Quotulatiousness

March 23, 2012

Millennial generation not following the script

Filed under: Economics, History, Liberty, USA — Tags: , , , , — Nicholas @ 11:57

They’ve been subjected to more “sharing/caring” and “we are the world” propaganda than any group of youngsters since the Young Pioneers and the Hitler Youth, yet they appear to be shrugging off the programming in double-quick time:

Young Amer­i­cans care less and less about the the en­vi­ron­ment, pol­i­tics, and the world around them in gen­er­al, a study has found; even the idea of seek­ing a mean­ing­ful life is out of fash­ion.

In­stead, mon­ey, im­age and fame are the idols of our time.

“Pop­u­lar views of the mil­len­ni­al genera­t­ion, born in the 1980s and 1990s, as more car­ing, com­mun­ity-oriented and pol­i­tic­ally en­gaged than pre­vi­ous genera­t­ions are largely in­cor­rect, par­tic­u­larly when com­pared to ba­by boomers and Genera­t­ion X at the same age,” said the stu­dy’s lead au­thor, Jean Twenge, a psy­chol­o­gist at San Die­go State Uni­vers­ity and au­thor of the book Genera­t­ion Me. “These da­ta show that re­cent genera­t­ions are less likely to em­brace com­mun­ity mind­ed­ness and are fo­cus­ing more on mon­ey, im­age and fame.”

[. . .]

The wish to save the en­vi­ron­ment, an ar­ea of par­tic­u­lar con­cern to mil­len­ni­als, showed some of the larg­est de­clines, with three times as many mil­len­ni­als as ba­by boomers at the same age say­ing they made no per­son­al ef­fort to help the en­vi­ron­ment. Fif­ty-one per­cent of mil­len­ni­als said they made an ef­fort to cut down on elec­tri­city use to save en­er­gy, com­pared to 68 per­cent of boomers in the 1970s.

[. . .]

In the Amer­i­can Fresh­man sur­vey, the pro­por­tion of stu­dents who said be­ing wealthy was very im­por­tant to them rose from 45 per­cent for ba­by boomers (sur­veyed be­tween 1966 and 1978) to 70 per­cent for Genera­t­ion Xers (sur­veyed be­tween 1979 and 1999) and 75 per­cent for mil­len­ni­als (sur­veyed be­tween 2000 and 2009).

The frac­tion who said it was im­por­tant to keep up to date with pol­i­tics dropped, from 50 per­cent for boomers to 39 per­cent for Genera­t­ion Xers and 35 per­cent for mil­len­ni­als. “Be­com­ing in­volved in pro­grams to clean up the en­vi­ron­ment” fell from 33 per­cent for boomers to 20 per­cent for mil­len­ni­als. “De­vel­op­ing a mean­ing­ful phi­los­o­phy of life” de­creased the most across genera­t­ions, from 73 per­cent for boomers to 45 per­cent for mil­len­ni­als.

December 9, 2011

“An ‘American tradition’ is anything that happened to a baby boomer twice”

Filed under: Humour, Media, Randomness — Tags: , , — Nicholas @ 08:30

Hard to refute the latest xkcd take on Christmas music:

November 14, 2011

Beating up on the Boomer generation

Filed under: Economics, History, Media, USA — Tags: , , , — Nicholas @ 12:03

Walter Russell Mead has a bit of vitriol to spit at the Baby Boomers:

But at the level of public policy and moral leadership, as a generation we have largely failed. The Boomer Progressive Establishment in particular has been a huge disappointment to itself and to the country. The political class slumbered as the entitlement and pension crisis grew to ominous dimensions. Boomer financial leadership was selfish and shortsighted, by and large. Boomer CEOs accelerated the trend toward unlimited greed among corporate elites, and Boomer members of corporate boards sit by and let it happen. Boomer academics created a profoundly dysfunctional system that systemically shovels resources upward from students and adjuncts to overpaid administrators and professors who by and large have not, to say the least, done an outstanding job of transmitting the cultural heritage of the past to future generations. Boomer Hollywood execs created an amoral morass of sludge — and maybe I’m missing something, but nobody spends a lot of time talking about the towering cultural accomplishments of the world historical art geniuses of the Boomer years. Boomer greens enthusiastically bet their movement on the truly idiotic drive for a global carbon treaty; they are now grieving over their failure to make any measurable progress after decades spent and hundreds of millions of dollars thrown away. On the Boomer watch the American family and the American middle class entered major crises; by the time the Boomers have finished with it the health system will be an unaffordable and dysfunctional tangle — perhaps the most complicated, expensive and poorly designed such system in the history of the world.

All of this was done by a generation that never lost its confidence that it was smarter, better educated and more idealistic than its Depression-surviving, World War-winning, segregation-ending, prosperity-building parents. We didn’t need their stinking faith, their stinking morals, or their pathetically conformist codes of moral behavior. We were better than that; after all, we grokked Jefferson Airplane, achieved nirvana on LSD and had a spiritual wealth and sensitivity that our boorish bourgeois forbears could not grasp. They might be doers, builders and achievers — but we Boomers grooved, man, we had sex in the park, we grew our hair long, and we listened to sexy musical lyrics about drugs that those pathetic old losers could not even understand.

