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Generation Y Wakes Up From The American Dream, Faces An American Nightmare

Tyler Durden's picture


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."


Via Bloomberg:

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. Average incomes for individuals ages 25 to 34 have fallen 8 percent, double the adult population’s total drop, since the recession began in December 2007. Their unemployment rate remains stuck one-half to 1 percentage point above the national figure.


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. The nation’s younger workers have benefited least from an economic recovery that has been the most uneven in recent history.

which is leading to an increasingly disenfranchised generation:

“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,” says Rutgers professor Cliff Zukin, a senior research fellow at the university’s John J. Heldrich Center for Workforce Development. Professionals who start out in jobs other than their first choice tend to stay on the alternative path, earning less than they would have otherwise while becoming less likely to start over again later in preferred fields, Zukin says.




Only one-fifth of those who graduated college since 2006 expect greater success than their parents, a Rutgers survey found earlier this year. Little more than half were working full time. Just one in five said their job put them on a career path.

As the dream fades:

“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,” says 2009 law school graduate Elizabeth Hallock, 33. “It was pretty naïve on my part.

And fingers are pointed:

Hallock is the named plaintiff in one of 14 lawsuits against some of the nation’s best-known law schools, including her alma mater, the University of San Francisco School of Law. The civil complaints, filed in 2011 and 2012, accuse the institutions of overstating graduates’ job-placement results and incomes.


Young Americans are struggling to reconcile their lack of economic rewards with their relatively privileged upbringings by Baby Boomer parents and the material success of their older peers, Generation X, born in the late 1960s and 1970s...

But whose fault is it?

“It’s a generation that had really high expectations, in some part driven by the way they were raised by their boomer parents,” she says. “Yet in the past five years they have had reality slammed in their face by the employment situation.”


The same housing crash that hammered young architects and loan officers also slammed lawyers. Law schools are turning out about 45,000 degree holders a year for about 25,000 full-time positions available to them, according to the National Association for Law Placement Inc. in Washington. The class of 2011 had the lowest placement with law firms, 49.5 percent, in 36 years.


“It is not the perfect path to wealth and success that people may have envisioned,” says Robin Sparkman, editor in chief of The American Lawyer magazine in New York.

Which is leading to lawsuits - by the new lawyers against their schools...

“It’s hard to look at the information the schools were putting out and say it’s not misleading,” says Derek Tokaz, research director of the nonprofit Law School Transparency initiative. It published research showing that the chance of recent graduates getting permanent full-time work in law was far lower than the 80-95 percent total employment rates the schools typically boasted.

But for some - a new different life is peeking through...

“As it is, all of my possessions still fit in the back of my truck,” she says. “I can pack it in a couple hours, pick up the trailer and horses and move anywhere the gas tank will take me at the drop of a hat. What can the system take away from you when you have that kind of freedom?


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Wed, 12/26/2012 - 11:19 | 3096140 Gene Parmesan
Gene Parmesan's picture

The so called "greatest generation" begat the worst.

Wed, 12/26/2012 - 11:23 | 3096149 redpill
redpill's picture

Hope ya'll like the taste of Dinki-Di.

Wed, 12/26/2012 - 11:32 | 3096175 CH1
CH1's picture

I'm waiting to see what they come up with next to keep the young guys in a permanent trance.

Video games and Facebook and iGadgets have already reached saturation and the novelty factor will wear off.

What's next, Soma?

Wed, 12/26/2012 - 11:34 | 3096181 fonzannoon
fonzannoon's picture


Wed, 12/26/2012 - 11:46 | 3096216 Zap Powerz
Zap Powerz's picture

Fonz nailed it.  It will be war.

What do you do with a large population of unemployable young males?  You send them off to war to die "for their country".  War is good for banks because they get to finance it, ususally both sides of it.  Banks run the country so what is good for banks (war) is good for the country.

Oh, BTW, its not your country anymore.  You just exist on this space owned by the banks.  If you still operate under the asumption you are a "Citizen" with "rights" then you arent paying attention.

War with Iran in the near future.  This one will be big though.  Not little wars with few American deaths like in Iraq and Afganistan.

Wed, 12/26/2012 - 12:07 | 3096270 Bicycle Repairman
Bicycle Repairman's picture

LOL.  Phony "blame game" to keep the population at each others throats.  Quick question: which generation got a $16 trillion bailout?  Answer: the bankers of every generation.

Wed, 12/26/2012 - 12:59 | 3096436 Manthong
Manthong's picture

What can the system take away from you when you have that kind of freedom?

Heh heh..

Just wait until they declare your horses and truck to be systemically and strategically essential assets of the state.

Wed, 12/26/2012 - 15:11 | 3096650 francis_sawyer
francis_sawyer's picture

We need more jewish bankers for the system finally to become honest & trustworthy...


Edit: I get junked for that comment...

Fine... But I pose a question... Banking has existed for thousands of years... IT HAS A HORRIBLE TRACK RECORD... It has almost a 100% track record of the bankers themselves ending up being hung on lampposts (or WORSE)... I seriously doubt that by the time this latest version runs its complete course, that narrative will have changed...

The only thing that changes is the RHETORIC [applied to a new generation that has casually forgotton the lessons of past generations]... IOW ~ What's 'DIFFERENT' this time isn't banking [or the thieves that consistently involve themselves in that profession]... Instead, it's the PR [the 'public relations']... Cans are successfully kicked based on how long the 'suspension of disbelief' can be maintained... To understand that [at its roots], one need only look to see who [or what subset] is unnaturally attracted to the professions of [or, more importantly, the 'button pushing positions within]:

- Main Stream Media

- political lobbying activities

- legal profession

- &, of course, the bankers themselves

The ANSWERS you need to find [laying aside ALL prejudices or knee-jerk attempts at being 'anti-prejudice'] lie within that search... In my observation, I've discovered that the identity of the primary candidates for culpability it IS NOT a 'null set'...

Wed, 12/26/2012 - 15:41 | 3096852 CH1
CH1's picture

Rockefeller was a Jew?

And Morgan too?

Who knew?

Wed, 12/26/2012 - 16:23 | 3097025 mjcOH1
mjcOH1's picture

"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.""

Then I decided to go to law shool and put all of that crazy talk behind me.

Wed, 12/26/2012 - 16:43 | 3097074 francis_sawyer
francis_sawyer's picture

Both Rockefeller & Morgan made their fortunes [*mostly after] they sold out & bought into the jew system [which ~ to summarize ~ basically offered a way to exponentially LEVERAGE their positions by way of extortion, bribery, & paper transactions ~ which enriched FEW and harmed MANY]... It's the PHILOSOPHY that matters (& there will be those, along the way, who decide to sell their souls into it)...


&, of course, there will be those, like yourself, who are incapable of seeing the innate damage that is done to mankind in the process because you are overly compelled to ruminate about the delicate surface of the facade...

Life is a trip, ain't it?

*I'm talking about REAL fortune... Though it's funny because Morgan himself didn't really have a pot to piss in... Rockefeller [by nature of the "non-paper" characteristic of his interests, escaped that to a degree]...

Wed, 12/26/2012 - 16:55 | 3097141 Ahmeexnal
Ahmeexnal's picture

The Rothschilds are jesuits who pretend to be jews.
Jesuits are part of the Vatican's Ecclesia Militans.
You know jackshit bout philosophy or economy.

Wed, 12/26/2012 - 17:33 | 3097149 francis_sawyer
francis_sawyer's picture

Jesuits are jews who pretend to be part of the Vatican... [Which makes for, like, a DOUBLE WHAMMY of evil]..


Edit: Yeah whatever... Junk away... The MK Ultra program loves it some Jesuits... It's their source for all their best potential recruits...

Fucking sick world bitchez... [but people, by all means listen to CH1 & fat Jim Morrison ~ they'll keep you on the rails to righteous living]...

Wed, 12/26/2012 - 18:09 | 3097421 Future Jim
Future Jim's picture

The REAL power. The power behind both the Jesuits AND the Jews

... is ...


