I am glad I was the last generation to get on the bus to wealth before it left the station. Looks like the folks left behind are screwed. With 100K college debts which are non dischargable and penalties stacking up compounding to infinite. working minimum job at best. http://www.cbsnews.com/stories/2011/09/22/national/main20110000.shtml In record-setting numbers, young adults struggling to find work are shunning long-distance moves to live with Mom and Dad, delaying marriage and buying fewer homes, often raising kids out of wedlock. They suffer from the highest unemployment since World War II and risk living in poverty more than others â nearly 1 in 5.
There are two types of young people. Those who took on the $100k debts to go to college and those who didn't. The question is, which is better off in the long run?
Thank the Boomers for that. Most of them couldn't give a shit. This "financial crisis" was the result of a confluence of events that festered over the past 30 years. Nobody cared. Some inheritance, eh?
Well when you think about it, this is the generation that was handed the baton to go and run the country into the 21st century. So the whole baby boomer theory sounds correct.
I know that these guys are hiring people out of college: http://www.analyticpartners.com/ Only problem is you need to know some mathematics and statistics. So, yeah, if you borrowed $100k to get a degree in psychology or English literature because math is too difficult, then you will have a hard time finding work. I understand that the poetry of Keats and Shelley feeds your soul, and you really wanted to borrow $100k to read that stuff and have plenty of time to participate in Greek Week on campus, but your English Lit degree does not give you any skills that employers need right now.... or in the future.
Don't get me wrong, a lot of Boomers served and there's some real Patriots out there. AFAICT, the rest are oblivious sheep. A lot of their pensions, bennies and 401k's will get decimated in the coming inflationary tsunami. Most of these douches won't get the medicare and social security they paid into their entire lives. In a way, serves them right. They couldn't give a shit for 40 years and expected a free ride. Poetic justice.
Well I'm happy that I'm not retired and living off a soon to be defunkt Retirement Plan, melted away 401ks and eating dog food. I'm not young, but I'm still younger than most and I'm doing well. As are all my friends. Sure, there are road blocks from time to time. And keep in mind Fool. The youth 18 -23 who are unemployed, who cant find jobs ...will revolt. They will steal, murder and cause Chaos when they wake up to the understanding that the country is doomed. So, I hope your punk ass lives in a State that banns the carry of firearms, Raises taxes and creates a "Locked down" mentality for all it's lovely state Residents. So, while you balk at the Lost Generation, as if you were so smart not to attend university and that you are older than the lost generation....be warned.....you shall be slap'd in the face as well. Only a matter of time before you feel the same pain.
I doubt it. They are living at home with mom and dad watching reality TV shows etc.. As long as shopertainment is open and Kardashians are on TV and NFL football still going on, reality tv popular I see no risk.
Some served. Most got high. Then, they turned into the "Me" generation and brought us leisure suits, latchkey kids, swinging, AIDS, cocaine, Three's Company, 80's excess, power ties, the tech and housing bubbles, and now massive, massive, massive public debt as they are retiring, and they want to ride this gravy train until the wheels fall off. They only have 20 years left on the planet, so they are going to sell subsequent generations into slavery to the Chinese to keep their "lifestyle" high. The Baby Boomers are a generation of no self-restraint... a generation that is about feeling-good-all-the-time... a generation about consuming like locusts.