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A Generational Storm Is Coming
Submitted by Bill Bonner via Bonner & Partners,
Yesterday, we began our high-minded graduation speech to the Class of 2015.
We explained how the young graduates were not only the most heavily indebted in history, but also the least likely to be able to pay their debts. Median wages have been going down since these graduates were about five years old … So have economic growth rates.
Today, we continue the speech no one wants us to give …
You are heirs to claptrap, nonsense, bogus theories, and trillions of dollars in debt. The systems, programs, and institutions your parents set up are mostly worthless scams. Worse, they produce outcomes contrary to their stated goals.
Welfare programs do not help people escape poverty; they keep them mired in it. Health care programs do not make them healthy; they make them dependent on the drug industry.
Defense industry spending doesn’t make us safer; it funds drones, bumbling interventions, and assassinations… and it creates more foreign enemies. We end up not only poorer, but also less secure.
All of those assertions take more time to explain and prove than we have time for now. But here’s a little example that you will appreciate…
25 Years of Poverty
Under President Johnson, the government set up the Federal Direct Student Loan Program to provide “low-interest loans” (back then, “low” meant 8%) to students.
Private lenders make the loans, but they receive the full backing of the feds.
The idea was to help you afford higher education… and earn larger salaries as a result. And with your increased earnings you were supposed to be able to pay off the loan. But at over 11% of outstanding debt, the Student Loan Program now has the highest delinquency rate of all forms of household debt (mortgage loans, auto loans, credit cards).
And it will probably go much higher… as students take on more debt. Total outstanding student debt is expected to bubble up to $3.3 trillion by 2025. What do you do if you can’t pay? Well, the feds have a solution for you. The trouble is, it turns you into the very thing the program was meant to avoid. Here’s how it works…
As long as your income is low, you are allowed to make small token payments every month. Keep this up for 300 payments and your debt is considered satisfied, no matter how little you paid. In other words, the Student Loan Program encourages you to live in poverty for a quarter of a century to get rid of your student debt. Most likely, this will be easy for you to do anyway.
Ideal living arrangements to avoid liability for one’s student debt. You only need 25 years of this …
First, because most college degrees do little to make you more valuable to employers. Second, because your parents’ rigging of the economy will make it difficult to make any financial progress anyway. The median household income – after you account for inflation – has been falling since the late 1990s. And good jobs are hard to get. There are fewer “breadwinner” jobs today in America than there were in 1999.
And you can forget about starting your own business. The rate of new start-ups is collapsing. (Remember from last week that the U.S. ranks 46th on the World Bank’s list of the easiest countries in which to start a business.) You can thank your parents for that, too. The system is designed to protect them, their Social Security benefits, their health care, their stock market portfolios, and their businesses. Protect them against what? Against you!
You are the future. You are the competition. You are the ones who should want to shake things up and tear down the walls of bureaucracy, taxes, paperwork, and regulation that make it so difficult for you to start new businesses, get good jobs and build real wealth.
You should be talking revolution – overthrowing your parents’ multitrillion-dollar debts and pulling out of their wars on poverty, illiteracy, Iraqis, Afghans… you name it. You need to stop these silly, pointless, and expensive programs so you can have the resources to pay for your own programs and launch your own stupid wars.
You need to get rid of your parents’ zombies – the millions of unproductive people who get money from the government – so you can afford your own families … your own pet projects … and zombies of your own.
A Suicidal System of Credit
You need to stop your parents’ suicidal credit-based money system, too. You don’t know about this, do you? Your professors of government, politics, economics, and finance didn’t mention it, did they?
Well, the system is corrupt and self-destructive. It works only by increasing the amount of debt in the society – including student debt. And it works only until the debt bubble gets so big it blows up. But there’s a logic to it… a sinister logic that turns you into chumps for older generations. Spending on credit favors the existing owners of capital … and people who have existing claims on the government money. Let me explain …
When the government borrows money it gives the money to a zombie to spend, or it spends it directly. Usually, the money goes to an older person – your parents or grandparents – in some form of social welfare subsidy, pension, job, contract, or support program. When they spend the money, it goes into the coffers of corporations. This increases profits… and share prices. Who owns those corporations? Do you? You don’t? Then who does?
