tag:blogger.com,1999:blog-18675105.post8985657387456719147..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: Baby Boomers and the Insolvency of the United States of Americabloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger67125tag:blogger.com,1999:blog-18675105.post-87735095693737553802007-09-25T20:37:00.000+01:002007-09-25T20:37:00.000+01:00I am posting this comment to take the comments lis...I am posting this comment to take the comments list off #66, which is the sign of the beast, aka George Bush Jr. The entire economy is all smoke and mirrors anyway. Spending, which accounts for two thirds of the US GDP,and is the engine of the economoy is coming to a screeching halt with the collapse of the housing market. Better get used to eating out less and driving an old clunker. You wont be able to afford anything else. I guess moving to a third world country is an option, as opposed to living in a 4th world country like this one will turn into shortly.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-85944441699786940762007-09-24T22:13:00.000+01:002007-09-24T22:13:00.000+01:00Time to put every narcistic baby boomer on a SS re...Time to put every narcistic baby boomer on a SS retirement of $50 a month and tins of cat food for the rest of their self absorbed lifetime.<BR/><BR/>They clear dont give a f*ck about anyone else.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-66303717058730327012007-05-18T06:50:00.000+01:002007-05-18T06:50:00.000+01:00kitchenstove:I caution you to write for yourself, ...kitchenstove:<BR/><BR/>I caution you to write for yourself, instead of attempting to write for all Gen Xers, using sweeping generalizations. I don’t know any Boomers who feel they are perfect. When you look at the statistics, there are many Gen Xers who are willing participants in this economic mess, with massive debts and unfunded liabilities. There is enough blame to go around. But blaming doesn’t fix this problem. I don’t know what the future holds. But I find it much more productive to accept some responsibility to sustain changes, than to look for scapegoats, which gets nowhere. <BR/><BR/>JRAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-34024412075580903922007-05-14T23:38:00.000+01:002007-05-14T23:38:00.000+01:00JR,The Boomers HAVE left the greatest mess to clea...JR,<BR/><BR/>The Boomers HAVE left the greatest mess to clean up for anyone coming after them. This is a fact. It has nothing to do with whether a Gen Xer has issues with their parents or not, and I don't see it as trying to pass off blame when it's a plain fact. We as Gen X have a ticking time - bomb on our hands and we have Boomers to thank for it. <BR/><BR/>Whatever anger most Gen Xers direct at the Boomers has nothing to do with entitlement the way you are thinking of it either. Who cares about all the materialistic crap we can buy if we can't even afford a place to put it in? Or if the Earth fries into a crisp? Who cares about a savings if there is nothing left to save? Sure it feels good to buy and own nice things, but those Gen Xers who see worth only as how much stuff they own have chosen to follow the path perfected by the Boomers. If they continue on that path they will regret it. The rest of us only feel entitled to finding something in life that is hopefully still sacred after the Boomers get their hands on it. As you know, we can't even find any decent jobs to survive on for goodness sakes. Forget the big house with the white picket fence or the huge flat screen TV. <BR/><BR/>And as for standing up to the Boomers and changing the world if we disagree with the way it's going...my only answer is that we just aren't ready to take the Boomers on yet. I don't even think most Gen Xers believe we can really take the Boomers on. Obviously, Gen X has a love/hate relationship with the Boomers and we are at once in awe of Boomers and mistrustful of them. Boomers scare the pants off Gen Xers. Many of you guys are our parents after all and you've made sure to always remind us that we could never be as hip, cool, or smart as you were. We have always generally been a generation more prone to self - chastisment and low self - confidence, whereas Boomers think they can do no wrong and have all the answers. To be able to stand up to whatever wrongs we see so that massive changes are made we Gen Xers are going to have to do a lot more living and learning. We're also going to have to get over the idea that the Boomers are perfect. Sometimes our elders can be wrong. <BR/><BR/>There are Gen Xers who fight everyday for what they believe. I do whenever I can, even if it's just being part of a small protest. But many more Gen Xers will have to find some reason to believe this world still has true value (after the Boomers have all but trashed it) for us to really come together and for any real changes to take place. We will get it together eventually though, and watch out when we do.