Baby Boomers didnt left the economy in better shape

[Cheese]

^^^ You forgot to mention 2 major economic crashes...mid 80s where a lot of people lost their homes and businesses because of that interest rate, and the early 90s when most of those people were shuffled into purgatory because computers took their jobs away.

/edit re education...comparative to the USA Canadians are FAR cheaper for costs of education and healthcare. /another topic

[nik-]

Originally Posted by Enoch Root

50% of Canadians have a university education so that would suggest it isn't that expensive. Also, it is cheaper now in current dollars than it was in the 60s and 70s (and many, many more people are attending)

I'd like to see where you've found this information, because I can't find a study which shows cost of education compared to consumer price index. As far as more people going, well, they have to because a University Degree is a requirement.

In terms of housing, the cost comparison to your days and now isn't even close.

As for economic crashes. 2008.

[saskflames69]

Originally Posted by Enoch Root

50% of Canadians have a university education so that would suggest it isn't that expensive. Also, it is cheaper now in current dollars than it was in the 60s and 70s (and many, many more people are attending)

How can you be so sure about that?

http://www.bloomberg.com/news/2012-0...f-the-day.html

http://news.nationalpost.com/2012/09...and-inflation/

[MarchHare]

Originally Posted by Enoch Root

50% of Canadians have a university education so that would suggest it isn't that expensive.

Where did you get that number from? According to Statscan, only 25% of Canadians aged 25-64 have a university degree (2007 data). Source: http://www.statcan.gc.ca/daily-quoti...0908b1-eng.htm

Also, it is cheaper now in current dollars than it was in the 60s and 70s

[Citation needed]

At one point in the 70s, a new mortgage was over 20% - try that on for size.

But how much did a typical starter home cost back then? And how have housing prices compared to the rate of inflation over the last 30 years?

[saskflames69]

Originally Posted by Cheese

^^^ You forgot to mention 2 major economic crashes...mid 80s where a lot of people lost their homes and businesses because of that interest rate, and the early 90s when most of those people were shuffled into purgatory because computers took their jobs away.

You do realize that the Great Recession of 2008-09 was the worst the world has seen since the Great Depression? Those minor economic blips in the 80's/90's are nothing compared to what was and still is affecting millions of people around the world.

[Red]

Originally Posted by nik-

I'd like to see where you've found this information, because I can't find a study which shows cost of education compared to consumer price index. As far as more people going, well, they have to because a University Degree is a requirement.

In terms of housing, the cost comparison to your days and now isn't even close.

As for economic crashes. 2008.

Here we go again, looking a for a boomer to hold your hand.

I love your enthusiasm and how quickly you jumped on this (disproving a boomer), but it looks like you were too lazy and inefficient to find the info yourself. I guess "googling" didn't work? Maybe you should try a library, like the boomers did.

As for the 2008 crash, that hurt boomers more than any other generation. That's their retirement money. All Y-ers worried about in 2008 was their new iPhone and repairs on their 94 Honda Prelude.

Housing is X-er and Y-ers fault. X-ers went nuts upgrading and Y-ers bought when they had no business buying. Boomers didn't have houses at 21. That was the new wave of clients that we didn't have before. Unqualified, spoiled and granite demanding 21 year olds that bought houses with down payments they got from their boomer parents. Just saying.



Just kidding. Signed - gen X-er.

[irrevocable]

I have a cat named Boomer.

[nik-]

I'm a tail end of X, start of Y guy. I'm already over the hurdle that kids have to deal with today, so I don't have a vested interest. I just think that if someone from a Boomer generation thinks that youth today have it easier when it comes to the big things in life ... the large purchases and carving a place in the world, then they're just completely wrong. Wrong, or too focused on the shiny distractions like internet on a phone.

[Phanuthier]

Originally Posted by Red

As for the 2008 crash, that hurt boomers more than any other generation. That's their retirement money. All Y-ers worried about in 2008 was their new iPhone and repairs on their 94 Honda Prelude.

