Post: #1

Really good panel discussion on the inequity of wealth transfer from the young working population to seniors.

This video canvasses the scale of payments into medicare and social security and the stripping back of govt investment in education and infrastructure.

The baby boomer demographic has just started to retire from 2013 onwards. It's an enormous ponzi scheme that is about to get even uglier than it is at present as demographics worsen and the working population shrinks as a percentage of society as a whole.

The only way to reduce debt levels with be a combination of taxation increases and entitlement cuts (specifically targeted at those aged 65+). There appears to be no feasible political solution other than a Vietnam War-style march on the capitals of the West by today's youth (which realistically won't happen). In today's democratic system, the elderly already outvote the youth, and this is before we take into account that their numbers are set to increase dramatically.

Guys on this forum should be plotting their escape overseas. You do not want to retire in the West. The cupboard will be bare.





Question on NYU: Why do so many of the NYU students in the audience with questions ramble incoherently at length? Why are they arguing against the panel who are only pointing out that the youth are being ripped off terribly. I'm guessing you don't have to be particularly intelligent to gain admission here.

Post: #2

America is doomed

Post: #3

To retire in the West comfortably, you have to begin planning early and basically "beat the system." Account for everything, it's better to over-prepare rather than under-prepare.

Post: #4

Generational theft is real.

The children of the 1960s were supposed to be the ones to change the world for the better; to eschew materialism in favor of "free love" and radical change. Instead, they wound up being the most greediest, materialistic generation to date, helping destroy the economy and the environment in the process.

So, what happened next? Disillusioned by the 1970s, they did away with the politics and kept up the free love and the drugs. In the 1980s, they scrapped all of it in favor of ruthless individualism, unabashed service to self, and living up to Gordon Gecko’s ideal that “greed is good.” This was a nice segue into the 1990s where there was unprecedented prosperity founded upon wanton stock speculation. This generation mortgaged themselves to the hilt buying shit that they did not need, owing to some juvenile notion that the prosperity of the 1990s would somehow continue into perpetuity. You know the rest; stocks dried up and Wall Street pumped the world's money into American real estate. That worked for a while until BOOM – massive speculation bubble bursts and we all wound up FUCKED because of that unchecked greed.


So, where does that leave US? Well, many people you probably know, if not yourself, are professionally adrift; stuck in middle management, underemployed, or just plain unemployed as a direct result of their lack of discipline or foresight. A lot of young folks can't move up a rung in the ladder because the boomers still haven’t retired – or rather, they CAN’T retire. They refinanced their over-sized houses too many times or lost their retirement dough playing fast-and-loose with stocks or mortgage dominoes.

The buck doesn't stop there though. Because of advances in modern medicine and the fact that they didn't live on a steady diet of red meat, martinis and cigarettes like the generation that came before them they’re going to live for a lot while longer, leaving everyone that came after them holding the Social Security bag.

Bottom Line? The generation following them were supposed to have inherited this world by now – yet many can’t because they’re still holding all the chips. There will be no passing off of any keys to the kingdom this time around. The only way for the succeeding generations to get their due is to take it from them. It’s an unsavory thought, but one that's probably necessary. Otherwise, the alternative is the worsening of the status quo.

Post: #5

Having offshore assets (ideally under a second passport/identity) will be more and more important for young Americans. The piper has to be paid at some point and I'll be damned if I'm funding someone else's excess.

Post: #6

(01-20-2014 05:44 PM)Que enspastic Wrote:  Question on NYU: Why do so many of the NYU students in the audience with questions ramble incoherently at length? Why are they arguing against the panel who are only pointing out that the youth are being ripped off terribly. I'm guessing you don't have to be particularly intelligent to gain admission here.

I think all kids, all college students think they are smarter than they are. Narcissism is higher than at any point in history.

Quote:The average college student thinks he possesses above average intelligence, drive, and leadership qualities, according to a new study that shows narcissism among young people is at a 50-year high.

http://dailycaller.com/2013/01/08/are-co...z2qzjUx9ke

Post: #7

As has already been said, the best strategy is to set yourself up to be self sufficient with a strong base of capital and a marketable skill set, and get the hell out of the West.

Not just for financial reasons either. I personally cannot stand to support a generation that has so selfishly left us this mess to deal with.

Post: #8

To go to NYU you need to be somewhat smart but it's much more important that your parents are loaded, haha. It's known for being one of the priciest schools.

Post: #9

Quote:Question on NYU: Why do so many of the NYU students in the audience with questions ramble incoherently at length? Why are they arguing against the panel who are only pointing out that the youth are being ripped off terribly. I'm guessing you don't have to be particularly intelligent to gain admission here.

Cognitive dissonance- psychological conflict resulting from incongruous beliefs and attitudes held simultaneously. Since they can't accept the truth they will shout you down to maintain their comfortable lie. Good find.

Post: #10

God damn.

