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Millennials Devastated As American Dream Becomes Nightmare For Most

Tyler Durden's picture




 

"It seems to me that if you went to college and took on student debt, there used to be greater assurance that you could pay it off with a good job," sums up one 'millennial', adding - sadly - "but now, for people living in this economy and in our age group, it's a rough deal." As WSJ reports, only about a third of adults in their early 20s works full-time - the lowest rate in 40 years - as the combination of structural changes and this recession "is devastating for millennial." Despite think-tanks demanding more of employers in terms of workplace rules and minimum wages, the reality is workers are expected to do more for less and be grateful - "this is a huge problem when think of where demand is going."

 

The young are earnings less and less relative to the average earnings in the US...

as the younger generation's participation in the labor force fell more than 3 times as fast in the "lost decade" as in the previous two decades...

 

 

Summing it all up - where the priority is:

 

 

Via WSJ,

The on-ramp to adulthood is delayed and harder to reach for young people today, a reality that is changing the country's society and economy, according to a new report.

 

More demanding job requirements, coupled with the pressures of the recession, have delayed the transition to adulthood for young people in the past decade and earned them the title of "the new lost generation," according to the report from the Georgetown University Center on Education and the Workforce, published Monday.

 

...

 

"It seems to me that if you went to college and took on student debt, there used to be greater assurance that you could pay it off with a good job," said the Colorado native, who majored in English before dropping out. "But now, for people living in this economy and in our age group, it's a rough deal."

 

...

 

Through analyzing about three decades of census data—from 1980 to 2012—the study found that on average, young workers are now 30 years old when they first earn a median-wage income of about $42,000, a marker of financial independence, up from 26 years old in 1980.

 

About a third of adults in their early 20s work full time, a proportion that rises to about half of adults in their late 20s. The labor-force participation rate for young people last year declined to its lowest point in about 40 years, according to the report.

 

...

 

In recent decades, the U.S. has seen a gradual outward shift in people's professional lives: Americans today tend to start work later and continue working longer than in past generations. A decade ago, a boy in his late teens was twice as likely as a man his grandfather's age to hold a job; today, the teen is actually less likely to be working.

 

...

 

"The combination of structural change plus this particular recession has been devastating for millennials," ... "It has really knocked them back, and some of these losses are permanent."

 

...

 

"The millennial generation was the generation to confront this structural change first," said Mr. Carnevale. "It has sorted them out in ways that have made them more unequal than any generation before. For those who didn't get the traction [for a job], it's not clear that they will get the traction."

 

And the full report is below:

Workforce 092913

 

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Tue, 10/01/2013 - 19:09 | 4011950 ghostfaceinvestah
ghostfaceinvestah's picture

Unless you are a millenial working for Goldman Sachs, then life is good.

Tue, 10/01/2013 - 19:14 | 4011969 prains
prains's picture

....until they make you drink the blood of a virgin, then you have to make a choice

Tue, 10/01/2013 - 19:15 | 4011979 LetThemEatRand
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To that set, the only real choice is chilled or body temperature.  The future executives go for body temperature.

Tue, 10/01/2013 - 19:16 | 4011991 prains
prains's picture

directly from the source, then they know it's a possible CEO-in-the-making

Tue, 10/01/2013 - 19:46 | 4012097 Jack's Digestib...
Jack's Digestible Ideas's picture

401K: Cancelled. Retirement: Cancelled; we're going to work until we're dead.

 

At this point, I sincerely hope that generational genocide isn't in the cards, but, speaking as somebody in the generational trenches, wouldn't this be the easiest solution?

Tue, 10/01/2013 - 20:26 | 4012265 Seize Mars
Seize Mars's picture

Jack's
...so now you understand World War I.

Tue, 10/01/2013 - 21:55 | 4012567 Muppet Pimp
Muppet Pimp's picture

It is now time to start considering sending the family dog out to help earn his (or her) keep.  For the better part of a century now the humans have been going out and putting beans on the table for the hounds, while they sit back and live a life of luxury, with free food, free room and board, free obamaphone, and free healthcare.  Their productivity has gone way downhill, and their unemployment rate is almost as bad as that of young black males.  They have been on the same regimen that Barackl Obama has prescribed for his people, and frankly I am afraid they may end up in the same boat.  The biggest difference I see is the hounds are less prone to engaging in criminal acts, but it is certainly on the rise.  While we have not seen many new calls for human segregation or banning blacks from certain areas, there are major campaigns underway to ban certain dog breeds, for their propensity for violence.  So, basically the time has come an I would be in support of a Civil Service program to be funded by Obama and Bernanke to provide jobs for our hounds and get them out of this rut of unemployment and general lethargy they have come to find themselves in.

Tue, 10/01/2013 - 22:03 | 4012596 TwoShortPlanks
TwoShortPlanks's picture

Did someone say "Gen-Y"...those fucktards couldn't pull the skin of custard

Gold will rebalance the sum of all Fiat expansion

http://twoshortplanksunplugged.blogspot.com.au/2013/10/gold-will-rebalance-sum-of-all-fiat.html

Tue, 10/01/2013 - 23:20 | 4012840 fourchan
fourchan's picture

“Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked, ‘Account overdrawn.’

 

a.rand the origional zh'er

Tue, 10/01/2013 - 22:20 | 4012668 merizobeach
merizobeach's picture

Dear young people, it's not the shittiness of the economy that is the reason your prospects are hopeless; rather, it's because of your flagrant stupidity and abject worthlessness as a labor pool.  Learn from your parents: fatten up and get on permanent disability--that's the only way you'll have a reliable income.  Just kidding, that won't be reliable, either.  Let's face it: your only real prospect in life is to be one of the zombies of the apocalypse.  But go ahead and blame your parents because--no sarc--it is definitely their defective DNA that resulted in your miserable condition.

Wed, 10/02/2013 - 12:29 | 4014180 TheRedScourge
TheRedScourge's picture

Was a whole generation born that way by chance or by some sort of DNA issue, keeping in mind that their parents' generation had the best access to healthy food and scientific knowledge of health of all time? Unlikely.

Maybe it is something else. Perhaps the education system is what failed to make them anything but stupid?

Thu, 10/03/2013 - 03:26 | 4017533 merizobeach
merizobeach's picture

I agree completely that the education system is a shambles and horrifically counterproductive.  That said, fucking morons still do not have genius parents, my friend.

Tue, 10/01/2013 - 20:51 | 4012368 Caviar Emptor
Caviar Emptor's picture

Actually, if we just made Soylent Green out of the excess, then we could live stress free for a while.

Tue, 10/01/2013 - 21:49 | 4012556 SpykerSpeed
SpykerSpeed's picture

Speaking as a millenial, I don't think we're going to take very good care of our parents in their old age.  Many of them really don't deserve it.

Tue, 10/01/2013 - 21:57 | 4012574 knukles
knukles's picture

The only ones you should be worrying about are your very own two.
'S between them, you and your God.
Tread very carefully.
Most parents did the best they could at the time.
In many cases was downright fucking wrong or bad...
But few of 'em woke up in the morning and said to themselves "Gee, I wonder how I can fuck over the kids today?"

Tue, 10/01/2013 - 22:16 | 4012651 SpykerSpeed
SpykerSpeed's picture

They weren't thinking about fucking over their kids.  They were thinking about themselves.  The baby boomers will not enjoy Social Security or Medicare in their old age, because the Millenials will refuse to pay for it.

