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I'm bullish on Gen Z. Yes I am biased. But I see a lot of good stuff in my sons and many of the teens they associate with. IMO, a more sophisticated Gen X.

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Same here. My sons and their friends seem to be doing just as well or better than my generation was at their age.

YouBet said:

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I don't think people realize how bad this is going to get. Almost no one saves any money. 50% of the population literally has $0 in savings. The ones that do save have enough (on average) to last about 1 year.

Combine with us living longer and you are going to have homelessness and long-term healthcare needs causing massive strains to the public coffers. It will be the next big welfare play.

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Its the most difficult time to save as I have ever seen in my 43 years

YouBet said:

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I don't think people realize how bad this is going to get. Almost no one saves any money. 50% of the population literally has $0 in savings. The ones that do save have enough (on average) to last about 1 year.

Combine with us living longer and you are going to have homelessness and long-term healthcare needs causing massive strains to the public coffers. It will be the next big welfare play.

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Full scale socialism over the next 20-30 years almost feels inevitable. On one hand, I feel extremely blessed by God to have a beautiful little two and a half year old girl that we thought we could never have, on the other hand, I worry immensely about the future world she will inherit.

The 80's and 90's were our high water mark. I am thankful to have come up in those years. It was amazing.

The boomers aren't at fault for the game theory presented for success by their elders and betters. They followed the trends, listened to trusted sources in the media and politics and followed directions.

The problem is that the messaging was wrong. Not only that but the data presented, like inflation, caused false perceptions of present day and future results.

They witnessed some of the most addicting media behaviors ever invented, and have been studied relentlessly from every angle and every business school focused on "how do we continue to extract wealth from this generation," for decades.

Their loyalty to brands and personalities has unfortunately been their undoing. Those brands and personalities never had the boomers best intentions at heart, only the acquisition of as much wealth as feasible from said consumers.

I feel for this generation. Most will never meet a criteria for complete retirement, as inflation is approaching 10%+ if you don't listen to government statistics. They've been lied to their whole lives, unwittingly.

And the worst part?

Most of the boomers are going to die in some nursing home, alone, without family nearby as we've completely disassociate ourselves from caring for our elders preferring to send them to strangers instead of obligating ourselves of the burdens of death of our parents and grandparents. The experiences and heritages will disappear and not get passed along to the next generations.

I hate it.

Dimebag Darrell said:

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YouBet said:

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I don't think people realize how bad this is going to get. Almost no one saves any money. 50% of the population literally has $0 in savings. The ones that do save have enough (on average) to last about 1 year.

Combine with us living longer and you are going to have homelessness and long-term healthcare needs causing massive strains to the public coffers. It will be the next big welfare play.

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Full scale socialism over the next 20-30 years almost feels inevitable. On one hand, I feel extremely blessed by God to have a beautiful little two and a half year old girl that we thought we could never have, on the other hand, I worry immensely about the future world she will inherit.

The 80's and 90's were our high water mark. I am thankful to have come up in those years. It was amazing.

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Absolutely agree with your last paragraph. We got to see the apex of the greatest country to ever exist on this planet.

All things must end and it has.

Boomer semi retired
Engineer
Still knocking down 6 figures working part time.
Nice savings, no debt.

Key:
Still married to the bride of my youth.

Lol, right.

I was at the AFA Conference earlier today at National Harbor

and driving back along the Clara Barton Freeway in DC there are literally tent camps of homeless people

Sid Farkas said:

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My take as a working, late-late-Boomer, past 54 y/o...

Early Boomers tend to have the same habits as the Greatest Generation...thrift, deferred pleasure, stable families, home ownership...something happened in the late-60's that turned it all upside down: consumerism, narcissism, naive progressivism...

we got rich, but wasted our wealth on ****, instead of planning for the future. I'll bet most of the homeless boomers once lived beyond their means, and are now paying the price.

use them as an example of how not to live.

