What Makes Millennials Disturbingly Different?

Tyler Durden's picture

Authored by Gordon Long via MATASII,

In stealth fashion millennials are rapidly transforming society.

Something had mysteriously changed during the 2016 US Presidential primaries when an unlikely democratic candidate burst on the national scene with an unquestionable allure for the Millennial generation. How was it that a 'left wing' Bernie Sanders, who was of an age that he would be considered as a very old grandfather by this young generation, could draw such rousing support? What was it about this grey haired unknown senator from Vermont who so clearly represented the expectations, aspirations and frustrations of this new 'coming of age' generation?

Millennials have silently emerged as a powerful and influential force because of their size and because of how contrasting their beliefs are from versus previous generations including only slightly older Gen-X.

Millennials have surpassed Baby Boomers as the nation’s largest living generation, according to population estimates recently released by the U.S. Census Bureau.  Millennials, defined as those ages 18-34 in 2015, now number 75.4 million, surpassing the 74.9 million Baby Boomers (ages 51-69) and Generation X (ages 35-50 in 2015) is projected to pass the Boomers in population by 2028.

Very importantly, the Millennial generation continues to grow as young immigrants expand its ranks which presently account for over 15% of the total.

 

What Makes Millennials Different?

The Millennial  generation grew up during an era of unprecedented changes and shocks which have profoundly influenced their views and choices:

  1. Millennials are older in household formations  when they marry and have children compared to previous generations,
  2. Millennials have student debt loads that define and significantly frame this generations financial choices,
  3. Millennials are more educated than any previous generation as defined by percentage with undergraduate and post graduate educational attainments,
  4. There is a much more foreign born component of the millennial generation at 15%, than any generation going back to the early 1900's European immigration wave to the US,

  1. Family is much more important as a result of changes in parenting since roles such as fatherhood have taken on more involvement, youth event participation and inward family cocooning. A 1997 Gallup survey found that 9 in 10 children (a population comprised entirely of Millennials that year) reported high levels of closeness with their parents and were personally happy with that relationship. Their tight relationship with their parents extends to work, where some companies report establishing relationships with parents of their Millennial employees. The Millennials’ close relationships with their parents might be related to the greater time they spent with their parents growing up. According to Pew (2014), hours spent parenting have increased for both fathers and mothers, tripling for fathers since 1985 and increasing by 60 percent for mothers. These increases have been particularly pronounced among college-educated parents, with college-educated mothers increasing their childcare time since the mid-1990s by over 9 hours per week, while less educated mothers increased their childcare time by only over 4 hours per week.

  1. Millennials are much more pronounced to move to Urban centers versus being interested in Suburban living,
  2. Millennial are the most technology-centric generation yet, as they came of age in  the era of the internet / smart phones and fully embraced social media to change how they communicate and socialize,
  3. Millennials also came of age during developments that deeply shaped their sense and need for security.
    • 911 and  the emerging reality of terrorism in the US,
    • Iraq and Afghanistan Wars where fellow students fought,
    • School shootings across the nation and the security changes required,
    • Corporate Downsizing, Right-Sizing and Out-Sourcing which effected their financial security of the family,
  4. The Millennial generation has a much larger sense of "entitlement" since they were often raised and educated with a sense of "you deserve" versus "you earned",
    • Millennials believe student loans should be forgiven and is one of the reasons Bernie Sanders was so popular,
    • Millennials are much more tolerant of others and cultural differences and react strongly to hate speech, threats and racism
  5. Millennials earn 20% less than Baby Boomers did at their age.

All of these differences are now being felt as the Millennial generation becomes an increasingly larger component of the US economy.

