The past two months have been tumultuous—that is without question. The fluctuations in the market, failing banks, and international depressions have ignited the ripple effect that will change the face of every neighborhood in this city, every town between New York and California, and every country from China to Peru.
In New York, our apartment buildings will empty; local dry cleaners will close; mom and pop novelty stores will be chained; vacancy signs will replace daily soup specials; and rents will continue to rise.
Without the Wall Street bonuses pumping this city with energy, the boom in the local economy will unquestionably turn stale. It’s a sad reality to see the young and talented crumble at the feet of the elite that created this mess. Since the sub-prime meltdown, we have seen more dreams destroyed and severances for those under thirty than anyone expected. A number that will undoubtedly rise as more Generation Y’s are forced to move out of the city and into other industries.
This Generation Y, often coined as spoiled and narcissistic, has been criticized by economists throughout the media as walking into the workplace with silver spoons and outlandish expectations. Countless predictions about my Generation Y, the Ritalin generation, vary from our arrogance and idea of entitlement to lacking the patience and diligence necessary to climb the corporate ladder. We grew up in a generation of high consumerism and constant communication through innovative anything and we share almost everything.
As of last week, we are now the arrogant, elitist, spoiled, and narcissistic generation that will be sharing the bill for the skyrocketing government expenditures—the $700 billion bailout, the $562, 279,560,928 (as of 10/13/08 11:50 EST) cost of the Iraq war, and the increasing federal debt.
We are also a generation that has registered the most voters in the history of the presidential elections. Despite the volatile market and failing world economies, we are still optimistic. We can still make a difference in our future and pick up the pieces of our past. The economy is now ours to fix and the election is now ours to influence.
In November, we may just be the arrogant, elitist, spoiled, and narcissistic generation that changes the face of this country and once again proves our resilience.