LOL: Salon Reports Millennials Aren’t Saving For Retirement, “They Don’t Think Capitalism Will Exist By Then”
In a hilarious piece that just goes to show how ignorant modern-day millions in America are, Salon.com is reporting that they aren’t even bothering to save for retirement because they believe capitalism will be abolished in America by the time they’re adults. Good luck with that one.
The Salon piece draws heavily from a CNN article that found “66 percent of millennials aged 21 to 32 have nothing saved for retirement.” While CNN chalked this up to “stagnant wages” and “high unemployment”, Salon was quick to jump in with their own scoop:
The idea that we millennials’ only hope for retirement is the end of capitalism or the end of the world is actually quite common sentiment among the millennial left. Jokes about being unable to retire or anticipating utter social change by retirement age were ricocheting around the internet long before CNN’s article was published.
in studying the reaction to the CNN piece and reaching out to millennials who had responded to it, I was astounded not only at how many young people shared Wood’s feelings, but how frequently our expectations for the future aligned. Many millennials expressed to me their interest in creating self-sustaining communities as their only hope for survival in old age; a lack of faith that capitalism as we know it would exist by retirement age; and that alternating climate crises, concentrations of wealth, and privatization of social welfare programs would doom their chance at survival.
“In general, I regard the future as a multitude of possibilities, but most of them don’t look good,” Elias Schwartzman, 29, a musician, told me. “When I’m at retirement age, around 2050, I think it’s possible we’ll have seen a breakdown of modern society.” Schwartzman said that he saw the future as encompassing one of two possibilities: an apocalyptic “total breakdown of industrial society,” or “capitalism morphing into a complete plutocracy.” “I think the argument can be made that we’re well on the way to that reality,” he added.
Wood, 32, a political consultant, told me via Twitter that she felt similarly. “I don’t think the world can sustain capitalism for another decade,” she explained. “It’s socialism or bust. We will literally start having resource wars that will kill us all if we don’t accept that the free market will absolutely destroy us within our lifetime [if] we don’t start fighting its hegemony,” she added.
You can read the entire hilariously backward piece here.