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pretty positive that most of the homeless suffer from mental problems or drug use

it's not because they spent too much money that they end up homeless

it's that their lives spin out of control through drugs (to ease the mental illness) or the drugs led to homelessness which leads to near insanity

Rocky Rider said:

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The majority of people of retirement age have lived their entire life w/o a plan for retirement. The median net wealth of individuals over the age of 60 is shockingly low. Most of them could have been prepared but could not control their spending / saving. I don't feel sorry for them.

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I watch dozens of Youtube videos on this exact concept every month

I'm 52 and planning to early retire in a few years and do other things so spend a huge amount of time analyzing the best actions

it's shocking how little savings the majority of Americans have- and how they spent literally trillions in handouts from the Covid years on the nicest cars, trucks, boats, vacations

while people like me were hunkering down and saving and saving and not getting handouts.

it's going to be a huge problem in American society in 2032 when social security goes bankrupt

Waffledynamics said:

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Imagine being the biggest beneficiaries of generational theft in history and still having homelessness problem.

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A 5 gallon bucket couldn't fit the broad brush you're painting with. And, it's the generations that follow that keep asking for, expecting more free beanies. Yes, I know, ever boomer got rich on your back.

You're in, cough.... cough... control now, why haven't you stopped it?

This is an extraordinary situation. Boomers have no savings and inflation is killing them which is leading to homelessness now. It's not drugs or mental illness.

There are numerous anecdotes in the article. Those people are not druggies.

Waffledynamics said:

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geoag58 said:

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Waffledynamics said:

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geoag58 said:

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Waffledynamics said:

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Imagine being the biggest beneficiaries of generational theft in history and still having homelessness problem.

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Should the person who incessantly defends and absolutely loves a war that was started over one grift and has morphed into another grift really be talking about generational theft?

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I don't care about your opinions on that other topic, but I want to point out the utter hilarity of someone complaining about a rounding error in our budget while ridiculing my commentary about literal trillions of entitlement spending.

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If you think we have reached the high water mark in Ukrainian war spending, money and lives, you are sadly mistaken.

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It's not going to get anywhere near entitlement spending, which the boomers have done nothing but balloon. This thread is not to argue about Ukraine, though.

The amount of benefits afforded to the Baby Boomer generation is ludicrous. There should be no excuse for homelessness, mental health issues notwithstanding. Do you think my generation (millennials) will get to benefit the same way the Boomers did and have? I seriously doubt it.

I have sympathy for individuals in dire straits. I don't have sympathy for a generation that robbed the future over and over and over and over again.

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You just lost your argument with this one sentence. Don't think you'll be able to recognize it though, frontal lobe not closed and all.

DrEvazanPhD said:

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doubledog said:

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Logos Stick said:

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Waffledynamics said:

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Imagine being the biggest beneficiaries of generational theft in history and still having homelessness problem.

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Boomers suck in the first response. Nice!

This thread is about the lies from the left on the labor participation rate.

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This "article"(?) and opinions? was written on a PC/Laptop, invented by boomers, or viewed on cell phones, also invented by boomers.... Your welcome.

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which generation invented spell check?

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That would be 1884... First Oxford dictionary...

Quote:

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This is an extraordinary situation. Boomers have no savings and inflation is killing them which is leading to homelessness now. It's not drugs or mental illness.

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I don't give a damn what anecdotal, "woe is me" garbage is in the story. They trot this stuff out every time the economy takes a hit. I live in Austin and can tell you that the homeless on the street aren't there because of a bad economy.

Adverse Event said:

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The boomers aren't at fault for the game theory presented for success by their elders and betters. They followed the trends, listened to trusted sources in the media and politics and followed directions.

The problem is that the messaging was wrong. Not only that but the data presented, like inflation, caused false perceptions of present day and future results.

They witnessed some of the most addicting media behaviors ever invented, and have been studied relentlessly from every angle and every business school focused on "how do we continue to extract wealth from this generation," for decades.

Their loyalty to brands and personalities has unfortunately been their undoing. Those brands and personalities never had the boomers best intentions at heart, only the acquisition of as much wealth as feasible from said consumers.

