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(BBC)   People born in 1960s and 1970s 'poorer' than previous generation. Wait until they look at those born in the 1980s and 1990s   (bbc.co.uk) divider line 126
    More: Obvious, bus pass, Institute for Fiscal Studies  
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3326 clicks; posted to Main » on 17 Dec 2013 at 5:25 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-12-17 03:56:26 PM  
Considering my bedroom is about the size of the house I grew up in, I say BS.
 
2013-12-17 04:17:20 PM  
Yep. Many of us said fark the rat race and this is what we got.
 
2013-12-17 04:39:24 PM  
I was born 1980 and I can tell already I'm worse off than my parents were. One huge difference being I have students loans, they never did.
 
2013-12-17 04:39:47 PM  
Or anyone born in 2008 and later.
 
2013-12-17 04:40:59 PM  

Friskya: Or anyone born in 2008 and later.


If only we had elected Romney. He would have given millions of us high-paying jobs in the oil industry.
 
2013-12-17 05:09:36 PM  
And oh look this wonderful burgeoning discussion troll thread has been greenlit.
 
2013-12-17 05:27:42 PM  
Considering my bed is also a racecar, I say BS.
 
2013-12-17 05:28:25 PM  
Wrong submitty. People in the 60 and 70's were not born they were hatched.
 
2013-12-17 05:28:34 PM  

whidbey: Friskya: Or anyone born in 2008 and later.

If only we had elected Romney. He would have given millions of us high-paying jobs in the oil industry.


New budget deal expands oil exploration on federal lands...
 
2013-12-17 05:30:06 PM  
It's increasingly hard for me to say the Boomers didn't make things successively worse for their kids and future generations.  But that's not to say how their parents, the 'Greatest Generation', and the sub-generation between, also did a horrendous job.  They got their pensions, their cheap loans for houses, cheap education, and then walled up the castle behind them.  It wasn't just the Boomers, although they're the main culprits.
 
2013-12-17 05:30:12 PM  
Hey, my car and porn habit won't pay for itself stubby.

/Can someone lend me $20 for beer?
 
2013-12-17 05:32:16 PM  

raerae1980: I was born 1980 and I can tell already I'm worse off than my parents were. One huge difference being I have students loans, they never did.


This, minus the loans.

However, I'll beat them in the long run. I don't run up credit cards like they do.
 
2013-12-17 05:32:27 PM  
But the Waltons/Kochs are wealthier. That's what's important.
 
2013-12-17 05:32:58 PM  
is this the thread where sad-sack mopes try to assign some sort of actual conscious intent on the part of demographic groupings as though those groupings were sentient entities?

the boomer is coming to git you.. ah-ha
 
2013-12-17 05:33:39 PM  

Scorpitron is reduced to a thin red paste: It's increasingly hard for me to say the Boomers didn't make things successively worse for their kids and future generations.  But that's not to say how their parents, the 'Greatest Generation', and the sub-generation between, also did a horrendous job.  They got their pensions, their cheap loans for houses, cheap education, and then walled up the castle behind them.  It wasn't just the Boomers, although they're the main culprits.


I disagree.  The Greatest Generation handed that over to the Boomers, who promptly said "F*ck you, I got mine" and proceeded to f*ck not only the rest of the country, but themselves over in the name of profit.
 
2013-12-17 05:34:03 PM  

letrole: is this the thread where sad-sack mopes try to assign some sort of actual conscious intent on the part of demographic groupings as though those groupings were sentient entities?

the boomer is coming to git you.. ah-ha


Boomer is their surname.
 
2013-12-17 05:34:52 PM  

Quantum Apostrophe: letrole: is this the thread where sad-sack mopes try to assign some sort of actual conscious intent on the part of demographic groupings as though those groupings were sentient entities?

the boomer is coming to git you.. ah-ha

Boomer is their surname.


Boomer is a learned behavior.
 
2013-12-17 05:35:18 PM  

Molavian: Scorpitron is reduced to a thin red paste: It's increasingly hard for me to say the Boomers didn't make things successively worse for their kids and future generations.  But that's not to say how their parents, the 'Greatest Generation', and the sub-generation between, also did a horrendous job.  They got their pensions, their cheap loans for houses, cheap education, and then walled up the castle behind them.  It wasn't just the Boomers, although they're the main culprits.

I disagree.  The Greatest Generation handed that over to the Boomers, who promptly said "F*ck you, I got mine" and proceeded to f*ck not only the rest of the country, but themselves over in the name of profit.


I would say, yes, but then remember the Rumsfelds, the Cheneys, the Reagans and the slew of Reaganites.  The Boomers as a massive, faceless generation grabbed all they could.  But the architects for this, the ones dismantling the safety nets carefully constructed for some time, were older than them.
 
