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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.”

As...

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 - 21:51 | Link to Comment Freddie
Freddie's picture

They will neeed to be very tough. Mexico is brutal on illegals and little Johnny Gen Y might get his head cut off by the cartel.

Central and South America may be the future. 

Wed, 12/26/2012 - 13:39 | Link to Comment etresoi
etresoi's picture

Oh yeah, the amerikan dream.  What will it take for you fools to see reality for what it is and get out, while you can.

Wed, 12/26/2012 - 14:03 | Link to Comment MaxMax
MaxMax's picture

The problem with starting a war to "employ" our young people is that it doesn't really solve much.  If we could start a war which could be fought with all people on Social Security, pensions, medicare and all the various entitelments and unfunded future benefits, then we might make progress on liquidating all those future promises.

What does sending off a young person with no assets and likely debt do for you?  It just makes the problem worse.  More likely is that all those young people who don't have jobs can lead to civil unrest.  Eventually, the young are more likely to start a revolution in order to repudiate all the claims on their future labor.

Wed, 12/26/2012 - 13:43 | Link to Comment venturen
venturen's picture

Tim Geithner the Manchurian...president NY Fed 2003-2009 and head of Tressury 2009-2012 can't do his own taxes and has brought the country to its knees with Batman Ben! FU Giethner & Bernanke!!!

Wed, 12/26/2012 - 13:45 | Link to Comment IridiumRebel
IridiumRebel's picture

I am a Gen X'r. I am going back to school for another degree. I will then get my Masters and beyond. The kids I go to school with are very in tune with how they are being fucked. They are answering that by getting even more education. They are beginning to awaken to the fact that no matter how much they educate themselves, it is a numbers issue. The jobs can only supply so many people with employment and the rest are SOL. They are pissed. When the whole school debt bubble begins to implode, then you will see them harness that angst. I did not vote for more free shit. I voted for solving our debt problem, but hence the free shit grabbers overrode me. Our debt is going to kill us....slowly. I wrote my senior thesis on the debt bubble and Fed/Fed Gov that is monetizing our debt and the fact that our empire is in serious decline. Of the 14 others in my class, half wrote their papers on the same or similar subject. They are aware and many will be standing next to you as we tear down the walls of TPTB. This will only go on for so long, but have faith in these youngins. I see the fire below. Information will be the fuse.

Wed, 12/26/2012 - 15:04 | Link to Comment Kastorsky
Kastorsky's picture

but TPTB is the heart of you "empire in decline".

W/o TPTB - no empire, which means your Master's will guarantee you income parity with chinese or sri lankan.

Wed, 12/26/2012 - 17:02 | Link to Comment WillyGroper
WillyGroper's picture

migh want to educate yourself in some ag & animal husbandry.

signed: Boomer   ;oD

Wed, 12/26/2012 - 17:36 | Link to Comment Angus McHugepenis
Angus McHugepenis's picture

Iridium: Good post. Happynewchristmasyearhanukkahwhatever.

Cheers!

Wed, 12/26/2012 - 13:44 | Link to Comment cxl9
cxl9's picture

Close the law schools for a generation. We have more laws and more lawyers than we can afford now. Or, even better, make it illegal to teach anything except Chinese law in the law schools. Let them go over there and ruin China's economy.

Wed, 12/26/2012 - 13:45 | Link to Comment ZFiNX
ZFiNX's picture

As an under 35-year-old, as long as the gov't continues to subsidize me, I don't really care if I work or not.

Yes, we're turning Japanese. I THINK we're turning Japanese. I really think so..

Wed, 12/26/2012 - 14:36 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

At least give a link to your reference!

 

 

Btw - 35% of Japanese males under the age of 35 are still virgins, are you claiming what I think you're claiming?

Wed, 12/26/2012 - 17:01 | Link to Comment ZFiNX
ZFiNX's picture

That is a really terrible statistic. I lie in the majority, fortunately. In America, you can still be broke and get laid, just look at all our welfare recepients.

Wed, 12/26/2012 - 13:47 | Link to Comment q99x2
q99x2's picture

A 2009 law school graduate

The only thing worse than a bankster is a lawyer. With fewer jobs for lawyers the economy should start to heal naturally. They are the scum of scum.

Wed, 12/26/2012 - 13:50 | Link to Comment AynRandFan
AynRandFan's picture

And the worst of them are the lawyers sitting on the bench.  After 20 years of law practice, my second career, I wouldn't recommend it.  Here's the business model:  unlimited personal liability combined with clients who are mostly liars and a judicial system that produces random results.

Wed, 12/26/2012 - 14:37 | Link to Comment Slightly Insane
Slightly Insane's picture

q99x2

"They are the scum of the scum",

I would suggest that the scum of the scum are represented in the HR and Senate, as they are largely "lawless lawyers".  The economy will not heal naturally.  The taxes and fees will draw out whatever surplus (used to be called PROFIT) that ever existed in a trade, service, or product.  The black market will replace the taxed market. 

Then there is the "dumbest of dumb" or whatever you call folks who vote themselves an entitlement.  They will surely be made to pay for their ignorance.

Wed, 12/26/2012 - 13:48 | Link to Comment AynRandFan
AynRandFan's picture

The bright side is, Gen Y doesn't want to work anyway.