Wed, 12/26/2012 - 18:43 | 3097527 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

I have so many theories about conspiracies (and about mistaken construction of knowledge) that I actually could argue that.

No one ever asks though.

(I mean explain it in person, with a lot of give-and-take question-and-answer from the listener(s); I haven't got things together well enough to argue it here in text today.)

There are just too many plausible conspiracies at play in the world right now for me to ever try to pin one of them down and "prove" it in text for enough of the skeptics. And calling out Oprah or an African Master Race ancient conspiracy in general without enough proof would be a bad and hurtful thing. Especially when the average black or African is already the low man on the pyramid of so many other conspiracies.

Just researching Reinhard Gehlen in full (not a black supremacist, to say the least) is one projects of many on my plate, and it opens up a huge Rabbit Hole.

Wed, 12/26/2012 - 19:15 | 3097612 francis_sawyer
francis_sawyer's picture

Harpo [Oprah in reverse] is just a dumb twit who used to report about garbage collection on WJZ-TV in Baltimore... NOBODY is important until they, by pre-planning, or sheer dumb luck start tickling the stratosphere of the BIG TIME...

at that point... MOST... are consulted & recruited...

Do you want to sell out & attain a kind of IMMORTALITY (which ~ in the end, is TOTALLY mortal, but enticing nonetheless)... or do you want to just be another dipshit...

Majpr "bootlickers" in Ameican culture include:

- Sinatra

- Presley

- Monroe

- Martin [Dean]

- Hope

- Davis Jr.


& more recently

- Madonna

- Winfrey

& for that matter, you might as well toss in Bush, Clinton, & Obama


Then, there are the poor 'victims' like Spears, Aguilera, & Timberlake...

It's pretty fucked up out there peeps...

Wed, 12/26/2012 - 19:45 | 3097685 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

I'd love to pick your brain some time.

For now, let's leave this line of thought alone.

I ask this because of the multi-versial nature of the internet. I never really know if what appears to me as real is real.

It's the problem of "Is reality a Matrix? a multi-verse?" but it's even more obvious and provable. The internet is a damn multi-verse of the corporate-financial world order.

I've only just begun to see this. And I want to take the power out of the hands of the elite, before they put Generation Y and younger (globally) into an electric grid Matrix run by the banksters.

And (coming round to the point, went off on a tangent) when I find something that seems new and theoretically consistent on the internet, I prefer to verify it in person before I go further into believing it. "Seeing is believing" ha ha.

Wed, 12/26/2012 - 19:05 | 3097584 Imminent Crucible
Imminent Crucible's picture

@Sawyer: by all means listen to CH1 & fat Jim Morrison

Fat Jim Morrison? Put your glasses on--I would think you'd know Carl Wilson when you see him. If you can't see any better than that, there's no way I'm following you into Wal-Mart, let alone Aryan Nation.

Wed, 12/26/2012 - 19:19 | 3097618 francis_sawyer
francis_sawyer's picture

God only knows what I'd be without you[r comment]...


PS... I wouldn't bother going to Wal-Mart either... They're prolly sold out of ammo...

Wed, 12/26/2012 - 16:54 | 3097137 francis_sawyer
francis_sawyer's picture

Education [last 20 years style ~ & probably more] = get kids IN DEBT to 'the system'...


I've already identified my feelings towards what that 'SYSTEM' is... [the 'indoctrination' aspect of the, so-called, 'EDUCATIONAL SYSTEM' product is simply a bonus ~ as is evidenced by my detractors]...

Wed, 12/26/2012 - 16:57 | 3097138 francis_sawyer
francis_sawyer's picture

Holy Moses I double posted!...

Wed, 12/26/2012 - 17:39 | 3097312 cynicalskeptic
cynicalskeptic's picture

The 'best and brightest' will always do well enough and for them a college education usually pays off (with the caveat that some majors like 18th century French Lit and Women's Studies have limited potential for employment and are best left to trust fund kids).  Whie an edus=cation for education's sake is a noble idea the reality is that unless you are brilliant or already wealthy you cannot study any subject and hope to find employment.  A philosophy major from Princeton may find employment at some investment bank owned by a family friend but the future for some first gen college grad from State U getting B's are none too bright.   

College ahs been 'dumbed down' for the masses - though those at the top (the brightest at the best schools) have accccess to an amazingly good education.  However many if not most 'college graduates' are not getting any more REAL education than a HS grad would have had 50 years back.   My mother )(having a high end secretarial school education after HS was far better educated and more knowledgeable than most 20 somethings I meet today).  I'm appalled at the resumes and cover letters ostensibly written by graduates of four year colleges.  These people have no writing skills and when tested, no math ability.  Their claims of computer literacy are more appropriately limited to skill at game playing.   A college degree is - for too many - simply a prolonged adolescence financed by debt.

Add to that the factg that we are now offshoring white collar jobs-  basic accounting and administrative jobs (like A/P. A/R and purchasing) to join D/P and manufacturing and you have an economy with no jobs left for ANYONE.   Add to that the immigration that fills low level jobs (keeping wages down for hard grunt work) and the future prospects are nil for those lacking any real skills and work ethic (sorry but way too many young people are simply lazy - thinking they 'deserve' better).

Note: with more and more online education avaiable (like MIT classes) you can get a great education on your own now.  You always could but it is even easier now but that option is limited to the very few bright motivated people - think 'Good WIll Hunting'.  But most don't even benefit from the spoon fed pablum that's fed up at most schools now.  Those going to for-profit places are really wasting their time unless pursuing a specialized tech degree.

Wed, 12/26/2012 - 17:58 | 3097350 francis_sawyer
francis_sawyer's picture


"The 'best and brightest' will always do well enough and for them a college education usually pays off"


Yeah ~ Daddy will always have a place for them in his company...


"with more and more online education available (like MIT classes) you can get a great education on your own now"

what's more ~ you can do it in your pajamas &/or become a master of beer pong in the process


think 'Good WIll Hunting'

WILL HUNTING thought school was bullshit [he was right]... Why would you want to drop $100k [non-inflation adjusted] on an education that you could get for $1.25 plus late charges at the public library?


 My mother )(having a high end secretarial school education after HS was far better educated and more knowledgeable than most 20 somethings I meet today).

My FRIEND"S Mom makes $88 an hour on the computer... [probably because she's a MILF & has her own 'Live Hot Cam']...

Wed, 12/26/2012 - 19:28 | 3097643 knowless
knowless's picture

I would like to show you a video of me fitting parts when i still believed that i would get a raise some day, extremely quick with my hands, exquisite precision.

be careful who you call lazy.

But You're right, my generation is filled with fatass entitled dumbasses for the most part,

Management doesn't have the money to recognize or retain talent though, so let's call it even eh?

Wed, 12/26/2012 - 23:55 | 3098126 mkkby
mkkby's picture

"Hallock is the named plaintiff in one of 14 lawsuits against some of the nation’s best-known law schools, including her alma mater, the University of San Francisco School of Law. The civil complaints, filed in 2011 and 2012, accuse the institutions of overstating graduates’ job-placement results and incomes"

Hilarious.  The entitlement generation is suing because the college marketers couldn't foresee the future, and they expected a guaranteed job.  Classic.

Thu, 12/27/2012 - 03:14 | 3098301 dogbreath
dogbreath's picture

She should go help Robb.

Wed, 12/26/2012 - 16:34 | 3097038 mjcOH1
mjcOH1's picture

"What do you do with a large population of unemployable young males?  You send them off to war to die "for their country".  War is good for banks because they get to finance it, ususally both sides of it.  Banks run the country so what is good for banks (war) is good for the country."

Well, China put them to work making iShit for consumers in countries that were already bankrupt.

Never mind...... there's the 'work' word.

Permanent disability and Obamaphones.....what could go wrong.

Wed, 12/26/2012 - 19:49 | 3097692 knowless
knowless's picture

Some regions might start taking the intent of the constitution more meaningfully.

Wed, 12/26/2012 - 17:19 | 3097213 DCFusor
DCFusor's picture

They are all just like the ferengi (star trek) and we should treat them the same or worse.

