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Young Americans' Confidence In Economy Surges As Hopes Of "55 And Older" Shatter
Consumer Confidence among Over-55 Americans is at its lowest since September 2014. On the other hand, confidence among the Under-35 generation is its highest in 9 years (as the lowest income earners saw the largest surge in confidence in history - from 44.2. to 73.4). The 'optimism' gap between young and old Americans has never, ever been greater...
Away from the age-related divergence, today's consumer confidence data had lots of of oddness to it...
Consumers’ appraisal of current conditions was mixed in December. Those saying business conditions are “good” increased from 25.0 percent to 27.3 percent. However, those saying business conditions are “bad” also increased from 16.9 percent to 19.8 percent. Consumers, however, were more positive about the labor market. The proportion claiming jobs are “plentiful” increased from 21.0 percent to 24.1 percent, while those claiming jobs are “hard to get” decreased to 24.7 percent from 25.8 percent.
Consumers’ optimism about the short-term outlook was somewhat mixed in December. Those expecting business conditions to improve over the next six months decreased slightly to 15.2 percent from 15.7 percent. However, those expecting business conditions to worsen increased slightly to 11.0 percent from 10.6 percent.
Not exactly "optimistic" eh?
Charts: Bloomberg
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Financial news is the most upbeat near market tops. Headlines are gloomy around market bottoms. Most investors miss important trend reversals.
This is only because millenials are economically illiterate.
Young people have everything to gain.
Old people have everything to lose.
If you have a degree in beer pong from college and thus, are $200k in debt, you're GOLDEN! Uncle Sam wants to put you on the pay[per] roll...
We've had a few of these SS's (special snowflakes) hired here the last year or two. Did not work out well.
One intern was upset because he was not given enough high level stuff to do. First one ever fired. Well except for the one who went on holiday but never returned.
I think back to how naive I was and grimace. But I at least knew the pecking order of the world.
pods
In 2008, the US Census Bureau projected strong population gains through 2050 helping to drive growing consumption and US economic growth. But in 2012, in a story here the Census acknowledged that these were bad assumptions as these trends were not continuing, as they had expected. The Census now anticipates a 32% reduction from it's previous 2008 projections for US population growth from 2015 to 2050 (or about 36 million fewer Americans). 95% of the population cuts were to the under 45yr old population. The growth of the 0-24yr old US population was cut by 76%...
This probably matters.
http://econimica.blogspot.com/2015/12/the-greater-depression-will-be.html
i was a young dumb phuck when this song came out https://www.youtube.com/watch?v=YY4CleH2x8Y ; now i am an old dumb phuck
gay much?
not that that matters though. :)
Im betting you are under 40. Back in the 60's you could listen to The Association and be considered thoughtful. They also were one of the best at harmonizing and Im betting if you played "Cherish" for a chick, more time than not you got laid. It was a sign of the times with many of the young (falsely) believing they could change the world with new age and eastern mysticism. THis song came out when I was 7 years old and I had the Album.
Of course given the world today this album would unequivocally be seen as "Gay" if released now
hey ali ali grow up boy. i listened to george carlin when he did his routine about what is a faggot. he said when i was a boy a faggot was what we called the ones who didn't go downtown on friday with us to beat up queers.
Hoss, people who use the word Gay are queer to me. you maleable toad; you accept their lingo. who the fug calls em gay? what is Gay about a man sticking his dick up another man's ass. it is Queer
Thank gawd for the Rolling Stones.
But wait! What about all those "birth/death model" jobs the bls has added since 2008? You are telling me that all those hundreds of thousands of jobs were just imaginary???
I am shocked! SHOCKED I say!!!
Wait until you hire Muslim Snowflakes...don't eat yellow snow and don't eat, or hire, brown snow.
Family members work...Muslims are PUSHING for a special prayer room that can be used whenever they please with pay...family member can't wait for the company to cave...he's going to demand the same thing for his religion...company, so far, isn't willing to step into that shit pile...if you want to pray, leave the building..go join the smokers.
Yeah prayer rooms are a joke.. give them one, but then tell them that every employee has the right to take breaks there at the same time, same place, equality sucks when you want to be special privileged. just like giving smokers more breaks than non smokers i knew a place were people used to go out and put a unlit cig in their mouth just so they could get the same number of breaks, so yeah let me go in while they are praying and i will meditate. hope my snoring doesn't bother them
I would go in there just to drop ass. It might improve the smell of the room though.
