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Dr. Helen

A Different Economy for College Grads

May 5th, 2013 - 7:18 am

Over at Zero Hedge, Charles Hugh Smith has a good description of the different economy for current college grads. Instead of blaming the baby boomers for the current financial crisis, he says:

Many of those Boomers clinging to jobs are doing so to support you. Yes, it’s a fine irony, isn’t it? If you got a decent full-time job, Mom and Dad could stop sending you money for rent, gas, etc. But since millions of Boomers have to keep their jobs to be able to support their unemployed offspring, there are fewer openings than there would be if Boomer Mom and Dad could quit and retire.

And free-lancing seems to be the wave of the future:

There are opportunities, but they require a deep understanding of risk and security. A livelihood with day-to-day low-level insecurity and volatility is actually far more stable and secure than the cartel-state one that claims to be guaranteed.

Well, perhaps that means that blogging is as good a career at this point as any! Volatile and insecure is as good as it gets in this field.

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All Comments   (11)
All Comments   (11)
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News Flash: "Boomer" is not a synonym for "Over 65".

Do the finger arithmetic. To be over 65 years old this year one would have been born in 1948 or earlier.

The Baby Boom (as the US Census Bureau calls it) of rising birth rates ran from 1946 to 1964, the latter being the peak year. Only a trickle of Boomers have reached the magic number of 65, almost all Boomers are still working because we haven't reached retirement age yet. As Gen-Xers used to say, "Duh!"
49 weeks ago
49 weeks ago Link To Comment
Hey, you will never get a decent job under obama, but you have free birth control pills now (or at least you do if you have insurance), and you can leech off your parents insurance policy (if they have insurance), until you are 26. That makes your vote for Obama worth it, right.
49 weeks ago
49 weeks ago Link To Comment
Given unlimited power I could have the economy generating enough jobs that every able bodied man, woman, and snot nosed teenager who wanted a job could have one.

Never happen though. It would involve ceasing all federal grants and subsidies for ethanol, electric cars, windmills, solar panels, and all other overpriced and underperforming green energy crapola. It would involve cutting the corporate profits tax in half, but at the same time simplifying the tax code to the point GE would file on a post card and pay their "fair share". It would involve cutting the size and scope of EPA in half, getting rid of 1 in every 3 non-military federal employees, and demanding accountability. Anyone caught using the current way of budgeting in the federal gubmint would be immediately sentenced to death by firing squad.

A fairy tale but it doesn't hurt to dream.
49 weeks ago
49 weeks ago Link To Comment
You hold "unlimited power" in too high esteem, OldSchoolConservative. There are some things even God can't do and 100% full employment may be one of them. Even before the Fall, there was a serpent in the Garden who had some excess free time on her hands.
49 weeks ago
49 weeks ago Link To Comment
Mom and Pop don't have to quit their jobs. There are millions of jobs available in manufacturing -- if we brought our factories home from China, Indonesia, Mexico, etc.

But that would mean changing the economic environment so that goods produced at 3rd-world wage rates wouldn't undercut our own production. (Read: TARIFFS.) So that won't happen.
49 weeks ago
49 weeks ago Link To Comment
"OUR factories", LgeUbs?

You've got a Coveting Thy Neighbor's Goods problem there, bub.
49 weeks ago
49 weeks ago Link To Comment
Or we could just cut the insane amount of idiotic regulations we have in this country and then it would be price competitive to build things in the US rather than shipping them across the ocean even with the wage disparity.

49 weeks ago
49 weeks ago Link To Comment
Obama: Kids, you f*cked up, you trusted us.
49 weeks ago
49 weeks ago Link To Comment
Boomers aren't going to retire while they are getting sub 1% on CDs and sub 2% on treasuries. They can't afford to even if they have no debt and a bit of a nest egg. Never mind the need to support their children.
49 weeks ago
49 weeks ago Link To Comment
This is the same conundrum created by having a huge female workforce. When you effectively double the pool of available workers by adding women to the workforce, you drive demand for, and wages of workers down. If all married women in the USA quit work tomorrow, wages would be driven up enough to allow them to be at home to care for their kids, but this kind of cooperative action is as elusive as getting a cooperative economy to work. Thus, the cat is out of the bag, and we're stuck with it. I chalk it up to W#oodrow Wilson getting us into WWI. If we'd stayed out, no WWII, no Rosie the Riveter.
49 weeks ago
49 weeks ago Link To Comment
"History, my boy, history." exclaims the old curmudgeon. "What history?" he replies.
"The history of the ages. Volatility and insecurity are the historic norm. Just ask farmers; who were about 90% of the world until 1900 or so."
"So" Asks the 35 year old boy, "What's the point."
"Similar to the looking down the barrel of a gun, volatility and insecurity focus the mind. Not a lot of time left for foolishness when chasing down, sometimes literally, your next meal. Overalls and a pair of work boots become prized possessions."
50 weeks ago
50 weeks ago Link To Comment
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