Wed, 12/26/2012 - 13:06 | 3096451 Urban Redneck
Urban Redneck's picture

Whether the handouts come from the FED or the Depatment of Treasury is basically irrelevant- for the last four years the Treasury has been handing out over 3.5T per year.  Even in they cut spending growth to 0 that would be $28T in 8 years.  Free lunches aren't free, someone always pays, the problem is most people are a manifestation of that unknowing idiot who winds up paying.

Wed, 12/26/2012 - 13:29 | 3096518 MagicHandPuppet
MagicHandPuppet's picture

Perhaps these disappointed vampires-in-waiting should have chosen an honest career path.

Wed, 12/26/2012 - 15:26 | 3096810 goldfish1
goldfish1's picture

Like "banker" or "politician'? Twat.


In other news, Rumsfeld and the pharmaceuticals nail another victory...

Tamiflu use approved for younger babies

The U.S. Food and Drug Administration has approved the use of Tamiflu for children as young as two weeks old.

Wed, 12/26/2012 - 18:48 | 3097545 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

From my screen, it seems that you need more +1's

(I see +1 and -3 at ~17:50).

Wed, 12/26/2012 - 14:52 | 3096697 Silver Bully
Silver Bully's picture

"and the material success of their older peers, Generation X..."

Wait, material success of Generation X?


[sniff] That's a good one, it really was. Hee-hee.

Wed, 12/26/2012 - 15:35 | 3096829 SilverDOG
SilverDOG's picture

Silver Bully,


Only for those of us who chose to see the storm coming, and prepared. 

.01% of Generation X, and 90% of those will lose all... all the paper.


Wed, 12/26/2012 - 16:03 | 3096943 Kiwi Pete
Kiwi Pete's picture

LOL. I suppose 2 unfunded wars didn't make up any of that $16T.

Wed, 12/26/2012 - 19:54 | 3097702 knowless
knowless's picture

If that's gross outstanding the proportion is minimal in comparison to savings on shipping and energy, but you are right, payments come due, especially those written in blood en lieu of contract.

Wed, 12/26/2012 - 12:23 | 3096276 DaveyJones
DaveyJones's picture

It's like the term "Boxing Day." I always thought it referred to the fights my brothers and I got into by now. This stuff is innevitable. But in some sick human natured way, maybe a "real" war with "real" deaths with wake this place up. On the other hand, maybe it will make the mice eat the very last constitutional crumb. God I'm optimistic  

Wed, 12/26/2012 - 13:05 | 3096448 flattrader
flattrader's picture

A real war with real deaths won't happen without a draft.

Went to an anti-war protest on a college campus a few years ago.  It was all people 40-70+ yrs. old.

One woman asked, "Where are the students?"  Another answered, "No Draft."

My response was, "Yeah.  Looks likes it's just us.  Same people.  Different war."

A War with a Universal Draft (no deferments) will get their attention.

When Bankster's babies have to bleed out on foreign soil, it may make a difference.

Wed, 12/26/2012 - 13:15 | 3096482 First There Is ...
First There Is A Mountain's picture

Bankster babies will NEVER bleed out on foreign soil. That's what you and I are for.....

Wed, 12/26/2012 - 14:04 | 3096568 flattrader
flattrader's picture

Bankster babies got drafted during WWII.

That was a close call for many.  Prescott Bush had to send young GHW Bush off to World War II.

Prescott's Union Bank in NY help fund the Nazi Party.  It was seized under the Trading with the Enemy Act.

That generation was willing to risk their own young to make a buck.

Weapons are differnt now and death is assured in a no holds barred regional war.

Will see if this generation of Banksters is willing to kill theirs.

Wed, 12/26/2012 - 15:39 | 3096846 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

My research suggests to me that Prescott had his scion placed into military intelligence at age 18 (before getting the fast-track in and out of Yale and its Illuminist secret society) so that he would start building his CIA credentials early.

Wed, 12/26/2012 - 18:44 | 3097534 flattrader
flattrader's picture

GHW Bush was a Navy flyboy.  He saw some action.  Took some flak.  Wound up in the drink and was rescued.

Wed, 12/26/2012 - 18:57 | 3097557 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

A flyboy taking pictures for the Joint Intelligence Center for the Pacific Ocean Areas (JICPOA).

Not bad for his age then.

That image is from Google, from Russ Baker's book Family of Secrets.

The legality of me using it is... quite debatable.

I highly recommend buying or at least reading that book.

Wed, 12/26/2012 - 19:28 | 3097646 flattrader
flattrader's picture

My point was that bankster babies were at risk. GHW Bush could have died.

Being in "Intelligence" in this instance was assurance of safety.

Wed, 12/26/2012 - 15:42 | 3096854 MrPalladium
MrPalladium's picture

WWII was fought to make the world safe for communism and to defeat a potentially autarchic empire directed by a state that began issuing new money directly rather than through a privately owned central bank.

It has taken a few decades to see the consequence, but it is now clear that Western Europe and the U.S. were the ultimate losers in WWII.

Wed, 12/26/2012 - 23:08 | 3096843 SilverDOG
SilverDOG's picture

First There Is ...



That's ok, blood does not care upon which soil it falls.

Wed, 12/26/2012 - 15:46 | 3096875 piceridu
Wed, 12/26/2012 - 13:53 | 3096577 AustriAnnie
AustriAnnie's picture

They will print money and pay it out as military pay.  Many will have no other option.

And it isn't the war so much we need to worry about, as what they will do with all those troops here at home when the war is over.  Enemies "both foreign and domestic", one after the other?

Wed, 12/26/2012 - 14:51 | 3096696 Ballin D
Ballin D's picture

The draft was almost a failure in Vietnam and will be the last successful one in the history of the United States.  Turns out all those drafted kids were really bad at aiming their grenades and ended up tagging leadership on 'accident.'  Next time around it will be even worse.  The kids that will be drafted grew up into a broken system created by those who will benefit most from the war.  And it is worse this time than it was in Vietnam.  How many will decide to risk their lives fighting for a broken system that blame cannot be hung around their necks when they could rise up against the weakened government?  Risk their lives in a war that they lose no matter what or risk their lives in a war that they could gain personally from? I can tell you that Ill accept the government's training, shortly before deserting and turning it back on them.

Wed, 12/26/2012 - 15:06 | 3096746 BlueCheeseBandit
BlueCheeseBandit's picture

I know if they try and draft me I'll dodge. If they get me over there somehow, officers' death rates go up.

I think the boomers underestimate Gen Y's intelligence. You may not have provided us with much opportunity, but you did over educate us. Draft might be the straw that breaks the camel's back.

Wed, 12/26/2012 - 16:06 | 3096951 Shigure
Shigure's picture

Hmm, over-educated or over-schooled?

No, but honestly, some of the young people I know are far more politically aware than I was at that age.  They do question authority more, which I think is a good thing.  They give me hope for the future.

Wed, 12/26/2012 - 17:13 | 3097131 Ballin D
Ballin D's picture

I originally touched on this but deleted because I felt I had gone a bit off topic on a rant.

I see an interesting trend occuring with college aged kids with the terrible macro environment.  The tails are fattening quickly.  A LOT of kids are just giving up.  They dont see a reason to try when the difference between working your ass off and giving up and riding the government is essentially nil. The really interesting thing is that the top brackets are more competitive than ever before.  Theyre working harder and longer for less payout than anyone before them.

Wed, 12/26/2012 - 17:28 | 3097247 SpykerSpeed
SpykerSpeed's picture

Completely agree.  Gen Y knows they got screwed by the government, and the Obama re-election was a blessing in disguise.  It will permanently turn millions of young people against socialism and smooth-talking politicians.  There's no way this lasts another four years.  The "crack up boom" Mises predicted will occur during Obama's 2nd term.  And the internet and P2P technology like Bitcoin will lead to a superior monetary system, no matter what the central planners attempt to shove down our throats next.  People will simply walk away.