At the gym recently I was the first one to arrive for spinning class. The room was somewhat dark, I pulled a bike out of the corner and started moving it into place then noticed there were a couple muslim guys in back doing their prayer thing. One of them came over to me and started asking what I was doing, was there a class? Just then the door opened and a lot of people started flowing in. The guy walked away but I wondered if he was trying to intimidate me.
The number of muslims at my pricey gym is constantly increasing. (Did you know women can buy workout burkas?) I don't even know where they get the money to join and I wouldn't be surprised if they asked for a special prayer room.
Mark my words: there will be no assimilation. That is what the various gubmints do not seem able to comprehend.
Beer pong is at least useful for networking.
Try Grievance Studies.
Hitler youth... At least now u kno how it happened
as you age, there is an increased risk of dying from old age.
Which in turn dramatically reduces the effectiveness of the death penalty as a deterrent.
the best deterrent to "that which we forbid and will punish you harshly for" is an early investment in human resources.
Wisdom gained thru the years vs delusional youthful enthusiasm. I wonder who will prevail in that argument.
As I have said, many of the 55 and over who are fortunate enough to have a pension and/or inheritance are cashing in their chips right now. Even if it means downsizing. ...Pension funds are vastly underfunded and they aren't going to wait until they're 70 to start collecting checks...Not to mention the US government wants their hands on a piece of the 55 and over nest eggs so bad they can taste it....Side note: my mother went to make a withdrawal on one of her banking accounts last week. The bank told her since she hadn't made a withdrawl in over a year it was coded as Inactive/Dormant...She had just made a deposit a month ago, but they said it has to be a withdrawal.
"Withdrawal?"
I'm surprised they didn't drag her in th eback an dinterrogate her as a tearrist....
Withdrawals Strictly Vorbotten.
Yeah, the SOB's got me with that one last year..."inactive" if no activity within 6 months...they are FAST to mark you inactive...$5 fee, but they refunded it.
Depending on the state, if an account is dormant for a year, that gives the state the ability to confiscate the assets of it.
http://articles.latimes.com/2008/aug/24/business/fi-perfin24
http://www.shtfplan.com/headline-news/georgia-to-seize-dormant-bank-acco...
http://www.bankrate.com/finance/investing/states-grab-unclaimed-property...
I was just gonna say that they're idiots..but your way is much more pc.
'Go Hillary 2016'
:/
'Go Hillary 2016'
I agree!!!!!!!!!!! Straight to the Big House.
That would be the one with little itty bitty rooms and lots or guards. Not the Degraded one located at 1600 Pennsylvania.
Hillery/DeeBlazio, 2016
Looks like a sure winner when you see the results of the latest Gallup Poll who is the "Most Admired American." It's all "Shcok & Awe."
Gallup: Hillary Clinton ranked most-admired woman in U.S. for record 20th year
Obama most admired manhttp://www.usatoday.com/story/news/politics/onpolitics/2015/12/28/obama-...
https://www.yahoo.com/politics/gallup-hillary-clinton-ranked-most-admire...
ZH'ers better batten down the hatches, at least the ones in the private sector 'cause you're going to get punked hard for the foreseeable future.
they polled a large number of bankers and executives on Wall Street in New York ... voila' awesome poll numbers
Quite. I got into a nice "discussion" with a few of these poor bastards yesterday. They honestly believe in that "living wage" bullshit and quiver in their boots that if Unions departed tomorrow we would revert back to the dawn of the Industrial Age. Then they bitch and moan about "workers rights" in employment, demanding more and more "say" in the affairs of the company while disparaging the owners and shareholders. It ended with a few of them telling me to kill myself and "people like me" are what is destroying society.
Poor dolts can't even see their own hypocrisy, as every aspect of their lives is touched by "people like me."
We are truly fucked when these snowflakes start running the show.
"This is only because millenials are economically illiterate."
Had a discussion with one about the $500 price of Chipotle...still a "BUY!" in his mind.
If you've never experienced a $500 stock one day, valued at $0 the next, it's hard to imagine.
I remember back in the .com bust...employees of a company were all "millionaires" due to stock in the company...they come to work and the doors are locked...they check the stock price and it's delisted...OUCH!
And it's gone...
~"This is only because millenials are economically illiterate."~
And politically as well. But then, what fif you expect when you turn over the education of your children to Godless unionized socialist government employees? If you send your kid to sheeple school, why do you expect to get a fearless liberty warrior in return?
OR the pollsters are lying. Not sure which under 35 year olds they are asking , but they sure as hell didn't ask me or anyone I know.
