Announcement

CameronPoe
Member
+2,925|5935

ATG wrote:

What does that mean Cam. The whole system will collapse?

What then, do we eat our children?
It means there will be something akin to the depression of 1929. People didn't need to eat their children then. They got by through massive amounts of government intervention in the economy and in their lives. The unfettered capitalism monster has gorged itself and it now needs to be slain and replaced with responsible capitalism. Earning your rewards needs to replace economic growth that only exists on paper. Moral and ethical responsibility and prudence is key to the future. It's amazing that after 1929 it was allowed to happen again.

I've just been to Sarajevo. 12 years ago they had a 4 year siege on their city lifted - a city that had but one paltry tunnel linking it to the outside world for the entire length of the siege. 80,000 people died and hunger, thirst and absence of any form of comfort plagued the citizens of the city. If they can come through that and rebuild what is now a vibrant city then we can all stop crying and ringing the domesday bell.

Last edited by CameronPoe (2008-10-15 09:48:33)

chittydog
less busy
+586|6215|Kubra, Damn it!

Instead of worrying about all the retirement funds the baby boomers will be using (social security isn't enough to live on anyway), think of all the JOBS they'll be leaving behind. That's a lot of opportunity for my generation, which will leave lot's of open positions for your generation.


@Donkey. Generations are more than two years long. If he just graduated and you're typing on this forum, you're the same generation.
Sydney
2λчиэλ
+783|6223|Reykjavík, Iceland.

chittydog wrote:

Instead of worrying about all the retirement funds the baby boomers will be using (social security isn't enough to live on anyway), think of all the JOBS they'll be leaving behind. That's a lot of opportunity for my generation, which will leave lot's of open positions for your generation.


@Donkey. Generations are more than two years long. If he just graduated and you're typing on this forum, you're the same generation.
Doesn't have to be, my cousin is one year younger than me but one generation above me. His father is my grandmother's brother.
topal63
. . .
+533|6098

chittydog wrote:

Instead of worrying about all the retirement funds the baby boomers will be using (social security isn't enough to live on anyway), think of all the JOBS they'll be leaving behind. That's a lot of opportunity for my generation, which will leave lot's of open positions for your generation.


@Donkey. Generations are more than two years long. If he just graduated and you're typing on this forum, you're the same generation.
I have a feeling that many well-aged baby boom-booms will be bagging groceries for me rather than retiring. Or let me rephrase: one day I will be bagging groceries for them and then on another day they'll be bagging groceries for me.
Pug
UR father's brother's nephew's former roommate
+652|5922|Texas - Bigger than France
If you're worried...how many of you are planning to be undertakers?
mtb0minime
minimember
+2,418|6034

Sydney wrote:

chittydog wrote:

Instead of worrying about all the retirement funds the baby boomers will be using (social security isn't enough to live on anyway), think of all the JOBS they'll be leaving behind. That's a lot of opportunity for my generation, which will leave lot's of open positions for your generation.


@Donkey. Generations are more than two years long. If he just graduated and you're typing on this forum, you're the same generation.
Doesn't have to be, my cousin is one year younger than me but one generation above me. His father is my grandmother's brother.
But that's like, family generation. Different than time-you-grew-up-in / cultural generation.
Diesel_dyk
Object in mirror will feel larger than it appears
+178|5374|Truthistan
Is my generation screwed?

Yep, the baby boomers are the original "ME" generation and their selfish attitudes are going to suck us all dry until the day they all die off.

Wonder why the financial markets and wall street are all screwed up? Its all the retirement money that invaded the stock market. the baby boomers were looking for high returns so they can retire to warmer climates at age 55... and leave us hanging with the bill.

ME ME ME ME ME ME ME MINE....
Pug
UR father's brother's nephew's former roommate
+652|5922|Texas - Bigger than France

Diesel_dyk wrote:

Is my generation screwed?

Yep, the baby boomers are the original "ME" generation and their selfish attitudes are going to suck us all dry until the day they all die off.

Wonder why the financial markets and wall street are all screwed up? Its all the retirement money that invaded the stock market. the baby boomers were looking for high returns so they can retire to warmer climates at age 55... and leave us hanging with the bill.

