Don't Blame "Boomers" For Not Retiring

Tyler Durden's picture


Submitted by Lance Roberts of STA Wealth Management,


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Thu, 05/15/2014 - 14:28 | 4763453 Slave
Slave's picture

Nobody can afford anything - Progress!

Thu, 05/15/2014 - 14:36 | 4763474 Major Major Major
Major Major Major's picture

You must not have heard about the 125% LTV re-tire-ment plan.  Just buy a $25 million house.

Thu, 05/15/2014 - 14:54 | 4763564 aVileRat
aVileRat's picture

It's ok, everyone buy a GM and go look at all those clothes horses at Cannes this weekend.

No seriously: Boomers spent 50 years of growth and are now zero ROE for 2007 highs, ex-non core inflation, ex-consumption implies they will never retire. Which if we use the sliderule of Japan when another "exceptional" generation did not want to get off the top of the food chain, the succession & wealth transition effect plumbing backed up.

Now with the exception of fast money billionares, how many top 30 under 30 have made something totally disruptive. Now top 40 under 40. Still nothing ? Now top 50 under 50.

Starting to see the problem ?

Hint, it's not because there is a lack of ideas outside snapchat & facebook. Warped investment incentives, limited seed capital & warped investment gimmicks are preventing new labour from joining the workforce which in turn prevents new ideas & products from developing or being spun out into growth co's.

While I was anti-junk bond for a long time, starting to come around to the Milken/Drexel point of view that the only way to get rid of this debt burden is not to pretend the Fed can save the world, but to admit that 90% of AA+ is dog crap, and let it float at the real rate, which is C+

Carveouts and entitlement restructuring if not the key theme of the 2018, it should be. starting this election round.

Or whatever: did you see Kim and Kanye get a tax break for hosting their wedding and employing local TV crews ? Awesome.


Thu, 05/15/2014 - 15:07 | 4763614 boogerbently
boogerbently's picture

Spoiled little whiners.

Whine if we retire, whine if we don't retire.

"Boomers spent 50 years of growth"

If that's true, YOU are to blame for the DEBT incurred over the last 6 years !

Are you accepting that blame......moron?

Thu, 05/15/2014 - 15:09 | 4763619 Headbanger
Headbanger's picture

Ever hear of the U.S. Government?

Thu, 05/15/2014 - 15:12 | 4763630 boogerbently
boogerbently's picture

It must be a NEW institution, not around for the last 45 years I've been working, huh?

Thu, 05/15/2014 - 15:52 | 4763783 dontgoforit
dontgoforit's picture

I'll be 64 in a couple of months.  If I were to quit working we would have to go live in the woods or under a bridge.  I don't blame anyone for it.  But it's true.  We would not be able to make it if I quit working.

Thu, 05/15/2014 - 19:08 | 4764497 Anusocracy
Anusocracy's picture

The problem for the last 225 years has been the ever-growing, over reaching,crime syndicate government.

The baby boomers were no more careless or short-sighted than any previous generation.

Thu, 05/15/2014 - 18:30 | 4764348 sessinpo
sessinpo's picture

 boogerbently      "Boomers spent 50 years of growth"

If that's true, YOU are to blame for the DEBT incurred over the last 6 years !

Are you accepting that blame......moron?


I believe boomers were a part of the last 6 years, and are still a dominant voting block. Moron?

Sun, 05/18/2014 - 20:20 | 4772280 boogerbently
boogerbently's picture

Yet, you delude yourself with the belief that Soc. Sec. will, or should, go away.

Thu, 05/15/2014 - 17:15 | 4764095 daveO
daveO's picture

Debt slaves don't retire.

Thu, 05/15/2014 - 14:28 | 4763454 yrbmegr
yrbmegr's picture

We need to eliminate the tax advantage capital enjoys in this country relative to lablr.

Thu, 05/15/2014 - 16:54 | 4764024 DerdyBulls
DerdyBulls's picture

In the US, most "lablr" don't pay income taxes. Neither do the parasites. Tax advantages of capital... Hmmm, I need to check with my accountant about that one.

Thu, 05/15/2014 - 16:56 | 4764030 DerdyBulls
DerdyBulls's picture

Oh, and company's don't pay taxes. They collect them for our overlords and pass the expense on to consumers.

