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8 Ways That Young People Are Getting The Shaft... And What To Do About It

Tyler Durden's picture




 

Submitted by Simon Black via Sovereign Man blog,

One of my favorite things I do each year is our annual Liberty and Entrepreneurship camp, which we hold each summer in Europe.

It’s predominantly for younger people in their early to mid 20s, and one of the things that we drive home each and every year is that they get royally screwed. Consider:

1) Whenever governments gone wild engage in military folly on the other side of the globe, it’s the younger generation that’s expected to go fight and die in foreign lands.

 

2) They’ll pay rising taxes for their entire working lives in order to service the debts of previous generations.

 

3) They’ll have to support a ballooning number of retirees more than any other generation in modern history. Census data show that the number of workers per retiree is now at the lowest on record in the US, France, Germany, UK, Italy, Japan, etc.

 

4) Yet given the precarious balance sheets of most Western pension and Social Security Trust Funds, when it comes time for today’s younger generation to start collecting retirement benefits, those funds will have run completely dry.

 

In other words, they’ll pay for decades into a system that won’t be there for them when it comes time to collect.

 

5) And with youth unemployment rates over 50% in some places in the world, it’s the younger generation that often feels the brunt of economic difficulty more than anyone else.

 

Young people are the last to be hired, the first to be fired. They’re told that in order to be employable they have to get a university education, and enslave themselves with tens of thousands of dollars in debt (which, by law in the Land of the Free, can never be discharged in many cases).

 

6) Factoring in ‘underemployment’, the rate is even higher. In the United States, the Bureau of Labor Statistics tells us that there are over half a million janitors, bartenders, and waiters who have university degrees.

 

7) If they do find more meaningful work, they’ll spend an entire career roaming from job to job facing enormous competition from an increasingly globalized world, in a way that previous generations never had to contend with.

 

8) This will put a lot of pressure on earning potential. And with cost of living being so high, many folks simply won’t be able to make it.

It’s no wonder they call them the “Boomerang Generation”, and that 45% of college grads aged 18-24 in the United States were still living with Mom and Dad (source: Pew Research Center, 2011).

It should be obvious by now that the old adage– study hard, get good grades, go to a good school, get a great job, and work your way up the ladder– really doesn’t apply anymore. And it’s time to re-invent the model.

I always tell our students that apprenticeship is a great place to start.

Think about how you want to be spending your time (note: this is different question than ‘what do you want to do…?’) Then find a successful person who does just that. And make yourself indispensable to that person in order to learn as much as you possibly can.

Travel is also an excellent teacher. The price tag for a a 1-year round-the-world trip is a tiny fraction of university tuition. Yet putting boots on the ground in thriving countries provides exposure to opportunities, knowledge, and language development that you could never learn in a classroom.

Besides, in many developing nations, while there is an abundance of opportunity, there is often a distinct lack of executional know-how and “can do” attitude. And this candidly gives you a built-in competitive edge.

I also think that young people in search of a job should look overseas; your skills and background will be more highly valued overseas precisely because you’re unique.

Not to mention, your salary will go a lot further overseas. You can earn a lower salary and live a much fuller life in places like the Philippines, Thailand, or India than you could in the West.

Last, for those who really feel the need to check the box on a university education, consider looking abroad as well. Why pay tens of thousands of year back home when you could attend the same university in Switzerland where Einstein went for right around $600 per semester?

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Wed, 06/26/2013 - 16:50 | 3696719 12ToothAssassin
12ToothAssassin's picture

I hear the Andes are nice

Wed, 06/26/2013 - 16:53 | 3696732 Banksters
Banksters's picture

REVOLT, YOUNG BITCHEZZZ!

Wed, 06/26/2013 - 17:13 | 3696821 jbvtme
jbvtme's picture

fatten up those entitled chumps.  the mother ship is going to need some protein.

Wed, 06/26/2013 - 17:25 | 3696866 SheepleLOVEched...
SheepleLOVEcheddarbaybiscuits's picture

I just got laid off today. No joke. I want to get a job overseas. Any ideas where to start? Thanks

Wed, 06/26/2013 - 17:30 | 3696886 resurger
resurger's picture

Australia is good, they need lots of people.

