I have nothing against old people. I adored my grandparents and I’ll be old some day and I may well be in the same position, but given the demographic shift America is facing and the economic realities we’re now dealing with, the elderly population in America is set to screw you three ways to Tuesday. Here’s how:
They Take Your Jobs – Americans who are approaching what used to be the “normal retirement age” aren’t retiring. They’ve lost all the equity in their homes, their 401(k)s have taken a haircut and they can no longer keep doing cash out refinancings on their homes like an ATM to support their lifestyle …
…Continue Reading 3 Ways Older Americans Are Going to Wreck Your Life
I have spotted an inconsistency. If “75% of Boomers have saved less than $25,000 for their retirement,” then they won’t be selling off massive amounts of stocks, because they don’t have any.
Pirate Jo
Not quite. There are 76 million Boomers. That means those 75% would have $1.425 TRILLION. And if you haven’t been paying attention to my articles over the last few years, shame on you. The top 10% wealthiest own 90% of the wealth in this country. The 25% other Boomers have two to three times the $1.4 trillion.
Smokey – I can’t even tell, did you leave some more nasty comments about me on some thread that everyone else had long since abandoned? You keep posting about how I’m trying to get back at you for something, and I keep being surprised to hear that you had (apparently) been trying to insult me in a dead thread.
Sorry, I don’t cruise necro-threads to see if I’ve been insulted. But, then, you seem to know a lot about cruising based on your other line of attack.
The “what’s a bm” site is such a POS work of marketing tripe by some 2.01-GPA marketing major I could care less what it claims about timelines. In fact I could care less about the whole generational debate because all the cutoffs are arbitrary. But it’s fun tossing some napalm your way.
I’m in the SSS camp on this one. And as Smokey’s hero once said, BIG TIME!
The rest of you sound like the FSA. Quit whining.
My wife and I worked forever and still do. House paid for. Never had new cars. Sent three kids to private schools and paid their tuition. They were on their own for advanced degrees. One in the basement and a small family in the spare bedrooms until they close on a house with a little help from us on the down payment. We saved, put money in 401s, stocked food and ammo, and are still working because I fully expect the the STHTF. We pay way too much in taxes, bailed out the TBTF banks, and feed the FSA and haven’t dipped into SS.. And you want me to do WHAT? Forgo SS? Allow the Feds to nationalize my 401 and savings? Turn over everything to the grasshoppers out there? (think ant).
Anecdotal? Perhaps, but there are far more of us out there than you think.
Fuck the grasshoppers and fuck the FSA army out there.
Yeah, we fucked it up for your generation(s). Quit whining
Administrator,
I don’t care for Fox News. I simply don’t watch it. Haven’t watched it a single time in over three years. Got turned off by the bias.
But I’m here to tell you, for someone who endlessly motherfucks that network, you seem to know an ENORMOUS amount about their editorial content.
You refer to them on damn near a daily basis—-as in “the neocons at Fox News have been calling for a 9/11 hit.”
“Fox News said this….”, “Faux News said that….”
Is their any network on television that you watch BESIDES Fox News?
I mean, fuck, if you left them their ratings would probably fall off a cliff and they would fold.
Smokey
I think I just heard an airliner coming in low. Duck!!!!!!!
Admin denies he’s a Boomer. According to his 4th Turnip Chart he’s a Nomad. OK, fine, so-be-it. But it seems to be a strange choice.
NOMADS can’t find their dick with two hands.
[/img]
[img
.
[/img]
PROPHETS kick ass. We eat Nomads for lunch. Nomads Eat Shit.
[img
Okay, but those 10% aren’t all going to sell all their stock at once, right? I mean, they don’t need it for retirement because they already don’t have to work.
Pirate Jo
Most of these people worked. In retirement they won’t be working. They have much higher living standards, so they will be spending down their investments. With 76 million people selling and only 30 million buying, at most, one thing has to give – price.
SSS has tried numerous times to desert his cohort with the “Tweener” theory, but has failed by virtue of the S&H Rule.
Pirate Jo, like so many Xers, has decided to be a Boomer “mini-me”. Of course they’ll cash out at the same time, kinda like September 1970.
Smokey, having been disturbed while he was humming “la la lalalala live for today” while dreaming of joining hands with the Chinese and marching under Chairman Mao, is pissed.
Stuchenstein has jumped right out of his birkenstocks to post an absolute fantasy about the Nomads.
Darwin, not expecting anything like this, has hidden under his desk.
BBES… you boomers who did it right know it. Look at your friends and siblings… look in your vinyl collection for that “Saturday Night Fever” (don’t lie, it’s between your Neil Diamond and the Beatles) and tell me your generation isn’t the most selfish, unrealistic mass of shitbags…
Colma — isn’t there a Generation Dipshit meeting you need to attend?
