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Obviously, nobody knows. I am not investing on the basis of these beliefs - but just for fun, I will take a stab at it.
-Boomers will get some form of national healthcare, eventually. Younger generations will pay for it via taxes/debt or regulated premiums. Many Gen Y's will be employed this way.
-Boomers will work much longer to compensate for their declining assets, and their need to liquidate real estate holdings will force downward pressure on RRE (relative to other assets) for a very long time. (10-20 years)
-Gen Y will take on more debt than any generation in history, facilitated and encouraged by U.S. government policy. They will have few children, even fewer "families", and they will happen later in life.
-Gen Y will be more environmentally cautious, authoritarian and socialist than its predecessors, and more polarized in terms of knowledge, utilization of technology, productivity, and wealth.
-Retirement of boomers will cause a "brain gain". Gen Y will be more adaptive to new technologies than any generation before them, and this will make them the most productive workers in history.
Could it be the brain drain of experience that you speak of?
I know at the company where I retired from the brain drain is a killer. All the knowledge that made the company a world leader either has gone out the door or will leave very soon. The companies response to this is to take the short view to make short term profit king with no thought to any future growth or stability.
I also see the brain drain as older workers leave. These are the people that stayed for 30 years. Young workers today job hop with the average of 5-7 years at a company..how can anyone become as skilled as those retiring ?
I'm in IT and I've seen a few 30+ year retired get called back for some big projects. Two alone came back this past year. I spoke with them teasing them that they just couldn't let go and they told me they were asked to come back to work on certain projects but they only got called back for a few months.
-Retirement of boomers will cause a "brain gain". Gen Y will be more adaptive to new technologies than any generation before them, and this will make them the most productive workers in history.
They are also perhaps the worst educated generation yet. Being adaptive to new technology does not make up for poor education and life skills.
I have absolutely no faith in Gen Y, my plan is to exploit them as much as I can. Its somewhat odd too, they are very easily exploitable. Apparently, instead of doing something they complain on all their new technological mediums.
They are also perhaps the worst educated generation yet. Being adaptive to new technology does not make up for poor education and life skills.
I have absolutely no faith in Gen Y, my plan is to exploit them as much as I can. Its somewhat odd too, they are very easily exploitable. Apparently, instead of doing something they complain on all their new technological mediums.
From the stuff I've read... sometimes I feel that user_id isn't really a person, but instead the heart/seed of skynet
From the stuff I've read... sometimes I feel that user_id isn't really a person, but instead the heart/seed of skynet
You have the basic choice to be exploited or be the person doing the exploiting, I'd much prefer the latter. If that makes me a robot-like well...so be it.
They are also perhaps the worst educated generation yet. Being adaptive to new technology does not make up for poor education and life skills.
This seems meaningless to me. How did the boomers or Gen X have "better life skills" prior to age 30?
As far as education goes, much of what Gen Y is studying did not exist for prior generations to study. Even though Gen Y is statistically more educated, you're contrasting apples and collards with your intergenerational comparison.
Sounds like a garden-variety: "You damn kids get off my lawn." Next thing we know you'll be complaining about cell phones and text messaging.
You have the basic choice to be exploited or be the person doing the exploiting, I'd much prefer the latter. If that makes me a robot-like well...so be it.
I would hope that there are also shades in between. There are win/win situations and such things as compromises that acutally benefit society/individuals as a whole.
I'm sure there are decent, intelligent, street savy Gen Y's, Gen X's, Boomers, etc., etc. out there.
But I do enjoy reading your posts, as you give very stoic and logical arguments/opinions that may be hard to swallow when emotions get in the way of judgement.
This seems meaningless to me. How did the boomers or Gen X have "better life skills" prior to age 30?
It is? You seemed to understand it just fine. Gen-Y seems to have a much poorer understanding of key "life skills" in comparison to prior generations when they were the same age. For example, Gen-Y is horrible with debt (you even mention this...), Gen-Y has rather inaccurate views about education, Gen-Y seems to think you achieve things by complaining about them (largely their parents fault for giving in to their whining), etc.
They will undoubtedly learn "the ways of the world", but they are starting out their lives with a "life skills" deficit and this will have an impact on their entire lives. It also makes it difficult for them to replace aging workers, they are simply not ready yet.
Quote:
Originally Posted by rubber_factory
As far as education goes, much of what Gen Y is studying did not exist for prior generations to study. Even though Gen Y is statistically more educated, you're contrasting apples and collards with your intergenerational comparison.
Sure, many of the things Gen-Y is studying today did not exist before. But that is because Gen-Y created a large demand for poor and ill-conceived academic programs. Gen-Y is "more educated" in terms of the number of degrees, because the bar was lowered for them. They had inaccurate ideas about college (and the world) and people took advantage of that. Now many will be paying for their over-priced degrees for 20~30 years.
Quote:
Originally Posted by rubber_factory
Next thing we know you'll be complaining about cell phones and text messaging.
And its very easy to complain about those things! But its not Gen-Ys fondness of sending drivel to each other via text messages that is going to cause them problems.
I would hope that there are also shades in between.
Not really, you can be a petit bourgeois.
Quote:
Originally Posted by chuck22b
I'm sure there are decent, intelligent, street savy Gen Y's, Gen X's, Boomers, etc., etc. out there.
There are decent, intelligence, etc people in every generation, race, or whatever other grouping you have in mind. But it is the general characteristics of a generation that moves markets.
Gen-Y have particular characteristics, some negative some positive. Gen-Y like their largely Boomer parents react vehemently when you say anything negative about them though! Its somewhat funny.
It is? You seemed to understand it just fine. Gen-Y seems to have a much poorer understanding of key "life skills" in comparison to prior generations when they were the same age. For example, Gen-Y is horrible with debt (you even mention this...), Gen-Y has rather inaccurate views about education, Gen-Y seems to think you achieve things by complaining about them (largely their parents fault for giving in to their whining), etc.
They will undoubtedly learn "the ways of the world", but they are starting out their lives with a "life skills" deficit and this will have an impact on their entire lives. It also makes it difficult for them to replace aging workers, they are simply not ready yet.
Sure, many of the things Gen-Y is studying today did not exist before. But that is because Gen-Y created a large demand for poor and ill-conceived academic programs. Gen-Y is "more educated" in terms of the number of degrees, because the bar was lowered for them. They had inaccurate ideas about college (and the world) and people took advantage of that. Now many will be paying for their over-priced degrees for 20~30 years.
And its very easy to complain about those things! But its not Gen-Ys fondness of sending drivel to each other via text messages that is going to cause them problems.
The lack of common sense in a large segment of the population is also what has led us to many of our current economic and social problems--people without common sense also easily follow off false prophets who make promises clearly illogical and nonsensical on their face because those "common sense-less" folks can't even recognize the silliness that they following off to a very bad outcome.
As to the "demographic deficit" issue, the "breed more kids" solution is a crock. Here's why: The assumption is that a generation will be productive enough to support itself, its children, and its parents--in the parents' case, when they are old enough that they are no longer productive. In an era of high productivity, abundant natural resources, and sufficient capital, that was actually possible. But no more. I would submit that the Baby Boom generation was the last generation that would have been able to do that--and many of them not very successfully. Even the Baby Boomers have relied on an explosion of private and public debt to try to pull it off. The succeeding generations are not going to be able to do it, and they aren't. Breeding more people who can barely support themselves, much less their children or their parents, is no solution to the problem. The solution will be in keeping older Americans productive longer--even if we don't like to think about that, and pursuing conservation of our financial and natural resources at the same time we work to be as economically efficient as possible. That doesn't sound like much fun to many people, but that is what has to happen.
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