30-year economic betrayal dragging down Generation Y’s income

Discussion in 'Politics, Religion, Social Issues' started by stridemat, Mar 7, 2016.

  1. stridemat Moderator

    stridemat

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    #1
    Interesting read during my lunch break at work today. According to the data my age bracket (25-29) we are relatively poorer than the majority of previous generations and this seemingly is going to cause all sorts of issues in the future (pensions, healthcare etc).

    http://www.theguardian.com/world/20...ic-betrayal-dragging-down-generation-y-income
     
  2. LizKat macrumors 68040

    LizKat

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    #2
    One has to believe there's a reckoning coming down the road: so many in that cohort are still living at parents' home because can't afford decent apartment because still paying off college loans. Meanwhile the parents have already decimated their 401k or other retirement savings to pay the substantial part of those kids' prep school or college expenses that were not covered by loans. The parents will not live forever, and the house is still mortgaged to the attic...
     
  3. sim667 macrumors 65816

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    #3
    This generation are shafting the future generation..... Thats been common knowledge for quite a while.

    Not just in terms of money, but in terms of environmentally, geopolitically and democratically.
     
  4. bent christian Suspended

    bent christian

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    #4
    Babyboomers were really the worst generation.
     
  5. FieldingMellish Suspended

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    #5

    Was it the sex, drugs, and rock 'n roll?
     
  6. bent christian Suspended

    bent christian

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    #6
    Regan / Bush / Clinton / Bush / Tea Party / Trump, DOMA, wars in the Middle East, gluttonous use of natural resources. This is the legacy of the Babyboom generation.
     
  7. jkcerda Suspended

    jkcerda

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    #7
    took my daughter to USC this past Friday
    [​IMG]
    it will NOT be cheap, no idea how we are going to make it. but we are going to try.
    --- Post Merged, Mar 7, 2016 ---
    NAFTA/TPP & abuse of HB1 visas will mean our kids are going to be stuck with low end jobs or wasted education as there will be few places where they will get paid for what they know.
     
  8. LizKat macrumors 68040

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    #8
    Families are right to try to scrape the means together for education; it's the key to a decent future for a kid. Even if we can't see the details of that future yet, we know a lot of doors close when there's no diploma. The only caveat I'd tack on is to make sure the kid understands you don't just "get" an education, you have to work hard to end up well educated.

    So many families making so many sacrifices... and yet the banks see no problem making such a big buck off the interest rates on those loans. It seems unconscionable. To look at the rates you wouldn't think those loan were even secured by any repayment obligation at all, never mind by the banks' having wandered down to K street to make sure of it. They got some mighty fine legislation written and passed to put a reinforced floor under the fancy derivatives they spin off those loans.

    Too bad that the kids --and their parents-- don't have that great a floor under the transactions they make with the universities. There it's pretty much the uni's turf. The only recourse, short of withdrawing before some deadline for partial refund, is for the kid to try make the most of whatever competence the instructors may have on offer.

    Not sayin' some of the kids couldn't focus more on the actual purpose, and necessity, of being at uni to begin with, but that's a different thread.

    As far as getting paid for what you know, you're still going to improve your situations in the workplace if you have been schooled in how to think critically about the tasks at hand, even if they're as simple as deciding how to organize the paperwork on your desk(top). But the outflow of jobs that used to support our middle class remains a terrible problem.

    We are not all Rhodes scholars and the planet does not need whole countries full of them anyway. I think there's some turnaround starting to happen in the range of jobs available. When we roll up our sleeves to make something better in the USA it does usually work. We need to get better again at deciding what to fix, that's for sure!
     
  9. Renzatic Suspended

    Renzatic

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    #9
    Have you considered a lucrative career in organ harvesting?

    I steal people's hearts. Literally.
     
  10. LizKat macrumors 68040

    LizKat

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    #10
    Don't go to DC.
     
  11. jkcerda Suspended

    jkcerda

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    #11
    TOUR was like an infomercial, everything will be alright, you can change majors easy blah blah blah.
    it's scary not having the right knowledge to help, it does not help being undecided as far as major (she wants to learn graphic design/3-d modeling & animation) we are considering just taking the relevant courses for what she "thinks" she wants NOW and just get the gen ed at a local CC.
     
  12. FieldingMellish Suspended

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    #12
    Is everything better now under the Obama admistration?
     
  13. bent christian Suspended

    bent christian

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    #13
    I don't work in animation or modeling specifically, but I have worked in design and manage production and design currently in the print industry. I can tell you as a general rule, a solid portfolio is what will get her the job. Almost no one is going to care how she got where she is, as long as she can demonstrate interesting and/or innovative work. There is nothing wrong with community college for the first year or two to knock out a few Gen Ed requirements, learn the software, and test out some classes for her major interest. I can't see this being held against her, particularly if she is working in a production environment.
     