As for fwiw: Thanks for the sentiment in your last line. John Maynard Keynes would be proud. Well give it 20 years and we’ll see.
Pirate Jo, like so many Xers, has decided to be a Boomer “mini-me”.
How so? I don’t get it.
Colma, is reading comprehension a skill lost on your generation?
What I posted, the anecdotal bull shit, is the opposite of Keynesian economics.
And obtw, we are still the employers of your generation. And every day I come to work and look at my employees, I wonder “why? Why am I doing this?”. Your biggest fear should be when people like me say “It’s not worth it anymore”.
Think about that, grasshopper.
Stuch: I don’t go to AARP meets…
Pirate Jo: You say wait until our generation is bled dry. I say fuck that, why wait? PULL THE PLUG!
Fwiw: Yeah I noticed the same. Please, retire… quit. As your generation’s acid-infused false prophet Jimi Hendrix said, “Move over, Rover, let Jimi take over”. Coming back from a cruise and looking at your employees with disdain. Hell, they should go Galt.
Anyway, if you read TBP, you probably aren’t the quintessential boomstainer, but you must make a choice…
Are you with the Heroes or against them?
I have a Hero in the basement, I guess this Prophet is for them and desperately hoping for the best.
What’s a Cruise? Is that Tom’s latest bed partner? If so, I like to come back from that.
Colma, I’m a dyed in the wool libertarian who doesn’t think we should ever have had the Social Security program in the first place, because I expect people to take care of themselves and their own families. I’m not the right person to ask about how to save Social Security, because I don’t want to save it. I’d rather destroy it completely let everybody keep their own money and invest it however they want. If people want some kind of welfare for old people who never saved anything during their lifetimes and are now too old to work, let the state and local governments or private charities work it out. The federal government has no reason to be involved in something like that.
That said, it’s not up to me.
Then again, I am so old-fashioned, I think unemployment insurance should not be a government program, it should be what it always used to be – something called a “savings account.”
Damn I was almost a millenial. Glad I didn’t miss out on all this angst.
Damn, this is entertaining. I’ll bet Darwin can’t believe this thread. Actual photo of Darwin reading the comments.
[img]http://t0.gstatic.com/images?q=tbn:ANd9GcTV-obobN0cszBusUyYMDoSSUKUYH5EC_AQwAxWd1ftlcgZmeMTww[/img]
Admin
It’s not “Foiled again.” It’s “Curses. Foiled again.” One more fuckup like that, and you’ll lose your Boomerhood. Actual portrait of Admin.
[img]http://t1.gstatic.com/images?q=tbn:ANd9GcRIV5f_rTKXJKesIb5TSeG9o41M-0oOOeJ9uX76KcHnSLrlx36k[/img]
While all you numb-nuts are fighting over this I think I’ll take in a movie with money from my SS check. Actually, although I’m 70, I don’t collect or qualify to collect SS. But that shouldn’t stop me from sniping anyway.
Jesus Fucking Christ – I do not know who’s ass to kick first – choices choices.
Darwin – you ignorant slut (respectfully – as this is the first time I have had occassion to go for you jugular and you generally seem to be a reasonable sort) – you are full of shit re Boomers taking anyones job. Job loss is a group clusterfuck. It can be laid at the feet of most everyone. Boomers get some credit for helping to lose jobs, but not for taking them. Job losses have resulted from the ignorant dipshits that have not skilled up and thus have dragged the nation backwards. Job losses have resulted from poor management over a lot of years. Job losses have resulted from unions, both public and private, that have squeezed unsustainable wages and benefits from their employers. Job losses have resulted fom parents coddling their kids and supporting them as they go out and get their highly valuable Art History degrees. Job losses have resulted frrom carrying the ever growing free shit army. Laying the fact that the young are having difficulty finding jobs at the feet of the Boomers/aged is total bullshit. It takes a community to raise a child – and out community has fucked up in so many ways that it is almost impossible to see our way clear. That the young have an overwhelming sense of entitlement is perhaps the single biggest issue causing them problems. They are too good to do an honest day’s work – and even if you find one that is willing, he/she expects to be named CEO the next day. Fucking bullshit. I am an employer – and I would rather have a boomer any fucking day than take a chance on some dickhead young person (unless they are TBP members, of course.) Get a fucking clue before you start spouting shit from all of your orrifices, will you?
