Doug Casey on the Truth About Millennials and the Next Crisis

What’s your take on how Millennials will shape the future of the United States?

  • Let’s look at this from a long-term perspective—over the last 120 years. At the turn of the 20th century, something like 85% or 90% of Americans were on the farm, actually growing food, getting up at 6:00 AM, and working 16-hour days. They were on the ragged edge of starvation during bad years. Even people in the cities had it pretty tough.
  • Now, with the Millennial generation, the average American is at least three generations off the farm. A lot of them think that milk doesn’t come from cows. They think it comes from cartons. The kind of values that you get from growing up on a farm, or at least having parents who did, tend to vanish when you grow up in a suburb, have helicopter parents, and your main relationship with the outside world is electronic.
  • I don’t think that Millennials as a group really believe in themselves. A lot of blacks, Hispanics, and immigrants are resentful; a lot of the whites feel guilty and unjustly entitled. Few in any of these groups any longer seem to believe in the values—like individualism, personal responsibility, and liberty—that actually made the US different once upon a time. Forget about freedom of thought, freedom of speech, freedom of the press, and free markets. All of these things are radically under attack. Those things are why America became what it is—or once was. It’s being washed away.
  • The world is on the verge of multiple crises and the economic situation is on shaky ground. Negative interest rates and the devaluation of currencies will only put fuel on the fire.

 

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