A new Deloitte report indicates that the net worth of the average American aged 18-35 has plummeted 34 percent since 1996.
This new report found that millennials are paying more for education, food, transportation, and other basic needs, while their income remained steady.
This age cohort’s average net worth is now under $8,000, putting them in a stickier financial shape than previous generations.
Deloitte researchers informed The Washington Post that the study’s revelations “debunk many conventional wisdoms about the new-age consumer.”
Deloitte chief retail officer Kasey Lobaugh said “The narrative out there is that millennials are ruining everything, from breakfast cereal to weddings, but what matters to consumers today isn’t much different than it was 50 years ago.”
Lobaugh added, “Generally speaking, there have not been dramatic changes in how consumers spend their money.”
The Washington Post reports that education costs increased by 65 percent in the past decade, beating every other category.
However, discretionary spending, which includes eating out and alcohol, constitutes 11 percent of total income. This rate is the same as a decade ago.
Further, the study uncovered that “only 20 percent of consumers were meaningfully better off in 2017 than they were in 2007, with precious little income left to spend on discretionary retail.”
Americans in the age bracket of 18 to 35 put off making large purchases like homes and cars because of financial pressure and unstable sources of income.
A 2017 study shows that roughly one-third of millennials still live with their parents and are delaying marriage until they are older.
Many of these trends are not coincidences.
Millennials do live in an American political system that is over-taxed and over-bureaucratized. As a result, many young professionals have taken their talents to the sunbelt which is a more affordable region filled with more work opportunities, thus making it easier to earn a living and start a family.
Bypass Tech Censorship!
Facebook, Twitter and Google are actively restricting conservative content through biased algorithms. Silicon Valley doesn't want you to read our articles. Bypass the censorship, sign up for our newsletter now!
Join the conversation!
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. Thank you for partnering with us to maintain fruitful conversation.
Narrative Buster: Media Ignores Milwaukee Molson Coors Mass Shooter
Antony Ferrill, the man accused of killing five co-workers and himself at a Molson Coors plant, reportedly had a long-running dispute with the co-worker .
The New York Post reported that Ferrill had frequently gotten into arguments with one of the victims he killed, a fellow electrician, according to an account that an employee related to the Milwaukee Journal Sentinel.
The two co-workers had been accusing each other of going into each other’s’ offices and messing with computer equipment or swiping tools, according to a source, who did not want to be named.
The source also noted that Ferrill frequently watched movies on his phone throughout the day, which other co-workers complained about, and Ferrill believed he was being discriminated against because he was black.
Earlier in the day, Ferrill had been fired but ended up returning to the business facility with a stolen name tag and his firearm, according to WBBM-TV.
Ferrill had worked as an electrician for over 20 years. 17 of those years were spent at the Milwaukee brewery, according to a report from the Sentinel, which pointed to various sources and online employment records.
The tradesman turned murderer started to become paranoid at work, reportedly telling co-workers about a year ago that he suspected his bosses were breaking into his house, hacking his computer. and rearranging his furniture.
“I was, ‘Are you serious, Anthony? What?’” the unnamed employee informed the Sentinel. “We all kind of joked about it, saying we should maybe get him an aluminum hat. But he was dead serious about it.”
According to Phillip Rauch Sr., who worked with Ferrill for 15 years at the brewery, he was “a very good electrician.”
“Every time I worked with him, he was always in a good mood,” Rauch told the Sentinel.
Interestingly, the media did not focus much on the story.
Paul Joseph Watson of Infowars noted this on Twitter.
He tweeted, “Wow, this disappeared from the discussion quickly.”
Simply put, when a non-White commits an atrocity, the media will do everything it can to downplay it.
However, when a white person carries out a shooting, there will be non-stop coverage about growing white supremacy or other bugaboos the media is willing to conjure up.
Trending on BLP
Hollywood4 days ago
Expert Witness Who Testified Against Harvey Weinstein in His Criminal Trial is Hit by Car
News3 days ago
Trouble in Paradise: Establishment Democrats Working to Eliminate AOC’s House Seat
Campaign 20204 days ago
LOL: Fake News Begins an Aggressive Tattling Campaign Against Bernie Bros for Mean Tweets
News4 days ago
Sanders Defends Past Praise of Cuban Tyrant Fidel Castro
News2 days ago
Iranian Deputy Health Minister Infected by Coronavirus After Briefing Press on Response
Violent Left3 days ago
ANTI-WHITE TERROR: Black Woman Allegedly Punches Stranger at Bus Stop Because She Hates ‘White People’
Big League Guns3 days ago
Biden at South Carolina Debate: 150 MILLION People Killed By Guns Since 2007
Campaign 20203 days ago
LISTEN: Mike Bloomberg Joked About Droning His Political Opponents in Leaked Audio
Sex Crime3 days ago
SCANDAL: Inquiry Finds Pedophiles in the UK Government Were Allowed to Abuse Children for Decades
States1 day ago
Somali Migrant Walks Free After Allegedly Breaking the Nose of a Missouri Woman in Violent Struggle
News2 days ago
ABC News Suspends Correspondent for Identifying Himself as a “Socialist” in Project Veritas Video
Big League Wellness3 days ago
Tucker Blasts Globalist Response to Coronavirus: ‘They’d Let You Die Before They Admitted That Diversity is Not our Strength’