  14. impulse462 Suspended

    impulse462

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    #14
    college tours are useless. i interviewed here actually for their MD program. i have a few good friends who went to USC for undergrad as well. if you want some more info feel free to PM me
     
  15. jkcerda Suspended

    jkcerda

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    #15
    thanks for the offer, I will as I get closer and get a better idea of what she wants & where we really want to go, she's getting her AVID teachers advice , USC is not cheap by any means and we are trying to see just where we are going to land, last thing I want is for her to have 100K in debt when she is done.
     
  16. bent christian Suspended

    bent christian

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    #16
    Socially, we are in a better place as a country, but the underlying economic and foreign policy faults that have been in place for decades are not being addressed. That is why we are trying to elect Bernard Sanders.
     
  17. samiwas macrumors 65816

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    #17
    Isn't the base tuition there over $50,000 per year? Gonna have to sell a whole lot of ammo to cover that.
     
  18. jkcerda Suspended

    jkcerda

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    #18
    we heard that as well, the portfolio and her skills will make a bigger difference VS just the school name & a cheesy portfolio in this particular industry.
     
  19. aaronvan Suspended

    aaronvan

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    #19
    "...I ate his liver with some Big John Beans and a nice bottle of Boone's Farm."
     
  20. NT1440 macrumors G4

    NT1440

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    #20
    Obama, being a continuation of the corporatist rule you were quoting, is just continuing the same supply side ******** that the rest did. So no, but like every major thing screwing over the majority of Americans, one party introduces it, the next solidifies it and the cycle continues.
     
  21. 1458279 Suspended

    1458279

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    #21
    Most don't consider the economic value of what they study in college and the costs vs benefit of a degree. It's not for everyone and shouldn't be.

    Personal advice: Have you considered a JC to knock out the GE part? That's the path I took, it used to be free tuition. It saves a bit and much of it is transferable, but you probably already know about this option.

    Another issue is that AI/Robotics have removed a lot of jobs out of the market. High pay jobs are a real target for automation. Most jobs will be mixed automated/human supervised, which will mean that 1 person will get more done and the demand for those jobs will drop.

    Lots of changes going on, I wouldn't depend on the government to sort things out, they're out for themselves.
     
  22. thermodynamic Suspended

    thermodynamic

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    #22
    Never mind the big crashes of 1987, 2008, et al, hampering Boomers' retirement too...

    Decent apartment or house - especially as apartment costs are on par with housing, to an extent.

    People who have had to retrain due to the great recession haven't had it any better than the millennials either.
    --- Post Merged, Mar 7, 2016 ---

    And people who have trained their replacements. So Cal Edison College, Disney, Toys R Us, and a slew of others...

    Still, everyone wants everything for free. Until they are the ones hurt.

    College shouldn't need to be for everyone, but the market decided long ago that "a college degree is the new high school diploma".

    And the free market, trickle down economics, supply side economics, whatever the expression o' the day is, hasn't bothered to help. It's too busy lobbying the government.
     
  23. jkcerda Suspended

    jkcerda

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    #23
    pretty much what bugs me.
     
  24. 1458279 Suspended

    1458279

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    #24
    Those jobs leaving are very bad because that's one of our sources of taxes and a big reason for people to have hope.

    If they sub out all the good jobs, what will we have left?

    There's another issue that's not talked about much. It's the cost of living imposed by the government. Costs for things like tickets, DMV, etc...

    When the government did a study after the riots not long ago, they found an example where a black woman was ticketed for a crack in her windshield. The cost of the ticket was $150, she didn't have it and the fine went to $500. She lost her car.

    One could ask, how is it helping when the police take public money to "make things better for the people" and the end result is that because of economics, she now has no car and must pay the fine?

    It's clear this system of "kick the can down the road" isn't going to last much longer as economies around the world are seeing the results. Young people really don't have much of a future, they'll soon find a different path and most likely won't see that this system was great until it was abused.

    It seem like it was part of a plan to cause a system to fail, whatever happens next will mean less control by the people and more control by the government. Humanity has been down this road before.
    --- Post Merged, Mar 7, 2016 ---
    I know someone in college. He's studying business and was taking an algebra class. I looked at the overpriced book and it was the same stuff I learned as a freshman in HS. Aside from the fact that algebra isn't really a businesses class, it wasn't when I got my business degree, the fact that I learned that in the 1st year of HS it pretty telling about where we are.

    Not to mention, I don't see the same concern about learning from young people. We've really dumbed down America. There'll be a price to pay for this.
     
  25. LizKat macrumors 68040

    LizKat

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    #25
    Industry is trying to improve robotics so that humanoids can be deployed to assist in care of the elderly because a shortage of human caregivers is anticipated. Here's a recent Reuters photo of one developed in Singapore at Nanyang Technological University (NTU).

    I mean she's not the woman of your dreams if you're a 25-year-old, but if you're an old geezer then probably rather have this thing dishing out pills than some scary-looking thing that looks like the Tin Woodsman.

    As far as education goes, better to learn enough engineering to help improve humanoids than to be the guy in the corner grumping about how all the humanoids think they're so smart because they have all the great jobs. Most jobs assigned to robots end up thus because they're terminally boring.
     

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