Youth Unemployment

[Human Epic Jolt]

Jobs and prosperity come from businesses expanding and investing in R&D / new technologies. Its suprising that many people think we can have a prosperous economy without prosperous businesses & business owners.

There is PLENTY of money to expand businesses and invest in new technologies RIGHT NOW. The problem is the money is 'on the sidelines' waiting to see what the business landscape will be. Investors and businesses can operate well in any environment, except uncertainty.

Make taxes high, make taxes low, create new loopholes, close others, mandate healthcare, etc. One way or the other, just do it so that meaningful business planning & budgeting can be done.

This current environment of not knowing what is coming next, imho is the biggest drag to meaningful job growth.

whatever you do don't call it borrowing.

[rfj1862]

Jobs and prosperity come from businesses expanding and investing in R&D / new technologies. Its suprising that many people think we can have a prosperous economy without prosperous businesses & business owners.

There is PLENTY of money to expand businesses and invest in new technologies RIGHT NOW. The problem is the money is 'on the sidelines' waiting to see what the business landscape will be. Investors and businesses can operate well in any environment, except uncertainty.

Make taxes high, make taxes low, create new loopholes, close others, mandate healthcare, etc. One way or the other, just do it so that meaningful business planning & budgeting can be done.

This current environment of not knowing what is coming next, imho is the biggest drag to meaningful job growth.

Ah, the confidence fairy. Watch out for the bond vigilantes!

[TomW]

Another fairly relevant NYTimes article has popped out with a bit more of a statistical base this time. The conclusion of the authors of the report which it is based on is revealing (for me):

“In this country, the expectation is that every generation does better than the previous generation,” said Signe-Mary McKernan, an author of the study. “This is no longer the case. This generation might have less.” The authors said the situation facing young Americans might be unprecedented.

It notes that a number of factors are leading to this: (1) student debt (older generations didn't have to go to university whereas the present do to get a decent job); (2) stagnant job market (as much work has been off shored or removed due to technological advances); (3) rising costs (as the baby boomers ride the growth of their wealth but also cost the country more which their taxes did not cover despite the usual indignant "I paid my taxes"); (4) stagnant wages due to the effect of the recession (caused by a regulatory regime and banks led by... not the youth).

I think one comparable often forget is that it used to be enough to guarantee a good life to have one adult in an earning job. That was enough to pay for the (cheap) house; (free or cheap); (cheaper) university if unusually required to enter a profession or job; and (much cheaper) medical.

Now, you need two. I know I keep hammering away on this but for some reason the right wing has twisted the debate round so far that people actually believe the youth are lazy and corporates are overtaxed. The exact - THE EXACT - opposite is true. Youth are working hard as ever and jumping through god knows how many more hoops to do so. Corporations are running amok and making record profits.

http://www.nytimes.com/2013/03/15/bu...ilding.html?hp

[caleb]

The Times Magazine devoted a little space to the generational aspects of the recession this week. The part of the article I find most provocative is a reference to a recent Urban Institute study.

The average net worth of someone 29 to 37 has fallen 21 percent since 1983; the average net worth of someone 56 to 64 has more than doubled.

To state the obvious, that's a huge shift in wealth from the young to the old.

This shift has some really interesting political implications for the DFL. How are they going to convince the young in the party that it's just and fair to pay for a social safety net for old people who are - taken as a group - relatively well off? How long will it be until the GOP figures out that they can paint Social Security and Medicare as a transfer of wealth from the poor/young to the old/rich?

I expect it's only a matter of time until we see the generational inequalities being leveraged politically to splinter the DFL and dismantle the welfare state.

[Dallas Tex]

The Times Magazine devoted a little space to the generational aspects of the recession this week. The part of the article I find most provocative is a reference to a recent Urban Institute study.

The average net worth of someone 29 to 37 has fallen 21 percent since 1983; the average net worth of someone 56 to 64 has more than doubled.



How long will it be until the GOP figures out that they can paint Social Security and Medicare as a transfer of wealth from the poor/young to the old/rich?

How much paint would they need given that statistic?

