America's Aging Baby Boomers, Forced To Work Until Death, Blamed For Collapsing US Productivity

zero hedge ^ | 31 July 2016 | Tyler Durden

[Iron Munro]

The government extorts money from the people who are the heart and soul of the nation and gives it to themselves, their wealthy pals, the slothful, the moochers and the criminals.

[Vesparado]

I have the answer! Whips! That’ll put some spring in those old farts’ steps! You won’t just get greeted at Walmart, you’ll get a hug!

[A_perfect_lady]

Gee, guess it’s time to execute everyone over 50, Logan’s Run style. Bring on the death panels.

[angry elephant]

I’m 61, and I figure I’ll work until I die, or get too sick to work. Started in the berry fields at 7.

---

I’m 66 and will likely work another ten years. Self-employed, though, so don’t have to do 8 to 5 every day. People I know in my age group are mostly working part time.

Started in the berry fields at age 11.

[lulu16]

Here is where we found an alternative:

What’sthe cost of living in Ajijic, Mexico...

https://bestplacesintheworldtoretire.com/questions-and-answers/3257-what-s-the-cost-of-living-in-chapala-amp-ajijic-mexico

I wish you the best.

[Feckless]

I worked 6 days a week 12 hour days the summer I was 12. Asked my old man about pay, he said "I saw you eat breakfast and there's a good chance you'll get supper."

Joined the Army @ 17, retired an E8 @ 37 (lordy, it's been 24 years this month). Retired from TxDOT @ 60, got outsourced to a Jap Tech Co. Quit @ 61 1/2.

Worked harder since than past 20 years, loving every minute of it, best job I never had. Some Mondays are just a 3 mile walk, a pitcher of Bloody Marys, and the hot tub.

[The people have spoken]

I was thinking of retiring this year (age 68). When they offered 9 months salary as an incentive, that sealed the deal.

[stylin19a]

The productivity slump isn't reserved to older workers: it takes place across age groups, the researchers find.

kinda whacks the headline....

[Cedar]

Interesting reading found by googling “over 50” job forums. Vast numbers are still out of work after several years of sending out resumes. Age discrimination is alive and well (excluding Walmart!).

The job forums is where you can find the truth of it all.

[kearnyirish2]

Didn’t we hear a few months ago that all job creation in the “recovery” had gone to immigrants? Now it turns out it was older people? Did they go to immigrants 55 and older?

The simple truth is that someone over 50 is much more likely to be tied to a mortgage and raising children, so they are a lot more motivated than younger people with neither (and who apparently don’t intend to have them going forward).

[FreedomNotSafety]

This is two different topics which are not necessarily correlated.

Productivity is not generated by hard work. Contrary to everything your here productivity gains do not come from say one worker producing 1.1 widgets more than he produced last year. Manual piece work is rare in the US.

Productivity is driven by investment in capital equipment, technology, and knowledge. If a robot replaces one widget worker it of two then prodictivity has increased.

Now why would anyone want to invest in one of the highest taxed and regulated and lawsuit happy countries in the world? Answer = fewer amd fewer. Thus declining prodictivity. Nothing at all to domwith age.

Topic two. Older workers know how to show up, are generally better educated, and less entittled.

[NorthstarMom]

That is wonderful. My husband is self employed after 24 years working for others. He came home today with a smile on his face after a 15 hour day of physical labor. He is very good at what he does and finds it quite fulfilling.

[Ciexyz]

Older workers are staying in the workforce to pay odd the kids’ student loans.

[kearnyirish2]

Here in NJ older people can’t retire and keep their homes (the property taxes are too high); those same taxes make the homes difficult to sell, so the older people have to keep working...

It is no accident that young people refuse to buy homes in NJ; they don’t want to cough up $500 per month just for public school teachers alone - especially when they have no children anyway.

[Flick Lives]

Because with over $10 trillion in savings generating no income, and thus crushing the velocity of money...

The "velocity" of all my savings is zero. Maybe 0.00015% on a large money market account I have. One of the reasons I keep working. I have to.

[central_va]

Anyplace above the Mason-Dixon is unacceptable. The North is a dreary dead place.

[kearnyirish2]

The northeast is dreary and dead (though Atlantic City and the bottom of NJ is south of the Mason-Dixon line), but the South is just too hot for Celtic people. I don’t know where a happy medium exists; maybe Idaho?

[central_va]

Its called Air Conditioning.

[wastoute]

Everyone who could went Galt years ago. It had an effect.

[vortec94]

They made me a deal I couldn’t refuse in 1990 at 49yo. Went to work for another telco in 1991 and they made me a deal I couldn’t refuse in 2008. The second time I got the message. So this time I’m done.