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-40568297299678800692007-05-12T07:09:00.000+01:002007-05-12T07:09:00.000+01:00I guess I just never expected my parents to give m...I guess I just never expected my parents to give me anything .I wanted my parents to enjoy retirement and spend all their money on themselves. After I reached a certain age I didn't look at the parents like a money tree that I was entitled to .Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-8756059998480929242007-05-12T00:55:00.000+01:002007-05-12T00:55:00.000+01:00kitchenstove:I was born in 64, so that makes me a ...kitchenstove:<BR/><BR/>I was born in 64, so that makes me a Boomer. But, I would have been a Gen Xers if I were born a few months later. My point is that I understand the concerns of both generations. I acknowledge the “Gratification Now” culture most likely started with the Boomers (since I do remember my parent’s generation were generally much better savers). But so what as to who started this cultural programming, since ensuing generations have free will not to follow, and chart their own future, free of this cultural baggage. <BR/><BR/>Some Gen Xers look for a scapegoat to blame, instead of accepting some responsibility for participating in the “Gratification Now” culture. You asserted that most Gen Xers want no part of that mindset. Yet that assertion is not supported by facts. Gen Xers save even less than their parents. The Boomers may have started this culture, but Gen Xers were and are willing participants, as their horrible savings rates affirmed.<BR/><BR/>You blame the Boomers for America’s current state. Then you wrote it was your parent’s (Boomers) success, that left your generation with nothing to discover, and took the charm out of everything so why bother was the attitude. If that is the attitude of a typical Gen Xers, unwilling to take any responsibility for America’s current state, then the future is very bleak indeed, since to effectively fix a problem, one needs to see and acknowledge there is a problem, be willing to accept some responsibility in order to sustain the necessary changes to fix it. When one doesn’t even accept any responsibility, then there is no mandate for sustainable changes, and therefore, no fix. <BR/><BR/>JRAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-8622857354415441782007-05-11T17:54:00.000+01:002007-05-11T17:54:00.000+01:00Anon 12:38AM,I think we are in agreement about a l...Anon 12:38AM,<BR/><BR/>I think we are in agreement about a lot of what's wrong with America today, but while you don't blame anyone specifically, I blame Boomers for a lot of the mess we find ourselves in. The Boomers are the powers that be and they have been for awhile now. The Boomers (in most cases) are the government, the corporations, their supporters and what have you and the Boomer mindset of "Me First" continues to overshadow everything these guys do. <BR/><BR/>The only reason the Boomers are worried now is because the party is finally over. They've wrecked the house and the police have been called and there is no more time to do "The Hustle". There is only an increasingly ugly mess to clean up and not much time left with which to clean it. As they look around at this mess (a social, political, economical, spiritual, and environmental mess), more and more Boomers are realizing they ultimately got nothing out of this great, big party anyway. You said many similar things in your assertions, but who can be blamed for most of that if not the Boomers?<BR/><BR/>And Anon 2:46 PM,<BR/><BR/>We do live in a culture of "Gratification Now", but who started that whole cultural movement in this age? It was the Boomers! That's the mindset they spread around. Most Gen Xers wanted no part of that in the 90's. Our parents were more successful than we could ever be, left us nothing to discover, and took the charm out of everything so why bother was the attitude. Unfortunately, a number of Gen Xers have since tried to live by the "Me First" dogma too, but I think they'll soon be remined why that way leads to trouble (if they haven't been enough times already). Especially when this economic crash is fully underway.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-13991990284102894212007-05-11T15:46:00.000+01:002007-05-11T15:46:00.000+01:00I don’t think the main solution to this problem is...I don’t think the main solution to this problem is political – as in which politician can change things for America. I feel the problem is cultural – as in Americans, regardless of whether you are a Boomer, Gen. Xers or Ys, etc. need to stop this culture for gratification now. Gen Xers or Ys trying to blame the Boomers are really missing the point, since they are a part of this gratification now society. As a society, we don’t save enough, and depend too much on foreign savings to finance too many things. We consume and buy things we don’t really need, spending borrowed money, instead of spending within our means or budget. Our government does the same, incurring a deficit budget, unable to control spending, and obscenely incurring more and more debts. This is a multi-generational problem, and not only the Boomers’ problem. <BR/><BR/>The