Millennials being squeezed out of middle class

Lostbox

「Immortal Sage」
VIP
Millennials in advanced economies around the world are being squeezed out of the ranks of the middle class, including in Britain, as pay growth stalls and house prices skyrocket, according to the OECD.

The Organisation for Economic Co-operation and Development (OECD) said that for every generation since the baby boom of the 1940s, across 40 major countries, the middle-income group had shrunk and its economic influence weakened.

The Paris-based organisation, which represents 36 wealthy nations around the world, but also included South Africa, China, Russia and Brazil in its analysis, said there had also been a noticeable decline in the living standards of middle-income families over the past three decades.

It said there were 15 countries where the middle class was now a smaller group than before the financial crisis; the group was defined as people whose earnings are between 75% and 200% of median national income. It also found that the top 10% of earners held almost half of the total wealth, with the bottom 40% accounting for only 3%.

The snapshot of modern life for middle class households around the world suggests that younger generations are increasingly being denied similar opportunities to their parents.

As many as 70% of the baby boomers – born between 1942 and 1964 – were part of the middle class in their 20s, compared with 60% of millennials – born between 1983 and 2002 – at the same point in life, the OECD said.

While the situation in Britain has been less pronounced than the OECD average, with 63% of baby boomers, compared to 59% of millennials, the report found that families in the middle-income group had been squeezed.

House prices in the UK over the past two decades have increased by at least 60% more than median incomes, much faster than the OECD average of 50%.

The OECD recommended governments review and adapt the tax system, as well as reforms in housing and education to make it more accessible. Angel Gurría, the OECD secretary-general, said: “Today the middle class looks increasingly like a boat in rocky waters.

“Governments must listen to people’s concerns and protect and promote middle class living standards. This will help drive economic inclusive and sustainable growth and create a more cohesive and stable social fabric.”
 

XamarWeeaboo

You expected something here didn't you?!?!?
Most are too pampered and are raised in a bubble, thinking that everything will be alright as long as they have the correct qualifications, but when they get hit by reality they suffer badly and end up relying on drugs and alcohol to soothe the pain
 

Yaquub

VIP
This is why we keep wealth in the family in my reer. Buy a house stay there as long as possible, rent out multiple houses to pay rent privately when needed and share resources. Somalis all together need to have a more community based lifestyle.
 
A weak middle-class destroys the balance in the market. A lot of bad shit like political and civil unrest will happen if it keeps getting smaller.

Few effective socialist economic policies will prevent this.
 
This is why we keep wealth in the family in my reer. Buy a house stay there as long as possible, rent out multiple houses to pay rent privately when needed and share resources. Somalis all together need to have a more community based lifestyle.
Your reer is the exception, that's how things used to be done in the old days.

In this new era, you will loose 10-40K of your wealth to rich Asian/White/Arab businesses just to get married to a diaspora chick.
 

Yaquub

VIP
Your reer is the exception, that's how things used to be done in the old days.

In this new era, you will loose 10-40K of your wealth to rich Asian/White/Arab businesses just to get married to a diaspora chick.
Who's getting married to a diaspora chick these days.

:gucciwhat:
 
i own my house, car, boat. just need a chic with IQ of 130+ to pop out babies for me. till them, ama just chill in my huge house and
 

Basra

Like Donald Trump, I like to be Spanked.
Let Them Eat Cake
VIP
Well let the whole world be poor.
i own my house, car, boat. just need a chic with IQ of 130+ to pop out babies for me. till them, ama just chill in my huge house and

keep on dreaming in your mamas basement yaa ibn kaleeb darood dervish
 
Your reer is the exception, that's how things used to be done in the old days.

In this new era, you will loose 10-40K of your wealth to rich Asian/White/Arab businesses just to get married to a diaspora chick.
I did the maths and if it's about the money, the disapora girl is a better investment
 

Tukraq

VIP
What’s considered middle class? I think it a false label condsidering those making 500k a year claim middle class as well as those making 20k a year:farmajoyaab: it’s become a catchall term as the richer use terms like comfortable and underestimate while the poor feel embarrassed and wouldn’t want to be called broke or lower class :gaasdrink:
 
Share the maths with us.
let's suppose the end goal is to save enough money to back home, build a house and start a business. The diaspora chick may cost, let us say 20k but at least she is able to bring in some type of income which supports the cause going forward.

The wife back home is cheaper to marry, maybe the whole clan chipped and paid for everything. You still need to support her for a couple of years until she is of any use, financially speaking. I have yet to hear of any Somali man marrying back home and prospering.
 
let's suppose the end goal is to save enough money to back home, build a house and start a business. The diaspora chick may cost, let us say 20k but at least she is able to bring in some type of income which supports the cause going forward.
Why would a materialistically driven diaspora female plan to go back home? this is wishful thinking.

The majority of them will stop working once the child arrives unless your a dayuuth and she controls the household and your ok throwing your child into daycare in the hands of strangers.

She has no obligation to contribute to anything, they don't have that foresight or intelligence otherwise 20k wouldn't have been wasted in the first place.

I have never seen or heard about this hypothetical idealistic scenario being implemented in reality, but I understand your sentiment that at least on paper the "possibility" exists but again it's never practised in reality, which is why these females are worse.

Don't be deluded by this, there is absolutely no financial difference, if your a religious male just paying 20k alone knowing much of your fellow country men are dying from hunger is not only callous and immoral, but you loose all barakah in your marriage.

The 3-5k you spend in Somalia goes into the hands of poor people (sadaqah) no rich Asian/White business profits from you, the marriage as a result is filled with barakah which opens the doors for a increase in riziq (if your sincere)
 

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