Generation X did have somewhat of a raw deal. Most Gen X'ers did not have Boomer parents. Gen X is a comparatively smaller generation for 2 reasons. This is also when Gen X gets overlooked in a lot of generational discussions.X gens got pretty f'ucked too and a raw deal by the boomers. Only difference is that they didn't learn how to be snowflakes as the millennials did.
1. The women of prime fertile age during a good portion of X's birth years were the women born between 1935-1945, a smaller generation due to The Great Depression and World War II.
2. During a good portion of Gen X birth years, there were economic problems, such as the oil shocks of the early 1970s, and the stagflation/recession of the Gerald Ford and Jimmy Carter years. This reduced birth rates.
Millennials started being born in the early 1980s, as the U.S. economy was in an upswing during the Reagan presidency and the Baby Boomer generation were the major generation of women of prime fertility. Millennials are a larger generation. Millennials got a worse deal than Gen X as I'll illustrate below.
Generation X had two timing advantages. A good portion of Gen X graduated into an economy in an expansionary phase during the mid to late 1990s. Also, college costs in the 1980s/1990s were lower than the college costs for Millennials in the 2000s/2010s.
Millennials are a lost generation, especially the first half of the generation born during the 1980s. Most of the first half of the Millennials graduated into the 2008-2012 time period when the economy was in bad shape or they were last in, first out layoffs in 2008.
"The Social Contract Is Broken": Why Millennials Who Lack Rich Parents Feel Increasingly Hopeless | ZeroHedgeZeroHedge - On a long enough timeline, the survival rate for everyone drops to zerowww.zerohedge.com
As the FT sees it, millennials' fate will depend largely upon whether they're the progeny of wealthy families, or not. Those who can depend on "the bank of mom and dad" for an interest-free loan (or a generous inheritance) will always have an advantage in procuring the best homes, jobs and school placement as entry to the upper echelon of society still largely depends on having access to the best schools and alumni networks. Millennials who don't enjoy these advantages will be forced to compete in a market set up to cater to those who do.
In my opinion boomers fvcked up the economy and society for those after them, while gen X managed to get a decent deal, millennials did not.
They’re facing a second once-in-a-lifetime downturn at a crucial moment.
Millennials have been walloped by 2008 and COVID recessions.
Right now, there are many 30 somethings languishing due to those two recessionary periods.
The success of most Millennials will depend upon the inheritances they get from Boomer parents.