Should Twentysomethings Worry?

For us 20-somethings, practical monetary consequences of this financial crisis may also include inflation and tougher access to credit (probably more applicable to 30-somethings going for a condo or their first home).

Reading this article is like trying to wade through a giant swimming pool of half-hardened cement with a hungry lion chasing me. It's like trying to push a Hummer up a hill out of a mudhole and the rain is falling down on my face and my hair is in my eyes and the sludge is spraying out from the tires and getting in my eyes and up my nose and it burns.

My theory is that we need Bill Gates, Warren buffet, Dick Cheney, etc, to step up and form a company that will allow our country to continue to be based on capitalism, not socialism! Where are the top earners when we need them? Oprah?...Won't you see the opportunity here? To take a chance on Americans?...I am shocked , like all Americans that we have allowed our country to be bought out...China?...shall we all learn a new language?..remember when we heard the statement "we will bury you"...it is done!

Sarah, as a college graduate and Newsweek employee, it might be good for you to learn the difference between "effects" and "affects." It's hard to take a writer seriously when they don't attend to the basics.

This is the problem with America, people think "if it doesn't affect me, why should I care?" I'm assuming these are privileged upper-middle class suburban white kids who have no concept of the plight of the average American, especially the the poor in our inner cities. Not to mention, there are more and more 20 something's trying to find jobs everyday, and with unemployed sky rocking, just cause you're sitting pretty with your jobs at Newsweek doesn't mean that the rest of us 20 somethings aren't struggling and therefor have no need to worry. Every single American should be concerned about this economic crisis, especially this outrageous bailout that's aim is to rob every single one of us of our money and give it to the jerks that got us into this mess . Wake up and smell the bs kids! If you're going to be this shallow and ignorant, you can take your ipods and shove it!

This situation is not the worst that could be happening right now. Pundits keep saying that if we do not act the whole economy will suffer. Here on Main Street we are actually more stable than the gurus would like to let on. As long as the fed keeps reserves on hand to keep inserting money into the market that will allow banks to lend to borrowers for that new car, house and business we will keep moving forward even if it is at the pace of a snail. However if we divert the reserve funds to bail out companies the gov't will not have enough liquid asset without borrowing from another country to keep the market alive. The program to sell off these illiquid assets would take to long to regain any financial compacity to restore our marketplace. The gov't should allow these companies to sell off their own illiquid assets for the standard 66% of the appraisal tax value, and if they can not function after this measure they need to sell off some of their physical assets until either they recover or a competitor takes their place.

Well gee, a trillion dollars doesn't come out of thin air. The fed's going to put the government (us) into more debt. That means the dollar will weaken, commodities will go higher, unemployment will increase because we can't buy as much, the financial markets will be tight for some time to come, and etc. This is horrendous. You know, it does matter who is elected to the White House and Congress. This past 8 years is a case study for that argument.

"I'd rather be, I dunno, paying the Apple Store than the U.S. government."

It's kind of scary that college grads who work at Newsweek could be this ignorant.

This article is a waste of time. I imagine it was written by a 50 year-old masquerading as two 20-somethings. But, it proves the fact that older generations are ignorant of the contributions and hard work that 20 somethings are making to society and being taken advantage for. Why do we have debt? Because we all have expensive college degrees and are still making only $10 an hour, because we lack 'experience' even though most of the start-ups of our generation are the only thing currently driving the economy (umm.. Google?). We're offsetting the cost of older generations health care, are unable to buy houses because the prices are being over inflated by corporate greed, our savings are getting destroyed by inflation, and no one cares. What do I have to loose if the economy crashes? To be honest Not a whole lot, I don't have anything to loose, society hasn't given me anything that I haven't had to work for and that's how it should be. It has nothing to do with wasteful spending on my part, rather it has everything to do with having to bail every other generation out who is taking advantage of us and passing there losses off to us in the form of higher inflation, higher insurance costs, higher housing costs, and higher education costs. Frankly, if the fed does not bail out the banks I bet I will be more likely to be able to afford a house in the next 5 years, because the price wont be kept artificially high at the expense of inflation (so glad I saved all that money...). Someone is going to get left holding the bag on this one, and as usual it's the ignorant lazy 20 somethings that have no work ethic and no responsibility... oh wait...

Who talks like this? This is not a real conversation with the long blocks of speech from one side and the obviously scripted lines ("Not fair!"). I have a suspicion some 40-year old writer was like, "Yeah, this is what those kids would sound like- clueless about the economy and obsessed over thier Ipods. They will totally buy this as realistic!"

Who talks like this? These long paragraphs and obviously scripted lines ("Not fair!...")- this is not a real conversation. People interject, interrupt, and actually converse about a topic. I have a suspicion some 40-year old writer was like, "Yeah, this is what those young kids would sound like- clueless about the economy and more worried about their Ipods. They will totally buy this as realistic."

I will say though i do agree with the Dems no CEO should get a dime for failure. Golden parachutes last, PEOPLE FIRST!!! the Dems are RIGHT to balk!!!

I don't know about the 20 somones both my sons are in there, but if i were a congressman i would be leaving tweenkies every where as all my stock is worthless,,,, unless I BAIL MYSELF OUT.

This article was a complete waste of time. I'm 24, work full time at a decent job, yet I can't afford to move out of my parents house because of student loan debt - apparently my parents were "too rich" for financial aid and I had to take out loans for the entire cost in my own name. My parents aren't well off enough to pay for college for two kids, rising gas price, the rising cost of everything and a mortage. What happened to the middle class? I really don't appreciate these two airheads going back and forth about bars and ipods when there is a serious economic crisis in America right now. I'm assuming they get paid pretty well and don't have any student loan debt. I hope they enjoy their bottle service and ipods.

Bottle service? I wish i was a college grad working at Newsweek.... This guy is more near Anthony Soprano Jr. than the 20 year olds I know.

No offense, but since you guys admittedly don't know much about this crisis, why are you writing about it? You're making the rest of us twentysomethings look like morons. Newsweek's other business coverage has been pretty darn insightful. I don't understand why they would run something like this.

I just turned 27. I'm paying off student loans from college and graduate school. I have a mortgage and car payment as well. I barely have enough money to put into my Roth IRA these days. This article was useless to me.