Wed, 12/26/2012 - 13:55 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

Please feel free to do a GREP on my comments, and when I stated that Obama was going to force the GOP into total war over the budget, then ram through a $3 trillionish infrastructure package (roughly ~ a month or so ago). This is the playbook, and this is what is being touted. Democrats are already on board for this, and given China's data in the up coming months, plus APPL & AMZN "returning to the USA", with returning troops (2013/14), the GOP won't have the support to even complain about it.

The only real question is how much tiresome bitching and bad PR Congress is willing to go through to get there. Try this from the National Review [Republican / RINO bias], which just shows how hollow things are getting in the Cayman Islands. The only real question is the demographic that the workers will come from ~ State by State, the real dealing will be over which blue-collar section gets the contracts. Expect more than a couple of Republicans to seek to "make themselves appealing" to latino demographics by selling off those contracts. It's about the only way the GOP gets to exist by 2016.

 

Oh, and there's three Republican States that desperately need to address their ill-thought out "no illegal immigrant workers, zero tolerance" issues before next harvest, otherwise they'll bankrupt what remaining agriculture they have left after the various droughts continue. (Btw, John Corziolony was spotted recently, he's looking a little rough around the edges and hasn't worn a suit in a while). Hint: expect the "aquamarine" card, or strictly limited to one work sector Green cards.

 

And, yes, young jedi...

 

 

p.s.

 

It isn't called "Generation Y". Generation X -> Transitionals (born 1978-1982) -> Millennials (1982 >) (as in "Millennials Rising: The Next Great Generation (2000)"). It's the transitionals you need to watch out for, by the way ~ interesting bunch.

Wed, 12/26/2012 - 13:57 | Link to Comment thedrickster
thedrickster's picture

I'm a transitional.

Interesting bunch...how so?

Wed, 12/26/2012 - 14:01 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

How serious an answer do you want?

Options:

#1 Boxing Day Flippant & Funny

#2 Boxing Day Maudlin & Honest

#3 Boxing Day Abject & Cynical

 

Your choice!

 

p.s.

 

Source on that Fox News (and CNN) downturn on viewing figures, you got me mid edit.

Wed, 12/26/2012 - 14:10 | Link to Comment thedrickster
thedrickster's picture

#3

That PS wasn't intended for me.

Wed, 12/26/2012 - 14:52 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

#3 for 10. <gets another glass of wine for this>

Transitionals understand the internet, and came of age during its infancy [1995-2000], but also remember a time when mobile phones didn't really exist, full-spectrum advertising was still a bit shitty / sparse (and certainly not tailored to their personal desires), and social media was, at best if you were "edgy", myspace. Oh, and pr0n took a good 20 mins to load, especially with this noise attached to it. Socially, the drugs were also good in this period: specifically MDMA, but still 100% illegal; none of this oxycontin / ritalin / adderall pseudo-legal stuff: either you did it, broke the law, or didn't. Mummy wasn't there making sure the nice doctor wrote you a script for drugs: "Do, or do not, there is no try". There's a very definite split here between the transitionals and the millennials. Add to that - the last generation where "talking / hanging out" was not mediated by electronics, but with the advantage you could actually call a friend without your parents potentially listening in on the line.

Economically, those who were IT based made it large, as did the financial set, as the two forces got it on post-1980's crashes [and then made their own; dotcom 1.0 and so on], while the traditional job market that Gen X was sold on was still being touted as "the way forward". There's a large split in this demographic, falling between the "phew-just-made-the-last-gravy-train-outta-the-shit-hole" to "ye-Gods-I'm-the-last-sucker-in-this-game-and-I'll-never-make-the-pension-or-partner". The millennials are basically fucked in this, barring the tech"entrepreneurs" who are so self-deluded that they imagine that the FaceBook IPO was "value for money" and have their jargon making so far up their own arses that they need a bleach enema.

They're also the last generation where having children / a family was available as a serious option without a) serious cash or b) welfare. The X's bought into the whole hell-hole of middle/upper class over-protective "helicopter mother / kindergarten cop" issues, while the millennials [those that aren't merely breeding on the trailer park with cousins] are having major identity crisises, gender confusion and inability to parse sensible feminism. Large parts of the professional Transitionals are only just starting to have kids [29-35] and still wondering about it.

What is interesting about the transitionals is that they are also "pre" the acultural "irony" of the millennials: but they're also past the boring ~ism fetish of the X's and Boomers. I'd argue that the X's have largely fallen into the trap of "past it, resent it, gripe about the boomers" as they're too close to that problem, while the Millennials are so vapidly shallow that "hipster" and "re-inventing the wheel" are considered positive character traits. They're like small puppies, really: apart from the underlying net and real predator teeth we won't touch on here. Transitionals also have the ability to look backwards into a pre-Electronic life while appreciating the gains (and thus: have a comparison model, something the millennials lack ~ most of them were under 18 on 9/11 2001, so haven't even experienced the "old" America, pre-FEAR ON TERROR, FEAR, FEAR), and have some chance at decent economic and social capital; they're also reaching the age where (traditionally) they should be turning towards leading this crazy little place.

I should also add - the transitionals missed (largely) the entire "Cold War / M.A.D" fear zone that was used on the X's. If you're looking for something truely useful, that's a hint ~ a generation without a culturally spanning, all-encompassing fear that shaped their consciousness as they grew up.