Thu, 05/15/2014 - 14:29 | 4763458 Dumpster Fire
Dumpster Fire's picture

long cat food then

Thu, 05/15/2014 - 14:35 | 4763475 GubbermintWorker
GubbermintWorker's picture

Nah, I feed our cats canned tuna, sold for human consumption. Its actually cheaper than canned cat food?!?

Thu, 05/15/2014 - 14:43 | 4763514 NotApplicable
NotApplicable's picture

So do I. We supplement dry food with a can split between 3 dogs and 4 cats to ensure they're getting something along the lines of real food.

Otherwise, obesity and diabetes becomes a problem as they starve nutritionally.

Thu, 05/15/2014 - 14:48 | 4763536 Zirpedge
Zirpedge's picture

Cat food is fit for human consumption. It's the dog food that is rancid meat full of prions.

Thu, 05/15/2014 - 15:07 | 4763610 the not so migh...
the not so mighty maximiza's picture

long cat as food then

Thu, 05/15/2014 - 14:31 | 4763462 CrashisOptimistic
CrashisOptimistic's picture

In the article, I had a problem with this:


"It is ultimately fiscal policy that will help business create employment"

How sad is that?

Thu, 05/15/2014 - 14:43 | 4763513 I Write Code
I Write Code's picture

It's dazed and confused.

Thu, 05/15/2014 - 15:43 | 4763740 Schmuck Raker
Schmuck Raker's picture

Let's reword it:

"It is ultimately fiscal policy that will hinder business in creating employment"

Thu, 05/15/2014 - 15:45 | 4763752 Jaspergers
Jaspergers's picture

Those are some pretty gorgeous chart formations though....mmm....yeah.....TfnA

Thu, 05/15/2014 - 14:33 | 4763470 GubbermintWorker
GubbermintWorker's picture

Fuck that, I'm retiring at the age of 62.

Thu, 05/15/2014 - 14:37 | 4763482 bnbdnb
bnbdnb's picture

"In the meantime, stop blaming "baby boomers" for not retiring - they simply can't afford to."

I will blame them all day. Who needs brand new cars every two years, two cruises a year, two extra vacations a year, a yacht, a motorcycle, four college educated children and no life savings? Oh thats right, I'm talking about you dumb baby boomers.

Thu, 05/15/2014 - 14:45 | 4763522 GooseShtepping Moron
GooseShtepping Moron's picture

I will not only blame baby boomers for not retiring, I will blame them for a great many other things besides. Probably more destruction has been wrought by that generation than any other, which will only become apparent as their numbers and influence start to wane. In another 5 years or so, when the boomers no longer exert their wealth-creating and wealth-absorbing effect (probably about the same time Mick Jagger finally croaks), we'll see just what kind of world we're living in, and it will not be pretty.

Thu, 05/15/2014 - 18:16 | 4764281 daveO
daveO's picture

5 yrs of is optimistic. They'll be around longer and take the country down with them.

Thu, 05/15/2014 - 20:21 | 4764748 MeBizarro
MeBizarro's picture

Yup. Boomers really took over in '92 politically for the first time and just look at what the two parties combined have past and implemented the past 20+ years.  There are a few positives including welfare reform in '97 but on the whole these bastards have spent like drunkards, greatly expanded retirement benefits (MMA Act of 2003 which remains the most expensive piece of legislation since Medicare in '65) implemented tax policy which didn't remotely pay for expenditures, 'financialized the economy,' cut investment in infrastructure as a % of GDP in a massive way at the federal level, and fought 2 massive and extended wars for the first time in American history without raising taxes or war bonds to fund them. 


Thu, 05/15/2014 - 15:06 | 4763609 corporatewhore
corporatewhore's picture

Actually, we should be praised in keeping this economy going although we did it through the use of debt and the sense that we couldn't take it with us.

As an alternative, would you have preferred our generation to have lived Woodstock rather than outgrow it?

Thu, 05/15/2014 - 15:10 | 4763621 GooseShtepping Moron
GooseShtepping Moron's picture

You did live Woodstock and never outgrew it. That's the whole damn point.

Thu, 05/15/2014 - 15:18 | 4763650 corporatewhore
corporatewhore's picture

We sold ourselves out to our corporate-fascist state so that sniveling little snots could complain about us once we got old.  Please take your cellphones and shove them up your fucking ass.