Wed, 12/26/2012 - 18:56 | 3097556 Blizzard_Esq
Blizzard_Esq's picture

Bitcoin is subject to hackers stealing the digital wallets. Forget it. 

Wed, 12/26/2012 - 21:26 | 3097856 Ballin D
Ballin D's picture

I did some research on the subject about 18 months ago (nothing major, just for a quick paper and presentation) and my feeling on the issue was that the system is actually fairly secure.  Im sure it could be beaten but it appeared to be a lot more secure than credit cards or digital accounts with banks.  The biggest risk I saw had nothing to do with the technology - just the value retention over time ("will bitcoins even be a thing a year from now?").

Of course someone could always grab the info with a keylogger or physical access but this is only really considered hacking by the out-of-touch 50+ crowd who can barely check their email without their children's help.

Wed, 12/26/2012 - 15:44 | 3096873 MrPalladium
MrPalladium's picture

You don't have to draft robots and drones, you just gotta build em and pay for em!

Wed, 12/26/2012 - 20:03 | 3097718 knowless
knowless's picture

Occupy proved that overt protests mean nothing. No cares what you thought of methods or ideology.

A homeless camp in front of every major city courthouse in the nation, and the public gave no shits, the "media" hired armed guards for their "reporting," and the government got every agency applicable together to shut people up. What it is, the government can no longer be petitioned by the populous, proof, act accordingly.

The only meaningful step after this is who retains/gains power in the decline, prey they hold some values.

Did you catch that?

Build community.

Wed, 12/26/2012 - 12:18 | 3096305 Tom_333
Tom_333's picture


The only marginally useful advice I can give is - Pull a Galt. Besides there´s a big world out there.Take a couple of years off on a beach in the Phillipines. Who knows - something better may come put of that instead of being holed up in a corporate cubby-hole that goes for "work-space".After all taxes will only go up.

Wed, 12/26/2012 - 13:54 | 3096579 sethstorm
sethstorm's picture

You underestimate the ability of a sufficiently motivated hyperpower to moot that option.

That, and they will not have a shortage of US citizens willing to do it to preserve the way of life that they have known.

Wed, 12/26/2012 - 13:25 | 3096312 Richard Chesler
Richard Chesler's picture

If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.



Wed, 12/26/2012 - 14:53 | 3096702 Silver Bully
Silver Bully's picture

"first by inflation, then by deflation"

Buy high, sell low! Waitaminute  . . .

Wed, 12/26/2012 - 20:04 | 3097721 Who is John Galt
Who is John Galt's picture

If the American people ever allow JEWS to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.


There I fixed it for you!

Wed, 12/26/2012 - 12:29 | 3096350 ElvisDog
ElvisDog's picture

The "imminent war with Iran" meme is getting as old and tired as video games and iToys. I've been reading "imminent war with Iran" stories for at least 4 years now. When, when, when, will the most predicted war in history take place???

Wed, 12/26/2012 - 12:53 | 3096418 SgtShaftoe
SgtShaftoe's picture

Iran is just one mere possibility.  There's plenty of other vassal states in the American empire.  It may not even start in the US.  China and Japan could set something off, China and India could set something off, or the currency could have a hiccup in the US, and the rest of the world could pounce and beat the shit out of the bully.  It could be a world wide conflict between non-state actors and nation states.  When a city's worth of buildings is built of straw and gasoline, something will catch light eventually.  

Wed, 12/26/2012 - 13:04 | 3096442 koncaswatch
koncaswatch's picture

Maybe "immenent war with Iran" is nothing more than a headfake. What other countries are on the banker/NWO shitlist? N Korea? Or an easier target (a la Greneda) Cuba?

Wed, 12/26/2012 - 16:50 | 3097115 RockyRacoon
RockyRacoon's picture

I agree with you.  Iran is too convenient.  The false flag will occur where the general populace least expects, and knows the least about.  Can't make up lies about the "enemy" when folks already know about them.  My bet is on some country in Africa.  After all, China is setting up influence there and the U. S. has to thwart their efforts.  It'll be a proxy war with China, and a lot of African folks will die fighting it.  Just my best guess.

Wed, 12/26/2012 - 17:43 | 3097329 cynicalskeptic
cynicalskeptic's picture

Intelligent thought - depopulate resource rich Africa.  We've been fighting over it for decades by prixy during the cold war.  China has made some serious moves buying in via outright purchases, aid and long term contracts.  Have been surprised the US allowed things to go so far (but then we DO owe China a fortune).

Wed, 12/26/2012 - 19:08 | 3097595 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

We DO owe China a fortune??

Let's look at the invisible assumption there.

They hold bonds. Tradeable bonds.

Mass rejection of US Treasury Ponzi bonds (and-or the tax system that gives these bonds their value) WILL make them worthless in the markets.

After that, who knows what will happen?

Maybe the Fed will intervene, maybe not...

Wed, 12/26/2012 - 12:31 | 3096357 spentCartridge
spentCartridge's picture

If you consider yourself as a registered voting citizen, then you are, not to put too succinct a slant on it, fucked.

Legal land (the bank) has you by the balls and you are too ignorant to know why.


You gots to become a 'member of the public' as opposed to a 'citizen'.


Pretty simple really when you finally figure it out.


Wed, 12/26/2012 - 13:07 | 3096454 SpeakerFTD
SpeakerFTD's picture

Care to provide a link, professor?

Wed, 12/26/2012 - 13:14 | 3096480 spentCartridge
spentCartridge's picture

Here you go ~ TNS RADIO - Seeking solutions

I have many, many, many more too, but that one ought to keep you occupied for at least a couple of weeks.

Vins' podcasts are where you want to go.


Enjoy :)


Wed, 12/26/2012 - 12:32 | 3096360 U4 eee aaa
U4 eee aaa's picture

With the way this gun argument is heating up it is more likely to be civil war

Wed, 12/26/2012 - 12:55 | 3096427 ElvisDog
ElvisDog's picture

I disagree. The  public has an attention span of about two weeks. Something else will come up and the MSM news industry will switch their 24/7 coverage to the new story. Gun control will die with a whimper. I think even Obama knows that if he tries to ban guns that half the country will simply say "no" and then what does he do? Imprison 50 million people? Do house-to-house searches on half the homes in the country? He would look like an ineffective idiot so he won't even try.

Wed, 12/26/2012 - 13:05 | 3096447 Tijuana Donkey Show
Tijuana Donkey Show's picture

That's how he's going to solve the jobs situation. Half of America can search and lock up the other half, BOOM, a Kenyisan wet dream.

Wed, 12/26/2012 - 16:55 | 3097134 RockyRacoon
RockyRacoon's picture

"With the way this gun argument is heating up it is more likely to be civil war"

Nah.  The NRA will fold like a $3 lawn chair.  They are more interested in the power of their chairmanships and committee connections than really doing any good.  They are vociferous, but motivated by the same things that Washington DC is.  The AARP is about the same.  I am or have been a member of both, so I've seen the blanket ads and opinion pieces that they send out.

Wed, 12/26/2012 - 21:06 | 3097604 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

I'm glad someone is calling out the NRA in this way. They seem to me to just be stoking public opinion around one of Mencken's hobgoblins.

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.

Wed, 12/26/2012 - 13:13 | 3096477 Larry Dallas
Larry Dallas's picture

+1 million to Fonz.

I have a feeling there will be some program with "at risk" youth (meaning highly likely to be incarcerated) will ship over first via a draft.

Then the rest of them.

This will be the Planned Parenthood of the 21st Century.


Wed, 12/26/2012 - 15:04 | 3096739 Silver Bully
Silver Bully's picture

"I have a feeling there will be some program with "at risk" youth (meaning highly likely to be incarcerated) will ship over first via a draft."

According to the Department of Justice, during 2011, the number of prisoners under the jurisdiction of state and federal correctional authorities was 1,598,780.

Need to solve the prison population problem? No sweat. But you better keep your nose clean in the not-so-far-flung future. Instead of avoiding the draft by going to college, you avoid being a conscript by avoiding the police. Police state indeed.