2013-12-17 05:36:18 PM  

letrole: is this the thread where sad-sack mopes try to assign some sort of actual conscious intent on the part of demographic groupings as though those groupings were sentient entities?

the boomer is coming to git you.. ah-ha


Because huge masses of people have no guiding characteristics?  Any random 75 million people from Indonesia are the same as any random 75 million people from Canada?  You want to rethink that one?
 
2013-12-17 05:37:27 PM  
It suggests an end to the steadily rising incomes and living standards since World War Two.

Well, what a cowinkydinky. The generation that made a deal with big business and fought a terrible global war with the understanding that they would have education, fair housing and decent wages after the war is dying out. And the deal they struck is dying out too.

Back to the good old days of fascism and transferring as much wealth from the poor to the rich as possible. Nothing is out of bounds.

You want to watch the same bowl games your grandfather watched on his TV? Buy cable and maybe another tier.
 
2013-12-17 05:38:53 PM  
And one parent working back then to have the same lifestyle it takes both today.
Pensions.
But maybe we have more stuff today.
 
2013-12-17 05:40:23 PM  
We were born in the seventies
The rippin and rhyming and brethren see
We're filling taste great
In the old school I was eight
Fot the new school I was late
But in high school I was debate
I rate in the great state of California
I'm warning ya
Je vais a la plage parce que le guignol est chouette!
I kick nonsense in French tasty like Crepe Suzette
I bet you're feeling famished for a 311 sandwich
Not the wack DJ's that I'ma damage
I like a beat that's unique and I like my head zooming
And in my Continental you know that shiat's booming
With the diamond int eh back suicide doors
You can look from here to eternity
And never receive your morsel.

/sorry about that
 
2013-12-17 05:40:53 PM  

LordZorch: Considering my bedroom is about the size of the house I grew up in, I say BS.



Good for you.

Analytical thinking isn't your strong suit and you're either ignorant of statistics or too lazy to differentiate between one individual's outcome and the average outcome of a large group's members, yet you've found a way to be financially successful despite your intellectual shortcomings. Well done.
 
2013-12-17 05:41:15 PM  
Wages and other economic factors aside, the truth is we have a lot more recuring bills than they did! Back then all our folks needed to pay were the basic utilities and major purchases like a car and mortgage.

They didn't have cell phone bills, data plan, high speed internet, Netflix and other type of subscription services not to mention things that has become almost staple nowadays like cell phone, computers, multiple TVs, kitchen appliances, smart electronics etc...  It's intellectually dishonest to do this type of generational comparison.
 
2013-12-17 05:43:33 PM  

wichitaleaf: And one parent working back then to have the same lifestyle it takes both today.
Pensions.
But maybe we have more stuff today.


We have refrigerators, so we can't be poor! See, progress!

/feel free to ignore lack of food in said fridge
 
2013-12-17 05:45:20 PM  
Scorpitron is reduced to a thin red paste: Any random 75 million people from Indonesia are the same as any random 75 million people from Canada? You want to rethink that one?

Canada has a population of only 35 million. Don't let such a obvious lack of a clue slow you down in a discussion of demographics.

Shine on, you crazy diamond.
 
2013-12-17 05:45:50 PM  
Hatched in '67, and, since i was 15, I have never known what its like to not have two jobs. Still have the taste of reagan's government cheese and WIC chex in my craw. Made some good choices and some bad choices. Managed to get a four year degree and buy a crappy little house and help my kids with tuition as much as I can. That said, I have no savings, and am well aware that I am but one stroke of bad luck away from total ruin. I also laugh heartily at the thought of retirement. Like, ever.

Not blaming anyone, and I don't know what it means, but total economic uncertainty seems to be common thread amongst my generation.

/Which would be what? Gen X?
 
v15
2013-12-17 05:46:55 PM  

raerae1980: I was born 1980 and I can tell already I'm worse off than my parents were. One huge difference being I have students loans, they never did.


Same here dude. Also born in 1980 with student loans.

Btw we were born in sort of a bad year. Bon Scott, John Bonham, John Lennon, and Steve McQueen all died that year.
 
2013-12-17 05:47:28 PM  
...and what are the odds that this decline also follows the fall of Unions?
 
2013-12-17 05:49:01 PM  

Scorpitron is reduced to a thin red paste: Molavian: Scorpitron is reduced to a thin red paste: It's increasingly hard for me to say the Boomers didn't make things successively worse for their kids and future generations.  But that's not to say how their parents, the 'Greatest Generation', and the sub-generation between, also did a horrendous job.  They got their pensions, their cheap loans for houses, cheap education, and then walled up the castle behind them.  It wasn't just the Boomers, although they're the main culprits.

I disagree.  The Greatest Generation handed that over to the Boomers, who promptly said "F*ck you, I got mine" and proceeded to f*ck not only the rest of the country, but themselves over in the name of profit.

