Get control of this thing as soon as you can kids. Before the Baby Boomers can do even more damage, and spend even more of your money on themselves.
Tuesday was a good first step. Keep it going. Storm into office. Take this country now.
November 9, 2008
S&A would like to salute the kids for showing up to vote last week. Your parents and grandparents f*cked it all up, and it'll be yours soon.
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I was listening to a UAW rep today talking about the need for billions of government money to pay health care costs of retirees. He mentioned the "two-tier" system they have for paying employees. I assume this means that older employees live like royalty and the younger folks scrub their boots for a lifetime?
No wonder today's youth have a shorter life expectancy than their parents. Nothing like eating your young. . . .
Um, Keith, before you get ahead of yourself with arrogantly "reinventing America after the crash" and all that you might want to read about Iceland and what a real crash looks like:
Stunned Icelanders Struggle
The point is - we haven't had a freaking crash yet buddy. And no O.B.A.M.A is going to save us. Even if O.B.A.M.A was the Paragon of Virtue and Hope and Change that you mistakenly believe him to be.
Not to get all 'HP' on everyone, but these attempts to prop up house and condo prices are consistent with the entitlement promises the boomers have made to themselves.
Who did the boomers expect to pay these inflated house prices? That's right, the same people they expect to pay for their social security, medicare and medicaid: the next generation.
Boomers will argue that they earned these entitlements, they paid into these programs and all they are asking for is to get back what they paid. The problem with that argument is that the government never saved boomer contributions; the government spent boomer contributions on, guess who, boomers.
While many boomers neither endorsed nor supported this irresponsible behaviour, in general, the boomer generation is utterly selfish, gutless, arrogant and clueless. It is this boomer generation of idiots who has indebted the next with bailout after failed bailout for fear of going through the hardship necessary to recover from the bubble they created.
Talk about assholes.
Got any more of that Hope-flavored Kool-Aid for me, Kweefer?
Emanuel Was Director Of Freddie Mac During Scandal
New Obama Chief of Staff, Others on Board, Missed "Red Flags" of Alleged Fraud Scheme
ABC News By BRIAN ROSS and RHONDA SCHWARTZNovember 7, 2008
President-elect Barack Obama's newly appointed chief of staff, Rahm Emanuel, served on the board of directors of the federal mortgage firm Freddie Mac at a time when scandal was brewing at the troubled agency and the board failed to spot "red flags," according to government reports reviewed by ABCNews.com.
According to a complaint later filed by the Securities and Exchange Commission, Freddie Mac, known formally as the Federal Home Loan Mortgage Corporation, misreported profits by billions of dollars in order to deceive investors between the years 2000 and 2002. ......Freddie Mac agreed to pay a $50 million penalty in 2007 to settle the SEC complaint and four top executives of the Federal Home Loan Mortgage Corporation were charged with negligent conduct and, like the company, agreed to settle the case without admitting or denying the allegations.
Oh yeeeaah!! That's some "Change We Can Believe In".
So Obama recruits one of the most despicable characters in American politics as his chief of staff. A guy that is a dual Israeli citizen, a guy that served with the Israeli Defense Force, a guy whose father was an Israeli terrorist and a guy that served on the board of Fannie and "missed the signals" of the housing bubble.
Yeeeeah!!! Good job Kweeferoni!! You really picked a winning horse there!! I bet you really feel proud of yourself. I don't expect to ever hear an admission that you made a mistake however. There's too much pride and ego floating around here these days...
That video is from a song first released in 1981 or 1982. What kids exactly are we talking about here?
Before moving forward planning the after crash, which defiantly is not over yet, we should understand why we ended up with such a mess of unknown magnitude.
The pain that this mess will produce is very real and no government decision can eliminate that pain. Government can postpone the pain, reduce it to some extent or increase it by many factors.
It is if all of us are blind to the fact that over consumption cannot be cured with more consumption. I have no other explanation to the $0.7T shame.
Over consumption is bad. It is taking from others just for your own pleasure. Making a habit out of this behavior is distractive.
Under consumption and saving is good. It is giving to others in case they need help. And any of us might be on the receiving side at some point in time.
So who is to blame here?
