The current course we're on is terrible and will end badly if something doesn't change. Birth rates all over the West are down. New housing in US show in the last 2 years, boomer generation bought more houses than any other group. Home prices are up and % of houses bought with cash at all-time highs.

$42T of new wealth created in last two years. $26T went to top 1% and $16T went to remaining 99%. That's not healthy for society.

The under 40 crowd has been effed over and over and they will be leading this country in the next 20 years. Those under 40 graduated into the worst job market in many years and around the time they start to build a decent savings, COVId and home prices and mortgages aren't affordable. If you're under 40 and are successful more likely than not I bet parents helped out a lot. If you're successful under 40 and didn't have parents help then you are an effing beast.

There is so much resentment young people have towards older people that when this group of young people gets older and gets leadership roles they will punish the older generation as much as they can. I think a bigger death tax is definitely coming. More redistribution is coming.

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The under 40 crowd has been effed over and over

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Please elaborate.

Leftism completely destroys everything. Hard hitting news man. Not like we haven't been saying this for several decades on Texags now.

Your premise is wrong. The west is not capitalist anymore.

How is 16 trillion dollars going to people a bad thing? Answer without reference to envy for other people making more money. For reference, This is the gdp of countries in 2023. American capitalism gave 99% of its citizens more gdp than almost every country in the world, and that is a bad thing? How exactly? (again, without reference to envy or greed because someone else's made more money). This seems to actually be a good thing?

United States (GDP: 20.49 trillion)
China (GDP: 13.4 trillion)
Japan: (GDP: 4.97 trillion)
Germany: (GDP: 4.00 trillion)
United Kingdom: (GDP: 2.83 trillion)
France: (GDP: 2.78 trillion)
India: (GDP: 2.72 trillion)
Italy: (GDP: 2.07 trillion)
Brazil: (GDP: 1.87 trillion)
Canada: (GDP: 1.71 trillion)

It's just another version of the Dem policy of envy... have to pit one group against another and stoke the flames to stay in power.

The standard of living today in the US is better than it's ever been due to advances in medicine and technology. Many of the "poor" in this country on the government teat would be considered well-to-do in other countries.

But none of that matters... gotta stoke those flames!

Capitalism is not the problem. The problem is government overspending and artificial control on interest rates.

MemphisAg1 said:

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The standard of living today in the US is better than it's ever been due to advances in medicine and technology. Many of the "poor" in this country on the government teat would be considered well-to-do in other countries.

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Yep. We have the fattest, richest poor people in the world. They all have big screen TVs, the newest, top of the line cell phones, and many have a car/SUV that costs more than most middle class people make in a year.

Old May Banker said:

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The under 40 crowd has been effed over and over

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Please elaborate.

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Sure-

Social Security will be defunct in its current form because boomers absolutely refused to restructure back in the 90's.

Housing bubble caused by rampant speculation destroyed career prospects for new college graduates for the under 40 crowd putting them behind in earning in comparison to previous generations. They entered a job market in which they either could not go into their field because there was no hiring or had to take lower wages because the job market dictated it.

Rampant college costs which were created by administration and free college money which the previous generations who controlled the systems refused and still refuse to reign in.

The 30-40 crowd is a generation who graduated in the worst economic conditions since the Great Depression, couldn't get hired out of college, and got stuck barista'ing for 5 years while the economy recovered while trying to find a way to enter the job marker while being saddled with the biggest numbers of college debt ever.

By the time they retire social security will be dead because elder generations refused to fix it and the generations that will supposed to be paying into these programs will be too small to keep them running.

Got wedged between absolute ****ty millenials and selfish boomers.

That being said, capitalism was never the problem. It was GenX and boomers overspeculating, gaming the system to create bubbles, and voting themselves ever larger amounts from government programs that ****ed us.

That being said, while we got stuck between the 2 worst generations ever in American history, I am still doing fine mostly because I know how steep that uphill climb is and have my eyes wide open. Unfortunately most of the people in my generation don't see any of this and will get slammed.

Bregxit said:

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GenX are bad guys now?

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His assessment is correct though I would place the majority of the blame on the boomers. Gen X is too small of a group to have made much of a policy impact (excuding odumba of course)

Old May Banker said:

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Quote:

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The under 40 crowd has been effed over and over

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Please elaborate.

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Assuming you're 35, you graduated into the worst job market. There was a law school enrollment boom in early 2010s because people took on more debt to go to school to wait out bad job market. Their other options were to take a low paying job and hope for the best. And if they didn't have rich parents, they had student loan debt and few dollars left to invest in a great bill market. Average person under age 30 is more debt today than in 1988 by wide margin. Average person under age 30 is less likely to be married and have a family than in 1980s well. The damage from 2008 is really starting to be seen now.

