grasshopper
Thinks s/he gets paid by the post
- Joined
- Oct 9, 2010
- Messages
- 2,472
I already have my Malibu house picked out, for after the revolution.
Decrease Federal spending.
Decrease the size of the Federal gov't.
What more do you need?
Decrease Federal spending.
Decrease the size of the Federal gov't.
What more do you need?
You guys forgot the loudest refrain, "Don't touch my Medicare, and don't touch my Social Security." Gotta fit those in too.
These are just the boomers' damn spoiled kids whining just like their parents. They will be ignored if they remain peaceful and get their heads cracked by the NYPD if they get rough.
What is the "other side"of the Tea Party? Folks who want bigger government? And what, government has been shrinking lately? I don't think these guys are the opposite of the Tea Party--something else entirely.
Here are some factors which impact ER that, IMO, are behind the Occupy Wall Street protests.
1. Wage disparity:
"The heads of the nation’s top companies got the biggest raises in recent memory last year after taking a hiatus during the recession.
At a time most employees can barely remember their last substantial raise, median CEO pay jumped 27% in 2010..."
CEO pay soars while workers' pay stalls
2. Most private sector pension plans are a thing of the past and 401k plan matching contributions are shrinking:
"Consulting firm Watson Wyatt Worldwide recently surveyed human-resources executives at 245 large companies and found that 12% had already cut their defined-contribution-plan matching contributions, up from just 3% in a similar survey two months ago. Another 12% expect to make the change in the next 12 months, up from 7% in December."
The Incredible Shrinking 401(k) Employer Match - The Wallet - WSJ
3. The expense ratios in many 401k plans are prohibitively high:
"Indeed, the average 401(k) participant in a big plan forks over 1.07% of the account balance each year, while small plan participants pay 1.4%, on average. With the most expensive plans running as high as 3%..."
BW Online | June 7, 2004 | Does Your 401(k) Cost Too Much?
Retirement is becoming a thing of the past for a large percent of the US population. I think these factors are some of the reasons behind the current protests.
That later point worries me. While Congress is fiddling and fighting the economy deteriorates. If we let it get bad enough, the response could get really bad. I would prefer not to live in a gated community.So a large portion of this generation have no real job prospects, massive debt, no healthcare, and no real expectations that any of that is going to change. I'd whine a little too...
We're quickly reaching a point where a large portion of the population feels they have nothing to lose if the system burns. So far things have remained relatively peaceful. If our path doesn't change, I don't think that will remain true.
The NYPD appears to be cracking heads regardless of whether or not they get rough.
A couple things--
I think a large portion of the people on this board came of age in an economic golden age, and have no idea how difficult it is going to be for this next generation to secure any kind of economic security.
These kids aren't interested in retirement, they are interested in having something to retire from. If you are under 30, its increasingly rare to have a path to a job that pays more than $10/hr and includes healthcare.
The cost of college has skyrocketed to an insane level compared to 20-30 years ago. Twenty years ago you could pay for college with student/summer jobs if you were cheap and hardworking.
That's pretty much impossible now. They've been encouraged to take on 10s of thousands in debt for college degrees that don't really open up the job market like they used to. That debt is now about the only thing that can't be discharged in bankruptcy.
So a large portion of this generation have no real job prospects, massive debt, no healthcare, and no real expectations that any of that is going to change. I'd whine a little too.
Globalization is great for people who make a good income. It's also great for the rising mass of Indians and Chinese that are leaving abject poverty behind. It sucks for this generation of Americans though.
We're quickly reaching a point where a large portion of the population feels they have nothing to lose if the system burns. So far things have remained relatively peaceful. If our path doesn't change, I don't think that will remain true.
As a Gen Xer, I haven't seen any golden age in my adult lifetime. Yet most of the people my age have sucked it up and dealt with it. the echo boomers need to pull up their pants and get over themselves.
As a Gen Xer, I haven't seen any golden age in my adult lifetime. Yet most of the people my age have sucked it up and dealt with it. the echo boomers need to pull up their pants and get over themselves.
Lucky to ever make more than $10 an hour?Entry level wages have not moved up very much since 1990. A job that paid $6/hr then might pay $8/hr now. That makes paying for college without debt or your parents' money pretty much impossible. It's starting to reach the point where people need to start questioning whether college is a good investment at current rates. Of course, if you don't make that investment, you will probably be lucky to ever make more than $10/hr.
.
My advice to those loitering on Wall St. would be to go take a shower, fix their hair, get some decent clothes, and walk in to some of those banks and businesses and see if they need some help. Work their way up and make something of themselves instead of saying "oh woe is me, the world is not fair". Nobody is going to pay you anything for being a baby whiner.
There's no doubt that the US faces more competition today than it did immediately after WWII. The lush environment has changed--it's not likely a person with a HS diploma can be the sole breadwinner fr a family and achieve a middle class lifestyle. We did that for awhile, it was an oddity and we probably won't see it again. The deals--in both private and public employment--are now less generous. Okay, that's the way it is. These protesters are like spoiled children throwing a temper tantrum at the ocean for knocking down their sandcastle.The deal facing this next generation is much worse than ours or the boomers.
That's pretty radical,, but I'll give it a +1 anyway..My advice to those loitering on Wall St. would be to go take a shower, fix their hair, get some decent clothes, and walk in to some of those banks and businesses and see if they need some help. Work their way up and make something of themselves instead of saying "oh woe is me, the world is not fair". Nobody is going to pay you anything for being a baby whiner.
.
No matter what any of us think, it is hard to discount our collective "elephant in the living room." I have family members who are struggling due to bad decisions, illness, etc. I have friends - nice people - who have lost their homes. It matters to me not who is at fault, but what is my response. Right now, I can certainly lend an ear.
I don't know what I would do starting out now. Probably what I did in the late 80s early 90s: work 3 jobs. But my skill set in IT and there are still jobs out there.
Lucky to ever make more than $10 an hour?
I'd call that a bit extreme..
If a person in this country can't pull themselves above $10 an hour over the course of a few years something is really unique about that person.
But, I'm open to examples.
There's no doubt the size of the pot we're all eating from is shrinking while there are more and more of us wishing to share. That's making the distribution of wealth a very sensitive subject likely to get more and more attention as we go forward.
It's starting to reach the point where people need to start questioning whether college is a good investment at current rates. Of course, if you don't make that investment, you will probably be lucky to ever make more than $10/hr.
I suspect you are right. I don't know what BK managers can expect, but I suppose his $32K is about it....
One of them went to college, got a degree in marketing, and now is the general manager of a Burger King. ... but I suspect that unless something dramatic changes, he'll never make anything close to what I make.
My other brother never finished college. He's been very lucky to get his job at Quik Trip that pays $9/hr (after several years) and actual benefits. I don't see a lot of upside for him. Granted, he's not the most ambitious guy in the world, but he's dependable and does what he his told.
... Perhaps they'll be able to watch the situation in Greece and see how that goes. I'm guessing that no amount of protesting over there is going to allow them to maintain their current standard of living without working harder.