Your parents and grandparents benefit again. They are the owners of the nation’s financial assets. By increasing credit, they shift real wealth from the future to the present … and from you to them. This is the money you haven’t earned yet.
I’ll spell it out for you: The government borrows a dollar. It gives the dollar to one of its pet zombies. (It could be a health researcher, a drug addict, or somebody who makes bombs.) The money goes – one way or another – to a corporation, which registers it as a sale.
If it has a 10% profit margin, 10 cents is recorded as a profit. If it sells at a price-to-earnings ratio of 20 times, its stock price goes up $2. This makes the owner of the stock – it could be one of your parents – $2 richer. (I’m oversimplifying … but you get the point.)
But the government now owes $1 more. And who’s going to pay it? You are! Your parents and grandparents are retiring… and collecting their Social Security and health care benefits. They think they will be able to sell their stocks, too … and their houses … and have even more money to spend.
Time to Wipe the Slate Clean
Now, it’s up to you …
You need to get a job so you can pay for their health care benefits. You need to pay your taxes so they can keep their wars going. You need to buy a house, too, so they can move to Florida and retire. You need to vote for their candidates … work for their companies … and pay their bills.
This is the test you face. You are arriving in the economy at the tail end of a 60-year credit expansion. Debt has boomed. The economy has boomed. We, your parents, enjoyed an economic expansion that began when we were born and continued, with only short interruptions, until we retired.
We got out of school with little or no student debt. We could start businesses with fewer impediments. We could borrow money to fund our businesses and our lives. We could hire, fire, switch jobs… buy and sell houses… move from place to place.
We were freer – and richer – than you will be …
… unless you can wipe the slate clean of our debts … our foolish wars and dumbbell programs … and our attempts to hold back the future and prevent you from living rich, full, free lives of your own.
If you don’t rise to this challenge, you will inherit our bills, our regulations, our restrictions, our obligations, our delusions, our prejudices, and our vanities. You will also inherit a financial crisis – worse than the crisis of 2008 – and a long and grinding economic slump.
The debt expansion of the last 60 years will turn into a dreary debt contraction, possibly dragging the economy into another Great Depression. Either you find a way to shuck off, default on, or inflate away your parents’ debts… or you’ll stagger under the weight of them for the rest of your lives.
Either you break free from the jackass things your parents have done to you … or you deserve what you get.
Congratulations, chumps.
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"Kids in second grade start getting 3 languages"
Yep.
Arabic, slang and a little bit dutch.... in the big cities.
Yep, Bank student loans also in Europe. except university, school is mandatory for under 16 so its """" free"""". ( Somebody else has to suffer to pay taxes....and has to shut the f*ck up)
Result: More and more aggressive youngsters at schools, knifes yes, no too much guns yet, but that is a matter of time, no involved parents and lazy teachers.(83-54= ? is difficult for them)
You have to understand this:
If rights replace free markets it will end up in chaos.
If you have the right to go to school, lessons will be free, and therefore...worthless ....because of those rights you don't have to buy anything. Somebody else has to pay the bill, somebody else loose his/her freedom.
Do you know who are fanatic students in the netherlands ?
Chinese students.
Lots of gibberish there.
What city do you live in the Netherlands?
You are so full of crap, I don't know where to begin. 4 languages, English, German ,French or Spanish.
I suspect you are another American who have never been to the Netherlands and just spews the crap fed them by FOXCNNABCCBSNBC.
Have a nice day Bozo.
Loose=opposite of tight
Lose=Opposite of win.
Pffftt!
DutchBoy2015, Yeah, but.........
You don't have 14 nice, new, shiny nuke carriers filled with $ gazillion planes and electronics. You don't have troops in over 120 countries and the FBI there supporting the coups. You don't have building after building in multiple states with double-clutching super computers spying on the world.