 

There's more, but too much Turkey. Transitionals are about your only sane hope at this point; unless you think this is all bollocks, of course. Feel free to argue (politely; not fighting over Christmas, sorry)

Wed, 12/26/2012 - 14:53 | Link to Comment thedrickster
thedrickster's picture

Brilliant, you absolutely nailed it.

Not at all bullocks though I wonder if "past the boring ~ism fetish of the X's and Boomers" adaquately captures what I see as a thorough distrust/distaste for centralized, hierarchical systems. The transitionals never "bought-in", they are either playing the game knowing full well that it is rigged/finite in duration OR they are permanentely relegated to mom's basement.

Any recommended reading on "Transitionals"? My sense has been that there is something quite different about my world view as compared to that of my wife "X" and siblings, etc "Mills", your post has piqued my interest.

Wed, 12/26/2012 - 15:09 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

You mean analysis of Transitionals?

To my knowledge, doesn't really exist - most major works have skipped from Gen X > Millennials due to laziness and bad research. AKA, you just got primary data points, for free.

 

 

That's why you read ZH - original thinking (whatever the tone - there's a reason I use this as a reference to it. Neutral ground, with Papa Tyler enforcing the balance when needed ;) )

Wed, 12/26/2012 - 15:09 | Link to Comment thedrickster
thedrickster's picture

You added the Cold War/9-11 bit after I replied and it is absolutely right on. I never really knew the cold war and as an earlish' twenty-something, knew with certainity one Tuesday evening in September that the world I grew up in was fucked/finished/over.

Oddly it was Hunter S Thompson who echoed my sentiment the following day, "The lid is on. Loose lips sink ships. Don't say anything that might give aid to The Enemy".

Wed, 12/26/2012 - 15:15 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

There's also another HS Thompson quote I'm sure you're familiar with, post 9/11.

 

Something something fuckers...

"The towers are gone now, reduced to bloody rubble, along with all hopes for Peace in Our Time, in the United States or any other country. Make no mistake about it: We are At War now--with somebody--and we will stay At War with that mysterious Enemy for the rest of our lives...

It will be a Religious War, a sort of Christian Jihad, fueled by religious hatred and led by merciless fanatics on both sides. It will be guerilla warfare on a global scale, with no front lines and no identifiable enemy...

We are going to punish somebody for this attack, but just who or what will be blown to smithereens for it is hard to say. Maybe Afghanistan, maybe Pakistan or Iraq, or possibly all three at once...

This is going to be a very expensive war, and Victory is not guaranteed--for anyone, and certainly not for anyone as baffled as George W. Bush....He will declare a National Security Emergency and clamp down Hard on Everybody, no matter where they live or why. If the guilty won't hold up their hands and confess, he and the Generals will ferret them out by force."

 

GodSpeed Black Emporer of Truth, Drugs and the lizards in power [On Nixon - note: using the Atlantic to reference this is pure irony; scum-suckers who wouldn't have dared to utter a peep during the man's reign]

 

.

Wed, 12/26/2012 - 15:16 | Link to Comment thedrickster
thedrickster's picture

Printed from espn.com (oddly enough) on 9/12/2001. Now where DID that piece of paper end up.

Perhaps the Millenialls are onto something.....Print to PDF.

Wed, 12/26/2012 - 15:26 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

TrueCrypt USB drive.

Only the old get caught by the "kiddie porn on your computer" lie, and only the ignorant convict them.

 

Stay frosty, stay safe.

 

 

 

Be Seeing You.

Wed, 12/26/2012 - 17:16 | Link to Comment Angus McHugepenis
Angus McHugepenis's picture

TrueCrypt... my favorite bank for all things digital.

Wed, 12/26/2012 - 20:39 | Link to Comment Cleveland Steamer
Cleveland Steamer's picture

I am in that Millenial age group. Amazingly, your description does capture what is going on with a large section of people I know.

Thu, 12/27/2012 - 06:26 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

Well, there goes my ego. Damned by faint praise indeed.

 

Glad it struck a chord, anyhow.

Wed, 12/26/2012 - 13:59 | Link to Comment AynRandFan
AynRandFan's picture

"this" is not from the National Review but a snarky peevish article from New York Magazine.

The problem with the Republican Party isn't with their principles, its with the voting public.  A majority of Americans are now believers in socialism.  So, selling self-reliance isn't going well, and it won't until the government runs out of other people's money and credit.

Wed, 12/26/2012 - 14:55 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

Actually, look again. It is from the National Review, NY Mag is merely re-hosting it for snark. Look @ the author, and original publication. < Strikethrough >

 

[edit - might have dumped the wrong link on that claim. Leaving this up while I trace the original - so you might be correct]

 

+1 Greened - You're correct, I'll have to find the other piece I was referencing. It does exist though; the NY mag snark was supposed to be a secondary link to it. I disagree totally with your reading of the problems of the Republican party, but since you mentioned "Socialism" seriously when referencing Democrats, I'll pass.

 

Hint: JP Morgan EBTs are not socialism; they're a form of easy control, a la Huxley. Socialism is all about emancipation, remember? [Hint: Not Communism or Socialism but socialism, little "s". There's a major difference]

Wed, 12/26/2012 - 16:21 | Link to Comment Guy Fawkes Mulder
Thu, 12/27/2012 - 06:02 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

Ahh, now you've named and shamed me! Living up to your Avatar at least :) Large full moon last night as well.

It appears there was two miffed people running around junking every comment I made; wrong time of the year for such anger. Can't imagine why they'd be so angsty, perhaps the myth of howling at the moon is correct, eh?

