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What? No, during the period we Boomers grew up, there was a wartime draft: Vietnam.
The anomaly was the post-WWII economic boom. Remember that the all global industrial competition was smashed in WWII. The US had obliterated the German and Japanese infrastructures--smashed roads, smashed power plants, smashed bridges, smashed railroads, smashed factories. England was heavily damaged, France and Italy heavily damaged. The USSR and China were still half a century behind.
The end of the war also left the US with new access to cheap resources that had previously been locked up by European colonialism.
That left the US "the last man standing" after WWII. The rest of the world was in desperate need for industrial goods, and the US was the only major supplier--everything from copper wire and steel girders to washing machines and nylon stockings. If anyone wanted it, it was "Made in the USA."
Meanwhile back in the States, the US government heavily subsidized the movement of Americans from the farms to the urban factories with VA no-money-down home loans and the GI bill. That is where the "American Dream" of having a college degree and owning a home came from--"ordinary" people
It was in that atmosphere that we Boomers developed the idea that was normalcy--the way the world was. In fact, it was only a bubble that couldn't possibly last. The US had absolute global industrial supremacy from 1945 through the end of the 60s...when the rest of the world finally caught back up.
If you go back and look at the economic shenanigans of the early 70s, you can see the shell-gaming the government and society did to keep up appearances.
President Nixon took the dollar off the gold standard and allowed it to float against the international money market. Nixon also instituted a national wage and price freeze by executive order (imagine Obama trying something like that). Double-digit inflation--double digit home mortgage loans. Such things can't even be imagined today. And let's not forget the 1974 Arab Oil embargo that left American drivers buying fuel on even/odd day ration schedules and gas stations flat running out of gasoline with long lines at the pumps.
Women entering the workforce in droves in the 70s wasn't so much about liberation as it was about keeping the household economy afloat when it became impossible for a huge percentage of high-school educated males to support families. The American economy would have collapsed in the 70s
But not having realized we were growing up sitting on a bubble, we Boomers also taught our children that world would continue to be the same way for them. And most of us Boomers haven't caught on yet that the current problems are not a matter of bad governmental decisions--they are a matter of how the world really is when it has come back to "normal."
Very good post. It looks like the postwar period after WW2 was the anomaly, and not in line with historical fact. Everything is wonderful in a monopoly when you're the beneficiary of that monopoly.
The GI Bill after WW2 was a brand new idea, for in previous years only two types of students went to college--those who could afford it, and those who were exceptional students. Otherwise, you just didn't go, period.
In a interdependent world economy, the rest of the world was bound to catch up with the US, and indeed (with the "help" of NAFTA), they have, to the detriment of many working Americans.
What? No, during the period we Boomers grew up, there was a wartime draft: Vietnam.
Man was the boomers war, correct. What I am getting at is then there was the incentive even if you were drafted and there was a much larger army even during peace. We may not remember but there was a peacetime draft, that is how Elvis affluent time in the service. Now there is no draft so you have to say you want to goto war. Mainly due to the issues that were brought up with Nam that were never really brought up even for Korea.
I was talking post WWII era of the draft and not just about the boomers.
Last edited by mkpunk; 06-26-2014 at 09:36 PM..
Reason: added an explanation
Very good post. It looks like the postwar period after WW2 was the anomaly, and not in line with historical fact. Everything is wonderful in a monopoly when you're the beneficiary of that monopoly.
The GI Bill after WW2 was a brand new idea, for in previous years only two types of students went to college--those who could afford it, and those who were exceptional students. Otherwise, you just didn't go, period.
In a interdependent world economy, the rest of the world was bound to catch up with the US, and indeed (with the "help" of NAFTA), they have, to the detriment of many working Americans.
One challenge for young Americans is that in global competition, there is an increasing number of college educated or graduate school educated workers from India and China. Young Americans will be facing tremendous competition from those kids.
Education in India and China is not nearly as expensive as it is here. It's relatively easier for middle class people to send kids to college. They will have easier access to higher ed and lower student debt. Both are factors that enable Indian and Chinese kids to be ready for the job market and hinder Americans' options. We are already seeing this trend.
