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Thanks for ****ty, second rate country we'll inherit! You did an amazing job managing & squandering the most prosperous time America has ever experienced, and in the process stealing from future generations
Just for reference, in the 2008 presidential election, the youngest group of voters went by the largest margin of any group for Barack Obama. Your reward: an anti-prosperity agenda and massive borrowing for you to pay back later.
You can begin to fix your mistake by voting for Republican congressional candidates in 2010, to dethrone Nancy Pelosi.
In the meantime, make your own prosperity, whiner.
Last edited by marcopolo; 07-15-2010 at 09:47 PM..
Reason: typo
Quit your crying. You naively believe all boomers made this problem while you worry in other posts that taking a part time job will adversely affect your unemployment benefits and you want Congress to continue to pay you not to work.
You seriously need to look into a mirror for the reason America is in the sad shape it is. What you will see in that mirror are members of every American generation who believed with all their hearts that you can get something for nothing. That has not changed since America was founded.
correct, lots of lazy people with their hand out
Look at your own generation.
A few years ago, the average age of an S&P pit trader was 25.
Last edited by BestintheWest; 07-15-2010 at 09:57 PM..
The parents of the boomers saved at extraordinary rates as they were scared due to the Great depression. When this occurs families start investing that savings (or let it collect interest in a savings account) and with compounding these families begin to become very wealthy (even if they don't make a lot at their job). The boomers were then born into an era where these parents preached of the hard times they endured but due to the wealth of Americans, most boomers didn't understand or think anything could get that bad again.
When you are born into a situation where life is great, and you can buy things WITH CASH that most others around the world only dream of, then you keep the good times rolling. Eventually the cash ran out, because MOST (not all) of the boomer generation only understood how to spend and not save, like their parents did.
This is only cyclical, no need to get upset. We will now become those "parents of the boomers," and once we've paid off debts and become wealthy (not indebted with lots of "stuff) then our kids or grandkids will enjoy that wealth. Most likely, they will do the same thing the "boomers" did and squander the money. I don't want to get to in depth but there are some pretty good statistics that back this up (plus it's just obvious if you look around and see how "rich kids" act compared to their parents that were "self-made millionaires"). You will notice that the parents live very simple lives while those "rich kids" live very extravagant lives, because that's all they ever knew.
So this cycle will happen again. America is fine and will prosper well into the future. It's nothing to get bent out of shape over, just start saving and make sure you pay off your debts (if you have any).
This is probably true, but in the meantime, the Boomers get to lead the good life while their parents (The Greatest Generation), children (Gen Xers), and grandchildren (Gen Yers) pay for it.
1-Their parents paid for their upbringing, indulging their hedonistic 60s/70s adolescence
2-When they got to be adults, social spending went from help for the needy to a lifestyle for the poor
3-Now, when they're growing old, they will NEVER let anything happen to their social security or medicare. Who pays for that? Gen X/Yers...but guess what? We'll bankrupt SS/Medicare just as Gen X starts to retire. Yay!
So yeah, you're right...Gen X/Y will start to save as the Greatest Generation did, and we'll have to live an austere life in comparison to the Boomers.
I've already accepted it...I've accepted that Social Security won't be there when I retire, that I'll have to live a leaner life than my parents did, etc...and mostly swallowed that bitter pill, but every so often, it makes me feel better to vent about it.
This is probably true, but in the meantime, the Boomers get to lead the good life while their parents (The Greatest Generation), children (Gen Xers), and grandchildren (Gen Yers) pay for it.
1-Their parents paid for their upbringing, indulging their hedonistic 60s/70s adolescence
2-When they got to be adults, social spending went from help for the needy to a lifestyle for the poor
3-Now, when they're growing old, they will NEVER let anything happen to their social security or medicare. Who pays for that? Gen X/Yers...but guess what? We'll bankrupt SS/Medicare just as Gen X starts to retire. Yay!
So yeah, you're right...Gen X/Y will start to save as the Greatest Generation did, and we'll have to live an austere life in comparison to the Boomers.
I've already accepted it...I've accepted that Social Security won't be there when I retire, that I'll have to live a leaner life than my parents did, etc...and mostly swallowed that bitter pill, but every so often, it makes me feel better to vent about it.