person who wrote right after me on May 10 gave many good suggestions. But I think the most effective solution, and perhaps the most unpopular solution given our gratification now culture, is Americans need to save more money, and only spend within our means, using credit as a convenience, instead of using credit to expand our spending beyond our means (which is easier said, than done). <BR/><BR/>As our debts and unfunded liabilities increase, our leverage around the world decreases. Our current dependence on foreign financing is just as debilitating as our current dependence on foreign oil. Just for some sobering perspective. We currently pay more in annual interest to service our massive debts, than we do to fund our entire educational system. This educational gap will further erode American competitiveness around the world, since other countries make a much higher commitment both culturally and financially, to educate and prepare their children to compete in a global economy (insular competitiveness is exposed in a global economy). <BR/><BR/>Many Americans live life on this financial treadmill, staying a paycheck or two ahead of their debts, because they don’t truly save enough. On a macro scale, our government’s lack of savings also means making many fiscal and monetary decisions that truly hurt our economy. If we had savings, we would not need foreign financing, and would not need to print more money, incurring this indirect tax of inflation. Some many be tempted to say, “But inflation is not that high”. Yeah right! That’s what our government wants you to believe (notice how some pretty important sectors of the economy is left out of the inflation calculations). Inflation is kept somewhat in check because we still attract foreign savings to buy our US dollars and dollar denominated assets. But that isn't going to last indefinitely as world central bankers aren't stupid to deepen our insolvency. <BR/><BR/>Forget inflation numbers for a moment and honestly look at real life. I remember when one parent could support an entire household. I grew up in a household of 5 children as only my father worked. Today, that is less probable as more likely, both parents need to work just to stay ahead of their debts. Why? Inflation! As almost everything cost more today, and takes a larger portion of our income than it uses to. Printing money is not the answer. It never was, as history has shown time and again. If America wants to stop the economic decline, it needs to fix the root problem – lack of savings. But given our culture, I’m not optimistic we will make this unpopular change, since it is easier to blame others and look for scapegoats, rather than honestly look at how we got to this horrible predicament. <BR/>JRAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-72354409145273637682007-05-11T13:40:00.000+01:002007-05-11T13:40:00.000+01:00Anon wrote:Every generation is feeling the stress ...Anon wrote:<BR/>Every generation is feeling the stress of outdated policies and a need for creative thinking to solve real problems . <BR/><BR/>May 11, 2007 12:38 AM <BR/><BR/>===================================<BR/>I think it's a paradox but the policies which are killing us are not the "outdated" policies of the FDR to JFK era. The policies which are killing us are the policies which rejected those earlier FDR laws. We were doing fine until the end of JFK.<BR/><BR/>One thing that must be done is a return to a regulated economy. The Wall Street boom, bust cycles, the post industrial economy, and now the real estate bust were all possible because we went with the "un regulated" market approach.<BR/><BR/>And yes by all means lets do something right for Generation X, Y and Z. Lets make sure that their futures are not wasted like the Boomers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-33177165827997137072007-05-11T10:04:00.000+01:002007-05-11T10:04:00.000+01:00Vote for Ron Paul to change things. Spread the wor...Vote for Ron Paul to change things. Spread the word. Let's change this crap. I'm a Gen X and never voted Republican before. Ron Paul is our man.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-26062320051646160862007-05-11T01:38:00.000+01:002007-05-11T01:38:00.000+01:00Kitchenstove . After 50 years of working you will ...Kitchenstove . <BR/><BR/>After 50 years of working you will build up more wealth than you have right now ,(especially if your smart) I was pissed off also when I was younger that it was taking so long to get ahead .<BR/><BR/>Alot of baby boomers are going to eat it because real estate is going down .At least the younger generations have more time to build retirement that is not dependant on SSI.