dancedancekj saidSmaller younger working population + older retiring population = Social security, Medicare, socioeconomic and political problems ahead. This is a massive crash that is just waiting to come falling down around our ears.
Screw the young now, pay for it in the future in terms of having a sullen, alienated bloc of people who give a vote of "No Confidence" to the society that has wasted their talents and marginalized them for not marrying, not having children, not buying homes, not consuming. A generation such as the Millennials, which has played by the rules, sought the educations they were indoctrinated were essential to "make it" and found themselves receiving nothing in return save massive debt is righteously ticked off. They made college administrators and professors, textbook manufacturers, loan orignators and banks rich throughout the course of their journeys, and they can't find steady employment in their chosen fields and are doomed to be forever behind the eight ball while witnessing "Benedict Arnold" corporations shift operations and jobs overseas - and people expect them to be supporters of the very same system of neoliberal economics and the regime of "free trade" and the "free market"?
That last comment wasn't from the article but some comment deep below. The comment however completely gets it wrong.
Where's this system of neoliberal economics? It's more than just a buzzword and the demagoguery over this is appalling. Who do you suppose is responsible for the massive increased costs of college education? It's mostly Government. Subsidies have allowed education administrations to behave without financial accountability passing on ever increasing costs to students who gladly pay with increasing resources available - and then it still is largely the rich and middle class who even bother going. And let's face it there are a ton of students who have debts for degrees that are largely useless when it comes to making a living - but these were choices they made and are now paying for them - so to suggest there was indoctrination? Bullshit.
Free trade and free markets? Free trade and free markets have been responsible for greater wealth and higher standards of living than ever before. This isn't the problem. You think the solution is to close off the borders to trade and immigration? To regulate and to employ people through government? Good luck with that.
Oh I know, let's hike the minimum wage again because that will make for better jobs...
Ignoring the neoliberal economics comment, because I don't necessarily agree with it nor think it relevant. And there may be tons of students who have degrees that are not marketable in this economy, or that were unrealistic in their decisions.
The indoctrination was the idea that money and success came from working hard and studying hard, earning a good degree, and climbing up the ladder. This is what I was told since I was young by my parents, my guidance counselors, my teachers, the administration, popular media, by every professional I ever met - stay in school, don't do drugs, get into a good college.
I've done fine. I'm doing better than fine for my generation. But compared to the last generation of my profession, I am getting paid less, have 10x the debt, and am working longer hours than they did. Heck, even compared to the professional who graduated eight years ago in my field, I'm doing pretty abysmally. This is not a good time to be starting in your career in America, and is especially not a good time to be a graduate - saddled with debt, relatively few assets, low amounts of work experience, and a generation ahead of you whose only goal seems to be to fuck over everyone BUT themselves.
My ire is at the college administrations who line their pockets at the expense of the professors. The professors then line their pockets with the money made through textbook publishers, hiring TA's to actually teach their classes, and generally preoccupied with getting tenure more than doing their job. The banks who made loans to first year students, then in a few years doubled, then tripled the interest rate, until the senior graduating had to take out loans for 6.8% compared to their 1% interest rate freshman year. The corporations and practices and institutions that continue to suck greedily at the teat of society for the baby boomer generation, like some massively bloated leech that drains its victim dry.
The baby boomer generation will continue to bankrupt and destroy this country not only with its size and age, but also with its unethical business practices, its selfish nature regarding everything from the environment to politics, to the community and city planning, and even popular media and the way we think. I will probably be literally cleaning up the shit of the baby boomer generation as they retire in droves to nursing homes, then die, and leave us to figure out the mess once again, all the while they curse us and call us lazy and ignorant to the very bitter end.