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  Topic: In Hard Economy for All Ages,
Older Isn’t Better ... It’s Brutal
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In Hard Economy for All Ages,
Older Isn’t Better ... It’s Brutal

New York Times, by Catherine Rampell

Original Article

Posted By:NorthernDog, 2/2/2013 5:46:01 PM

Young graduates are in debt, out of work and on their parents’ couches. People in their 30s and 40s can’t afford to buy homes or have children. Retirees are earning near-zero interest on their savings. In the current listless economy, every generation has a claim to having been most injured. But the Labor Department’s latest jobs snapshot and other recent data reports present a strong case for crowning baby boomers as the greatest victims of the recession and its grim aftermath. These Americans in their 50s and early 60s — those near retirement age who do not yet

Comments:
America has been transformed. Doncha like it?

      


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Reply 1 - Posted by: LudicrousSextus, 2/2/2013 5:59:08 PM     (No. 9154842)

I was particularly amused by the sentence from the NY Times article - "Their retirement savings and home values fell sharply at the worst possible time: just before they needed to cash out."

Guess it beats saying, "Their retirement AND home values were wiped out by a liberal president who demanded banks loan money to people who clearly couldn´t pay it back - thus driving home prices artificially thru the roof and taking most of the rest of the economy down with ´em when government policy failed utterly. Again."

Whew. That calls for a drink. Mebbe an Ethanol and tonic?

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Reply 2 - Posted by: PoliticalJunky, 2/2/2013 6:02:01 PM     (No. 9154849)

They wanted to be in charge because everything we did was wrong and had to be changed.

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Reply 3 - Posted by: Bpl40, 2/2/2013 6:17:49 PM     (No. 9154874)

And yet..and yet more than 50% of these sheeple twice in four years will go out and freely vote the exact reason for their misery into power. One can understand the functionally illiterate LoFos - He give free phones, he gonna do more! But these are educated people. Scary!!

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Reply 4 - Posted by: Grant Hodges, 2/2/2013 6:22:43 PM     (No. 9154887)

Yeah,..between the low info college degrees of the past 40 years, and television, there isn´t much left of "intellectual" America. Don´t get me wrong...there are plenty of people who think they are intellectual. I don´t count myself as intelligentsia, but I get the impression from a lot of people they think they are brilliant, and they walked right out there and voted for Obama.

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Reply 5 - Posted by: neanderthal, 2/2/2013 6:24:26 PM     (No. 9154889)

they voted for him. Let them live with him. Me? I´ve got chickens, rabbits and a garden. Screw them.

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Reply 6 - Posted by: dolphin, 2/2/2013 6:26:50 PM     (No. 9154892)

The "educated" lofos are proudly innumerate, devoid of intellectual curiosity and still trying to get revenge against their parents for something that happened 40 or 50 years ago. All you need to do is say it´s the Republicans´ fault and they will look no further.

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Reply 7 - Posted by: PoliticalJunky, 2/2/2013 6:33:06 PM     (No. 9154902)

Nothing happened to them 40 or 50 years ago. We wanted to give them a better life than we had and we couldn´t bear for themt not be hhappy every minute so we spoiled them rotten.

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Reply 8 - Posted by: HerbVA, 2/2/2013 7:18:18 PM     (No. 9154952)

And they can´t wait to vote for Hillary in 2016.

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Reply 9 - Posted by: whyyeseyec, 2/2/2013 7:47:02 PM     (No. 9154973)

This is the result of Obama`s sick experiment.

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Reply 10 - Posted by: grampstosix, 2/2/2013 7:59:05 PM     (No. 9154985)

No mention that the boomers have for years lived beyond their means.

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Reply 11 - Posted by: Pearson365, 2/2/2013 8:11:33 PM     (No. 9154997)

Still recall he 2008 experience of driving past what were then $3 to $4 million mega-mansions in the upscale towns of Westport and Weston, CT. The more pretentious the home, the more likely there was an Obama sign calling for Hope & Change. My wife & I were confused as to what the owners of these enormous houses wanted to change. They didn´t send their children into the military. They really didn´t want "them" living nearby, and with their 2 to 4 acre lots, couldn´t see them anyway. They all vacationed in the best places, drove European cars and seemingly enjoyed the life most aspired to achieve.

Yet, these wealthy suburbanites wanted an obscure, inexperienced, 1/2 term senator to fundamentally transform the country. Why? And, why are they so willing to support the more womanly version of Obama with Hillary?

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Reply 12 - Posted by: Blackeagle, 2/2/2013 10:11:15 PM     (No. 9155081)

The real estate meltdown - the source of the Great Recession was pre-Obama. It was, to use a snarky over-used phrase, Bush´s fault. He let in the 10 million of so illegals, that helped drive up demand for housing. In 2002, he pushed banks, FNMA, etc to lend to minorities at zero down. Yes, the Dems loved this stuff, and under Clinton and Reuben, the financial sector was relieved of all those fuddy-duddy Depression-era reforms (Glass–Steagall Act, etc.), that allowed banks to behave so badly - but it was (examine the timing) Bush´s Compassionate Conservatism (aka as Country-Club Conservatism) that did us in.

What Obama has mainly done wrong since is (1) regulate our economy into a permanent slump. (2) reward dependency by encouraging the expansion of government entitlements.

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Reply 13 - Posted by: Philipsonh, 2/2/2013 10:22:55 PM     (No. 9155092)

Folks here are wise but have not looked back far enough. This economic mess started with the Community Reinvestment Act in the 1990´s
wherein Government mandated ( submit or be penalized ) mortgage lenders to "give" homes to people that were bad risks for repayment in hopes they would become part of the American Dream. It snowballed from there with the Government, Congress, Rating Agencies, Quasi-Government Agencies, lenders, and foolish buyers all taking a part in the debacle. All had a hand in creating the problem but the Government was the initial and primary culprit. Its all laid on in historical sequence in various internet articles.

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Reply 14 - Posted by: smcchk, 2/2/2013 10:25:43 PM     (No. 9155096)

My confusion exactly, #12. During the Bush years, things were going quite well but everyone was miserable because the MSM got them to believe "Good is Bad." And then the MSM got everyone to believe "Bad is Good," twice, no less!

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Reply 15 - Posted by: Penney, 2/2/2013 10:49:04 PM     (No. 9155120)

..And Dodd & Frank are guaranteed Federal incomes for life. ...There ´otta´ be a law against lifetime pensions provided by taxpayers for dishonorable, (-and worse!), former Boomtown, ´lawmakers,´ who should be accountable for policies in violation of their oaths of office to, ´protect and defend the U.S.A.´

Dodd/Frank´s mortgage fiasco and Rep. Al Swift´s, ´Motor Voter,´ legislation, together are hurting America the Beautiful immeasurably abd increasingly. Pres. Reagan reminded us that freedom can be lost in just one generation. Will the USA be recognizable in 20 years with such increasing statist legislation regarding EVERYTHING conceivable in American life?!

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Reply 16 - Posted by: ColonialAmerican1623, 2/2/2013 11:01:51 PM     (No. 9155131)

The article does not say anything about those part time jobs that older Americans are working now will be going to immigrants or that their chances of getting a job is less if they are not bilingual.

You must put those Tootsie Rolls in the bowl for Zippy to hand them out to everyone.
Somebody must pay taxes.

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