I feel for this generation. Most will never meet a criteria for complete retirement, as inflation is approaching 10%+ if you don't listen to government statistics. They've been lied to their whole lives, unwittingly.

And the worst part?

Most of the boomers are going to die in some nursing home, alone, without family nearby as we've completely disassociate ourselves from caring for our elders preferring to send them to strangers instead of obligating ourselves of the burdens of death of our parents and grandparents. The experiences and heritages will disappear and not get passed along to the next generations.

I hate it.

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Boomers have failed because of their own greed and have been living beyond their means nearly their entire lives. They wanted instant success and that was "given and taken" through credit cards. Something the older generation didn't have. To your point it enabled them to be addicted to media, brands and personalities easier.

Credit cards were invented in the 1950's and in full swing by the 1970's. Boomers have been bailed out and given new chances to start over by government. Bankruptcy used to be a stain on ones record but worn as a badge of honor. The boomer generation not retiring because they couldn't afford it caused stagnate growth in the jobs market capping younger generations promotional advances.

Waffledynamics said:

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geoag58 said:

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Waffledynamics said:

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geoag58 said:

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Waffledynamics said:

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Imagine being the biggest beneficiaries of generational theft in history and still having homelessness problem.

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Should the person who incessantly defends and absolutely loves a war that was started over one grift and has morphed into another grift really be talking about generational theft?

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I don't care about your opinions on that other topic, but I want to point out the utter hilarity of someone complaining about a rounding error in our budget while ridiculing my commentary about literal trillions of entitlement spending.

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If you think we have reached the high water mark in Ukrainian war spending, money and lives, you are sadly mistaken.

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It's not going to get anywhere near entitlement spending, which the boomers have done nothing but balloon. This thread is not to argue about Ukraine, though.

The amount of benefits afforded to the Baby Boomer generation is ludicrous. There should be no excuse for homelessness, mental health issues notwithstanding. Do you think my generation (millennials) will get to benefit the same way the Boomers did and have? I seriously doubt it.

I have sympathy for individuals in dire straits. I don't have sympathy for a generation that robbed the future over and over and over and over again.

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The current problem begins and ends with the agreement Kissinger forged with the Saudis in 72-73 to require dollars for oil trades. This entrenched the dollar as the worlds reserve currency and has allowed our politicians, since that time, to spend like drunken sailors, and it continues to today with a 2 trillion deficit forecast for this year alone. The oldest boomer was twenty seven in 1972 and was more worried about being drafted so blaming boomers alone is misguided. The personality type known as politician is the real culprit and those who vote for them shoulder blame also.
The first time I emailed a politician was when Mitch McConnel stupidly said earmarks are no big deal. Apparently a lot of other people contacted him also because the next day he walked it back. These scumbags live in a dreamworld totally disconnected from reality.

The end of the petro dollar will be terrible in the short term and the people that will be hurt the most will be those on fixed incomes(boomers, so you can feel better about that) and too old to work their way back as inflation does its work.

After the sh** storm is over our overlords will no longer have the ability to print money to buy votes and finance wars as they do now. But it will be hell in the interim. And I think the U.S. citizens job is to get to the other side with our constitution and freedoms still in tact.

Quote:

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I don't think people realize how bad this is going to get. Almost no one saves any money. 50% of the population literally has $0 in savings. The ones that do save have enough (on average) to last about 1 year.

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Well, 50% of the population doesn't pay income tax, so they don't make much either.

RGLAG85 said:

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Waffledynamics said:

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Imagine being the biggest beneficiaries of generational theft in history and still having homelessness problem.

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A 5 gallon bucket couldn't fit the broad brush you're painting with. And, it's the generations that follow that keep asking for, expecting more free beanies. Yes, I know, ever boomer got rich on your back.

You're in, cough.... cough... control now, why haven't you stopped it?

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Yeah, this is getting kind of silly.

Gen Y (Millennials) are pining for socialism like no other generation. The verdict is still out on Z, they're still too young and the males are trending conservative. Gen Y trends liberal and they are voting themselves the treasury.