I would say, yes, but then remember the Rumsfelds, the Cheneys, the Reagans and the slew of Reaganites.  The Boomers as a massive, faceless generation grabbed all they could.  But the architects for this, the ones dismantling the safety nets carefully constructed for some time, were older than them.


You know, you're right.  I always considered them quasi-boomers, but they weren't.
 
2013-12-17 05:49:16 PM  
I'm fortunate enough to be right about where my parents were, with the exception that my career allows for more progression than theirs did. Either way, I'm well enough off to give them nice things for x-mas, at the very least for putting up with my crap as a kid.
 
v15
2013-12-17 05:52:17 PM  
April 1980 is Gen X or Y?
 
2013-12-17 05:53:27 PM  
Not sure this is 100% if you where born '70-'74 most likely true, if you where born '75-maybe 80 you hit the tech bubble properly, after that you spent a lot of money on school mostly for nothing even CS degrees.

Just my observation of like people I know and shiat.
Late 80's early 90's what are you early mid 20's? your probably screwed but it's to early to tell for certain

/Yes even in CA School costs went up like 300% in the 90's
/Still less than the states but still
 
2013-12-17 05:53:56 PM  
Hmm, early Gen-X-er here. Bought a house at 32, let it go in the divorce. Been saving for a new house. (I wanna put down that 20% this time.) Maybe next year, maybe the year after. So I'm not doing all that bad.
 
2013-12-17 05:55:47 PM  

Peki: raerae1980: I was born 1980 and I can tell already I'm worse off than my parents were. One huge difference being I have students loans, they never did.

This, minus the loans.

However, I'll beat them in the long run. I don't run up credit cards like they do.


Why because they don't give you six or seven when you get your first student loan anymore?
 
2013-12-17 05:59:04 PM  
show of hands, please.

how many sad-sacks who blame demographics for their own personal failure have a tattoo?

hmm, you've got l-o-v-e and h-a-t-e spelt right acoss the knuckles

nice
 
2013-12-17 05:59:36 PM  

albatros183: Why because they don't give you six or seven when you get your first student loan anymore?


No. I just learned better control over my finances. Mom's been through bankruptcy twice, and Dad. . . yeah, you don't want me to get started on Dad's shenanigans.

/not having any income to pay said CCs helps too, but that's a relatively recent situation
 
2013-12-17 05:59:54 PM  

letrole: the boomer is coming to git you.. ah-ha


Shouldn't you be posting some stupid list that has Big Macs in it?
 
2013-12-17 06:00:25 PM  
~~SuperNinjaToad: Wages and other economic factors aside, the truth is we have a lot more recuring bills than they did! Back then all our folks needed to pay were the basic utilities and major purchases like a car and mortgage.
They didn't have cell phone bills, data plan, high speed internet, Netflix and other type of subscription services not to mention things that has become almost staple nowadays like cell phone, computers, multiple TVs, kitchen appliances, smart electronics etc...  It's intellectually dishonest to do this type of generational comparison.


Bet the above comment will be the most ignored comment in this thread.
 
2013-12-17 06:00:32 PM  

letrole: l-o-v-e and h-a-t-e spelt right acoss the knuckles


best part...forever???
 
2013-12-17 06:01:07 PM  
People keep saying that, but would anyone actually want to live in the 60-70s with 50 year old technology, living standards, medical treatment, and purchasing power?
 
2013-12-17 06:01:52 PM  

v15: April 1980 is Gen X or Y?


Cusp and depends a bit on your maturity.  If you were precocious enough to somewhat care about Challenger, Chernobyl, Reagan, and be a bit scared of the USSR, you're a late Xer.  If you don't really remember not having a Game Boy, you're an early Gen Y.

SuperNinjaToad: Wages and other economic factors aside, the truth is we have a lot more recuring bills than they did! Back then all our folks needed to pay were the basic utilities and major purchases like a car and mortgage.

They didn't have cell phone bills, data plan, high speed internet, Netflix and other type of subscription services not to mention things that has become almost staple nowadays like cell phone, computers, multiple TVs, kitchen appliances, smart electronics etc...  It's intellectually dishonest to do this type of generational comparison.


Meh, I think the comparison should at least be made.  Let's take my parents.  They were paying ~$28 a month for phone service in 1978.  For a (rented, had to rent) avocado rotary phone, local calls, and ~45 minutes of long distance a month.  That's about $97 in 2013 terms.  You can get internet (infinite porn, infinite news), unlimited calling to the US and 40 other countries (VoIP plans), and a basic prepaid cell plan for that kind of money.  They were also paying $90 a month (in 2013 terms) for 13-channel cable, but that was rare at the time (they were in a remote community).  They watch that on a blah TV that cost, in 2013 terms, about $2200.

A lot of stuff has gotten really, really cheap.  A lot hasn't (housing, gas, education, medical care).
 
