The rich 1% have killed off the middle class

"Since millennials first started entering the workforce, their spending habits have been blamed for killing off industries ranging from casual restaurant dining to starter houses. However, a new study by the Federal Reserve suggests it might be less about how they are spending their money and more about not having any to spend.

A study published this month by Christopher Kurz, Geng Li and Daniel J. Vine found millennials are less financially well-off than members of earlier generations when they were the same ages, with "lower earnings, fewer assets and less wealth."

Copied from NPR News, "Why aren't Millenials Spending?", 30 Nov 18

Well, Duh.

   The generation of 'millenials'..those folks born between 1981 and 1997 (who  decides this sort of sorting?) were caught in the pincers of a lot of deleterious situations. The lack of jobs in the 80's...trust me, I know this from hard experience:, the crash of 1987..yes, there was a stock market crash dubbed  'Black Monday" in 1987, before there was the shopping frenzy shifted the name to Friday; the insane and meteoric rise in student loans, the insistence that you Had to go to college in order to get a job (that were sent off shore in the 90's), (9/11 and the subsequent re-inventing America from a robust economic democracy to what is now a plutocracy,) and let us not forget the Great Pumpkin currently in the white house, who is merely the manifestation of the rich purchasing the House of Representatives, the Senate, and the Supreme Court. They...the rich CEO's and upper class destroyed the underpinnings of the middle class economy by "downsizing"..a name for cutting the work force (but not management):, disposing of things like  pensions, health benefits, a decent wage, promotions, full time jobs, sick leave, family leave; and (in the Reagan era of "trickle down economics", broke the backs of labor unions.

 Note, however, that members of Congress and Senate still get fat pension ((equal to their highest paid year of office)),  free housing, franking privileges, and free health care, that they have insured will never be gotten rid of.   

All these factors  created a flood of money to the rich at the expense of the middle class. Now there is no middle class. Now it is the upper poor, the poor and the very rich. 

So you have the millenials, who dutifully went to college to gain degrees...mostly masters, (academic staff and colleges made their money) and can not find a job in the field they chose.  IF they can find a job, it is usually part time, has no benefits, and is paid a minimum wage (that the corporations have also refused to raise, and the legislators allow it.)

Now you have a rich upper class and corporations that pay the same tax rate that the guy working at Burger King.  And even then, they have it arranged so that they pay no taxes at ALL. 

Thank you, Reagan, Bush and Trump.

SO for the companies...like the 'casual dining restaurant" industry, the car companies, and the rapacious home building (and real estate) industry, the reason why millenials aren't buying is because they're POOR. You made us all this way. I can no more afford to buy a new car than I can afford to pay for a first class ticket on an airplane.  The rich have made it so that the 'little man' is carrying the entire load and being paid NOTHING. You have turned us into serfs and slaves, so don't bitch. 

You got what you wanted...disgusting amounts of money that you have never shared a dime of, and treating the average American like shit.  Don't start bitching when we, the little people, don't spend the pennies we have on your shit. We're living in shacks and eating cat food. This is what you wanted. 

You can go fuck yourself. Choke on your money.