Wed, 06/26/2013 - 17:32 | 3696894 SheepleLOVEched...
SheepleLOVEcheddarbaybiscuits's picture

Would it be hard trying to find someone to hire you considering you would need a work visa?

Wed, 06/26/2013 - 17:41 | 3696930 krispkritter
Wed, 06/26/2013 - 18:44 | 3697113 economics9698
economics9698's picture

“Most are never going to get a ride on the 'boat',or was it a luxury yacht, that the prior generation sailed on...

 

Because for 42 years the rest of the world thought out paper was valuable.  That will change soon.  When the Chinaman realizes he would be better off consuming what he produces the end of the free ride will be over.

Wed, 06/26/2013 - 19:15 | 3697196 grid-b-gone
grid-b-gone's picture

 "the rest of the world thought our paper was valuable"

Remember when Geithner flew around the world when austerity was all the rage to reverse the policy? The U.S. needs all big players to over-print at a similar rate so the dollar remains the reserve currency. This allows for continued U.S. printing. 

Taper talk is just talk, though rising rates are a real consequence of easy money and the risk it represents. It's hard to believe, but it appears we will print until the currency is rejected, just like most every failed currency in history. 

Despite all the PhD economists, modern mathematical formulas, and computer resources, human nature remains a constant.

Wed, 06/26/2013 - 20:05 | 3697316 espirit
espirit's picture

...or join the Peace Corps.

Oh wait, you'll never get a .gov job if you do that. 

Wed, 06/26/2013 - 17:47 | 3696949 Argent
Argent's picture

yes

Wed, 06/26/2013 - 22:54 | 3697829 thestarl
thestarl's picture

Sorry guys the parties over down here unless you believe China has another trillion dollar stimulus package to unfold.In case you have'nt been keeping up with current events the best we can hope for is they pull off a soft landing and we avoid a recession.

Thu, 06/27/2013 - 00:30 | 3698075 Parrotile
Parrotile's picture

That would be "The Recession we Had to Have" wouldn't it?

Memories of the Howard Government methinks . . . .

 

Wed, 06/26/2013 - 17:33 | 3696900 Sudden Debt
Sudden Debt's picture

what kind of job do you do?

Wed, 06/26/2013 - 17:37 | 3696919 SheepleLOVEched...
SheepleLOVEcheddarbaybiscuits's picture

Finance, but I'm very open to other areas.

Wed, 06/26/2013 - 17:49 | 3696955 francis_sawyer
francis_sawyer's picture

Tell your parents to buy a house in Gstaad... Then go live in their basement...

Wed, 06/26/2013 - 18:48 | 3697125 Umh
Umh's picture

There are really three kinds of jobs; the ones where you think all the time, the ones where you never need to think and those where you need to think occasionally. Avoid the last type. Jobs where you think all the time will frustrate you. Jobs where you never think usually don't pay well, but you can bitch about the higher ups and jobs where you think on occasion will rarely be well compensated and have the potential to get you really screwed.

Wed, 06/26/2013 - 19:51 | 3697270 Boozer
Boozer's picture

@Sheeple - Try getting a job on a cruise ship (not married I presume/hope) It's interesting

and opens up other avenues.  It's been a long time for me, however some of my pals still

at it 25 yeas later.  Plenty of ships and cruise lines out there.  Purser is what would apply for

your education.  Speaking another language or three would help as well.  Good luck.

Wed, 06/26/2013 - 20:46 | 3697441 ncdirtdigger
ncdirtdigger's picture

Buy a lawn mower, learn Spanish, and cut grass.

Wed, 06/26/2013 - 22:38 | 3697775 dark pools of soros
dark pools of soros's picture

take any job and promptly outsource it to india and pocket the vig

Wed, 06/26/2013 - 23:00 | 3697858 thestarl
thestarl's picture

Retrain yourself in industrial automation and i promise you will never be without a job.Hey mate i speak from experience.