By time they start to gain momentum and start investing in the market and buy a house, another financial crisis from Covid. No other generation had 2 major financial crisis early in their career. If they missed that window to buy a house they're stuck now.

I'm 2 generations from grandparents born to share croppers during the great depression. Born into homes with no running water or electricity and the thought of graduating HS, let alone college, as foreign an idea as speaking mandarin Chinese would be to me. A generation of folks that would be sent to fight and die in places all over the globe in the name of freedom and forced to really work hard just to survive... and your gripes are that SS may be defunct and it's hard to buy a home?

Dan Scott said:

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Old May Banker said:

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The under 40 crowd has been effed over and over

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Please elaborate.

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Assuming you're 35, you graduated into the worst job market. There was a law school enrollment boom in early 2010s because people took on more debt to go to school to wait out bad job market. Their other options were to take a low paying job and hope for the best. And if they didn't have rich parents, they had student loan debt and few dollars left to invest in a great bill market. Average person under age 30 is more debt today than in 1988 by wide margin. Average person under age 30 is less likely to be married and have a family than in 1980s well. The damage from 2008 is really starting to be seen now.

By time they start to gain momentum and start investing in the market and buy a house, another financial crisis from Covid. No other generation had 2 major financial crisis early in their career. If they missed that window to buy a house they're stuck now.

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We will also live long enough to participate in the collapse of the US empire, super fun times.

It's always someone else's fault

The young adults & the minorities in this country bear no responsibility for the decisions they make

Good job boomers

A generation of people who feel they are entitled to 6 figure starting salaries, 4 day work weeks, and to be able to work from home, and, somehow, this is the boomers/gen xers' fault? Ok man.

Plenty of jobs making good money for the under 40.

They just aren't training themselves to be qualified for them.

A higher than normal percentage of Under 40 doesn't want to work hard or take jobs that are hard work.

The only bad hand they've been dealt is bad parenting and bad government.

The primary problem is the federal government borrowing and spending way way too much money on crap we don't need, like growing government and wars we have no business being in.

Ags try to resist attempts by the OP and others to divide Americans based on age, race, income or anything else. That's just a distraction from the real problem, which is a gigantic, out of control government that serves its own needs at the peril of American citizens.

The under 40 crowd has been effed over and over and they will be leading this country in the next 20 years. Those under 40 graduated into the worst job market in many years


Ummmm

Many millennials, and certainly GenZ have been raised to be victims if they can't immediately have what their parents have after decades. They were raised with a lot more and they're not willing to go without their expensive coffees, manicures, and pedicures, their cell phones, etc.

Thankfully there's a lot of good ones out there too but do you want to sit there and say how bad they have it after what we've seen in our country with the Great Depression in the 30s and then the 70s and 80s steel and oil busts?

Plenty of good jobs out there for under 40. They just seem to whine about it a little more. And many of them expect to get a much higher paying job at a college that is realistic. So they don't take any job and then they're screwed. Again, it's a little bit about entitlement. Not all of them but many.

Get a little perspective, dude

Dan Scott said:

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The current course we're on is terrible and will end badly if something doesn't change. Birth rates all over the West are down. New housing in US show in the last 2 years, boomer generation bought more houses than any other group. Home prices are up and % of houses bought with cash at all-time highs.

$42T of new wealth created in last two years. $26T went to top 1% and $16T went to remaining 99%. That's not healthy for society.

The under 40 crowd has been effed over and over and they will be leading this country in the next 20 years. Those under 40 graduated into the worst job market in many years and around the time they start to build a decent savings, COVId and home prices and mortgages aren't affordable. If you're under 40 and are successful more likely than not I bet parents helped out a lot. If you're successful under 40 and didn't have parents help then you are an effing beast.

There is so much resentment young people have towards older people that when this group of young people gets older and gets leadership roles they will punish the older generation as much as they can. I think a bigger death tax is definitely coming. More redistribution is coming.

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I am barely over 40 but the interesting thing about this group is most of our problems are because of too much government. Money spent by leftist on an untenable social security funding model and neocons spending on never ending wars with no end goal. Their solution is, of course, to vote to increase the government size more and more.

texagbeliever said:

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Your premise is wrong. The west is not capitalist anymore.

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Correct. Free market capitalism requires oversight and regulation to ensure easy entry and exit. Big corporations convinced the public to support monopolies in the name of efficiency and low prices.
Imho, this is the root of of our current woes and loss of freedom.

Western civilization will be alive and well long after the OP has died.

