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You should think about the reverse. Who is going to buy their goods and services so Gen X and Y can make a living? If you want to get nasty, the boomers can buy their goods and services from Asia, bypassing Gen X & Y.
That won't matter, boomers (or Americans in general) can only purchase foreign goods if people in the respective country want US dollars. The majority of those dollars will come right back to the US to produce US based goods and services. Furthermore, the majority of the services consumed by the boomers are not the sort that can be purchased from foreign countries.
The boomers have no power here, their retirement is in the hands of the generations below them. It does not even matter how much money they have saved (which is little by the way), how big their portfolio is, etc. Boomer entitlements are just claims on future production, if future production is lacking so will their entitlements. I guess they should have thought a bit more about glutting the nation and burdening future generations with massive government debt. But as the saying goes...what goes around comes around.
That won't matter, boomers (or Americans in general) can only purchase foreign goods if people in the respective country want US dollars. The majority of those dollars will come right back to the US to produce US based goods and services. Furthermore, the majority of the services consumed by the boomers are not the sort that can be purchased from foreign countries.
The boomers have no power here, their retirement is in the hands of the generations below them. It does not even matter how much money they have saved (which is little by the way), how big their portfolio is, etc. Boomer entitlements are just claims on future production, if future production is lacking so will their entitlements. I guess they should have thought a bit more about glutting the nation and burdening future generations with massive government debt. But as the saying goes...what goes around comes around.
So I guess that is why the younger generations are so lazy...they are attempting to 'punish' their parents/grandparents?
LOL
By the time you are old enough to wield any real 'power' we will be out of your hair. Who ya gonna blame then? Your own children?
The boomers have no power here, their retirement is in the hands of the generations below them. It does not even matter how much money they have saved (which is little by the way), how big their portfolio is, etc. Boomer entitlements are just claims on future production, if future production is lacking so will their entitlements. I guess they should have thought a bit more about glutting the nation and burdening future generations with massive government debt. But as the saying goes...what goes around comes around.
And what a lousy job some of us did by raising selfish little me..me..me.. whiners like yourself. Our savings is plentify, btw, as is our portfolio and our entitlements, as only a conservative would call them, are safe. You should hope for the same.
Consider this an "off-topic", thread hijacking that the Mods can punish me
for, but: HAPPY THANKSGIVING HOLIDAY TO EVERYONE (no matter what generation you are!).
Consider this an "off-topic", thread hijacking that the Mods can punish me
for, but: HAPPY THANKSGIVING HOLIDAY TO EVERYONE (no matter what generation you are!).
That won't matter, boomers (or Americans in general) can only purchase foreign goods if people in the respective country want US dollars. The majority of those dollars will come right back to the US to produce US based goods and services. Furthermore, the majority of the services consumed by the boomers are not the sort that can be purchased from foreign countries.
The boomers have no power here, their retirement is in the hands of the generations below them. It does not even matter how much money they have saved (which is little by the way), how big their portfolio is, etc. Boomer entitlements are just claims on future production, if future production is lacking so will their entitlements. I guess they should have thought a bit more about glutting the nation and burdening future generations with massive government debt. But as the saying goes...what goes around comes around.
This is where you don't understand how things work. Those who have the funds are the ones who can control their retirement. Granted, there are boomers who saved little, but there are others who have pensions and savings in addition to SS, that will get them through their retirement. I think we're resilient enough that if we don't have enough for retirement, we'll either work longer and live within or below our means.
If you think boomers are going to have it bad, you'll likely be even worse off. You won't have a job and you'll be crawling back to your boomer parents in order to survive. OTOH, we'll survive just fine.
And what a lousy job some of us did by raising selfish little me..me..me.. whiners like yourself.
This is funny because its such a typical boomer line. I have not been whining about anything, rather stating why the boomers (collectively) are going to have a much worse retirement than they think.
Quote:
Originally Posted by verobeach
Our savings is plentify, btw, as is our portfolio and our entitlements, as only a conservative would call them, are safe. You should hope for the same.
Boomers are not savers, that is just a fact. One just needs to look at the national savings rate over the years to see this:
As the boomers started to control the work force the personal savings rate dropped. Only recently has it started to go up again.
But this ignores the fundamental point. Whether the savings is in stocks, dollars, real estate etc their value depends on the productive capacity of the nation. As boomers retire they will depend more and more on the productive capacity of the generations below them.
This is where you don't understand how things work. Those who have the funds are the ones who can control their retirement. Granted, there are boomers who saved little, but there are others who have pensions and savings in addition to SS, that will get them through their retirement.
Its a legacy of "hard money", but people typically think that money (i.e., those funds) have some sort of intrinsic value. But it does not. The younger generations can act in ways that devalues the funds/assets the boomers think they have. Dollars are just claims on future production, if there is a reduction in future production than the dollars will have less worth.
There are a lot of things Gen X, Y, Z can do that can really hurt the boomers. For example supporting inflationary policies.
Quote:
Originally Posted by akck
If you think boomers are going to have it bad, you'll likely be even worse off. You won't have a job and you'll be crawling back to your boomer parents in order to survive.
Why will I be even worse off? My generations standard of living will be greater if we reduce boomer entitlements.
Some of the more affluent baby boomers helped to bid up the real estate markets so much in places like SF and NYC that living there is virtually impossible for many younger and moderate income people.
Many boomers are hypocrites in that they smoked, drank, did dirugs, engaged in free love, and snubbed their noses at authority but now want anyone doing things like illegally burning their leaves, not wearing their seatbelt, smoking in a non-designated area, littering, letting their dog crap on the grass, or talking on their cell phones when driving sent immediately to jail. These PC-type boomers make me sick.
Many boomers are hypocrites in that they smoked, drank, did dirugs, engaged in free love, and snubbed their noses at authority but now want anyone doing things like illegally burning their leaves, not wearing their seatbelt, smoking in a non-designated area, littering, letting their dog crap on the grass, or talking on their cell phones when driving sent immediately to jail. These PC-type boomers make me sick.
This from a pierce-faced, spike-headed texter! Hating the generation before you is nothing new. We did it and your kids will find a reason to hate you, maybe for being the lazy slackers that 'some' of you (not all) are. What have you done today to make the universe a better place?
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