The Federal Reserve officially declare Millennials the brokest generation.
A study by Federal Reserve says Millennials are spending less because they are poorer than previous generations. Well, no shit. When you’re poor, you don’t get to spend money, obvious, right? Well, the study wanted to find out if there were some lifestyle-related reasons besides being poor for their more frugal lifestyle.
Millennials are not some anti-capitalism hipsters
Turns out there’s no fundamental difference towards consumerism between Millennials and other generations. In fact, their spending patterns were similar but Millennials just didn’t have as much as $ to spend on the same things other generations spent on.
The cursed generation.
Of course, all of us knew this was the case but having the Federal fuckin’ Reserve officially conclude us as the brokest generation counts for something. For more on how fucked we are as a generation, check out Huff Post’s in-depth look at bleak reality of being a millennial.