Tue, 10/01/2013 - 22:45 | 4012737 Diogenes
Diogenes's picture

The boomers contributed to Social Security, Medicare, pensions etc for the last 40 years. All those programs were fully paid for until the banksters and the government stole the money.

Now their media lap dogs have convinced you to throw Granny under the bus.

Smart move Opie. Now the boomer have to keep working till they are 90 and you are never going to get a job.

By the way if they can skin your parents and grandparents, with your help, what do you think they are going to do to you?

I took care of my parents, they took care of their parents, and so on as far back as anyone remembers.

Who is going to take care of you?

Tue, 10/01/2013 - 23:34 | 4012884 TwoShortPlanks
TwoShortPlanks's picture

"Who is going to take care of you?"....they will take care of each other, but not in a nice way. Gen-Y are mostly divided in good times, in bad times....Zombieland.

Speaking of Zombies, Gen-Y's morbid fascination with apocalyptical endings (subconsciously derived by never having to go through any hardship in their lives so far, thus no fear of hardship) may well be lived out in reality.

Got Gold?

Wed, 10/02/2013 - 01:39 | 4013030 Confused
Confused's picture

The morbid fascination is hardly unique to Gen-Y. 

 

Literature is littered with this stuff going back to the bible. And with my limited knowledge of all that has been written, I would imagine even further. 

Wed, 10/02/2013 - 05:33 | 4013135 TwoShortPlanks
TwoShortPlanks's picture

Kill-Joy!

Wed, 10/02/2013 - 00:50 | 4012991 oddball
oddball's picture

At what point did the bankers and government steal the money? 

Five years ago, 10, 20, 40, 100 years ago?  

What did the boomers do about the theft?

 

Wed, 10/02/2013 - 01:51 | 4013037 Confused
Confused's picture

Its slightly amusing to see all the intelligent people here arguing this topic. This is part of a divide and conquer strategy. Certainly not many boomers did something about theft. But information was not as readily available as today. Couple that with the severe decline in the fabric of society, which brings us to the current situation. 

There were people decades ago claiming that the CIA/FBI were selling drugs/weapons to cartels outside the US. People laughed and called them crazy. Obviously this has since proven to be true. This alone proves that there WERE people in that age group standing up against the system. Of course there are other examples. 

Of course there are a number of unintended consequences to all this. Parents not wanting their kids to wash dishes, or mow lawns, as it might be beneath them. This allows other elements to fill those jobs. And so on. But for anyone from any generation to blame the other is futile. 

Escpecially boomers calling the new generation lazy and useless. Times are not that different. We could talk about how today people are obsessed with pop-culture. But this is hardly new. Elvis, The Beatles, The Stones, and retarded hollywood movies from those times, all served the same purpose. The difference now is the internet. So now we have more people obsessed with pop-culture, but we also have more people railing against the system. Only less people are now calling them crazy. 

We are all in the same boat. 

Wed, 10/02/2013 - 01:07 | 4013010 AGuy
AGuy's picture

"The boomers contributed to Social Security, Medicare, pensions etc for the last 40 years. All those programs were fully paid for until the banksters and the government stole the money."

Not really. if you go to the Treasury site the intragov't bonds (Payroll tax debt) is only about 4 Trillion. Over the past 40 years Boomers (plus Gen X workers) only contributed 4 Trillion. The liabilities to pay for Boomer retirment is 10 times that amount. The boomers haven't even managed to save a down payment (ie 20%) of there entitlements. Like everyone else, boomers were gullable and believed that the politicians would make good on there promises that got them elected. And from the 1960s, 70's and 80's It was the boomers that voted these carpetbaggers into office. They have no one to blame but themselves. Should have opted out of Gov't retirement and used it to save for their own retirement instead!

"Who is going to take care of you?"

There is a master plan to euthanize the population when the collapse unfolds. The title of the plan is "World War 3".

 

Tue, 10/01/2013 - 23:05 | 4012764 TwoShortPlanks
TwoShortPlanks's picture

It's not that "Millenials will refuse to pay for it", it's that Gen-Y won't have any money to pay for anything after upgrading to iPhone5xyz and buying Grand Theft Auto15...and whatever else they spend their money on to feel special and important (Tattoos and shit). Gen-Y are broke, and will always be broke. Gen-Z, on the other hand, aren't fucktards, they're quite savvy. My money's on Gen-Z.

“Failure to Launch” is merely a visible symptom of a multitude of disorders which afflict Gen-Y…which, statistically, point to being the sickest generation to walk the face of the Earth since the days of the Bubonic Plague.

So there's poverty, sickness and saggy tattoos to look forward to.

Wed, 10/02/2013 - 00:16 | 4012956 Bobbyrib
Bobbyrib's picture

"The baby boomers will not enjoy Social Security or Medicare in their old age, because the Millenials will refuse to pay for it."

The baby boomers will not enjoy Social Security or Medicare in their old age, because the country can't afford it. -Fixed.

Wed, 10/02/2013 - 00:59 | 4012997 AGuy
AGuy's picture

"The baby boomers will not enjoy Social Security or Medicare in their old age, because the Millenials will refuse to pay for it."

Not really, The Fed will print to pay for the entitlements, but it will be worthless as the dollar collapses.

Wed, 10/02/2013 - 02:04 | 4013044 Freddie
Freddie's picture

No!  Obama said you are gonna pay for my Soc Security.  He promised along with Harry Reid and Pelosi.

Wed, 10/02/2013 - 07:42 | 4013232 kralizec
kralizec's picture

These posts are always hilarious, like poor downtrodden Millenials have it so darn bad!  Every generation since 1913 has been on a countdown to extinction...this libiot mindset that my suffering is oh so much more noble than __________ shit grows old.  People need to learn to be responsible for themselves first and foremost (yes, think of yourself more!) and stop worrying over who got fucked over the most.  WE ALL GOT FUCKED OVER, SO GET OVER IT!

Tue, 10/01/2013 - 22:07 | 4012605 TwoShortPlanks
TwoShortPlanks's picture

So move out already and stop bleeding them dry!...a generalisation I know, but true nonetheless.

Tue, 10/01/2013 - 19:46 | 4012098 NoDebt
NoDebt's picture

Look, I'm gonna lay out real quick how this shit works, for those who haven't figured it out yet:

We are in a depression.  Additionally, labor and skills are cost-arbitraged globally now.  This means the end of those millions of nice, safe, high-paying middle class jobs we're all so fond of.  That world is gone.  Those who are older are maintaining their positions because they still have some influence and can do so.  But they are the last.

ALL NEW LABOR ENTERING THE MARKET IS REPRICED AT GLOBAL RATES.  This means young people, by and large.  Or those older workers who find themselves summariliy dismissed from their previous career and trying to start over.  

This bodes very badly for our nation's economy moving forward since those young 'uns aren't ever going to catch up.  They won't be able to buy what their parents did.  They aren't going to be able to pay as much in taxes to fund the bloated government as their parents did.  

This is everywhere in the developed world.  This is not just a US phenomenon.  THIS IS THE STRUCTURAL UNDERPINNING OF WHY OUR ECONOMY IS NOT GOING NOWHERE FOR THE FORSEEABLE FUTURE (I'm talking probably several generations).