Three Major Economic Ramifications:  My Macro Analytics Co-Host Charles Hugh-Smith believes these differences are being witnessed by the following three Economic ramifications:

1.  Urban vs. Suburban Living

The Shift:

  • Millennials favor foot-traffic urban shopping/entertainment/dining districts,
  • Millennials favor streets with high densities of venues, cafes, brew-pubs, etc. which are safe and close to mass transit,
  • These urban districts are expanding in small cities, college towns, etc.
  • The experience is as important as pricing: Millennials value convenience and a variety of experiences, not just convenience and price.
  • Long commutes and suburban shopping malls are not convenient to Millennials
  • Home ownership rates are falling due to the very high cost of urban-core housing,
  • By choice or necessity Millennials rent rather than buy,

The Economic Ramification:

  • Future Single Residential Housing Requirements may be less and housing prices exposed as Baby Boomers leave their homes for Assisted Living or Nursing Homes.
  • Boomer wealth is largely tied up in costly homes--who will buy these houses as Boomers sell to downsize/retire?

2.  Auto and Light Truck Sales

The Shift:

  • Millennials favor Uber and Car-sharing over auto ownership.
  • Urban living and avoiding longer commutes reduces the need for auto ownership.

The Economic Ramification:

3.  Retail Shopping and Retail Commercial Real Estate

The Shift:

  • Millennials favor the convenience of online shopping,
  • Millennials do not find value in big suburban malls
  • Millennials often work a lot of hours and don't want to waste time commuting/driving to suburban shopping.
  • Hard to beat the easy return policy of Zappos and Amazon or the value of free delivery via Amazon prime,

The Economic Ramification:

  • The future of the Mall is likely limited as well as many "brick & mortar" retailers.
  • America is the most highly over-stored nation in the world. Excess retailing space is a massive future problem
  • Amazon has reached critical mass and as Millennials continue to dominate, online procurement and delivery will continue to accelerate.

 

Three Major Social Ramifications:  Though it is too certain to know for certain, indications are that there are a number of social ramifications that can be expected as a result of the advent of the Millennial Generation.

1.  Physical and Financial Security

The Shift:

  • Millennials place a higher value on physical and financial security as a result of the era they grew up in,

The Social Ramification:

  • Millennials will be willing political to sacrifice personal freedoms if it is perceived that it will allow government agencies to better ensure this.
  • Security-Surveillance methodologies and technologies will become an increasing larger way of American life.
  • Millennials are likely to be "savers" in a much larger way than the last two generations.

2.  Government Entitlements

The Shift:

  • Millennials  overwhelmingly believe student loans are unjust and should be a government entitlement program.
  • Existing student loans should be forgiven and paid by the government.

The Social Ramification:

  • Candidates that run on a platform of student loan forgiveness will be elected.
  • Candidates that run on platforms of Social Security and Medicare means testing will have wide Millennial support.
  • Generally, Millennials will be more 'left leaning' as demonstrated by Bernie Sanders.

3.  Less Materialistic

The Shift:

  • Millennials having grown up with most of their needs being met are less inclined to seek satisfaction from materialism and pursue wealth accumulation.
  • Millennials are more inclined to be motivated by notoriety & seek political influence. This stems from their roots in social media,
  • This is a trend that has been seen in other countries when opportunities for wealth  creation become more restrictive.

The Social Ramification:

  • Millennials will place in jeopardy the US economy being a 70% Consumption economy

The biggest long term ramification may be the last. The era of the US economy sustaining itself via consumption may die as the Millennials become the economy! Their motivations and expectations are completely different than any prior generation and the changes will be profound.

Charles Hugh Smith concludes that there may be a consequence which is a even bigger question.

He asks: "Can our financial system and debt-burdened economy enable the sort of life the Millennials seek, or have we run out of room to transition to a lower consumption lifestyle and still service the growing mountain of debt?"

His conclusion: "It seems to me that the Millennials will have to navigate a system re-set that few of them seem to anticipate!"

WHAT IS OFTEN DUBBED "THE SNOWFLAKE" GENERATION

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Anarchyteez's picture

They're disturbingly useless pussy's.

nope-1004's picture

I live in ma's house.

Cash me ouside, how bout da?

 

Gold...Bitches's picture
What Makes Millennials Disturbingly Different?

They're fucking communists.

Franklin Mint Chip's picture
Franklin Mint Chip (not verified) Gold...Bitches Apr 7, 2017 7:49 PM

So everyone born between 1980 and 2004 is a communist pussy? For some reason I find this hard to believe.