This is only because millenials are illiterate.
I mean....why shouldn't hope rise for the Millenials. I mean.....armed with their iPhone and the power of Google they're going to conquer death.
http://www.cnn.com/2013/10/03/tech/innovation/google-calico-aging-death/...
That is until they walk off a cliff
http://www.usatoday.com/story/news/nation/2015/12/27/distracted-walking-...
Don't forget about their numerous employee of the day awards and mental health days and god knows what else makes these fucktards tick.
Don't worry. They will both be at the bottom soon.
That is because they are living at home with the 55+ who have jobs...Wait until Mom & Dad can no longer keep them.
Thats why lamb tastes better than mutton.
Ummmmmm.........lammmmmb <smack>
I'm a "young american" and I know things are fucked.
I bet the young americans who think shit is going swell are white, work in tech/medical, and are "college educated".
The ones with consumer confidence are the ones with parents that will die soon and leave them money. They come in all colors.
You mean the parents will leave them with debt!
some might but not likely. My bro-in-law and his wife are posturing for the $1.7 million her parents got from the state purchase of their land purchased 30 years ago for a couple hundred dollars per acre to make into a bird sanctuary so they are very optimistic. The land is generally useless except for horseback riding and quad running
'White', eh...?
Yes, you most definitely ARE, a 'young American'...
It's a result of nursery fluoride, tons of vaccines, extra flouride in the drinking water, GMO foods, litany of tribe music and screen trances, kommon kore edumacation, and on and on.
Those toxins may be a factor however we are all exposed to it as well.
The people have chosen security at the loss of freedumbs over chaos like the countries we're bombing just to cotinue the current "life style".
They will march willingly to the master's orders until things visibly changes and by that time they're going to have a rude awakening.
Always a race baiter in the mix. For sure this is a 21st century Merikan,,, most likely a professional "student" living high on OPM from "student" loans he'll never repay.
Medical is not a good field to work in, especially as a white male. It is completely feminized. Take it from me, I'm 35 and have been doing it for 15 years.
you are probably more correct than some here might want to believe. I have seen the same for many years and see it today with quite a few 25 to 32 year olds with 4 year degrees who think that, despite the organization opening and expanding operations in Poland and Mexico, they are doing great and everything is swell. I've seen the same reality movie 3 times now ... I have seen the ending of the movie 3 times as well and have been preparing for the 4 th re-run finish for twelve years having missed the red dot in 2008 only by luck and moving around ... running in a zig-zag pattern in job tasks and in different states helps dodge the corporate bullets given to them by politicians... so far
Good to know. Now spread this around with your friends maybe you will have some converts. Good history lesson if nothing else:
https://www.youtube.com/watch?v=ySnk-f2ThpE
What kind of retardation is this? Soros, you behind this? Unless these fools think they are getting an inheritance or a house... which will not happen.
1. The young are still too naive to lack confidence
2. The young have been coddled by their parents on CREDIT, even as their parents have been outsourced and downsized.
3. The young have never faced an economic tsunami head on and first hand.
Those days are numbered.
It the same with those who are in a big hurry to have their own kids. They "know" they will be better parents and their children will be perfect and NO trouble at all. LMAO
They really don't understand the building tyranny we are facing and the damage it has and will do to our economy and freedom.
Yep.. I know one person exactly like that with his family and they believe the future is bright as a laser in the eyes for their kids... and they are NOT wealthy... only they are fools and they are fooling only themselves
Beware ye young folk. Thou shalt soon be downsized as well.
If you have a good job then stop pissing your money away partying and thinking that it wont end soon. Because it will. Stay out of debt and expect the draft.
Indeed.
"Rejoice, O young man, in your youth; and let your heart cheer you in the days of your youth, and walk in the ways of your heart, and in the sight of your eyes: but know you, that for all these things God will bring you into judgment."
Ecclessiastes 11:9
just do what i did - reserve yourself that you are working until your dead & problem solved. with rates @ or near 0 + the prospect of going negative at some point in the futures makes me in NO WAY confident ill EVER be able to retire comfortably cuz once im out of the workforce, im out & most likely by that point, it won't be voluntarily - its really hard to say retire for 10-15-20 years and then realize SHIT i have to GO BACK to work. by then, your skills are diminished & most likely nobody gonna want you. if you work straight-thru, you may put more of a toll on your body/mind but at least you'll never have to worry about an income stream that could have a market-induced shock to it that could revoke it. give me 4-6% interest rates & its a different story; then ill retire but outside that, im not even considering it.