Where this leads:  Small number of rich.  Large number of poor.  Just enough middle class to service the rich.  Same as it has been in most societies throughout most human history.  Giant reversion to the mean.

Tue, 10/01/2013 - 19:56 | 4012141 LetThemEatRand
LetThemEatRand's picture

Dead on.  Neo-feudalism.

 

Tue, 10/01/2013 - 20:15 | 4012214 ElvisDog
ElvisDog's picture

You know, feudalism isn't so bad as long as you are either a noble or someone who directly works for a noble. Sign me up to be a squire or something.

Tue, 10/01/2013 - 20:47 | 4012339 Caviar Emptor
Caviar Emptor's picture

More likely you would be a chauffeur, valet or stable hand. Only the very top achievers get to be butlers, cooks or personal Ahem assistants.

Tue, 10/01/2013 - 21:25 | 4012490 booboo
booboo's picture

"BRING ME THE ROYAL COCK SUCKER!!!"

Tue, 10/01/2013 - 22:50 | 4012760 fourchan
fourchan's picture

goldmans personal ball washer.

Tue, 10/01/2013 - 21:44 | 4012543 autofixer
autofixer's picture

I want to be the Shireef.  I have studied the Fed & feel that I am qualified to steal from the serfs and give to the nobels; minus my cut of course.  

Wed, 10/02/2013 - 10:20 | 4013573 Chaos_Theory
Chaos_Theory's picture

Problem with that is never before has the gilded lifestyle been so open to the serfs to see.  For now, with the fantasy that we can get there too, it leads to pop culture reality TV, fashion trends and fads, gadget fads and debt-fueled lifestyle emulation.  Once all that becomes unaffordable as we're left with just enough to fund our meager Dystopian reality (bye bye Igadgets), will the SS be able to keep the serfs from turning into zombie hordes pouring over the walls and literally eating the lords (instead of walking city streets staring at Facebook BS on their IPhone)? 

My money is on the Zombies.  Not enough kibbles and bits to keep them fat and happy after giving them the illusion of the good slacker life for so long.

 

Tue, 10/01/2013 - 20:03 | 4012167 CheapBastard
CheapBastard's picture

My Boss loves to hire a Yute with lots of debt (student loans, brand new zero down $600,000 mortage and a few kids) since he knows they are desperate and will work harder, stay later and be scared stiff of being fired.

The problem can be solved if people and esp Yutes refuted getting into debt. Pay cash and save. Yes, 0.01% savings return sucks, but $400,000 to $800,000 debt (house, kids future, student loans, cars, etc) sucks alot more.

Tue, 10/01/2013 - 20:17 | 4012217 Alethian
Alethian's picture

A middle class is only possible in a free society, whether that society is national or global. Our reversion in the West to an unfree society has destroyed the conditions necessary for maintaining and expanding a middle class. Globally, an expansion has been occurring, though the trend has perhaps been stalled by the Western Depression of the last 5 years. Crucially, insofar as the West has become radically unfree and the rest of the world is only moving in the direction of greater freedom, the global mean in the world market is one of less freedom than during previous decades. The virtual embargo of the communist nations (Russia, China, India) locked out the lack of freedom found there from the global marketplace during the 20th century. Their troubles were contained. That is no longer true.

In short, we're fucked. 

Tue, 10/01/2013 - 22:33 | 4012702 Talleyrand
Talleyrand's picture

Then there's that $100 oil.

Tue, 10/01/2013 - 20:41 | 4012317 Buck Johnson
Buck Johnson's picture

I totally agree with you, we are going to see this get worse and when it implodes it will take decades for the country to get back and they won't be back as one country.  Most likely broke up into 5 sections/countries.

Tue, 10/01/2013 - 20:51 | 4012358 Caviar Emptor
Caviar Emptor's picture

...or more likely broken up into feudal territories that pay tribute to the great leader in Washington. Your livelihood and safety will fully depend on your local lord and your family's relationship to him.

Tue, 10/01/2013 - 21:39 | 4012524 fonzannoon
fonzannoon's picture

If that is the case I am going Deniro's route in godfather 2 and taking out the local lord.

Wed, 10/02/2013 - 02:20 | 4013048 Freddie
Freddie's picture

Don Fannucci

http://www.youtube.com/watch?v=Ldxd40VOxFY

Francis is a real director genius and not an ego maniac like that douchebag who started with him Lucas or the rest of the current vermin in Hollywood.   Apoc was even better than Godfather as was The Conversation.

Tue, 10/01/2013 - 22:05 | 4012608 sethstorm
sethstorm's picture

Safe to say that such division will be quite unlikely.  On the other hand, it is more likely that the ones that try to secede will be "written off" from existence. 

Tue, 10/01/2013 - 20:53 | 4012372 Quantum Nucleonics
Quantum Nucleonics's picture

It doesn't help that so many "millennials" got suckered into liberal arts majors that have no real value outside the cloistered walls of college.  America needed doctors, electrical engineers, and computer scientists... not yet another 17th century French poetry/ethno-anthropology double major grad. (with $200K in student loans)

Tue, 10/01/2013 - 21:16 | 4012450 CrashisOptimistic
CrashisOptimistic's picture

 

Your layout of that is solid.  I would add two items.

Automation is a word that suggests things deceptively.  Meaning simply this.  IQ matters.  I don't care about nature or nurture stuff.  Just flat out recognize that if a computerized read of a toll radio signal from each car crossing a bridge is how tolls will be collected, then the 45 yr old ladies who used to collect those tolls are not going to become radio engineers who design and build the gizmo that replaced them.  Their jobs are gone.  They aren't going to have jobs relevant at all to the jobs that disappeared.  All such jobs will automate and 45 yr old toll collectors aren't going to be retrained to be radio engineers.  IQ matters.  1/2 the population is under 100 and they are not going to have jobs.  Period.  Plan to carry them.  They will be a burden.

Oil.  You start talking about something "not coming back for generations", you can just reword that as never.  Net joules/Oil scarcity is not going to permit anything to go back to how it was.  That world is indeed gone.

But the F word is in play.  Forever.

Tue, 10/01/2013 - 22:18 | 4012658 sethstorm
sethstorm's picture

Their jobs are gone.  They aren't going to have jobs relevant at all to the jobs that disappeared.  All such jobs will automate and 45 yr old toll collectors aren't going to be retrained to be radio engineers.  IQ matters.  1/2 the population is under 100 and they are not going to have jobs.  Period.  Plan to carry them.  They will be a burden.

Then consider a burden that businesses would have to be forced to take on - so that the jobs are replaced.  It only takes a will to make the private sector embrace US citizens of all skill levels instead of opposing them.  Those people can have good jobs if you're willing to stand up to US-hostile business interests.

Wed, 10/02/2013 - 09:05 | 4013361 RKDS
RKDS's picture

But the job cremators will cry bloody murder if they have to actually care about America instead of just saying that they do!

Tue, 10/01/2013 - 23:05 | 4012811 fourchan
fourchan's picture

i'm pushing 130 and have used that to check out of the system going on 10 years now. no taxes paid

no debt, a ton of pms, and i'm about a minute away from getting an obama phone and free healthcare insurance.

my slave days are over and i am actively doing my little part to stress the system to collapse under its own weight.

the republic is dead, anarchy is now the only way. 