<BR/><BR/>The Coporations are who you should direct your anger at . I know baby boomers that got their retirements slashed after the fact by companies they worked for 25 years for .Bring back good jobs for the American youth . We need to start cracking down on the laws that make it favorable for corporations to screw American citizens . I think the baby boomers would be behind that along with the GEN X&Y .I think the boomers in large part would be behind measures to trim fat in government and medical costs . The only thing that boomers might be pissed about giving up is the SSI they paid into for 40 to 50 years . Some boomers will starve without that . <BR/><BR/>It does not benefit boomers to have the youth of America screwed . Part of the problem is the lack of truth that comes out because the powers that be want to keep everyone in the dark ,including boomers .<BR/><BR/>Your crazy if you think boomers think in terms of screwing the next generation . I have three children that are struggling with trying to get ahead in life . Don't you think this inflation game is part of the problem with it becoming harder and harder to get ahead . I know people in their 80's that are on fixed incomes that are eating it by inflation .<BR/><BR/>My parents could get by on one income after the War . Now its pretty certain that it takes two working to make ends meet .<BR/><BR/>I think alot of people from all generations are building up toward wanted to enact new laws that will benefit the younger generations . Some of what is wrong in America lie in long term policies that need to be revamped . <BR/><BR/>Every generation is feeling the stress of outdated policies and a need for creative thinking to solve real problems .Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-60145802020034197252007-05-10T20:26:00.000+01:002007-05-10T20:26:00.000+01:00Boomers are hands down the worse generation ever, ...Boomers are hands down the worse generation ever, and the main reason for this is that there are so damn many of them, more than enough of them to cause eons worth of damage to the entire planet. Because I'm sure there have been horrible generations all through time, but I'm willing to bet that none before had the sheer numbers or technology to actully overpower the entire human race with their mindset of selfishness, hypocrisy, and greed. <BR/><BR/>A lot of them like to brag about all the things they've done, but most of what they did was half - assed or just for show. Take Civil Rights for example. They like to brag about how they achieved civil rights for people of color, women, and other minority groups...but these are still all second class citizens. These groups still get treated pretty poorly in general. There are other things they failed at too, but there's no time to mention it all here. <BR/><BR/>All a person can do is ask: Is the world a better place because of the Boomers? Maybe it's the same when it comes to a lot of things, and even worse when it comes to a lot of others. And no I don't believe all Boomers should be seen in a negative light. There are probably many cool ones, but the cool ones aren't the ones we have to worry about because they're a small part of that gigantic population.<BR/><BR/>Long live X...and Y, and Z.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-17563775832784608212007-05-10T08:57:00.000+01:002007-05-10T08:57:00.000+01:00Funny, you Baby Boomers come with sweet tales of h...Funny, you Baby Boomers come with sweet tales of how you were poor, how you were against the war, you lived in fear of Russians, how is bad that generations hate each other, how you paid into SS for a gazillion years, etc.<BR/><BR/>However, you fail to recognize that you voted two freaks into office, twice, who are spending like a Baby Boomer in a Thailand brothel. Also that your irresponsible behavior of insatiable consumerism is leading us to hyperinflation, weak dollar, huge deficits, global warming, higher taxes, etc.<BR/><BR/>Then you guys use the equity in your home, which you bought when the mortgage/gross income ratio was only 14%, to flip properties or buy second homes you don't even need, thus creating one of the biggest housing bubble in history. That ratio I mentioned is now 49% to us, Gen X/Ys. So forget it about our generation ever buying a home, unless we sink deep into debt.<BR/><BR/>But you guys didn't stop there, you started consuming crap from China that you also didn't need, to the point that we are all China's bitches now.<BR/><BR/>On top of that, you guys keep saying that you won't retire, holding the good paying jobs from us, who are getting hammered in the job market with all the outsourcing and immigration that have been going on under your noses.<BR/><BR/>Very touchy your Baby Boomer stories, but the Gen X/Ys are the really ones getting screwed here.<BR/><BR/>And by the way, I'm a Gen X who has been working my ass off since I was 15 years old, including gigs as dishwasher, construction, valet parking, pizza deliver, messenger, etc, while juggling high living costs and much higher college tuitions than you ever paid.<BR/><BR/>So don't come saying that we are lazy...and save you touchy Baby Boomer stories to your crook senators.