Buy a few small mixed-use buildings.
If inflation is low, rents stay the same.
If inflation is high, rents go higher.
...but taxes are unlimited.
At 55 the person has had 35 years to pay-off a 30-year mortgage. Once the mortgage is paid, living expenses go down dramatically.
The 55 and over crowd are figuring out they are the proverbial grasshoppers.
The 35 and under crowd are in grasshopper ‘Nymph’ stages not realizing their future, yet. 20 short years and they’ll be there.
Who bought a house at 20 and never upgraded or sucked out equity?
https://www.youtube.com/watch?v=nyglT-rWE5c
Or got divorced. At least once.
or got outsourced and had to move somewhere else often multiple times.
Me.
But what about the second and third mortgages dad and mom had to take out for college education? and that car they needed and help with getting that first home?
In most places, by the time the mortgage is paid off, the annual property tax payment is near to what their mortgage payments were. And the scam cycle continues.
This is true no matter what part of the country you live in.
Bring back the chinese revolution - red army
Life's pretty good looking out the one window in your mother's basement.
So the larger population group has a lower impact on the survey? That is completely bogus....
Good for the younger generation - I'm actually glad they're optimistic. The future is all yours - good luck - lets see what you do with it!
For everything else, there's Alpo.
When you have been knocked to the floor, everything looks up.
...and then you see a photograph of the Koch brothers on a wall.
HEY you freakin red/blue team bozo. The millennial twerp will be in his single mom's basement. So i'm sure the male hatin' beotch will have black boy and Soro's pics all over the place. You f'in douche.
"Been down so long, it looks like up to me"
Progressive propaganda is very well done. A slick production. The young are bombarded with it.
But as we know, the progressive stupid, it burns.
Grimaldus
The lowest earners working in dead end jobs are optimistic? Well I guess it possible because when your at the bottom of the food chain there is no place but up?
text away and prosper
They have Bernie and Hillary saying how they are going to get all this free stuff and be taken care of for the rest of their lives....sounds good to them...free stuff for me...how can that be bad..
bernie yes, hitlery no but she is globalist to the bone
Just finished watching 'The Men who built America' on the History Channel last night. Aside from even 'history' (via the History Channel) being Politically-Corrected to the point of nausea (during the Henry Ford segment, the narrator mentioned 'living wage' no less than 3 times), it was nonetheless an eye opener to see how 'ordinary' people were treated back then... Even I know this from the way my old man treated me whilst growing up - and his was a watered-down version of his own upbringing... Of course, one can not help but juxtapose the era of the Industrial Revolution with today's societal norms. Many aspects of today obviously ~much~ better and more 'civilized' than that era, but all the same, other aspects - say like a highly unrealistic sense of self-importance, ~much~ worse.
The young always fails to undertand taxes and inflation...
As always, many are strikingly naive; but there is a core group whose parents were not fools and who have not emerged fools. They know what's going down and have no faith and no illusions.
A lot of 20-30 y/o at my local gun range.
Young, Dumb And Full Of Cum?
The smart ones gave up looking for part-time minimum wage work a long time ago, and became part of the Free Shit Army.
If they really get out there to work, they find the following - sign waving, stocking shelves, removing staples from documents, call center work, cashier, bartender/waiter, etc...
After a few years of that, and STILL being treated as if you're a lazy piece of shit, you're entitled, you majored in the wrong thing, you must have weak social skills, you must not want to conform, you need to look harder, you need to move to a new place, you can't afford rent because you're spoiled, it's your fault there are no quality jobs anymore...
Doesn't take much of that to make the FSA look much more appealing.
You've nailed what many (especially in the zerohedge world) simply don't get - many young people are "giving up" for RATIONAL FUCKING REASONS!
(so please - judge the young as harshly as you like, especially while you're using that credit card)
(and voting to increase taxes on the young - Obamacare)
(please - keep judging)
sorry,,, it's a well known fact that it was the millennials that got Obama elected twice hoping for free stuff. No,,, Obamacare belongs solely to the young "voters".
Sure couldn't have been the boomers everyone like to blame for just about anything,,, they're getting their Medicare, or what's left of it after O-Care took a chunk.
Happy Trails...
the young have been bludgeoned silly by the globalists just like the rest of the country that needs to and wants to work for a living and have a life as well
Just as the "I'm not moving" mania peaked a few days before Mt. St. Helens exploded, I see this "optimism" as being the same kind of normalcy bias writ large - usually seen right before a paradigm collapses. I expect Obama, and his replacement, to be telling us how great the economy is ... as food pantries/co-ops have longer lines, and less food.
