A Dozen+ Statistics Proving Millennials Are F%#$&D: The Breakdown Weekly Recap

An economic comparison of where boomers were at the same age as millennials leads to only one conclusion: Millennials are screwed.

CoinDesk Insights
Jun 20, 2020 at 2:00 p.m. UTC
Updated Sep 14, 2021 at 8:54 a.m. UTC

An economic comparison of where boomers were at the same age as millennials leads to only one conclusion: Millennials are screwed.

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

This episode is sponsored by Bitstamp and Ciphertrace.

The big narrative in financial media for the last few weeks has been the insurgent Robinhood rally, led by the AC/DC-blaring Pied Piper Dave Portnoy, owner of Davey Day Trader Global Global (DDTG Global). 

As people try to make sense of the strange retail trading phenomenon, one perspective is the participants (average age of 31 on Robinhood) are reacting to a market that has left them behind. In this view, they are assaulting the market with otherwise outrageous and ludicrous strategies because, otherwise, how will they get their piece? 

This week’s Breakdown Weekly Recap looks at this in the context of some surprising (and frankly depressing) stats about the millennial generation’s current wealth, as compared to where boomers were at the same time in their careers. 

This week on The Breakdown:

  • A Bloomberg senior editor today argued there were six reasons why 2020 was bad for bitcoin. Here’s the opposite case.
  • A leading independent financial analysis shares thoughts on the “Robinhood rally,” Fed policy and why Modern Monetary Theory (MMT) is already here.
  • A conversation about pseudo-anonymity, global digital nomadism and the trader’s mindset.
  • Persistent unemployment and fears of further layoffs are the real economic counterpoint to the financial market’s unbridled enthusiasm.
  • From technology to aging demographics, some of the most important trends shaping the economy have been deflationary. What happens when that rapidly changes?

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.