There is a part in the video where one of the panel members says his 3 college aged daughters only care about gay rights and environmental issues. This is why we are fucked.

College guys are so blue pill and lazy they will care about and try to get into whatever chicks follow to try and get some ass from being thirsty. Talking about money is not sexy because American chicks are entitled little brats for the most part. The guys are too but at least they can change easily with the right mentoring.

Sounds bad, but I think belittling people and women especially for prioritizing and championing secondary and tertiary causes would be good for America.

The economy will always be the most important issue coupled closely with national defense. Without those two there is no control.

All other issues fall way down the ladder.

Post: #11

The U.S. debt ceiling visualized as pallets of $100 million each. Mind blowing.

http://demonocracy.info/infographics/usa..._debt.html

Post: #12

The $122 trillion in U.S. unfunded liabilities as of Dec 31, 2012 visualized as pallets of $100 million each. Mind Numbing.

http://demonocracy.info/infographics/usa..._debt.html

Post: #13

(01-20-2014 08:01 PM)Hencredible Casanova Wrote:  Generational theft is real.

The children of the 1960s were supposed to be the ones to change the world for the better; to eschew materialism in favor of "free love" and radical change. Instead, they wound up being the most greediest, materialistic generation to date, helping destroy the economy and the environment in the process.

So, what happened next? Disillusioned by the 1970s, they did away with the politics and kept up the free love and the drugs. In the 1980s, they scrapped all of it in favor of ruthless individualism, unabashed service to self, and living up to Gordon Gecko’s ideal that “greed is good.” This was a nice segue into the 1990s where there was unprecedented prosperity founded upon wanton stock speculation. This generation mortgaged themselves to the hilt buying shit that they did not need, owing to some juvenile notion that the prosperity of the 1990s would somehow continue into perpetuity. You know the rest; stocks dried up and Wall Street pumped the world's money into American real estate. That worked for a while until BOOM – massive speculation bubble bursts and we all wound up FUCKED because of that unchecked greed.


So, where does that leave US? Well, many people you probably know, if not yourself, are professionally adrift; stuck in middle management, underemployed, or just plain unemployed as a direct result of their lack of discipline or foresight. A lot of young folks can't move up a rung in the ladder because the boomers still haven’t retired – or rather, they CAN’T retire. They refinanced their over-sized houses too many times or lost their retirement dough playing fast-and-loose with stocks or mortgage dominoes.

The buck doesn't stop there though. Because of advances in modern medicine and the fact that they didn't live on a steady diet of red meat, martinis and cigarettes like the generation that came before them they’re going to live for a lot while longer, leaving everyone that came after them holding the Social Security bag.

Bottom Line? The generation following them were supposed to have inherited this world by now – yet many can’t because they’re still holding all the chips. There will be no passing off of any keys to the kingdom this time around. The only way for the succeeding generations to get their due is to take it from them. It’s an unsavory thought, but one that's probably necessary. Otherwise, the alternative is the worsening of the status quo.

Agreed, but with a few additions.

The Baby Boomers are the worst generation that this country ever had, and it's sad. While their parents' generation helped save the world for democracy and freedom, their parents' heroism didn't extend to actually disciplining their children.

Unfortunately, this led to the hippies of the 1960s, who signified that the time of decline was soon to be at hand. While some of the Boomers volunteered (or were drafted) to fight and die in Vietnam, too many stayed home under the pretext of college and "freedom," never quite understanding that freedom is not free.

Unfortunately, the Boomers then gave birth to the millennials, who I'm an unfortunate member of. While we are not the worst generation ever, I feel as though we will be looked upon as the generation who was forced to fight through our parents' mistakes and at least attempt to restore the country. Sadly, however, not enough of us actually have the fortitude to do it. Most of us would rather be on Twitter or Facebook than actually learning skills we need to know. Hopefully, there will be enough people who actually have the balls to do what is necessary over what they feel to be popular.

Post: #14

(01-21-2014 12:27 AM)Travesty444 Wrote:  God damn.

There is a part in the video where one of the panel members says his 3 college aged daughters only care about gay rights and environmental issues. This is why we are fucked.

College guys are so blue pill and lazy they will care about and try to get into whatever chicks follow to try and get some ass from being thirsty. Talking about money is not sexy because American chicks are entitled little brats for the most part. The guys are too but at least they can change easily with the right mentoring.

Sounds bad, but I think belittling people and women especially for prioritizing and championing secondary and tertiary causes would be good for America.

The economy will always be the most important issue coupled closely with national defense. Without those two there is no control.

All other issues fall way down the ladder.

I totally agree, but idiots vote based on things like gay rights and environmental issues. Very few people actually vote based on things like the economy and national defense, simply because they don't tend to arose the emotions. For some of us, they do. However, most of us tend to be pretty rational and (if the dark triad can be believed) somewhat Machiavellian.