Tue, 10/01/2013 - 21:53 | 4012566 SpykerSpeed
SpykerSpeed's picture

Don't count on it.  We aren't reverting to the mean.  We are currently living in the last hurrah of socialism.  Fiat and debt markets are about to collapse, and they will be replaced by gold and Bitcoin.  We will see massive deflation in the assets of the wealthy - the stock and real estate markets will crash, forcing the wealthy to sell off some of their land/mansions/equity for pennies on the dollar.

There will be a redistribution of wealth.  And it'll be from the baby boomers to the millenials.  It'll be from the professionals to the laborers.  And it won't be driven by Marxism or socialism or Democrats.  It will be driven by the market.

Wed, 10/02/2013 - 01:41 | 4013033 AGuy
AGuy's picture

"There will be a redistribution of wealth. And it'll be from the baby boomers to the millenials. It'll be from the professionals to the laborers. "

Hardly. The wealth that was an illusion will simple vanish. There will be no redistribution. It was all just a huge illusion based upon Debt and cheap energy.

" And it won't be driven by Marxism or socialism or Democrats. It will be driven by the market."

It more probable that the system will go from really bad to a complete disaster as has throughout history. Fall of Rome and other empire resulted in major wars, slavery, and pandemics. This time will not be different. The Labors will die in war or end up as neo-serf (sharecroppers), and most professions held by professions will cease to exist since there will be no market demand for their skills. That's assuming the world some how doesn't end up nuking itself in WW3, or just nuking itself as Nuke plants fail around the world as the JIT global economy collapses.

BTW:  Bitcoin is just a fad, like the pet rock. Like all fiat currencies it's purchasing power will drop to zero, and much sooner before any major currencies collapse.

"forcing the wealthy to sell off some of their land/mansions/equity for pennies on the dollar."

And who is going to buy it? The Millienials with no job, no savings, no PMs,  $50K or more in student debt, and no skills to run it? Most of the land that can't be adapted to a collapsed economy will be abandoned and end up as swattersville (Malls, heavy industries, commerial buildings, etc). The Wealth will switch back to land owners that have fertile farm land or contain useful resources, much like it was 200 years ago. The majority milleniums will end up as sharecroppers as will most of the other generations too, unless they choose starvation or die from something else.

In the most recent empire collapse, the Soviet union, the Wealth of the state was transfered to the oligarchs, most of which are now multi-billionaries and still control everything. They became the neo-nobility. Something simular may happen unless there is some sort of socialism movement that transfer power to a new group of people that become the neo-nobility of the West. Or we might like through a secord reign of terror that happen after the French revolution. Consider that for all of civilization except for the past 200 years, people lived in neo-feudal societies where a few nobles had absolute power over the people who sent tribe to a King that used capital to wage war to expand the regions the nobles controlled.

 

Tue, 10/01/2013 - 22:10 | 4012628 sethstorm
sethstorm's picture

We are in a depression.  Additionally, labor and skills are cost-arbitraged globally now.  This means the end of those millions of nice, safe, high-paying middle class jobs we're all so fond of.  That world is gone.  Those who are older are maintaining their positions because they still have some influence and can do so.  But they are the last.

Then get rid of the means to cost-arbitrage it, even if it takes unpleasant measures.  Businesses aren't entitled to be the sole benefactor of freedom in that regard.

 

Wed, 10/02/2013 - 09:06 | 4013380 RKDS
RKDS's picture

I wish you'd stop starting your posts with a blockquote so you could get the upvotes you deserve.

Tue, 10/01/2013 - 22:10 | 4012631 DanDaley
DanDaley's picture

Thanks for the succinct summary...I'll be sending it to several folks, as well as posting it on the bulletin board at work. 

Tue, 10/01/2013 - 23:10 | 4012706 JuliaS
JuliaS's picture

What is also happening is that for the first time in human history, the producers are able to communicate directly with the consumers and transact independently. The 3rd world used to be sergregated within impenetrable borders, forced to work for their local mafia don, in order to export the product to the mafia don of the neighboring country, who would both take their cuts and then decide the pricing structure for the rest of us. That world is gone.

Last time my music player broke, I didn't go to the store. I took the device apart, found the fired board. Then contacted some worker in midland China, employed at a factory that produced the boards (before the gadget manufacturer bought'em and slapped the brand sticker on). I bought exactly what I needed and had it delivered within a week.

Everyone can do business directly, cutting every single man out not involved in production. That's bad for the service sector - people manufacturing no tangible product, or producing one priced above market. The future is global. If I want something, I will find the person who makes it and I will get as few parasites involved in it as possible.

The government understands this trend well. That is why it is going on a witchhunt, trying to find new way of taxing the internet, carbon emissions and everything else that moves. The former mafia dons standing by each fence used to be generous, sharing the cut of the loot, but now their herding economy has gone underground.

The downside is that most of us in the 1st world used to benefit from the policy of segregation. The 3rd world used to be our timid and obedient slave. They did a lot and expected was presented to them as normal and adequate by their local slaveowners. Now they have discovered what their work was actually worth and what they'd be able to afford if they were compensated fairly. They want their cut and they'll eventually get it.

Tue, 10/01/2013 - 20:08 | 4012177 90's Child
90's Child's picture

http://imageshack.com/a/img822/5774/tue2.png

 

The lost generation bitchez....

 

Rather not post taxes paid, nor look at it..

Tue, 10/01/2013 - 19:17 | 4011994 Xibalba
Xibalba's picture

Just gearing up for WW3.  Same thing led to the 3rd Reich.  The only question is, who will liberate the planet from the 4th Reich? 

Tue, 10/01/2013 - 19:40 | 4012068 John Wilmot
John Wilmot's picture

It's not hopeless. I've always maintained that if any alien race arrives on Earth, they would have to be libertarians, since otherwise they couldn't have reached a high enough level of material civilization to travel through interstellar space. So, yep...space libertarians, cross your fingers. ;-)

Tue, 10/01/2013 - 19:45 | 4012093 LetThemEatRand
LetThemEatRand's picture

Fuck, I hope they don't impose the Dewey Decimal System on us.  Oh, libertarians.  Nevermind.

Tue, 10/01/2013 - 21:09 | 4012430 cifo
cifo's picture

Yeap, it's libertarians, not librarians :)

Tue, 10/01/2013 - 19:48 | 4012110 McMolotov
McMolotov's picture

I'm hoping it's those green Orion chicks.

Tue, 10/01/2013 - 20:24 | 4012257 Alethian
Alethian's picture

Holy fuck man, you just brightened up my day. You're right. 

 

Unless of course, they were libertarian and spread their civilization to the stars, but then some event(s) caused their culture to degenerate toward statism again. E.g. stellar catastrophe, loss of a crucial resource, first contact - any of the sorts of things that trigger substantial cultural change. Because then it's conceivable that their previously free space empire would become increasingly regulated and controlled, their education system would suffer, public morals would collapse, and the inevitable economic and political shocks would occur. We can envision such a society breaking down into separate statist factions yet being able to maintain its present level of technology through some accommodation of market forces. And it could be one of those factions that finds us, seeking to exert economic and political (and cultural?) dominance over us. 

Tue, 10/01/2013 - 21:53 | 4012564 Big Brother
Big Brother's picture

Some good posts in this thread, especially these on libertarian aliens (so much for Krugman's hope of an alien bail-out).

