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Old 03-26-2015, 10:12 AM   #21
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Pffttt. Blowing up the stock market is just a sideshow. If you want to know what we've really been up to, Google "it's all the baby boomers fault"...

Edit - Hasn't this market theory been hashed, rehashed, and beaten to death over the past couple of decades?
+1

I have had several conversations with Gen X and Y ers that basically have the boomers as the reason they don't have great jobs with big pensions and were forced to take out student debt. Part of the thesis is why couldn't we be more like "the greatest generation."

My answer is that I:
  • had student debt,
  • will get a trivial pension unlike "the greatest generation" who are far more likely to get a richer pension than any boomer,
  • most of my career was working for one of "the greatest generation" who blocked my promotion with their presence like I block theirs,
  • will not get all of the value for my SS taxes unlike "the greatest generation" that receive several times the value of their contribution,
  • "The greatest generation" is a title bestowed upon them by one of their own.
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Old 03-26-2015, 10:20 AM   #22
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With what? All the tip money they're making at Starbucks?
+1

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Old 03-26-2015, 07:46 PM   #23
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With what? All the tip money they're making at Starbucks?
Sorry, I forgot that many S-O-Bs are not employed like my DS and making 6 figures annually.
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Old 03-26-2015, 09:13 PM   #24
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With what? All the tip money they're making at Starbucks?
And after they move out of their parents basement.

And buy a house.

After student loan debt is paid off in 15 years.

Actually its not funny.
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Old 03-26-2015, 09:21 PM   #25
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why blame the boomers (although it may be fun to do)? Blame the FED! rate have been cut so low that there was little else to move to in order to find returns.

There use to be articles noting that stocks would crash when boomer pulled money out of stocks to put into fixed income and spend in retirement. There are many reasons given for what is happening... actual cause??
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Old 03-26-2015, 10:29 PM   #26
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why blame the boomers (although it may be fun to do)? Blame the FED!
Good point. In fact, why blame anybody? That's life. "Stuff" happens and yet we just keep on doing the best we can. What other choice to we have? Drive ourselves to an early grave with all this bitterness and blaming? Not something I care to do.
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Old 03-26-2015, 11:12 PM   #27
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Blaming the old folks is the easiest way to feel better about life being hard. They are unlikely to hit you with their canes, and you can blow off their stories of how hard life was for them, because it was before You Were Born and thus irrelevant
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Old 03-27-2015, 05:54 AM   #28
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And after they move out of their parents basement.

And buy a house.

After student loan debt is paid off in 15 years.

Actually its not funny.
Seems to me when us boomers were in our 20's there were those who were living on tip money, living in their parent's basements etc.

Then there were those out building careers.

I had a buddy in high school who said to me: "For every hippie living off the land, that's one less person in front of me in line for a good job" (He's now VP of a major, major software co...you've heard of him)

My experience with the current generation is the same. Some of our nieces/nephews are living on tip money (and hand-outs from DW), some have six figure jobs (at 24 yo!); split about evenly.

It might be a different but I'm not sure its any harder/easier.
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Old 03-27-2015, 06:35 AM   #29
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I blame everybody for everything. In advance.
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Old 03-27-2015, 06:36 AM   #30
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I understand that the majority of the members on this forum are Boomers, and thus are unlikely to support the notion that their generation has been anything less than heroic, virtuous saviours of our society. But the fact is that the children of Boomers are the first generation ever to be less well off than the generation that preceded it.


Boomers benefitted from the war economy, defined benefit pensions, cheap housing, and cheap education. Yes, yes, I'm aware that for a month or two in the 80's, mortgages were 18% or whatever, and you had to wait in line to fill up your car's gas tank. But you also had the most prolonged and bullish run up in equity markets since the stock market's inception.


I'm a Gen-X'er. Back in '99 when I graduated university, I was lucky to get my toes into the high-tech market just before the bubble burst. I thought I was getting screwed by housing and education prices that were multiples higher than those my parents faced leaving college, but it turns out they've continued outpacing inflation in the intervening 16 years, and now I really pity Millennials and whatever we're calling the generations after them.


Decades of neglect have left our society's infrastructures crumbling, and the mountain of debt run up by Boomers have left us with few options for fixing them. Boomers are quick to say, "We BUILT this country!" Yes, you did - but it would have been nice if you'd PAID for it, too, instead of passing the bill on to your children.


You had unions, job security, and defined benefit pensions. Those are all relics. Do you really think a kid graduating college this spring will have any of those? You could run a household on a single income while still saving up a retirement nest egg (not that you needed it, with the aforementioned pension). Now it takes 2 incomes, which are hamstrung by the concordant requirement for daycare, and the crippling one-two-punch of enormous student loan debt and outsized housing cost leave nothing left for saving. And on top of that, we're supposed to take time off work to care for aging parents, too? There's a reason we're called the "sandwich" generation.


These concerns are actually some of the major reasons my wife and I decided not to have kids. Kids I would have deserve better than the world we've created for them.
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Old 03-27-2015, 06:43 AM   #31
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Sigh.
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Old 03-27-2015, 06:48 AM   #32
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Old 03-27-2015, 06:51 AM   #33
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I thought the baby boomers were the sandwich generation. So hard to keep up with who is who these days.
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Old 03-27-2015, 06:52 AM   #34
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What wine goes best with a whine?
+1

Sometimes suicide is the only answer.

I could revise my earlier post but what's the point? We've all made his life miserable after having no challenges of our own to achieve financial success. I hope kombat isn't an airline pilot.
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Old 03-27-2015, 06:52 AM   #35
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Confirms just about all my fears and perspectives.
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Old 03-27-2015, 11:52 AM   #36
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