Jay_Gatsby
Thinks s/he gets paid by the post
- Joined
- Oct 7, 2004
- Messages
- 1,719
Bloomers had good opportunities growing up. Dirt cheap college tuition, low housing prices and booming domestic economy in the 80s and 90s. Yes there is rampant age discrimination but I'm not so sure that it's any different than in the early 80s when I got hired in. And this talk about ones 401K getting hit by the stock market crash is simply an excuse to hide the fact that one failed to fund their 401k and/or kept taking out loans. The simple truth is that the average 401K was small even before the crash and most folks didn't have all their money in stocks. That said I do have sympathy for those laid off and unable to find another job. There are not too many good options if you're in that situation.
The situation is what it is. There have always been booms and busts, and every generation has enjoyed one or more of each at some point in their lives. My grandfather enjoyed the Roaring 20s as a kid, then the Great Depression, then the Post-WWII Boom, etc... Society will have to make some adjustments to care for its soon-to-be elderly, as it always has throughout history. The young support the old, no matter how spendthrifty the latter may have been at various points in their lives.
Generational warfare won't solve the problem. Trying to punish an entire generation for allegedly being fiscally irresponsible also won't solve the problem (as if this were even possible). Both "sides" must work together to find a solution; shared sacrifice and shared gain. Some of the the older generation will need to relinquish dreams of a gold-plated retirement (e.g., cruises, golf course condo, etc...), while some of the younger generation will have to relinquish dreams of a gold-plated working life (e.g., BMW and a McMansion). Balance is the key to happiness.