by Michael Snyder,The Economic Collapse Blog:
Decades of economic decline have brought this country to a breaking point. The vast majority of the population is barely scraping by from month to month as prices continue to rise, thousands of stores and restaurants close, foreclosures spike to alarming levels and the middle class continues to shrink. Now the crisis in the Strait of Hormuz threatens to make things a whole lot worse, and a lot of people are justifiably concerned about what this will mean for their futures.
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Our young adults are being hit particularly hard. If you purchased a home 20 or 30 years ago, you are insulated from what is really going on out there. Housing costs are more unaffordable than ever, and many young people have completely given up on the dream of homeownership. Meanwhile, the employment market has gotten very tight, and this is especially true for entry-level jobs.
Do you know anyone under the age of 40 that is doing really well in this economy?
Yes, there are some exceptions, but in general our young adults are really struggling.
As a result, homelessness is at record levels and hordes of drug addicts are roaming the streets of our major cities.
If you doubt this, just check outthis videothat shows what has happened to the once great city of Los Angeles.
It was once a playground for the rich and famous, but now it has been transformed into a rotting, decaying hellhole.
It is undeniable that most of our young adults hate this economy.
Source: SGT Report
