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22 Facts About The Coming US Demographic Shock Wave

Tyler Durden's picture




 

Submitted by Michael Snyder of The Economic Collapse blog,

Today, more than 10,000 Baby Boomers will retire.  This is going to happen day after day, month after month, year after year until 2030.  It is the greatest demographic tsunami in the history of the United States, and we are woefully unprepared for it.  We have made financial promises to the Baby Boomers worth tens of trillions of dollars that we simply are not going to be able to keep.  Even if we didn't have all of the other massive economic problems that we are currently dealing with, this retirement crisis would be enough to destroy our economy all by itself.  During the first half of this century, the number of senior citizens in the United States is being projected to more than double.  As a nation, we are already drowning in debtSo where in the world are we going to get the money to take care of all of these elderly people?

The Baby Boomer generation is so massive that it has fundamentally changed America with each stage that it has gone through.  When the Baby Boomers were young, sales of diapers and toys absolutely skyrocketed.  When they became young adults, they pioneered social changes that permanently altered our society.  Much of the time, these changes were for the worse.

According to the New York Post, overall household spending peaks when we reach the age of 46.  And guess what year the peak of the Baby Boom generation reached that age?...

People tend, for instance, to buy houses at about the same age — age 31 or so. Around age 53 is when people tend to buy their luxury cars — after the kids have finished college, before old age sets in. Demographics can even tell us when your household spending on potato chips is likely to peak — when the head of it is about 42.

 

Ultimately the size of the US economy is simply the total of what we’re all spending. Overall household spending hits a high when we’re about 46. So the peak of the Baby Boom (1961) plus 46 suggests that a high point in the US economy should be about 2007, with a long, slow decline to follow for years to come.

And according to that same article, the Congressional Budget Office is also projecting that an aging population will lead to diminished economic growth in the years ahead...

Lost in the discussion of this week’s Congressional Budget Office report (which said 2.5 million fewer Americans would be working because of Obamacare) was its prediction that aging will be a major drag on growth: “Beyond 2017,” said the report, “CBO expects that economic growth will diminish to a pace that is well below the average seen over the past several decades [due in large part to] slower growth in the labor force because of the aging of the population.”

So we have a problem.  Our population is rapidly aging, and an immense amount of economic resources is going to be required to care for them all.

Unfortunately, this is happening at a time when our economy is steadily declining.

The following are some of the hard numbers about the demographic tsunami which is now beginning to overtake us...

1. Right now, there are somewhere around 40 million senior citizens in the United States.  By 2050 that number is projected to skyrocket to 89 million.

2. According to the Employee Benefit Research Institute, 46 percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement.

3. One poll discovered that 26 percent of all Americans in the 46 to 64-year-old age bracket have no personal savings whatsoever.

4. According to a survey conducted by the Employee Benefit Research Institute, "60 percent of American workers said the total value of their savings and investments is less than $25,000".

5. 67 percent of all American workers believe that they "are a little or a lot behind schedule on saving for retirement".

6. A study conducted by Boston College's Center for Retirement Research found that American workers are $6.6 trillion short of what they need to retire comfortably.

7. Back in 1991, half of all American workers planned to retire before they reached the age of 65.  Today, that number has declined to 23 percent.

8. According to one recent survey, 70 percent of all American workers expect to continue working once they are "retired".

9. A poll conducted by CESI Debt Solutions found that 56 percent of American retirees still had outstanding debts when they retired.

10. A study by a law professor at the University of Michigan found that Americans that are 55 years of age or older now account for 20 percent of all bankruptcies in the United States.  Back in 2001, they only accounted for 12 percent of all bankruptcies.

11. Today, only 10 percent of private companies in the U.S. provide guaranteed lifelong pensions for their employees.

12. According to Northwestern University Professor John Rauh, the total amount of unfunded pension and healthcare obligations for retirees that state and local governments across the United States have accumulated is 4.4 trillion dollars.

13. Right now, the American people spend approximately 2.8 trillion dollars on health care, and it is being projected that due to our aging population health care spending will rise to an astounding 4.5 trillion dollars in 2019.

14. Incredibly, the United States spends more on health care than China, Japan, Germany, France, the U.K., Italy, Canada, Brazil, Spain and Australia combined.

15. If the U.S. health care system was a country, it would be the 6th largest economy on the entire planet.

16. When Medicare was first established, we were told that it would cost about $12 billion a year by the time 1990 rolled around.  Instead, the federal government ended up spending $110 billion on the program in 1990, and the federal government spent approximately $600 billion on the program in 2013.

17. It is being projected that the number of Americans on Medicare will grow from 50.7 million in 2012 to 73.2 million in 2025.

18. At this point, Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years.  That comes to approximately $328,404 for every single household in the United States.

19. In 1945, there were 42 workers for every retiree receiving Social Security benefits.  Today, that number has fallen to 2.5 workers, and if you eliminate all government workers, that leaves only 1.6 private sector workers for every retiree receiving Social Security benefits.

20. Right now, there are approximately 63 million Americans collecting Social Security benefits.  By 2035, that number is projected to soar to an astounding 91 million.

21. Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.

22. The U.S. government is facing a total of 222 trillion dollars in unfunded liabilities during the years ahead.  Social Security and Medicare make up the bulk of that.

So where are we going to get the money?

That is a very good question.

The generations following the Baby Boomers are going to have to try to figure out a way to navigate this crisis.  The bright future that they were supposed to have has been destroyed by our foolishness and our reckless accumulation of debt.

But do they actually deserve a "bright future"?  Perhaps they deserve to spend their years slaving away to support previous generations during their golden years.  Young people today tend to be extremely greedy, self-centered and lacking in compassion.  They start blogs with titles such as "Selfies With Homeless People".  Here is one example from that blog...

Selfies With Homeless People

Of course not all young people are like that.  Some are shining examples of what young Americans should be.

Unfortunately, those that are on the right path are a relatively small minority.

In the end, it is our choices that define us, and ultimately America may get exactly what it deserves.

 

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Tue, 02/11/2014 - 23:01 | 4426533 Dr. Destructo
Dr. Destructo's picture

That's the plan.

There is political power in property and wealth, and the banks along their .gov puppets will make sure that we don't reach that aspiration. Even though I own my own home in my late 20s there are plenty of factors which could end that rather quickly.

Kill the jobs, raise the taxes on us regular folk while issuing predatory loans, suck up the homes, rent them out, rinse and repeat. Then give the people a bit of subsidized bread and circuses to attend so that the declining state of our nation becomes normalized (though take away more bread and add more circus over time). The middle class is the greatest threat to a totalitarian state, and both dems and repubs are determined to destroy it.

We millennials barely got started, but these boomers gathered their nuts only to have them stolen -at least those who actually gathered and didn't fuck off. It's fucking brutal either way you slice it. I'm surprised there isn't more solidarity in the generations -one wanting to get their shit back, and the other fighting for a chance to get started.

Wed, 02/12/2014 - 00:16 | 4426805 Jena
Jena's picture

If there were any solidarity, we all could be dangerous to the machine.  This way the low-hanging fruit can be taken out one way or another

 

Wed, 02/12/2014 - 00:44 | 4426883 Grande Tetons
Grande Tetons's picture

The machine is expecting solidarity. Why would it expect otherwise? Wanna be dangerous to the machine? Good...the first step is to see that the machine needs you more than you need it. 

Expect nothing from the machine and you will be free. 

Wed, 02/12/2014 - 01:53 | 4427037 Dr. Destructo
Dr. Destructo's picture

Two slogans:

"We don't need you"

and

"It doesn't have to be this way".

We don't need the government to defend us from enemies it conjured up by installing proxy governments and destabilizing regions.

We don't need the government to solve social issues that we can solve ourselves through our own free will.