Bumpo's picture

What happened to Generation Y. My kid is 14, Grounded, and laughs his ass off at Political Correctness, fully enjoying 'Dank Memes' that make fun of everything, including Alex Jones and Black Lives Matter Fagotry

Shocker's picture

This article is pretty scary.... We have created these Millennials and then allow them to say oh I'm a Millennial don't expect much... Sad Sad

Layoff List: http://www.dailyjobcuts.com

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toady's picture

I'm gonna need some definition here.... millennials are a thirty year generation? GenX was roughly 65' to 75'... so millennials are from 75' to 05'? Wasn't there a genY in there somewhere?

Shocker's picture

I guess they call them Homeland Millennials now.. Thats a new one

toady's picture

I guess it helps to read the chart.... looks like they cut genY in half and gave half to GenX (75' to 80') and the rest to the millennials.

Who comes up with these definitions? Baby Boomers a twenty year generation, GenX fifteen, then millennials 25? Seems like simple math gone wrong to me....

Curiously_Crazy's picture

But even that doesn't really work. They've shifted the dates too.

I was always in the middle of Gen X but now I'm at younger end! No way would my mates in their late 20's and early 30's be considered millenials.

stizazz's picture

What makes Millenials different?

If you teach them they're descended from monkeys, they'll act like monkeys.

http://biblicisminstitute.wordpress.com/2014/10/02/x-men-and-the-theory-...

sincerely_yours's picture

I feel sorry for America's future.

Big Twinkie's picture

Something wrong with the data: The "Projected Population" chart defines Millenials as being 18 to 34 years old in 2015, yet the chart shows that their population will increase from 75 million in 2015 to 81 million in 2036.  Is this due to cloning or do we have 6 million hidden away somewhere?

Abitdodgie's picture

Have any of you actually read the article?

Riga's picture

The first to reply, rarely.

The Dreadnought's picture

It fits the wanted narrative.

solidus's picture

Exactly, if you define the generation as encompassing 20% more time than other generations, of course you can extrapolate all sorts of consequences, even if birth rates are decreasing.  Having said that, they definitely think and act much differently than other generations.

snr-moment's picture

yup.  they bumped the "millenial" generation to 24 years (gen x being 15) because they could induce group think, knowing that young people think (ie. are told repeatedly ad nauseum) they are supposed to vote democrat.

It's the opposite of divide and conquer, but it also works.

LauraB's picture

It's still divide and conquer. It's identity politics with the author making an arbitrary division between 'generations' most favorable to his desired outcome.

Yog Soggoth's picture

I think thats when you look at the financial /other condition of the family unit, and ask, "why on Earth did you have a kid". That spans all time.

jeff montanye's picture

may not have to wait for even 2050 for world population to peak and start down.  2035 may be it if the economy keeps slowing and the younger population keeps deferring parenthood.  between that and rothschild's eighth wonder of the world (compound interest) you've got a real rock and a hard place.  

i voted for trump because he was less likely than hillary (apparently by two months) to attack syrian and russian military assets, even realizing his economic policies, especially trade and immigration, were likely economic growth negative.

the last two paragraphs here are on point: https://www.hussmanfunds.com/wmc/wmc170403.htm

HopefulCynical's picture

the last two paragraphs here are on point:

... increased immigration of high-skilled workers (who have a multiplier effect on both national income and employment); a substantial increase in the number of H1B visas...

On point for the banksters, maybe.

raub710's picture

your kid is generation Z... the millenials are generation Y

Riga's picture

I prefer the term Generation Y (I'm X) to millenials, but there's no way I'm going to call the generation after that (Z) the Homeland Generation. (I don't call the "elites" that either.)

ZorbasStep's picture

Above they call that the Homeland Generation,  your kid possibly being an early example,  a leader of it,  a precursor.    Not much has been written about them,  but thanks for mentioning the "Grounded, and laughs his ass off at Political Correctness, fully enjoying 'Dank Memes' that make fun of everything, including Alex Jones and Black Lives Matter Fagotry" which I am also noticing as young as 9 year olds.   

kw2012's picture

Gen Y was a flash in the pan, they got swallowed up and blended in

skinwalker's picture

People who hate millenials need to hang out with the young adults in a small farm town.