This is true, and one poster mentioned that they will be unwilling to give up social security/medicare...well they will have to, they won't have a choice. Both of these programs are running on edge. Social Security, Medicare, and Medicaid make up $50 trillion in long-term debt obligations in this country (out of about $67 trillion total), so more than 3/4 of our debt obligations are to these programs. They will have to be cut drastically, or we will be printing money so fast (in order to keep them) that we will literally create hyperinflation in this country. Once push comes to shove, I think the politicians will be forced to do the right thing. Not because they want to but because they have to in order to conserve the purchasing power of our currency. They will be willing to deal with high inflation, but imagine 50% inflation, annually...I know we have dumb people in Washington, but I doubt anybody is dumb enough to allow something like that to continue for a sustained period of time without correcting the problem. Eventually we will see a situation like Europe, where our leaders come out and say we HAVE to make huge cuts across the board (just as the UK has come out and said). Sure, the baby boomers may riot (just like we saw in Greece when they mentioned cutting entitlement programs), but it will have to be done.
As for not being able to live the type of life the boomers lived...I really could care less. I'm currently 23, and have been working since high school and through college...due to my frugality I'm worth more than most people in their 50's, as I invested every dollar I could get my hands on. I love watching my wealth grow, and there's nothing money can by that will truly make me happy. I love doing things outdoors, and hanging out with my girlfriend and family...it's free to do all three of those things. When it's nice out I already ride my bike, instead of drive. I don't go out to eat other than splurging on Chipotle or Subway a couple times a month. Right now my life is great, and I will probably be able to live the "california lifestyle," when I'm older but I seriously doubt I will. I just need a good family, and a house that's paid off. From there my money will go into investments.
My fear is that politicians will still find ways to load up on debt for a while longer. We will "only" be around 100% of GDP by 2012. If we really leverage our position and use a few dirty tricks to hype up our own bond issues, I bet we could float around 200 to 220% of GDP worth of debt before buyers stop biting altogether.
Thanks for ****ty, second rate country we'll inherit! You did an amazing job managing & squandering the most prosperous time America has ever experienced, and in the process stealing from future generations
Bite me fanboy!
By skipping history in all of middle grades you seem to have missed the important fact here. We are all victims, big business has done this and all America is being dragged by what we hope are on shirt tails. Why not whine to your mother and father instead of people on a forum, bet your mom and dad would kick the #**t out of you. Then again they raised you, kinda.
This is true, and one poster mentioned that they will be unwilling to give up social security/medicare...well they will have to, they won't have a choice. Both of these programs are running on edge. Social Security, Medicare, and Medicaid make up $50 trillion in long-term debt obligations in this country (out of about $67 trillion total), so more than 3/4 of our debt obligations are to these programs. They will have to be cut drastically, or we will be printing money so fast (in order to keep them) that we will literally create hyperinflation in this country. Once push comes to shove, I think the politicians will be forced to do the right thing. Not because they want to but because they have to in order to conserve the purchasing power of our currency. They will be willing to deal with high inflation, but imagine 50% inflation, annually...I know we have dumb people in Washington, but I doubt anybody is dumb enough to allow something like that to continue for a sustained period of time without correcting the problem. Eventually we will see a situation like Europe, where our leaders come out and say we HAVE to make huge cuts across the board (just as the UK has come out and said). Sure, the baby boomers may riot (just like we saw in Greece when they mentioned cutting entitlement programs), but it will have to be done.
As for not being able to live the type of life the boomers lived...I really could care less. I'm currently 23, and have been working since high school and through college...due to my frugality I'm worth more than most people in their 50's, as I invested every dollar I could get my hands on. I love watching my wealth grow, and there's nothing money can by that will truly make me happy. I love doing things outdoors, and hanging out with my girlfriend and family...it's free to do all three of those things. When it's nice out I already ride my bike, instead of drive. I don't go out to eat other than splurging on Chipotle or Subway a couple times a month. Right now my life is great, and I will probably be able to live the "california lifestyle," when I'm older but I seriously doubt I will. I just need a good family, and a house that's paid off. From there my money will go into investments.
If history is any guide the boomers will be more willing to make cuts on themselves as comparred to the G.I. Gen. Read generations and The Fourth Turning by Strauss & Howe.
Poor you. Like nobody else inherited a mess? You should've seen the country when we got it. Rivers were burning. The economic crises came every decade. Blacks were still lynched in the South. Women were raped and then blamed for it.
Oh yeah, you've got it real tough. Deal with it. Grow up.
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,833,234 times
Reputation: 6438
Quote:
Originally Posted by High_Plains_Retired
I would guess that most of us here have already surmised that.
You must spread some reputation around before giving it to High_Plains_Retired again.
Drat. That was a ZiiiiIIIIIIING!!ER.
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