Wed, 12/26/2012 - 13:28 | 3096516 1100-TACTICAL-12
1100-TACTICAL-12's picture

It shall be war indeed, the idea of actually being a freeman ended with property tax.

Wed, 12/26/2012 - 15:48 | 3096888 SilverDOG
SilverDOG's picture



Which may be eradicated, if you live in a state which allows: Alloidal Title

Wed, 12/26/2012 - 16:57 | 3097147 RockyRacoon
RockyRacoon's picture

Yeah.  MERS threw a monkey-wrench in just about all of the legal aspects of property ownership.  I think for good reasons of their own, they wanted the rules of property laws to be upset and be questioned.  It's not all over yet folks.

Wed, 12/26/2012 - 11:46 | 3096219 TruthInSunshine
TruthInSunshine's picture

It's not just newly frabricated or even experienced lawyers, architects or other "professionals," either, but what some call "skilled trades," who may be able to find work, but it's at an hourly wage of $10 to $14 per hour, more often than not with very slim (or none) retirement benefits, etc., when these same jobs used to pay well over $35/hour along with another $15 to $25 worth of medical, pension and other benefits on top (see article below).

As many here are undoubtedly aware, we are in a contracting global economy, as measured in real economic output, productivity and consumption, despite what heavily massaged statistics generated by various governmental beaurocratic agencies (such as the BLS) claim. Some could and do credibly argue we've entered a deep economic recession or even depression, and they have compelling statistics of their own to back those claims up (e.g. how understated official inflation allows GDP to print flat or positive, only due to officially "not counted" higher prices, which hides dramatically decreased consumption; e.g. how deficit-derived government spending has essentially made as many as 25% of the U.S.'s population dependant, partially or entirely, upon direct government transfer payments to meet their basic needs, such as SNAP/EBT, SSI, Social Security, Medicare/Medicaid, UI & extended UI, etc., which allows the "soup lines" of the 1930s to now be hidden from view).

Here's a really interesting article that pretty much rips apart the notion that there's a "skilled worker" shortage in the United States, and lays bare the truth that many of those companies claiming this (and politicians repeating it) are essentially only willing to hire extremely highly skilled workers for what are barely above fast food worker wages, which won't even allow such workers to pay off their educational loans (another truth laid bare):

Skills Don’t Pay the Bills

By Published: November 20, 2012

Earlier this month, hoping to understand the future of the moribund manufacturing job market, I visited the engineering technology program at Queensborough Community College in New York City. I knew that advanced manufacturing had become reliant on computers, yet the classroom I visited had nothing but computers. As the instructor Joseph Goldenberg explained, today’s skilled factory worker is really a hybrid of an old-school machinist and a computer programmer. Goldenberg’s intro class starts with the basics of how to use cutting tools to shape a raw piece of metal. Then the real work begins: students learn to write the computer code that tells a machine how to do it much faster.

Nearly six million factory jobs, almost a third of the entire manufacturing industry, have disappeared since 2000. And while many of these jobs were lost to competition with low-wage countries, even more vanished because of computer-driven machinery that can do the work of 10, or in some cases, 100 workers. Those jobs are not coming back, but many believe that the industry’s future (and, to some extent, the future of the American economy) lies in training a new generation for highly skilled manufacturing jobs — the ones that require people who know how to run the computer that runs the machine.

This is partly because advanced manufacturing is really complicated. Running these machines requires a basic understanding of metallurgy, physics, chemistry, pneumatics, electrical wiring and computer code. It also requires a worker with the ability to figure out what’s going on when the machine isn’t working properly. And aspiring workers often need to spend a considerable amount of time and money taking classes like Goldenberg’s to even be considered. Every one of Goldenberg’s students, he says, will probably have a job for as long as he or she wants one.

And yet, even as classes like Goldenberg’s are filled to capacity all over America, hundreds of thousands of U.S. factories are starving for skilled workers. Throughout the campaign, President Obama lamented the so-called skills gap and referenced a study claiming that nearly 80 percent of manufacturers have jobs they can’t fill. Mitt Romney made similar claims. The National Association of Manufacturers estimates that there are roughly 600,000 jobs available for whoever has the right set of advanced skills.

Eric Isbister, the C.E.O. of GenMet, a metal-fabricating manufacturer outside Milwaukee, told me that he would hire as many skilled workers as show up at his door. Last year, he received 1,051 applications and found only 25 people who were qualified. He hired all of them, but soon had to fire 15. Part of Isbister’s pickiness, he says, comes from an avoidance of workers with experience in a “union-type job.” Isbister, after all, doesn’t abide by strict work rules and $30-an-hour salaries. At GenMet, the starting pay is $10 an hour. Those with an associate degree can make $15, which can rise to $18 an hour after several years of good performance. From what I understand, a new shift manager at a nearby McDonald’s can earn around $14 an hour.

The secret behind this skills gap is that it’s not a skills gap at all. I spoke to several other factory managers who also confessed that they had a hard time recruiting in-demand workers for $10-an-hour jobs. “It’s hard not to break out laughing,” says Mark Price, a labor economist at the Keystone Research Center, referring to manufacturers complaining about the shortage of skilled workers. “If there’s a skill shortage, there has to be rises in wages,” he says. “It’s basic economics.” After all, according to supply and demand, a shortage of workers with valuable skills should push wages up. Yet according to the Bureau of Labor Statistics, the number of skilled jobs has fallen and so have their wages.

In a recent study, the Boston Consulting Group noted that, outside a few small cities that rely on the oil industry, there weren’t many places where manufacturing wages were going up and employers still couldn’t find enough workers. “Trying to hire high-skilled workers at rock-bottom rates,” the Boston Group study asserted, “is not a skills gap.” The study’s conclusion, however, was scarier. Many skilled workers have simply chosen to apply their skills elsewhere rather than work for less, and few young people choose to invest in training for jobs that pay fast-food wages. As a result, the United States may soon have a hard time competing in the global economy. The average age of a highly skilled factory worker in the U.S. is now 56. “That’s average,” says Hal Sirkin, the lead author of the study. “That means there’s a lot who are in their 60s. They’re going to retire soon.” And there are not enough trainees in the pipeline, he said, to replace them.

One result, Sirkin suggests, is that the fake skills gap is threatening to create a real skills gap. Goldenberg, who has taught for more than 20 years, is already seeing it up close. Few of his top students want to work in factories for current wages.[continue reading via link above]

Wed, 12/26/2012 - 12:02 | 3096257 pashley1411
pashley1411's picture

This has been going on for some time, the loss of bargaining power by people with labor, physical, mechanical, and even technical skills, in favor of those who have managment and social skills.    Oh yes, and companies lieiing through their teeth, that has a long history as well.

Wed, 12/26/2012 - 12:10 | 3096279 Freddie
Freddie's picture

A lot of companies want illegals or HB1s who are slaves.  The Democrat Party obliges along with the NWO RINOs.   A lot of Americans want that unionn job too.  LOL!  Hope & Change bitchez!

Wed, 12/26/2012 - 13:04 | 3096445 infinity8
infinity8's picture

And this:

Severe reductions in pay for us older folks with jobs.. good article. I know lots of people who have had the same handed to them in the last few years. And my friend who is a chemical engineer is currently unemployed.

Wed, 12/26/2012 - 12:57 | 3096431 SgtShaftoe
SgtShaftoe's picture

If you have a drivers license and a heartbeat, you can make 60-80K / year working in the Baakan in North Dakota just driving a truck.    

Wed, 12/26/2012 - 13:23 | 3096499 cxl9
cxl9's picture

Yes. Not to mention $180K/year working in the Alberta oil sands, if you're willing to endure the cold of course.

There are, and always have been, well-paying jobs for those who are willing to show up and work hard. Maybe if people lost their entitlement attitudes and the government stopped providing so much welfare, people would rediscover the desire to work.

Wed, 12/26/2012 - 14:12 | 3096613 yogibear
yogibear's picture

The new worker has to be a nomad. Live where the work is at until it becomes saturated with overseas slaves. Then move to a state or country which pays more. 

