Uh oh. Tucker blames Boomers for economic woes

7,198 Views | 81 Replies | Last: 8 mo ago by FlyRod
Fitch
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Agree it's too broad and deep of a subject matter to distill to a few talking points. Really does require an understanding of what was going on before, during, and after each generation's main working years. I found the Fourth Turning book very helpful as a primer in that regard.

W/r/t asset transfers, you're most likely right that eventually these things roll forward (assuming that the bottom doesn't fall out in asset values, again) but as a member of that younger generational cohort I have to sort of argue the point that, yes, it's nice to have a million-plus dollar house passed to me in my sixties or seventies when my parents pass, but a hundred grand cash in my 30's would be far more impactful to how I conduct my career choices and child rearing.

The point was made a few years ago that so many in the younger generations are attracted to socialist or leftist economic policies because they've been priced out of having any skin in the capitalistic economy. Generalizing, of course.
MemphisAg1
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Fitch said:

Agree it's too broad and deep of a subject matter to distill to a few talking points. Really does require an understanding of what was going on before, during, and after each generation's main working years. I found the Fourth Turning book very helpful as a primer in that regard.

W/r/t asset transfers, you're most likely right that eventually these things roll forward (assuming that the bottom doesn't fall out in asset values, again) but as a member of that younger generational cohort I have to sort of argue the point that, yes, it's nice to have a million-plus dollar house passed to me in my sixties or seventies when my parents pass, but a hundred grand cash in my 30's would be far more impactful to how I conduct my career choices and child rearing.

The point was made a few years ago that so many in the younger generations are attracted to socialist or leftist economic policies because they've been priced out of having any skin in the capitalistic economy. Generalizing, of course.

There's so many exceptions to the generalizations that they just seem silly. Much of it comes down to life choices.

I was 34 before I had disposable income, meaning a little money left over each month after paying bills. Spent the next 10 years using that to pay off all the debt incurred prior. Then the career and income took off, and we are well positioned in our early 60's, but it's been a journey.

I've got three kids in their early to mid 30's. They're all doing fine, but they're trending toward different economic trajectories based on independent choices they made on their career path. The youngest one is killing it, doing far, far better than I was at his age. Another one is ahead of where I was at his age, and the other just finished dental school. He will spend 10 years eating PBJ sandwiches to work down his debt, and then he'll be in great position for the final 20 years of his career to earn financial freedom and comfort.

Two of the three are doing better than their old boomer/Gen X dad, and the other will likely surpass as well. Just takes time and a willingness to delay some gratification. None of them think anybody owes them anything and they aren't blaming other generations for the abundant struggles they have faced and overcome.



OPAG
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Dirty Bird said:

As a Boomer, I agree the boomer political ruling class and bureaucrats screwed us all over big time. Self serving bastages. I think of the hippies in the 60's when I was just a kid working on my grandparents farm every summer. Those f'd up loons talked much about utopia. Those who rose to political influence sure did create their own utopia. You'll find most of them in the demwit party. They enriched themselves while promising much to the lower economic class. They've sucked much from the middle class to obtain their objectives.

Not all boomers were in on this chit. In fact, some of you younger generation members helped keep their shenanigans going. Some of you made fun of the "Tea Party" who was trying to preserve our treasure for you dummies. And now MAGA who is trying to turn this big ship around.

I've worked all my life since age 6 on the farm and in the hot, dusty cotton fields in the RGV. I'm still working. I'll be working til I die. I can only hope that this country gets behind Trump and those that follow in his footsteps. This has been the best opportunity, in my lifetime, to get back to sanity and common sense. You may not like some of the things he is doing but I believe it's mainly because you don't understand it. We are going back into territory we have not seen in 50+ years. Please get behind him and give support. The outcome won't be utopian, but will open doors to the American dream. Be vigilant. Evil, self-serving marxists are aplenty. Take them the f out.

This I am boomer (end of it as well and I would include Islamist and Nazi's in the same group as Marxist. they have the same master/leader, The devil/Satan.

I live for one reason right now. to fight and stand for my kids and especially GKs. Otherwise, it's better to go home. To live is Christ to die is gain
Rattler12
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People like to blame somebody else for their real or perceived problems but the truth of the matter is that about 98 % 0f our successes or failures in life can be attributed to the person staring back at us from the mirror.

My father, class of 42, always said there was an 11th commandment that broke off when Moses tripped and fell.......