No, it is not the realtors, mortgage brokers, investment bankers, appraisals, and rating agents. It is not even because of David, Ben and Alan. It is because all of us humans. We could have said no thanks – but we didn’t. We ate too much and now we are sick. And we ate everyone's else stuff and now they are sick too – sick of us.
We should devalue over consumption status symbols like we did to cigarette smoking and fur coats.
And no it is not socialism. Socialism is taking from the rich and sharing the wealth. We must maintain free enterprise and capitalism. We don’t need any new laws. If giving will be valued by society instead of consumption, the rich will compete on giving. The values society dictates the individuals’ behavior. Dig inside and ask yourself – why did I buy that Lexus?
Once this is understood and practiced by the vast majority we will be able to move on. Until then, we are stuck with this Bulimia nervosa and more and more pain.
Yeah, I thought of going with some Papa Roach or some Ne-Yo, but damn you can't beat "Kids in America" to get my point across, can you?
Give me a better song and I'll think about it
I do not agree with the fact that
Politicians touched any entitlement money that was earmarked for Social Security ,but all generations benefited from what some of the money was spent on .
Boomers were also told to put money into 401k's for years to fund retirement ,yet a bunch of them just lost their ass in the stock market because of that investment and they don't have enough time to make it back . The boomer in that circumstance will either have to work longer or the retirement will not be a very high life style.I think they might have to build more trailer parks for
retirees .Boomers certainly are not going to have home equity to fund retirement unless they were prudent and paid off a house . So,gambler type Boomers are screwed regarding the housing market and some who paid cash have lost a lot of cash .
People do not realize that if you have high medical expenses on
medicare ,you end up paying 500 to 700 a month or more . The average medicare couple (with somewhat low medical costs )still pays about 200 a month for medical coverage,plus some co-pays . They have set up the program that if you have higher medical costs (such as expensive drugs or hospital stays etc, more comes out of the pocket of the person on medicare ).In many cases ,if a person has a serious condition or exceeds a certain limit ,the medical profession ends up getting a lot of additional money by the time the person dies . I think after 20 days on medicare the person has to pay 75 dollars a day if they were in the hospital . The basic medicare coverage is more- so for
a couple who take a few medications a month .
While it is true that medicare would benefit a person who had to have a serious costly operation ,for most part, most conditions are treated by medication these days .
Cancer victims sometimes run up higher bills ,but medicare only pays so much for the costly medications they usually take .
So if a senior wants additional coverage or a better pharmacy coverage or hospital stay coverage they have to pay a lot for a supplement policy to cover that or pay out of pocket . Medicare also requires a lot of co-pays for a number of services . So ,don't think that the medicare benefit is a totally free deal for seniors .
I think the real question should be is why are medical costs so high . I see the medical profession taking advantage of seniors by having them come in on standard conditions that they aren't even complaining about .A friend of mind is told to come in every 2 months when that person doesn't even have serious medical conditions and only needs a minor blood pressure medication. The Doctor is racking up those office visits . If a person isn't even complaining about something and doesn't have any symptoms ,why have them come in so much ?
Yet ,I have seen Seniors that do have serious medical conditions suffer serious delays in getting treated ,just because they have to go through hoops to get
approvals .
My point is that medicare is of course better than no coverage at all ,but it is actually more costly if you do have something wrong . Very low income people can apply for additional help ,but of course that only applies to extremely low income .
The health industry is big business and many younger people are making a living off these benefits . I would venture to say that medicare employs a considerable amount of people .
Why aren't Corporations blamed more for outsourcing jobs and taking manufacturing to slave labor countries . The Unions got to demanding also .
Why isn't more blame put on the
greedy market makers of Wall Street that created the real estate Ponzi-Scheme that all generations engaged in .Wall street pulled this same crap in the 1920's and there wasn't even Baby boomers at that time .Big Business is evil if it isn't regulated .
Why isn't more blame put on lobbyist that got their way with the Politicians and created the removal of regulations that would of prevented the get rich quick schemes of the last8 years ?
Currently young people do not have as good a job market that the Baby Boomers got . This is the evil that I would like to see changed by any means . Baby boomers as well as the middle class were able to thrive more with wages that use to keep up with inflation .It is the Corporations that are taking away benefits from the young people . The Corporations went to the opposite extreme in the last 10 to 15 years and got greedy and turned their backs on the American workers in response to Unions that got to demanding . America needs fair wage jobs from Corporations that do not break the backs of the Corporations and prevent profit .
