Originally published at: Credit Card Debt Skyrocketing Among Millennials | Infostormer.com
Millennials are increasingly relying on credit card debt just to pay for basic essentials.
This is sad but a very important read. Credit card debt is skyrocketing with 30 year olds. COVID money is being depleted, inflation is eating away at savings, and many expect recession is headed this way. Biden is going to impoverish an entire generation. https://t.co/z9EjAsH3xe
— Jimmy Patronis (@JimmyPatronis) February 25, 2023
They’re not the only ones with credit card issues.
Half of millennials and Gen-Xers now have more credit card debt than savings.
Nearly half of Millennials, Gen Xers have more credit-card debt than savings https://t.co/YgZBgycy3N pic.twitter.com/jgU5CcgM4k
— The Hill (@thehill) February 25, 2023
Millennials have been accused by older generations as being lazy, entitled etc.. but they’re largely victims of boomer decadence and depravity. They grew up in an economic, societal and spiritual wasteland that has only gotten progressively worse with time.
One could argue that the 2008 stock market and economic crash was at least in part a result of boomer decadence and excess. This was a time when many millennials were just starting out in the workforce.
Even before that you had the fallout from the dotcom crash of the late 1990s. As a result, millennials never really had a chance to work inside a truly stable or growing economic environment.
The combination of this and the virus hoax has made it very difficult for the average millennial to establish themselves financially.
When boomers were in their 20s and 30s, they could get an entry level job out of high school and have enough money to buy a house and raise a family. Such opportunities are fantasies today. You basically need at least a six figure job to live a stable middle class life these days. But even that is coming into question with the rampant levels of inflation that exist.
It’s a total mess. Maybe a nuclear war could solve it. At least that way everybody would be reset back to zero and they could get a fresh start.