Hey Millennial, Boomer here. First of all, between me and my employer (first 25 years) and self employment tax (most recent 22 years) we have paid almost $1M into the Social Security and Medicare "Trust Funds". I'm sure the fiduciaries we send to Washington have treated this capital as they would their own and grown it at a reasonable rate. So you're not paying my Social Security, I've already paid it! Second, the first few bubbles of that past 50 years were caused by those slackers that holidayed in Europe, North Africa and the Pacific during the early to mid 1940’s. So blame them for having a 25 year party when they got home (those that did). The current bubble, as far as I can tell, is being driven by investors that don’t understand accounting and think earnings don’t matter as long as the next PE firm or IPO enthusiast or bond holder will keep pouring capital down the well. Can you spell TSLA, UBER or BYND?? And what’s up with Avocado Toast? That was NOT a Boomer invention. But I can’t disagree with your sentiment. We are all screwed. The only way out of here is feet first in a box. Cheers😉

Hey Millennial, Millennial here. Personally I can relate on not being a big fan of paying into the U.S government's prequel of Bernie Madoff's dream. However, along that same line of thinking why wouldn't a Boomer be entitled to get their share considering they have paid into the same ponzi scheme? Hard to argue with that in my opinion. The real problem is that everyone wants to blame everyone else. Ultimately the issue is going to fall on Millennial shoulders as the Boomers will be feet first in a box before us (no offense John O. ;-) ), unless we do the noble thing and kick the can down the road for our loving children (please pick up on the sarcasm). It's time for the smartest minds in this country (or elsewhere - suggestion box is open) to be asked to help find solutions to some of these problems that are presented in this series. As part of that, our most ineffective minds and people (Congress) need to be held accountable - please no political views - and get out of the way of true problem solving. The true solution probably lies somewhere in between with everyone getting smacked and bearing the brunt of it - sorry John O. we aren't going to let you go scot-free. And the biggest four letter word we are all going to agree on is FAIR, because we will all be in agreement that whatever a solution is, will not be FAIR to us. At least we'll be able to share a beer in agreement for a change. It's inevitable. Real Vision does an excellent job showing hard to argue with rationale behind why the expectation of trouble ahead for a vast group of people (either Boomer or Millennial or Gen-X). Unless you want to use irrational arguments of course. It's time to embrace the inevitability and start finding solutions.

Replying to John O., for perspective, my generation came between the boomers and the millennials. I am a financial advisor, specializing in 40k plans, and have been educating people of all generations in these plans for 30 years. I will note that we have been able to see this “pig in the python” problem for my whole career, and I have been telling plan participants about it for that long. I understand the $1M that you have contributed for social security, but you have never contributed for yourself. That program is a “pay as you go” system. You paid for those before you, with the expectation that those that come after you will pay for you. We now have 2 workers to,support each retiree, so the tax needs to be MUCH higher that the 7.65% (plus employer match) that we currently collect. Social security was designed as a safety net for the destitute for the last few months of their lives, not the 30 year vacation golfing in Florida that it has become. As the speaker relates, this has led us to almost 70% of government spending going to Medicare, Medicaid, Social Security, and interest on the debt. The federal reserve HAS been blowing bubbles to keep the ship afloat. If you revert earnings to the long-term mean, and revert P/E ratios to the mean, you get some ugly numbers. That base case reversion will spell the end of pensions and 401k plan balances. Allowing interest rates to rise to the “normal” 5-6% that we all knew and loved would mean the default of the U.S. on its debts. The Fed is doing what it needs to do to kick the can down the road. Crisis in 10 years is better than crisis today. The choice is between you and your 401k and pension balances, and millennials’ ability to Ford a house and invest in markets that are priced to provide them with returns. Where does this end? Hopefully, as another commenter wrote, with some agreement among us all. In the meantime, I’ll be working to protect myself from money printing, and not relying on government promises.

Have argued that as millennials rotate into positions of leadership (Neil Howe has said that Gen-X are politically agnostic) some of these benefits will be rolled back much to the chagrin of near future retirees. As an early boomer have to concur that was just the luck of birth. And yes benefits are tilted to much to older generations and not enough to younger ones but that will likely start to change this decade.

Quite correct. This is an arithmetic problem - known for years, really decades. Decisions made......and now consequences. Not a mistake; arithmetic is not a mistake.

Arithmetic? Do you realize that the $6T of ME wars is off books?

To be clear - the manufacturing jobs started moving out in the 1980's. Several factories in the area in which I grew up slowly died and were put to rest in the early 2000's. The US "Rust Belt" was so named after steel and heavy manufacturing dried up in the 80's and 90's. And much of it was technology not just the exporting of jobs. The last administration took over a train wreck just as it was about to hit a wall. If one cares about American jobs, stop shopping in Walmart and don't buy anything that says "Made in China". BTW, I think you mean immigration, with an "i". Emigration is what I am going to do if things continue to deteriorate. I hear Little Cayman still has a few lots for sale and the diving is great.