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Old 06-16-2019, 07:51 AM
 
2,729 posts, read 1,747,774 times
Reputation: 5962

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Quote:
Originally Posted by lieqiang View Post
Sheesh what nonsense. People can live perfectly happy lives not being the top 20%. House, car, eating out, some vacations, etc. all that ****.

Please dial back the shrill hyperbole a bit.


Really? You think nobody but the top 20% lives in a climate controlled environment, eats out regularly, takes vacations, has smart phone, a couple of cars in the driveway because garage is filled with too much stuff, etc? Come on man where are you setting the bar for "everything" in this statement?
By the top 20 percent, I mean those that are actually sought after by employers. In that they have stability in life and the ability to go most anywhere in the country with their family. In other words, they have options. Go and read the work and employment forum and you’ll see how the general population feels about THEIR options.

And no, people have those things. As they slip further into debt.

And of course, households usually have/need two workers. And those workers face more competition because woman and minorities are prevalent in the workforce. There’s also more international competition and more advanced automation.
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Old 06-16-2019, 07:59 AM
 
2,134 posts, read 524,377 times
Reputation: 3724
Quote:
Originally Posted by Thatsright19 View Post
How do you know what your classmates AND their spouses make?
"Everything on the Internet is True." -- Abraham Lincoln
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Old 06-16-2019, 08:11 AM
 
429 posts, read 104,127 times
Reputation: 1026
Public sector jobs have pension plans.

In corporate America though everyone didn't have a pension. Only 45% of employees had pension plans in 1970 which was the peak and it only went downhill from there.
Plus you had to remain with that company for 25-30 years. Most workers stay less than 5 years on a job..not even long enough to be vested even if there were a pension plan.


https://www.workforce.com/2016/06/21...ment-benefits/
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Old 06-16-2019, 08:16 AM
 
Location: Kenmore, WA
7,491 posts, read 6,472,008 times
Reputation: 10926
Quote:
Originally Posted by Lycanmaster View Post
https://www.zerohedge.com/news/2019-...wed-generation

https://www.adweek.com/brand-marketi...dea-after-all/



As I've mentioned in the past, many if not most industries have been heavily reliant on Baby Boomers to keep themselves afloat and healthy.

Once the Boomers start retiring or dying off in greater numbers, the economy is going to be in MASSIVE trouble.

Simply put, the Millenial generation is FAR poorer and indebted to sustain our current living standards...
As a member of the tail end of the Boomers, and a long time subject of Capitalism made manifest in the rise of Corporate America, all I can say is "the sooner it dies the better."

As a business school graduate, I can clearly state that nothing has been worse for economies than corporations and banks -- and marketing. The preponderance of the three gave rise to multi-nationalism, which pitted countries against one another and has led the world into the chaos it now is. God save us all from professional managers that skip from level to level without heed to the damage they've wrought upon their communities.

Our best economic times were when the average business model had less than twenty employees and served its local market.

The best thing we could do right now is cut all funding and tax breaks to multi-national corporations, and force them to declare a country. I detest the idiot inhabiting the oval office right now, but he does have a few good points, though poorly executed. Any foreign corporation supplying goods or services to this country's markets should be taxed with tariff, so that local businesses can compete. American businesses should consider their community and employees on equal footing as their stockholders, and if the local labor market does not provide the skills they need they should train them. Local governments, businesses and schools should meet continually to assure one another that students are prepared to meet the skills market that best serves their region.

Banks should go back to encouraging savings over debt. One's credit rating should be based on their savings, not on their ability to pay.

Parents' child tax credits should be placed into an education fund for that child's education, and medical needs. To reduce the population pressure on the planet, child tax credits should stop at two, but that's off topic.

As for the subsequent generations following us boomers, they get a lot of things right. They are more willing to express themselves and their personal interests irrespective of the social norms, and that expression is often illuminating and inspiring. Sadly, and for this I blame poor parenting, they are increasingly more self-involved and less community spirited -- though this is not true as a blanket statement.

