October 7, 2012
HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): 2012′s Sure Losers—Young People: “Hi, I’m Marty and I’ll be your waiter for the next 40 years.” “What these numbers show is a process of political disconnection among under-30s. And why not? This is the bitter fruit of a reality familiar across low-growth Western Europe: Youth unemployment is breeding youth disengagement. Over the past four years, the unemployment rate for Americans age 16 to 24 has been twice the rate for the general population. Currently it’s about 17%. For young blacks it’s 28%. . . . Western Europe is about a decade ahead of the U.S. in showing the path downward once a low economic-growth rate gets locked in, as may be happening here. Where we could be headed politically was suggested by a small but telling story this week from France, where chronically high youth unemployment sits at about 22%.”
Redistribution always ends this way.