And, you don't have specially trained door crashers coming into your houses looking for non-violent drug users. Hey DutchBoy, that shit costs money. Just who in the hell has Den Haag overthrown lately? I didn't think so. You are too busy wasting money to improve your students/populace whereas you could be special, like us, the world grand potentate of liberty (puke). You could have shiny new nuke subs with 16 gigaton nuke missiles to blow that fucking Syria off the map. We are tough, we are the envy of the world, WE ARE EXCEPTIONAL!!!!! INVINCIBLE!!! /sarc.
Or, at least we once were a decent, respected country. I wonder why we have to hitch hike to the space station on evil, inferior Russian rockets? What's with that? Sumpin' don't smell right.
I came from a family that if you got bad grades on your report card, you almost dared not to come home. :-)
You make an excellent point here. However this is a very large country and in the Intermountain west the only non English languages I ever hear spoken is Spanish, Arabic and Vietnamese. Apparently it is becoming politically incorrect to speak Spanish and/or Arabic. I use Spanish seldom and know a smattering of Russian and German which is about never used. But you're absolutely right, people need to be ready to travel and adapt.
I was born early in WWII and my father died on Okinawa. I can't remember my mother who made fine gold and silver jewelry but this isn't a sob story. I was raised by my paternal grandparents, my grandma having herself been raised by her paternal grandma could tell me stories from people who lived through the Civil War. My grandfather fought in WWI and went on to work for then "Ma Bell" until he died at age 49, leaving just grandma and me. These were all very intelligent people who knew a great deal about many things and it saved their bacon. The Great Depression didn't hit them as hard as many people but my husband was born in 1932 had a hard time and both his parents had jobs. All this said, it is incredible what a mess we're confronted with and the fallout, tragically, will be too much for many in all generations. I know it's been said before but kids who have grown up in cities and subdivisions with play dates, teams and busy work are ill equipped to survive even an earthquake or hurricane much less the horror staring us down right now. My best advice is to learn a number of trades and crafts well. Go to school if you're sure it's the best thing to do, but have those trades and crafts to boot. Learn to live happily with less or just barely get by in misery. Our country has been so exploited that people will turn on each other along lines that are already showing. Study the Cubans before Amerika wrecks the place. Study the Russian collapse, Club Orlov is excellent for this. Study those who still work the land cleanly and simply. There is just NO easy way anybody's going to live though this mess. I look at our only grandson who's 7 and have hope. With his fireman fathers help he's keeping bees, raising a garden and knows the natural world and does beautifully while helping grandma solve tec problems on her computer. So stop playing the blame game and pick out some things you'd love to be able to do if the computer didn't exist.
Very good post. Mental math is drummed into kids here starting very young, NO CALCULATORS allowed in class.
Because virtually everything you do in life involves MATH. Its the most important thing that kids need plus reading.
When I was going to high school in the early 60's I took typing as an elective course in my senior year. Lots of guys laughed at me saying ''thats a girls thing''. I said ,right, all the hotties were in the class and me and another guy the only boys. haha
However, because I learned touch typing it paid off later when computers became prevalent. Even my wife looks at me and marvels that I don't have to look at the keyboard while typing and can pump out about 300-400 characters per minute.
This article may contain some genuine truths about what awaits the young generation of today, but it is wrong to blame the current mess on to the older generation.
Truth is that every generation seeks to better their life through any means possible. The political elites are well aware that buying votes by offering ever nore free stuff is the way to get elected.
In 40 years, the young generation at that time will be blaming their impoverished future onto their parents who are the young generation of today.
Successive generations of political elites are far more to blame than ordinary people because they are/were in a position to know that their model of debt was never going to last long.