Wed, 06/26/2013 - 17:39 | 3696925 kaiserhoff
kaiserhoff's picture

If you don't mind rustic living, try Eastern Europe.

An American perspective is valuable there.

Wed, 06/26/2013 - 19:17 | 3697203 CH1
CH1's picture

Screw "jobs." Make a business. Go Agorist.

Eastern Europe is a good place now.

Wed, 06/26/2013 - 19:27 | 3697223 Totentänzerlied
Totentänzerlied's picture

Eastern Europe will be part of Greater Russia (with the exceptions of Poland, Ukraine, and Hungary, in my opinion, which would would rather cease to exist altogether) in the near future. Spheres of influence and all that mercantilist colonial good stuff from yesteryear.

Wed, 06/26/2013 - 17:48 | 3696953 groundedkiwi
groundedkiwi's picture

http://www.seek.co.nz/

http://www.trademe.co.nz/jobs

Mind you, you may be unemployable if you do not know how to self start the search.

Wed, 06/26/2013 - 21:01 | 3697470 SheepleLOVEched...
SheepleLOVEcheddarbaybiscuits's picture

Thank you for the information. I have been looking for the past month, but I have had little success in the search, as most employers I have found require legal right to work in the country with little or no assistance.

Wed, 06/26/2013 - 22:28 | 3697743 Tom Servo
Tom Servo's picture

Thanks for that link.... looks like they['re looking for some "BRAIN GAIN"....

 

422   Information & Communication Technology jobs containing .net in Auckland


Wed, 06/26/2013 - 17:58 | 3696987 Umh
Umh's picture

I can't begin to give answer without some idea of your skill set.

Wed, 06/26/2013 - 20:58 | 3697466 SheepleLOVEched...
SheepleLOVEcheddarbaybiscuits's picture

Skills set, think analyst

Wed, 06/26/2013 - 18:55 | 3697146 Wild tree
Wild tree's picture

Sheeple

Philippinesis somewhere you need to consider. Get a passport first, then consider marrying a nice girl there. Some are looking for a ticket here, others are the best you will find. Right now, the Philippines are growing fast, but you will need someone to guide you. I am still in the states, but married a good girl 22 years ago, and it was the best thing I have ever done.

Go east young man, go east.

Wed, 06/26/2013 - 21:01 | 3697469 americanspirit
americanspirit's picture

Especially if you have a degree, teaching English overseas is a wide-open area of opportunity. Plus you can take a teaching job, live for a year or more in the country of your choice, buold a netwpork, and move into the profession you were trained for. Check out   http://www.eslcafe.com/joblist/

 

Wed, 06/26/2013 - 21:16 | 3697508 Mariposa de Oro
Mariposa de Oro's picture

I am here....six years now and lovin' it.

http://krscareers.catsone.com/careers/

Wed, 06/26/2013 - 17:28 | 3696877 draug
draug's picture

The old adage of "study hard, get a good job" etc has NEVER been good advice. It's just fear-based crap advice that the middle and lower classes spread among themselves. There are tons of books that give better advice, it's just that nobody bothers to read them.

Wed, 06/26/2013 - 17:36 | 3696915 kaiserhoff
kaiserhoff's picture

For once, I agree with Simon, especially about travel.

My favorite line from Kipling - "Who knows ought of England, who only England's seen?"

Wed, 06/26/2013 - 19:53 | 3697281 jbvtme
jbvtme's picture

kipling at the hedge...love this place

Wed, 06/26/2013 - 23:31 | 3697949 PD Quig
PD Quig's picture

Go to school, study hard, and vote for dumb-fuck one term Illinois state senators who have never achieved a single fucking thing in their life save get themselves elected to the public tit. Just keep voting Dem, you dumbassed young pukes, and you will live your entire, miserable lives in your parent's basement. It's a good thing you like Obama, youngsters--I've read where ex-cons say that getting sodomized doesn't hurt as badly if you relax and loosen your sphincter. Open wide, you high self-esteem / low brainpower Obama-voting twits.