I've read a bit of Clarke, Heinlein, and Asimov; and watched those late-night history channel on abductions, etc.  It would appear to me that nearly all science fiction, especially before Phillip K Dick, was means to project a philosophy.  Basically the premise of these Sci-Fi novels come from the author's philosophical leanings and project them into an alien's.  So yeah, the protagonist aliens are probably very libertarian and "secular alienist".  As for the abductions, I think they are all cerebral and serve as coping mechanism or somehow manifest some cognitive dissonance (e.g. "I can't have children because the aliens keep impregnating me and taking my babies").

Anyway, I've had like three "back porches" so I'm feeling pretty good. 

Tue, 10/01/2013 - 20:20 | 4012241 ElvisDog
ElvisDog's picture

Here's the problem with all the WW3 wet-dreams I read about on ZH - in 1940 the world was awash in oil and other commodities. In 2013, the world is a world of scarcity. Another problem - who exactly is going to fight whom? China is not invading the U.S.. The U.S. is not invading China. Russia is making too much money to get involved in WW3. Europe is a pussified basket case. 

And I'm fucking sick and tired of the Hitler/3rd Reich references. 99% of which have no relevance to whatever situation they are being used as an example.

Tue, 10/01/2013 - 20:57 | 4012380 Quantum Nucleonics
Quantum Nucleonics's picture

I agree that WW3 talk is silly nonsense, BUT, the world was not "awash" in commodities in 1940.  The need for commodities was a major reason for parts of WW2.  For example, the US oil embargo of Japan was a major catalyst for Japan's going to war with the US.

Tue, 10/01/2013 - 21:09 | 4012383 Xibalba
Xibalba's picture

lol.  The 3rd Reich wasn't about war, it was about control over it's people, and that led to the 1939 Defensive War.  You want similarities?  Here:

"What happened here was the gradual habituation of the people, little by little, to being governed by surprise; to receiving decisions deliberated in secret; to believing that the situation was so complicated that the government had to act on information which the people could not understand, or so dangerous that, even if the people could not understand it, it could not be released because of national security. And their sense of identification with Hitler, their trust in him, made it easier to widen this gap and reassured those who would otherwise have worried about it.

"This separation of government from people, this widening of the gap, took place so gradually and so insensibly, each step disguised (perhaps not even intentionally) as a temporary emergency measure or associated with true patriotic allegiance or with real social purposes. And all the crises and reforms (real reforms, too) so occupied the people that they did not see the slow motion underneath, of the whole process of government growing remoter and remoter.

"To live in this process is absolutely not to be able to notice it—please try to believe me—unless one has a much greater degree of political awareness, acuity, than most of us had ever had occasion to develop. Each step was so small, so inconsequential, so well explained or, on occasion, ‘regretted,’ that, unless one were detached from the whole process from the beginning, unless one understood what the whole thing was in principle, what all these ‘little measures’ that no ‘patriotic German’ could resent must some day lead to, one no more saw it developing from day to day than a farmer in his field sees the corn growing. One day it is over his head.

"How is this to be avoided, among ordinary men, even highly educated ordinary men? Frankly, I do not know. I do not see, even now. Many, many times since it all happened I have pondered that pair of great maxims, Principiis obsta and Finem respice—‘Resist the beginnings’ and ‘Consider the end.’ But one must foresee the end in order to resist, or even see, the beginnings. One must foresee the end clearly and certainly and how is this to be done, by ordinary men or even by extraordinary men? Things might have. And everyone counts on that might."

http://www.press.uchicago.edu/Misc/Chicago/511928.html

 

Now go back to your dog. 

 

Tue, 10/01/2013 - 21:43 | 4012534 ElvisDog
ElvisDog's picture

Again, utter, complete bullshit. The only way Obama (or whoever) is going to become Hitler and we're going to become the Fourth Reich is if he declares himself to be president for life, at which point there would an immediate civil war. Want to know one very important difference between Germany 1935 and U.S. 2013? There are over 300 million guns in the U.S. Hitler never would have become Hitler if the Jews and Communists in Germany were armed.

Tue, 10/01/2013 - 22:23 | 4012647 Xibalba
Xibalba's picture

1, The people who run the country and write it's laws do not have term limits.  But they are working on what you described: According to GovTrack.US, Rep. Serrano introduced House Joint Resolution 15 on Friday. The resolution is described as:

“Proposing an amendment to the Constitution of the United States to repeal the twenty-second article of amendment, thereby removing the limitation on the number of terms an individual may serve as President.”

 

2, Guns are rocks without bullets.  Feinstein is on it

 

3, The fact that you don't realize what happening all around you only reinforces my point.  

 

Wed, 10/02/2013 - 05:11 | 4013102 bunnyswanson
bunnyswanson's picture

Duplication Sorry*

Wed, 10/02/2013 - 05:09 | 4013125 bunnyswanson
bunnyswanson's picture

Song http://www.youtube.com/watch?v=kPBzTxZQG5Q

 

Had to edit - movie is out of order.

 

Tue, 10/01/2013 - 19:15 | 4011984 negative rates
negative rates's picture

Many a dream has been crushed by people far greater than us.

Tue, 10/01/2013 - 19:27 | 4012030 booboo
booboo's picture

The U.S. Government says they should join the Military or forever be priced out.

Hello Mutta, hello Fadder, so good to be here in Camp Cannon Fodder

Ernie Watson, he's are leader.

Late last night he took a round to the peter.

 

Tue, 10/01/2013 - 19:31 | 4012039 McMolotov
McMolotov's picture

Don't think for one second that the assholes in charge aren't thinking about debt forgiveness in exchange for "serving" one's country.

"Step right up! Step right up! Kill some brown people for Uncle Sam and he'll kill your debt!"

Tue, 10/01/2013 - 19:43 | 4012054 prains
prains's picture

There's a new franchise opportunity right around the corner....Bullet Stoppers R' Us

 

it's so scary troo it's scary

 

since '08 it's been pretty out in the open that this is one of the many avenues of control the MIC has implemented and the constant propoganda on brown people who live on top of oil who need to be removed makes it easy to connect the dots. The MIC constantly destabilizes and insites the Muslim nations wanting a retaliation.

Tue, 10/01/2013 - 21:21 | 4012471 CrashisOptimistic
CrashisOptimistic's picture

Debt forgiveness has been policy for many years.  All kinds of jobs get to cancel a % of student debt per year of work.   Teachers, State Department, Health Dept.  This is not new.

Tue, 10/01/2013 - 19:32 | 4012042 Fake_nation
Fake_nation's picture

Millenials are not to blame for their circumstances, but we can do better. It's pretty incredible we are getting dominated by elders who think that Ubuntu is an African humanitarian crisis in the year 2013. 

http://www.fakenation.info/please/top-five-millennial-issues

Tue, 10/01/2013 - 19:59 | 4012138 wee-weed up
wee-weed up's picture

Yet an overwhelming majority of millenials supported Odumbo...

Who has single-handedly done more to destroy their future than anyone!

Tue, 10/01/2013 - 20:51 | 4012360 j0nx
j0nx's picture

Agreed. I'm getting sick of hearing people say these kids got a raw deal. Bullshit. They vote for liberal communists overfuckingwhelmingly. What did they think was going to happen??? That's right because obviously they DON'T think. Valuable life lesson at an early age I say.

