Posted on 01/22/2013 11:01:18 AM PST by blam
The Worldwide Demographic Cliff Is Going To Be Brutal
The Economist
Jan. 22, 2013, 8:56 AM
THE post-war generation of baby boomers - those born between 1946 and 1964 - have had a huge appetite on the world, creating "youth culture", changing social attitudes from the sixties onwards, boosting economic growth as they entered the workforce and so on. Now they are starting to retire and this blog had banged on about the effect this will have on issues like pensions, asset markets and economic growth. not to worry, say some folk, since although we may have more elderly to look after, we will have fewer children.
Alas, that won't help, as this graph compiled by statistician Simon Hedlin shows. The total dependency ratio (children and retirees, compared with those of working age) fell in all G20/OECD nations bar Germany and Sweden between 1960 and 2010. In the next fifty years, it will rise in all those nations, bar India and South Africa. In most nations, the ratio will rise by 40% or more; there are huge increases in dependency in parts of Asia (China and South Korea) and in eastern Europe. Britain and America are towards the bottom of the table, but their problems are big enough.
There are many implications. With more dependents to care for, it is very hard to imagine how we will pay down our debts. And it is also very hard to imagine how one can possibly expect government spending to shrink significantly.
(Excerpt) Read more at businessinsider.com ...
“I note you haven’t commented upon this behavior.”
Is the problem their age or their behaviour?
“I suspect that’s because it’s normal to you.”
Well, then, provide your evidence that would be the case. :)
“So you’re teaching and running a side business of seven years, knocking down $12,000 a year, and have the gall to give pointers to anyone else?”
Well, let’s see. I have zero debt, own my own car. Paid off my student loans, got an education etc. Sure I don’t make a lot of money right now but I know how to make it work for me.
If you want good employees - you’re going to have to meet one of their needs - job security, career advancement or pay. It seems to me that your business, since you’ve said you have an issue with ‘these people’, isn’t paying enough, or isn’t doing their job with HR.
You’re admittedly in no position to have a clue yet you continue. Better hope your substitute teacher gig pans out because customers will not put up with it.
I see. So you have no evidence to back up your contention that I exhibit these behaviors. So I guess we are done with that.
I ask again, “is the issue their age or their behavior?”
I suspect you whined here, hoping to get sympathy for a business that you yourself has admitted is failing. What, you don’t think your employees smell it too?
Reading comprehension is beyond your ken too, I see.
So, apparently is profit.
I make money. - isn’t that the whole point of running a business?
Yes, upon that we can all agree. Profit is beyond your ken.
I make money.
No, you don't. By your own admission you're "making" around $5.77 an hour between sustitute teaching and whatever it is you're calling a "business" on the side. Who pays for the roof over your head? Unless you're living under a bridge and posting from the public library, you're already in the hole right there.
- isn’t that the whole point of running a business?
Bless your heart.
“No, you don’t.”
Yes, I do. I make more every month than I spend. That is profit.
“Who pays for the roof over your head?”
I pay 500 a month for a room in an apartment, utilities included. Costs are gas + food. On 1k a month - that leaves me around 2, 300 a month to save. Been doing this for 3 years now. It adds up.
If my expenses are roughly 700 a month and I make 1k a month - I’m doing better than someone who makes 100k a month but spends 105k.
This is simple math. You can make more by working more, or make more by spending less.
What is saving me is the fact that I am debtless - thanks to keeping my spending low and hammering away at my student loans. I bought a used car with my savings, so now I don’t have any car payments, and I don’t have to pay for a bus ticket and pass.
“By your own admission you’re “making” around $5.77 an hour.”
It adds up. Who’s going to fire me? Nobody. Would you rather make 20 dollars an hour working for someone else or 5.77 working for yourself?
I could be making 20/hour but then my livelihood is dependent on my employer. If he makes bad decisions, and the business goes belly up - then so do I - and I’m out of work.
5.77 adds up, everyday, when I get out of bed. I’m never out of work - there’s always something to do for somebody needing something. I can choose whom I want to work for. I can choose when. If I want to work at 4am in the morning - I can work at 4am in the morning. I can work around the clock and go and take time off.
Is it worth it to me to go Galt and work as much as I need? Absolutely. I have more time to do the things I enjoy and the things that are worthwhile. And best of all - I’m covering my own bills. I don’t own anything to anybody anywhere.
And this is a bad thing?
Our future? Let’s look at who brought us to that future.
Almost 70% of the Senate and House of Representatives are in their 50’s and 60’s.
And our last 3 presidents have all been baby boomers. So who took us to 17 trillion dollars in debt?
That’s right, the selfish generation.
Baby boomers have the power to change our future, but are unwilling to do so.
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