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In Hard Economy for All Ages, Older Isn’t Better ... It’s Brutal

Young graduates are in debt, out of work and on their parents’ couches. People in their 30s and 40s can’t afford to buy homes or have children. Retirees are earning near-zero interest on their savings.

In the current listless economy, every generation has a claim to having been most injured. But the Labor Department’s latest jobs snapshot and other recent data reports present a strong case for crowning baby boomers as the greatest victims of the recession and its grim aftermath.

These Americans in their 50s and early 60s — those near retirement age who do not yet have access to Medicare and Social Security — have lost the most earnings power of any age group, with their household incomes 10 percent below what they made when the recovery began three years ago, according to Sentier Research, a data analysis company.

http://www.nytimes.com/2013/02/03/business/americans-closest...



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i have no sympathy for them

for the most part they didn't support Ron Paul

it's their fault that we're in this mess, by their voting record. and if they were in the stock market for very long they reaped benefits from our country's disgusting monetary policy.

whoops

looks like jtstellar already said most of this

not all boomers had it 'up'--LOL!

But I believe that it is important to realize that everyone is at a disadvantage in today's economy.

I don't think it helps to point fingers at anyone--

I might be a boomer who is living in the poverty bracket, but my adult children are struggling, too--

and my grandchildren?

Well, yes, I am quite worried about them.

My WWII generation parents had a financial collapse, due to illness, etc.--

so they never had the big money many of their peers had.

I think it's a good thing. I think it's good to have less and learn to live simply--

I know it's not 'ideal', but it does help a person keep his/her priorities straight--

family, health (if you can get it without medicine--LOL!), and a spiritual life--

which includes liberty--

it's hard to be awake; it's easier to dream--

a research done by babyboomers find themselves the greatest

victim?

there's also a difference of 'how'. youth today is a way straight down, boomers had it 'up' then 'down'

not to mention the responsibility aspect, boomers were the ones voting for the whole 'down' part along the way, can't blame their parents since they are deceased

You know all that transfer of wealth

That happens with government programs? What generation has received more from that transfer of wealth than the boomers?

bump

but some times you just need one idea -- put it to work and you are a self made rich guy.

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