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Mar 07

Did Banks, Government And Schools Fail Millennials? – Forbes

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Two men calling themselves the “Mouthpiece of the Millennials” launched a podcast today designed to help empower a generation saddled with student loan debt, and struggling to finding meaningful jobs that meet their financial needs. They say the “system” in place worked for earlier generations but is no longer functional for young adults, and that’s why they’ve created the “Smart Millennial Business” podcast and website as a way to foster entrepreneurship and to help their listeners navigate the world.

“Formal education and our government have failed the Millennial generation— bankers, like they always do, simply capitalized on the situation,” says “Smart Millennial Business” co-host Michael Berg, a 26-year-old web designer who describes himself as “a disaffected corporate drop-out.” “It’s common knowledge that when it comes to investing, you want to buy low and sell high.” His theory is that once the tech and housing bubbles burst, student loans became the next territory for banks to conquer.

Securitizing student loans allowed a small group of rich people to become extremely rich by bidding up the price of our generation’s investments to sky-high levels,” Berg said. “This wasn’t a scam, it’s simply how complex systems can be made to work in favor of the select few who control them.”

The podcast’s other host is Gen X’er Patrick Truhlar, 43, a former investment banker turned serial entrepreneur. They are united in their mission to help Millenials navigate the psychological, financial and practical territory common to so many in their generation. “I’m just now getting back from speaking to a business development class of 200 at the University of Central Florida, and over and over again students came up to tell me that it’s not that they’re uninterested, it’s just that they had no idea their future employers wanted or they expected them to already have these skills developed by the time they apply. It’s truly an ‘I didn’t know how much I didn’t know’ situation,” Berg said. “Our podcast has two primary goals: to teach Millennials how to take ownership of their own professional development (invest better, work smarter, etc.) and to silence our generation’s critics who believe we’re all just lazy, entitled, and needy by highlighting areas where everyone can learn from the way young adults do things.”

Source: Did Banks, Government And Schools Fail Millennials? – Forbes

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