway. We busters as a generation still bought into that to a much bigger degree than millenials.

old naughty's picture

b,b, but the Economist 2017 cover had 13 millennials expressed positive views towards the "world" (NWO !)

so, faked the truth !

 

imho, most millennials will be here long after we're gone, so shut the fxxk up, unless...

No_More's picture

Change 'pragmatic' to 'aware' and I can agree with that Ballin D. The millenials are on balance not all that practical/pragmatic and in some ways we all have allowed this to happen (my Baby Buster / GenX demographic bears some responsibility for this as some of us are their parents...no I didn't have kids but I did see where parenting was going when I was old enough to be a parent and I worried then that we weren't doing right by them to experience some of the bad things in life to make them more practical and pragmatic).

Vampyroteuthis infernalis's picture

As a card carrying Gen Xer, I know the world is going to fall apart and it has NOTHING to do with Trump. It has been baked in the cake for a decade now. Millennials need to wake up and face the true enemy, the ingrained rulers in our society.

Why.Not.'s picture

Millenials have adult lives? Who knew?

greenskeeper carl's picture

Im a millenial, too. I, too, feel that this economy is going to implode, but I don't think it will be 'trumps economy'. Retiring? HAHAHAHA ya right. This titanic struck the iceberg long ago, all we are doing now is waiting for it to sink. Saying its trump's fault is stupid, and is letting a lot of responsible parties off the hook. But, my fellow millenials being as stupid as they are, they will probably just blame who ever facebook tells them to.

847328_3527's picture

Obama owns this implosion since he is handing the Trumpmeister a "shit sandwich" as some have called Obama's mess.

PT's picture

Obama received a shit sandwich.  But he did manage to hand over an even bigger shit sandwich.  Errr, assuming he actually does hand it over.

quadraspleen's picture

"I'm a millennial (technically) and I can't stand most of them either."

So's my daughter and neither can she.

bobbyjohnson's picture

lol you and me both it's like staring in idiocracy.

PT's picture

Welcome to the real world depressed millenials.  Now you can finally join the depressed Gen-Xers and depressed BBs who are also convinced that the economy is going to implode.  See nuubee for details.

P.S.  You just completed 12 years of education that included maths.  You should use it some time.  You may also need to get a little bit of data from you parents and grandparents.  Or listen to the nice lady.  She's on your team:
(Note:  For anyone who has read my rantings multiple times, don't bother clicking on the links - you have probably seen them before.)

https://www.youtube.com/watch?v=akVL7QY0S8A

and I have never known why she was on your team ever since she said this:

https://www.youtube.com/watch?v=12mJ-U76nfg

P.P.S.  Yeah, the economy is taking a little longer than expected to implode.  Using a pen, a piece of paper and some old data, you may like to try and figure out when it should have imploded.  Oh, and I'll let you use a calculator too.  Or even a spreadsheet, but only if you build it yourself.  Are we having fun yet?  See how those 12 years weren't a complete waste?  Whoever knew?  (errr, assuming you got as far as geometric progressions and a little algebra).

major major major major's picture

Those GenExers, Boomers and a few of the silents are good for my economy... the stupid ones are more or less the same from each gen... they buy cheap chinese shit and wonder why it does not work, they want things done imposibly fast (we'll charge more) and cheap (go get it from china) and rarely change the behaviour that led to the problem in the first place... I have no qualms taking their money... just can't find any good help... so we just raise the prices and make more profit... 

PT's picture

"We do three types of work.  Good, Fast and Cheap.  Pick two."

major major major major's picture

While in Bear analyst training

 

Question from new hire "is it better to get it done fast or correct?"

 

No joke... Bear was gone two years later...

sessinpo's picture

I upvoted you but I'm sure you do realize that the world has gone through severe economic contractions prior to banking and most certainly before the creation of modern banking or the FRB system.

We are far from the first empire to fall and we won't be the last.

TheWrench's picture

Limpbag as a Nazi is so 1990's.

NewHugh's picture

Pinch is just here trolling for attention cause his mommy wouldn't let him continue sucking her titties after he turned 20...

Tactical Joke's picture

I voted for Trump to send a huge "Fuck you" to people like you and the Blue and Red Team establishment.

Trump isn't the second coming, butif he's better than the last three fuxksticks, I'll call it a victory. Hell, a fucking retarded, dead, dumb, and blind kid that can play pinball is better than Zero.

You, sir, can go fuck yourself right where you breathe. Kthxbye.

Creative_Destruct's picture

Psychological help REQUIRED for Pinch.