I've mostly avoided this whine fest of Gen X vs Gen Y (congrats Gen X, you are winning) but this definately isn't true. The hardest part of it is if you graduated in 2008-2010, and everyone has a hiring freeze. I saw a lot of very good, smart, hard working kids who came to study in the USA using their family life savings, only go home because their visa expired before they could get a job.

Typical Gen X mentality..... myopic and misinformed.

[Red]

Originally Posted by Phanuthier

I've mostly avoided this whine fest of Gen X vs Gen Y (congrats Gen X, you are winning) but this definately isn't true. The hardest part of it is if you graduated in 2008-2010, and everyone has a hiring freeze. I saw a lot of very good, smart, hard working kids who came to study in the USA using their family life savings, only go home because their visa expired before they could get a job.

Typical Gen X mentality..... myopic and misinformed.

and all that resulted in was what? Live with the parents for another year or two?

How would you feel if HALF your pension was wiped out and you were just about to retire?
Don't see how the Y-ers took it harder. They lost nothing other than an opportunity to get a cushy job. Boomers lost half their life savings.

[Phanuthier]

Originally Posted by Red

and all that resulted in was what? Live with the parents for another year or two?

How would you feel if HALF your pension was wiped out and you were just about to retire?
Don't see how the Y-ers took it harder. They lost nothing other than an opportunity to get a cushy job. Boomers lost half their life savings.

Loss of life savings (so 2x pension?), returned home (versus "living the American dream")..... ? Of my friends that did have to go home, now neither their parents are going to retire anymore... life savings for the family was lost.

Do you not know how to read?

[Phanuthier]

I should mention, 2008 hurt A LOT of people, not just a bunch of whiny minority. Its just you (and sask) seem to whine the loudest because you're too myopic, or unable to understand that many people were hurt. Not just you (despite all your whining)

[Red]

Originally Posted by Phanuthier

Loss of life savings (so 2x pension?), returned home (versus "living the American dream")..... ? Of my friends that did have to go home, now neither their parents are going to retire anymore.

Do you not know how to read?

What life savings? The boomer's life savings that paid for Johnny Gen-Y education? How rough for Johnny...no american dream. Unless you wait 2 years of course, but just like any other Y-er, you must have everything right away.

When I read my first book you were weren't even in your parents plans, so stop being a prick.

[Phanuthier]

Originally Posted by Red

What life savings? The boomer's life savings that paid for Johnny Gen-Y education? How rough for Johnny...no american dream. Unless you wait 2 years of course, but just like any other Y-er, you must have everything right away.

When I read my first book you were weren't even in your parents plans, so stop being a prick.

God, you really don't know how to read

Ok 3rd try, otherwise you are hopeless. When you are on a student visa (especially from an Asian country) you have 90 days to get a job, otherwise your visa expires.

Understand? Again furthur proof... myopic and ignorant. Bad mix.

[CaramonLS]

Originally Posted by Red

and all that resulted in was what? Live with the parents for another year or two?

How would you feel if HALF your pension was wiped out and you were just about to retire?
Don't see how the Y-ers took it harder. They lost nothing other than an opportunity to get a cushy job. Boomers lost half their life savings.

Lol...

I'd also like to mention that a lot of boomers had Defined Benefit pensions, most of which are now being purged from existence with only those boomers being grandfathered into it. We recently had ours purged 4 years ago at the company I work for with the cut off age being 53.

This has become a pretty steady trend with companies recently, axing DBs and moving to DCs only, because of what you mentioned, the stock market crash.

However, the result of this for many boomers is not that they lost all of their retirement savings (not saying it wasn't a big hit), but that the current generation will continue to finance these bloated plans so that boomers can achieve their previously defined benefit - i.e. guaranteed retirement income.

[Red]

Kids these days. Have two of my own and love them to death, but I can't blame anyone for telling them they are morons when they talk "real life". Truth is, the are. It's part of growing up.

