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Tuesday, March 13, 2012

The old get wealthier and the young get poorer.

The young are being plundered to support the old. Yet, the young are suffering the worst economic ravages in American history as a result of the nasty economy. America is headed down the road to a generational war.
This recession has been unmercifully brutal on younger Americans. Many are entering the most difficult employment market in generations with a flood of low wage jobs saddled with record levels of student debt. Many have never even witnessed how it is to live in a bull stock market. Of course this is assuming they had money to invest since 37 percent have no net worth or even worse, a negative net worth. This recession has been particularly tough for younger Americans. Adjusting for inflation, those under 35 are worse off today financially than those in 1984..
Read the rest here
My Budget 360 

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