Wed, 12/26/2012 - 13:24 | 3096504 CH1
CH1's picture

I was there recently. Stunning!

Wed, 12/26/2012 - 13:59 | 3096575 TruthInSunshine
TruthInSunshine's picture

I've been to Minot, and it's great if you want to live in a place where there's about 15 times the people the current infrastructure can support (due to the economic depression in the rest of the U.S., except for D.C. & Manhattan, the two welfare king cities; government jobs and too-big-to-fails), the housing resembles particle board dollhouses being slapped together by monkeys (and a bizarre # of people live in dive motels), and all cultural aspirations follow a "main drag" lined with Wendy's, Taco Bell, McDonald's, Walmart & 6-plex 1970s era movie theaters.

I'm not saying that the boom there is not sustainable, nor am I saying that it wouldn't be a wise move for those currently looking for work to look at as a potential employment epicenter, but I am saying it's something of a one trick pony (there is mining, also, but everything is hard-core commodity based and dependent out there), and I am saying that it's not exactly the charmed existence in terms of housing, infrastructure, weather or quality of life, in general (in addition to being susceptible to quite sudden and volatile downturns due to a lack of economic diversity).

Wed, 12/26/2012 - 14:12 | 3096610 Real Estate Geek
Real Estate Geek's picture

Sounds like a great place for <ahem> entrepreneurial young ladies to make a lot of money, too.

Wed, 12/26/2012 - 14:14 | 3096599 Real Estate Geek
Real Estate Geek's picture

Serious questions for those who are better educated in economics than I:

Given the US's persistent trade deficits, wouldn't the employment picture be substantially improved if the pendulum swung more towards autarky?  In other words, why must US workers join the global race to the bottom by trying to compete with workers in China who toil for the equivalent of $15/ day? 

Is it due to anything more than:  (i) the corporate ownership of our government; and/or (ii) Triffin’s Dilemma?

(My hypothesis is that the US economy is large enough--even without exports--to support a vibrant manufacturing sector, IF we limit imports.)




Wed, 12/26/2012 - 15:32 | 3096654 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

Most of our economic theories take this money system (bonds as the gold-standard collateral asset upon which to issue credit) as a paradigmatic, there-is-no-alternative given.

Triffin's Dilemma is a very good Achilles' Heel for any neo-classical economist. This dilemma does guarantee that we have "no alternative" and that we "must" race-to-the-bottom in a world of state-capitalism, cartel collusion, profits-uber-alles, and whatever else we want to complain about but "can't change." You can watch them wriggle and squirm to try to just say "things have to be this way" and get back over to their comfort zones -- in which they don't feel the shit-end of this economic order, as do most everyone else, including the non-human animals. (Including some very intelligent ones.)

Auto-archical or autarkical economonic thinking is what I recommend, but at a much smaller level than the United States.

The great trick, for which I will pray, is that people don't decide to go to war just because the corporation-under-capitalist-deceivers model stops paying them in poker chips for their obedience.

Think. Question. Re-evaluate. Every day.

And by the way (to others, not you), gold as a reserve asset upon which to issue credit is just an earlier iteration of this same model, as gold-lending-at-interest is an even earlier iteration.

New thinking. Be smarter than you were taught to be, people.

Wed, 12/26/2012 - 15:28 | 3096814 BlueCheeseBandit
BlueCheeseBandit's picture

Autarky is the answer if the question is: How can I further impoverish the USA?

Economists disagree on a lot, but virtually all (neoclassical, Austrian, Chicago, Keynesian, etc.) agree on the merits of free trade.

It's true there would be more jobs in autarky. It's also true that ppl in your household would be busier if you stopped trading with other households, but you would also be a lot poorer. Autarkical arguments can't find any logical reason to draw the border at the nation, the state, the town, or the front lawn. Usually autarky is just an expression of racism or nationalism.

An attack on autarky is an attack of specialization and the division if labor. It's economic suicide.

Having said that, there are noneconomic reasons to favor autarky. From a practical perspective, larger systems are harder to police. So big national and international economies risk creating rentiers that don't actually produce goods or services their fellow men want, but game the system to create transfers from producers to themselves.

I believe that is the true evil of our globalist system. But autarky isn't the solution. The solution is a radical free market system that reduces the opportunities for wealth extraction by politically powerful groups. That's one of the best arguments for a gold standard: gold can't be manipulated by politicians. A just and virtuous legal system is also necessary.

People will get these things if they demand them strongly enough. But today most people want the cheap and easy. They don't want to think too hard about their choices.

In that world, self-sufficiency is important. Everyone should have the means to survive at least a year without income from outside the household. Getting a year of food from a reputable survivalist retailer is a good start.

Wed, 12/26/2012 - 15:49 | 3096855 earleflorida
earleflorida's picture

@ Real Estate Geek

Does Henry Kissinger ring a bell? (CFR)

Quote: "But of course the dominant foreign policy figure in both the Nixon and Ford administration was not William Rogers but Henry A. Kissinger, who was named nat'l security adviser and soon became the sole force in foreign policy, officially replacing Rogers as Sec. of State in *1973 {(two years after the Nixon shock(*the year Nixon resigned 7/1973)}."

"Kissinger was virtually "Mr. Rockefeller". As a **Harvard political scientist, kissinger had been discovered by John J. McCloy [check out - McCloy died 1989, but his son, J.J. McCloy II lives on?], and made director of a CFR group to study the Soviet threat in the nuclear age. [excerpt]"

"Apart from the Vietnam War, (which Nixon re-escalated,  secretly bombing and then invading Cambodia in 1969-70 through Ellsworth Bunker) the Nixon Administration major foreign policy venture was the CIA-led overthrow of the Marxist Allende regime in Chile. U.S. firms controlled about 80% of Chile's copper production and copper was by far Chile's major export (***in the 70's). [excerpt]" 

"Richard Nixon also established, for the first time, diplomatic relations with communist China. Nixon was urged [remember he was a Rockefeller man whom Kissinger literally owed his political career to, and held great sway over Nixon- jmo] to take this step by a committee of prominent businessmen and financiers interested in promoting trade with and investment in China. The group included Donald M. Kendall; Gabriel Hauge, Chairman of Manufacturers Hanover Trust Co.; Donald Burnham, head of Westinghouse; and David Rockefeller, Chairman of the Chase Manhattan Bank."

"The first envoy to China was the veteran elite figure and diplomat, David K.E. Bruce, who had married a Mellon, and who had served in high diplomatic post in every Administration since that of Harry Truman [Eisenhower and Truman were softies on Communist China]. After Bruce became Ambassador to NATO, he was replaced by George H.W. Bush, a Texas oilman who had served briefly as the Ambassador to the United Nations. More important than Bush's Texas oil connections was the fact that his father, Connecticut Senator Prescott Bush, was a partner at Brown Brothers Harriman." 

end quotes [excerpts] M.N. Rothbard; c.1984 

Ps. Nixon played an important role within several presidents administration [ following his disgraced departure as president until his death on 4/22/94 ]; Ford used him extensively, as did Reagan, and Bush #41 !!!

Ps2. "Backgrounder: China's 12th Five-Year Plan  [6/24/11[ note the timeline?]

Wed, 12/26/2012 - 18:22 | 3097460 ronaldawg
ronaldawg's picture

Look at Spain after WWII and I think you have your answer....

Wed, 12/26/2012 - 19:40 | 3097672 Real Estate Geek
Real Estate Geek's picture

Thank you, all!

Wed, 12/26/2012 - 14:04 | 3096604 YomptonOH10
YomptonOH10's picture

This is easy to figure out.  When you live in a country that allows people to take a dollar saved and lend it out frac. reserve style making 100 new ones.  Than it's obvious where all the money is going to go, not to skilled trades....It's the FIRE economy baby!  Where you too can turn in that blue collar for white one and peddle Federally mandated insurance from via the Gov't Employee Insurance Company. Oh wait, nevermind, Berk Hath bought that out and uses computers to make all the quotes and modify the policies.  NO WORK FOR YOU Bitchez!!!!