Upper middle class white Americans and many Asian Americans will be able to compete readily. But America faces enormous challenge in what to do with the rest of the young population. Their competitors speak their language. They don't often speak their competitors languages and there are so many languages.
Another advantage chinese and Indian students have is that they were not taught by baby boomer principles. Many students in china for example are given a realistic picture of the brutal nature of the world, workplace, and the global economy. They are directed to prepare themselves specifically for the global economy, obtaining the tools such as language skills, specialized skills, and travel experience. Like everything else in china, this is quite consistent and cultivated. Schools do not tell kids to choose what they love, nor do parents. Students are more likely to choose what will give them a successful career. Their decisions are based on a strategic understanding of the world, not a vague romantic sense. This does have a drawback, that they don't have many creative free spirit types and too many people do similar things. However, they will be an influential group in the global economy. They are well suited for many middle to upper middle jobs. They also have a smile on their face rather than the dreadful looks of entitled Americans.
In some situations, parents aren't going to charge rent if a child moves back in, as the whole point is to save the money. If they had the $$ to pay rent, they'd be living on their own and not interfering with their parents' lifestyles.
However, dealing with kids who don't want to work, or otherwise overstay their welcome can be a concern in other situations.
Sorry, the posts about global normalcy and the impossibility of sustaining the policies and economy of the 1940s to 1970s doesn't really hold water at all.
First, GDP - adjusted for inflation - is still MUCH higher now than it was in 1970. What's changed is the distribution of income and the share of the economy going to returns on capital instead of wages. To wit, the share of wealth held by the wealthiest 1% in 1976 was well under 20%. Now it approaches 40%. There is nothing preventing a broad sharing in this economic bounty (even post-recession) except a slavish devotion to capitalistic individualism and the notion that the status quo currently hollowing out the middle class represents some fatalistic, natural economic trend. It only happens if we allow it. But it's not because the post-war comparative advantage has dissipated.
Second, not all other nations have suffered the identical effects from globalism that we do. Germany, for the most obvious and well-worn example, has kept its industrial base, kept high unionization totals, etc.. and has not suffered the kind of consequences we have.
One challenge for young Americans is that in global competition, there is an increasing number of college educated or graduate school educated workers from India and China. Young Americans will be facing tremendous competition from those kids.
Education in India and China is not nearly as expensive as it is here. It's relatively easier for middle class people to send kids to college. They will have easier access to higher ed and lower student debt. Both are factors that enable Indian and Chinese kids to be ready for the job market and hinder Americans' options. We are already seeing this trend.
Upper middle class white Americans and many Asian Americans will be able to compete readily. But America faces enormous challenge in what to do with the rest of the young population. Their competitors speak their language. They don't often speak their competitors languages and there are so many languages.
Another advantage chinese and Indian students have is that they were not taught by baby boomer principles. Many students in china for example are given a realistic picture of the brutal nature of the world, workplace, and the global economy. They are directed to prepare themselves specifically for the global economy, obtaining the tools such as language skills, specialized skills, and travel experience. Like everything else in china, this is quite consistent and cultivated. Schools do not tell kids to choose what they love, nor do parents. Students are more likely to choose what will give them a successful career. Their decisions are based on a strategic understanding of the world, not a vague romantic sense. This does have a drawback, that they don't have many creative free spirit types and too many people do similar things. However, they will be an influential group in the global economy. They are well suited for many middle to upper middle jobs. They also have a smile on their face rather than the dreadful looks of entitled Americans.
Agreed with you. But Chinese and Indians don't come without their own weaknesses. We still don't know exactly the real consequences of the one child policy but many of these single child in China raised by 5 adults (including grandparents) come out worse than boomer raised kids in term of being weak and spoiled. In 20 years we probably going to see them struggle financially trying to care for 2 aging parents alone. Indians have a distinct language advantage since they were all taught English. But their culture is so drastically different, I think they have a harder time or unwilling to assimilate into American culture and therefore preventing them from landing the top positions in their company.
Agreed with you. But Chinese and Indians don't come without their own weaknesses. We still don't know exactly the real consequences of the one child policy but many of these single child in China raised by 5 adults (including grandparents) come out worse than boomer raised kids in term of being weak and spoiled. In 20 years we probably going to see them struggle financially trying to care for 2 aging parents alone. Indians have a distinct language advantage since they were all taught English. But their culture is so drastically different, I think they have a harder time or unwilling to assimilate into American culture and therefore preventing them from landing the top positions in their company.
