Millennials and young Americans are increasingly blaming “climate change” for their lack of personal savings accounts and retirement plans; saying current weather trends make it near impossible to forecast their economic future.
“Many young people today think civilization may not exist when they’re of retirement age,” writes Market Watch. “Some 88% of millennials — a higher percentage than any other age group — accept that climate change is happening, and 69% say it will impact them in their lifetimes. Engulfed in a constant barrage of depressing news stories, many young people are skeptical about saving for an uncertain future.”
“I want to hope for the best and plan for a future that is stable and secure, but, when I look at current events and at the world we are predicting, I do not see how things could not be chaotic in 50 years,” said a 27-year-old communications professional from New York City. “The weather systems are already off, and I don’t think it’s hyperbolic to be a little apocalyptic.”
According to Pew, two-thirds of Millennials (those born between 1981 and 1996) have nothing saved for retirement.
“There is a certain fatalism in this population relative to more recent generations,” said one industry expert. “Psychologically, this population has had more shocks to expectations about their futures than past generations. From a perception point of view, I hear a lot of cynicism about the ability to build retirement savings or whether they will be able to retire at all.”
Despite a lack of savings, the United States economy continues to break record after record under President Trump.
The American economy smashed expectations in April; adding over 263,000 new jobs that sent the unemployment rate down to just 3.6% -the lowest level on record since December 1969.
“The U.S. jobs machine kept humming along in April, adding a robust 263,000 new hires while the unemployment rate fell to 3.6%, the lowest in a generation, according to a Labor Department report Friday,” reports CNBC.
“Unemployment was last this low in December 1969 when it hit 3.5%. At a time when many economists see a tight labor market, big job growth continues as the economic expansion is just a few months away from being the longest in history,” adds the author.
The strong data comes as over a dozen Democratic presidential candidates continue to slam the US economy; saying capitalism “has failed” for many Americans and pledging to repeal President Trump’s tax cuts should they take the White House.
Read the full report at Market Watch.