Wed, 12/26/2012 - 14:12 | 3096612 machinegear
machinegear's picture

Adam's article is spot on. After being laid off from a computer tech job, a friend of mine went back to school to become a robotics engineer. The trade is an extremely complex mix of metal working, robotics, and computer coding; definitely not suited for the common joe. He graduates in the spring. John Deere has already offered him a job to build tractors that have a MSRP of $269k. The job pays around $35k/year. I couldn't believe it.  

Wed, 12/26/2012 - 14:32 | 3096645 Imminent Crucible
Imminent Crucible's picture

It can be worse than that. My old buddy, a middle manager for Continental Airlines, told me that their Continental Express pilots get paid around $17k a year. To fly commercial airliners (Embraer RJ-145, etc). They do it because it's their only hope of getting a chance at a "real" pilot job.

Wed, 12/26/2012 - 15:52 | 3096901 TruthInSunshine
TruthInSunshine's picture

That's true, at least according to an article published in a widely distributed main and lame ass stream media rag that I can't find the link to at the moment.

Many pilots flying regional turboprops and even jets make around 20k a year. I couldn't believe it when I read it...

Wed, 12/26/2012 - 16:34 | 3097058 Shigure
Shigure's picture

Not just in the US:

Air Berlin co-pilots paid near poverty level;

Air India to cut wages to bring down costs:

From Rice Farmer

Thu, 12/27/2012 - 00:19 | 3098156 mkkby
mkkby's picture

Extremely complex or not, the low wage proves there's a glut of them.  The junior colleges are cranking them out, and poor suckers like your friend are getting fleeced.  DO NOT go into a profession serviced by these junior college scam artists.  Find a niche that's not well publicized.

Wed, 12/26/2012 - 14:13 | 3096614 duo
duo's picture

$18 bucks an hour to run a half million-dollar machine, after years of experience?  If he wants to pay Chinese wages, he should move his operation to China.  Wait, I bet he did that, and between quality, logistics, and payoffs he had to make to keep his factory going, he moved it back.

There was such thing as supply and demand that determined the price of labor.  I guess when the manufacturing industry is small enough, the remaining companies can conspire to keep wages low.

I'll bet if he did offer $30/hour for experienced help, he'd find qualified people, and it would be cheaper for him in the long run.

Wed, 12/26/2012 - 12:00 | 3096254 Water Is Wet
Water Is Wet's picture


Dude, 2001 called.  We've been at war for the last 11+ years (conservatively).  And don't give me that shit about "that's not a REAL war... just wait 'til the next one!"

Wed, 12/26/2012 - 13:15 | 3096481 flattrader
flattrader's picture

Sonny, this ain't a real war.  There's no Draft.

This is a private security action courtesy of GWB and and started for his friends in the energy industry.

Don't be confused.

Wed, 12/26/2012 - 16:20 | 3097010 Cathartes Aura
Cathartes Aura's picture

if the private contractor's "war" was acknowledged as "real" then whoever sits in the nation-all figurehead seat would lose a lot of the power wielded currently. . .

if they ever declare "war" begin the countdown.

Wed, 12/26/2012 - 12:53 | 3096416 prains
prains's picture

It's actually a global nightmare that has finally come to the USA

Wed, 12/26/2012 - 13:06 | 3096450 ramacers
ramacers's picture

probably right.

Wed, 12/26/2012 - 13:39 | 3096539 Titus Flavius C...
Titus Flavius Caesar Vespasianus Augustus's picture


"The prospect of war with Iran was conceivable in 2006, but hardly imminent: we here at were well aware of the long-term goals of the War Party in this respect, but hardcore anti-interventionist circles – not so much. Of course, everyone in the foreign policy community was well aware of AIPAC’s relentless propaganda campaign, which presaged much of the open warmongering to come. However, at that point we were still in the midst of the neoconsdisastrous war in Iraq – which Kristol & Co. had been ginning up for years – and hardly anybody anticipated their future war plans.


This isn’t about Chuck Hagel, a man admired by his colleagues in the Senate, whose military experience and record of judicious independent thought more than qualifies him to head up the Pentagon: it’s about whether we are going to start World War III. It’s about whether a gaggle of discredited ideologues, in alliance with a powerful lobbying group openly serving the interests of a foreign government, is going to be allowed to take us into a war certain to devastate the region, drive us further into bankruptcy, and cause untold human suffering. "



Gentlemen, please consider sgning the petition referenced therein, and telling whereof thy associates and comrades of like mind.

Wed, 12/26/2012 - 15:43 | 3096868 escargot
escargot's picture


Wed, 12/26/2012 - 16:44 | 3097094 Mr. Magoo
Mr. Magoo's picture

The only option left, considering also the Globalists are telling us that we have GEN X, GEN Y and the last letter GEN Z which is the end of the alphabet and exactly what will happen when WW3 which has already started will escalate then their Georgia Guide stones will be fulfilled by wiping out 90% of the population

Wed, 12/26/2012 - 18:18 | 3097448 ronaldawg
ronaldawg's picture

Nope - legalized Marijuana solves everything.

Gov't gets more and more taxes.

Gen Y muppets won't notice the higher taxes to pay boomer's pensions and their lower pay (e.g. their SLAVERY).

Problem solved.

Wed, 12/26/2012 - 19:48 | 3097622 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

I once read about a fellow whose thesis was related (not identical):

In my opinion, we should have had a bit more discussion on the idea than we got from the MSM.

Wed, 12/26/2012 - 11:39 | 3096193 drbill
drbill's picture

Soma is already here. It just has many names now. Zoloft, Prozac, etc.

Wed, 12/26/2012 - 11:57 | 3096239 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

Hi CH1, I remember a lot of your comments (you've always been pretty smart or right-on).

I never quite understood the anarchy thing though.

But, of late, after seeing the many conspiracies in the world, I see how wise anarchy is as an option to keep handy. Especially when our media (television and internet architecture corporations)-provided choices seems to be esoteric Fascism or esoteric Communism -- or Poker Chip Libertarian Fascism versus Corporate Feudal Collectivism -- or make up whatever terms and words fit best.

There are thorny, wicked conspiracies at essentially all possible levels of trust and power in government. (Exceptions may be said to prove the rule.)

("You don't need to find a needle in the haystack when it comes to corruption -- you're looking at a STACK OF NEEDLES already and you just don't know it...")

("No one knows how to get out of the mess because no one sees the mess for what it is.")

Let me drop this here, I've been working on it for awhile, even as it remains an opera aperta. I see many problems at many levels, but I rate our money system and our sovereign "crown" conspiracies as the first things that will have to halt (one day at a time) if the people are to ever evaluate anything in light of hidden facts:

I support, at this time, a sort of philosophical or metaphysical anarchism (which seems to logically then entail political anarchism), as well as non-violence (with violence as a last resort for each man to decide himself -- hopefully his community or his ethics keep him from going spree-killer, or "anarchy-in-the-UK!!" robber pirate).

The Constitution may be just another game for the Crown lawyers to play with, but it's also a good starting point. Edwin Vieira and I agree about a lot of stuff too.

It's all about responsibility, people. We all have great power. Use it responsibly.

Wed, 12/26/2012 - 12:16 | 3096302 CH1
CH1's picture

I remember a lot of your comments (you've always been pretty smart or right-on).

Thanks. :)

Wed, 12/26/2012 - 14:26 | 3096636 Nehweh Gahnin
Nehweh Gahnin's picture

Philosophical/metaphysical anarchism?  Does that mean you really don't have to do it, just think about it?  And for those who have truly embraced anarchist tenets, enough with the "spree-killer" and "robber pirate" crap.

I thumbed UP your post, but you have some more learning to do.  Violence (or non-violence) are tactics, not beliefs.  The focus needs to be on personal accountability, dignity and respect for others, and strength of convictions.  Illegitimate force can be resisted (your oblique reference to self defense doesn't quite cover it), as can any unjustified and unwelcomed attempt to impose one's will upon me.  Which is really the same thing.  If you make a rule I have not agreed upon, and then if you need a gun to make me follow that rule, your rule is a priori illegitimate.

