In this video, I talk with author and economic analyst John Sneisen about the dependence millennials have on the government and banking system as one third live with their parents, mostly baby boomers who are also facing a vast debt crisis.
We see public school indoctrination camps teaching kids to be dependent rather than independent and it carries on into university and college and the results are stunning considering the number of kids above 18 years of age that still live with their parents.
1 in 5 households surveyed said their adult children lived with them for more than half a decade. Almost 3 in 5 parents with kids 18 and older (59%) have had adult children living with them for more than a year; over 1 in 5 (23%) have had adult children living with them for more than five years. On average, these parents say the longest period of time they have had their adult children living with them is 4.5 years according to Zero Hedge.
From student loan debt to lack of initiative, we are seeing the dependence of millennials grow in leaps and bounds and no one seems to bat an eye. This is to incredible detriment to baby boomers who are the biggest spenders into the economy and are seeing a debt crisis unfold before them. About 23% of these baby boomers expect their kids to take care of them after retirement.
56% of parents of millennials 18 or older provide groceries for their kids. 40% provide health insurance. 21% rent. 39% cell phone bills. 34% car insurance. 32% clothing. 20% entertainment. 10% have allowances. 10% have car loans. This is ridiculous!
Parents on average would save $227,000 USD if they weren't spending so much money on their kids.
With massive pension shortfalls, it's very unlikely millennials will see a pension. So the point of this video is to explain the importance of self sustainability and financial responsibility outside the banking system which is currently being crippled through centralized and artificial manipulation. The banking system and the government craves dependence and debt which is why individuals need to break free from that system and provide for themselves. This trend needs to be broken and people must strive for more. This is the inevitable end of a debt based culture of lemmings begging for help from the all powerful state and banking system.
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