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Consider the boomers born in the mid-1940's to early 1950's: They went to college dirt cheap. Even Ivy League Colleges were much easier to get into. Fewer people with college degrees competing for jobs, unemployment rates not as high. They bought their real estate dirt cheap, and later unloaded it for big bucks. Gasoline/oil was cheap. Many parents today, can't contribute as much to their kids college education, and the loans students are forced to take out are enormous. Colleges intentionally recruiting more foreign students to allow for bigger increases in college tuition. Then older folks call you lazy.
The U.S. population has grown by a whopping 65 million people since 1990, mostly from immigration. We have in no way been able to grow an economy to match it
You can thank government intervention for all of this. They have taxed and regulated oil and energy until it's 3X more expensive than it should be - at the behest of the environmentalists. You can thank Clinton and ACORN for pushing banks to make loans to poor families who couldn't afford the homes, and allowing no credit checks and ARM loans. You can thank the government for pushing low interest student loans (which are exempt from bankruptcy laws) and colluding with universities who then raised tuitions based on "what they could get" rather than what the market would bear. Look at all those new $BILLION stadiums student loans and taxpayers bought.
A feeble execution is but another phrase for a bad execution; and a government ill executed, whatever may be its theory, must, in practice, be a bad government. -Story
We just need full on protest again. It's the only thing that's gonna garner some attention to our issues. Conversation isn't working. The system is broken. Too many are suffering and accumulating decades of debt.
Thank you. That is exactly how Le Roi has came across to me. It's all been a what about me attitude.. and when I try to explain it from a boomer perspective, he/she could care less. We care about the younger generation, too bad we're not afforded the same consideration.
That's the problem. You are explaining a perspective. They are trying to relay an objective reality. You act as if its some debate. The financial result is in. The only debate is on what mechanism has caused this.
As a result, the wealth gap between old and young American households has quadrupled in the past 25 years. In 1984, households age 65 and up were 10 times wealthier than their younger counterparts. Now, they are 47 times wealthier.
Do you deny this? If you deny it then there is no bother to continue the debate.
Making the best of a bad situation is great and all but the political economic system that was put into place has screwed the young because they don't have assets. Monetary policy does not just cause inflation. It causes asset inflation.
Why continue to deny these facts with a perspective? I don't think it was intentional. Its just that few people have the insight needed to see it. They should however see the result.
That's the problem. You are explaining a perspective. They are trying to relay an objective reality. You act as if its some debate. The financial result is in. The only debate is on what mechanism has caused this.
As a result, the wealth gap between old and young American households has quadrupled in the past 25 years. In 1984, households age 65 and up were 10 times wealthier than their younger counterparts. Now, they are 47 times wealthier.
Do you deny this? If you deny it then there is no bother to continue the debate.
Making the best of a bad situation is great and all but the political economic system that was put into place has screwed the young because they don't have assets. Monetary policy does not just cause inflation. It causes asset inflation.
Why continue to deny these facts with a perspective? I don't think it was intentional. Its just that few people have the insight needed to see it. They should however see the result.
Yet... some do prosper.
I've posted before about a young early 20's couple, both the first to graduate college in their family, that are doing very well.
She was raised by a single mom after her Dad died shortly after they immigrated from the Philippines... since she was old enough to talk... Mom told her daughter she was going to be a Nurse.
He was also raised by a single parent family... Dad was no where in the picture and he said there was plenty of temptation being a young black man... his mother's voice in the back of his head kept him focused. He is a Police Officer in the SF Bay Area.
These two young married people make over 200k a year and have outstanding Medical and Retirement and neither came from a family of means...
So why not look at all programs and end the corruption and fraud and abuse first ?
Lifeline just uncovered 41% not qualified to have these free phones.
The FCC reformed the program and starting cracking down last year and required proof that you qualify.
That's 41% of $2 billion we've been spending.
i don't know, why not? i've never advocated corruption and fraud.
That's the problem. You are explaining a perspective. They are trying to relay an objective reality. You act as if its some debate. The financial result is in. The only debate is on what mechanism has caused this.
As a result, the wealth gap between old and young American households has quadrupled in the past 25 years. In 1984, households age 65 and up were 10 times wealthier than their younger counterparts. Now, they are 47 times wealthier.
Do you deny this? If you deny it then there is no bother to continue the debate.
Making the best of a bad situation is great and all but the political economic system that was put into place has screwed the young because they don't have assets. Monetary policy does not just cause inflation. It causes asset inflation.
