Posted on 06/21/2016 4:48:13 PM PDT by blam
Jun 21, 2016
Harry_Dent
We all know the situation in the markets is dire. Like, really, everyone knows. There’s an old phrase from Margaret Thatcher’s day (and mine, I suppose) that has recently come back into use: There is no alternative. There’s even an acronym: TINA.
There is no alternative example of a campaign advertising material of the CDU for the 1994 election for the Landtag of Thuringia.
That’s quaint, and all, but this meatily numbered piece shows the heart of what that phrase means.
There is no alternative, the markets will correct. They have to, regardless of how hard the Fed fights.
We’re long overdue, and the heart of this piece is the fact that we haven’t been here, in this way, since a year or so, after the Great Depression.
More 18- to 34-year-olds are now living with their parents than at any time since 1960, when the number hit an all-time low of 20%.
It’s now jumped up to 32.1%, and is as high as 36% for those with a high school education or less. The number jumped to 28% in 2007, with the Great Recession catapulting it to 32% in just seven years.
For the first time in history, living with parents has surpassed living with a spouse or partner, with over 30% of children now living with parents, as the chart below from Pew Research shows. Fourteen percent live alone or as a single parent, with more women at 16% than men at 13%.
(snip)
(Excerpt) Read more at marketoracle.co.uk ...
My kids are why I moved...and left no forwarding address!
I’ve been blessed. My boys are doing just fine. None ever moved home...though there was a time there when they showed up around supper time on a regular basis. ;)
Roots and Wings, Baby.
The company I worked for transferred me to Louisiana for a couple of years. Culture took some getting used to. One of the local customs all the guys I supervised repeated. “We live at home until we get out of high school and get a job. Then we get married and move into the house next door.” Even though the streets had their own official names, a local would describe a certain street as “you know the one where all the Thibeaux’s live or the one where all the LeJeune’s live”.
My son and I live in the same small town and not that far from one another but because of traffic and road configuration it’s way too far to walk. Close enough to help out when needed but far enough away to not be intrusive. Good balance for both.
Interesting.
That is the big difference now. I lived with my parents from age 21 until age 25 but the reason was that I returned from active duty in the Navy when I turned 21 and went to work and helped pay the bills because my father had become disabled. My mother went to nursing school at age 48 and shortly after my 25th birthday I took a job in the Charlotte, NC area and moved into a place of my own. It used to be fairly common for young people to work and pay room and board to their parents for a couple of years before moving out but now they expect their parents to support them until they are old enough to draw social security.
Mine is home, 22, graduated a month ago.
We are giving him one year to get his feet under him.
He has a great job, did well in B school and he needs to get his ass outta here by June 17 cause we are gone.
We are all good wit that.
That is 2017, and with...sorry.
“It’s because some millennials are majoring in gender/LGBTQ studies. Where can you get a job with that major? Tell me, because I don’t know.”
At a University or College, creating more of the same.
They are in turn funded by taxes; and a lot of those “departments” were created during the 60’s as part of the extortion by leftist riots.
Now dats what I call some “fundamental transformation!” Way to go Obonzo!
Of our five....Oldest three all college grads; all gainfully employed; two are married (both couples have mortgages); daughter and her (employed) husband have two little girls.
Our 22 year old just graduated with a degree in Petroleum Natural Gas Engineering. Five years ago (back in HS) this was a growth field—sky the limit type of degree. A lot of sweat equity in his degree and certifications (and loans—he went to one of the best programs in the country). Right now he’s sent his resume EVERY WHERE in lower 48. He’s competing w/PNG Engs who have years of experience as the POLITICS of “kill the Keystone XL” “fracking causes earthquakes” etc. and his industry is lethargic. Here in PA Dem Gov Tom Wolf is trying to be Cuomos “mini me” against the Marcellus Shale.