We don't need the government to provide when we are empowered to do it ourselves

 

Just because we live in a country that spies on us, imprisons us without due process of law, constantly ignores our constitution, steals from us and gives to the 1% and their puppets in government, doesn't represent us, takes us to war constantly, militarizes the police, and treats us all as potential terrorists doesn't mean it has to be this way.

 

The best messages are short, easily remembered, and the majority that are pissed off can relate to them.

The question that I'm passing along to my friends, acquaintances, and family is this: If a government doesn't represent us, hasn't it lost it's legitimacy? The goal is to remove legitimacy through non-compliance; which we do whenever we buy gold, save, boycott, or refuse to participate in political events.

 

Wed, 02/12/2014 - 02:09 | 4427061 mccvilb
mccvilb's picture

Wise beyond your years, Dr D.

Retirement's been a trip. I decided to live life like I've just been beamed into this Doomsday Prepper world. What timing. These DPrs have already got it figured out for us. I've forsaken everything but the bare necessities and a laptop. Donated my truck to the HS across the street. Built a folding recumbent trike and tricked it out w all the gadgets, onboard computer, 1mm colors LED running lights, saddle bags, etc.  If I really need a car I call Hertz and they come and pick me up. My neighbors probably think I'm homeless. I spend zero on gas, insurance and taxes. Don't work, trade a little and I'm on track to save my entire SS income this year. I figure if I can get thru two more years I'll have enough of a stake to head out on my 36' sailboat and disappear for f'n forever in the islands.

FYI, Soc Sec is not an entitlement as some would have you believe. It is an indexed annuity that we paid for in blood and treasure - cash on the barrel money (okay, fiat) every payday. High paid govt actuaries readjusted it several times over the decades while Congress and four or five Presidents figured out how to confiscate and spend it. From the beginning everyone knew exactly how much money the govt would need to pay everyone back, and when. Oh. And Soc Security disability... did you know you pay a separate insurance tax weekly for that? It's not even part of Soc Security. Our Congress took that money too and used it to pay for everything but our disability. Now that money's gone. The entire program will end soon, and it won't end well.

I have two college degrees. Two useless degrees. Neither ever got me a job or a raise. The electronics training I received in the military got me a lab job, and parts I worked on there helped the LEM Armstrong and Aldrin rode in land on the Moon. My roommate in the service ended up fitting them out for their space suits and they repaid him by taking him out drinking and tearing up the Governor's lawn in his '67 vette.  Life's been a gas. You never know where it will take you.

You give me hope for your generation, Doc. You've already proved to me you'll find your own way through this craziness, no matter what happens. It's a tooth and claw  world.

Pax. A survivor.

 

Wed, 02/12/2014 - 03:27 | 4427155 phaedrus1952
phaedrus1952's picture

+1 to both you, Mac, and you too, Doc.

And just as an FYI, Doc, you may be surprised at how many of us old guys are pulling for your generation.  With way more of our years behind us rather than in front of us, we have very little to lose when push comes to shove.

Wed, 02/12/2014 - 10:51 | 4427797 Dr. Destructo
Dr. Destructo's picture

Definitely. Criticism is useful, and harsh critiqing has a way of boiling the blood; producing much needed drive to get things done. My father never saved, but he did pull himself out of the extreme poverty that coal mining towns in Virginia brings by joining the military. He never had anything, and what he does have isn't really his, but is the property of banks. He often feels downtrodden, but I remind him that he is not alone.

A few of us millennials made it a point to learn from the mistakes of previous generations, and even adopt lessons that worked. As more come to the realization that the 'prosperity' we had is nothing but stage props and dim lighting more will get pissed and look to the past for guidance.

Wed, 02/12/2014 - 04:28 | 4427202 Bill Shockley
Bill Shockley's picture

Couldn't agree more, as I type this I'm camped for free in Arizona on BLM land, my titanium bicycle is locked to the back of a 1977 Minnie Winnie RV I hacked the rear end off to save weight/gas. The engine is a Dodge 360 V-8, dirt simple and backed up by on board spares. It has a solar panel for power, a wood stove and a composting toilet. And weapons.

Enough of that. I too am a survivor. A mechanic who worked on all kinds of machines including people.

 

I was a floor nurse(RN) for 25 years(wiped your granny's ass, I did) so I can tell you what is the problem with healthcare. It's doctors, lawyers, insurance companies and hospital administrators. If you want to fix the system do what every other first world country has done.

TAKE THE PROFIT OUT OF HEALTHCARE AND CAP SALARIES/PAYMENTS OF THE ABOVE CLASSES OF PROVIDERS. PERIOD. AND END HOSPITAL COMPETITION.

 

Healthcare is a ponzi scheme just like banking or the military or the insurance industry(to name a few). Take away the money and the rats will flee.

 

It's a system that sucks on the sick, the hurt, the confused and the feeble, it is rotten at the core and for that reason alone our health stats are deplorable.

 

As for social security, shut the fuck up, I paid for mine, give it to me or give me my money back.

 

Don't like that idea.

 

Fuck off!

 

   bill

Wed, 02/12/2014 - 09:08 | 4427457 de3de8
de3de8's picture

Agree on ss, just give me back what I PAID in, not a penny more.

Thu, 02/13/2014 - 04:11 | 4431491 merizobeach
merizobeach's picture

You were a chump who paid into the ponzi and funded the evil all along.  You don't deserve your money back.  Bankers, politicians, and MIC start wars, soldiers carry them out, and you enabled them with your taxes and compliance.  FUCK ALL OF YOU.

Wed, 02/12/2014 - 11:25 | 4427904 Dr. Destructo
Dr. Destructo's picture

Thank you, mccvilb.

Right now I got a vehicle that's been paid for, and a bicycle, but I've got rid of my cell phone, my TV (nothing good on it anyway), my subscriptions, and booze.

I grow my own vegetables, volunteer at a local farm to gain experience and knowledge, buy locally, cook my own food, read books, stay in shape, and play the guitar and the tin whistle for entertainment.

It's a liberating feeling to free oneself from things we thought we need and instead focus on the simpler things life has to offer.

 

Social Security is just another coffer and excuse to take more money from us. They take from the fund as if it were Halloween candy, and they have no intention of using that to take care of our elderly -I completely agree with you.

I have one degree, and working on my second one. I have an associates in computer science, and am working on a Bachelor's degree in Business Admin mostly because a great deal of jobs require such a degree and I didn't want to waste my G.I. bill. It's really just a 'job hunting license' in a sense.

It is a very tooth and claw world, and I've found my way by forming partnerships and alliances. Some are like-minded, others see the illusion and are looking for some direction. Like other ZHers When the shit hits the fan I'll be among the survivors.

Wed, 02/12/2014 - 09:51 | 4427594 dizzyfingers
dizzyfingers's picture

"People tend, for instance, to buy houses at about the same age — age 31 or so. Will this happen for my gen (millenials)?"

Not to say things aren't looking extremely bleak, but there are millions of  homes that need buyers. "Values" are declining daily. Eventually they may be sold for pennies on the dollar in order to keep the owning-real-estate-is-smart scam going. You  If you buy a house for one dollar -- happening right now, seriously (or purchase for a few hundred) -- and fix it up and live in it for several decades, you might not get rich on the gain but at least you'll have had your own roof over your head.

Tue, 02/11/2014 - 21:56 | 4426303 Tasty Sandwich
Tasty Sandwich's picture

So where are we going to get the money?

There will be plenty of money; it just won't be worth anything.

By 2050, human population will be much lower than it is now - probably less than one billion.

Make preparations to save yourself and your family or accept that you are going to die sooner than you thought.

The History Channel presents "Prophets of Doom"

Tue, 02/11/2014 - 21:57 | 4426309 buzzardsluck
buzzardsluck's picture

and who raised these people that "...tend to be extremely greedy, self-centered and lacking in compassion."?

