Remember, it’s not a depression or even a recession. It’s a recovery. Just close your eyes and repeat it to yourself as many times as it takes. Don’t pay attention to anyone who disagrees. Just say it to yourself, “Recovery, recovery, recovery” and like a wish, it will come true.
At least that’s the editorial philosophy of the New York Times. Meanwhile in the real world, the next generation doesn’t have a foothold or even a handhold in the economy.
59 percent of those aged 18-29, have gone to college. but only 62.9% are currently working, of which 31.2% work on a part-time basis
59.2 percent are white; 19.9 percent are Hispanic; 13.5 percent are black; 5.1 percent are Asian; .7 percent are Native American; and 1.5 percent are multiracial or “other.” 27.3 percent have immigrant backgrounds.
Less than 20 percent aged 18-24 percent are married. Of those 25-29, slightly more than 40 percent are married, but that is down 80 percent from 1960.
These numbers paint a picture of a dysfunctional society as well as a dysfunctional economy. The Baby Boomers failed Generation X and Generation X failed the Millennials and the Millenials show every sign of carrying on the tradition.
Generation X in politics has shown itself to be even worse than the Boomers, stuck on its own cleverness with no substance, agile at marketing themselves, but incapable of distinguishing their fantasies from real solutions. The Millenials are likely to be an even worse of Generation X, just as Generation X was a worse version of the Baby Boomers.
Cultural decay has led to economic decay and the United States looks a lot like a failed state, spending fortunes on massive government projects while its youth have no jobs and no hope for the future and their only career direction is party membership.