He’s given himself til August (3 months) before he applies for his younger brother’s open spot unloading tractor trailers at our WalMart (over night shift—for “some” money) keep days open for interviews and job searches. The youngest will be a college (he commutes) sophomore majoring in Software Engineering this fall.
This isn’t just energy field related. A good friend of his also just graduated, an Accounting major, can’t find a (commute) local job.
VERY RARE IS THE COMPANY THAT IS HIRING!
Trump2016
Thibidieux. These are the people who will survive when the government finally achieves its end state of total incompetence. Guns will be gone. Manufacture your own crossbows to deal with the familyless.
The one Asian family on our block has been the temporary home of parts of several families for several years now, generally a young couple with a pregnant female. They stay awhile and then they are gone. Few weeks later another couple shows up. They, themselves, only have a three bedroom house with three children so not sure where they put everyone. Great neighbors though. Kids respectful and quiet but they do not come to any of our monthly neighborhood pot lucks. Also have never ever seen their kids playing outside with the huge bunch of other kids on our block.
Interesting to see how other cultures prefer to live in small town USA.
I don’t think that 18-22 year olds should be combined with people over 25. In general, the results are bad with 32% of all people living with parents. But for college educated, I don’t think the results are that bad. It says, “For the college-educated, people who were married or living together peaked in 1960 at 79% and has declined to only 46%, with 19% living with parents.” Almost 50% of people with college degrees are married or are living together aged 18-34.
My son lives in LA and I live in Alabama. We get along just fine.
I retired at 52 and am very jealous that my youngest son retired at 45. I worked my ass off for 30 years, he inherited a million $ from his mother’s sister.
The examples you use in your second example are actually part of the problem; the costs for so many government employees are crippling the employers, who leave to avoid that overhead/built-in cost. They are not the private-sector jobs that let young people leave the nest; in fact, the private-sector workers are taxed heavily to pay them. Many state troopers here in NJ pull in 6 figures, and employers (and often their employees) are voting with their feet not to pay them anymore. Young people actually looking to leave their nests see no point in setting up their own here in NJ for the same reason; they’d basically be paying property taxes that are almost the equivalent of rent payments on top of their mortgages.
My 2 Adult male sons don’t live at home, they chose to downgrade their living spaces. Instead of a fancy apartment and high $ entertainment, they now live in trailers and forego going to bars. 1 hopefully will get a district manager’s promotion soon with a car and a raise. Now to convince the youngest to go to Tech school for welding so he has a certificate that will allow for higher employment prospects, is the next goal. He is not the business type, hands on. Eldest 44 lost his 15 year job due to Obama Depression, starting over, 34 year old has always hated school. Tell him how or show him, and he can do it. He does all manufacture jobs at the steel cabinet manufacturer he works for. Lazy blacks just sit and watch, smoke and play on phones. Works all the OT he can get.
My adult grandson and his wife live with me. Both work ... she’s a police dispatcher and he’s in retail sales and they pay me rent. I have a large home and I appreciate the extra hands with chores around the property. I hope they never leave.
I retired (Texas Instruments) at 51 at the end of 1994. My son is 47 (PhD physics) and threatening to retire soon.
Life is good.
Your story is far too common, Gail. So many young people think that if they don’t have a college degree, they can’t get ahead. I know so many guys working in C&C shops, tool and die makers, welders, even carpenters who are so happy and have nothing more than a high school education.
Our society has placed too much value on a worthless degree. Hard work still pays.
My daughter works for a private company. Their contract is up every year.
Her soon to be Husband works for the state,but the recent addition of 157 troopers was about 1/5th the expected vacancies by the end of the year. I agree with the “detail” money—I used to work constructing utilities and having to pay for a cop to stand around @ $100 an hour was crazy.
And, he would leave the Army, but they just extended him again so they could deploy him next year.
But, becoming a trooper was pretty tough. He had been through basic, O-School, and jump school. He said the trooper six month training was worse than any of them.
So, in terms of being different than the average Millenial, I stand proudly by their example.
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