Wed, 02/12/2014 - 00:58 | 4426920 UselessEater
UselessEater's picture

my parents! I was kinda shocked to "awaken" a year or two ago.... we (parents included) thought we were doing the right thing with our votes/donations/opinions/education.... then we (parents included) discovered our alturism actually supported the reverse of our intent - now I understand with a sinking feeling why our farmers are the silent suicide bill of "right" thinking for enviro & free trade policies that serve a hidden agenda not environmental and not food security agendas we are sold (just one example)....

Tue, 02/11/2014 - 21:58 | 4426316 Westcoastliberal
Westcoastliberal's picture

Just eliminate the income cap.  There, fixed it 4 ya!

Tue, 02/11/2014 - 22:36 | 4426474 FredFlintstone
FredFlintstone's picture

Eliminate the maximum monthly benefit cap also? If not, SS will become just another welfare program. LOOSER!

Tue, 02/11/2014 - 21:58 | 4426317 bugs_
bugs_'s picture

a whole lotta preggers around here lately - just sayin!

Tue, 02/11/2014 - 22:00 | 4426326 Soul Glow
Soul Glow's picture

Boomers are fucked.  Don't even have their bodies, let alone their minds.  How they can survive the collapse?

Tue, 02/11/2014 - 22:39 | 4426484 Oldwood
Oldwood's picture

When you suggest that boomers are fucked, you must realize that boomers are a pretty big part of our society, so if they be fucked so be we all. Speaking as a boomer I would also suggest that I see a lot of younger people definitely "more fucked" than myself. Those truly fucked are those who have no real skills. We have created a society of people that are absolutely dependent not just on government,but every thing in their lives.Few can grow anything, fix anything or even have a clue of the operational principles of much of anything. Sure they can navigate their smart phone and they are a whiz on Facebook, but not much else.

Hell boomers have already won the race as we have lived our lives. I could die tomorrow and still be miles ahead of many others. I do feel bad for those left to deal with this mess. At some point people will have to learn the difference between lies and truth. Not so much to telling them apart as understanding what it means to willingly believe a lie. Self delusion has always been the greatest threat to humans. This was one of the primary points I got from Ayn Rand. The willing denial of reality is committing suicide. Humans are they only creature on this planet that must will itself to survive and is also the only one to deliberately kill itself. Our minds are our only survival tool we have and to abandon them for anything is suicide.

Tue, 02/11/2014 - 22:54 | 4426535 fonzannoon
fonzannoon's picture

i have nothing against boomers and don't fall for the generational war stuff. but please spare me the "we won the race because we lived our lives" garbage. If by winning the race you mean binged on massive debt financed consumption and the generations behind you have to clean up your shit stinking mess that is some disturbing rationalization of winning.

also the millenials we poo poo on here all the time were raised by the boomers. 

Wed, 02/12/2014 - 01:27 | 4426984 WillyGroper
WillyGroper's picture

Are you generalizing with debt financed consumption for boomers or what the gubmint has done?

"We poo poo"??? The only ones I poo poo are the beaters of the generational war drum. I meet plenty of millenials sharp as a tack & interesting people. Totally plugged in to what's happening. 

Wed, 02/12/2014 - 01:20 | 4426973 WillyGroper
WillyGroper's picture

The willing denial allow those to seek comfort in their biases/delusions while never feeling the discomfort of having to think.

That is until they're kicked in the nads by the reality that just snuck up on them.

Wed, 02/12/2014 - 13:25 | 4428412 mccvilb
mccvilb's picture

No, it is you, sir. My time is almost up anyway, but I have an e-library of 158,000 books 2,000 college lecture series' consisting of audio and vid files on every subject under the sun and beyond this solar system; detailed directions for building a solar still to a fifty story steel and glass skyscraper, bridge, 16th century italian villa or a 12th century cathedral; how-tos on all of the vocational trades, from masonry and woodcarving to weaving, welding, or recreating a Stradivari from scratch; how to speak in a hundred different languages and understand their peoples' associated cultures; a complete history of the arts; all the schools of engineering and science; over a thousand books that you will never find at your public library on every aspect of modern medicine; over twenty categories of martial arts schools and instruction; how-tos from Olympic swimming to mountain climbing or sailing, from performing ballet, to building and playing classical piano; and others I won't reveal here. I have made a good faith effort to assemble the complete history and lore of humanity, if only because most of it has been kept from us at arms length and fed to us in dribs and drabs at the will of our benevolent masters. No, it is you sir who are fucked. As they say, vous ne connaissez pas la merde (you don't know shit).

Wed, 02/12/2014 - 13:40 | 4428508 mccvilb
mccvilb's picture

A cubic foot of gold weighs just over twelve hundred pounds and is currently worth in the neighborhood of 25 million dollars. That's pretty impressive. However, knowledge weighs nothing and is more valuable than gold. Knowledge is the only true currency.

Tue, 02/11/2014 - 22:09 | 4426341 Cacete de Ouro
Cacete de Ouro's picture

The solution is easy. Form local communities which use barter as a monetary form in the first instance. The currency will be backed by goods and raw materials and talent. Then gradually integrate those communities together (as long as they use the same bartering mechanism). Then once that is stable, extend the local versions more extensively. Then substitute an exchangeable monetary unit distinct from the US dollar. The system will have to (for a period) be a closed economy without the open exchange of the new currency vs other currencies. Then launch the new unit against other currencies. It can coexist with the US dollar but you will probably be droned before then. Correction: first you will probably have every dirty tactic used against your fledgling barter system, like happened in south and east Asia. Then you will be droned.

I hate to say it, but it's your country / continent. It's up to you to change. We can't babysit you, much as we would like to.

Fuck the New York Money Powers!

Wed, 02/12/2014 - 08:36 | 4427431 ThirdWorldDude
Tue, 02/11/2014 - 22:06 | 4426349 lindaamick
lindaamick's picture

It did not help the boomers when they lost, on average 35% of their 401k holdings in the 2008 crash especially the ones that pulled out of the market then due to fears of losing everything.

It also does not help that there is no interest on plain old savings anymore.

It is no wonder that 90% of US workers will end up poor NOT because they didn't save but because the financial predators feed on their naivete and financial ignorance.

Tue, 02/11/2014 - 22:04 | 4426350 Van Halen
Van Halen's picture

Not to worry. When Agenda 21 really gets going, the government will use shock troops to get rid of undesirables. They're loading up on ammo now...

http://www.infowars.com/homeland-security-to-purchase-141000-rounds-of-s...

Tue, 02/11/2014 - 23:05 | 4426576 Leaf of Tree
Leaf of Tree's picture

Infowars..really??

 

Better Corbett Report.

Tue, 02/11/2014 - 23:08 | 4426585 Dr. Destructo
Dr. Destructo's picture

Sure there's a lot of conspiracy on Infowars, but notice that a lot of conspiracies are starting to become fact nowadays.

Tue, 02/11/2014 - 23:55 | 4426728 denverdolomte
denverdolomte's picture

I had a weird progression with alex jones. About 2006ish I think I watched Zeitgeist, never really looked into stuff like that before and I was hooked to seeing the other side of the news. (I was 22) Some of the stuff after reading into it all just got to off the wall in everyway to me. I found myself learning about Ron Paul then, a good mix of truth and logic without the conspiracy stuff, which also lead me into learning OOOOOOOOH so much about the financial world cospri-fact. About this same point all these revelations started coming about that shit in Zeitgeist & Alex Jones being revealed as really happening in our country and abroad, which rung my head a bit. 

While I still think a lot of that site is way to much, your right there are a portion that we find out each month to be true. Scary to think where it is all heading sometimes.

Tue, 02/11/2014 - 23:44 | 4426707 denverdolomte
denverdolomte's picture

Quantum electrodynamics - electromagnetism. They can buy all the bullets they want, but that wouldn't mean a damn if a brilliant physicist came along and created a spiffy device, all that technology wouldn't matter one iota. Systems would go bye bye.

