A Wall Street Journal columnist delivers a brilliant narrative of the mugging of the millennial generation how the Baby Boomers have stolen the millennials' future in order to ensure themselves a comfortable present
The Theft of a Decade is a contrarian, revelatory analysis of how one generation pulled the rug out from under another, and the myriad consequences that has set in store for all of us. The millennial generation was the unfortunate victim of several generations of economic theories that made life harder for them than it was for their grandparents.
Then came the crash of 2008, and the Boomer generation's reaction to it was brutal: politicians and policy makers made deliberate decisions that favored the interests of the Boomer generation over their heirs, the most egregious being over the use of monetary policy, fiscal policy and regulation. For the first time in recent history, policy makers gave up on investing for the future and instead mortgaged that future to pay for the ugly economic sins of the present.
This book describes a new economic crisis, a sinister tectonic shift that is stealing a generation's future.
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About the Author
Joseph C. Sternberg is editorial-page editor and European political-economy columnist for the Wall Street Journal's European edition. He joined the Journal in 2006 as an editorial writer in Hong Kong, where he also edited the Business Asia column. Born in 1982, he lives in London.
Table of Contents
Introduction: Taking a Bite Out of the Big Avocado of Life 1
Chapter 1 The Young and the Workless 25
Chapter 2 Not Our Parents' Job Market 45
Chapter 3 Human-Capital Punishment 75
Chapter 4 Millennius Domesticus 109
Chapter 5 The Saturday-Morning Bank Heist 145
Chapter 6 Their Present, Our Future 177
Chapter 7 Millennial in Charge 211
Epilogue: Hiding in Plain Sight 237
Most Helpful Customer Reviews
It's amazing how no reviews of this whinny volume discuss the incredible sense of entitlement that has been one of the hallmarks of the millenials. And how have baby boomers stole their economic rights? 1) By living too long; 2) By getting ill; 3) By losing 1/3 of their home values in 2008; 4) Having to take equity out of their homes to pay for their retirement stolen by Madoff and other crooks; and, oh, yes, 5) By paying for their college educations and continuing to support them for decades after their graduations. Poor babies.