Millennials Born In 1980s May Never Recover From The Great Recession

Read the Story

Show Top Comments

We could if the established systems were allowed to fail when they fail. Recovery is easy when everything crashes to be very cheap. Keeping the current owners wealthy is the goal of the current powers that be, not creating an equitable economy.


Apparently the question “which one?” was too short a reply. Assuming we are in the early stages of yet another “once in a lifetime” recession (I maintain cautious pessimism), it’s clear that, no, Millennials will never recover from the first of our great recessions. Given that underlying features of our economic system have not changed much since 2008, regarding overall leverage, job insecurity, weak pay, high inequality, and endless political dithering, I expect further major recessions and crises to come. We cannot recover when we exist in a system that is almost designed to throw up constant crises in our faces as we try to.


I think it’s important to note that wage stagnation plays a major part in millennial failure to build wealth. The only way many millennials have been able to afford property is through generational wealth which just widens income inequality among class lines. It’s a deep hole, and there seems to be little legislation to offer relief.


Been working at a white collar bank job for 5 years now and my salary increase is always lower than inflation. Problem is not “The Great Depression” it is how little our wage changes for decades(yearly salary increase should be the same as inflation). The only way out is re-education or invest into assets because they appreciate with inflation. My grocery is so expensive now compared to a few years ago it makes me depressed. Millennial like me are screwed over because our value is diminishing silently in the background.


Imagine 10-20 years from now, when jobs are less secure for aging millennials and another recession hits.