Last updated on August 26, 2020 10:56 am
Bashing Millennials has become a common thing in America. People say that the Millennials are entitled, spoiled and glued into their smartphones all the time. Some people even say that the Millennials are not good at getting a job even until they are 30. But when you deep dive and take a look at the facts, you will figure out that it’s not the Millennials who should be blamed, but Boomers for creating the current situation in country.
Boomers have contributed heavily to the prevailing economy of America
People in America have to overcome numerous struggles when they want to get a job. On the other hand, students in America are drowned in debt and there is no solution visible to it as of now. In fact, the economy of United States is trying to climb into the correct ladder.
Baby Boomers still take a look at that economy and say that life is good for them as it has never been before. Hence, Boomers tell Millennials that there is no need to worry about being unemployed until the 30s. However, the Millennials say that it is Boomers who have led economy towards such a struggling situation.
When we compare these two arguments, it is clearly identifiable that the Millennials are correct. America suffered from the Great Recession and the financial panic a decade ago. People who were getting into the job market after Great Recession were the ones who experienced worst consequences. It took a considerable amount of time for the unemployment rates to go down as well. Even as such, the Millennials had to compete along with the experienced and veteran workers in the industry. This created a variety of implications to instability of the economy. As per the Millennials, it was quite difficult to recover from such a situation.
Millennials are suffering from student debt mainly because they cannot find jobs. In the meantime, most of the Boomers expect their younger generations to obtain loans and attend college. In fact, they have created an economy, where the Millennials will not be able to get any job without being graduated.
The Boomers have not been able to fund Millennials to support their education as well. This is the main reason on why they go for student loans. There is no better alternative available for the Millennials to think about.
How did the Boomers ruin economy of America?
The economy is already ruined and it is worthy to take a look back and see all the factors that contributed towards it. This is where we notice that some of the economic policies created by Boomers have led the economy towards current situation we see. On the other hand, the attitude of Boomers has also played a major role behind what we can see as of now.
It is true that there have been instances with economic challenges in the past as well. For example, stagflation that took place during late 70s is something that Boomers had to deal with. This created a massive mess during the early 80s. Even though the Boomers were able to recover it, they didn’t do it in the best possible way. That’s why we some of its negative effects even as of now.
Boomers didn’t change their attitude on how some of the policies must work. This made them develop economic centrism. Most of the Boomers were concerned about ensuring protective power of the country. While trying to achieve that, they created a negative impact on the productive power of the market. This gave life to most of the negative effects that we are facing as of now. This need contributed a lot towards the policies that were produced during 90s as well. Along with these policies, the Boomers tried to steer most of their investment opportunities to complement only one part of the economy. In other words, the main focus of the Boomers was to focus only on the tech economy. This is one of the biggest reasons behind economic instability that we see as of now. If it didn’t happen, things would become much favorable for all the Millennials.
The individual politicians who belonged to the generation of Boomers made numerous mistakes with their investments as well. They didn’t have a good vision about future when they went ahead with investments to ensure the betterment of economy or the country. However, the entire Baby Boomer generation is responsible for this because they are the ones who voted for the politicians and who elected the politicians. Hence, we cannot say that the politicians came up with new ideas on their own to abandon public infrastructure and invest more money on labor replacement. They did what Boomers were looking forward to see.
Should Boomer’s be blamed for America?
Yes, based on the above arguments, we are clear whom we should blame. It was the Boomers who contributed towards the struggling economy that America is suffering as of now. Millennials are now forced to experience all the negative consequences that come along with them. Therefore, it is the responsibility of the Boomers to work along with Millennials and provide them with support and assistance needed to overcome the negative consequences. This will ensure the betterment of economy, which can help the Millennials with building up their lives.
In the meantime, we believe that it is important for all the Millennials to go back into the arguments, without assuming how the Boomers have created a negative impact on the economy. Then the Boomers will be able to learn the lesson on what should have been done. It is never too late to do the correct tings and make the economy thrive. Hence, we believe that it is the path that all the Millennials should follow.
There is no point in blaming the Boomers for anything and we will not get any positive returns out of it. But if we can learn from our mistakes and correct them, we can experience positive returns.