Will The Real “Me” Generation Please Stand Up?

[editec]

What the critical issue the “Baby-Boom” generation fails to see is that millennia’s wont have the opportunity for a pension, social security, or any middle to upper-class safety net.

Poppycock.

We totally see the problem.

After all, kid, its our generation who has been suffering thee slow erosion of incomes and benefits.

And we certain can see that these 40 year TREND isn't getting any better, too.

Actually the only danger I see to Social Security is a political one. If enough people are conned into believing that Social Security will go belly up (which it can't under the existing laws), they may be able to push a political "solution" that privatizes Social Security for younger workers. This is the bonanza Wall Street is lobbying for, make all the retirees bear the risk of bad investment results while Wall Street collects management fees whether the portfolios go up or down. Social Security can only fail for future generations if they buy into the rubbish and make it so.

I'm not talking SOCIAL SECURITY I'm talking benefits from working..retirement, pensions, profit sharing ect.

Its been getting worse for American workers for the BABY BOOMERS entire working lives.

And its going to suck every larger for the kids just starting out, too.

FACE IT...the value of HUMAN LABOR is ERODING.

 

[EdwardBaiamonte]

and the point is??????????????????

That colleges apparently don't teach people how to compose paragraphs and use spacebars.

Kid no one forced you to get a degree that you would not be able to use. And one of the defining aspects of generation whine.. I mean me...is they always expect to make big coin right out of the gate.

all that has been true forever so I dont see it as an important point

 

[EdwardBaiamonte]

Actually the only danger I see to Social Security is a political one.

Of course thats idiotic since SS is bankrupt today just as the baby boomers are beginning to retire in big numbers. Liberals love to lie telling us that the trust fund was somehow not stolen by a liberal government now $16 trillion in debt.

If I were about to retire I'd have lot's of confidence that my pension was in the hands of a fidicuary $16 trillion in debt with $75 trillion in unfunded liabilities. Where's the danger in that??

Also, to continue your education, Wall Street fees would be tiny and reasonable if crony socialist liberals would make it legal for us to impose capitalism on Wall Street.

 

[YoungRepublican]

and the point is??????????????????

That colleges apparently don't teach people how to compose paragraphs and use spacebars.

Kid no one forced you to get a degree that you would not be able to use. And one of the defining aspects of generation whine.. I mean me...is they always expect to make big coin right out of the gate.

No one forced me to go to college? Ha, that's the best one ive heard in a while. Good luck finding a decent job in this world without at least a bachelors degree.

 

[Politico]

That's clearly not what I said. Dodge failed.

 

[YoungRepublican]

That's clearly not what I said. Dodge failed.

Uh my degree will be a JD, one that allows me to make coin, right out of the gate. Because generation Me needs to make money in order to support where the original Me generation has fallen short.

 

[Politico]

Then you have no complaints. Congrats.

 

[oldfart]

Poppycock.

We totally see the problem.

After all, kid, its our generation who has been suffering thee slow erosion of incomes and benefits.

And we certain can see that these 40 year TREND isn't getting any better, too.

Actually the only danger I see to Social Security is a political one. If enough people are conned into believing that Social Security will go belly up (which it can't under the existing laws), they may be able to push a political "solution" that privatizes Social Security for younger workers. This is the bonanza Wall Street is lobbying for, make all the retirees bear the risk of bad investment results while Wall Street collects management fees whether the portfolios go up or down. Social Security can only fail for future generations if they buy into the rubbish and make it so.

I'm not talking SOCIAL SECURITY I'm talking benefits from working..retirement, pensions, profit sharing ect.

Its been getting worse for American workers for the BABY BOOMERS entire working lives.

And its going to suck every larger for the kids just starting out, too.

FACE IT...the value of HUMAN LABOR is ERODING.

I agree with you that real wages have been declining for over thirty years and benefits have become increasingly limited. For most of that period, the share of wage income has remained pretty stable, but it has fallen dramatically since 2007. Social Security has become the only major remaining defined benefit retirement system left. We used to have private defined benefit systems, but defunding them became too attractive to corporate raiders and they are disappearing in favor of plans that place the responsibility for funding and the risk of investment results on the worker (defined contribution plans). People can and should try to compensate for this in their personal financial planning, but it is a rigged game. Individual worker action is not a replacement for sound public policy.