ME ME ME ME ME ME ME MINE....
Well, unless they spend it all, we will also enjoy the intergenerational wealth transfer in history from our parents to help with the bill...
Diesel_dyk
Object in mirror will feel larger than it appears
+178|5374|Truthistan

Pug wrote:

Diesel_dyk wrote:

Is my generation screwed?

Yep, the baby boomers are the original "ME" generation and their selfish attitudes are going to suck us all dry until the day they all die off.

Wonder why the financial markets and wall street are all screwed up? Its all the retirement money that invaded the stock market. the baby boomers were looking for high returns so they can retire to warmer climates at age 55... and leave us hanging with the bill.

ME ME ME ME ME ME ME MINE....
Well, unless they spend it all, we will also enjoy the intergenerational wealth transfer in history from our parents to help with the bill...
That would be nice but I think the inflation waves that are about to hit are going to ensure that when the boomers die off there won't be much left but a nursing home bill.... Also the market crash probably means that a lot of boomers are not going to be able to retire early. They will have to stay in their jobs making the job market tighter for everyone else and they will probably have to work to supplement their retirement after they do retire.
Pug
UR father's brother's nephew's former roommate
+652|5922|Texas - Bigger than France

Diesel_dyk wrote:

That would be nice but I think the inflation waves that are about to hit are going to ensure that when the boomers die off there won't be much left but a nursing home bill.... Also the market crash probably means that a lot of boomers are not going to be able to retire early. They will have to stay in their jobs making the job market tighter for everyone else and they will probably have to work to supplement their retirement after they do retire.
So what skill set do you have that can't beat out a sixty year old for a job?
PureFodder
Member
+225|5665
A shit load of money just got wiped off the price of stock.

That means if you begin investing as you start work you'll likely do much better than if the stock prices hadn't dropped.
topal63
. . .
+533|6098

CameronPoe wrote:

ATG wrote:

What does that mean Cam. The whole system will collapse?

What then, do we eat our children?
It means there will be something akin to the depression of 1929. People didn't need to eat their children then. They got by through massive amounts of government intervention in the economy and in their lives. The unfettered capitalism monster has gorged itself and it now needs to be slain and replaced with responsible capitalism. Earning your rewards needs to replace economic growth that only exists on paper. Moral and ethical responsibility and prudence is key to the future. It's amazing that after 1929 it was allowed to happen again.
The Glass-Steagall Act of 1933 established the Federal Deposit Insurance Corporation (FDIC) in the United States and included banking reforms, much of which were designed to control speculation. Provisions that prohibit a bank holding company from owning other financial companies were repealed on November 12, 1999, by the Gramm-Leach-Bliley Act.

“As a result, the culture of investment banks was conveyed to commercial banks and everyone got involved in the high-risk gambling mentality. That mentality was core to the problem that we’re facing now,” Joseph Stiglitz (2-time Nobel Prize winning economist).
Repealing the act was a double edged sword. It allowed the speculation - while also allowing other institutions to diversify enough to survive and be "diversified" financial scum-sucking societal leeches - with many purely financial-paper revenue streams. That's an IMO, of course.

Last edited by topal63 (2008-10-15 12:41:39)

Flaming_Maniac
prince of insufficient light
+2,490|6087|67.222.138.85

usmarine wrote:

every generation has said the same thing.  stop bellyaching.
bullshit. Every generation has unique problems, and they are certainly not all of the same magnitude. You think the Vietnamese generations before the Vietnam war had the same complaints as the generation that had to deal with the war and its aftermath?

Everything has to come crashing down on someone.
usmarine
Banned
+2,785|6141

Flaming_Maniac wrote:

usmarine wrote:

every generation has said the same thing.  stop bellyaching.
bullshit. Every generation has unique problems, and they are certainly not all of the same magnitude. You think the Vietnamese generations before the Vietnam war had the same complaints as the generation that had to deal with the war and its aftermath?

Everything has to come crashing down on someone.
boo hoo
Flaming_Maniac
prince of insufficient light
+2,490|6087|67.222.138.85

usmarine wrote:

Flaming_Maniac wrote:

usmarine wrote:

every generation has said the same thing.  stop bellyaching.
bullshit. Every generation has unique problems, and they are certainly not all of the same magnitude. You think the Vietnamese generations before the Vietnam war had the same complaints as the generation that had to deal with the war and its aftermath?