Wed, 02/12/2014 - 00:38 | 4426871 Skateboarder
Skateboarder's picture

Basically the deus ex machina of all deus ex machinae?

Wed, 02/12/2014 - 01:01 | 4426932 denverdolomte
denverdolomte's picture

yup.

Wed, 02/12/2014 - 01:38 | 4427010 TBT or not TBT
TBT or not TBT's picture

Thaaaats good..shit man. /doobie mode

Wed, 02/12/2014 - 02:11 | 4427065 denverdolomte
denverdolomte's picture

I seriously will medicate and then watch hours of Richard Feynman videos learning about quantum electrodynamics.

Wed, 02/12/2014 - 02:36 | 4427096 Skateboarder
Skateboarder's picture

The tri-volume Feynman lectures in physics is a must have for every library.

Tue, 02/11/2014 - 22:05 | 4426352 QE49er
QE49er's picture

Looks like Dinki-Di's will be on the menu for a lot of us

Tue, 02/11/2014 - 23:06 | 4426587 Dr. Destructo
Dr. Destructo's picture

I thought I saw actual peas and carrots in that can of dog food.

Tue, 02/11/2014 - 22:09 | 4426360 My Days Are Get...
My Days Are Getting Fewer's picture

I am 70 and still working.  My wife and I saved all of our lives.

 

When we had limited funds, we bought old, used cars.  We renovated our home ourselves, breaking out plaster and lathe with sledge hammers.  Our kids ate the dust - but survived somehow and have made successes out of their lives.

So, my sympathies go out to those who did not prepare for old age - but, not my pocketbook.  You folks knew what was in store for you - so, if you have to live under a bridge, that is the lifestyle you have chosen.  You could have done much better

Tue, 02/11/2014 - 22:29 | 4426443 lewietheparrot
lewietheparrot's picture

My Days

Everyone lived the way you describe until the 1980 or so----not so bad.

It is obvious that, now, there is no place for old people in the US-----not so bad

I left in '94 for the reasons that you give----not so bad

Staying there and eating crap sandwiches----now that is bad

Good luck to you in that nation blind to old folks

Tue, 02/11/2014 - 22:34 | 4426462 franciscopendergrass
franciscopendergrass's picture

According to Janet Yellen, savers (she didn't want to use the word seniors) are flexible.  She did not want you to earn money off the interest from your principal.  She says savers are "flexible" and they should find part-time jobs to make ends meet.  Savers should sacrifice for the betterment of the overall economy.  That's fucked up. She should just told seniors to fuck themselves we will help the rich with QE.  People who save should be able to live off their interest and not work when they are 70.  

Here you can hear it for yourself.  Fast forward to 2 hours and 14 minutes and listen to Senator Johanns question.  Listen to Yellen's reply where she tells you to pound sand. 

https://www.youtube.com/watch?v=64eMwx0kqec

Here is an article also confirm her fucked up mentality

http://dailycaller.com/2013/11/14/obamas-choice-for-fed-chair-hurting-sa...

 

DISTURBING 

Tue, 02/11/2014 - 22:56 | 4426550 DaveyJones
DaveyJones's picture

yeah, I caught that too. very Orwellian, very programming, very thieving

more proof they know how bad the shit will hit

more proof they plan nothing to prevent it

the only answer is to get out of the system the best you can - grow your own food, get the hell out of debt, barter, trade, build a local community and yes, like humans have forever, family members should work together and help each other.  After that, revolt.  

Wed, 02/12/2014 - 01:32 | 4427003 WillyGroper
WillyGroper's picture

Reminded me of Albright saying it was worth it to kill the kids.

These people are evil.

Wed, 02/12/2014 - 05:49 | 4427263 Dr. Sandi
Dr. Sandi's picture

You never met Albright's kids.

Tue, 02/11/2014 - 23:29 | 4426658 Leaf of Tree
Leaf of Tree's picture

You are 70 and yet somehow you know how to use the Internet.

Tue, 02/11/2014 - 23:44 | 4426706 Grande Tetons
Grande Tetons's picture

In her spare time, the Mrs. likes to mine bitcoins. 

 

Wed, 02/12/2014 - 00:01 | 4426749 Harry Dong
Harry Dong's picture

Internet is easy compared to plaster and lathe. Really hate that stuff.

70 Yr old father in law wants me to help him Figure out windows 8 for him...my Unix skills aren't so useful.  I think he'll figure it out just fine.

Wed, 02/12/2014 - 00:02 | 4426763 Leaf of Tree
Leaf of Tree's picture

I honestly don't know any 70 year old grandpa that knows what the Internet is.

But this guy posts on ZeroHedge. I don't buy it.

 

Wed, 02/12/2014 - 00:15 | 4426796 Grande Tetons
Grande Tetons's picture

My dad is in his mid 70s and is addicted to the net.  Fuck, he knows more about pop culture than I do. Poor bastard. 

Wed, 02/12/2014 - 00:19 | 4426821 Clowns on Acid
Clowns on Acid's picture

Dude...are you a feckin' idjit or something..?

Wed, 02/12/2014 - 00:26 | 4426837 therevolutionwas
therevolutionwas's picture

I have a 94 year old mother in law that is on the internet daily.

Wed, 02/12/2014 - 01:36 | 4427007 WillyGroper
WillyGroper's picture

In 1997 I spoke with a 95 yr old college professor that did nothing but rave about the internet. 

Don't sell them short. Some actually can get beyond the flashing 12:00 on a VCR.

Wed, 02/12/2014 - 04:01 | 4427190 phaedrus1952
phaedrus1952's picture

Of course I up arrowed you, Wiley, but I gotta call you on that VCR thing. I was around when they were first introduced and I have NEVER met anyone who was able to stop that eternally-blinking 12:00

Wed, 02/12/2014 - 15:14 | 4428939 wtf1369
wtf1369's picture

Black electric tape worked wonders.

Wed, 02/12/2014 - 02:03 | 4427054 vortmax
vortmax's picture

My grandmother is 82 and spends more time online than I do. It's 2014, how difficult is pointing and clicking?

Wed, 02/12/2014 - 11:45 | 4427970 Zwelgje
Zwelgje's picture

For Romanians it is quite a challenge so it seems.

Wed, 02/12/2014 - 05:18 | 4427241 kareninca
kareninca's picture

My father-in-law is 89 and is perfectly comfortable with the internet.  He just finished self-publshing his third (fourth?) ebook using Amazon; they sell tolerably well.  He's nearly vegan (some fish), has practiced caloric restriction for decades, and is as mentally sharp as anyone I know.

Wed, 02/12/2014 - 06:21 | 4427290 Leraconteur
Leraconteur's picture

This is what older folks refer to when we discuss you young idiots.
You, and your bias and your stupidity.

You see, 'you know' that NO ONE 70 can understand computers. Too difficult, old people are stupid and don't use electricity. 

Unfortunately for you, you are wrong.

 

"I am not young enough to know everything" -- Ernest Woolley as an Oscar Wildean character in JM Barrie's 1902 play "The Admirable Crichton".

 

 

 

Wed, 02/12/2014 - 00:54 | 4426910 kurt
kurt's picture

We PAID for social security.

Wed, 02/12/2014 - 13:41 | 4428499 merizobeach
merizobeach's picture

"We PAID for social security."

And all of the wars, corruption, usurpations of liberty, etc, and you just kept on loyally paying.  Fuck you brainwashed taxpayers for relentlessly funding the evil that your government perpetuates on the entire world.

Tue, 02/11/2014 - 22:10 | 4426375 franciscopendergrass
franciscopendergrass's picture

More people retire means less people buying mutual funds/stocks/ETF's in retirement accounts.  The great deflation is gonna come whether Janet Yellen or her successors like it or not.  No central bank can fix demographics unless they start producing human baby factories.  Oh, didn't they have that in the Matrix?

Wed, 02/12/2014 - 02:56 | 4427116 Professorlocknload
Professorlocknload's picture

Or maybe some massive immigration?