Also keep in mind that with most asset prices at nosebleed levels and the game totally rigged, the smarter youngsters realize the only way to win is not to play.

And yeah, I'm a millennial, my wife is a millennial, and I'll match my accomplishments against your any day.

But yeah, I see how it's fun to blame 25 year olds for problems that started 50 years ago.

Joyo Bliss's picture

I don't like labels, either.

NidStyles's picture

This shit started far longer ago than 50 years.

 

The Jews have been fucking with European societies since before the Greeks were an empire.

skinwalker's picture

Agreed, but I think most of us here would agree that the decline of America started in the late 60's.

Laowei Gweilo's picture

>>> 2.  Auto and Light Truck Sales

The Shift:

  • Millennials favor Uber and Car-sharing over auto ownership. <<<

 

I wanna see the receipts !

 

OK, sure, we probably favour car share more than other generations... but I call BS on 50% +1 of ALL people born between 1980-99 actually favouring fucking uber and car2go

 

 

Gargoyle's picture

You're both right.

The creation of the Fed began the economic collapse.  The Summer of Love was the catalyst for the cultural decline.

techpriest's picture

The larger Western decline started with the Enlightenment, or perhaps, Endarkenment, and it really got going under Marx. Once all cultural and economic institutions were labeled as sources of oppression, it was only a matter of time before a declining culture started making ever-increasing shows of debauchery and ignorance.

The truth is, we're riding cycles that span centuries. However, we can carry the best parts of our culture through to the next civilization.

Okienomics's picture

Western decline started with the enlightenment?  'Cuz, you know, pretty much everything was GREAT during the inquisition.

PresidentCamacho's picture

Spanish inquisition was bretty awesome.  Thanks

snr-moment's picture

which, oddly, began in 1492.  so you're almost there.

The_Dude's picture

Spanish inquisition was just Europeans doing what was needed to take our the trash (Muslims+Jews).  Don't worry. ..it will come again and this time will likely be the last time it is needed. 

Uncle Skid's picture

It started with "Entitlement".

Yog Soggoth's picture

Really started up again in 1863. Banks started passing out paper without backing, bad loans, same story until the panic of 1907. It all boils down to, If you can't afford it, you don't need it!

Stuck on Zero's picture

Our millennial engineers are quite a breed. They do not like to read. They want their views recognized even when they don't know what they're talking about. They are used to being rewarded just for showing up. Very often they just disappear.  They take time off work every few months to travel the world ... even when there are deadlines. None of the young white women are getting dates or married. They are too bossy, self-centered, intolerant, and moody.

Abbie Normal's picture

So maybe spending 10 hours a day staring at their mobile device doesn't result in a happier lifestyle?

vato poco's picture

perhaps if your company had faster WiFi?

Deplorable's picture

Millenials that I work with (coders) are self absorbed in internet games and apps. They are constantly on line while they work(?) trading videos and touting how proficient they are at gaming.  Always bragging about how many shitcoins and avatars they have won.  They accomplish about 25% of the work that my boomer co-workers did 25 years ago.

Big difference, we did not have the internet to distract us.  Our work was our motivation.

I can't wait to retire and get out of this looney bin. 

PresidentCamacho's picture

Deplorable.  another note , pay was better 70 years ago when you were in your 20s. Remeber you could buy a house , car,  and keep a woman on one earmers wages programming those punch cards in the model t factory. Now we gotta compete with every Muhammad, pajeet and haime that will work all day for a bowl of rice amd a pat on the head . Amd you boomers keep importing them.

BOOMERS

The i got mine fuck my kids let the mexicans outbreed em generation. 

 

Boonster's picture

You and me both. Four more years and I'm off to Thailand. The Millenialls can fund my social security while I take Viagra and attempt to chase Thai women around.

Hyjinx's picture

Ya, American millenial women are cunts in general.  European millenial women are much better from what I can tell but still a bit more fucked up then previous generations.

Your troll's picture

Sure sound like a bunch of misogynistic males sucking on each other dicks, and stroking on each other's bruised egos.

PresidentCamacho's picture

Domt call me male you fucking bigot