Everything has to come crashing down on someone.
boo hoo
Do you see me bitching anywhere?
lavadisk
I am a cat ¦ 3
+369|6209|Denver colorado

OrangeHound wrote:

stryyker wrote:

These past months have got me worried. What is in store for the millions of kids like me? I want to raise a family in this world, if there will still be one left. I mean, almost all of the baby boomers will be retiring within the next 10 years, taking most of the nations retirement funds with them, along with social security, medical benefits, etc.
Take it from someone who has been through economic and "earth-shattering" stuff like this 3-4 times ... you need to learn how to temper the fear that gets hyped by the media.  They are horrid in the way that they make the world fear for no reason at all, but that is their job - fear & drama sells.

Things are not bad.  Things are actually phenomenal compared with just about every period of world history.

Just stop reading and listening to the news and you will be OK.  The only thing in the news that is really meaningful is your local weather forecast.
0akleaves
Member
+183|5993|Newcastle UK
i miss you stryyker, your and pattons shinagians, cant be arsed to spell it properly, yes our generation is screwed but a doubt we will live till we are retiring age.
You have to learn the rules of the game and then you have to play better than anyone else.
S.Lythberg
Mastermind
+429|5826|Chicago, IL
yes, were fucked

good thing my degree grants me marketability around the world
MTNMAC
Member
+6|5757
Honestly, I don't think the "current" generation is screwed because of the economy, social security, or anything of that nature. This generation is screwed because we've gone soft. When the Great Depression struck, folks had it hard, and had to work hard to put food on the table. People were tough, and withstood quite a bit of hardship. It's been a while since folks have seen that hardship. Everyone's looking for the easy way out.
Roc18
`
+655|5170|PROLLLY PROLLLY PROLLLY
We might be, anything can be expected from the 21st century. But right now I dont think so.

Last edited by Roc18 (2008-10-15 18:21:04)

Laika
Member
+75|5323
I think it depends. If our generation takes responsibility for its own future then we'll be fine.
Flecco
iPod is broken.
+1,048|6045|NT, like Mick Dundee

MTNMAC wrote:

Honestly, I don't think the "current" generation is screwed because of the economy, social security, or anything of that nature. This generation is screwed because we've gone soft. When the Great Depression struck, folks had it hard, and had to work hard to put food on the table. People were tough, and withstood quite a bit of hardship. It's been a while since folks have seen that hardship. Everyone's looking for the easy way out.
This man speaks the truth.

The west has gone soft....
Whoa... Can't believe these forums are still kicking.
RoosterCantrell
Goodbye :)
+399|5860|Somewhere else

No Children, live like a hobo, learn survival skills, enjoy the freedom from bills.  Let cities turn back into small true tight knit self preserving communities.

No more dumbasses with their shiny cars and designer clothes paid with credit cards, no reality TV, very little TV.  Back to Books and Brains...

Some say Im a dreamer... but Im not the only one.
Flaming_Maniac
prince of insufficient light
+2,490|6087|67.222.138.85

RoosterCantrell wrote:

No Children, live like a hobo, learn survival skills, enjoy the freedom from bills.  Let cities turn back into small true tight knit self preserving communities.

No more dumbasses with their shiny cars and designer clothes paid with credit cards, no reality TV, very little TV.  Back to Books and Brains...

Some say Im a dreamer... but Im not the only one.
This ain't no Fahrenheit 451 yet.
Pug
UR father's brother's nephew's former roommate
+652|5922|Texas - Bigger than France
Well, "Is my generation screwed?"

Only if you let it.  Understand the challenges and the opportunities.  Focus on what is given to you.  Plan for your own future, because your interests may not be those of others.  Get the skill set to meet your plan.

It's the same as any generation.  And it starts with taking on the challenges and responsibility, isn't of assigning the blame.

As my Pop says - there's two types of people in this world - those that earn a living by using their back, and those that earn a living using their brain.  You choose.

Last edited by Pug (2008-10-16 06:14:04)

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