Thu, 05/15/2014 - 15:42 | 4763735 blackholes
blackholes's picture

You definitely sold yourselves out.


Thu, 05/15/2014 - 15:58 | 4763747 GooseShtepping Moron
GooseShtepping Moron's picture

I don't use a cellphone--never have. I'm not on Facebook either.

As I said below, I've been taking care of my boomer mother since I was 19. I was also busy shuffling my boomer father in and out of hospitals and rehab centers for his alcoholism, until he decided to leave and live the life of a homeless man. I paid off the debt, helped my sister to get married, moved my mother out of the ghetto, and finally convinced her to give up the drinking, the drugs, and the sleazy boyfriends.

So save your opprobrium for yourself. It was not my fault you sold out. The boomers had plenty of opportunity to make the country a better place and instead they wasted it all. Your righteous indignation will ring hollow from now until the end of time.

And before you go blaming the younger generation for their faults, just remember whose job it was supposed to be to raise them and teach them.

Thu, 05/15/2014 - 16:01 | 4763824 spooz
spooz's picture

Gotta appreciate how well the divide and conquer tactics serve the powers that be.  I raised my kids very well, and none of the still clinging to their middle class identity relatives, friends and neighbors suffered the kinds of problems your family has.  And we are all disappointed that our kids are having such a hard time finding living wage jobs.  Many of us had children to give meaning to our lives, and thinking that they will struggle for survival after we die makes the whole thing feel hollow.  

Sorry you were raised by people who weren't fit to be parents, but your experiences are not like the majority of those who call themselves middle class.

Thu, 05/15/2014 - 16:14 | 4763886 GooseShtepping Moron
GooseShtepping Moron's picture


I did not mean to imply that my experiences are universal, nor that I am some kind of hero. I went pretty far down the wrong track myself in my youth; considering the environment I was in, it was almost inevitable. When I realized my family needed to change, I had to grow up real quick and make momentous decisions I was not quite prepared to make. In consequence I have develpoed a personality that is unwilling to suffer fools gladly. Please accept my peace offering, for what it's worth.

Thu, 05/15/2014 - 16:48 | 4763996 Cathartes Aura
Cathartes Aura's picture

that which doesn't kill you. . . cliche'd but often true.

however, tarring whole age groups with the same brush is just lazy/ignorant, and feeds the system that has everyone pressed under elite thumbs.

I for one appreciated your telling a more honest tale of parental slacking - both of them - rather than going with the whining lies that it's the "single parenting" wot killed this Great Nation. . .

taking personal responsibility is a strength.

Thu, 05/15/2014 - 16:31 | 4763959 Harbanger
Harbanger's picture
Romans 5:3

And we are also happy with the troubles we have. Why are we happy with troubles? Because we know that these troubles make us more patient. And this patience is proof that we are strong. And this proof gives us hope. And this hope will never disappoint us. We know this because God has poured out his love to fill our hearts through the Holy Spirit he gave us.

Thu, 05/15/2014 - 16:58 | 4764040 Rubbish
Rubbish's picture

WTG Goosey, I applaud the road you took.

Thu, 05/15/2014 - 18:18 | 4764290 daveO
daveO's picture

Immature is the word. I'm related to a 60 yr old 'child', a clueless child who thinks the sun rises and sets in Obama's...

Thu, 05/15/2014 - 17:47 | 4764138 Slave
Slave's picture

The boomers sucked, voted, and smoked all the money out of this country and gave it to China and the oligarchs. Their legacy is one of debt and delinquency. Look at the children they left behind. Look at the government they left behind. Look at the debt they left behind. The next generations are even worse. I'm not even 30 years old. I'm disgusted at the world I was born into. The boomers quite possibly lived during the height of prosperity, totally oblivious to the fact that it was completely charged on the credit card and unsustainable. And after they're all dead, we'll be left to pick up the pieces. We need to be honest about the problem: the boomers lived well so that we couldn't.

Enjoy the neverending depression.

EDIT: Here's an idea, motherfuckers, instead of downvoting you respond and tell me where I'm wrong? My insurance that I don't even use costs a fuckton of money just to pay for your old dying ass. You should be paying for that too, but no, you kick it to us. I won't ever get back any of the money I put into the socialist ponzi systems you are enjoying the benefits of. My generation gets paid nothing because your unions sucked it all dry. Tell me where I'm wrong. Or can you not?

