Submitted by Eric Peters, CIO of One River Asset Management
Millennials will overtake Boomers in 2019.
We’ll have 73mm Millennials (growing through immigration) and 72mm Boomers (as America’s Most Selfish Generation races to meet its maker). By 2036 we’ll have 76mm Millennials and 50mm Boomers. 59% of Millennials are Democrats or lean that way (only 32% are Republican or lean that way). 49% of Millennial men are Dems or lean that way (41% are Reps or lean that way). 70% of Millennial women are Dems or lean that way (23% are Reps or lean that way). And these stunning gaps just keep widening.
58% of Millennials express a clear preference for big government. 79% believe immigrants strengthen the US, compared to just 56% of Baby Boomers. On foreign policy, 77% are far more likely than Boomers (52%) to believe peace is best ensured by good diplomacy rather than military strength. 67% want the state to provide universal healthcare, and 57% want higher public spending and the provision of more public services, compared with 43% of Boomers. 66% of Millennials believe that the system unfairly favors powerful interests.
“You endanger your majority by not doing what got you into the majority,” said Ilhan Omar, Millennial Congresswoman. “Republicans often are in tune with that, Democrats are not. We seem to be afraid of our own shadow. We’ve become too afraid to actually listen to the people, and to recognize who our base is,” she said. “I’m fascinated by Republicans. They seem to have, for good or bad, a full understanding of their base and complete loyalty to them. We have a bigger base, but we seem to not understand them or have loyalty to them. When you are constantly trying to figure out how to appease everyone, you end up not appeasing anyone.”