ONE THIRD Of Millennials Live With Their Parents! - Why This Is Bad For Everyone
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 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