I'm happy for them. Maybe this $18+T debt and massive unfunderd liabilities are a hoax, rev and earnings are improving, oil is at fair value, fiat money is not real (...wait), war in the ME is just a movie, Obama and Hillary are cartoon characters, glaciers are suppose to melt without refridgeration, food appears magically in the fridge......
Young people are conned into believeing government money is 'free' money
So does the 55+ crowd. Start asking them who pays for their new hips, knees and heart valves.
and wall street and politicians laugh their asses off at the $10 trillion handed out to themselves in 8 years
Ahh yes the free shit generation, as long as the internet and iPhone works all is swell, Government 1, young adults with brains 0.
All the 'young ones' can sit it their -tiny houses- and be professional bloggers....saving the world and dreaming of the day that Google makes them an offer. Yes, in that world, the future really does look bright.
They are pretty smart they live around it as best they can and don't stress about many possessions that's not stupid that's pretty smart.
They are unfortunately foundering in a number of false beliefs. Engage an under-35 person in conversation to elicit what their fundamental views are, and you are sure to reveal FACTUAL misconceptions. It's as if the younger half of the population thinks the nature of things is entirely subjective. This has happened before. It has never ended well.
The brainwashing of the Millennials has been nothing short of Masterful.
Years of living vicariously.
Or did you really mean.......vociferously
Well, not only...
Young American's inherited a fucking mess we should be ashamed to give them.
Young people don't raise themselves you know. I think that generation has a lot of promise it's only about 10/% or more of a generation that actually makes the changes I think people sell them short.
...and some of us saw this coming 25 years ago and did the responsible thing by NOT HAVING KIDS! No one told any of you to squirt your wads about so don't blame your kids' future mess on we who not only didn't make the mess but were responsible enough not to bring another sentient being (or 10) into this FUCKED UP reality!
Instead of giving up like you, my parents chose to have children and raise them right so that the future might have a chance of being ok. If more people had done that, it might have balanced out all the deadbeats who raised their kids wrong.
98% of them are intellectually crippled. Not entirely their fault,perhaps,but still,there it is. A lost generation, or two.
No, forget all the physco-babble.....this survey was done right before Christmas.....when they all got checks and cash and debit cards as gifts from grandma and grandpa. With all that free bounty just ahead, who wouldn't be 'upbeat' about the future?
Let the generational wars begin...
The under 35 crowd is becoming more confident the over 55 crowd will be pushed out of work within a year or two in the "app society"
The youngsters jobs will be replaced with robots and hundreds of thousands of "refugees".
Son/Daughter.. all this belongs to the nursing home that is going to take care of me when i get older, now run along and get a Job... /s ( maybe )
MOAR BS on the sub 35 crowd although many are so pessimistic now maybe you would think they HOPE it will be better in 10 . We had pretty much this same question at the after dinner debates on Christmas Day. 5 under 35 Working College grads one of whom is part time. All 5 voted thumbs down to the question will things be better or worse in 10 years. Our son who is in his second year of Residency thinks medical knowledge base will be better but eCONomy worse. Among the parents only 1 who works for a Bank and is in the 1% said MUCH BETTER (lol). All of us old farts are +50 and one is unemployed. Surveywas a group of 13. So one for 13 better. 8 near or over 55
Stupid is as Stupid does. BUT to be fair, a small percentage Knows Full Well just how screwed they are AND do not blame the elders, um, because, well..... they were taught well and held truths to be self evident. Kudos to all of those young and old...... Shame on the rest. FUCK THE DEEP STATE.
Everybody's got to stand in line / When it comes to the judgement time / Pick the side of the fence you're on / When he comes to carry you home. (Cross Canadian Ragweed)
Holy fuck... they slotted me in with the kids. I'm feeling invigorated. Do more of these "55 and Over" things. Love this shit.
I might just go shack up with the parents to make it stick.
THANK YOU ZH!
LMAO
Maybe optimism explains it, or perhaps selective reading of headlines and specific metrics, but I just don't understand why anyone (except for the 1%, who are doing quite well) would have any real, fact-based or data-based confidence in this recovery/economy.
Perfect example of a prediction that the dems will win the next election.
Young vote Dem. and hope high tech and Elon M will take them out of the FED trough.
Too bad Donald.
just too bad that hillary will get the nod...
It's surging because the young are naive, dumb and stupid.... The majority are suckers. It is the ONLY explanation.