Tue, 10/01/2013 - 21:00 | 4012397 wee-weed up
wee-weed up's picture

Reality bites...

HARD!!!

Wed, 10/02/2013 - 00:34 | 4012971 oddball
oddball's picture

lol...

 

You assholes think voting matters?

 

hahahahhahahahhahahahahahahaahahahahahhahahahahahahah

Wed, 10/02/2013 - 01:37 | 4013028 Notarocketscientist
Notarocketscientist's picture

What does it matter who you vote for?  They are ALL corrupt.

Tue, 10/01/2013 - 19:45 | 4012094 butchee
Wed, 10/02/2013 - 02:40 | 4013054 hustler etiquette
hustler etiquette's picture

"fainted when the book mentioned me"

Wed, 10/02/2013 - 00:33 | 4012970 Freddie
Freddie's picture

Hope & Change.  A lot of young-ins voted for this.  Yeah the other options was not that much better but anything else was better than this.   But hey - they got a hip evil dork who cannot speak a sentence w/o a teleprompter.  Enjoy kiddies.

Wed, 10/02/2013 - 09:36 | 4013448 jiggerjuice
jiggerjuice's picture

www.waitbutwhy.com/2013/09/why-generation-y-yuppies-are-unhappy.html

Ring a bell with any of you? My life is not sunshine and lollipops and rainbows everywhere... But I have extremely low expectations.

Tue, 10/01/2013 - 19:12 | 4011959 johnconnor
johnconnor's picture

let's see how many old farts begin writing comments like "these kids are so lazy and stupid, they have it so easy... back in my day ... bla bla bla"

Tue, 10/01/2013 - 19:16 | 4011989 McMolotov
McMolotov's picture

There are no fucking jobs. I've been feeling antsy about my own employment situation, so I've been looking around to see what's out there. Jack shit, that's what. Almost everything is part-time, and the stuff that isn't wants years of experience. And internships? What the fuck is up with all the internships?

Screwed doesn't even begin to cover what it's gonna be like for younger people.

Tue, 10/01/2013 - 19:27 | 4012029 kaiserhoff
kaiserhoff's picture

I've seen the same thing, even in the "strongest" states.  Virginia looks good, if you are in the military, or federal government.  Otherwise, it's the same disaster as every other place.

One thing that is missed in the stats is living cost.  Some of these urban jobs look OK, until you realize it costs a fortune for a rented room, or you suffer a horrible commute.  No area of the country really has much to offer.  That is different, and scary as hell.

Tue, 10/01/2013 - 19:47 | 4012106 ManWithaPlan
ManWithaPlan's picture

I am a young person. I have moved around finding working wherever I can. Work is there, not anything lasting or worthwhile though. Most places offer nothing in terms of wages. Even some tech jobs start off at minimum wage. Generally, you just find two of these jobs. I dont do that though because I have adopted a minimalist life style. I figured best course of action.

Tue, 10/01/2013 - 19:55 | 4012133 McMolotov
McMolotov's picture

You're not alone with the minimalist thing. And besides being cheaper, it really is less stressful. Consumerism is a dying ideology.

Tue, 10/01/2013 - 20:00 | 4012157 El Tuco
El Tuco's picture

+100

Tue, 10/01/2013 - 21:02 | 4012404 Caviar Emptor
Caviar Emptor's picture

McMolotov: yes consumerism is dying. It was known as yuppyism, having-it-all, aspirational ism. It was a great con perpetrated on the masses: evryobody was a wanna be and that made the "already-be's" rich. Since 2008 the entire economy has been making grinding adjustments to the new minimalism. The entire consumerist distribution network is going down, retail on the skids, and all the bs that went along with promoting it.

Tue, 10/01/2013 - 23:28 | 4012872 varnelius
varnelius's picture

Yet, Peak Oil is a farce, and soon enough we'll overtake the Saudis in production.

/sarc

As energy continues to increase in price, the entire machine is slowly breaking down.

Wed, 10/02/2013 - 00:37 | 4012978 Freddie
Freddie's picture

I was gonna be a hobo but Buffett charges us grifters to ride on his oil trains.

Tue, 10/01/2013 - 19:41 | 4012073 sister tika
sister tika's picture

Career opportunities at pawn shops or possibly Burger King. 

Tue, 10/01/2013 - 20:04 | 4012170 Parrotile
Parrotile's picture

Getting to the stage where "a Lifetimes' Worth" of experience is the minimal entry requirement for an "Entry-Level" minimal wage position. (along with the "necessary" Degrees and Post Grad qualifications)

A hidden agenda methinks . . . . .

Tue, 10/01/2013 - 20:27 | 4012269 Alethian
Alethian's picture

Welcome to Europe. That's one of the reasons I left the UK. Sadly, the shitty situation followed me. 

Tue, 10/01/2013 - 20:55 | 4012375 Parrotile
Parrotile's picture

Welcome to Australia, Mate!!

It ain't no different here . . . .

Tue, 10/01/2013 - 22:40 | 4012698 mnevins2
mnevins2's picture

And please read page 51 of the report:  "More immigrants would mean a larger workforce, more taxpayers, and a lower dependency ratio, easing the public's burden to make hard choices about investing in youth or maintaining the public commitments to seniors."  

Better get on the phone to your representatives in DC and tell them NO to "amnesty" and more immigrants competing for our jobs!!!

 

Tue, 10/01/2013 - 23:54 | 4012922 RafterManFMJ
RafterManFMJ's picture

Shouldn't put this out there but I supplement my income by panhandling on the weekends. I've got a pretty good territory and have even taken on an intern, unpaid of course

Wed, 10/02/2013 - 06:54 | 4013179 FerretBrain
FerretBrain's picture

Sshhhhhh!  It's a secret!  Obammy and his minions have been carefully and oh so cleverly covering that up with the manipulated employment reports.  You aren't supposed to see the truth!

Tue, 10/01/2013 - 19:59 | 4012153 El Tuco
El Tuco's picture

Dude, it wasn't easy for the old farts and it's not going to be easy for the young kids. It's hard for everyone.

 

Tue, 10/01/2013 - 21:46 | 4012538 wee-weed up
wee-weed up's picture

 

 

johnconnor  "let's see how many old farts begin writing comments like "these kids are so lazy and stupid, they have it so easy... back in my day ... bla bla bla""

I'm not going to say you're lazy and stupid...

But I will ask... did you vote for Obama? Did you drink the Kool-Aid?

Elections have consequenses!

Wed, 10/02/2013 - 01:39 | 4013031 Notarocketscientist
Notarocketscientist's picture

No they don't you stupid cunt.

Remember why people voted for Obama?  Because they were tired of Bush's wars, corruption and crony capitalism.

But of course Obama is no different.

And whoever is president after Obama will be no different.

Because the president is a puppet - corporations and special interests run the show.  All politicians are bought and paid for

 

WAKE UP YOU DUMB FUCKS

Tue, 10/01/2013 - 19:33 | 4011962 nmewn
nmewn's picture

Viva la France!

Oh, wrong thread...lol.

//////////

I see the Frenchies are still awake, biting their nails and shitting their pants as usual ;-)

Tue, 10/01/2013 - 19:48 | 4012108 kaiserhoff
kaiserhoff's picture

Speaking of Les Froggies, where's Francis?