2013-12-17 06:03:28 PM  

crack-fiend: ~~SuperNinjaToad: Wages and other economic factors aside, the truth is we have a lot more recuring bills than they did! Back then all our folks needed to pay were the basic utilities and major purchases like a car and mortgage.
They didn't have cell phone bills, data plan, high speed internet, Netflix and other type of subscription services not to mention things that has become almost staple nowadays like cell phone, computers, multiple TVs, kitchen appliances, smart electronics etc...  It's intellectually dishonest to do this type of generational comparison.


Bet the above comment will be the most ignored comment in this thread.


Eh. It doesn't apply to most of my friends. We've all pared down the recurring bills as much as we can. Those are generally the first to get cut, and I don't know many people that are actually doing well enough to start adding on.
 
2013-12-17 06:04:14 PM  

alizeran: Hatched in '67, and, since i was 15, I have never known what its like to not have two jobs. Still have the taste of reagan's government cheese and WIC chex in my craw. Made some good choices and some bad choices. Managed to get a four year degree and buy a crappy little house and help my kids with tuition as much as I can. That said, I have no savings, and am well aware that I am but one stroke of bad luck away from total ruin. I also laugh heartily at the thought of retirement. Like, ever.

Not blaming anyone, and I don't know what it means, but total economic uncertainty seems to be common thread amongst my generation.

/Which would be what? Gen X?


You are of that weird ass line between boomer and X. there is a name for y'all, but I can't recall

My brother, born in 64, is in the same boat as you.

I was born in 74, and while not terribly off, I can't say I'll be able to retire either. Despite a steady and decent manufacturing job.

my little half sister is even more amusing. A solid millennial, born to boomers. Generally speaking, the millinnials are the children of gen X. But, the leading edge of them is to be the children of your age bracket

That's my observation of it all at least. I'm sure someone more opinionated than myself will correct all that
 
2013-12-17 06:06:00 PM  

crack-fiend: ~~SuperNinjaToad: Wages and other economic factors aside, the truth is we have a lot more recuring bills than they did! Back then all our folks needed to pay were the basic utilities and major purchases like a car and mortgage.
They didn't have cell phone bills, data plan, high speed internet, Netflix and other type of subscription services not to mention things that has become almost staple nowadays like cell phone, computers, multiple TVs, kitchen appliances, smart electronics etc...  It's intellectually dishonest to do this type of generational comparison.


Bet the above comment will be the most ignored comment in this thread.


As well it should. It totally fails to address declining wages and the ever-widening gap between the rich and poor in this society.
 
2013-12-17 06:08:14 PM  

Skarekrough: ...and what are the odds that this decline also follows the fall of Unions?


Strong odds.
 
2013-12-17 06:12:09 PM  
Not to contradict the gist of TFA, but it seems a little scattershot.

"People born in the 1960s and 1970s will only be wealthier than the previous generation in retirement if they inherit money, the Institute for Fiscal Studies (IFS) has said.
The think tank found people in their 40s and 50s are less likely to own a home than those 10 years older.
"

These two sentences are talking about significantly different things.

The "previous generation" is not the same as "those ten years older."

And the statement about homeownership  is comparing the situation of two age groups at a given point in time (now, apparently) while the previous sentence is comparing generational cohorts at a given stage (retirement) which for one of them will occur ten years later.


v15: April 1980 is Gen X or Y?


Normally considered Gen X
 
2013-12-17 06:12:46 PM  
It's so tiresome to hear people blame the previous generation. Look - post WWII the US had a huge advantage over the rest of the world - democratic capitalism, a ramped up economy, and our international competition literally bombed to the ground. People should realize that the advantages we had in the 50's and 60's were the exception , not the rule and the working class in the United States will never ever see its like again.
 
2013-12-17 06:13:40 PM  
My parents felt tthey had been successful when they bought a 1600 sq ft house. Then they came to visit my 3200 sq ft house. i only have 1 kid.We do okay, and don'y have the botload of crap. Getting readyto downsize, since the little one is going to college.Only had a 15 year note.
 
2013-12-17 06:14:41 PM  

TheShavingofOccam123: It suggests an end to the steadily rising incomes and living standards since World War Two.

Well, what a cowinkydinky. The generation that made a deal with big business and fought a terrible global war with the understanding that they would have education, fair housing and decent wages after the war is dying out. And the deal they struck is dying out too.

Back to the good old days of fascism and transferring as much wealth from the poor to the rich as possible. Nothing is out of bounds.

You want to watch the same bowl games your grandfather watched on his TV? Buy cable and maybe another tier.


Because the poor never make poor decisions or life choices and are physically blocked from succeeding in life.

This is a country where a fatherless Kenyan boy can be elected to the Senate and six months later is nominated to run for President.

/it was all downhill after that.
 
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