 

I've linked this before, but I do love it. Wonder what those redactions were ~ descend replaced by "go down", or should we say "de-scens-us".

Wed, 12/26/2012 - 16:37 | Link to Comment RKDS
RKDS's picture

Ah, the principled Republican party, full of assholes who've been on the dole for decades and are either too stupid to realize it or too crooked to admit it...

Wed, 12/26/2012 - 18:07 | Link to Comment blunderdog
blunderdog's picture

Hey, let's be fair.  Some of them are just drunk.

Wed, 12/26/2012 - 14:04 | Link to Comment Ralph Spoilsport
Ralph Spoilsport's picture

"Please feel free to do a GREP on my comments..."

(Golf Clap)

Wed, 12/26/2012 - 13:51 | Link to Comment XtraBullish
XtraBullish's picture

Good! One less crop of shark lawyers trained to game the system, bends laws, and keep Corizine out of the slammer. No more BMW's and silver coke spoons to worry about, gang. Harvard Law gave us the current crop of dung-spewing legalese assholes sent out to subvert the rule of law so now the system cannot stuff any more of 'em into the cesspool pipeline.

Wed, 12/26/2012 - 15:56 | Link to Comment Angus McHugepenis
Angus McHugepenis's picture

XtraBullish: Please allow me to expand on your fine rant just a smidge.

"One less crop of DUMB lawyers"... fixed it.

Does anyone here who is in so much trouble that they truly need a lawyer really want to hire whats-her-name if she ever graduates from scum... er... law school? That would be like paying your executioner for the cost of the bullet.

Wed, 12/26/2012 - 13:51 | Link to Comment Cable Guy
Cable Guy's picture

The older generations got their news from the local newspaper and the nightly tv news.  It was so easy to control the masses!  This internet thing is really messing things up..... 

Wed, 12/26/2012 - 13:56 | Link to Comment virgilcaine
virgilcaine's picture

They chose to bailout the Banks, a Guvment work program would have been money better spent for these young people. Prepare accordingly.

Wed, 12/26/2012 - 13:55 | Link to Comment Angus McHugepenis
Angus McHugepenis's picture

    “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?”

That's a wake up sign right there! She is starting to "get it". Look around and notice a vast increase in simple Class "C" (21' to 24' long) camper vehicles or even the big "diesel pusher" models parked in industrial areas overnight. I used to see it back in 06/07 during the mega boom in Alberta for the simple reason that if you didn't bring your "house" with you, it would be impossible to try and rent a place. Now it's going the opposite way. People are starting to realize they can live just as comfortably in a house on wheels and they don't need all the space they thought they would during their brainwashed days of "bigger is better". No property taxes or other such nonsense. Just yearly license plate fees and insurance. And if you don't like the neighborhood you just drive away.

Wed, 12/26/2012 - 14:32 | Link to Comment zebrasquid
zebrasquid's picture

 

In my town, at the beach in So.Cal., they've passed recent new laws banning parking of RVs overnight on industrial roads, as the increased numbers

of beater Airstream vagabonds became apparent.

 

 

 

Wed, 12/26/2012 - 15:04 | Link to Comment Angus McHugepenis
Angus McHugepenis's picture

I hear ya. Bans made by politicians always work out well. /sarc

Here's an idea. Why don't all the new mobile "home owners" go park in the driveways of foreclosed homes? Hell, maybe they can go park in the same driveway of the home they used to "own" before they mailed their keys back to the bank. The cops can't do anything about it on private property, and there are vast tracts of subdivisions uncompleted that the cops don't have the time nor the resources to give a shit about. The risk of parking in industrial areas is that there are still business operating daily and you will get noticed if you stay for more than 2 days.

Wed, 12/26/2012 - 14:07 | Link to Comment Skip
Skip's picture

Something I NEVER see discussed in the national mainstream media is the effect of legal immigration on American workers especially white American workers.

Tech companies, Lewis said, “do not want to employ Americans. They import labor from overseas, pushing for H-1B visas. Check the job boards. They basically say, ‘H-1B Visa. Americans need not apply.’ ...Now white men are being forced to train their replacements.”

Asian workers now dominate Silicon Valley tech jobs, San Jose Mercury News, November 30, 2012

 

At 4:16PM Anonymous said:

Once the Hindu-Indians take over the whole IT department (Hindu only IT ghetto), the following series of events takes place-

1. Hindu-Indian programmers further divide into two groups (North Indian Hindus and South Indian Hindus). This dividing process takes in few weeks.

2. North Indian Hindu programmers further divide into five groups (Punjabis, Gujarathis, Marathis, Bengalis and the rest). This dividing process takes in few months.

3. At the same time, South Indian Hindu programmers further divide into four groups (Telugus, Tamilians, Kannadigas and Malayalis). This dividing process takes in few months.

4. Only one of the nine above mentioned sub-groups finally 'survives' and 'occupies' the whole IT department. This dividing process take at least a year.

5. Among the final group, each Hindu-Indian IT programmer tries to bring their spouse/sibling by eliminating other ones.

6. So, the left overs in this final Hindu-Indian programming group will be a couple of 'families' and 'extended families'. The cubicles will become their 'homes'.

Life of an I.T Grunt

 

Can A Country With A Million Legal Immigrants A Year Ever Afford GOP Tax Cuts?

