Monday, October 3, 2011

50% of Today's Younger Adults have Zero Wealth


There are different programs available on 90.5 on the FM radio dial than there used to be. Sometimes when we listen to WBUR in Chicago's On Point we desire only to choke everybody equally, but today the NPR program was particularly on point.

Today's piece is the aptly titled A Lost Generation? [question mark]

Starring Andrew Sum, professor of economics and director of the Center for Labor Market Studies at Northeastern University, plus three other voices which taken together weren't half bad.

THOUGHTS: If we assume the kind of strong national stimulus targeted toward younger demographics that he suggests towards the very end will not happen -- and let's -- what happens next?

23 comments:

  1. "Occupy Wall Street", Protests...

    Geeeezzz? Biggest Wall Street Icons are Social Media Hucksters?

    Amazon, Facebook, Apple, Google...

    WTF?

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  2. Offline, someone asked if my Union and Veterens were moving to support 'Occupy Wall Street' protests....

    I am not, nor have I ever been, a member of SEIU. As a Veteran I support NYPD...

    Idiots come in all shapes... I suppose, I'm a square?

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  3. Protests spell doom for Obama... Arab Spring?

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  4. Mr. Monk, are you or are you not a card-carrying member of the -- what union are you again? Boilermakers? Teamsters? AFTRA?

    I don't think the "occupants" and the NYPD are on opposite sides of any issue. Well, except for the question of, "May I stand here?", but not on anything else.

    I also didn't intend this as an #Occupywhatever post, but I suppose the mind wanders there.

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  5. And is it written into your contract, you get to spam my blog all day?

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  6. Opinion contrary to yours'... is spam? Bram...

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  7. 'Occupy Wall Street' protest is spam? Wall Street Variety!

    NYPD, pales in comparison, to Comet Blog and free speach limitations! I'll take my chances with NYPD....

    "The Court of Public Opinion"

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  8. Just busting your chops like you taught me about the "spam" thing. I haven't deleted you for comment policy violations yet today ... maybe not for 48, 72 hours!

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  9. What happens next if the greedheads, warmongers, bigots, and other right-wingers push too hard at the expense of young people? Let's hope it is another round of the '60s . . . if nothing else, we could use some good music.

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  10. I always knew should government be challenged: Troops..will fire on command. Obama has placed Republic on thin ice.... Don't read to much into situation...

    Obama has pissed on us as Nation. Gay Rights, same sex marriage and an under-eployed black population that yeilds to "undocumented aliens". Obama and "Occupy Wall Street", Agenda.... will be his undoing? GOP: Herman Cain...

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  11. I'm like, cool, 12 comments, this should be a good thread, then I'm like, dang, it's just monk, what a rip off.

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  12. Here's something to entice everybody: I think I might be wrong about the headline statistic.

    I think it might have been, 50% of all college educated younger adults (age 17-29) possess zero wealth. It was towards the end of the 44 minute show. Haven't made it all the way through a second time.

    The "large average decline for younger adults incomes than the Great Depression" tidbit was considerably earlier in the program

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  13. So I should mug people at CCAC not Pitt?

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  14. Of course 50% of college-educated young adults have zero wealth in that age bracket. It's called college loans in excess of assets, etc. Duh? What genious thought this was newsworthy?

    The real shame is that many older people have little or no wealth and were forced into paying SS when, if they had been able to pay into their OWN account, would have some or a lot of wealth.

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  15. Oh, and I get a kick out of Monk. I can only pray he isn't posting sober.. 'cuz if he is... ouch. Me? I post between trips to the 'fridge for another cold one.

    Go, Monk!

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  16. Because people who have not saved anything would have saved enough to retire on if they had an extra 6%? And done well enough to come close to $1,100 a month or whatever it is? That's not beer you've got.

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  17. The other day I realized that if the music of my youth is now "classic rock" the classic rock of my youth is now whatever Lawrence Welk was in 1985.

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  18. You mean, Huge in Pittsburgh. To this day, Just Ducky Tours point out that Lawrence Welk proposed to his wife at the [now Omni] William Penn Hotel. And then if there was a red light, yak about the bubble machine. I suppose these days they could reference Fred Armisan.

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  19. I know a guy who drives one of those. I should ask him if they plan to update cultural touchstones.

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  20. I see the socialist member of council from
    the South Hills/Pgh Comrade Rudiak is a Facebook
    member of OCCUPY PGH! Also local dunce John McIntire!
    The rest if the cast we all know from the G20
    vandalism spree!

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