Tue, 02/11/2014 - 22:57 | 4426386 Dr. Destructo
Dr. Destructo's picture

"Alchahol"?

Idiots are more prevalent in my generation due to a decline in quality of education. Many learn only what the institutions teach them -the lies, the pat on the balls, the 'free' money for college that gives them no practical information for their chosen trades.

What these idiots in the picture (and the one taking the picture) above don't realize is that the homeless man passed out in the streets can very easily be a window into their future. Who's going to hire these asshats in the private sector? A temp agency perhaps if they are lucky. Though the girl might make a pretty good prostitute. Though the military is always looking for compassionless killing machines for it's next overseas 'adventure' *cough* Syria and Iran.

A lesson I learned long ago is reality, like payback, is a bitch. These douchebags will learn that the hard way, and it will make them humble like it did for me. But luckily I learned that lesson before I went full douchebag.

Tue, 02/11/2014 - 23:22 | 4426636 edotabin
edotabin's picture

"Idiots are more prevalent in my generation due to a decline in quality of education"

 

Families have been obliterated and that plays a huge role as well, including being one of the many reasons for failing education.

Wed, 02/12/2014 - 00:25 | 4426830 Grande Tetons
Grande Tetons's picture

Doc Destructo,

Humility is the breaking system on the douchebagmobile.

Good for you, doc, for applying the brakes before skidding off into shithead cavern. 

 

Wed, 02/12/2014 - 10:41 | 4427754 Dr. Destructo
Dr. Destructo's picture

Don't lose hope, as more will follow down the road when the state of affairs worsen.

Tue, 02/11/2014 - 22:17 | 4426389 FreedomGuy
FreedomGuy's picture

I like the article but it misses the core problem: collectivism. None of these demographic booms or busts is a problem in a society where we are responsible only ourselves. Virtually every single social program is either a transfer which is theft or a ponzi like Social Security and Medicare where ever larger and more prosperous generations pay for their predecessors. When the number of people putting money into the systems fails to increase while the number demanding the return of their "investment" then the Ponzi unravels. When this unravels it will be quick, brutal and I think, unexpected. We got a small glimpse in the last downturn when all the numbers went into the red.

Congratulations, America. You have joined all others in falling for the empty promises of collectivism. But, hey...we fell last!

Tue, 02/11/2014 - 22:46 | 4426511 dexter_morgan
dexter_morgan's picture

+10000

Tue, 02/11/2014 - 23:27 | 4426646 LetThemEatRand
LetThemEatRand's picture

If the problem is collectivism, shall we all individually fight those who took the money?  How is that individual fight against the oligarchs working out for you and mankind throughout history?  Here's a little hint for assessing your ideology.  The people who own all the wealth consistently tell us that they earned it by individual achievement and that to take it from them would be socialist.  They laugh at you while you tell We The People to fend for ourselves and leave them alone. 

Wed, 02/12/2014 - 00:05 | 4426771 nowhereman
nowhereman's picture

Seems like they just decided to take the money and then tell us it's our fault for expecting our money was there in the first place.

Wed, 02/12/2014 - 00:25 | 4426826 therevolutionwas
therevolutionwas's picture

Who took the money?    Government, the State.   Get rid of the State.

The people who  "own all the wealth" don't  "all" deserve it.  Some do, some don't.  Some earned it, some did not.  I don't have much money but I will tell you to "fend for" yourself and leave me alone.  There are certain truths out there.  Discover them.

Wed, 02/12/2014 - 00:55 | 4426915 FreedomGuy
FreedomGuy's picture

That is a typical stupid collectivist argument. You might have made this argument in the age of monarchs and privelage where wealth generally derived from your place in government. Today, you have a job unless you started your own business. You made an agreement for the wages you got. Most wealthy people in America actually did earn it. Some are lucky like Paris Hilton and get it from dad and granddad's earnings but it is still family property. Frankly, we all need someone like the Hiltons, Ray Kroc, Steve Jobs or any number of innovaters who make millions of jobs producing things for our fellow man. Most of us do not have the initiative, energy, and expertise, much less capital to start a railroad, coffee house or robotics factory. I am not poorer because Bill Gates is fabulously wealthy. A whole raft of people got wealthy from their association with Microsoft. In the future they could go bankrupt.  

The problem is government. Walmart cannot raise your taxes, force you to register your car, require passports, force others to bail out your business or even monitor your PC. That is all the stuff of government. Government legally steals at least half your income...by law and you seem to be okay with that, EatRand. You worry about some nameless group of wealthy people you think stole your money while government confiscates your earnings for anything they damned well please in front of your face. They tell you they will take more if they like and this is okay. You will also buy car insurance, health insurance, shares in GM, Solyndra bonds and fund cow fart studies...or else.

So, let's assume you believe some banker, wealthy, crony-socialist conspiracies. Where do they get the power to steal and rig or fix the system to their advantage? Yes, government gives them this power. Government has the guns, money controls and surveillance networks to make it all work. All theft requires force and government has a monopoly on force.

Wed, 02/12/2014 - 11:27 | 4427905 Raging Debate
Raging Debate's picture

To FreedomGuy - Ding ding ding we have a winner! Congress can end the Fee anytime they so choose. It was politicos that had to sign off on the bailouts in 2008. It was politicos that repealed Glass-Steagall and other market protections from the predation of banking in 1998.

There is still so much money sloshing around and for most people getting to a the truth is difficult, even though the public is now finally wide awake (always seems to happen after the looting and human nature guarantees this for the masses). At the federal and state level elections mean nothing. At the local level they still do and it is far easier to find info on the local politician than others. Get involved. Try Rotary club for example to get your feet wet. Sure, it may be twenty years before you can run for Senator and really influence things but by then it will take more than money to win elections. As things continue stagnating necessity to move forward creates innovative ways to deal with. Plus at local level you meet new friends and create ways to increase income through networking. Just being here is a contribution, call it influencing the influencers (investment communtiy).

Knowledge is power so sites like these are great but the personal activity locally rounds out the rewards in trying to help. Start at an hour a week at Rotary or town hall meeting, or do some charity work like soup kitchen. I say this because its rewarding you get much back.

Wed, 02/12/2014 - 03:02 | 4427122 Professorlocknload
Professorlocknload's picture

The corrupt took the wealth enabled by the  protection of the State.

Wed, 02/12/2014 - 03:10 | 4427126 Professorlocknload
Professorlocknload's picture

Sorry freedom, I replied before scrolling down to your reply. You said it bettter than I could have.

Amazing how far this experiment has strayed from such simple principles!

Tue, 02/11/2014 - 23:52 | 4426726 Harry Dong
Harry Dong's picture

Collectivism is where we give the top .1% and their top 10% technocrats more and more? Maybe I'm confused.

Wed, 02/12/2014 - 01:45 | 4427022 kurt
kurt's picture

Collectivism rhymes with Jism, but you should know this, Dong.

Wed, 02/12/2014 - 00:00 | 4426754 nowhereman
nowhereman's picture

Wait,wait wait!

It seems to me that for my whole working life a portion of my income was witheld from me to fund my social security.  And during the 70s when interest rates were upwards of 20% those monies were doubling every 3 to 5 years.  Hell, I was rich.  I had no worries.  I was taken care of.

What happened to all that money? 

Let's not look at who stole the money, let's blame the boomers for actually expecting the money was there in the first place.  Let's blame them for actually believing the government was managing their money for them. 

Now the money isn't there. 

Do the math  How many working people were paying into the system through the 50's, 60's, 70's, 80's, 90's?  How much money in payroll deductions were collected during those many decades? 

Where did all that money go?  If it was invested on our behalf there should be plenty to go around.  The economy was booming.  Interest rates in the 70's should have ensured enough money for decades to come.

But, hey, it's all the boomers fault.  We were gullible enough to believe that the government and the social security administration were doing their job.

