A generation accustomed to financial challenges is dealing with their recession fears through wry TikToks and by swapping cost-cutting suggestions online.
Millennials are worried they are about to experience a “once-in-a-lifetime” recession. Again.
Dire economic downturns are supposed to be rare, but millennials — defined by the Pew Research Center as those born between 1981 and 1996 — have already had several recessions during formative stages of their lives, from the dot-com bubble burst when most were children, to the Great Recession as they entered the workforce after college, to the Covid-19 pandemic when they were trying to settle into their careers.
Once dubbed the “unluckiest generation,” millennials have postponed major milestones during past recessions. A significant slice of them graduated college between 2007 and 2009 and struggled to find jobs, which led them to delay buying homes, getting married, and making major purchases, such as cars. Then, after the pandemic led to another sharp recession, some millennials, contending with student loans and rising costs of living, decided to rethink having kids.
I mean, why would anyone want to live in Venezuela as a life choice? Typically, those who would really like to leave don’t have the means to, and those who have the means to leave don’t have a real reason to. This current shake up is concerning, but you have to also understand that most people’s lives don’t revolve around the actions of the federal government. They revolve around the social connections they’ve made, the physical things they own or have built, and the places that they know and call home. Leaving means losing all of those things. And my perspective, as a blue tribe member in the US, is that most of my friends are watching this unfold with a worried grimace, but with an assumption that we’ll oust the dumbass from office in the next election and begin the work of rebuilding what he broke. In the meantime, they are worried about raising their kids, fixing up their houses, building their businesses or advancing in their careers, going on dates and finding partners, staying fit and healthy, and all the other things people really tend to spend their time thinking about.