Submitted by Stock Board Asset Management
Last week, Gordon T. Long and Charles Hugh Smith discussed in an interview of the current generational shift occurring in the United States. The interview is called Called Millennials: A Menacing Metamporsis. To note, both Gordon T. Long and Charles Hugh Smith understand their baby boomer generation is the status quo, and is currently being uprooted by the millennials, who are slated to take the reins in the next 8 years. In my opinion, this should be coined the ‘clash of generations’, where ultimately the millennials will be stitching their beliefs and ideas on the American fabric. As expressed in the interview, the status quo is underestimating the serious ramifications of this generational shift.
General shifts in America are completely normal and have produced serious economic and or social consequences through time. One of the best blueprints and guides of generational shifts is the Strauss–Howe generational theory explaining the four cycles of with-in a full-generation (80-100 years). In fact, starting in the 2007/2008 period, Strauss–Howe generational theory explains how the United States started the generation shift called the Fourth Turning where the old older is destroyed giving light to the new order i.e. Millennials: A Menacing Metamporsis.
The interview touches on 10 important points of how the millennial beliefs and ideas will change the American landscape in the next 8 years. Changes that we see today include household formation, retail trends, transportation trends, and the shift to urbanization.
During the US Presidential Election, the most noticeable idea that the millennial generation was underestimated by the status quo was the unanimous support for Bernie Sanders rather than the status quo Hillary Clinton.
When peaking into Bernie Sanders’s platform, it understood as far-left leaning, which could highlight the core belief system of the millennials. This may serve as a guide in the direction America is headed.
Millennials are virtually split when it comes to Socialism or Capitalism. This is a much different view than the status quo, which alludes to serious economic adjustments are on the horizon.
As of 2017, millennials are 36% of the workforce and in 8 years are projected to be 75% of the workforce.
The millennial generation has a much different composition of demographics verse the prior generation. Leads to social adjustments…
Here is 1-4 changes of how the millennial generation is different from the past. Economic stagnation has shaped the millennial generation in to who they’re today.
Student debt levels are a defining point of the millennials generation. No other generation has ever taken on this much student debt despite being the most educated.
Millennials are currently making economic decisions based on the burdensome of student loan debt.
A major shift in real estate as millennials demand urban centers, which is a complete flip from prior generations pushing out to suburbia.
Millennials will have a profound change in the transportation industry. Technology and crowd sharing has pushed millennials to Uber and Lyft. This will be challenging for the auto industry to maintain auto sales, along with energy producers of crude products.
Millennials are already having a drastic change in the retail space. The technology millennials are adapting is contributing to the retail apocalypse.
The millennial generation has been subjected to fear and war in their entire lifespan. This generation has witnessed the negative effects of globalism hallowing out the middle class around them. Millennials search for security, which may explain why Bernie Sanders was the best platform of choice, because he offered ‘light at the end of the tunnel’.
More social ramifications for the US economy are the millennials thought of various forms of debt should be forgiven. The old order has produced a debt ball and chain.
Last but not least, Gordon T. Long and Charles Hugh Smith forgive the millennials and blame the educational system for why the millennials think the way they do.
For the next 8 years one should sit down, strap in, and hold-on. The generational rollercoaster will involve chills and thrills, but it’s completely normal. All we say is just be on the right side of history.
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Full video below