Wall Street Journal staffer David Weidner looks at research from the Federal Reserve Bank of St. Louis on the impact and potential ramifications of Generation X’s debt burden (paywall). Weidner writes, “while U.S. incomes have risen 23% and household debt levels have fallen 12.5% since the depths of the Great Recession, the negative financial fallout remains pronounced for Generation X, according to the study.” It’s carrying the biggest debt burden, which includes credit card balances, mortgages and student loans, of any generation before or after.” Hmmmm. Looks like the spoils will go to those who figure out how to meet this cohort’s need at the corner of Pain Street and Fear.
The Rodney Dangerfield Cohort: Generation X
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