So to all you morons out there that think the boomers are to blame, grow up, get a grip, and stop falling for the neo-liberal bull shit that parades as ZH articles these days.

Wed, 02/12/2014 - 01:47 | 4427023 TBT or not TBT
TBT or not TBT's picture

It went into the lock box. The Dems told you so over and over. Until the debt crisis last year when Obama hit the TelePrompTer to tell you social security checks were threatened. I guess Ted Cruz stole the key to the lock box or something, because your money was in there, multiplying just like you imply throughout the 70's.....or was that sarc on your part. I'm two drinks in here this evening.

Wed, 02/12/2014 - 03:22 | 4427149 Professorlocknload
Professorlocknload's picture

Good thing you weren't allowed to put all that SS money in the S&P at 138 with dividends reinvested or in the Long Bond at 20%, back then. What would you do with all that money now?  Sarc/

 

Tue, 02/11/2014 - 22:15 | 4426393 Dead Man Walking
Dead Man Walking's picture

Simply a story of exponential growth.  It's actually much worse than you say, consider the exponential consumption of resources-water, oil, power,etc.

see "The most IMPORTANT video you'll ever see" great visualization of exponential growth-

https://www.youtube.com/watch?v=u5iFESMAU58

Tue, 02/11/2014 - 22:18 | 4426403 Cacete de Ouro
Cacete de Ouro's picture

"There was a time when you didn't WANT me to change" - Ron Jeremy - early years appearance

Tue, 02/11/2014 - 22:27 | 4426429 monad
monad's picture

Arm the seniors!

Tue, 02/11/2014 - 23:10 | 4426598 Dr. Destructo
Dr. Destructo's picture

I'd go with arming us Millennials -we have 10+ years of combat experience underneath our belts as a generation, and a good number of us veterans have woken up to the reality of the times.

Wed, 02/12/2014 - 01:33 | 4427006 Hengist
Hengist's picture

Yes but you all voted for Obummer twice, has it finally dawned on you that this was a bad idea?

Wed, 02/12/2014 - 10:36 | 4427593 Dr. Destructo
Dr. Destructo's picture

I didn't vote for Obombya at all.

I saw through that charade, but I agree with you that many of us did vote that asshole in -but that was mainly college students that were more excited of having the first black (mulatto) president instead of one that would get the job done i.e.  none of the above.

My American history teacher made this nausiating speech about how she was proud of us because we made history by electing that tyrant.

However, I would argue that voting really didn't matter, as we were choosing between a shit sandwich and a bucket of piss. It's a rigged process since the candidates are bought off by both sides and the 'representatives' rely on donations to measure progress instead of how well they represented their constituents. I decided by not voting I remove my part of the endorsement to a corrupt system.

Wed, 02/12/2014 - 00:51 | 4426906 kurt
kurt's picture

Attention all Geezers. Stay in shape. We PAID for Social Security. 

They say old boxers have One More Good Hit in them.

We may have to get together and smash em up once more.

Geezer Army of the Republic

Tue, 02/11/2014 - 22:32 | 4426445 GooseShtepping Moron
GooseShtepping Moron's picture

And this is just in America.

Demographics all over the world are in an absolutely miserable condition from the "growth" perspective. There will not be any more growth; there cannot be any more growth. Both the quantity and the quality of the human population is in absolute decline. Of course I'm not saying anything new here, but it bears repeating.

Wed, 02/12/2014 - 00:08 | 4426777 therevolutionwas
therevolutionwas's picture

Yeah, but China and other countries don't have social security and medicare to worry about.  Those folks are on there own and set aside for it. 

Wed, 02/12/2014 - 01:50 | 4427028 TBT or not TBT
TBT or not TBT's picture

Us ZH posters on the other hand, we are improving every day.

Wed, 02/12/2014 - 02:06 | 4427056 Seeking Aphids
Seeking Aphids's picture

....and in every way.....

Tue, 02/11/2014 - 22:37 | 4426480 drendebe10
drendebe10's picture

It's Bush's fault.

Wed, 02/12/2014 - 01:52 | 4427034 TBT or not TBT
TBT or not TBT's picture

Fertility changes depending on genital shaving fashions? Maybe. There was a tremendous amount of bush in the 70's, but I'm loathe to collect more data further back or much into the 80s either.

Tue, 02/11/2014 - 22:48 | 4426507 Atomizer
Atomizer's picture

Fact 23)

How much longer do you think you can poke holes in a leaky mess within this administration?

 

10 February 2014 |Request to Caitlin Hayden for Full NSA Comments

Submitted to the White House, 10 February 2014, 16:15.

To: Caitlin Hayden, National Security Council:

Hayden has been quoted in a recently published book, "The Snowden Files: The Inside Story of the World's Most Wanted Man," as responding to inquiries from the Guardian newspaper concerning disclosure of classified NSA documents, and quoted as well in a news report today, 10 February 2014, "The NSA's Secret Role in the U.S. Assassination Program," by Jeremy Scahill and Glenn Greenwald, concerning release of classified information about alleged NSA role in drone strikes. It would be beneficial for the public to have access to Hayden's full remarks in both these cases rather than snippets favoring the news outlets' side. I would like to publish Hayden's full remarks on the public education website, Cryptome.org, of which I am the administrator, which since 1996 has provided information on intelligence agencies. Thanks very much.

http://cryptome.org/2014/02/caitlin-hayden-wh.htm

Dear NSA,

You tell the African American in WH office, he has lost his mind and the credibility within the global community has vaporized. Economic terrorism resides from within this administration. Kindly show your taxpayer investment by protecting our country against a multi-national globalist take over.

Tue, 02/11/2014 - 23:18 | 4426609 Leaf of Tree
Leaf of Tree's picture

I always wondered why the term African-American when speaking about black people.

When whites use supposedly politically correct expression African-American, instead of American or simply black, I always interpreted that as a subtle way of saying you are African first, and then American, understand that boy. You don't belong here boy.

And blacks are too stupid to even see the subtle malicious connotations in that supposedly politically correct expression.

Black people in USA are American. Period.

They are not African - American. 

 

Ask someone whose ancestors came from Scotland to America 400 years ago if he names himself Scottish-American or simply American. Or just white.

Why do blacks in USA fall for these tricks?

Wed, 02/12/2014 - 00:16 | 4426800 Clowns on Acid
Clowns on Acid's picture

Seriously...do you really want to know...?

Wed, 02/12/2014 - 01:04 | 4426934 Leaf of Tree
Leaf of Tree's picture

Give it your best shot. After all, your ID is Clowns on acid.

This should be interesting.

Wed, 02/12/2014 - 01:57 | 4427041 TBT or not TBT
TBT or not TBT's picture

The mean in the distribution of their IQ's is to the left of that for the general population?

Wed, 02/12/2014 - 01:20 | 4426966 Negative1
Negative1's picture

I've got the answer right here...excuse me while I whip this out...

Wed, 02/12/2014 - 03:34 | 4427161 Professorlocknload
Professorlocknload's picture

Political divide and conquer techniques are most convincing. They are as old as political science.

Tue, 02/11/2014 - 23:09 | 4426595 RECISION
RECISION's picture

So where are we going to get the money?

 

A.)  Steal it.

B.)  Print it.

C.)  Borrow it.

D.)  All of the above.

Tue, 02/11/2014 - 23:11 | 4426603 Remington IV
Remington IV's picture

thank goodness for those death panels .... we'll need them sooner than we think

Wed, 02/12/2014 - 05:57 | 4427269 Dr. Sandi
Dr. Sandi's picture

When the time comes, death panels will come into existence locally, without governmental help of any kind.

Tue, 02/11/2014 - 23:17 | 4426628 SweetDoug
SweetDoug's picture

'

'

 

I'd like to see the percentage of the people able to retire, those lazy goddamn house cats, the government workers, where the fit in on the pension scale.

 

Top 10%. No problemo.