Blessed is he who expects nothing for he shall never be disappointed.
Fat Black Swan
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There have been a number of polls on passing down inheritance that have Boomers being the generation least willing to pass down wealth. This could just be a factor of Boomers being the only generation currently in the position to pass down wealth.



There's also the debate on how involved Boomers are as grandparents. Younger generations can remember spending time and grandparents helping raise them. This could just reflect larger societal factors such as waiting to have children and living further away from grandparents.



Not saying I agree with either or that they apply to all Boomers but there certainly appears to be generational differences for one reason or another.
Seven Costanza
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Every generation is just a product of the environment that they were brought up in and the world that they had/have to manage.
Carnwellag2
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TAMU1990 said:

Helicopter Ben said:

TRD-Ferguson said:

This is how you divide a nation. Create divides within the populace based on anything and everything. Just create the divide. Destroy unity.

Pretty soon too many people see the "enemy" as their neighbor, their coworkers, their classmates rather than the real enemy who is stoking the divisions. Mission accomplished.

It's sad to see so many of you fall into the trap.



This. The correct answer is that ALL prior generations are responsible. Everyone wants the govt to do their bidding and nobody wants to take a haircut. My dad (boomer) said it when he laughs that I'm screwed and will never get SS…but when asked if he would end it he says, no he's paid into it his whole life. So he admits it's screwing over his children and his grandchildren but in his mind he's owed by people who weren't even alive when those decisions were made. Somebody is going to have to pay for the decades of can-kicking. Whenever we catch up to the can, whichever generation is in control at the time just gives it another kick.

At some point this game will end by economic reality. What scares me most is that this scenario could be the perfect opportunity for radical left wing ideas. I read that something like 65% of ages 18-29 have a favorable or better view of socialism. An economic crisis with the new demographic changes and their ideological proclivities all but assures that we'll give socialism a try. I sure hope I'm wrong…

Charlie Kirk mentions this in the podcast with Tucker. It's a difficult economic situation for 18-35 year olds. People in their 20's coming out of college with student loans and no job prospects, inflated prices, first time home buyers average out to be 39 years old, people are using BNPL for everyday purchases, etc. I have three 20 something children and they all talk about how hard it is to buy a house, afford basic necessities (car, insurance, etc), get a "real" job, or are concerned their major they picked with be replaced with AI. My oldest lived at home for 4 years after graduation to save money and he just bought a house. This is something I didn't have to do or think about (stay at home after graduation out of economic necessity, etc).

All it would take is a charasitmatic Socialist to capture this angst to become elected by people under 40 (and eventually under 50) and subscribe to "we need a wealth tax, 90% income tax rate, and asset forfeiture from the rich" - which we all know rich can mean you make more than $150K. Don't think the socialists wouldn't seize your retirement either. We need to address the economic issues Millennials and Gen Z are facing. If you have children I'm sure you have thought about it. It's also about the current children in school. It's time to say college may not be what is best for you. It's no longer a class dividing line like it was pre 2000. Time to put trade centers in high schools, etc.

If you have time to listen to the entire podcast it's a good conversation.

It is a very good lesson and Charlie Kirk is on college campuses more than most podcasters. Every generation complains about how hard it is or was. No doubt these are the thoughts of the young adults Charlie is running into.

There are additional layers to this.

(1) the new generation for the most part was given whatever they wanted growing up. Went on fancy vacations. Bought craft beer in college. that is very different from their parents and grandparents who went on 1 family vacation a year probably to the local lake or beach; wasn't given whatever they wanted and probably had to either get a job for things or wait until christmas and during college ate a lot of ramen noodles/ all you cn eat buffets/ and drank very cheap beer.


The new generation was brought up with a social media which facilitates a constant comparison. Going to the most exotic vacations (expensive) is important for the pictures to post. How many in this generation do you know who want to start in the C-suite at companies as opposed to the bottom rung of the ladder. And their parents and grandparents didn't live in homes that had the top of the line appliances and amenities - they lived in crummy apartments with multiple roommates while they climbed the corporate ladder and saved.. That isn't what the current generation is interested in.


How much would people save if they gave up the super computer that is in their pocket - $2K/ year.



Squadron7
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Sure, because there are no lefty boomers, or Marxist hippie boomers, or fiscal hawk boomers. Just boomers.

