Posted at Hartmann Report on Aug. 24, 2025
Saving the American Dream for Zoomers and the rest of us: The Hidden History of the American Dream
As I mentioned in the opening chapter of this book, when my Boomer generation was the same average age as the Millennial generation is today, back in 1990, our generation held 21.3% of the nation’s wealth. Louise and I shared in that wealth; although we were still in our 30s, in 1990 we owned a profitable small business (our fourth) and a nice home in suburban Atlanta.
Millennials today, in contrast, are about the same number of people as Boomers were in 1990 but hold only 4.6% of the nation’s wealth and, if they’re the same age I was in 1990, they’re most likely struggling to own a home, are deeply in debt, and find it nearly impossible to start a small business.
And the story for Zoomers is pretty much the same.