My point was that the public relations assault on Social Security and similar measures is an attempt to dismantle programs that work and are irreplacable in favor of programs that will enrich a few while impoverishing the rest while placing the blame on the people who are being harmed.

 

[EdwardBaiamonte]

My point was that the public relations assault on Social Security and similar measures is an attempt to dismantle programs that work .

Social Security works?????????????????

An average American would retire with an estate of $1.4 million if they invested 15% of their lifetime income in a private account!! With SS you get about 20% of the income, if you live long enough to collect a penny, and have no estate whatsoever to leave you heirs or blow on a yacht.

Only a liberal would have the pure ignorance to say SS works!! It's right up the with Castro still insisting that communism works.

 

[Luissa]

That's clearly not what I said. Dodge failed.

Uh my degree will be a JD, one that allows me to make coin, right out of the gate. Because generation Me needs to make money in order to support where the original Me generation has fallen short.

Good luck with that. I should give you my friend number who is a lawyer. He can explain to you what his starting wages were compared to what he had to pay in student loans.

 

[oldfart]

Social Security works?????????????????

Yes Ed, the direct deposits show up on time in the bank accounts of retirees every month.

An average American would retire with an estate of $1.4 million if they invested 15% of their lifetime income in a private account!! With SS you get about 20% of the income, if you live long enough to collect a penny, and have no estate whatsoever to leave you heirs or blow on a yacht.

Tell that to the millions who lost most or all of their 401(k)'s in the market collapse.

 

[EdwardBaiamonte]

Yes Ed, the direct deposits show up on time in the bank accounts of retirees every month.

how generous of the liberals to give us back about 20% and steal about 80%!!!!!

Tell that to the millions who lost most or all of their 401(k)'s in the market collapse.

actually markets have recovered, are higher than ever, and people are making a fortune now!! Its effortless to beat the government return when they steal 80%. Plus, you sleep better knowing your pension is in private hands subject to the legal system rather than in the hands of a larcenous, bankrupt, liberal government that stole 100% of the trust fund, got away with it, and still has 100 $trillion in unfunded liabilities.

 

[Luissa]

That's clearly not what I said. Dodge failed.

Uh my degree will be a JD, one that allows me to make coin, right out of the gate. Because generation Me needs to make money in order to support where the original Me generation has fallen short.

Good luck with that. I should give you my friend number who is a lawyer. He can explain to you what his starting wages were compared to what he had to pay in student loans.

 

[EdwardBaiamonte]

That's clearly not what I said. Dodge failed.

Uh my degree will be a JD, one that allows me to make coin, right out of the gate. Because generation Me needs to make money in order to support where the original Me generation has fallen short.

actually only 55% of law graduates get a job!! those that do often work 70 hour weeks and have no life and are substance abusers. I hope you know that??

 

[Rshermr]

Yes Ed, the direct deposits show up on time in the bank accounts of retirees every month.

how generous of the liberals to give us back about 20% and steal about 80%!!!!!

Tell that to the millions who lost most or all of their 401(k)'s in the market collapse.

actually markets have recovered, are higher than ever, and people are making a fortune now!! Its effortless to beat the government return when they steal 80%. Plus, you sleep better knowing your pension is in private hands subject to the legal system rather than in the hands of a larcenous, bankrupt, liberal government that stole 100% of the trust fund, got away with it, and still has 100 $trillion in unfunded liabilities.

How about that market, ed, me boy. Now, you must really want to congratulate Obama on the sterling job he has done of bringing back the market after the shrub tanked the market.

Now, try to understand, ed. SS is not an investment plan. It is, quite simply, an insurance policy. You pay in and support the generation ahead, the next generation does the same for you. There is no huge balance needed. So, you missed the point that Oldfart laid on you. Either you are simply butt stupid (a distinct possibility) or you are simply dishonest (also a distinct possibility). If SS had been privatized, and turned into a huge investment plan, then those that retired in 2007 through 2012 would have been what is technically called SCREWED. And you see, me boy, many, many of those that get ss could not afford to be screwed.