Admin – now your turn (along with a swift kick at Darwin, too) – Re the drag on the share price – the share market is worth some $50 trillion. Using Admin’s numbers, then the bottom 75% own about 2 percent of the share market. If they sell it all at once it would have some effect. The 25% that own about $5 trillion are unlikely to sel shit. Or at least not all at once. They love dividends. Love them. And besides, there is a natural replacement market for what they sell – generally in the form of 401k plans and their ilk. Do you really think that the aged are selling off faster than the natural demand generated by 401ks? Really? For fuck sake, use your noodle for other than a hat rack, guys. Don’t make me get ugly.
I don’t know about old people wrecking my life, I am worried about them wrecking my car however. I try to be patient in the stores but they need to get the fuck outa my way. And the gym, WTF? Stay at home and do three reps with the butter dish instead of clogging up the machines.
Matt – some of the old guys can be tough:
[img
[/img]
Nice picture Lipoh. I hope it’s not you.
Especially like the pacemaker; upper left chest.
Old guy has blue balls in a bad way, fire him some Viagra….
Matt:
If they’re on a treadmill…
PULL THE PLUG
I notice that Admin/Darwin are hiding like curs since I entered the fray. Moaning like sick old women and hiding under the bed from the onslaught, no doubt.
colma,
they wouldn’t even notice if the fuckin’ thing was unplugged while they are doing the turtle two-step. And another peeve, it’s the granpas that are always trying to dry their peanut sacks under the hand-dryers. Get a fuckin towel old man, no-one wants to see your beat-up old chicken!
Colma and matt,
Maybe you adolescent whippersnappers should get a room.
Au contraire, Matt!
[img
[/img]
You guys are a blast; I’m lovin’ the insults, but I’m especially offended by one.
“you should be a politician”.
#vomitinmymouth
Hey listen, I’m not hatin’ on all you old farts, and you gotta look out for yourselves. But I don’t think the current generation of 20 and 30-somethings realize what’s comin’ their way. This (bullshit contrived under-reported) 9.1% unemployment rate is just the tip of the iceberg. The fight for resources and jobs IS GAME ON. And the geezers are gonna be a force to contend with!
Darwin: It’s game over, the youngsters have lost.
U.S. Jobs Crisis Is Depression-Style Calamity for Young Americans: Demos’ Draut
The Great Recession is technically over but with more than 22 million Americans un- and underemployed, six million who have been out of work for more than six months, the situation is still dire.
It’s especially bad for America’s young workers, who are facing a “depression-era crisis,” according to Tamara Draut, vice president of policy and program for Demos and author of Strapped: Why America’s 20- and 30-Somethings Can’t Get Ahead.
“It’s become harder for anyone of this generation to either work or educate their way into the middle class,” Draut tells The Daily Ticker’s Aaron Task in the accompanying clip.
The result has been higher than average unemployment in this group. In 2010, the unemployment rate among 17-24 year olds was 17.3%. The reality is even worse for minorities. Latinos of that age suffered 20.1% jobless rate; for African-Americans it was 28.8%.
Draut says the country’s declining manufacturing base is to blame for the plight of young Americans. “We’ve lost the ability to have a blue collar middle class,” Draut says. Without a college diploma it’s nearly impossible to find work that affords a middle class life. “Today, young men with only a high school degree are earning 25% less than their parents.” In 1980, a man without only a high school degree earned about $39,000 per year. In 2010, the average salary had fallen to $30,000.
AWD – That is exactly so. all the fuckwits that thought they could live well despite no skills and education were deluded shit-for-brains. No skills no education = poverty. Too fucking bad.
Well, at least all the young trollops can get a geezer with cash…beats working…
Darwin – you are right about one thing – the youngsters largely have no idea about the shit pie that is about to hit them in the face. The have been suckled for so long they have come to expect someone, somewhere will yank out a tit for them whenever they feel like a quick suck. Well, the old geezer’s tits long ago dried up – and the youngsters are gonna find the milk has stopped flowing. Maybe if they had learned what a shovel and pick were for instead of being coddled all their lives they would be more ready for what is coming. All those hours yanking on a game controller and perched in front of a playstation are going to be worth bupkiss. Fat typing on a mobile phone won’t be of value either. Cry me a river.
Darwin – don’t make posting this shit a habit, ok? You do not get too many fuck ups before we go feral. We geezers fight dirty. Don’t forget it.
At least you see kids in fast food and kitchen positions a little more these days. I was getting concerned.
The principle of no work=no eat was an eye-opener for me long ago… I think it was a principle lost for a few years there.
Now if only morons would quit buying on credit…
no work=no eat?
You never heard of SNAP dude?
Most of the time when I’m at the store, I’m the only one paying cash.
They call it “link” here, accepted everywhere. Usually for pork rinds, doritos and coke (to feed the flab)
Old people keep the country going as they work hard compared to the young people who sit home being lazy, collecting SSi, and doing drugs!! What a waste of young talent!
submitted
Sexy olefart
Pirate Jo
What you said. Yeah, time for the SS lie to die.
