posted on Apr, 13 2011 @ 07:13 PM
reply to post by angeldoll
That is part of the problem right there. Some time in the 70's to very early 80's businesses decided that they needed people with college degrees to
fill the most mundane of supervisory and middle management roles. Now that was a remotely good idea for a short time as it placed larger paychecks in
younger hands which would spend them on the most ridiculous of items...like time share condos. Because paying full price for something you can only
use a few weeks out of the year, has to be shared with who knows how many other couples just screams intelligent purchase. Let alone the division of
it should the marriage end up in divorce, which had a high percentage chance.
Now I said this was a somewhat good idea, here is the downside. The older workers never advanced into those jobs over time. They stayed right where
they were which left less openings for high school graduates to enter the work force. Add in the outsourcing and switching from a manufacturing
economy to a service economy in the 90's as well as housing loans to anyone with a pulse with deferred balloon payments and eventually something had
Back in 1989 as a senior paper, I wrote what conditions would need to be met in order to have another large scale war that instituted a draft. My
number one condition was large unemployment of youth with no end in sight. Yes, my paper spelled out a draft to be used for population control. But
there was more to it, like our current deficit coupled with longer lifespan by medical breakthroughs.
As for Social Security, there is a huge problem. My future retirement payments are not comparable to even widow's benefits paid today to worker that
made far less pay than what I do today. In fact, I would be hard pressed to make it today on what those payments will be. Add another 27-30 years
inflation without adjusting those payments and guess what? Retirement will mean death by poverty and old age. That is assuming of course that I stay
in good health over the years. I guess they can prop me up at the front door of Wal-Mart and stuff food stamps in my pocket until I eventually drop
And yes, being born in 1970 makes me a Generation X member. Generation Y is already started graduating High School and began to enter the workforce.
Their children (and some are starting already) have no hope for a job unless there is a radical change in the way things are done. Of course my Social
Security statement is slightly different than my father's. My paragraph two mentions don't count on this to be here when you retire at 67 with full
benefits. But if it is, this is what it will be.
So the question is, where does my deduction go? I pay for the grandparents of my generation as well as my parents. Who will pay for mine when the time
comes? The children of Generation Y. The same ones that have no hope of finding work that I mentioned above until I retire. Of course they will have
children of their own long before then. In other words, the house of cards, the robbing Peter to pay Paul will end on the shoulders of Generation X.
The ones with no chair when the music stops. Not that we have much of a chair today. As far as savings go...I was laid off right after the
inauguration, took a low paying job to have a job that has ended as state and local budgets have dried up from losing tax revenues of all the people
that were laid off.
My investments for retirement include guns and ammo. The question is will retirement come significantly earlier than expected as to when they will be
put to use?