Now, I know that you always pass the Koch test. If it would be good for the Koch Brothers, then you like it. Just like those in politics who see that you get paid to post, you have to be sure to support the Koch Bros. wants and needs, so they keep paying the politicians who pay you.

So, me boy, you may want to take a look at what happened when the shrub went out to privatize ss after his re-election in 2004. Went over like a turd in a punch bowl. But keep on pushing it. Because that is the con dogma straight from the bat shit crazy con web sites that you get your talking points from. And forget the electorate. As long as you can make the financial industry fatter, you would be all for it. Passes the koch test.

 

[EdwardBaiamonte]

If SS had been privatized, and turned into a huge investment plan, then those that retired in 2007 through 2012 would have been what is technically called SCREWED.

1) they could have postponed retirement as everyone does now anyway

2) even at its worst the market was down by half which is still far better than letting the liberals steal 80% of your pension

3) ask Americans if they would like to retire rich or with the dog food money liberals offer as SS!!

4) if we had the sense to privatize SS we would also privatize the mortgage market and there would be no danger of a liberal housing crisis.

5) always remember, capitalism made us rich, but liberals stole the money!!

6) you said there is no need for a balance?? Wrong!!!That's why they created the trust fund. As it turns out even that was stolen by the despicable liberals you love so much.

 

[YoungRepublican]

That's clearly not what I said. Dodge failed.

Uh my degree will be a JD, one that allows me to make coin, right out of the gate. Because generation Me needs to make money in order to support where the original Me generation has fallen short.

actually only 55% of law graduates get a job!! those that do often work 70 hour weeks and have no life and are substance abusers. I hope you know that??

As they say it isn't what you know it is who you know. I am totally ready to work 70 plus hours a week in order to advance my professional life as quick as possible. Man it is moral high ground around here. Ya, some people who have high stress jobs need to do a little snif snif in order to get things done. I could be a car insurance salesman and go home at five and enjoy a nice dinner, but that's just not what I want. I want stress and competition, that life just isn't for everyone.

 

[EdwardBaiamonte]

Uh my degree will be a JD, one that allows me to make coin, right out of the gate. Because generation Me needs to make money in order to support where the original Me generation has fallen short.

actually only 55% of law graduates get a job!! those that do often work 70 hour weeks and have no life and are substance abusers. I hope you know that??

As they say it isn't what you know it is who you know. I am totally ready to work 70 plus hours a week in order to advance my professional life as quick as possible. Man it is moral high ground around here. Ya, some people who have high stress jobs need to do a little snif snif in order to get things done. I could be a car insurance salesman and go home at five and enjoy a nice dinner, but that's just not what I want. I want stress and competition, that life just isn't for everyone.

well good luck. I hope you don't find it empty or mere make-work, or unnecessarily adversarial and combative.

 

[Luddly Neddite]

I would like you to answer just a few questions to yourself if you are over the age of 55. Did you have college loans upward of 100,000 dollars?

I didn't wade through all that (LEARN to write and learn about white space!) but

I remember working two jobs to pay for my college education. On payday, I would go to the Financial Office and give them a check, "on account". When I graduated, I had no debt, either to the college or anyone else.

I feel for you. I really do. But, even though I think the current system sucks, its the hand you've been dealt. Good luck and the only real advice I'll give you is simply this - Pay yourself first. No matter what your debt load or what you want, put 10% of every single penny of income into an untouchable account. Forget interest cuz there isn't any. Just put the money away and don't touch it.

As for Ed dear and the silly love he has for Communist China, maybe the board will give him his own forum where he can post the same garbage, over and over and over and over and ........................

 

[EdwardBaiamonte]

the silly love he has for Communist China,......

dear, there is nothing silly about the greatest Republican miracle in human history that eliminated 40% of world poverty and prevented perhaps 30 million from slowly starving to death!! Notice how being a creepy liberal makes you turn your nose up at the possibility of 30 million dead people!! That's in the end what liberalism is. It would rather see millions die than face its own pure and deadly ignorance.