 

Thu, 06/27/2013 - 03:06 | 3698292 Henry Hub
Henry Hub's picture

If we had only elected Romney the United States would be such a better place I'm sure. I remember reading that he would have created millions of good paying jobs by lowering the taxes on the multi-billionaire oligarchs (you know the job creators). What a brilliant idea, I'm sure it would have worked.

Wed, 06/26/2013 - 16:50 | 3696721 Freddie
Freddie's picture

Hope & Change.  McCain is Obama's best buddy. Scum.

Wed, 06/26/2013 - 16:56 | 3696749 Dingleberry
Dingleberry's picture

There is nothing they (or you or I) can do to help them. They are collectively retarded. They signed their own death warrant not just by electing Obammy (twice), but actually believe the gov can tak the place of their parents by promising them eternal hope n' change n' shit. They do not understand that when Uncle Sam gives you a buck, he takes 10 to do it.

I know many youngsters. They are too far gone. Seriously, they are beyond help.  Which explains the rampant psych meds they all use.

The boomers, NEA and teachers unions should be proud of what they have spawned.

Wed, 06/26/2013 - 17:02 | 3696766 NotApplicable
NotApplicable's picture

Don't forget their sponsors, Ford, Morgan, Rockefeller...

Wed, 06/26/2013 - 17:03 | 3696774 seek
seek's picture

Actually I've found the exact opposite. They have a vague sense they're getting fucked but don't know exactly how or why. If you stop and take 5-10 minutes to explain just one or two tangible ways they're getting screwed to an 18yo in terms they understand, you'll find they're surprisingly receptive.

They already know that debt is bad, but don't have any clue why student loan debt is worse than others. The lights go on fast once you point out it's non-dischargable (ie they're slaves.)

Wed, 06/26/2013 - 17:13 | 3696824 Dingleberry
Dingleberry's picture

I took a post grad class in lets say a very liberal artsy type major.  The 20-sometihngs were ALL Obamanites, rabidly so. They are nearly all in massive debt, and even if they get a normal job in their chosen profession, there is no way the numbers crunch. But they do it anyway. It's like tomorrow doesn't exist.

I guess compound interest doesn't either.

Nope. They place their faith in the slickest talker and who is the coolest to vote for. 

They are doomed.

Wed, 06/26/2013 - 17:33 | 3696899 seek
seek's picture

They certainly are -- too far into it to get out. Maybe that's the difference between new high school grads and post grads.

As I said, every 18yo I've discussed things with gets it very quickly (and haven't voted for anyone yet.) Maybe a 23yo post grads can't grasp being wrong.

Wed, 06/26/2013 - 17:40 | 3696927 Dingleberry
Dingleberry's picture

Hope you are correct. For everyone's sake.

I just remember being more ignorant at 18 than I was at 25. 

Maybe they are different.

Wed, 06/26/2013 - 18:14 | 3697032 MachoMan
MachoMan's picture

It's simply a function of how fast you're forced to mature... 

Wed, 06/26/2013 - 19:30 | 3697234 Totentänzerlied
Totentänzerlied's picture

Pretty sure LBJ declared maturity to be a civil rights violation and forbade it.

Wed, 06/26/2013 - 19:47 | 3697264 Bollixed
Bollixed's picture

It's also a function of how many years you've spent failing to look up from your texting and/or gaming device to see there is a world out there that can be accessed other than by using your thumbs.

Eons ago having thumbs differentiated humans and allowed them to climb the food chain and go where no other creatures had gone before. Now it seems thumbs may contribute to holding young people back from advancing farther as a species.

Wed, 06/26/2013 - 19:59 | 3697300 jbvtme
jbvtme's picture

this facebook twitter texting thing thrives because folks have such a lousy image of themselves.  that comes from rarely meeting true creative challenges.

Wed, 06/26/2013 - 20:20 | 3697367 Nick Jihad
Nick Jihad's picture

They've spent 12 years being indoctrinated by NEA members, and it's hard not to be influenced by that.

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