American Job Displacement Continues In November—But Bernanke Plans To Suck In More Immigrants Anyway!


http://washtech.org/news/industry/display.php?ID_Content=5363

Another tech-worker, Diane Drozdowski, was forced out of her job at American Express in Phoenix, AZ. After her manager used "bully tactics and psychological warfare" to try to get her to quit, resulting in a mental breakdown, she was replaced by two Indian workers based in India. American Express flew these Indian workers to Phoenix and forced her to train them, upon threat of losing her severance pay.

Wed, 12/26/2012 - 18:14 | Link to Comment Guy Fawkes Mulder
Guy Fawkes Mulder's picture

Thank you for this fresh insight.

A lot of people need to get out of their comfort zones and be exposed to what all is going on in this massive globe in which we live.

And I thank "anonymous" people who work in higher levels of the media (this includes all of the internet) matrix for showing us these things from time to time, before they are persecuted on an individual basis.

Alice in Matrix-Land

Wed, 12/26/2012 - 17:20 | Link to Comment WillyGroper
WillyGroper's picture

Went thru it 9 times. Nothing says that you have to train them right.

Wed, 12/26/2012 - 13:58 | Link to Comment Joebloinvestor
Joebloinvestor's picture

It is called "paying your dues".

The price is just higher now.

Wed, 12/26/2012 - 14:06 | Link to Comment Radam
Radam's picture

Burn the land, boil the the sea

You can't take the sky from me 

Wed, 12/26/2012 - 14:11 | Link to Comment jplotinus
jplotinus's picture

" The public ed system in my locale is teaching personal responsibility and self reliance now. But Gen Y lost out on those formative years. It is going to take most of them their entire lives to figure it out and the Gen Z-ers will eat them for lunch."

Posts that merely serve to advance one political perspective as being superior to another are, in my opinion, myoptic, self serving and all but useless in terms of seeking solutions.

My suggestion is that if you want to engage in an exercise of claiming some political perspective is superior to all others, do the exercise on the basis of pumping up the political perspective you despise most and not the one that commands your allegiance.

Adherence to this stricture will likely greatly reduce political bs by a substantial margin around here.

Gen Y and Gen Z are victimized by societal changes that have eliminated jobs and not by whether they adhere to some stupid political persuasion or another, where all such persuasions are inherently limited, dismissive of other criteria that they don't see or don't accept.

No political point of view is going to advance social development by itself or in a vacuum of its own creation.

Stop blaming other political persuasions and stop boasting about your own. The need for social redevelopment is too great for dumb ass posturing.

Wed, 12/26/2012 - 14:21 | Link to Comment Slightly Insane
Slightly Insane's picture

To the Law school kid (Elizabeth H.) in the article;

  • "Your results may vary" - re. employment & pay scales
  • "You should have opened your eyes ... before pursuing a JD thinking that there are not enough lawyers already"
  • "If you represent your generation's "brain trust" .... then your generation is "screwed"!
  • In the "new economy", lawyers, bankers, government schleps, are unemployable, as we have enough parasites in the economy already.
  • Why would you bring suit against the "top law schools" for a "truth in advertizing, when such is not illegal?
  • I would suggest that you "wake the fuck up" and learn a new skill, as you have demonstrated that you are between stupid and an imbicile.
Wed, 12/26/2012 - 14:41 | Link to Comment Angus McHugepenis
Angus McHugepenis's picture

Slightly Insane: I agree with your analysis of Elizabeth. She should be embarrassed by such lack of insight especially since she wants to be a lawyer! Such is the life for people that pursue "paper pushing" jobs that create NOTHING except the opportunity to steal from real producers at the point of a gun (act, statute, bylaw, etc = paper).

Real skills and productivity will become much more valuable in the future. The lawyers, accountants, banksters, stock brokers, and various other wealth stealing scum bags that produce nothing will become the new beggars in the streets. It will take a few more years, but it will happen.

Wed, 12/26/2012 - 17:23 | Link to Comment WillyGroper
WillyGroper's picture

>>>>The lawyers, accountants, banksters, stock brokers, and various other wealth stealing scum bags that produce nothing will become the new beggars in the streets. 

I'd love to give them a free sample of my home made lye soap.

Wed, 12/26/2012 - 14:34 | Link to Comment shovelhead
shovelhead's picture

lI don't get it.

Who are all these people who grew up thinking that they had an automatic right to live better than their parents did?

Nobody ever promised me this mythological ascension to the Elysian Fields of unlimited bounty and if anyone suggested that it would be so would be met with a smile an a raised eyebrow.

What I did learn from my Dad who had been both employee and employer, was if you didn't like the hand you were dealt, then you better get good at dealing your own cards and you can do everything right and still get it wrong.

Working hard is fine...for the other guy. Learn how to work smart and you'll get to the same place much faster.

As having been both an employee and employer myself, I can verify this truthiness.

Also, another bon mot of note was that most guarantees are worth exactly what they are written on so the watchword on that topic was caveat empetor.

Pops was a pretty smart cookie in that observation when viewed in light of my 'contributions' to Social Security et al.

I can say I don't blame people for wanting to believe in pixies and unicorns and what all, but if they do, then they obviously haven't spent too much time looking around for them.