Lazy AF.
ABATTBQ11
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Yeah, I'm sure all those younger generations will think the exact same way after them actually have to work for retirement savings and are faced with having a fixed income for an indefinite period.
Fat Black Swan
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ABATTBQ11 said:

Yeah, I'm sure all those younger generations will think the exact same way after them actually have to work for retirement savings and are faced with having a fixed income for an indefinite period.


Agree that's a good explanation for the poll results.
TAMU1990
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Carnwellag2 said:

TAMU1990 said:

Helicopter Ben said:

TRD-Ferguson said:

This is how you divide a nation. Create divides within the populace based on anything and everything. Just create the divide. Destroy unity.

Pretty soon too many people see the "enemy" as their neighbor, their coworkers, their classmates rather than the real enemy who is stoking the divisions. Mission accomplished.

It's sad to see so many of you fall into the trap.



This. The correct answer is that ALL prior generations are responsible. Everyone wants the govt to do their bidding and nobody wants to take a haircut. My dad (boomer) said it when he laughs that I'm screwed and will never get SS…but when asked if he would end it he says, no he's paid into it his whole life. So he admits it's screwing over his children and his grandchildren but in his mind he's owed by people who weren't even alive when those decisions were made. Somebody is going to have to pay for the decades of can-kicking. Whenever we catch up to the can, whichever generation is in control at the time just gives it another kick.

At some point this game will end by economic reality. What scares me most is that this scenario could be the perfect opportunity for radical left wing ideas. I read that something like 65% of ages 18-29 have a favorable or better view of socialism. An economic crisis with the new demographic changes and their ideological proclivities all but assures that we'll give socialism a try. I sure hope I'm wrong…

Charlie Kirk mentions this in the podcast with Tucker. It's a difficult economic situation for 18-35 year olds. People in their 20's coming out of college with student loans and no job prospects, inflated prices, first time home buyers average out to be 39 years old, people are using BNPL for everyday purchases, etc. I have three 20 something children and they all talk about how hard it is to buy a house, afford basic necessities (car, insurance, etc), get a "real" job, or are concerned their major they picked with be replaced with AI. My oldest lived at home for 4 years after graduation to save money and he just bought a house. This is something I didn't have to do or think about (stay at home after graduation out of economic necessity, etc).

All it would take is a charasitmatic Socialist to capture this angst to become elected by people under 40 (and eventually under 50) and subscribe to "we need a wealth tax, 90% income tax rate, and asset forfeiture from the rich" - which we all know rich can mean you make more than $150K. Don't think the socialists wouldn't seize your retirement either. We need to address the economic issues Millennials and Gen Z are facing. If you have children I'm sure you have thought about it. It's also about the current children in school. It's time to say college may not be what is best for you. It's no longer a class dividing line like it was pre 2000. Time to put trade centers in high schools, etc.

If you have time to listen to the entire podcast it's a good conversation.

It is a very good lesson and Charlie Kirk is on college campuses more than most podcasters. Every generation complains about how hard it is or was. No doubt these are the thoughts of the young adults Charlie is running into.

There are additional layers to this.

(1) the new generation for the most part was given whatever they wanted growing up. Went on fancy vacations. Bought craft beer in college. that is very different from their parents and grandparents who went on 1 family vacation a year probably to the local lake or beach; wasn't given whatever they wanted and probably had to either get a job for things or wait until christmas and during college ate a lot of ramen noodles/ all you cn eat buffets/ and drank very cheap beer.


The new generation was brought up with a social media which facilitates a constant comparison. Going to the most exotic vacations (expensive) is important for the pictures to post. How many in this generation do you know who want to start in the C-suite at companies as opposed to the bottom rung of the ladder. And their parents and grandparents didn't live in homes that had the top of the line appliances and amenities - they lived in crummy apartments with multiple roommates while they climbed the corporate ladder and saved.. That isn't what the current generation is interested in.


How much would people save if they gave up the super computer that is in their pocket - $2K/ year.






Some are for sure. But some of them are not. There are kids living at home, saving money, paying their own car notes off, etc before they buy a house. I've always told my kids your work ethic is going to stand out among your peers.
FlyRod
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Conservatives used to be about personal responsibility, individual imitative, and making good choices. Sounds like Tucker has abandoned that to whine and cast blame for the consequences of failing to exercise personal responsibility, individual initiative, and making good choices. Sad.
 
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