 

•?•
V-V

Tue, 02/11/2014 - 23:19 | 4426631 dexter_morgan
dexter_morgan's picture

methinks estimate #12 is way low

Tue, 02/11/2014 - 23:39 | 4426691 bugs_
bugs_'s picture

oh yeah, forget retirement, forget healthcare, forget 911, forget tap water.

Tue, 02/11/2014 - 23:54 | 4426730 Lord Koos
Lord Koos's picture

"We have made financial promises to the Baby Boomers worth tens of trillions of dollars that we simply are not going to be able to keep". 

 

Promises such as, the fuckers in Washington D.C won't spend all the money you paid into social security your entire working life?

 


Wed, 02/12/2014 - 06:01 | 4427272 Dr. Sandi
Dr. Sandi's picture

Hey, the feds had a few wars to finance with that money. And everybody knows that war is good for the economy.

Wed, 02/12/2014 - 06:10 | 4427282 Leraconteur
Leraconteur's picture

Until you Americans grow up and realise that you did not pay into something, this will never resolve.

spend all the money you paid into social security your entire working life?

SS was and is a tax. It was spent within 14 days of your receipt of your paycheck. That money is gone. G-O-N-E. Spent on roads, welfare, current SS recipients, War, Space Shuttles, and Obama's golf game.

Wed, 02/12/2014 - 00:00 | 4426746 yogibear
yogibear's picture

The government will do what it does best. A redistribution of wealth. Take from the people that worked and saved and give to those that squandered.

Like with corporate bailouts, privatize profits, socialize loses.

Wed, 02/12/2014 - 00:01 | 4426758 Yes_Questions
Yes_Questions's picture

We have made financial promises to the Baby Boomers worth tens of trillions of dollars that we simply are not going to be able to keep. 

 

Whose this we that you speak of?

Wed, 02/12/2014 - 10:37 | 4427741 Villageidiot777
Villageidiot777's picture

Baby boomers promised baby boomers that they keep their money safe. Not to be given back when needed, but when baby boomers see that baby boomers are FUBA. Makes sense, doesn't it.

Wed, 02/12/2014 - 00:16 | 4426799 22winmag
22winmag's picture

Why should today's yutes give a shit? They were born into this sorry excuse for a civilized society, they didn't create it.

Wed, 02/12/2014 - 00:20 | 4426812 wretch
wretch's picture

Sounds familiar.

Wed, 02/12/2014 - 04:15 | 4427200 MisterMousePotato
MisterMousePotato's picture

It is:

Dinosauria, We

Born like this
Into this
As the chalk faces smile
As Mrs. Death laughs
As the elevators break
As political landscapes dissolve
As the supermarket bag boy holds a college degree
As the oily fish spit out their oily prey
As the sun is masked
We are
Born like this
Into this
Into these carefully mad wars
Into the sight of broken factory windows of emptiness
Into bars where people no longer speak to each other
Into fist fights that end as shootings and knifings
Born into this
Into hospitals which are so expensive that it's cheaper to die
Into lawyers who charge so much it's cheaper to plead guilty
Into a country where the jails are full and the madhouses closed
Into a place where the masses elevate fools into rich heroes
Born into this
Walking and living through this
Dying because of this
Muted because of this
Castrated
Debauched
Disinherited
Because of this
Fooled by this
Used by this
Pissed on by this
Made crazy and sick by this
Made violent
Made inhuman
By this
The heart is blackened
The fingers reach for the throat
The gun
The knife
The bomb
The fingers reach toward an unresponsive god
The fingers reach for the bottle
The pill
The powder
We are born into this sorrowful deadliness
We are born into a government 60 years in debt
That soon will be unable to even pay the interest on that debt
And the banks will burn
Money will be useless
There will be open and unpunished murder in the streets
It will be guns and roving mobs
Land will be useless
Food will become a diminishing return
Nuclear power will be taken over by the many
Explosions will continually shake the earth
Radiated robot men will stalk each other
The rich and the chosen will watch from space platforms
Dante's Inferno will be made to look like a children's playground
The sun will not be seen and it will always be night
Trees will die
All vegetation will die
Radiated men will eat the flesh of radiated men
The sea will be poisoned
The lakes and rivers will vanish
Rain will be the new gold
The rotting bodies of men and animals will stink in the dark wind
The last few survivors will be overtaken by new and hideous diseases
And the space platforms will be destroyed by attrition
The petering out of supplies
The natural effect of general decay
And there will be the most beautiful silence never heard
Born out of that.
The sun still hidden there
Awaiting the next chapter.

-Charles Bukowski

Wed, 02/12/2014 - 03:19 | 4427147 Kelley
Kelley's picture

Today's 'yutes' won't be creating much of anything. They didn't invent radio, TV, cell phones, today's automobiles, DVD's, ATM's, or much of anything. They are relying on things older people invented.

Today's yutes have given us FaceBook, the world's mind sucking tool. 

In addition, a shocking percentage of you are on LONG TERM prescription drugs (30% of teens). In that regard, you're like 50 year olds. So no one should expect too much out of you.

I do expect a shocking percentage of your age group to have Alzheimers disease in their 30's.

Wed, 02/12/2014 - 06:00 | 4427276 Dr. Sandi
Dr. Sandi's picture

Us v. Them. Watch it now on pay-per view.

(All proceeds go to the fund to fund the fund for those with excess funds)

Wed, 02/12/2014 - 10:16 | 4426815 CitizenPete
Wed, 02/12/2014 - 00:28 | 4426836 Cabreado
Cabreado's picture

So, Mike...

you've ignited the generation wars again (and just today I was thinking that maybe we're getting beyond them).

Here's what I think:  you and everyone else should stop using the "deserve" thing until you address basic human nature, and fit it into appropriate context, time, history...

Certainly comparing "deserve" among "generations" is a fool's game, and serves no one.
(but it surely feeds some fire)

 

Wed, 02/12/2014 - 00:32 | 4426852 cynicalskeptic
cynicalskeptic's picture

The old contraact that workers had with employers has been voided by employers.  Used to be you worked for a company, put in your time and effort and got paid, got basic benefits and got a pension.  

Companies have looted pension funds and then dropped them entirely - often sticking government (taxpayers) with the accrued liabilities.  Social Security was meant to be a BASIC SAFETY NET - NO MORE.  Social Security was meant to keep the elderly out of abject poverty, out of the County Poor House.  

Employers have dumped health care coverage for the retired - while politicians have pandered to the elderly with more and more medical benefits.  Government pays for Rascal Scooters, Penis Pumos, Viagra and knee replacements for 400lb invalids who refuse to do the therapy needed to make them usable.

Employers have stuck government with the costs of their retired employees and politicians have pandered to this same group by giving them more and more.

instead of investing in our FUTURE educating our young and preventing any long term health care problems they might have (keeping them form getting worse and costing more) we are taxing our young to benefit the old, pandering to the PAST.

There should be rational expectations from people when it comes to what they should 'get' from government.  People should plan ahead and save for theor retirement.  But then government should not be screwing those that HAVE saved or are trying to save.  0.025% interest on savings when REAL inflation is 8%?!?!? WTF?

If you're smart you assume you will get NOTHING form anyone else - and WILL get screwed by government.  You're going to pay into government in the form of taxes, Soocial Security and more but the odds of ever seeing a real return on those funds is appraoaching zero as time goes on.   In the past an awful lot of people died before ever collecting pensions, Social Security or anything else.   Now you're STILL not going to collect - you just won't be dead.

 

Wed, 02/12/2014 - 00:41 | 4426881 Sandmann
Sandmann's picture

Once you give Everyman the vote it ceases to have value and the middle class no longer control political power and spending but simply ride the roller coaster and direct spending towards themselves.  It moves from a private sector self-employed bourgeoisie resenting taxes to a salariat maximising utility out of tax dollars

Wed, 02/12/2014 - 01:08 | 4426916 Leaf of Tree
Leaf of Tree's picture

Are you saying that poor people shouldn't be allowed to vote? Honest question. 

