In this video, I talk with author and economic analyst John Sneisen about the dependence millennials have on the government and banking system as one third live with their parents, mostly baby boomers who are also facing a vast debt crisis.
We see public school indoctrination camps teaching kids to be dependent rather than independent and it carries on into university and college and the results are stunning considering the number of kids above 18 years of age that still live with their parents.
1 in 5 households surveyed said their adult children lived with them for more than half a decade. Almost 3 in 5 parents with kids 18 and older (59%) have had adult children living with them for more than a year; over 1 in 5 (23%) have had adult children living with them for more than five years. On average, these parents say the longest period of time they have had their adult children living with them is 4.5 years according to Zero Hedge.
From student loan debt to lack of initiative, we are seeing the dependence of millennials grow in leaps and bounds and no one seems to bat an eye. This is to incredible detriment to baby boomers who are the biggest spenders into the economy and are seeing a debt crisis unfold before them. About 23% of these baby boomers expect their kids to take care of them after retirement.
56% of parents of millennials 18 or older provide groceries for their kids. 40% provide health insurance. 21% rent. 39% cell phone bills. 34% car insurance. 32% clothing. 20% entertainment. 10% have allowances. 10% have car loans. This is ridiculous!
Parents on average would save $227,000 USD if they weren't spending so much money on their kids.
With massive pension shortfalls, it's very unlikely millennials will see a pension. So the point of this video is to explain the importance of self sustainability and financial responsibility outside the banking system which is currently being crippled through centralized and artificial manipulation. The banking system and the government craves dependence and debt which is why individuals need to break free from that system and provide for themselves. This trend needs to be broken and people must strive for more. This is the inevitable end of a debt based culture of lemmings begging for help from the all powerful state and banking system.
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Heh... I'm a millenial and live with mom.
No regrets.
Hi ,
Thanks for the great content
Long time WAM YouTube subscriber. Appreciate your work on getting us the real news!
Happy to do it! Thanks! :)
Yo if your kids still at home at that age they better have a job and your not still footing the bill for them that's all I gotta say. Living with your parents is fine honestly so many cutlers do it but its frond upon here in the USA for some reason. Is it not good to be near your family and support each other?
I have always considered the western cultural view of pushing kids out of the house very flawed. I much prefer the Asian cultural view where families live together & save lots of money together instead of accruing massive debt. When families like this have aging family members they work together to take care of their elderly. Western culture wants to divide the family, & put everyone in debt, as much & as soon as possible, & use the corrupt healthcare & elder care industry to purge every penny from families while destroying quality of life.
It can be tremendously advantageous for families to live together & help each other. Do you think the banksters want kids saving money & paying for things in cash? Or accruing debt via fractional reserve lending?
Am surprised by this video, I am usually really impressed with your perspectives at WAM but I think you’re missing it here. Obviously if these adults are leeches it’s detrimental, but I think families going back to being closer & taking care of each other would be better for everyone. & I really believe pushing the kids out of the house is part of the debt culture design the banksters want us all to live in.
Keep up the good work, I am a huge fan of your team.
Agree 100%
As the economy continues to deteriorate, do we want to teach our children dependence on the government or dependence on the family?
I'd rather my children live with me until they're 30 and ready to handle the responsibilities life throws at them than to toss them out at 20 and say "sink or swim".
This is 100% the case, you killed this response
yes, i agree! This is exactly what I was talking about in my response!
Amen brother, thanks for shining light on this ongoing war on families.
I do agree everything ceattlestretch is saying, but cmon!! The monogamy family structure itself serves the powerful as well. We are supposed to feel like a great global family, and that cannot happen with the current way of looking at things. The family structure of the past is extremely patriarch and it only serves the masters. I realized I am opening a a huge can of warms, but!! Think about it.. The last name, the idea of a clan... all that needs to go... We are a bigger family than it is taught.
I agree we would all benefit by having more love for everyone, but you have to learn to love and be loved somewhere. In this reality we live in kids who grow up without support from their family end up in terrible situations where they are taken advantage of by people who probably had terrible childhoods. Would love to see all villages look out for all children, but that is a fantasy far from reality at this point. Take a look at any foster system & you will see how important it is for families to take care of their own.