The Republicans lost the 2012 election for a few reasons, but one of the biggest ones was the style of campaigning. Whereas Romney campaigned upon things like entitlement reform (albeit incorrectly done), the economy, and other legitimate issues, Obama campaigned on things like gay rights, environmental issues, and the "war against women." The fact is that positions don't win campaigns, emotions do.

Since the vast majority of people are idiots and didn't understand what Romney was talking about, Obama's victory was almost a foregone conclusion.

Post: #15

http://m.quickmeme.com/Scumbag-Baby-Boomers/page/2/

There's even a Scumbag Baby Boomer meme.

Post: #16

People paid into social security for years based on the implied promise that it would be there for them when they retire. If the government hadn't spent the money, there would be more than enough to cover the old people. Social security was suppose to be self-funding. And if you have money saved you are still screwed because the Fed's zero interest rate policy is a mass transfer of wealth from retired people to the Banksters. A million dollars in the bank at .5 percent interest gets you $5000 a year to live on.

This video seems to be headed by the same hippie radical scum who screwed up the system to begin with. Now, they are shifting the debate and calling people who paid in full to a system the thieves, and they don't even mention the mass transfer of entitlements to people who don't work. The 1960s radicals who destroyed the system are now in control of government and academia. They have no answers. Your professors are fools. Why did young people vote for Obama? Obamacare is the biggest screw job ever perpetrated on the young and healthy. And the same people are pushing the global warming swindle so they can confiscate more wealth. Why do you vote these people in power?

Post: #17

(01-20-2014 08:20 PM)Peregrine Wrote:  Having offshore assets (ideally under a second passport/identity) will be more and more important for young Americans. The piper has to be paid at some point and I'll be damned if I'm funding someone else's excess.

No. The IRS is one step ahead of those looking to start now. Its called FATCA and foreign banks will be performing due diligence when creating bank accounts for foreign persons. If that person is american, they will withold taxes and remit them to the IRS, you need to file taxes in America to get that witholding back.

Renouncing citizenship is the way around this.

Post: #18

(01-21-2014 11:55 AM)Sherman Wrote:  People paid into social security for years based on the implied promise that it would be there for them when they retire.

Now the up and coming generation is paying into social security with the full expectation that pensions will be slashed / practically abolished by the time they reach retirement.

As the panel points out, the deficit between what a baby boomer pays into the system and gets out of it vs today's gen is around $700,000 (one is +$300,000 ahead, the other -$400,000 down).

Youth / unemployment benefits will almost certainly be axed far before social security for seniors is touched due to their massive power within the democratic system as engaged voters.

I don't see any societal solutions. Ask Japan how they plan to function when the elderly outnumber the working population.

The solution is individual. Plan your escape. Learn skills that will allow you to set up your own business abroad.

Post: #19

The US, or another major country, needs to default on their debt, Argentina style. I think that's the only thing that will get through to the current crop of amoral Harvard MBA bankers.

Lot's of people, like goldbugs, want to believe that there is intrinsic lasting value in the world, but the truth is that money and its value is always dependent on what's happening in an economy at a certain point in time. If young, or other, people don't produce value right now there is no value to pay the baby boomers. If the balance is out of sync, like their being too many old people, the house of cards falls down and has to be rebuilt.

Post: #20

This shit seems pretty scary as a young person, but is anyone on this forum really counting on Social Security to fund their retirement?

Post: #21

(01-21-2014 12:39 PM)Dr. Howard Wrote:  

(01-20-2014 08:20 PM)Peregrine Wrote:  Having offshore assets (ideally under a second passport/identity) will be more and more important for young Americans. The piper has to be paid at some point and I'll be damned if I'm funding someone else's excess.

No. The IRS is one step ahead of those looking to start now. Its called FATCA and foreign banks will be performing due diligence when creating bank accounts for foreign persons. If that person is american, they will withold taxes and remit them to the IRS, you need to file taxes in America to get that witholding back.

Renouncing citizenship is the way around this.

"Having offshore assets (ideally under a second passport/identity) will be more and more important for young Americans."

Post: #22

Post: #23

Watched the whole video the other night. Some mind blowing charts in the presentation.

I had some thoughts about the questioners similar to the above but when I typed them they made me sound like Clint in Gran Torino...

Post: #24

(01-21-2014 10:48 PM)DrRamen Wrote:  This shit seems pretty scary as a young person, but is anyone on this forum really counting on Social Security to fund their retirement?

Exactly. IMO it's a pretty stupid idea to spend your youth working to save up money for when you're 65+ at which point you won't be able to do the things you want (assuming you're even alive by then).

Also, lol at the panel members in the video saying the solution is the "political process". Yeah right. The solution is expatriation.

Post: #25

(01-22-2014 11:35 AM)solo Wrote:  Also, lol at the panel members in the video saying the solution is the "political process". Yeah right. The solution is expatriation.

The solution is going to end up being some sort of popular uprising that will overthrow the existing order. Either that or another civil war, which wouldn't really surprise me either.