I'm in a posting mood. This mood won't last, so I'm striking while the iron is hot.
Anyway, as I was looking around the intertubes this morning, I ran across this item at Zerohedge, which is not a favorite website of mine because the anonymous posters over there are doomer attention whores who rarely document their stories. Zerohedge is the Huffington Post for pessimists.
But this article made some good points and had a few working links to outside sources. Mostly the article had internal links to other Zerohedge crap, like this broken one to the WSJ "source" of the graph below.
"Tyler Durden" (sigh) noted that millennials (those under 35) have a negative savings rate, which means, in the long run, they're even more fucked than they know. This is from WSJ Source, which took me 15 seconds to find.
After a flirtation with thrift after the recession, young Americans have stopped saving.
Adults under age 35—the so-called millennial generation—currently have a savings rate of negative 2%, meaning they are burning through their assets or going into debt, according to Moody’s Analytics. That compares with a positive savings rate of about 3% for those age 35 to 44, 6% for those 45 to 54, and 13% for those 55 and older...
“In the very near term it’s a plus for spending and economic growth, but in the long run these households are not saving, and that will impair their ability to spend in the future,” said Mark Zandi, the chief economist of Moody’s Analytics who calculated the numbers with Moody’s economist Mustafa Akcay.
Let me ask a simple question:
Is it too much to expect that humans use the internet the way it was intended to be used?
Yes, it is too much to fucking expect because documenting stories isn't compatible with greed. If you leave the Zerohedge website, you won't see the intrusive advertising slathered all over it.
But I digress.
Zerohedge did manage (accidentally?) to include a working link to a pre-election message to millennials from Hopey-Changey himself (i.e., it had his byline). This is some fine bullshit, so let's quote it.