This one is a good thing. The ACA allowed parents to keep their kids on their health insurance until they turn 26. Even as Trump and Republicans gutted Obamacare, they retained this provision because it’s so popular.
Until we get our act together like every other developed nation and have universal healthcare, this is what we have.
This is spooky especially considering I am basically a millennial and will be 40 in just a few years.
Actually I don't think it's that bad to be living with your parents/family because it just adds to each other's support system. The problem is if the parents are the only one helping/supporting the family and not vice versa. In most cultures - multigenerations live under one household and the overall happiness and health level is better for young and old. The older generation has lots of wisdom and experience to share with the younger generation. The young should be able to help support the family monetarily and via their strengths.
There are no freaking jobs due to technology. Yes there are always some jobs available but a change is taking place that has never before happened and these people generally are casualties of the change.
Money is losing its value as it takes less and less HUMAN INPUT to make physical or even non physical things. Either that or technology goes backwards.... are ll the people losing jobs goping to get on steemit to make "money" , probably because more and more jobs will be automated awayforever with no chance for the "job loser" to EVER compete in an "economy" again. Those days will be over. Intersting times , I like the story but disagree with your viewpoint, we'll see where we end up, it coming fast! Peace! resteemed
Thats why we are here at steemit. Government in being FORCED to deal with sokething it cannot seem to control...
This situation is actually worse in Nigeria. It's not easy for young adults to be independent when there are no jobs to support them. And I personally think children have grown to be somewhat lazy.
This should be a real course for concern but very few people take it serious.
I'm still living with my mum and can't wait to get out of there. Used to have my own appartment for 2 years before studying again and moving back in at home due to lower costs... it's about time to move out :D
Don't forget to thank her....daily
Yeah, it's more than that in countries where unemployment is high. I live in Greece where a third of its population either can't get a job or are underpaid.
My brother has a well paid job and still lives with our parents because they cook and clean for him, so he can save all that money for recreation. Meaning, he sees our parents as cheap housemaids. He is also refusing to marry.
Someday those lazy sacks of crap will have to pay the piper.
I don't think it is as simple as they live at their parents house because they got nothing going on or that they are dependant.
From what I've witnessed a lot of people from my generation whether they live in the country side or big cities we all struggle to find decent paying jobs. In France it's a struggle if you did not select the correct carreer at university there's little hope that you will be able to correct that at a later stage and get a good paying job. I got traumatised in high school by my economics teacher and that is why despite not having selected the right career I managed, I struggled at times and yes my mum helped me. I wish that from 18 years old I was 100% independant but this is no longer the reality we live in. We are offered low-paying jobs, renting is difficult (you might find info about renting in France) and no job security so I understand why some people will delay moving out. I will be scared to worsen my financial situation in that case.
Excellent sticker. I loved reading and started the following. Keep writing. Best Regards, Simo
enlightening
I actually had to come back to my parents house after being back and forth from Asia to here in the states. My main reason for coming back was money and, in the back of my mind, knowing my parents would help.
Something happened in the four months i've been back and it hit me: i'm sick of coming back home when times get hard. I paid off my student loans and car note, I shouldn't be here!
Most of my frustration of being at home was due to the fact that I felt lied to and cheated when I wasn't working my job in video/media production. I tried REALLY hard this year to get a job there but nothing was working. It hit me joining Steemit that my main problem was a serious lack of community. Schools these days don't teach independence and they seriously teach the kids how to depend on daddy government and having a victim mentality to "thrive". It's sickening.
Great write up, Josh!
Very good information. But aprreciate your hard work. Thank you for the good post
yes i am part of that satistic. but I work pay my bills and taxes and one day will buy my grandparents the world for all they have done for me.
I agree! I think that, as you mentioned at the beginning of the article, a good part of the explanation is that the education given to university students is finally dependent on a traditional job whose success is measured in how cool the name of your position sounds. It is still necessary to teach a lot of financial education and give them more tools to start their own business!