If there were a referendum, I would vote to drown SS in the bathtub. Nestor v. Flemming makes it do-able but … it’d be a damned tragedy for the govt. to say whoopie, we’re off the hook. Especially for younger folk who’ve paid in and received nothing.
Admin:
so you are saying if you are born on 12/31/60 your an asshole and if you are born one day later your a saint….and just by serendipity you happen to fall into the later..good for you.
Last time I checked people in their 40’s to early 50’s are kind of running things now, so I guess by your logic all I have to do is sit back and everything goin to marvelous (not).
This is a question of personal reponsiblity not generational responsibility, your birthdate has no bearing on your character or lack thereof. Personally I would of rather been born in 1923.
Aside from paying taxes, working a job, raising a family, doing acts of charity, and voting what exactly have you done personally that would make you apart from the “boomers”?
tbone
Yeah. You got it right. Anyone born on 12/31/60 is an asshole. You Boomers aren’t the brightest bulbs in the lot or the sharpest tools in the shed. But, everyone knows that.
The thing that sets me apart from you Boomers is my use of my brain and lack of delusionary tendencies.
Have I answered to your satisfaction?
Wow, I hit a nerve last night. My reference to old folks was not aimed at anyone on this site, unless you are 80 something with a walker trying to maneuver your Lincoln through Trader Joes parking lot causing a traffic jam. I am not ragging on the oldsters, and at 48 I am no young whippersnapper either. I am well aware that my SS is keeping the ponzi scheme alive and I doubt I will ever see a nickel when it’s my time. The very least I expect is for the blue-hairs to appreciate my time as well while I try and show patience.
matt
Don’t apologize. That is a sign of weakness. The old farts will surround you and start hitting you with their walking sticks.
Just curious, was it a boomer who fired you from IKEA?
Just curious. Do you torture kittens for fun?
Admin,
Hopefully I will only get hit by the end with the tennis ball on it.
Admin:
Yeah. You got it right. Anyone born on 12/31/60 is an asshole. You Boomers aren’t the brightest bulbs in the lot or the sharpest tools in the shed. But, everyone knows that.
The thing that sets me apart from you Boomers is my use of my brain and lack of delusionary tendencies.
Have I answered to your satisfaction?
dude don’t get hostile
1) do you mean before 12/31/60?….maybe I am not a boomer, maybe I’m am ….why would you assume that?
2) please use your superior brain and lack of delusionary tendencies to answer the question please.
3) no please see 2 and re-submit at our earliest convienance.
tbone
I’ve written at least twenty articles about generations. Read them if you want my views. I don’t care if you are a Boomer. I don’t really care how you live your life. I don’t have time to worry about the feelings of every whiny Boomer on this site. Live your life any way you choose. If you want to ignore the facts, that is your choice.
admin
let’s move on
Fwiw, Tbone, and all Boomers:
You guys are no fun. C’mon… don’t. Take it personal! Unless you’re a draft-dodging/ placard-toting/ dope-smoking/ America-hating/ yuppie/ grifter/ overall criminal/ self-centered douschebag, you aren’t the Boomers these droids are looking for.
Not personal for me Colma, just a fun opportunity to release the pressure so I don’t have to torture kittens.
But since Krugman loves cats, that might not be a bad thing to do.
The thing that hasn’t been brought up (that I’ve seen) is the whole modern concept of ‘retirement’ anyway. Only in a modern, Keynesian bubble induced world can ‘retirees’ complain about their benefits… The elderly would still have been working all along had it not been for (among other things) significant unreal US economic expansion. Now the expansion bubble has popped and the natural laws of supply/demand are playing out globally, placing downward pressure on US living standards. And the entitlement systems don’t help when they have been/are viewed as complete support systems as opposed to ‘keeping death and starvation off the door step.’ It is now viewed as (at least has been viewed as) the ‘third leg’ of a retirement plan. And it fosters an expanded pool of retirees.
So I disagree with the premise that the elderly are taking jobs from younger workers. The bubble of retirees is just popping…
Delusional boomer at the beach…
[img
[/img]
How old is Ron Paul. Kinda old huh. It is ok cuse he is npt a boomer. My Da and Mom worked until they died and so will i. Yet you hate for my birthday. What does that say about you. Content of character? I do wonder about someof you. Come to the house to clense me. I will take a few with me, liberty, leave me alone. I will leave you alone. The goverment runs it all anyway. To think they don’t is delusion. Buy your land with cash saved and dont pay taxes. See who is the real landlord. You still rent from the goverment.