Thiel believes that Trump is the man to do it because he understands the value of hard work, he comes from a business background, and he is an outsider, not a member of the chummy Washington political establishment.
Thiel argues that the baby boomer generation had a tendency to invest in bubbles. Thiel is insightful when he says that "something about the experience of the boomers" is to blame.
The boomers rode the wave of prosperity that naturally arises after a long period of war, and they were never forced to confront certain realities. Perhaps it is time to retire the architects of that post-war order -- the Clintons, the Bushes, the Wall Street bankers who drew up all those bad mortgages, the globalists who outsourced American manufacturing jobs and invited waves of immigrants that drove down wages -- and reign in some of those excesses.
The dot-com bubble, mortgage bubble, housing bubble, higher education bubble and even cruder-sounding bubbles like the "p***y bubble" (or artificial female SMV inflation) have distorted the economic and social landscape young people are now trying to navigate.
Millennials are struggling to enter the real estate market. Meanwhile, they are pressured by their boomer parents to take on crushing student debts. Too often, those degrees do not lead to the stable employment students were expecting. Everybody is now scrambling to get a degree, encouraged by corporation-like universities that collect fees with aplomb and spend millions on advertising. And with people of both sexes now flooding the labor market, employers can now demand more, offer poorer conditions, and pay less. Sometimes they pay nothing at all -- witness the rise of the unpaid intern and the writer/actor/ performer who is asked to work "for the exposure," as reported by the New York Times.
"In this way, unpaid interns are like illegal immigrants. They create an oversupply of people willing to work for low wages, or in the case of interns, literally nothing."