Pinch's picture

Nope, they are beyond help

xavi1951's picture

It will implode, thanks to 8 years of Obomanomics.  Can't be avoided.  Obama will blame Trump and or Bush and MSM will follow the script.

Creative_Destruct's picture

If it implodes (and in complex adaptive systems like economies there is no guarantee it will or won't) it will do so due to the build up of years to decades of imbalances and resource misallocation, including those that accumlated during the Obama years and before. And whovever happens to be President at the time, Trump or someone else, will get the blame because the idiot masses and the press cannot distinguish between proximate and root causes. It's the same old song that has repeated throughout human history.

Offthebeach's picture

Cankles lost because she is a old, fat, suckup dork. Always has been. She was the ugly girl hanging around the cool kids. Plus she was fat, and low energy. Gramps Sanders was more lively.

She had the charm of Mike Dukakis, with the petty greed of Al Gore. Jon Kerry gave better speaches.

BabaLooey's picture

Indeed Toady...

HOWEVER....

THE FUCKING NANO-SECOND TRUMP IS SWORN IN.....TO THE IDIOT PRESS....TEE VEE...AND MILLIONS OF DUMB FUCKS...

It will be the Trump Economy.

Get ready for the Trump Tsunami of blaming him for everything....and Soetero love.

I can write the byline and start of comments now....

"Since Trump took office, things have gone downhill....."

Comments from assholes and dumbed down;

"Obama handed Trump a great recovery, and he fucked it up....."

FUCKING BANK ON IT.

PT's picture

True.  You need to remember:  Power is not given, it is taken.  TPTB are not going to simply walk away and they will not leave quietly.  They have ALWAYS been able to do as they please so losing is new to them.  They may need a few props to help them understand, and you'd better understand that they WILL call your bluff.  They always did in the past and that's how they got where they are.

The Wizard's picture

Whose economy? A perfect example how the terms, economy, capitalism, socialism, communism have been bandied about missing the core issue of centralization of transactions vs. decentralization of transactions. The educational system has done a great job creating descriptive phrases that explain nada. By placing the term "economy" under a persons name is how we got to where we are at with central control and applying Keynesian theory.

The parents of the millenials are a product of a defunct educational system which made them believe they are "smart" never learning how to apply critical thinking skills.

Paul Kersey's picture

The millennials were fucked long before Trump, and it's because the baby boomers (I am one) are the greediest generation in the history of this country. We have left them to deal with over a trillion in student loans, a future in which 80 million of today's jobs will be replaced by automation, and a country that is now the world's greatest debtor nation, with a debt that can only grow and strangle what will pass as future economy.

One of my millennial tenants, who, as a skilled subcontractor with a torn ACL, has been thrown off of Obamacare. He can't afford the monthly payments and the high co-pay. The $7,000 deductible pretty much renders the Obamacare as useless. So he pays the $750 to the USG to opt out. That's a 'fuck you' tax from Obama, that he has to borrow to pay.

This generation will never see pensions, and here's what they are seeing in jobs:

"Young Americans have many financial obstacles placed in their way. Many older Americans like to chime in and blast younger Americans as being weak and complaining too much but the facts tell a different story. Millennials do have it economically tougher. Quality of life is up (for all) but the standard of living is getting harder to keep up with. To achieve that middle class lifestyle that baby boomers achieved with very little education and in many cases a blue collar job now requires a two income households and mountains of student debt just to get there. It is also the case that young Americans are now living at home in record numbers because of economic necessity. Millennials are the most employed generation in food services and the military. What does that tell you?
Millennials and occupational choices

It is expected that younger Americans will largely take on some sort of jobs. But the number of Millennials in the military and food services tells you something deeper. Keep in mind that at one point, manufacturing would have had a big opening for young workers as it did with the baby boomer generation. So the options for many are: food services, military, or go to college to try to get into the middle class."

SwaziRed's picture

ACA aka "Obamacare" is a law. You can't get kicked off a law. C'mon, man.

http://obamacarefacts.com/affordablecareact-summary/

Oldwood's picture

We each have had our life experiences that form our perceptions. For me as a boomer, I have worked my entire life in construction eventually starting my own furniture fabrication business of which I still labor in every day at 63 years old. I have four employees, two of which are 60, one at 56 with bladder cancer and the youngest at forty. After having this piddly business for thirty years I have formed my own opinions and I DO NOT see millennials interested in doing ANYTHING that even smells of actual WORK. They all see themselves as infinitely creative while creating NOTHING and see actual physical output or measurable productivity as demeaning. Just my take after thirty years, and trust me, if I could find a younger person willing to actually show up and WORK, I would likely hire them...but I ain't holding my breath.

