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Why Millennials Can’t Grow Up

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Re: Why Millennials Can’t Grow Up

#81

Post by Swizec »

wambotron wrote: post #76
Swizec wrote: post #24

Earlier quoted context omitted.

Average age is only up because women started child bearing later. About a hundred years ago it was common for men in their very late 20's to have finally built a life of their own and get a bride. A bride who was 16 or so because that meant she still had plenty of child bearing years ahead of her. What if men just got back to that same state, while women have joined men in this status instead of having the whole teen…

Either you have rich grand/great-grandparents or we come from VERY different places. My family has been historically poor up until my dad, who is just middle class now. Both sides of my family have struggled until death. I don't know of anyone other than maybe one or two who had parents growing up that had "built a life of their own," then married and started a family in their very late 20s.

Historically I come from a family of peasants. Especially after WW2 both sides of my family were poor, but there was a period before then that one side was rich farmers.

They were only rich because my great grandfather bought the farm where he used to work as essentially slave labor (they'd only get food and board in return for being manual labourers, it was a thing back then).

But anyway, this age thing was something I read in books about late 19th and very early 20th century.

Re: Why Millennials Can’t Grow Up

#82

Post by javert »

djur wrote: post #66
javert wrote: post #42

Earlier quoted context omitted.

> Your self-interested conservative personal responsibility do it yourself policies bankrupted the economy This is a vicious slander. I mean, clearly the student loan education bubble, Freddie and Fannie-backed mortgage bubble, and the Social Security ponzi scheme were based on policies of "personal responsibility" and "do it yourself." As a successful person who is most likely in the same generation as you, I'm look…

You either don't know what "Social Security" means or you don't know what "ponzi scheme" means.

Are you aware that the US social security system will become insolvent in the future?

It is literally the case that the later taxpayers are paying for earlier taxpayers' social security.

It's not formally a Ponzi scheme, because it's not entered to involuntarily, it is forced.

Re: Why Millennials Can’t Grow Up

#83

Post by djur »

javert wrote: post #82
djur wrote: post #66

Earlier quoted context omitted.

You either don't know what "Social Security" means or you don't know what "ponzi scheme" means.

Are you aware that the US social security system will become insolvent in the future? It is literally the case that the later taxpayers are paying for earlier taxpayers' social security. It's not formally a Ponzi scheme, because it's not entered to involuntarily, it is forced.

Social Security is a pay-as-you-go social insurance program, not a Ponzi scheme. A Ponzi scheme is fraudulent because it promises to pay back a greater return than is invested. Social Security is designed to pay back about the same as was invested on average. The reason this works is that the economy and the population are growing over time, so you have more people paying for the current SS generation's retirement than are in the current SS generation.

Social Security is a defined-benefit entitlement, so its spending requirements are fairly predictable. The rate of growth of the economy and the population, on the other hand, is not so easily predictable. This is why the Social Security trust fund was established in the 80s -- to patch the gaps that would result from the smallish Generation X paying SS for the Baby Boomers.

Depending on how long the Baby Boomers live and how the economy performs over the next few decades, the trust fund may run out in the next few decades. This will require either a cut in benefits or additional revenue for the system. Adjusting the inputs and outputs for a program to keep it in equilibrium in a chaotic, unpredictable world isn't fraudulent or a sign of a broken program.

So no, I'm not aware that Social Security will become insolvent in the future. Any of a number of fairly simple adjustments between now and then would prevent the projected benefit cuts. Even in the absence of a fix, Social Security will still pay out the lion's share of its promised benefits.

Re: Why Millennials Can’t Grow Up

#84

Post by javert »

djur wrote: post #83
javert wrote: post #82

Earlier quoted context omitted.

Are you aware that the US social security system will become insolvent in the future? It is literally the case that the later taxpayers are paying for earlier taxpayers' social security. It's not formally a Ponzi scheme, because it's not entered to involuntarily, it is forced.

Social Security is a pay-as-you-go social insurance program, not a Ponzi scheme. A Ponzi scheme is fraudulent because it promises to pay back a greater return than is invested. Social Security is designed to pay back about the same as was invested on average. The reason this works is that the economy and the population are growing over time, so you have more people paying for the current SS generation's retirement th…

Thanks for the explanation, though it basically confirms the same picture I already had in my mind.

What you call "additional revenue for the system" is actually a government bailout by tax increase (plus inflating the money supply).

It is absolutely fraudulent. It is fraudulent to force me to invest in a fund when I want to invest my money elsewhere because I think I can get a higher return.

It is also fraudulent to force me (as a taxpayer/holder of USD) to bail out such a fund.

I called it a "Ponzi scheme" because of the idea that later "investors" pay for the prior generation of "investors"---which, like a Ponzi scheme, fails (and requires a bailout) when the next generation isn't large enough.

Admittedly, my definition of "fraudulent" above isn't true in a strict accounting sense. AFAIK the books are essential "open." Nobody is being deceived. However, it is someting worse than being deceived. It is knowing the unfortunate truth, but being forced to "invest" (and to "bailout") anyway.