Wed, 12/26/2012 - 14:40 | Link to Comment CashIsTrash
CashIsTrash's picture

Living that Boss's Life

Wed, 12/26/2012 - 14:44 | Link to Comment CheapBastard
CheapBastard's picture

Globalization is slapping the next Western generation in the head. When an Asian (or African, etc) worker earn $1 a day in Asia for 12 hours work and a westerner is paid $65k per year for a 4 day work week, something has to give.

Wed, 12/26/2012 - 15:01 | Link to Comment Salon
Salon's picture

Let us pray for continued productivity increases high enough we meet in a comfortable middle when the world becomes flat

Wed, 12/26/2012 - 15:06 | Link to Comment Jam Akin
Jam Akin's picture

Yes.  Now the further up the development curve Asian's income is rapidly rising while many young white westerners are changing venue and plying their trade in China - some even handing out advertising leaflets on the Shanghai Metro - because it attracts attention to the handouts better there.  Meanwhile in the race to the bottom, low end manufacturing jobs are leaving China for SE Asian countries.  And the beat goes on...

Wed, 12/26/2012 - 16:02 | Link to Comment Angus McHugepenis
Angus McHugepenis's picture

Jam - You packed a lot of info into a short paragraph. I would be very interested to hear more about what you personally see on the ground in more detail. Not asking you to write a book, just curious...

Cheers

Wed, 12/26/2012 - 17:42 | Link to Comment Jam Akin
Jam Akin's picture

No problem Angus.  My take (from last trip in November - Southern China) is that the economy there is doing better than we hear in the western media.  Still plenty of construction cranes, activity at trade shows, etc.   Wages and benefits are escalating pretty fast in the cities and this is pushing manufacturers, especially of wage-rate-sensitive products, to relocate production outside the country.  Japanese firms are also thinking more about moving out to SE Asia due to the recent tensions in addition to the cost pressures.  

I have a number of (non-Asian) friends who have relocated to China, especially Shanghai area, and in their view it remains a land of opportunity relative to the west.

 

Wed, 12/26/2012 - 17:56 | Link to Comment Angus McHugepenis
Angus McHugepenis's picture

Thanks Jam. All the best in the new year.

Wed, 12/26/2012 - 18:06 | Link to Comment Jam Akin
Jam Akin's picture

Same to you and yours Angus.

Wed, 12/26/2012 - 18:15 | Link to Comment Angus McHugepenis
Angus McHugepenis's picture

Jam - I just noticed you're about 3 days away from your ZH 1 year birthday. I'll spark up a "candle" in your honour right now just in case I miss doing so on the actual date.

Cheers (pppffffftttt.... exhale).

Wed, 12/26/2012 - 23:06 | Link to Comment Jam Akin
Jam Akin's picture

+1

Wed, 12/26/2012 - 17:04 | Link to Comment Shizzmoney
Shizzmoney's picture

And pay is going up in China, up 14% over 2 years (I know because my company who buys and resells shit from there, their costs are going up from Chinese vendors)......and that's the reason why China wants the USD to be weak. 

In a sense, it's a barter.  China buys Treasuries from US (at a special rate), and in return, the Fed makes the USD weak so China's corporations won't feel the unrest from the meager wages they give to their workers.  US Corporations buy the cheap shit, cut US workers' pay, Execs rake in the difference.

rinse/wash/repeat.

Wed, 12/26/2012 - 16:45 | Link to Comment RKDS
RKDS's picture

Ugh, I can't decide whether to upvote or downvote.  On the one hand, globalization is slapping the West upside the head.  On the other hand, $65K and a 4-day work week is a fantasy/lie most likely borne from the mush-filled skull of some entitled executard who's never driven his own motorcar to the food store for some ring-shaped pastries...

Wed, 12/26/2012 - 14:55 | Link to Comment Salon
Salon's picture

Wow.

Some great comments from all perspectives.

I love fight club

Wed, 12/26/2012 - 14:56 | Link to Comment Zenseless
Zenseless's picture

Quite amusing to see the law student suing the law school - the sense of entitlement is staggering.  Like watching a piranha eating its young.

Wed, 12/26/2012 - 15:02 | Link to Comment Salon
Salon's picture

Its a clear case of fraud and deceptive trade practices.

Wed, 12/26/2012 - 22:44 | Link to Comment GMadScientist
GMadScientist's picture

It's a clear case of rich kids not doing their homework.

Wed, 12/26/2012 - 14:59 | Link to Comment Salon
Salon's picture

.

Wed, 12/26/2012 - 15:06 | Link to Comment acaciapuffin
acaciapuffin's picture

WIth the manipulation of the market prices of items and wages are way out of poportion, that is one of the biggest issues that needs to be addressed. 40k used to be a respectable salary now in 2012 it is the hovering at poverty levels.

Wed, 12/26/2012 - 15:15 | Link to Comment AnAnonymous
AnAnonymous's picture

A shortage of Indians, a shortage of Indians...

Bah, aint gen Y supposed to be the artistic type?

With 'americans',art is speculative assets.

With gen Y at the wheel, a lot of bubbles to inflate...

Wed, 12/26/2012 - 19:24 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

With gen AnAnon at the wheel, a lot of rubbish to propagandate...

Wed, 12/26/2012 - 19:30 | Link to Comment akak
akak's picture

It's funny also how he always, and only, manages to post at the tail-end of every thread.

AnAnnoyingUs, the official ZeroHedge dingleberry.