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-71917169099250929062007-05-10T06:26:00.000+01:002007-05-10T06:26:00.000+01:00I want good jobs for the youth of America ,or at l...I want good jobs for the youth of America ,or at least the opportunity for good jobs .I want the big coporations to be willing to take less profit and give the jobs to Americans (forget giving CEO's such a big chunk ) I want the Coporations to provide better benefits for the citizens of the United States .<BR/><BR/>I want the Americans to start working on getting the medical costs down . I can't help but think that there is a lot of waste in the medical fields that could be trimmed.<BR/><BR/>I want to cut government spending and make government accountable for waste and dead weight employment and stupid spending . <BR/><BR/>I think SSI could start at a later age since people are living longer .Maybe SSI should be taxed even more if a retired person has ample resourses or income aside from SSI.<BR/><BR/>The tax levels will need to be raised on the upper income tax bracket but only charge the higher tax rate amounts over a certain amount like 1 million or more . <BR/><BR/>Change the mortgage interest deduction cap from I million down to allowance to up to 600k .Only allow a one -time exclusion for capital gains on real estate and make it allowable for only people over 55 at a max. of 250k That way the churning of real estate will stop .<BR/><BR/>Do not allow the equity extraction loan amount money from real estate to be tax deductible unless the money is spend on the actual house . <BR/><BR/>Charge a additional capital gains tax for short term real estate speculation of under one year of 5%of the sales price .<BR/><BR/>Require illegals to have medical Insurance just like the industry required all autos to be insured .<BR/><BR/>Start enacting luxury taxes on high priced items usually purchased by the rich and famous . <BR/><BR/>Charge sur-charges for excess energy use .<BR/><BR/>Maybe spend gov.money on building new roads in America or repairing ones that need it rather than a tax-payers bail out for sub-prime borrowers . <BR/><BR/>Create jobs and training to get long term welfare families out of the welfare cycle . <BR/><BR/>Create more public transportation systems .<BR/>Encourage and gov. fund projects that work on future energy sourses that are not dependant on oil .Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-41229255462258436762007-05-09T18:20:00.000+01:002007-05-09T18:20:00.000+01:00I think $50 trillion in debts and unfunded liabili...I think $50 trillion in debts and unfunded liabilities is actually an understatement. I’ve seen actuarial estimates as high as $70 trillion dollars. Turning up the printing press to pay these debts and unfunded liabilities is just FOOLISH. There are many examples in world history affirming the foolishness of printing money to pay debts, resulting in hyperinflation, as in Germany in the 1920’s, to Argentina more recently. This is not a sound economic strategy to truly deal with our massive debts and unfunded liabilities. <BR/><BR/>Politicians understand that raising taxes is tantamount to political suicide. Instead, they prefer to print more money (as USA has done, and continue to do) to pay the bills, which brings on inflation. If this strategy is abused (as countries in the past have done) it brings on hyperinflation. One reason we don't already have hyperinflation is because we have central bankers around the world still willing to buy US dollars and dollar denominated assets. But it is foolish to assume these world central bankers will continue to do this indefinitely. <BR/><BR/>Inflation is an indirect tax on the economy, since it makes many things just more costly to buy, reducing real purchasing power. But leave it to our clueless politicians to deliver a politically popular message, appeasing its political supporters, without truly fixing the root problems, by running a surplus budget, practicing sound fiscal and monetary policies, encouraging Americans to save more money, and discouraging this gratification now society for foolish spending. After all, if you look at our GDP (about $13 trillion dollars), it look good, but upon closer scrutiny, it’s not a true reflection of expanding productivity, but just spending more borrowed money. Our GDP growth is really growth in spending borrowed money, as we owe the rest of the world more and more money. But how long is the rest of the world going to be our creditor? Answer: Not indefinitely, as we are already see central bankers around the world rebalancing some of their reserves into Euros, and other strategic reserves, as they also see USA is insolvent. <BR/><BR/><BR/>Who is to blame? We are all to blame – Boomers, Gen X, and Y, etc. because we all allowed this to happen. We empower our politicians by voting them into power, and they presumably implement plans for the economic good of America. Unfortunately, politicians are not usually people with a great understand of economics, or have great business acumen. They may excel at diplomacy, double talk, and appeasing their political contributors, and special interest groups, but they don’t necessarily do the right things for the greater good of America. Only foolish politicians think that printing money to pay the massive debts and unfunded liabilities is a viable long-term strategy. This only reinforce a well-known truism -Those who fail to understand and learn from the economic mistakes from world history are sadly, condemned to repeat those mistakes. We are currently seeing USA make the same mistakes, and repeating economic failures.