Did Wall Street Bail-outs Plant the Seeds for Millennial Socialism?
Translation; people are starting to lose hope
Millennials Prefer Socialism over Capitalism
A recent Gallup Poll found that 51% of people under 30 view socialism in a positive light. Meanwhile, millennial views on capitalism have been trending downward for years. In 2010, 68% of young people viewed capitalism in a positive light compared to just 45% in 2018.
This in stark contrast to those 50 and over who are twice as likely to have a positive view of capitalism versus socialism.
The Economy is Booming, but Young Americans have been left Behind
There are four things acting as financial anchors for young people.
1. The cost of obtaining a degree has skyrocketed
2. As has the cost of housing
3. Meanwhile, wages have been sticky and;
4. Young people today do not enjoy the benefit of pension plans
The Student Loan Debt Problem
There has been no shortage of media coverage on the student debt problem in America but let’s quickly review the numbers.