I think if the "powers that be" get out of the way and my suggestions take root, we could find ourselves in a less crowded, better situated economy -- and be happier as a society than any prior. The last thing we need is to continue to support outdated overlords and businesses or banks "too big to fail."
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Old 06-16-2019, 08:20 AM
 
527 posts, read 616,303 times
Reputation: 779
Quote:
Originally Posted by lieqiang View Post
Sheesh what nonsense. People can live perfectly happy lives not being the top 20%. House, car, eating out, some vacations, etc. all that ****.

Please dial back the shrill hyperbole a bit.


Really? You think nobody but the top 20% lives in a climate controlled environment, eats out regularly, takes vacations, has smart phone, a couple of cars in the driveway because garage is filled with too much stuff, etc? Come on man where are you setting the bar for "everything" in this statement?
The poster is talking about people in their field that are in the top 20 percent in their field that emoyers are willing to pay for. There is a lot of truth to it.
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Old 06-16-2019, 08:23 AM
 
527 posts, read 616,303 times
Reputation: 779
Quote:
Originally Posted by LookinForMayberry View Post
As a member of the tail end of the Boomers, and a long time subject of Capitalism made manifest in the rise of Corporate America, all I can say is "the sooner it dies the better."

As a business school graduate, I can clearly state that nothing has been worse for economies than corporations and banks -- and marketing. The preponderance of the three gave rise to multi-nationalism, which pitted countries against one another and has led the world into the chaos it now is. God save us all from professional managers that skip from level to level without heed to the damage they've wrought upon their communities.

Our best economic times were when the average business model had less than twenty employees and served its local market.

The best thing we could do right now is cut all funding and tax breaks to multi-national corporations, and force them to declare a country. I detest the idiot inhabiting the oval office right now, but he does have a few good points, though poorly executed. Any foreign corporation supplying goods or services to this country's markets should be taxed with tariff, so that local businesses can compete. American businesses should consider their community and employees on equal footing as their stockholders, and if the local labor market does not provide the skills they need they should train them. Local governments, businesses and schools should meet continually to assure one another that students are prepared to meet the skills market that best serves their region.

Banks should go back to encouraging savings over debt. One's credit rating should be based on their savings, not on their ability to pay.

Parents' child tax credits should be placed into an education fund for that child's education, and medical needs. To reduce the population pressure on the planet, child tax credits should stop at two, but that's off topic.

As for the subsequent generations following us boomers, they get a lot of things right. They are more willing to express themselves and their personal interests irrespective of the social norms, and that expression is often illuminating and inspiring. Sadly, and for this I blame poor parenting, they are increasingly more self-involved and less community spirited -- though this is not true as a blanket statement.

I think if the "powers that be" get out of the way and my suggestions take root, we could find ourselves in a less crowded, better situated economy -- and be happier as a society than any prior. The last thing we need is to continue to support outdated overlords and businesses or banks "too big to fail."
That stuff is long gone. It's all about revenue and profits for payouts to executives and high level producing revenue makers. I know this is the case because if what I do for a living.
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Old 06-16-2019, 08:26 AM
 
527 posts, read 616,303 times
Reputation: 779
Quote:
Originally Posted by Thatsright19 View Post
How do you know what your classmates AND their spouses make?
If you know what one does for a living it is very easy to know what their estimated income is. Salaries get posted on Glassdoor and other sites on a regular basis now.
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Old 06-16-2019, 08:40 AM
 
2,729 posts, read 1,747,774 times
Reputation: 5962
Quote:
Originally Posted by TMSRetired View Post
Public sector jobs have pension plans.

In corporate America though everyone didn't have a pension. Only 45% of employees had pension plans in 1970 which was the peak and it only went downhill from there.
Plus you had to remain with that company for 25-30 years. Most workers stay less than 5 years on a job..not even long enough to be vested even if there were a pension plan.


https://www.workforce.com/2016/06/21...ment-benefits/
Public sector has pensions sure. At a huge cost to your current earnings and uh your career trajectory. Also, many of these pension plans are way lessor to current workers because of cutoff dates.

Oh only 45 percent. My guess is that was a high percentage of the large companies and good jobs. Because of course small companies or less skilled professions probably didn’t have it or the expectation to have it. 45 percent is high.