It's really as simple as that.
doesn't matter who you blame it on.
it is what it is.
and the collective you
got the collective you
to where the collective you is today.
so don't blame anyone just fix it
that's the american way, i remember.
but that was a long time ago
Work. A four letter word. Fail. A four letter word. When you take away the real world penalties for failure. When you take away the need to work for survival you take away the very real result of consequences for inaction. I have gone to bed hungry. I was thankful I had a bed. I have eaten apples and peanut butter while in junior college. I have washed dishes in a restaurant until midnight while in college and sharing an apartment with older sister. I will be 60 in June. I don't recognize my country any more. No one wants to be accountable for their own actions or inactions. If you don't work you shouldnt eat. Period. If you are able bodied and on foodstamps you should clean streets or highways. Period. You take a drug test monthly if you are receiving any kind of government benefits to include EBT, Rent or medical care of any kind. If you test positive you no longer get aid for six months of "self actualization." Formarly know as consequences.
I have helped with a homeless breakfast feeding those "less fortunate" than my self. It is quite amazing to me that these people without a roof over their heads can afford 8 dollar a pack brand name cigarettes. They can sit on park benches drinking cold beer on a hot summer afternoon in the shade a a tall oak tree. They can rely on the good hearted folks who are out there working every day feeding them a hot breakfast and dinner at several locations through out our city. Many are mentally ill, many choose to live inside a bottle. Many choose to just take it easy and drink. Choose. Yes choose to be homeless. If you dont believe me just volunteer to work for a while with them. Ask them. Talk to them. Turn on, tune out and relax.
The man in the mirror is the one you have to most comfortable with. If you don't like what you see looking back at you only you can change it. I think a hard days work and a quart of beer would kill most American "millenials." We have "men" who shave their chests and their nuts. We have men who have ball bearings hanging out of their lips and eyelids waiting on us at the local 7-11. We have "men" who have their feelings hurt unless they get a trophy for showing up. In the real world you will get your "feelings" hurt. See, we work to make money. When you work to make money you have real world competition. Period. Feelings don't build companies. 6 months of "family leave" to stay home and raise your new offspring as Mr Dad has to come from someones pocket.
Do you know why Holstein male calves have one thing in their near future? The only thing they can produce is veal or meat unless they are kept to become bulls for breeding. America is a Holstein male calf now. We are being kept now for one thing. Meat for the predators who have taxed and gutted those willing to still be ruled over with an iron fist. I believe we are at a a tipping point. I think we are in for a long hot summer in our hoodrat ghettos. I think I am glad I can survive. I am glad I don't look to lay blame at anyone else for where I am in life. I am comfortable with the man in the mirror. I have no regrets. I am looking forward and not back. When you look back more on your life than forward you will become old quickly.
America was built on hope for the future. It is waning. It is wanting. It is lacking. It is dissapearring before our eyes. It saddens me but it will not kill me. Sorry if I have ranted on too long. Good day all.
Rant on my friend, rant on...
Work, any kind of work is therapeutic. My father made me go to work when about 12. After school paper route. I got no allowance ever, and made my own allowance. He said, you have to learn how to work. No matter what vocation you take up in life , you must learn how to work.
I am now retired and quite well off. But I still must do something everyday. I am into gardening and some if it entails hard work. I don't get paid for it in MONEY but I feel like a million bucks when I accomplish something.
Lots of older folks around me are volunteers and WORK helping others., They don't get paid for it in MONEY., They know the value of REAL work.
There is such a thing as positive peer pressure. For example, here in NL and in Germany and other European countries. If you don't try and keep your home and garden and yard tidy, your neighbours will let you know. In the USA , people look at that and say 'Mind your own business''. Because it is ingrained into people here at a young age, it carries over into adult life. My neighbour's home is empty most of the time because he lives in France. I mow his lawn , because I have to look at it, and it keeps the neighborhood looking nice. He brings me a case of wine every year when he comes here., I don't ask for anything.
Work, any kind of work is therapeutic. My father made me go to work when about 12. After school paper route. I got no allowance ever, and made my own allowance. He said, you have to learn how to work. No matter what vocation you take up in life , you must learn how to work.