Why continue to deny these facts with a perspective? I don't think it was intentional. Its just that few people have the insight needed to see it. They should however see the result.
Wealth inequality between young and old. Really? And your problem is?
I've posted before about a young early 20's couple, both the first to graduate college in their family, that are doing very well.
She was raised by a single mom after her Dad died shortly after they immigrated from the Philippines... since she was old enough to talk... Mom told her daughter she was going to be a Nurse.
He was also raised by a single parent family... Dad was no where in the picture and he said there was plenty of temptation being a young black man... his mother's voice in the back of his head kept him focused. He is a Police Officer in the SF Bay Area.
These two young married people make over 200k a year and have outstanding Medical and Retirement and neither came from a family of means...
I just went through the trouble of isolating a macro economy , and then you adulterate it again. Some people prosper in North Korea. Some people survive plane crashes. Some bacteria survive antibiotics because of natural selection. Is that to say that antibiotics have no clinical results?
The whole idea behind research and statistical methods is to avoid anecdotal evidence.
Let me put is this way. Other than the basic ability to communicate in a language , such arguments fail in the most primitive way. Before even getting to a belief , do try and remove logically fallacious arguments. Do try and establish a premise. Do try and find an agreement on an accepted authority, or at least use an established one. This turkey of yours flies nowhere.
Oh and that salary of theirs, 200k for two people is rather lame to be honest. In expensive markets its just two middle income salaries in decline against asset inflation.
Wealth inequality between young and old. Really? And your problem is?
I will be ignoring you. I can only take so much.
03-18-2013, 11:49 AM
i7pXFLbhE3gq
n/a posts
Quote:
Originally Posted by Ultrarunner
Yet... some do prosper.
I've posted before about a young early 20's couple, both the first to graduate college in their family, that are doing very well.
She was raised by a single mom after her Dad died shortly after they immigrated from the Philippines... since she was old enough to talk... Mom told her daughter she was going to be a Nurse.
He was also raised by a single parent family... Dad was no where in the picture and he said there was plenty of temptation being a young black man... his mother's voice in the back of his head kept him focused. He is a Police Officer in the SF Bay Area.
These two young married people make over 200k a year and have outstanding Medical and Retirement and neither came from a family of means...
Anecdotes do not trump overall economic trends and facts
Quote:
Wealth inequality between young and old. Really? And your problem is?
The problem is that it has grown so much. Yes, older people should have more money, but young people should (as a group, so leave the anecdotes out) be able to work hard and build up a good savings, buy a house at a price that isn't grossly inflated, etc.
People should have at least the same level of opportunity today that they had 20, 30, 40 years ago. That is not the case, and you guys take this "so what" attitude and accuse everyone of being a bunch of lazy entitled whiners.
The denial of objective reality is really pathetic. I understand why you guys do it, though. If you looked at what has actually happened to this country and how we've gotten where we are, you'd have to feel at least a little guilty about just how badly you mucked things up and how much suffering your recklessness and selfishness and complete lack of foresight has caused those who came after you.
Last edited by i7pXFLbhE3gq; 03-18-2013 at 11:57 AM..
The contingent of Americans that want to create inequities in the Medicare / Social Security / FICA system between people born in (for example) 1935, 1950, and 1980.
They typically do this under the guise of "Saving Medicare for future generations by cutting future benefits."
As a young person I don't mind paying for your generous Medicare benefits as long as I'm not getting sold down the river in the process.
Quote:
And HELLO.... I've paid into the system... they've moved the age limit up on me already... my benefit has been cut....
Your benefits have been cut? I take it you're not taking Medicare into your accounting of benefits.
Everyone has paid into the system. Big deal. The question is how much you'll be getting in benefits relative to what you paid. Looking at the big picture boomers will get far more in Social Security AND Medicare benefits than they paid in lifetime FICA taxes. The greatest generation screwed the boomers with social security, and the boomers are trying to screw generation y with medicare.
Quote:
Now I know your too young to know this, but when you go file for SS you will not get the amount your statement will tell you. The formula for benefits is so screwed up no one does, Not even the employees themselves. My neighbor called was told one amount, but upon actually signing up is receiving a third less. No I'm not asking you to compromise so I don't have to... We have been compromising already. We'll compromise again.... Will you?
How is that a compromise?
Social Security pays out benefits on a curve , depending on how much you made, how long they expect to live, and other factors. People who make closest to the $110k cap get screwed the worst, and the further you get away from that cap (higher or lower) the better off you are with the program. That is not an inter-generational issue, it affects all ages equally.
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