I'm just a realist I guess... If the left wants to drive America off the cliff and they own the media, the schools, etc. then nobody can stop them, right? Currently I think the best of all possible worlds is to maximize the gov benefits and supplement that income with work in the underground economy. Your free time is maximized, your tax and financial complications are nearly non existent, you are free to get a library card and explore any avenue you want to, get some sunshine and exercise when needed, explore anywhere you want without time imposing limits on you in the form of a work schedule...
Why Do So Many Working Age Americans Choose Not To Enter The Workforce?
- Thread starter Tsing Tao
- Start date
I would suspect America has a much higher rate of people who are older working, and a much lower rate of people who are younger working, there is no doubt we do a piss poor job of taking care of our old, but they also do a piss poor job saving for retirement, and it all comes back to the problem that there is only so much money that can go around...... Liberals have decided that monet should go to people who didnt pay for it or earn it, I say if anyone earned it, its the poor bastards who worked till they were 65 paid taxes every year, and did everything right only to get cheated in their twilight years. I have no problem paying money out to people who deserve it, i have a big problem with working age people on "disability because of a soar back, or depression milking the system.
And the feds actions to drop rates to zero in order to chase inflation doesnt exactly help our old people who are retiring in the private sector. In fact its created an environment where its almost impossible for them to retire and safely live off their nest egg.
And the feds actions to drop rates to zero in order to chase inflation doesnt exactly help our old people who are retiring in the private sector. In fact its created an environment where its almost impossible for them to retire and safely live off their nest egg.
Labour force participation rates, OECD countries, 2011
"Notes: Participation rates are for all individuals aged 15+ years except for: Finland (15 to 74 years); Iceland, Norway and Sweden (16 to 74 years); and United Kingdom and United States (16+ years). The OECD average, which is based on 34 countries, is not adjusted for age differences in participation rates across countries.
Source: OECD."
The last part is the crux of the problem Max...I think it should be at the center of most conversation...what exactly did we gain (and who gained it) by holding rates at zero for 7+ years...We know for a fact that those of retirement age are either spending down their principal OR riding the equity roller coaster (at an age where it's basically taboo for that much allocation to equities)...hence their inability to leave the workforce has been another constraint on the post-grad's ability to enter the workforce...We also know that ZIRP has been a huge hurdle for all of these public sector pensions that have been woefully underfunded and "missed their mark" for many years on ROI assumptions...So we've re-ignited another housing bubble, re-ignited sub-prime lending and engineered another equity bubble, vc bubble, etc, etc...and what are we going to have to show for it when we have another inevitable meltdown and wipe out a bunch of retiree's that should have been in fixed income but were "chasing yield" to try and live off of the interest and divi's...
Without question that's been going on for a long, long time...Reminds of the times I've seen a new Range Rover roll into a supermarket and then an EBT card pop out...Of course guys like Ricter don't believe that sort of thing happens, but it's become more the norm in our upside down economy.
Well said.
This looks like another area, where the fed has just completely boxed themselves in, and admittedly i hadnt given it much thought. If they raise rates they crush all the seniors who got pushed into equities at a late age due to ZIRP, but if they dont, then those same seniors will get fucked because they can no longer live off safe instruments.
The takers think we makers are all a bunch of chumps for not "scamming the system like they do".
It is amusing that the current liberal campaign in North Carolina trashing Governor McCrory is all about pushing that the number of people on food stamps has gone up 253% over the past decade while employment has only gone up 8%.
The liberals fail to realize that McCrory has only been in office just over a couple of years, and 8 of those years the governors mansion was occupied by a Democrat.
Yep, sounds like the sort of intellectual dishonesty we can expect from leftists.