[vertical_doug]

With 55% youth unemployment in Spain and 60% in Greece, elections this October in Germany, the clouds are already on your horizon for the global sh!tstorm.

[chasea]

Lets be real. The boom generation has given, currently gives, and will always give zero fucks about anyone but themselves. Dot period.

Economic wake- zero fucks given.
Environmental wake- zero fucks given.

White picket fence with two cars in driveway is the American pipe dream.

[caleb]

How much paint would they need given that statistic?

It depends on whether or not Social Security and Medicare are solvent over the long term.

If they're solvent over the long term, they're not generationally redistributive because the young (as a group) who pay in today will get their money back later.

If on the other hand they're insolvent, it's a massive generational redistribution because the young (as a group) will pay in today but won't get paid back in the future.

Leveraging the generations apart with the redistribution argument depends on perpetuating the insolvency of SS/Medicare, or at least the perception/expectation of insolvency. I assume strategists on both sides already realize the strategic importance of the solvency/insolvency issue for the Dems, which is why O desperately wants a grand bargain that will make it go away and the GOP sure as hell isn't going to give to to him, at least not without extracting many pounds of flesh. I think this is going to be a really interesting issue going forward.

[jitahs]

Dfl = ?

[caleb]

Dfl = ?

Sorry, that's Minnesotan for Democrat. Sometimes I use it unconsciously but incorrectly to refer to the national party, too.

[Dallas Tex]

With 55% youth unemployment in Spain and 60% in Greece, elections this October in Germany, the clouds are already on your horizon for the global sh!tstorm.

The problems in Greece & Spain are not isolated to youth, the whole thing shit the bed. Any frustration from germany is not from unemployment, but from having to bail out fellow euro$ 'partners' Greece & Spain.

The problems in Greece & Spain are very basic. Spending more than they took in and too many horses riding in the cart, not enough horses pulling the cart.

[Human Epic Jolt]

I think there are a lot of hard working people out there.

[Badonkadonk]

Lets be real. The boom generation has given, currently gives, and will always give zero fucks about anyone but themselves. Dot period.

Economic wake- zero fucks given.
Environmental wake- zero fucks given.

White picket fence with two cars in driveway is the American pipe dream.

this is exactly my view of the boomers
i hope they enjoyed having a smoke watching people go to the moon for no reason whatsoever, because somewhere in here we're going to decide not to pay for their healthcare

[chasea]

this is exactly my view of the boomers
i hope they enjoyed having a smoke watching people go to the moon for no reason whatsoever, because somewhere in here we're going to decide not to pay for their healthcare

Don't even get me started on people your age. ;)

[Dorman]

Don't even get me started on people your age. ;)

Hey, your view is slightly skewed. First; white picket fences are not allowed in most suburban developments these days and garden sheds are right out. You also would not dream of building a house without a 3 or 4 car heated garage. This is being picked up by the children of the "boomers" being mentioned. They also live in a bubble based on money. The more of it you have, the more sheltered you are and want it to remain so. This is a generalization and does not apply to everyone, but in general if you are relatively wealthy and don't ride bikes it pretty much applies. ATMO.

[Human Epic Jolt]

i hope they enjoyed having a smoke watching people go to the moon for no reason whatsoever, because somewhere in here we're going to decide not to pay for their healthcare

one of those dudes discovered a god coming back. got to be worth something in Top Trumps.

i rekon those moon tv / reality guys and apollo 13 actors are covered.

what's the problem?

wtf has the moon got to do with anything?

[Badonkadonk]

Don't even get me started on people your age. ;)

holy shit that is fucking low

is there a hair dye thread in your apparel section?

[Badonkadonk]

wtf has the moon got to do with anything?

i'm not an accountant or anything, but it looked like an expensive series of trips, for, you know, nothing.

[Human Epic Jolt]

i'm not an accountant or anything, but it looked like an expensive series of trips, for, you know, nothing.

they're sending 3d printers up there next time i think.

pizza hut got involved allegedly.-

[Dorman]

they're sending 3d printers up there next time i think.

pizza hut got involved allegedly.-

Oh my how I love that garlic butter dipping sauce for the stuffed crust.