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Started By
Message
Baby Boomers are facked.
Posted on 3/11/09 at 7:14 pm
Posted on 3/11/09 at 7:14 pm
Per a link on Mish.
LINK
quote:
The median household with a person between the ages of 45 to 54 saw its net worth fall by more than 45 percent between 2004 and 2009, from $172,400 in 2004 to just $94,200 in 2009 (all amounts are in 2009 dollars). If the median late baby boomer household took all of the wealth they had accumulated during their lifetime, they would still owe approximately 45 percent of the price of a typical house and have no other assets whatsoever.
LINK
4
Posted on 3/11/09 at 7:42 pm to Tigris
A return to communal hippiesm. Sharing - what a novel concept. I suppose the whole country will have no choice but to swing this way in coming years.
This post was edited on 3/11/09 at 7:49 pm
Posted on 3/11/09 at 7:55 pm to Tigris
thank god I married an heiress...
Posted on 3/11/09 at 8:03 pm to Tigris
The baby boomers are probably the least responsible generation this country has ever seen. They deserve the bulk of the credit for the inevitable collapse of the US financial system. Social security (generational theft/ponzi scheme), removing the gold standard, Vietnam... They are typically much worse than their parents(and children) with personal finances as well and they have high expectations for their lifestyle/retirement.
I know there are many smart and responsible baby boomers, but they were outnumbered. I fear generation X (great start with Obama
) will be as bad or worse. My generation (Y) probably won't get the opportunity to screw things up worse, but will mostly suffer the consequences of previous generations. My generations might have to lead the revolution when/if the dollar falls.
I know there are many smart and responsible baby boomers, but they were outnumbered. I fear generation X (great start with Obama
) will be as bad or worse. My generation (Y) probably won't get the opportunity to screw things up worse, but will mostly suffer the consequences of previous generations. My generations might have to lead the revolution when/if the dollar falls.This post was edited on 3/11/09 at 8:05 pm
Posted on 3/11/09 at 8:06 pm to eelsuee
quote:
I fear generation X...will be as bad or worse
Posted on 3/11/09 at 8:19 pm to eelsuee
quote:
The baby boomers are probably the least responsible generation this country has ever seen.
that's why they call us Generation Fail...
quote:
They deserve the bulk of the credit for the inevitable collapse of the US financial system. Social security (generational theft/ponzi scheme), removing the gold standard, Vietnam...
we invented a whole bunch of good shite too though. The ultimate question is, did we invent stuff that was good, but was easily leveraged for evil (Internet, Cheap Computing, the Spreadsheet, etc)
Posted on 3/11/09 at 8:29 pm to ForeLSU
quote:
we invented a whole bunch of good shite too though.
And some really bad shite too.
This post was edited on 3/12/09 at 6:14 am
Posted on 3/11/09 at 8:45 pm to Tigris
quote:
And some really bad shite too.
angelfire image hosting is bad??
Posted on 3/11/09 at 9:14 pm to Tigris
Not all baby boomers are facked. Some had the good sense to stear clear of professional financial advisors. 
Posted on 3/11/09 at 9:31 pm to eelsuee
quote:
The baby boomers are probably the least responsible generation this country has ever seen.
quote:
generation X (great start with Obama
there have been three Presidents from the BabyBoom generation, one was impeached, one finished with the lowest approval ratings in decades, one is Obama
Posted on 3/11/09 at 9:41 pm to TigerintheNO
So no generation is perfect. Is that all the fault you can find with the boomers? There were some pretty sorry presidents before the boomers came along. Wilson and Hoover were not exactly perfect. The first was a delusional laughing stock and the second nearly drove America into the arms of socialists.
Anyway, this is a topic for another board. Pointing fingers at any particular generation is 'genrealization', which is not a good ideal.
Anyway, this is a topic for another board. Pointing fingers at any particular generation is 'genrealization', which is not a good ideal.
Posted on 3/11/09 at 9:44 pm to Rivers
quote:
So no generation is perfect. Is that all the fault you can find with the boomers
no just adding to eelsuee post of:
quote:
The baby boomers are probably the least responsible generation this country has ever seen. They deserve the bulk of the credit for the inevitable collapse of the US financial system. Social security (generational theft/ponzi scheme), removing the gold standard, Vietnam... They are typically much worse than their parents(and children) with personal finances as well and they have high expectations for their lifestyle/retirement.
Posted on 3/11/09 at 9:45 pm to eelsuee
quote:
Social security (generational theft/ponzi scheme), removing the gold standard, Vietnam
None were implemented by Baby Boomers. Social security was FDR as was removal of gold standard (Nixon just removed the final tether to the dollar in 1971). Vietnam was JFK's baby and LBJ ramped it up. Both were of the WW2 generation.
Posted on 3/12/09 at 12:33 pm to eelsuee
quote:Except that none of these were do0n by Boomers.
Social security (generational theft/ponzi scheme), removing the gold standard, Vietnam
Posted on 3/12/09 at 1:04 pm to eelsuee
quote:
I fear generation X (great start with Obama ) will be as bad or worse. My generation (Y) probably won't get the opportunity to screw things up worse
Read an article yesterday that suggested because Gen X was the latchkey kid generation we were taught at an early age that we had to take care of ourselves. I'd say that's a pretty good take as I've always figured I'd both have to save for my own retirement and contribute to an SS system that would screw me over.
This post was edited on 3/12/09 at 1:06 pm
Posted on 3/12/09 at 2:34 pm to eelsuee
quote:
My generation (Y)
is that what the next generation is called? Y
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