Did he get a time out for his frothy first about Cramer?  Je ne sais  pas.

Anyone?  Bueller?

Tue, 10/01/2013 - 20:05 | 4012171 nmewn
nmewn's picture

Dunno, I missed it, must have happened on daylight EST when I was at work.

Its a real toughie when you think about it, never agreed on "time outs" or banning but its not my house to say.

Tue, 10/01/2013 - 20:08 | 4012188 kaiserhoff
kaiserhoff's picture

The Times, the times, they're a changin'.

Tue, 10/01/2013 - 20:50 | 4012355 DaddyO
DaddyO's picture

Word is "BANNED" for a rant that got a little raw, or so I was told.

DaddyO

Wed, 10/02/2013 - 00:54 | 4012995 Freddie
Freddie's picture

Frances is in temple.  Or watching Diamonds Are Forever with Bond and the jewess in a bikini.

Tue, 10/01/2013 - 19:11 | 4011964 McMolotov
McMolotov's picture

And all these young people are magically gonna pay for the old folks' retirement? Yeah...

Tue, 10/01/2013 - 19:17 | 4011987 LetThemEatRand
LetThemEatRand's picture

The golden goose is cooked.

Tue, 10/01/2013 - 21:47 | 4012549 autofixer
autofixer's picture

Retirement? 

Tue, 10/01/2013 - 19:17 | 4011965 Richard III
Richard III's picture

Aye, verily - stop caterwauling and secure a situation of the paying kind; you assumed the debt with thine eyes wide open. Deport yourself as an adult and fulfill your obligation.

Nothing in this world is vouchsafed; least of all, a $ 50,000 entry-level situation for a B.A. in "humanities." Take thee to a coffery, and man the espresso machine.

Tue, 10/01/2013 - 19:16 | 4011990 NickVegas
NickVegas's picture

Two sides to every trade, Richard. Where did the money for the debt originate? Is the pricing of the product determined by supply and demand, or by the availablility of fiat money printed by Ben, and loaned at shylock terms. Adult, my ass.

Tue, 10/01/2013 - 20:41 | 4012311 Withdrawn Sanction
Withdrawn Sanction's picture

Where did the money for the debt originate?

Sorry, but that's backwards.  The debt created the money, not the other way around.  It was the willingness of someone to sign up for a loan that then generated the credit to someone's checking account (aka the money multiplier).  Whether the millennials truly understood what they were signing up for (in contract law terms) is another question entirely.  Im inclined to believe, however, most were sold a bill of (false) goods by banksters, university officials, and government shills.

Wed, 10/02/2013 - 01:07 | 4013006 Freddie
Freddie's picture

These young people are such mailingerers.  They need more ambition and a greater work ethic.   

Go back to school and get a masters degree preferably from an Ivy League school like our beloved prezident.  

Or these young folks could start a web site company that spys on Americans for the govt.  Everyone is doing it and making billions. (sarc)

Tue, 10/01/2013 - 19:19 | 4012004 LetThemEatRand
LetThemEatRand's picture

Yep, it's their own fault for not running away from the slave traders fast enough.   Eyes wide open my ass.   When Ponzi got busted, caveat emptor was not a defense.

Tue, 10/01/2013 - 19:29 | 4012033 Ralph Spoilsport
Ralph Spoilsport's picture

Truthiness from a 15th Century monarch is extant.

Tue, 10/01/2013 - 19:32 | 4012045 Tinky
Tinky's picture

With that single post, you have leap-frogged ahead of Mr. Fuld on the list of important Dicks.

Tue, 10/01/2013 - 19:14 | 4011973 NidStyles
NidStyles's picture

This is the beginning of the disconnect between the illusion created by the system and the real economy. It's only a matter of time before people simply stop participating in the bullshit. I mean honestly, they have to nearly bribe people to take part in any of this with essentially free money, that tells you what everyone values most of the garbage they are pushing on us at.

Tue, 10/01/2013 - 21:11 | 4012434 Caviar Emptor
Caviar Emptor's picture

Yes. Most view the "possessions"that they accumulated during the "fat years" with a jaundiced eye: more useless obsolete junk than you can ever deal with. Participation in the old "aspirational consumerist system" is vanishing fast. Turns out greed is not enough.

Wed, 10/02/2013 - 01:12 | 4013015 Freddie
Freddie's picture

Until the masses unplug  TV and Hollywood and f**king starve that beast then we are all sheep.  They control the masses through the media.

Tue, 10/01/2013 - 19:13 | 4011975 Duc888
Duc888's picture

Welcome to Government Serfdom my younger brethren.

 

Hope and Change.

 

Indeed.

Tue, 10/01/2013 - 19:15 | 4011977 esum
esum's picture

millenials = still sucking on mother's tit

or jerking off to video games

they voted the mulatto in....... LIVE WITH IT sucka

Tue, 10/01/2013 - 19:20 | 4012005 Xibalba
Xibalba's picture

Corporations voted in the fucker the 2nd time.  Voter participation was anemic at best, but spending...well...that was a different story. 

Tue, 10/01/2013 - 19:24 | 4012021 LetThemEatRand
LetThemEatRand's picture

Even more importantly in my mind, corporations gave voters the choice between Obama and McCain, then Obama and Romney.  Therein lies the real rub.    

Tue, 10/01/2013 - 19:50 | 4012112 nmewn
nmewn's picture

"Even more importantly in my mind..."

Not only "corporations" (as we like to define & deride corporations) but any entity working within the designed tax code for their free ride to mischief & profit to gain the favor of Emperor.

Does anyone really think Media Matters should be tax exempt at this point (under Caesars Law) when they attack their fellow brothers of the "media" with such reckless abandon?

If we're gonna do it, lets do it right, the NYT's is a corporation too ;-)

Tue, 10/01/2013 - 20:11 | 4012197 LetThemEatRand
LetThemEatRand's picture

I have come around to the idea that the existence of corporations are a big part of the problem.  They are "people" with zero personal responsibility, yet they demand and in fact propagandize personal responsibility on all real persons.   As a professional, I am personally liable if I fuck up regardless of the fact that I am also a corporation.  Doesn't stop me from plying my trade.   

Tue, 10/01/2013 - 19:53 | 4012123 One of We
One of We's picture

Quite the shitty picking there.  If I was 20 years old I'd probably be looking to burn the nearest bank to the fucking ground.  The BofA the hippies burned in Santa Barbara back in the 60's turned into a pretty nice pool hall with a wide selection of beer on tap.  Bullish molitov's.....

Tue, 10/01/2013 - 20:15 | 4012212 Ballin D
Ballin D's picture

If you were 20? 20 year olds have 60-80 years of life to lose and had no hand in the crisis.

 

Any old fuck can throw a molotov. They were too lazy and self centered to fix anything before and they arent going to get up from the most comfortable seat in the house to do anything about it now.