Re: Why Millennials Can’t Grow Up

#85

Post by LetMeListen »

neona wrote: post #53
LetMeListen wrote: post #27

I'm 21, do not have a college degree, work for 7.50hr, and feel exactly like this with the exception that I have to deal with it on my own because I neither have the time or money to spend on therapy. I've learn to deal with things and keep it moving because no one else is going to lend you a hand unless you have something to give in return; that's how I see it anyways.

Similar situation here, my only problem is that while I am able to (barely) sustain myself, depression and similar issues are continuing to stymie what attempts I can make to better my situation. I honestly don't know what I think these days, other than that something needs to change, and I'm starting to wonder if I'm not as much of the problem as I like to tell myself.

Stop thinking that. Think of yourself as the last piece of wonderful on earth and that everyone is here to compliment you, as egotistical as this sound it will boost your morale.

Re: Why Millennials Can’t Grow Up

#87

Post by djur »

javert wrote: post #84
djur wrote: post #83

Earlier quoted context omitted.

Social Security is a pay-as-you-go social insurance program, not a Ponzi scheme. A Ponzi scheme is fraudulent because it promises to pay back a greater return than is invested. Social Security is designed to pay back about the same as was invested on average. The reason this works is that the economy and the population are growing over time, so you have more people paying for the current SS generation's retirement th…

Thanks for the explanation, though it basically confirms the same picture I already had in my mind. What you call "additional revenue for the system" is actually a government bailout by tax increase (plus inflating the money supply). It is absolutely fraudulent. It is fraudulent to force me to invest in a fund when I want to invest my money elsewhere because I think I can get a higher return. It is also fraudulent to…

How is it a "bailout" for the government to adjust the funding of a tax-funded program by adjusting the tax? By that definition, I'm being forced to bail out the military every time they spend tax money to buy a jet fighter.

You are thinking of Social Security as an investment program. It is not. The government is not forcing you to invest in a fund, it is taxing you to pay for other peoples' benefits. Eventually, it will tax other people to pay for your benefits.

The essential quality of fraud is intentional deception. You might not like being taxed for Social Security, but you are not being tricked, gulled, or conned into it.

Re: Why Millennials Can’t Grow Up

#88

Post by javert »

djur wrote: post #87
javert wrote: post #84

Earlier quoted context omitted.

Thanks for the explanation, though it basically confirms the same picture I already had in my mind. What you call "additional revenue for the system" is actually a government bailout by tax increase (plus inflating the money supply). It is absolutely fraudulent. It is fraudulent to force me to invest in a fund when I want to invest my money elsewhere because I think I can get a higher return. It is also fraudulent to…

How is it a "bailout" for the government to adjust the funding of a tax-funded program by adjusting the tax? By that definition, I'm being forced to bail out the military every time they spend tax money to buy a jet fighter. You are thinking of Social Security as an investment program. It is not. The government is not forcing you to invest in a fund, it is taxing you to pay for other peoples' benefits. Eventually, it…

It is a "bailout" because the government originally claimed that Social Security would be a self-sustaining investment system, as far as I understand it. But I'm not dead set on arguing for calling it a "bailout." It is what it is, the terminology here is not that important.

You are right---I am not being conned. Just forced. I will eventually go to a country that better allows me to pursue my values if I can find one.

Re: Why Millennials Can’t Grow Up

#89

Post by jrokisky »

secstate wrote: post #71
jrokisky wrote: post #46

Earlier quoted context omitted.

"you have to compete for everything you want and need to live." I think I'm a special creature. This really depresses me. Do you think this is the ideal situation? I don't understand why this is currently the case. In my opinion there is more than enough to go around, and the majority of our daily problems are caused by other humans.

Woah. That's the problem to a T. You hit it right on the head. You are not a special creature. There are approximately 6 billion other creatures nearly as capable as you trying to make a go of it right now, and a substantially greater number who tried to make a go of it and are now dead. The majority of our daily problems are caused by ourselves, not other people. We think too much about ME and not enough about other…

I agree that "we think too much about ME and not enough about others". I don't understand how "having to compete for everything you want and need to live" will encourage people to care less about themselves and more about others. I think the opposite is true as evidenced by the current state of affairs.

I don't agree that "the majority of our daily problems are caused by ourselves". I think most people's daily problems are the result of more intelligent and selfish people taking advantage of them.

I agree that "taking 30 minutes a day to intentionally improve someone else's day" is great advice and a fantastic investment of your time.

Re: Why Millennials Can’t Grow Up

#90

Post by jrokisky »

wambotron wrote: post #75
jrokisky wrote: post #46

Earlier quoted context omitted.

"you have to compete for everything you want and need to live." I think I'm a special creature. This really depresses me. Do you think this is the ideal situation? I don't understand why this is currently the case. In my opinion there is more than enough to go around, and the majority of our daily problems are caused by other humans.

I don't think anything in life is ideal. That's just not how it works. You have to escape the fairy tale and accept the world as it is. I agree with the other guy who said most problems are caused by ourselves. It's really important to understand that you share this planet with 6 billion other people. Step back and reassess yourself, ensure what you think you need is actually a NEED, and be kind to other folks.

I never suggested that life was ideal. I don't understand how "most problems are caused by ourselves" and "understand that you share this planet with 6 billion other people" can co-exist while there is very high inequality throughout the world. I will not "accept the world as it is".
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