I don't know about the Chinese kids, but the kids from India who go into tech careers seem to be doing remarkably well. I live in a tech community and the Indian families seem to be assimilating just fine. Don't know if they are getting the top jobs, but they are holding down jobs with six figure salaries and competing readily with American born workers.
We have a neighbor who works for a large tech company and works mainly at home. Says his coworkers from India rarely work remotely, so any time he goes into the office, he needs to assimilate to their office culture.
The anomaly was the post-WWII economic boom. Remember that the all global industrial competition was smashed in WWII. The US had obliterated the German and Japanese infrastructures--smashed roads, smashed power plants, smashed bridges, smashed railroads, smashed factories. England was heavily damaged, France and Italy heavily damaged. The USSR and China were still half a century behind.
The end of the war also left the US with new access to cheap resources that had previously been locked up by European colonialism.
That left the US "the last man standing" after WWII. The rest of the world was in desperate need for industrial goods, and the US was the only major supplier--everything from copper wire and steel girders to washing machines and nylon stockings. If anyone wanted it, it was "Made in the USA."
Meanwhile back in the States, the US government heavily subsidized the movement of Americans from the farms to the urban factories with VA no-money-down home loans and the GI bill. That is where the "American Dream" of having a college degree and owning a home came from--"ordinary" people
It was in that atmosphere that we Boomers developed the idea that was normalcy--the way the world was. In fact, it was only a bubble that couldn't possibly last. The US had absolute global industrial supremacy from 1945 through the end of the 60s...when the rest of the world finally caught back up.
If you go back and look at the economic shenanigans of the early 70s, you can see the shell-gaming the government and society did to keep up appearances.
President Nixon took the dollar off the gold standard and allowed it to float against the international money market. Nixon also instituted a national wage and price freeze by executive order (imagine Obama trying something like that). Double-digit inflation--double digit home mortgage loans. Such things can't even be imagined today. And let's not forget the 1974 Arab Oil embargo that left American drivers buying fuel on even/odd day ration schedules and gas stations flat running out of gasoline with long lines at the pumps.
Women entering the workforce in droves in the 70s wasn't so much about liberation as it was about keeping the household economy afloat when it became impossible for a huge percentage of high-school educated males to support families. The American economy would have collapsed in the 70s
But not having realized we were growing up sitting on a bubble, we Boomers also taught our children that world would continue to be the same way for them. And most of us Boomers haven't caught on yet that the current problems are not a matter of bad governmental decisions--they are a matter of how the world really is when it has come back to "normal."
I think you are on to something here. Post WWII folks had a happy-days-are-here, Yankee-ingenuity-will-solve-any-problem-that-comes-up, we're-the-top-dogs mindset.
I don't know about the Chinese kids, but the kids from India who go into tech careers seem to be doing remarkably well. I live in a tech community and the Indian families seem to be assimilating just fine. Don't know if they are getting the top jobs, but they are holding down jobs with six figure salaries and competing readily with American born workers.
We have a neighbor who works for a large tech company and works mainly at home. Says his coworkers from India rarely work remotely, so any time he goes into the office, he needs to assimilate to their office culture.
They may seem to be assimilating, but frequently they are as shakey in their jobs as the proverbial fiddler on the roof.
I've been working closely with Indians in my company for 15 years now. In one case for several years I was the only American on a 17-person IT support team.
How Indians interface and operate depends a lot on the corporate environment. In my company, it's not just a division of citizens/non-citizens but also internal/external as well as IT/non-IT. All these factors shade the relationship.
Nobody in this company is getting into management without being a citizen and an internal employee, obviously. There are a great many Indians in Systems, but only as vendor external employees who can't be on a management track. The company also keeps hands totally off any naturalization efforts.
For a long time, the impediment to American IT folk has been their own reluctance to move to the company's headquarters--that gave Indians a distinct edge because they required no recruitment effort. The company is reversing that situation by moving more Systems assets to cities that are already home to American IT workers, and at the same time it's shedding the heavy Indian profile.
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