Tue, 10/01/2013 - 21:02 | 4012395 Oldwood
Oldwood's picture

As a sixty year old, I am firmly in the boomer camp. The thing I wonder is how are expectations different from when I was 18 or 20? When I was graduating for HighSchool, I had a draft number of 49 and classified 1A. Future definitely unclear. Worked in laboring jobs, mostly construction all of my life. Starting as a laborer digging footings, packing stone for masons and shingles for roofers. For the last thirty plus years I have cultivated my own business making cabinets and furniture. It has always been hard but is now getting harder. The thing I notice is how few young people are looking to do any kind of laboring work. It seems they have all bought into the idea of corporations and the corporate ladder, while also expressing their hate for it. Toughing it is working floor sales at the Istore. Self employment is hard and has zero guarantees of antything, but it is the only path towards freedom with success. Or at least that is what I used to believe. Now, I'm not certain of much except the only freedom is to be as self reliant as possible  and that won't come at the hands of corporations or government. Spend less time blaming others and figure it out for yourself. Nothing was handed to much of anyone, we all seek to make the best of what we have.

Wed, 10/02/2013 - 04:27 | 4013104 Kobe Beef
Kobe Beef's picture

Yep. Make your own job. Takes time, but so does sitting on ass in a cubicle, waiting to be downsized. Plus, you get to do something that matters to you.

Tue, 10/01/2013 - 23:09 | 4012824 Imminent Crucible
Imminent Crucible's picture

"Any old fuck can throw a molotov."

It ain't the throwin' that's the problem, mate. It's the runnin' away on these 60 year old knees, after a lifetime of roofing and hanging sheetrock.

Throwing molotovs accomplished exactly nothing for the Greeks. They're still in the EU prison house.  There's only one way around this, and that's right through the middle. Drop out of the corrupt matrix, stay as legal as you can, avoid taxes, develop skills, look after your own, and put away a little for your neighbor.  We're all gonna need it.

And don't expect the young people to pick up the tab for your knee replacement or your viagra. They can't do it, and they don't owe us a thing.

Tue, 10/01/2013 - 23:03 | 4012804 The Grip
The Grip's picture

One of We... + 1 for the IV reference!

Tue, 10/01/2013 - 20:28 | 4012272 Alethian
Alethian's picture

Those video game characters are pretty hot these days.

Tue, 10/01/2013 - 20:58 | 4012388 j0nx
j0nx's picture

Amen esum. Choices got consees. Valuable lesson they are learning. Assuming they recover from it.

Wed, 10/02/2013 - 00:02 | 4012934 RafterManFMJ
RafterManFMJ's picture

The new Chevy Mulatto! Seats six, AWD...

Seriously that sounds like an awesome name for a new crossover sport 'ute.

Tue, 10/01/2013 - 19:16 | 4011992 Alcoholic Nativ...
Alcoholic Native American's picture

"young workers are now 30 years old when they first earn a median-wage income of about $42,000, a marker of financial independence, up from 26 years old in 1980."

 

What kind of employer would pay a 30 year old 42k a year??  I'm 29 and get paid minimum wage.  I got every tom dick and harry coming in the store asking us if we need help trying to undercut me.

Tue, 10/01/2013 - 19:39 | 4012058 Pool Shark
Pool Shark's picture

 

 

Education is a big part of the problem.

What percentage of current college graduates actually have marketable skills? The worthwhile college grad is most likely the one who worked his/her way through college, paid their own way, and actually know how the 'real world' works because they've been a part of it.

If you can't provide a profitable service to your employer, he has no reason to hire you.

I have interviewed many college grads with no work experience whatsoever (mummy and daddy paid their way while they partied at school...), and now that they have a degree, they 'expect' to start at a salary of $40k, and become executive VP within 3 years.

Many of these graduates were sold a bill of goods. They were indoctrinated with piles of PC crap and useless social-engineering courses, and told their $200k degree would guarantee them a six-figure salary.

Welcome to the real world, where many of us worked our way through part-time jobs in high-school and full-time jobs in college while attending night school and learning the ropes...

Tue, 10/01/2013 - 20:20 | 4012240 Ballin D
Ballin D's picture

Working through school doesnt make sense anymore. At one time a part time job could pay school. living expenses, and allow you to put money aside for a then affordable sports car. Now, full time might cover an 18 year olds living expenses if they dont have any accidents or emergencies, forgetting about education as a whole.  I was one of the few from my year to get a job out of college and Ill tell you right now I wont be working when/if I go back for an MBA. Its not worth spending so much time for so little reward.

Tue, 10/01/2013 - 21:17 | 4012461 Angry White Dude
Angry White Dude's picture

How about 25 year old kids making $160k right out of law school? Insane.

Wed, 10/02/2013 - 01:28 | 4013021 Freddie
Freddie's picture

Law is no bed of roses and I would not want to be a lawyer.  The Hope & Change economy has hurt a lot of these blood suckers which is one small silver lining.  Law firms are blowing up.  Young associates work insnane hours, assuming they can find a job.  After 8 years or more they better make partner or they are cut loose.

F  em - who cares. 

At least doctors can sometimes help people. 

Wed, 10/02/2013 - 03:08 | 4013065 johnconnor
johnconnor's picture

we could throw all the lawyers into the sun and the world would be a better place the next day

Wed, 10/02/2013 - 03:07 | 4013066 johnconnor
johnconnor's picture

we could throw all the lawyers into the sun and the world would be a better place the next day

Tue, 10/01/2013 - 20:27 | 4012183 RaceToTheBottom
RaceToTheBottom's picture

STEM jobs still pay marginally well and you will do better than almost any other degree.  Starting salaries are above that figure, if you can get work.  And they would pay much better if US corporations weren't trying to import all of India (either physically of functionally) into the US. 

I was the only "born in America" in my Engineering masters program, and this was in Silicon Valley, an area without the inbred bias against Engineering the rest of the country has....

Wed, 10/02/2013 - 05:04 | 4013120 Escapeclaws
Escapeclaws's picture

I had a similar exprience as a grad student in math. Any time i spoke with someone in my program who appeared to be a "born in America" person that person would inevitably turn out to have a foreign accent. In math, just about the only people in grad school are foreigners or Jews. Just take a look at the US Math Olympiad Team.

Why is that? There's some truth in the argument that American students are lazy or unmotivated. It seems to be a cultural thing. I'm sure sex, drugs, and rock and roll don't help. In defense of the millenials, it doesn't help to have parents whose #1 priority in life is themselves with their children all accidents due to faulty contraception. The "ME" generation...

Wed, 10/02/2013 - 11:44 | 4013911 RKDS
RKDS's picture

I'll never understand why corporate America's answer for kids who don't want to think for free is to import foreigners who _can't_ think at all.  That's the reality of so many H1Bs.  They're cheap (before companies bid them out at $300 per hour, that is) but they're dumb as bricks.  I had to work with a few dozen that couldn't tell the different between an integer and a string.  A basic concept in programming and these morons kept adding "1" and "1" and not understanding why it was printing "11" instead of 2.  Forget getting any kind of search functionality to work reliably.  They just pounded on an SAP installation with a hammer until it sort of kind of looked like it was storing some kind of information sometimes.  The poor suckers who have to use the system to do their jobs have all sorts of slurs for it.  It's There Somewhere and It's Total Shit were the ones I heard most often.  I just called it the Incredibly Taxing Clusterfuck (I know, wrong initials, so sue me).  No doubt in my mind that they, or different H1Bs, will be back in a few years to "fix" this round of screwups with even more screwups.  Repeat ad nauseum...

Tue, 10/01/2013 - 19:24 | 4012012 Tippoo Sultan
Tippoo Sultan's picture

Millennials unleashed ! Look at the junks in this thread. It is the virtual equivalent of Verdun.

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