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-57640566649558699982007-05-09T18:18:00.000+01:002007-05-09T18:18:00.000+01:00Wow. The only thing more useless than baby boomers...Wow. The only thing more useless than baby boomers are their kids (and grand kids). They sound like they are scheming to lay their hands on their parents money. I thought all they did way lay around all day sipping $5 lattes and playing World of Warquest.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-80661355369991330312007-05-09T16:08:00.000+01:002007-05-09T16:08:00.000+01:00H1Bs for the most part are cheap. But as always yo...H1Bs for the most part are cheap. But as always you get what you pay for and in many cases the $30 an hour Indian "specialist" barely knows how to turn on a computer. I've seen it often and for some reason CIOs still don't get it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-8855940839371637612007-05-09T16:06:00.000+01:002007-05-09T16:06:00.000+01:00Do you guys ever ski in Colorado, Lake Tahoe, Utah...<B>Do you guys ever ski in Colorado, Lake Tahoe, Utah, etc? Those kids you see working on restaurants, lifts, resorts, gift shops, etc, are all foreigners replacing American jobs. You are not going to tell me that working in a ski resort like Heavenly in Lake Tahoe is a job that Americans won't do, are you?</B><BR/><BR/>So? As long as the ski lifts run who cares?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-21316542211645723682007-05-09T12:19:00.000+01:002007-05-09T12:19:00.000+01:00What happened to the days where old people had the...What happened to the days where old people had the decency to die at a reasonable age?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-79830116780260573032007-05-09T10:38:00.000+01:002007-05-09T10:38:00.000+01:00"Ah, that one is easy, eduation in the USA is SO b..."Ah, that one is easy, eduation in the USA is SO bad, that there are nowhere near enough highly-skilled workers to fill these posts. H1-B is not just for computers it is for any highly skilled position, think Biotech, Engineers etc. Just like everything else the USA has a "brain deficit" with the rest of the world. "<BR/><BR/>I'm sorry, but you're a complete fool if you believe that is the reason. There is NO SHORTAGE OF IT PEOPLE in the U.S. If there were, salaries would have skyrocketed the last several years, but, in fact, they have stayed flat. I work in the field and believe me that the IT people from India are no more qualified than any of the out-of-work engineers in the U.S. The reason for importing them is simply to supress salaries. You simply fell for the lie!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-2599452037309740392007-05-09T09:22:00.000+01:002007-05-09T09:22:00.000+01:00I think the Ancient Romans are to blame .I think the Ancient Romans are to blame .Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-7957162688793188252007-05-09T09:18:00.000+01:002007-05-09T09:18:00.000+01:00Generation x&Y acts like they have not benefited i...Generation x&Y acts like they have not benefited in the last 25 to 40 years from some of the benefits that came from the American debt . <BR/><BR/>Whatever funds have gone to the military have kept you Gen X&Y protected also . Whatever debt was the result of money spent toward civil rights or college grants was for the benefit of all Americans ,not just baby boomers . You GENX&Y seem to think that baby boomers got all the benefits from the money that was spent . <BR/>I could go on and on about how much the younger generations benefited by money that was spend that put America into debt . I don't always agree on where the taxes get directed toward but that is a issue that is always debated. <BR/><BR/>Should I complain about all the money America spent on World War II or the soup lines during the Great Depression .Maybe I should get pissed over the fact that the generation before me ran up debt building a bunch of roads in America .Maybe I should be mad that the generations before me created a stock market crash in 1929 that created alot of trends and policies and debt that are still having a effect today .Maybe I shold be pissed that the Depression generation got SSI and medicare that the baby boomers have paid a large part of . .How dare that prior generation from mine spend any money that we Boomers ended up paying for .Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-87414226551767964092007-05-09T08:09:00.000+01:002007-05-09T08:09:00.000+01:00Many years ago a guy named Eric Hopper wrote a boo...Many years ago a guy named Eric Hopper wrote a book called "The True Believer". <BR/><BR/>The jest of the book was pointing out how in order to control people you had to create a enemy. Hilter was very effective in convincing the German people that the Jews were their enemy . <BR/><BR/>I'm not saying that there isn't times where true enemies exist ,but sometimes they are created to control people so they won't discover what the true problems are and rebel. <BR/><BR/>When I see generations having such hate toward other generations, I start to question if the party that hates so much isn't trying to avoid what the real problems are .<BR/><BR/>The battle between the have and the have nots , the young and the old ,one ethnic group against another group, or one religion against another,the Russians against the Americans , etc, have all served to misdirect the creative energy of humans .Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-9963115624943159512007-05-09T06:30:00.000+01:002007-05-09T06:30:00.000+01:00To the posters that talk about the history of boom...To the posters that talk about the history of boomers . <BR/><BR/>I hate to tell you but as a boomer there were times when I paid a 50% to 70% income tax rate for many years . The poster that states that boomers have already gotten their retirement benefits in the form of tax breaks is forgetting that GenX&Y got those same tax breaks and you don't realize how much boomers paid in taxes until they started lowering tax rates in recent times .<BR/><BR/>Part of the problem with SSI is that it was never designed for long life in retirement . When they enacted these benefits they expected people to collect for maybe 5 years .Is that the boomers fault that medical science advanced ? <BR/><BR/>Now because people live longer (and genX&Y will live even longer ),the set up for SSI has some serious problems .<BR/><BR/>If we didn't have any form of SSI than the old people would need to be taken care of by their children,(like they use to do in history or Asian cultures do) . In fact we would live in a society where it would be likely mandated .<BR/><BR/>Many boomers are aware that they might not get all their SSI benefits in spite of paying into the system for 45 to 50 years .Keep in mind that the boomers have not even started collecting SSI and medicare benefits yet but they have put in a massive amount of money in the course of working .<BR/><BR/>What I think America needs to work on is bringing back good jobs to the America people and the youth . <BR/>I don't like what the coporations have done to America in the name of profits .<BR/><BR/>The roots of the current problems in America go way back . We boomers were talking 35 years ago about SSI running out as well as oil while we still paid into SSI.<BR/><BR/>It seems to me that the elected officals don't do anything about situations unless they become a emergency .People seems to like short term thinking instead of long term thinking when it comes to policies . This is a human trait, not just a boomer thing . <BR/><BR/>When I hear the younger people talk on this blog it reminds me of my youth when my peers and myself would talk about these very issues about paying into SSI and never getting it .The boomers were very anti-war and we witnessed our elders buying bomb shelters because we all thought we were going to be nuked by the Russians .<BR/><BR/>Boomers were raised in a environment in which human social issues like civil rights and women rights were projects high on the list,along with a anti-war stance because we were all afraid of getting nuked or the earth being destroyed by bombs .Boomers also got hit by Viet Nam ,which really messed up alot of boomers . Every generation gets hits with what the problems of the day are .Sometimes generations just rebel rather than come up with viable answers to problems .<BR/><BR/>So, Im ranting on and on but I'm just trying to make the current problems in the United States a issue to be worked on by all rather than a issue of getting rid of those no-good baby boomers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-15260281387151432252007-05-09T04:23:00.000+01:002007-05-09T04:23:00.000+01:00"Explain to me why, immediately after the Tech bus..."Explain to me why, immediately after the Tech bust, we were still granting H1-B visas for tech jobs?"<BR/><BR/>Doktaire said... <BR/>Ah, that one is easy, eduation in the USA is SO bad, that there are nowhere near enough highly-skilled workers to fill these posts. H1-B is not just for computers it is for any highly skilled position, think Biotech, Engineers etc. Just like everything else the USA has a "brain deficit" with the rest of the world. <BR/><BR/>Don't believe it. <BR/><BR/>The H1-B guy I know studied PolySci and is working in IT. Is this some special qualification? The real reason is that H1B's can be coerced to work harder because they are indentured to their employer. I thought we had the best educational system in the world? What up? Anyhow, I am sure if you look at the details the US was granting LOTS of H1Bs to IT folks in 2001-2005. And the average length of time ITers have been looking for work is up up up and pay is down down down. Hmmm, coincidence?Anonymousnoreply@blogger.com