Wed, 12/26/2012 - 16:05 | Link to Comment kumquatsunite
kumquatsunite's picture

Top ten Problems with America's Attitude:

1. Immigration...exactly why does a country facing water shortages, and with 1 in 6 people on food stamps need ANY immigrants? Do we not believe we owe our own jobs before they are given to foreigners? Does anyone in the American government speak English as their native language (Hint: Immigrants are funneled into government jobs so that you don't see them competing with you for jobs...Or they are given no interest loans you cannot attain in order to buy the local corner store and overcharge you for twinkies, ooops, I mean, overcharge you for carbonated sugar water. And of course, it is not just the immigrants, it is the wet birth certificates used by immigrants for "family reunification" immigration, which more than doubles the actual immigration rate each year. Add to this ILLEGAL immigration, and you can see why white people are pandering (see: Republicans) to every non-white that yells (gasp, can one say anything nice about the minority caucasian group or as one comic says, "Why is their a holiday called Caucasizswana?")

2. We have become a ridiculous "give back" nation. If you are not Warren Buffet or Bill Gates, you do not have enough to brag about "giving back", or to believe you should/would/can "give back." All I want for Christmas next year is an end to the deluge of pleading "give back" commercials, which entreat me to "give back" to those who receive, among other freebies: housing subsidies, free phones, food stamps, free medical, free energy payments (check with your local electric company), and who then show up at every church or "giving" organization for their free presents for their kids and assorted free free free. Maybe the Salvation Army is worth giving to, but it may be the ONLY one that actually uses the funds, et al, for people and not overhead and those wonderful xmas parties the "give back" organizations have to pat themselves on the back.

3. When a friend of mine (back in the day!) had a baby and requested welfare services, she was Required to prove (ongoing) that she was not living with a man and was not being subsidized by "hidden" money from a man. If we can provide gay couples access to services via their jobs and such, should not the men who have babies thinking they are off the hook because govt is Daddy, be required to place these children on their health care plans and have their pay and any/all income counted and be garnished for the costs of welfare. Watching Jerry Springer's parade of fathers leaving sperm, like crumbs of genetic heritage, in their wake as they move on, is the greatest disgrace this country has ever experienced. Please. Do not speak of caring for our children while children without futures are birthed and uncared for by their own parents. Govt is not spelled D-A-D-D-Y.

4. The slop of sex served up in contemporary movies in which their is a complete disregard for the relationship or relationship Before the sex is a fundamental moral scoring of our children's souls. If as an adult, you wish to degrade yourself with movies such as Friends with Benefits, the Constitution provides that right. If you wish to watch tv, such as Two and A Half Men, which pornified the tv prime time comedy before and beyond all others, that is your Constitutional right. However, these materials should be kept from our children. If you wish to delude yourself into believing that children should be sexified via television and movies, slimed with your slop sex...commit your soul to hell where it belongs. (ah! An accusation of non-relativism. What could I possibly say next?)

5. The legalization of marijuana is no more than the Next ponzi scheme selling the futures of our children to states that (at their best) are communist and have sold themselves to foreigners. E.g., Washington State now belongs to China; Gov Christine Gregpig of Washington State conspired with the liberals to sell apples to Asia and in return swamped the state with Asians, who the local news channel found, were fradulently trading in food stamps for 50% cash on the dollar to the tune of millions of dollars. Certainly Colorado and Oregon are not far behind Washington State in deciding that the fogging of our children's brains, while they are still too young to understand that the adults-in-the-room are more than willing to sell them into a drug-induced fog of potato chips and laughing like hyenas at the current filth called "movies," is simply the so-called adults having decided that unlike any generation before them, they will indulge in any/all proclivities and to heck with the youngsters. Legalizing "pot" and maintaining that is less than alcohol is ridiculous. Pot instantaneously alters the consciousness; alcohol generally takes several drinks to have an effect and is out of the system the next day (for all practical purposes). Pot...as drug tests show...tends to hang around for months, and builds up in the brain and the lungs. How many days before your pilot flies your plane do you want him to abstain from pot? But, of course, Hollywood whores have made pot into one giant running joke....ha ha ha...it is just so funny that they all smoke pot in the movies and act like fools but we are to PROMOTE this as legal. Fer gawd's sakes has this country gone completely mad?

6. Tattooes. I will no longer allow myself to be served food by those who are tattooed, which means I do a lot of cooking. Thanks but your tattooes tell me that you are an idiot. Did you change your shirt last week? Did you think those tattooes would be attractive a year later? Those giant holes in your ear? In your tongue? Elsewhere? (ugh!) Odd isn't it that everything those who were FREAKS once did to themselves to show themselves as Freaks, we have sold to our children as something to make money off of. Once parents held a line and held it firmly knowing that "children" don't actually grow a thinking brain until around 25 because one needs Experience to make good decisions and not just swallow the trash served up. Of course, it's all trash now. Parents no longer feel the responsibility of saying: these are the rules; these are my rules, and they aren't changing. Period.

7. Why do our presidents associate with rappers whose lyrics denigrate all that we once held as anti-social and degenerate? Can we not expect that Jay-Z who has sold our children filth should be banned from association with OUR president? Should we not expect that the White House be a PORN free zone? If you use filthy language, take off your clothes in the movies, slime around in the gutter filth of slop sex, do not walk through the front door of the White House. Have our Presidents no pride, no respect for our youth. Do we hold, if we hold nothing else sacred, the right of our children to be free to grow up without having the excrement filth of rap sewage and hollywood movies spewed upon them? Please, do not say we care about our children when we sell them into sexual and violent fiefdoms' so that the "Constitution" can be upheld. It is not the right of the filth purveyors to sell to the young: the Constitution requires one be equal enough to Know what is being done to one, or be protected from it such that one may Make a choice. What must our children think of us?