Thu, 05/15/2014 - 18:26 | 4764332 daveO
daveO's picture

They were born at the most prosperous time. The TV completely brainwashed them or, at least, 90% of the ones I'm related to. Then, to cap it off, Nixon removed the Gold standard. This allowed wave after wave of debt to be created. TV then encouraged them to constantly go into more debt. When the ME generation dies, their debt will (is) be papered over with inflation.

Thu, 05/15/2014 - 18:44 | 4764389 Bear
Bear's picture

Hey Slave ... do you know what 'Sense of Entitlement' means? Just because you're Slave doesn't mean that you need to think like one.

If you think you got such a raw deal being born into the US and it's crappy society ... you could always move to Nigeria

I was born poor and didn't even know it until I got to High School, but what I did know was that I could go whatever by brains, personality, and ingenuity could take me ... there was no limit. I worked very hard for a very long time and succeeded in putting away a chunk of change.

Each generation is responsible for the next and I will leave all of my children a legacy of a free college education, thrift and hard work ... and oh, money too.

I am afraid that unless you rethink your approach to life you may leave a legacy of bitterness, resentment, and entitlement to yours.

Thu, 05/15/2014 - 19:56 | 4764681 Slave
Slave's picture

You might want to reread my post instead of reading into it. I'm not entitled to a fucking thing, and I don't want to be. What I don't like is being born a debt slave. To deny the part the boomers played in that is to deny history.

Thu, 05/15/2014 - 15:08 | 4763617 Totentänzerlied
Totentänzerlied's picture

I like the analogy of yeast in a vat full of sugar. The boomers are the yeast, the vat is postwar America up to the 70s, and the sugar is oil (or it's proxy, US dollars as world reserve currency).

In both cases, all the rest is a fait accompli.

Thu, 05/15/2014 - 19:31 | 4764591 GubbermintWorker
GubbermintWorker's picture

I didn't do all that and is why I'm able to retire at 62 :P

Thu, 05/15/2014 - 15:09 | 4763491 Cthonic
Cthonic's picture

 'While the Fed has inflated asset prices to the satisfaction of Wall Street, as shown in the first table above, it has done little for the middle class.'  It has also kicked the lower class square in the nuts, though it is impolite to bring these externalities up without first plowing the good doctor with her favorite aperitif ~ plasma des enfants, tiers-monde.

Thu, 05/15/2014 - 14:41 | 4763505 I Write Code
I Write Code's picture

It's not so much "can't afford" as "don't dare".

Don't know where prices are going.  Don't know when SSN will be cut.  Don't know when Medicare will be rationed and you'll need gold to bribe someone for care.  Don't know when QE will crash the economy and bread goes to a million dollars a loaf.  Don't know when Vietnam will attach China or Korea will attack Japan or Iran will attack Israel or an unidentified nuke goes off in NYC.

Also - a lot of boomers are reaching age 65 in pretty danged good physical shape, and have all their lives held jobs that don't involve any heavy lifting anyway, so why stop now?  Likely to live another twenty years, may need more money from now to pay the nurses then.

Thu, 05/15/2014 - 15:11 | 4763626 okyoureabeast
okyoureabeast's picture

I wouldn't worry too much about hyperinflation occuring. If such a scenario occurs, the fed would force the TBTF banks to start buying back those toxic MBS and other treasury items to suck up the liquidity as fast as possible.

Hyperinflation would destroy the country. That's something the deep state doesn't want to occur. However, such an event would make all of the outstanding debt impossible to pay as deflation would be rampant. Housing prices would plummet, taxes will fall, etc etc. I wouldn't be surprised at that point if the government decides to eliminate social security and other welfare programs to avoid the nightmare of defaulting. 


Thu, 05/15/2014 - 16:10 | 4763863 I Write Code
I Write Code's picture

In (hyper)inflation prices don't plummet.

And the "deep state" already f'd up bigtime in 2008, next time the fire.

Thu, 05/15/2014 - 18:29 | 4764344 daveO
daveO's picture

HI is caused by foreigners abandoning a currency. Bankers wouldn't have too much control. Petro Dollar status is the key.

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