Phanuthier and Caramon, you both have interesting points, but you sound very ignorant. You won't know what retirement losses are until you are close. Telling me that your life opportunity is over at 20/21 years old is just a testament to how clueless some youngsters are. When you are 63, you don't have time to start over again. At 20, you have a whole life ahead of you, so don't tell me that your visa ran out. It's nothing compared to losing your life savings at old age. Nothing. And let's NOT bring up a minorities here Phanuthier because if an exchange/foreign student isn't the definition of insignificant minority, I don't know what is.

And Caramon, defined pensions were never the norm. And if you want to talk opportunities, just think internet. Can it get any easier to reach and entire world of possibilities and customers? Don't think so. Don't complain about what you don't have, look at what you do have at your finger tip. Your parents didn't have that.

[Phanuthier]

Originally Posted by Red

Phanuthier and Caramon, you both have interesting points, but you sound very ignorant. You won't know what retirement losses are until you are close. Telling me that your life opportunity is over at 20/21 years old is just a testament to how clueless some youngsters are. When you are 63, you don't have time to start over again. At 20, you have a whole life ahead of you, so don't tell me that your visa ran out. It's nothing compared to losing your life savings at old age. Nothing.

No you are very ignorant.

Do you have any idea how much it costs for someone from India or China to study in the USA?

Granted they don't "have" to live the American dream, sure. But don't tell me its easy and a hiring freeze when you graduate is nothing. Just like I'm not going to tell you working when you are 70 (oh no!) is no big deal..... they both suck. I don't think any generation has it easy. I recognize it sucks for Gen X, who lost their life savings in the stock market, sucks. Difference between us is you are too uninformed, yet choose to stay ignorant to challenges other people face, because you are ignorant to that fact. That is really pathetic.

[missdpuck]

Phan, I remember watching a documentary about 2 guys who were rescued from some really terrible village in Africa. They were brought here, but they still had 90 days to find a job. It was heartbreaking. I wish I could remember what it was called.

To be here, from there, and then have it taken away?

As for internet opportunities-I think that's becoming saturated. Not that there aren't possibilities. You might make it in affiliate marketing if you work 24 hours a day!

Not that it can't be done. The first wave was probably the biggest, and it's gone now.

[Phanuthier]

Originally Posted by missdpuck

Phan, I remember watching a documentary about 2 guys who were rescued from some really terrible village in Africa. They were brought here, but they still had 90 days to find a job. It was heartbreaking. I wish I could remember what it was called.

As for internet opportunities-I think that's becoming saturated. Not that there aren't possibilities. You might make it in affiliate marketing if you work 24 hours a day!

Not that it can't be done. The first wave was probably the biggest, and it's gone now.

Exactly..... lots of different people have different challenges. Whether its opportunities not available due to hiring freeze (economy) or you lost your life savings in the stock market or whatever..... I'm not going to go out on my high horse and tell someone else their generation has it easy, cause thats really stupid. My point is if you don't know what you are talking about..... open your god damn eyes. There are lots of challenges out there..... if you don't know about it, then its your own ignorance that is holding you back.

(PS none of this applies to me..... I actually had it easy...... its just what I have observed, challenges that transcend across all generations..... not every 20 year old is a mind numbing idiot with their head stuck in a iphone playing angry birds like what Red thinks...... )

[Red]

Originally Posted by Phanuthier

No you are very ignorant.

Do you have any idea how much it costs for someone from India or China to study in the USA?

Granted they don't "have" to live the American dream, sure. But don't tell me its easy and a hiring freeze when you graduate is nothing. Just like I'm not going to tell you working when you are 70 (oh no!) is no big deal..... they both suck. I don't think any generation has it easy. I recognize it sucks for Gen X, who lost their life savings in the stock market, sucks. Difference between us is you are too uninformed, yet choose to stay ignorant to challenges other people face, because you are ignorant to that fact. That is really pathetic.

Missing the point. At 20, your have a whole life ahead of you, doesn't matter if it's in China or Canada, You have an opportunity to have a do over. At 63 you are old and tired. You have no luxury of of time and energy to reset and start saving again. Young people complain about having to save for retirement when they are young (see Caramon), try doing that when you are 63 and your savings just got wiped.

Hard to believe that I have to spell it out to you like this. Unreal.