And the generation thing…decades ago when at A&M there were old guys telling me that 'New Army' was a joke and 'Old Army Is Dead'.

Then new army eventually became old army and wash-rinse-repeat

Pumpkinhead said:

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Western civilization will be alive and well long after the OP has died.

And the generation thing…decades ago when at A&M there were old guys telling me that 'New Army' was a joke and 'Old Army Is Dead'.

Then new army eventually became old army and wash-rinse-repeat

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Western civilization died a long time ago. We are living under a technocratic globohomo regime.

Dan Scott said:

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I think a bigger death tax is definitely coming. More redistribution is coming.

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Death tax hurts the younger folks receiving the inheritance.....not sure why a bunch of 40 to 60 year olds who stand to receive the largest inheritance of wealth in the history of the planet would choose to pass legislation to give more of that to the government.

Obama was born in '61. Boomer.

Geddy Lee soul patch said:

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Obama was born in '61. Boomer.

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Oh damn. Figures .

Dan Scott said:

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The current course we're on is terrible and will end badly if something doesn't change. Birth rates all over the West are down. New housing in US show in the last 2 years, boomer generation bought more houses than any other group. Home prices are up and % of houses bought with cash at all-time highs.

$42T of new wealth created in last two years. $26T went to top 1% and $16T went to remaining 99%. That's not healthy for society.

The under 40 crowd has been effed over and over and they will be leading this country in the next 20 years. Those under 40 graduated into the worst job market in many years and around the time they start to build a decent savings, COVId and home prices and mortgages aren't affordable. If you're under 40 and are successful more likely than not I bet parents helped out a lot. If you're successful under 40 and didn't have parents help then you are an effing beast.

There is so much resentment young people have towards older people that when this group of young people gets older and gets leadership roles they will punish the older generation as much as they can. I think a bigger death tax is definitely coming. More redistribution is coming.

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This is total BS. The under 40 crowd has had some of the best opportunities to excel in life. It's all about seeking out and taking those opportunities.

Life is what YOU make of it. At the end of the day, if you are not happy where you are in life you need to either look in the mirror and/or quit comparing yourself to others. PERIOD!

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The under 40 crowd has had some of the best opportunities to excel in life. It's all about seeking out and taking those opportunities.

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Talk about BS!!!

These Millennials can't be expected to work for anything. That may hurt their feels. Need to be given everything. Preferably on a silver platter.

Fireman said:

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Dan Scott said:

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I think a bigger death tax is definitely coming. More redistribution is coming.

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Death tax hurts the younger folks receiving the inheritance.....not sure why a bunch of 40 to 60 year olds who stand to receive the largest inheritance of wealth in the history of the planet would choose to pass legislation to give more of that to the government.

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My family set up LLCs and Trusts to avoid inheritance taxes for future generations. People with enough wealth to worry about such things often pay attorneys to solve the problem.

A huge portion of the under 40 crowd should have learned a trade instead of going to a university

Dan Scott said:

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. If you're under 40 and are successful more likely than not I bet parents helped out a lot. If you're successful under 40 and didn't have parents help then you are an effing beast.

There is so much resentment young people have towards older people that when this group of young people gets older and gets leadership roles they will punish the older generation as much as they can. I think a bigger death tax is definitely coming. More redistribution is coming.

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What are we defining as successful? 33, 8 mo old, own a house in kc, some college help and that's it.

It's not that hard to get a good degree and not spend money on frivolous bs.

Do I wish I could have met my wife 5 years earlier and bought a house in 2017? Yeah, we'd still be in Colorado not kc, but I'm not mad at the world and going to "punish" anyone. A bigger death tax punishes more than the olds.

I don't get why we're so focused on everyone else instead of ourselves, maybe that's why you aren't a beast?

Rapier108 said:

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MemphisAg1 said:

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The standard of living today in the US is better than it's ever been due to advances in medicine and technology. Many of the "poor" in this country on the government teat would be considered well-to-do in other countries.

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Yep. We have the fattest, richest poor people in the world. They all have big screen TVs, the newest, top of the line cell phones, and many have a car/SUV that costs more than most middle class people make in a year.

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That reminds me of the remarks of a foreign observer about the Poor People's March on Washington in 1968 (I had to look up the year).

He was looking around at the marchers said something like this "Where are the poor? These people have good clothes. They have shoes. They are well nourished. They aren't poor."

$42T of new wealth created in last two years. $26T went to top 1% and $16T went to remaining 99%.

People that focus on this are generally just looking for a grievance. It shows how little they understand economics and/or just play politics with the poor and rile them up.
If you are in the top 1%...the interest alone will generate a massive (relative) amount of money. That doesn't include the increased value of their investments and real estate.