I lived with my parents a few months after finishing university but moved out as soon as I could. Don't take on a huge student loan if it's not going to lead to decent high paying employment. You are far better off learning a trade that getting an arts degree, my advice.
And any man baby getting an allowance and having his parents pay their cell phone needs grow the hell up and take some responsibility
Sad to say im part of the one third
You are lucky!! I lived very far from my parents for 27 years. Now one of them is gone, sadness is very real when you realize nothing in life really mattered, no one will love you as much as they do. Cherish your time with them!!
Yes you're right. I should cherish the moments I have with them. But I also want to try to live independently.
It trully is kind of tragic...Are these statistics global or Canada/USA only? I think here, in my country (Croatia, Europe) situation is even worse :( Great post, btw!
Articles not quite complete without some mention of the increased cost of living, the massive increase in inflation, and the lack of realistic job opportunities. Otherwise great article and thanks for that OC
Thanx you my dear sir @Joshsigurdson for sharing this news .
Thank you very much for the useful information and share
Good info.
Amazing.
Thank for sharing
this post is very nice..and great video ..thanks for sharing in this post...carry on my friend..
my family my love!!
Thanks for sharing such things follow you
keep it up thanks
great post :) Thank you
Media is the fundamental institution of the any society in current scenario of globe. You are doing a very remarkable job. Real assist of a journalist is his writing power which he conveys to the mass with full dignity and honesty.
You are doing a great job @joshsigurdson
Keep sharing facts with us and let us learn the world of politics more closely.
My support and passion is always with you
Stay Blessed!
Great piece! There's certainly a lot of corrosive codependency between braindead boomers and prissy millennials... that sullen 40 year old guy on the couch with the soul patch looks more like a Gen Xer though, LOL
One of the part sthat sucks for the parents is that when they are powerless they coukd get hurt. But i see no shame for a normal dude so staywith his parents.
Thanks for the information
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Good timing as people like me are at their parents' houses for christmas break. I'm 24 and I am the only one of my friends who got a job and moved out of town. Is it a coincidence that my family/friends live in a very blue state? Unfortunately our public high school taught my peers how to play the system to survive. I like how you point out these dependency issues in our society as often times we who try to make positive changes are seen as the oppressors or people are fearful of losing their free unwarranted benefits.
https://steemit.com/story/@tjunaidi/story-of-malin-folklore-kundang-cerita-rakyat-sumbar-851f210487e9a,,, # @tjunaidi
but everyone got a trophy!
The milliniums were delt a bad hand, result of bad parenting, they grew up with lower self esteem.... and in a world that wants everything now, not earn what you got.
They want to start a the top instead of climbing the mountain.
It takes time to develop relationships,
And theyre going to have a hard time finding job fulfilment.
There parents always told them that they can have anything they want...just because they want it... this is the generation that got medals for coming in last in sports, so it lowers the self esteem of the ones who came in first ...
Employers have a hard time deeling with them, of course not everybody ....
a man living with his parents is a big X to me
I work and I live with parents because have low salary and can't rent house
I think part of the problem is lack of good jobs. Anyone working a full time job should have enough to pay all their bills, but its not like that in the US. More than half still struggle every week to pay bills. Add student loans to millennials needs, and I imagine it's discouraging. To have a degree and work for $12-$13 sucks. Most of the money is going to the top.
Great content @joshsigurdson...thanks for sharing with us.
Nice content...I enjoy reading it.
I'm from India, and this is my view from my personal experience and from what i've seen around here. Here, most families live as a joint family and children start living on their own after getting married.
In some cases, if the child is the only kid for his parents, they all live together always. The advantage is, it reduces cost expenditure, and you can save a lot in many ways, and if the parents are sick, their children take care of them instead of appointing a health care professional to take care of them. And in the same way parents help their kids in every way.
On the other hand, when living a life alone from away due to work, most the earnings are spent just on rent and other day to day expenses and there is nothing left to save for future.
So, it depends on the families situation. If parents and children support each other and live in the same house its great and economical.
This is what happens when you offshore jobs which young people work in order to start their careers.
Thanks for the great content!