 

On a similar note, hear me out.

I'm a Romanian in his 30's. I want in Romania that voting rights be restricted to ages 18- 60.

Why? Because the people between 18-60 are the one that make up the bulk of tax payers.

Old farts obove 60 lived mostly under Communism and contributed almost nothing to Pension Fund, but now expect decent pensions from youngster and middle aged people that are forced to work hard in capitalism. Fuck'em I say.These old farts always vote the most incompetent socialists that promise all kinds of free shit.

The young of Romania are mostly on the Right of the political spectrum, but are outnumbered by the old farts.

Wed, 02/12/2014 - 01:35 | 4427005 TBT or not TBT
TBT or not TBT's picture

Dependent people shouldn't be allowed to vote, or their vote ought to be counted fractionally, or simply for some mock parliament.

Wed, 02/12/2014 - 06:04 | 4427277 Dr. Sandi
Dr. Sandi's picture

Do we disenfranchise the spouse that makes it possible for the other spouse to not be dependent?

Wed, 02/12/2014 - 00:41 | 4426873 Sandmann
Sandmann's picture

The War Economy created under Truman is what boosted US growth and Sputnik boosted spending on Colleges and University without reforming High Schools to match Soviet standards........the end-result Vietnam + Great Society + Herbert Marcuse........and a generation of activists determined to Spend........copied by Western politicians everywhere as a never-ending debt-fuelled narco-trip.

The fixes simply increased exponentially to service debt accumulated by heady expansionism until it ended up propping up banks and derivatives portfolios...........the motto of The West ?   REDUCTIO AD ABSURDAM

Wed, 02/12/2014 - 00:48 | 4426895 kurt
kurt's picture

Propaganda brought to you by Peter G. Petersen of Blackrock

Wed, 02/12/2014 - 00:55 | 4426908 The Heart
The Heart's picture

"This scandal is not over."

http://www.youtube.com/watch?v=Xz9oJDz-xI8

 

Wed, 02/12/2014 - 01:02 | 4426930 Coldfire
Coldfire's picture

.So where in the world are we going to get the money to take care of all of these elderly people?

What do you mean "we", kemosabe?

Wed, 02/12/2014 - 01:02 | 4426931 kchrisc
kchrisc's picture

" So where in the world are we going to get the money to take care of all of these elderly people?"

Government: Steal more by force.

FedRes: Steal more by 'printing.'

 

"Guillotine accounting: One in, two out."

Wed, 02/12/2014 - 03:15 | 4427143 Kelley
Kelley's picture

See my reply above. Today's youth will be the new (drugged) elderly by the time they hit 30 or 40.

IOW, it is a whole lot worse than the above article indicates.

Wed, 02/12/2014 - 01:15 | 4426955 Dre4dwolf
Dre4dwolf's picture

Right path? what path is that? the entire economy is based on pharmaceutical drugs and gambling.... little late for any "right path" bullshit.

Wed, 02/12/2014 - 01:15 | 4426959 I Write Code
I Write Code's picture

The real demographic shock wave is not "the boomers" but the much longer average life now after age 65, and really that change has already rolled into place over the past twenty years, it's "the greatest generation" that first lived 20+ years past the funding levels of medicare and social security.  So screw this "shock wave" stuff, it's more a rising tide and it's already risen.

And there is good news too, which is that we have food and fuel for everyone, even with only 10% seriously working.  What we don't have is a good distribution mechanism for it, other than the Fed's printing press.

In other words it ain't your grandpa's world anymore and it ain't never gonna be so stop whining and try to come up with something more constructive.

Wed, 02/12/2014 - 01:29 | 4426990 Hengist
Hengist's picture

Obummer care fixes everything, death panels takes care of the longevity problem with zero care and takes care of the promises at the same time, pretty awesome and we of Generation X salute the Baby Boomers for coming up with and voting for this in Congress and the Senate.

Wed, 02/12/2014 - 01:25 | 4426980 Negative1
Negative1's picture

SOYLENT GREEN IS MADE OUT OF SENIOOOOORS!

Wed, 02/12/2014 - 01:30 | 4426997 therevolutionwas
therevolutionwas's picture

Bon Appetit!

Wed, 02/12/2014 - 02:00 | 4427047 Akrunner907
Akrunner907's picture

ZeroHedge is abut 10 years late on this discussion.  It has been in discussion in Congress going back all the way to 1982 when they working out Social Security the first time, but didn't want to admit the problem.  

Wed, 02/12/2014 - 03:45 | 4427173 Professorlocknload
Professorlocknload's picture

They admited the problem, just that no one wanted to hear it.

Wed, 02/12/2014 - 02:27 | 4427070 zebrasquid
zebrasquid's picture

Aren't there more Millennials than boomers? Once Millennials figure it out, and their generation of politicians start pandering to them, the Boomers are going to be kicked to the curb. After all, Boomer Mom and Dad (or grandpa and grandma) will never know for sure that you voted to take their entitlements away...right?

I say this as a Boomer: can't blame you..we didn't pay as we went(even though some of us did vote against that irresponsibility), so we need to pay now by foregoing freebies). It's simple fairness and the only way to right the wrong. Starvation, lack of medical care..whatever...it's either us that take the hit at 70 or our kids who get screwed for decades. Chance to redeem ourselves. Time to pay the tab, Me Generation.

Wed, 02/12/2014 - 03:59 | 4427188 Professorlocknload
Professorlocknload's picture

Zero sum, is it? What if we simply took government out of the social welfare and legislating of morality business and just let the chips fall? Or, should I say, let the healing begin.

Sometimes I believe the Constitution should have started and ended with the first line in the first amendment, "Congress Shall Make No Law," and left it all to the States, where each could choose which laws he would prefer to live under.

Central Planning doesn't work.

Wed, 02/12/2014 - 09:32 | 4427525 Vooter
Vooter's picture

"Chance to redeem ourselves. Time to pay the tab, Me Generation."

LOLOLOLOLOL...yeah, okay. Just keep looking for my "payment"--it should show up any day now....

Wed, 02/12/2014 - 02:28 | 4427086 Mr. Crisp
Mr. Crisp's picture

Something like Detroit is our future. Unless we can revive meaningful economic growth again (...<snort>...), or cut gov't obligations (yeah, right).

America could still be saved, (maybe), if some real leaders with brains and guts started now.

 

Wed, 02/12/2014 - 02:33 | 4427091 mt paul
mt paul's picture

Detroit should grow marijuana

sell it to Colorado..

Wed, 02/12/2014 - 06:05 | 4427279 Dr. Sandi
Dr. Sandi's picture

Not a bad idea. At least they'd have incentives to bulldoze the remaining deathtrap houses for some open growing space.

Wed, 02/12/2014 - 02:40 | 4427101 gann1212
gann1212's picture

not to worry. zero hedge will fund the retirement system. what could go wrong

Wed, 02/12/2014 - 02:39 | 4427103 headless blogger
headless blogger's picture

Don't worry!! This is all going to be resolved once 200 million Chinese begin migrating to North America creating a huge tax base. They should start showing up en masse sooner than later.

Wed, 02/12/2014 - 11:06 | 4427852 Villageidiot777
Villageidiot777's picture

You are extremely optimistic. Sure chinese will come, work on their farms with their own kinds. They won't be contributing anything to rest of the society or at least very bare minimum. They will build a country within country, kind of like Vatican in Rome but much bigger and even meaner.

Wed, 02/12/2014 - 02:51 | 4427105 syntaxterror
syntaxterror's picture

Barackenstein will pay for it. And nobody will say shit about it.

Wed, 02/12/2014 - 02:49 | 4427109 OpTwoMistic
OpTwoMistic's picture

The 10000 a day is not reflected in the unemployment numbers.

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