At the same time this Country needs to solve the problem of jobs being affected in America because of World-wide slave labor competition that has become a monopoly in America . No America Company can compete with Countries that pay 75 cents a hour for labor in manufacturing . No American Company can afford to pay 80 percent of the prior working wage from 55 onward for a retiree .
The retirement benefits need to be lower ,or tiered to real profit ,but now Corporations don't want to give anything to new workers . No wonder the young people are pissed .
Baby boomers did pay in for the benefit of Social Security . I seriously doubt that anyone could really live on that benefit . WHen they originally designed Social Security ,they thought that the person would live for 3 to 5 years after they retired . People are living a lot longer ,including the Depression era retirees ,so the Social Security needs to be changed for that reason alone . The only thing I can think of is to start moving up the age that a person can start collecting the benefits . At the same time if Corporations want to let go of workers at 65 ,yet they can't start benefits until 70 ,than the needy will starve for the 5 years .
You just can't have the American system if you screw any of the generations, in my opinion. Corporations will fail if they just take all the money and don't give to the workers also . Who in the hell is going to buy their products if the American worker doesn't have fair wages that keep up with inflation ? Did the Corporations really think that emerging World markets would be their buyers of products? Maybe so, maybe this is what the Corporation plan was . A big part of the China plan was selling crap to Americans .How can you have Global markets when you have price differences that would make it impossible to do anything but fall to the level of the lower labor cost Countries ? I think the problem was created by the Corporations in response to Unions and entitlements getting just to demanding and now the Corporations are going in the opposite direction and don't give a damn about the American worker anymore because of a World labor market .Wouldn't you hire someone for 75 cents a hour instead of paying 15 dollars a hour and have to provide medical insurance and some retirement benefits ? This whole situation has gotten out of control .
In other words ,throwing Baby Boomers out on the streets is not going to solve the problem for new workers that need fair paying jobs from Corporations .
In response to riz......
I like your thoughts and they have
a lot of merit . I would also like to add that if a Society uplifts themselves and it makes it possible for every member of the society to get more (without a cost to the
earth or future supply for new generations ),than nothing is wrong with people getting more creature comforts ...is there ?
What do people work for but to improve their lives . We can't go backwards and spent 5 hours a day trying to fetch water like humans did in the past .
The free time for entertainment
in modern times is something that is a good thing ,isn't it ?
I'm not saying that humans only purpose in life should be for consumption ,but humans don't do more noble things unless their basis needs are satisfied .
I'm not saying that people should spend money that they don't have, or go into debt in order to be able to consume either .
I'm just saying that in proper balance ,consumption of what the World has to offer can be very enjoyable for humans . Lets face it ,consumption creates jobs . People providing products for each other creates jobs and than more people get to consume and hopefully uplift their lives .
I'm not talking about being greedy ,I'm not talking about people who consume and they are not really even enjoying it ,and I'm not talking about people that are just addicted to some consumption of some product or drug. In proper balance ,consumption is enjoyable .Reading a good book is a consumption act . Having a expensive dinner out is a consumption act .
Should everyone be like a monk and just pray to their navel all day ?
I'm not suggesting that a person be a shallow person or not do anything for their fellow man or women . The advertisers have been brainwashing people for years in convincing people that they need or want something . I happen to like a flat screen TV because it doesn't take up as much space and I enjoy watching some TV. I don't over-do it . One time I went 15 years without looking at TV much because I was reading books a lot .
I also think that the internet can be a enjoyable consumption .
Is it bad that humans have more recreation time ?
In theory ,humans could end all hunger in the world ,if they put their minds to that noble goal .Humans could come up with a energy source that would make it possible to change the World
again .
Regarding the price of real estate
during the boom years ,people were just not getting value for the
dollar for that inflated asset, in the final analysis . Its doesn't mean that real estate isn't good or something that people don't want or won't want in the future .
I just don't think that depriving ones self should be taken on just for the sake of doing it . If your doing it to reach a goal that is one thing ,but as a long term life style most people get tired of it .
I don't have to buy my kids presents for their Birthdays ,but they really enjoyed it and I will continue to do it . I like to have Thanksgiving dinner also ,in spite of it being a consumption act.