BabaLooey's picture

Spot on Oldwood.

I have YET to meet a milliennial that's worth the spit on the sidewalk.

None.

Oldwood's picture

Oh, I'm sure there are good ones out there but the few that are, are smart enough to avoid any actual labor. The rest of them just look at the few good ones and because of their "trophy entitlement" upbringing, simply assume they are being robbed of their life entitlement.

Few if any of us are sterling examples to be held in awe, but what made the difference for me was an upbringing that informed me every day of my youth that I would receive NOTHING without considerable effort, and not even then if luck was not going my way. Entitlement is a poison in the mind of people that tells them they shouldn't HAVE to try, that they shouldn't need to struggle and that struggle itself is an injustice. It is a GUARANTEE of failure, and if things continue, DEATH. Life is not a game and all of the delusion to the contrary has only made us MORE susceptible to really bad things happening.

PT's picture

I watched a couple of millenials go from rags to riches - barely out of trade school when they started, worked their guts out and now have half a ton of people working for them, so there is the exception "that proves your rule".  I hate stereotypes in any case but it is nice for me to be able to say, "Look!  I have proof that they are not all like that."

How did they do it?  Plenty of people work their guts out.  Not many make it happen.  Helps that they had "the right" customers and they were smart enough to service them properly.  One of them has a dad who is a banker so I wonder if that explains it.

zero_wedge's picture

Which trades did they study?

PT's picture

Electrical.  But I don't think it was so much as which trade as much as meeting the right people, having the right clients and servicing their clients properly.  But even that can not explain everything, hence my question of knowing the right banksters.  I doubt I shall ever be in a position to know or understand the answer.

2_legs_bahhhhhd's picture

Generally I would agree with you, but my daughter and her fiancé are definatly exceptions to the rule. She is the only one in her class of over 4000 that advanced to her PhD in science. She is smarter than most boomers of my generation, has always had a good paying job,and knows the value of a dollar. Her fiancé grew up on a farm and is one of the hardest working mofos I've ever met,few could hold a candle to him. I've noticed that kids that grew up in the country are light years ahead in work ethic, and sensibility than the entitled little shits from the big city.

I met another kid last night, he graduated with honours in economics, he was the black sheep in his program, he called bullshit on the nonsense his progressive teachers were spewing on campus, I'm guessing now he realizes that he picked a profession dominated by some seriously demented humans. I encouraged him to start his own business and go his own way or he would never be happy working for the establishment. he's smart enough to know I'm right, and that's the difference today and in my generation, most were too stupid to follow advice from elders that had real life experience. I feel empathy for the upcoming generations, they were euchred before the get go.

Paul Kersey's picture

I'm in construction and have hired millennials who have worked their asses off. These are the guys pouring cement, framing the houses, doing the electrical work, plumbing and doing fine trim carpenter work. Here in the South, we have millennials who have grown up with hammers in their hands.

On the other hand, painters, drywall guys and roofers pretty much all speak Spanish. The last time I saw a native English speaking man on a roof was in a movie, and he was playing a fiddle and wearing a beanie on his head. There are just some jobs that no natural born Americans want to do.

Offthebeach's picture

Im in New England.  Been pounding nails since before nail guns.  I see two types of companies.  Dead serius that demand and get their price and are all pro, nearly all American.  You have to try out to join.  The crews are paid well and get a piece.  

Then I see the fuk up crews, the substance crews, the guy who litterally couldn't screwgun a screw gun into a stud but now is a "builder"

 

You don't get what you don't pay for.  Good productive, reliable trade that can problem solve is expensive.......and...hard to find.  Most are well kept and smartly won't risk the opertunity loss to jump ship for a few bucks to work or lead a fukd up crew.

Think about it.  

Show up ready to go, or ahead.

Ice, snow, rain, wind, heat...work.

With power tools.  Up high. Noise, dust, dirt, blood.

To within +/- 1/4" on 60', cause we all got lasers now.

Retirement? Nope.  Vacation.   A little.

FedRes TBTF recession?  Out, no, starve work for years.

 

So I see the successful, still in buisness companies treat there star crews like hard to find professionals.  Imagine that.

DipshitMiddleClassWhiteKid's picture

ha, you sound like my dad

 

why would i want to go work for some old crotchity fuck like you who probably pays a nigger wage to begin with. 

 

What exactly is hard working going to do for me? How am I going to afford to pay rent or buy a house, while working as an apprenctice for $11 an hour 

 

Im a jew but wasnt raised by "zios" but now as I get older, I totally understand why the jews call you goyim.

 

Bulding furniture sounds like a nigger job to me.