I am now retired and quite well off. But I still must do something everyday. I am into gardening and some if it entails hard work. I don't get paid for it in MONEY but I feel like a million bucks when I accomplish something.
Lots of older folks around me are volunteers and WORK helping others., They don't get paid for it in MONEY., They know the value of REAL work.
There is such a thing as positive peer pressure. For example, here in NL and in Germany and other European countries. If you don't try and keep your home and garden and yard tidy, your neighbours will let you know. In the USA , people look at that and say 'Mind your own business''. Because it is ingrained into people here at a young age, it carries over into adult life. My neighbour's home is empty most of the time because he lives in France. I mow his lawn , because I have to look at it, and it keeps the neighborhood looking nice. He brings me a case of wine every year when he comes here., I don't ask for anything.
Your Dad made you work?
Mine didn't, but we had a rule. After you did your unpaid chores, you were free to earn all you could because if you wanted something, you had to earn the money to buy it.
Kids like toys. Mowing lawns, shoveling snow, painting and paper routes were highly prized occupations that minor wars were fought over to possess and keep. I helped my Dad wallpaper our rental apts. so I learned a lucrative skill that was much in demand back in the days of a hot steamer and mixing wheat paste.
Working a job builds workers. Making a job builds entrepreneurs.
Pure clarity
Outta sight
Could never understand the whole men shaving their chests and nuts thing...straight men I mean...I know young men would do almost anything at all to get laid, sure, but if a hottie wants you to shave those you must either have: a) the makings of an animal pelt or b) she wants a live Ken doll.
I can also understand men being in touch with their feelings too as we are also human...but some of these dudes are out and out pussies and there's no nice way of saying it.
The big problem here is that employers insistence upon college degrees for jobs that don't require it. This is very illegal and represents how modern racism is employed in this country.
http://en.wikipedia.org/wiki/Griggs_v._Duke_Power_Co.
If you want to fix the debt problem, then require 4 year colleges to honor JUCO credits. Kids can go to JUCO while living with their parents and accrue very little debt especially if they have a job. A great deal of the kids that ought not be in college will wash out in those first two years. After that pursue an engineering degree or something else that is meaningful at a state college. A state college was good enough for me and is good enough for you. The H1B exists for no other reason than American kids aren't interested in technical degrees that lead to high paying jobs.
I learned a trade (aircraft mechanic and then Flight engineer). I have never had an employer ask me for a college diploma. and I have worked worldwide and probably earned much more than college grads
You can teach a monkey to ride a bike, but you can't teach it to fix one.
Right! A LICENSE is better than a diploma. Of course there are some wings of some professions which are exempt, because the government goes out of its way to make them exempt. "Military contractors" of various sorts, for instance. But even many college diplomas are merely pieces of paper which allow you to start your 10,000 hourse of practice, as a trainee, and then take your test to get that LICENSE.
Because the Grade 1-12 education in the USA totally sucks compared to the rest of the industrialized world.
My father was from the old country (here in NL) and we were immigrants to USA. He used to say 'Sports doesn't belong in school, its should be in the town or village''. I wanted to play basketball after school but he said I needed to start working (paper route) and earn my own allowance, I went to a parochial school of which I paid half the tuition. I was a bit pissed off but late in life thanked him.
I think ROSS PEROT crusaded about this, trying to take the public schools in Texas back from the "good old boy" ex-high-school football players and football coaches who became Principals and "Educators" and ended up running so many School Systems in Texas.
I love sports, but sports belong OUTSIDE school. Sports teach teamwork, but sports do NOT teach reading, math, science, or history. That's what schools are for. Schools are too important to have their mission - to teach these things - handed over to sports "heroes" and "sportsmen".
"And where the hell was Biggles, when you needed him last Saturday?
And where are all the sportsmen, who always pull you through?
They're all resting down in Cornwall, writing up their memoirs,
For a paperback edition of the Boy Scout Manual."
