The lower standard of living for this generation has "officially" been studied and published. Click here for the link. The article is circulated by The Guardian, which published the NSA information by Snowden. The title of the article sums it up for those that don't want to read it: Middle-class young will fare worse than their parents. Most of my blog readers know that I'm a big proponent of reading the news, using some critical thinking, and planning accordingly. The article further cements my thoughts that I'm on the right track in keeping our debt low, increasing our education, and preparing for the future by prepping.
"This will be controversial, but for the first time in over a century there is a real risk that the next generation of adults ends up worse off than today's generation. This is a problem for the children of parents with above-average incomes, not just a problem for those at the bottom. Many, many children face the prospect of having lower living standards than their parents." The slow economic squeeze, or Anaconda economy, will continue to force the people into lower and lower quality of life situations. I talked about a few things that can be done to counter the trend such as limiting your debt, getting more education, stockpiling food, and becoming more independent from the system.
I'm going to stand on my soapbox for a few minutes and be brutally honest with you. This isn't 1950s America in which we are the only industrialized nation left after WWII. We don't have an export surplus. The time when you worked for a company, retired, and they paid you a nice pension [and maybe medical] are over. The promise of Social Security and Medicare when you got older won't be around when you are older, and probably will be for people with absolutely no net worth. This isn't 1950s America, and the Leave it to Beaver American culture is gone. The slow squeeze of the Anaconda economy will continue.
My question for comments: What did your Grandparents do that needs to be done again for the future of your family?
My answer: We are already doing a lot of it. Living below our means, a deep pantry, and limited debt [house and car only]. We are lacking in our own food production, but have plans to expand it.