Millennial economic woes spell long-term problems for everyone

Millennials take a lot of heat for our consumer preferences — preferences that, thanks to our sheer numbers, have the power to either tank or reinvent entire industries. Declining and shifting interests in things like golf, dinner dates, movie theaters, cruises, and homeownership have all seen a millennial realignment. Since the economy has been good, millennials have been able to dictate their preferences and choices through spending.

But what will happen when the economy sours? When a recession does come, it’s likely that millennials will have a heavy impact on the economy itself — and it won’t be a good one.