People stay less time today because there’s often little incentive to do so. There’s no pension to stay for and your career earnings are often left lower today by staying with the same company. You get better opportunity and raises by going to competitors. I’ve aggressively left jobs because I wasn’t given promotions I deserved and I’ve more than doubled my starting salary because of it. Staying with the same company in some cases can destroy your career prospects.
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Old 06-16-2019, 08:46 AM
 
2,134 posts, read 524,377 times
Reputation: 3724
Quote:
Originally Posted by LookinForMayberry View Post
As a member of the tail end of the Boomers, and a long time subject of Capitalism made manifest in the rise of Corporate America, all I can say is "the sooner it dies the better."

As a business school graduate, I can clearly state that nothing has been worse for economies than corporations and banks -- and marketing. The preponderance of the three gave rise to multi-nationalism, which pitted countries against one another and has led the world into the chaos it now is. God save us all from professional managers that skip from level to level without heed to the damage they've wrought upon their communities.

Our best economic times were when the average business model had less than twenty employees and served its local market.

The best thing we could do right now is cut all funding and tax breaks to multi-national corporations, and force them to declare a country. I detest the idiot inhabiting the oval office right now, but he does have a few good points, though poorly executed. Any foreign corporation supplying goods or services to this country's markets should be taxed with tariff, so that local businesses can compete. American businesses should consider their community and employees on equal footing as their stockholders, and if the local labor market does not provide the skills they need they should train them. Local governments, businesses and schools should meet continually to assure one another that students are prepared to meet the skills market that best serves their region.

Banks should go back to encouraging savings over debt. One's credit rating should be based on their savings, not on their ability to pay.

Parents' child tax credits should be placed into an education fund for that child's education, and medical needs. To reduce the population pressure on the planet, child tax credits should stop at two, but that's off topic.

As for the subsequent generations following us boomers, they get a lot of things right. They are more willing to express themselves and their personal interests irrespective of the social norms, and that expression is often illuminating and inspiring. Sadly, and for this I blame poor parenting, they are increasingly more self-involved and less community spirited -- though this is not true as a blanket statement.

I think if the "powers that be" get out of the way and my suggestions take root, we could find ourselves in a less crowded, better situated economy -- and be happier as a society than any prior. The last thing we need is to continue to support outdated overlords and businesses or banks "too big to fail."
LOL! Someone's been watching too much Rachel Maddow. And spending too much time in the Politics & Other Controversies forum.
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Old 06-16-2019, 08:54 AM
 
12,704 posts, read 9,959,474 times
Reputation: 9515
Quote:
Originally Posted by Thatsright19 View Post
The thing Iíll say about my generation that I 100% believe is you need to be top 20% or youíre screwed. Those people get job offers, are highly educated, and make well over 100k with their spouse by age 30. I feel these groups are maybe even better off than say my parents were so young.

However, the rest have had everything stripped out. In other words, the days of being average and making it are over. People could literally float through life like a rudderless ship and then fall into a good paying job with a pension. Very very average people would get great financial outcomes in life. I donít think that happens today without a relentless plan for your craft. Often from a very young age you have to have it together.

I absolutely agree about valuing experiences. Thatís the time Iím having my most fun and enjoying life. While we have a new home and nice things, my dad as a child used to take car of that house like it was his sole reason for living. My goal has always been to farm that work out and do what I want to do.


The pension thing is what always annoys me the most actually because people today are missing that huge chunk of deferred compensation. A 50,000 pension is probably $1 million of 401k Not only do professions have more requirements to make it today, with less stability, but often times salaries have been kept lower with worse benefits. And all the cost and risk of getting into the profession has been transferred to the individual as well.

People I knew who came up through the auto industry raised 6 kids on single incomes and still had boats and vacation homes. As regular workers. They didnít have emails and cell phones to keep them chained to their jobs at all hours either. When they left work, they left work. I could never do that (6 kids, 1 income, vacation home) today even while working in corporate hqs in global business units.


The millennials are lazy crowd is quite often some of the least objective and difficult people to argue with that Iíve ever seen.
Actually, almost half of this generation is not even married by age 30. What numbers would you quote for singles?
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