What's also missing in this boomer hate fest (not a boomer by the way) is that most of the foundational legislation for entitlements was passed in Congress from the 30's to the 70's. Long before any Boomer was holding office. The Boomers may have expanded programs but every generation since has as well with no end in site.

You beat me to it by a hair

Need some US History 101 up in here

Obligatory

93MarineHorn said:

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Quote:

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LOL so boomers vote themselves the most OPPULENT set of entitlements in the history of the country, forcing future generations into endless debt....refuse to revamp social security because it would mean they have to take a little responsibility and a little punch on the chin to prepare flr their own retirement......, screw up the economy over and over again by voting for endless wars and more entitlements.

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Boomers didn't vote in the New Deal or the Great Society. They protested Vietnam (the first endless war). What other entitlements are you referring to? It's amazing that some of you think this all on the boomers.

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I've made that point numerous times and all they do is plug their ears and keep blathering.

Urban Ag said:

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Obligatory

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Perfect.

I've watched several YouTube videos on this recently and you are correct. Additionally, let's just say, some, enjoy living on the street because the day is yours. Do with it what you will. You don't have to go to work, don't have to pay taxes, you can get begibussly high, have sex and then take a nap.

It Aint Easy Being Brown said:

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Wait

It's the boomers fault that gen z voted for Biden?


How exactly does that math work

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Boomers have voted Dem up until very recently and even now are barely Republican. Gen X is +14 Republican but we are only 20% of the population. Gen Z is a very small voting block. Millennials are slowly shifting from hardcore D to just lean D.

Gen X is the only Generation that has it's crap together and has for a long time. Let's see if we can choose between 2 Boomers for President again though (I know, Biden isn't technically Boomer but that's by a hair and he is certainly culturally a Boomer). Every President since '92 has been a Boomer, haven't they been great?

NA

93MarineHorn said:

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The generational smack talk on this board is just silly. Do you guys not have grandparents, parents, kids...?

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Generations vote. Those votes direct who's in office. Who's in office impacts the nation.

Now - are ALL boomers responsible for off-shoring jobs, crippling regulation, social security, fiat currency, unconstitutional federal welfare programs, ESG, the federal student loan racket, unfathomable deficit spending, etc?

No. But by fortune of their birth they rode historical circumstances alongside a peer group who enjoyed great circumstances STILL indebted subsequent generations. And the Boomer + GenX gift to Millenials + GenZ? A Godless crumbling culture.

I'm 66 so solidly in the Boomer generation. I still work but live in a 55+ community and many of those in my circle still work. Some because they want to and some because they still have to. I know several 70+ guys I play golf with that are back to work because fixed income people are being destroyed by this administration.

I don't know what the name of this current everything should be free generation but they look like they're trying to take the country down. I realize not everyone in that generation fits that description but it was in large part younger people that gave us Joe Biden.

Urban Ag said:

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Obligatory

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The GenX laissez faire cultural nonchalance primed our nation for leftist cultural subversion. It's fitting to represent them as indulging, smirking, and sitting idle.

Quote:

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Generations vote. Those votes direct who's in office. Who's in office impacts the nation.

Now - are ALL boomers responsible for off-shoring jobs, crippling regulation, social security, fiat currency, unconstitutional federal welfare programs, ESG, the federal student loan racket, unfathomable deficit spending, etc?

No. But by fortune of their birth they rode historical circumstances alongside a peer group who enjoyed great circumstances STILL indebted subsequent generations. And the Boomer + GenX gift to Millenials + GenZ? A Godless crumbling culture.

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1. People of all generations vote.

2nd paragraph: everything you listed except for ESG & massive deficit spending started well before most boomers came of voting age.

Laying blame on any generation is grossly unfair.

Quote:

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strict building codes that make new housing difficult and costly

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The cost of land, labor, materials, and utilities are what cause housing to be expensive.

Predmid said:

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Quote:

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strict building codes that make new housing difficult and costly

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The cost of land, labor, materials, and utilities are what cause housing to be expensive.

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and high interest rates.

AND that people are focusing on housing as an investment vehicle versus living, because the dollar sucks.