(Jethro Tull, Thick As A Brick)
I think Boy Scouts is good, too, but it is outside school. Sports, likewise, need to be outside school.
This article is focused on generation bating. Blame the old folks for the socialist trends of today’s younger generation. Take away their social safety net of older people and give it to a free loader society.
TV ads, today, encourage adults to “Get on the Social Security Disability Train”. If that doesn’t work you need to sue someone to win the lottery. I don’t see ads to get a job and earn your income.
Today’s economy is the direct result of the Federal Reserve policy to create enormous debt from the productive hard work of the middle class. There were no credit cards when I grew up. A mortgage required a 50% down payment and the funds came from actual bank deposits from working adults. If you didn’t qualify for a mortgage, a Land contract was required to purchase property. Today, the Federal Reserve creates debt out of thin air by pushing an electronic button. The debt is immediately “Securitized” or sold by banksters. A TBTF bank “Services” the loan for fees.
My friend’s parents all worked for local businesses or ran local businesses. You could graduate from High School and get a decent job to raise a family with your wife staying home to raise your children.
College was for students who excelled in some High School subject and would benefit society and themselves from their above average skills.
This article is an attempt to move the walnut around the table while you are distracted and lose sight of what is happening around you. Don’t blame the Old Folks!
Except for my parents home mortgage with 30 percent down, they never had credit cards or even invested in stock market. Everything was save and pay cash even cars (second hand). They died debt free with home paid off and lived comfortably.
People dont understand the pitfalls of credit. It is a immediate satisfaction elixir that society has succumbed to. Status and happiness are based on consumption. Until people realize the old way of save and pay, they will be debt serfs.
The South was right!
excellent.
bravo
"You are heirs to claptrap, nonsense, bogus theories, and trillions of dollars in debt. The systems, programs, and institutions your parents set up are mostly worthless scams. Worse, they produce outcomes contrary to their stated goals."
NONSENSE INDEED! The INSTITUTION is the Fed. The Fed was created in 1913. The Fed produced those trillions of dollars of "debt". The handful of men who created the Fed would be about 140 to 150 years old today. They are not "your parents". They are not even your great great grandparents. They were a handful of men, and they snuck the Fed through Congress and on to Woodrow Wilson silently.
So please stop blaming the BABY BOOMERS, Bill Bonner! All that does is "divide", which helps the Fed continue to "conquer".
Very true, I would say more but then I would be labled an ''anti-semite'/.
Better get it off your chest now -pretty soon such "hate" speech will be illegal. They're running out of nazis to to prosecute-your type will be the new nazis - you won't be prosescuted for being associated with the old "holocaust" but to prevent new ones. According to Abe Foxman -anti-semitism is of epidemic proportions - that's why they keep raiding and killing Gazans -and killing Iraquis, Libyans, Srrians -and why we have to destroy Iran -and then Russia - all those countries - are potential holocaust perpetrators. And the best defense is a good offense -after all, Israel has the right to defnd itself.
There's enough blame to go around.
Only a few in each generation saw the mugging taking place in America and warned us about it but it was hidden and subtle.
Now it's so blatant and obvious that they don't even bother to hide their crimes because they're certain of their immunity. Only the willfully blind can miss it.
We have to take a mea culpa because we have done nothing to roll it back and have left our kids a wasteland to raise their kids in.
The muggers have won because we let them. WWII took 6 years to finish. We've had 7 years since 2008.
Way to go.
The Baby Boomers sat on their fat asses and let government run amok. There is no better group to blame.
And fought the Vietnam War. And fought for Civil Rights, and for equal treatment for Women, and to end the Vietnam War, and to protect the Environment. My ass is big but not that fat. And Epictetus says blaming is an unproductive use of energy.
Me thinks your blaming the wrong generation.
Not the parents so much as the grandparent generation.
Those silver hairs want theirs and everyone elses too.
Including the blood of my 28 and 30 yr old off spring.
They grew up post WWII during the 50's and 60's and write most of the laws in Washington.
