Great news for all of us – Millennials may yet become the Greatest Generation Ever!
They’re certainly off to a good start.
Millennials , as a group, are the most diverse generation, the most open-minded generation, the best educated generation, and give the tools at their disposal like AI and Crisper, there is every reason to expect Millennials to be the most creative and productive generation ever.
Hampered by record levels of student debt and hardened by fire early in their careers by the Great Recession, Millennials have been slower to marriage and home ownership than previous generations of Americans.
This series of charts by Goldman Sachs lays out the numbers. https://www.goldmansachs.com/insights/archive/millennials/
As their study notes, “millennials’ progress through life has been measurably retarded by the Great Recession, a two-track labor market in which many high-paying jobs require a college education and record levels of student debt.”
With an expanding economy and many Millennials advancing in their careers, expect the largest generation in American history to get over a hump that will unleash even more economic activity from them.
The student debt problem is real, for sure.
According to the Federal Reserve Bank of New York, “In 2004, when the first wave of millennials graduated college, Americans owed about $260 billion in student loans. In 2018, when the youngest millennials were graduating, the figure had multiplied almost by a factor of six, to $1.46 trillion.”
A recent Federal Reserve report confirmed that debt has held young Americans back.
About “20 percent of the decline in homeownership among young adults can be attributed to their increased student loan debts since 2005,” Fed economists Alvaro Mezza, Daniel Ringo and Kamila Sommer found. “This represents over 400,000 young individuals who would have owned a home in 2014 had it not been for the rise in debt,” they wrote.
Look for Millennials to be more and more of an economic powerhouse. Smart businesses will be attunded to their needs and attitudes.

In a historic vote today, November 20, 2019, the House Judiciary Committee approved a bill that would effectively end marijuana prohibition. The Marijuana Opportunity Reinvestment and Expungement (MORE) Act of 2019, or H.R. 3884, was introduced by House Judiciary...

Good regulation is very hard to achieve. It takes a proper balance, an ability to listen to all sides, and like so much of life, some trial and error to get it right. The regulation of the cannabis industry is waist deep in the trial and error phase right now. With...

If there’s one thing recreational pot smokers have known all their adult lives, it’s that the federal government isn’t always right. The Cannabis Times has a story today with the tag line “The U.S. government told an outrageous lie in 1972, the health industry...

The potential for cannabinoids is truly amazing. And the advent of man-made cannabinoids will help, as this Marijuana Business Magazine article details so well.  https://mjbizmagazine.com/man-made-vs-natural-cannabinoids/  As the article states, many of these...

Jeremy Gutsche is one of my favorite futurists. He’s the super smart Canadian behind TrendHunter.com. He has established a template to help innovators bring the future forward faster! Mr. Gutsche has identified Six Innovation Limiters: 6  Neurological Shortcutting 5 ...

With all the commotion in D.C. this week around the start of impeachment hearings, you’re forgiven if you didn’t see the OTHER huge news out of Washington, D.C. this week.   The U. S. House of Representatives passed the SAFE Banking Act, a bill that if it becomes law,...

Today is National Voter Registration Day. https://nationalvoterregistrationday.org If you or someone you love isn't registered to vote, please encourage them to do so! Visit https://www.usa.gov/register-to-vote to check your voter registration. Good, sound public...

Here’s a great definition of public policy, written by Mark Riso, in an article he had published in a trade magazine:   “The vast majority of Americans don’t have a specific expertise in medicine, law enforcement, or health and safety (to name a few), and we go about...