Anarchism is not "an option to keep handy."  Learn it, or don't.  Practice it, or don't.  Merry pranksters calling themselves anarchists while they waffle and debate about violence and non-violence are giving the paradigm a bad name.  It's not about violence.  It is about what you need to make your portion of the world right and good, and for that, you do what you need to do.

Wed, 12/26/2012 - 15:35 | 3096680 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

I allow for other people to not have to be anarchists. Do you?

This is an honest question.

I just want people to not be so enslaven to falsely-limited numbers of choices.

(the human mind and our physical, earthly infrastructures aren't going to change to anarachist utopia quickly)

(I'm not making any rules for you, and I acknowledge that arms lead to arms races, even as gun rights are crucial right now.)

(My recommendations are more for a one-day-a-time way of thinking than of creating a perfect world order.)

Perfect is the enemy of good.

Wed, 12/26/2012 - 17:19 | 3097214 Husk-Erzulie
Husk-Erzulie's picture

It starts with thinking about anarchy, next thing ya know yer a chucking bombs.  Slippery slope dude.  For gods sake don't think; just come back to the sheepfold before you get hurt.... LOL

Wed, 12/26/2012 - 11:57 | 3096245 Shizzmoney
Shizzmoney's picture

Actually, the iDistractions have actually woken up many in my generation as their access to read sites like this has informed us to what is really going on.

However, many are still FAR behind on what's actually happening, how the income situation (which seems to be reported everyday on not just this site, but many others) is deteriorating, as well as the distancing between class divides.

The question is, how do we change this WITHOUT random violence?  I still struggle to find an answer.

Wed, 12/26/2012 - 12:17 | 3096297 CH1
CH1's picture

how do we change this WITHOUT random violence?  I still struggle to find an answer.

Well, I don't think we can prevent violence entirely; that's just the current state of the world.

The best choice, IMO, is simply to stop supporting the system and let it fall of its own dead weight. No rulers can continue if a serious number of people stop obeying them.

Not only is ignoring the rulers non-violent, but it works FAR BETTER than the usual 'revolution' scenario. Governments are designed for violence and respond to it very well, but they fall when people see them as unnecessary and immoral.

Wed, 12/26/2012 - 13:08 | 3096461 Tijuana Donkey Show
Tijuana Donkey Show's picture

Focused violence

Wed, 12/26/2012 - 15:52 | 3096897 Shizzmoney
Shizzmoney's picture

Governments are designed for violence and respond to it very well, but they fall when people see them as unnecessary and immoral.


Focused violence

These two should do the trick.

Wed, 12/26/2012 - 14:29 | 3096642 Nehweh Gahnin
Nehweh Gahnin's picture

Opting out is considered violence by TPTB, and will be met with violence.  Try not paying your taxes.

Wed, 12/26/2012 - 15:22 | 3096800 r3phl0x
r3phl0x's picture

It's quite easy: stop productive work, and take more than you put in, via social security, welfare, medicare, ...

Wed, 12/26/2012 - 12:37 | 3096373 ElvisDog
ElvisDog's picture

And yet your generation continues to support and vote for the Democratic party who are actively working (along with the Red team to be sure) to ensure your low wage/no prospects future. You had a chance to swing the vote to Ron Paul in the Republican primaries just as the 20-somethings flocked to Obama in 2008. And yet we got Obomney verson Rombama to choose from.

Wed, 12/26/2012 - 13:10 | 3096470 pods
pods's picture

I like the ideas that Ron Paul espouses, but if we are to be realistic, the problem is much bigger than any one man can solve. I actually like it that way. If one man could solve our problems, then we would have even bigger problems.  If power was concentrated enough that one man could turn it around, I would shudder to see the tyranny around me.

As it is now, the SYSTEM is the enemy.  The players are merely small, if not widely seen, parts of it.

Our system of expansion (debt money issued at interest) is a very difficult thing to grasp, conceptually, as the root of our problem.

Most people are incapable of actually finding out the root cause of a problem. Hell, I could be wrong with our debt money/fractional reserve currency cause.

But at least by getting fed up with the system, and withdrawing as best as we can, is the actual solution to the problem.

The system will collapse on its own without a shot being fired.  

All we need to do is to have the courage to stop creating debt.  



Wed, 12/26/2012 - 15:53 | 3096903 Shizzmoney
Shizzmoney's picture

This problem is bigger than one man.  And, as the US will eventually learn, one Empire.

The revolution will not be televised.  It will, however, will probably be on

Wed, 12/26/2012 - 18:46 | 3097537 Cathartes Aura
Cathartes Aura's picture

humans hooked on the search for a "father figure" to take care of them, be it religiously or via the .gov-proxy-dad are what keeps this much talked about "revolution" from even beginning. . .

no old white guy is gonna save you - time to grow up and accept full response-ability.

Wed, 12/26/2012 - 12:48 | 3096401 Go Tribe
Go Tribe's picture

Chinese and Indian students laugh at these poor fuckers.

Wed, 12/26/2012 - 19:49 | 3097693 Who is John Galt
Who is John Galt's picture


Wed, 12/26/2012 - 12:08 | 3096274 Fredo Corleone
Fredo Corleone's picture

...And juice at $4 per gallon. +1, redpill.

Come to think of it, the Feral Kid must be in his 30's by now. Wonder if he still has that steel boomerang ?

Wed, 12/26/2012 - 16:03 | 3096936 Chuck Walla
Chuck Walla's picture




Wed, 12/26/2012 - 11:26 | 3096162 bobnoxy
bobnoxy's picture

Judge the greatest generation by what they left the next one.

Failed, corrupt government, rising debt and a consumption based economy. They demanded too little of elected officials who ginned up losing wars fought almost exclusively by poor and middle class kids whose parents had nothing to do with starting them, which we're still in debt for.

They bought all the fear mongering about the threat from tin pot dictators being a threat to our freedoms, allowed governments starting with Reagan to balloon to deficits, and held no one accountable.

They also allowed our education system to degrade into something almost useless to society.

Wed, 12/26/2012 - 11:32 | 3096174 spentCartridge
spentCartridge's picture

More, I think,  deliberate than allowed?

Wed, 12/26/2012 - 11:42 | 3096204 gckings19
gckings19's picture

not the greatest generation....but their kids, the selfish dirtbag baby boomers that have destroyed this country.   i hate them all.

Wed, 12/26/2012 - 12:03 | 3096260 Ralph Spoilsport
Ralph Spoilsport's picture

Fuck you.

Wed, 12/26/2012 - 12:10 | 3096281 Bay of Pigs
Bay of Pigs's picture


LOL. I guess we can move on from the Christmas Spirit and all that?


Wed, 12/26/2012 - 12:15 | 3096296 Ralph Spoilsport
Ralph Spoilsport's picture

Time marches on Bay. Hope you had a great Christmas.

Wed, 12/26/2012 - 12:26 | 3096337 Salon
Salon's picture

As long as you can extract transfer payments from gen Y your secret shame is that you guys would vote for a Hitler or a Stalin or a christina fernandez

Wed, 12/26/2012 - 12:31 | 3096356 Ralph Spoilsport
Ralph Spoilsport's picture

You suck at being a troll.

Thu, 12/27/2012 - 07:36 | 3098457 Lets_Eat_Ben
Lets_Eat_Ben's picture

You can always count on the ZH'ers to provide a good belly laugh. Thanks again fellas (...and ladies).

Wed, 12/26/2012 - 12:11 | 3096282 DaveyJones
DaveyJones's picture

remember to fight amongst yourselves and ignore the big common (and growing) enemies.

Wed, 12/26/2012 - 12:24 | 3096325 Ricky Bobby
Ricky Bobby's picture

Don't fall into that trap of generational war. I am a working class boomer that struggled all my life. I will probably have to struggle to the end and I accpet that. I have not taken one cent unemployment or any other transfer payment. I paid every debt.

I feel I was screwed just like you. I am a little touchy about taking the blame from some younger generation.

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