I am also saying that you need to watch out for people who would like for you to give up things because they want to take it for themselves . Lazy people love to con productive people into giving them things that they don't want to get for themselves .
If you give people a system in which they have choices in which they can get ahead and choose what they want , or not get ahead if they choose that ,its better than any forced system or dictated values ,or brain-washing system of control over people .
I feel that people were brainwashed into the housing scheme and now the house has become a debt trap that is destroying their lives because the price was to high for what they were really getting .The speculators didn't want shelter for God Sakes .
I'm saying don't throw the baby out with the bathwater regarding consumption .
These boomers were the same hippie free love imposters from the 60's. Their ideals and beliefs were all sold off long ago for track homes and BMWs. May they eat cat food in their retirement...they wholeheartedly earned that right. I will vote to bury them since they have tried to enslave the next generation into entitlement hell. Good thing this happened when it did...now I have time to revolt...they have nothing now.
New Obama Chief of Staff, Others on Board, Missed "Red Flags" of Alleged Fraud Scheme
----------------------------------
and watch obama push for mozillo to head the department of housing? oh, how about the former ceo of lehman to head treasury.....
so much for change.
My niece, a 22-year-old college student, voted for McCain (yes, we live in a rabidly red state, but I did try to talk some reason to her, to no avail obviously). And her 23-year old boyfriend (from New York) also voted for McCain. My other niece who is 20 shrugged and said she wasn't really interested in the election. So unfortunately the kids closest to me were not as enlightened as a lot of their peers. I have to blame their parents and grandparents (all of whom are anti-Obama) for most of it. I did try to shine some light in there, but I guess I wasn't very effective.
There is nothing wrong with comfort. We are designed to seek comfort and avoid pain, and there is absolutely nothing we can do to change that. Still, we are capable of overcoming the desire for immediate pleasure if we can realize negative consequences. We don’t need to go pre-historic. Technology is not bad. Even F150 is not bad if it is being used for the right purpose. As you said our comfort should be in balance with nature and with others.
There is no rule against having fun. Having fun with friends is incomparable to having fun alone. But how often we spend time with friends? It doesn’t take much to have the greatest time with friends. We can do better without competing with our friends and neighbors on silly consumption.
The issue is that we cannot fight it effectively as long as this is the way we are measured by. People have no choice but to seek fulfilling society values what ever they are. If everyone will wear orange as of tomorrow – so will you. All we need is new values.
There is no problem identifying the lazy people and avoid rewarding them – you know the lazy people in your family – right?
There is not enough room to answer all your questions according Keith policy but if you are interested continuing the discussion – let me know.
I don't really think the average Baby Boomer is aware of what is really going on . Baby Boomers can be brain-washed also . I didn't know that younger people were being
given less benefits by Corporations until I started reading this blog .
Some of you guys are acting like Baby Boomers on purpose sought to deprive future generations .
A lot of Baby Boomers just lost a lot of money in the stock market and a lot of Baby Boomers have lost a lot of money on their real estate investments also .
What percentage of the Baby Boomers are really going to be flush with money in retirement ,
especially now with all the
losses? Sure ,you got some Baby Boomers that have a lot of money
but in many cases it took years to get it .
The question is really are older peoples medical costs such a burden on Society that they should be discarded and be only something that rich people get? Maybe socialized medicine for everyone is the answer . I really don't know the answer.
Are government authorities some day going to decide who gets cut off from medical and decide what age a person is cut off to die ?
It seemed like a good thing that medical science was prolonging lives and curing diseases .
So, I guess the younger people will get rid of the Baby Boomers ,but when they reach a older age they than will change the law to make sure they are not denied medical treatments .Just because people look old doesn't mean they still aren't humans and don't feel things or enjoy life .
I have never heard that today's youth has a shorter life expectancy and everything I have read has said that the life expectancies are increasing.Does the anonymous poster have a link for that fact that they
stated ?
Heard a joke the other day.
The White House New Press Cord issued an security alert.
Someone was trying to hop the fence to the White House.
When the White House Security force arrive at the fence one of the guard said please come down from the fence Mr Bush you still got two more months left at the Presidency.
Ooooh I'm glad that I'm not the only one with disdain for the spoiled baby boomers. What a bunch of hippies turned entitlement monsters. And yes, I'm talking about my parents too. Clueless. Seriously.
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