We need to get them the hell out of the loop.
I totally agree we have to break free from the selfishness of the privous generations, but do we deserve what they gave us? No.
The Baby Boomers are the generation that put us into debt, lived with low taxes and let the government spend the "entitlment funds". All the while they spent more than what they earned rather than saving for their own futures. Now they want us to pay their debt, and fund their retirement and their health care.
They deserve to be the burger flipper burgers until they die at 90.
Correction, the crony bankers and the FED put US ( including the babyboomergeneration ) in debt. I NEVER spent a dime I didn't earn and worked for and I am now faced with an almost inexistent pension - which was promised in writing 35 years ago and for which I contributed through my taxes ( which by the way are >50% of my total income). I ( the babyboomer ) put you in debt? Give me a break .....
I have to hand it to you ZH, you have a way of posting articles that really get people thinking, an on that metric this is one of your best.
The primary target audience of this article is “young people that have been cheated by the system”, that I will label group Ya.
The article claims to have identified the primary perpetrators of this situation as “old people that devised and promoted the system for their benefit”, that I will label group Oa.
The article does a good job of identifying the failures of policy that have caused the problem, and for that it deserves credit, and I will not dwell on them.
Those who rightfully claimed that the article engages in age bating are justified in their criticism for at least the following reasons:
1) The article fails to acknowledge the existence of a number of other groups, besides group Ya and group Oa that I have identified above including:
Group Yb: Young people that either through the connections of their parents, or inherited wealth from their parents, are also unjustly benefitting from the system – through no extraordinary effort on their part.
Group Yc: Young people that have been taught by their “68er” parents, most of whom are part of group Oa, that the system owes them a living, and are now outraged that the gravy train has run out.
Group Ob: Old people that have worked hard all their life, as the article claims young people must now do and that their parents never had to do, who are justifiably outraged by a system that has failed them too – and which they are now being blamed for.
Group Oc: Old people that have, arguably unsuccessfully, fought the very same ideologies and policies all of their lives that you rightly note have culminated in this state of affairs – and which they are now being blamed for.
Those who claim the article is age bating have a point because through generalization, it fails to identify groups Yb and Yc as part of the problem, and unjustly accuses groups Ob and Oc as being part of the problem.
2) In my view, the more important point is that the article does not address the issue of who initially promoted the false and bankrupt ideologies that Yc wishes were true and that Oa taught?
The answer is right in front of us, and can be best determined by observing what group is disproportionately represented in group Oa (the old teachers and beneficiaries, think Frankfurt School and Boasian Anthropology) and what group’s offspring are disproportionately represented in both groups Yb and Yc (the young ingrates, think simultaneously “privileged” and “persecuted” ).
Let’s just say, that “age bating” is brought to you by the same people that brought you “race bating” as a weapon to obscure the truth and accelerate your demise – coming to a theatre near you.
The boomers are dying off at a darn good pace these days and sooner than later, they're all going to be dead.
Can't really blame them after that happens.
Fuck all this blame game bullshit.
Everything you do is work from chewing to drinking to breathing, so you might as well work and be paid.
There is no free ride.
Fuck them, those who have fucked it all up, and fuck money. It's all too late.
"The systems, programs, and institutions your parents set up are mostly worthless scams."
Bullshit.
The systems, programs, and institutions, have worked, and would have continued to work had they not been perverted by by the "best and brightest" scions of the .01%.
It's not the boomers, the milinneals, the gen xers. It's Them, the .01% and their progeny.
The lying, obfuescating, unetnical, fruadulent, greedy, pinko, unpatriotic, unconstitutional, progressive .01% elite and their anointed puppets, in our country; have fucked up our country. The only thing keeping them there is the fact that the USA is a Christian country. Otherwise, the retribution would have already started.
This is a cowardly article.
The author points out (rightly) that there's a huge predicament that is going to hurt the younger genreations, but doesn't offer a solution (or even his assistance) in mitigating it.
Let them eat watermellon.