Posted on 12/26/2012 10:28:10 AM PST by Kartographer
Three and a half years after the worst recession since the Great Depression, the earnings and employment gap between those in the under-35 population and their parents and grandparents threatens to unravel the American dream of each generation doing better than the last. We have noted a number of times that these divides are growing and warned of the social tension this could create and, as Bloomberg notes, it does not appear to be getting any better, Generation Y professionals entering the workforce are finding careers that once were gateways to high pay and upwardly mobile lives turning into detours and dead ends. "This generation will be permanently depressed and will be on a lower path of income for probably all of their life - and at least the next 10 years," as middle-income jobs are disappearing. A 2009 law school graduate sums it up rather succinctly: "I had a lot of faith in the system, the mythology that if you work really hard you can achieve anything, and the stock market always goes up. It was pretty naïve on my part."
(Excerpt) Read more at zerohedge.com ...
PING!
We are copying the economic and social policies of places like France, Spain and Argentina. Youth unemployment of 20%-40% is the norm, and do we really expect things to turn out differently here?
The leftists policies will give us much more unemployment, much more wealth inequality and much more crony-capitalism, which perhaps by design, gives the Left much more to whine about at the same time.
I don’t have much hope that “Generation X, Y, or Z” will do anything to change that.
They gets what they asked for, a declining economy with less and less opportunities for them to achieve self- sufficient, independent, adult “middle class” lives for themselves. So, as is the plan, they will all wind up becoming ever more and more dependent on the regime in power (through the various welfare, dole, and give-away programs).
I am in the under 35 age group. Many of us hate Obama and everything he stands for. When debating the pro-Obama idiots it is really easy to be informed as most are underemployed and you have plenty of time for research.
but it’s all those damn republicans fault, don’tcha see ? Not the fault of our dear leader.
I have explained to younger people who work with me how important getting on the right trajectory is in the first part of your career (which had better be starting out in your early-mid 20’s. If you start low on the trajectory, it will be VERY difficult to make up for this later. Even not getting a raise ONE YEAR can cost you tens of thousands of dollars later.
I feel sorry for these poor bastards who are working at retail with a college degree who think that “when the economy gets better”, they can just waltz into an easy 60K/year job.
generation “why were we so stupid?”
Yes it does because the government always inflates the currency. That inflation must start roaring soon because of all the paper money that The Fed has created.
Yes it does because the government always inflates the currency. That inflation must start roaring soon because of all the paper money that The Fed has created.
Many of whom will soon be joining the ranks of the "29ers" in the Second Era of Baraq.
Gen-WhyMe?
Why?
My first job, after getting out of school (graduate school at that) was as a clerk in a drug store. Then I went into the army.
It was 10 years before I got a job ‘in my field’, i.e. in the professional field for which I trained.
I was brought up to believe that getting a job, any job, and establishing a good work record was the responsible thing to do, rather than hanging around complaining that there were ‘no jobs’ worthy of my education and talents. I’ve done a lot of things in my time, including yard work and log splitting, to stay off unemployment.
Yeah the world has changed from when we were kids. I troll undercover on forums where some of them hang out. Two generations of “liberal” education has done immense harm.
They expect the govt to fix all their problems AND they fail to understand that the govt IS the problem.
Ah, youth!
Don’t lump us Gen xers with them please... we went marginally for Romney.
To be honest, it was boomers who screwed things up in the first place. X-geners are their offsprings who can’t fall far away from their tree but there are decent people in both pools. As or Y-ers they seems to be useless and it is a worldwide trend. Problem solving skills aren’t present most of the time.
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