8. Teachers...what a joke. If your child is in a public school and does not know how to read, write and do rithmetic at age appropriate, why is their not a giant army of attorneys filing lawsuits on their behalf. The school system is not a holding tank to 18 (or until they can say you "moved" or dropped out; "moving" a favorite way to get kids off the roles and improve the stats). The scholastic system is nothing more than a twenty-year and out system for the worst, most ludicrous, most ignorant group in the United States. Taught primarily pedagogy at the collegiate level; teachers show up, move the kids to the next teacher, and count the days to retirement. If it is the law that children go to school, it is also that law that they actually be Taught and Educated. If your child has not been taught and has not been educated, sue the school system. If they have dropped out, sue the school system. Every single citizen of the United States is Entitled to an education. Without it, they fail all of life. Demand your children's rights. Any child passed along has been fraudlently denied their Constitutional right to an education. And ask yourself why your child is always sick? Becauseeeeee the school systems are not turning the heat on until after the kids show up at school and then keep it so low the kids are never warm. Try to learn while you are freezing. But keep upping the pay of the teachers and let the kids have icicles on their noses. No government employees should be allowed to have unions. Unions are for the sector that is NOT government. Government employees, all of them, work for us and have no right to form a group against us. That is the law. We hold their employment at will. Government serves the people. Cut all their pay in half and hold an act of fraud the self-awarded govt paychecks and benefits, and therefore voided as fraud.

9. Oh about that welfare...did you know you do not have to prove whether you are married or not. Many who receive food stamps just Say they are not married or not living with someone. If one took the fraud out of the food stamp program, it would be ten percent or less of what it is today.

10. Finally, and sorry this has been long, but at what point do we save our country and save our children? At what point do we place a closed fist in the face of the purveyors of filth, degradation, and slop sex? At what point do we protect our children's souls and brains so they have a true chance at life? And if we do not, do we not burn in hell for abstaining from that fight? Jay-Z, 50 Cent, and on and on and on...they are pimps and your children their whores. Is this what you accept?

in 2013, save your children's souls. Send the pimps to hell where they belong.

Wed, 12/26/2012 - 16:35 | Link to Comment blunderdog
blunderdog's picture

You're old, ain't ya?

Wed, 12/26/2012 - 21:01 | Link to Comment Guy Fawkes Mulder
Guy Fawkes Mulder's picture

I guess we touch different parts of the elephant.
http://en.wikipedia.org/wiki/Blind_men_and_an_elephant

+1 "for effort" awarded by the tyrant of this corner of ZH for the day -me

Wed, 12/26/2012 - 16:50 | Link to Comment QQQBall
QQQBall's picture

The law school graduate's education is about to begin. The Law School will drag this out and grind him into the ground.  Even if he eventually wins, he loses....

Wed, 12/26/2012 - 16:51 | Link to Comment bugs_
bugs_'s picture

And you - are also an asset of the State.

Wed, 12/26/2012 - 18:51 | Link to Comment Nu Yawks hottes...
Nu Yawks hottest club is's picture

Would this phenomenon be due to the fact the demographic in question is more likely to be competing with more people (from more nations) for fewer jobs, than ever before ?

Wed, 12/26/2012 - 20:53 | Link to Comment Guy Fawkes Mulder
Guy Fawkes Mulder's picture

Who is using "the last" panopticon?
open question
[/thread]

Wed, 12/26/2012 - 22:38 | Link to Comment dolph9
dolph9's picture

It's about time Gen Y got their heads out of the iPhones and video games and porn and find out for themselves how fucked they are.

We Gen X'rs found this out a long time ago, and we didn't have the internet, and we were being propagandized daily by the TV and we still figured it out.

Although to be fair, the internet made us realize we are fucked even more than we thought.

Thu, 12/27/2012 - 01:56 | Link to Comment MyKillK
MyKillK's picture

All my Gen-Y friends are working the exact same jobs that they started 4,5,6,7+ years ago. No promotions, hardly any raises. There is nowhere to go. The baby boomers aren't retiring leaving nowhere for the Gen-X people to move up, which then leaves the Gen-Y people with nowhere up to go either.

 

It sucks balls working entry level jobs with 6 years of experience. This generation is lost. By the time the economy improves the generation after us will be the ones on the fast track and we'll be stuck running in place.

Thu, 12/27/2012 - 10:47 | Link to Comment Darth Hayek
Darth Hayek's picture

Heh.  Five gets you ten half those tards listened to the folks in their schools about "sticking it to the man", never realizing how complicit those teachers and professors were in the whole thing.  They probably went with all the trendy political causes that distracted them from the true cost of their choices and voted for the face-men from either party that promised Change, but delivered Chains.

Ironically, the truth was ever before them, but the truth is hard, don'cha know...so they took the path of least resistance, never followed facts of any persistence, and now will be reduced to subsistence.

I leave you with this...who is most at fault for what we have:  The banksters, who consistently acted in their own best interests...or those they continually buy and sell, who consistently did not?

Vote me up, vote me down, either way, see ya 'round...

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