Sky News contributor Peter Switzer has disagreed with other economists blaming millenials for market volatility, instead arguing they are responsible for "pushing the market up" during the coronavirus pandemic. "In the bad old days, it was basically the fund managers and brokers controlling whatever happened on a stock market, particularly when a crash came," Mr Switzer said.
"Lots of young people are piling in, buying in the morning, selling in the afternoon, and it's probably led to a bit of froth in the market. "This generation is very money savvy. They've looked at the stock market and they know a crash is the best time to get in." Mr Switzer said a lot of young people saw the pandemic as an opportunity to make money. "As long as you're buying quality companies, there will be a comeback in a couple of years.
Blame the Fed for creating a 'risk free' environment for trading, at a time when the risks have never been greater.
Totally agree. If i had a few spare cents I would have done the same, however as a casual worker it seemed wiser to put the money into my offset account.