What the Boomers as a generation missed (there were, of course and thankfully, many honorable individual exceptions) was the core set of values that every generation must discover to make a successful transition to real adulthood: maturity. Collectively the Boomers continued to follow ideals they associated with youth and individualism: fulfillment and “creativity” rather than endurance and commitment. Boomer spouses dropped families because relationships with spouses or children or mortgage payments no longer “fulfilled” them; Boomer society tolerated the most selfish and immature behavior in its public and cultural leaders out of the classically youthful and immature belief that intolerance and hypocrisy are greater sins than the dereliction of duty. That the greatest and most effective political leader the Baby Boom produced was William Jefferson Clinton tells you all you need to know.

October 11, 2011

What the “Occupy #LOCATION” folks should really be protesting

Filed under: Economics, Liberty, Politics, USA — Tags: , , , , , , — Nicholas @ 12:09

Caroline Baum puts her finger on the real looming crisis that the folks out in all the various Occupy Wall Street/Bay Street/Seattle/Edmonton gatherings should really be agitating about:

Oh, sure, some protesters have posted lists of pie-in-the-sky demands. (The occupywallst.org website insists there is no official list of demands.) One of these includes a $20 minimum wage regardless of employment, tariffs on all imports, trillions of dollars in new spending on alternative energy and infrastructure, and debt forgiveness — all debt “on the entire planet.”

In other words, lots of benefits and no consideration of the cost. You’d think one of these kids — and that’s how they come across — would have taken an economics course along the way. Where do they think the government gets the money for its largesse? Imposing usurious taxes on the top 1 percent of earners won’t yield enough money to provide for the other 99 percent. (One of the protesters’ slogans is, “We are the 99 percent that will no longer tolerate the greed and corruption of the 1 percent.”)

It’s not as if young adults couldn’t find good targets for their anger. If these protesters are looking for something to get exercised about, they might want to wander into Chris McHugh’s Monetary Economics class at Tufts University in Medford, Massachusetts, and learn about “generational economics,” the idea that government is going to stick the younger generation with the bill for supporting the retiring baby boomers. McHugh asked his students to identify grass-roots youth groups that are agitating about this, but all they found were a couple of minor groups that tended to be Tea Party and Ron Paul spinoffs.

Talk about haves and have-nots. The debt burden that the younger generation is staring at almost guarantees it will have a reduced standard of living. After all, if more dollars are directed at keeping Granny alive until age 102, that means fewer dollars for productivity-enhancing investments.

This idea clearly hasn’t resonated with today’s youth.

Maybe that’s because the numbers — tens of trillions of dollars in unfunded Social Security liabilities, for example — are hard to fathom. It’s much easier to vent their anger at bank bailouts and preferential treatment for corporate interests, much of which is justified. They seem to be ignoring Capitol Hill, where the rules are made by our bought-and-paid-for government.

July 29, 2011

Boomer bashing: how the idea evolved

Filed under: Economics, History, Media — Tags: , , , , , , — Nicholas @ 10:20

Frank Furedi looks at the evolution of the “bash the boomers” meme, and how it differs from more traditional generational conflict:

Gone are the days when the baby boomers were perceived as the personification of a relaxed but enlightened 1960s live-and-let-live lifestyle.

This cohort of people, generally defined as those born between 1945 and 1965, are globally pathologised as the source of most forms of economic and environmental distress. Constantly accused of living way beyond their means, the baby boomers are blamed for depriving the young of opportunities for a good life. They are condemned for thoughtlessly destroying the environment through their mindless pursuit of material possessions and wealth, as well as resisting change, hanging on to their power and preventing the younger generations from progressing.

[. . .]

The idea that ‘it’s all their fault’ captures the intense sense of cultivated immaturity of the parent-basher. A sentiment that is usually associated with the intellectual universe of a truculent five-year-old is now embraced in earnest by biologically mature generational warriors. Paul Begala’s Esquire article ‘The Worst Generation’ captures this sense of uncontained resentment. ‘I hate the baby boomer’, he wrote, concluding that ‘they’re the most self-centred, self-seeking, self-interested, self-absorbed, self-indulgent, self-aggrandising generation in American history’.

[. . .]

The guilt-tripping of boomers is underwritten by an unusually philistine interpretation of the way society works. The 18th-century Malthusian obsessions about natural limits has been recycled as a warning to human ambition. From this standpoint, resources are fixed and the consumption of one generation reduces what’s available to the next. Accordingly, the flipside of boomer wealth is the poverty of the generations coming of age today. Catastrophic accounts of how young people have been deprived of opportunities for a comfortable life have fostered a cultural climate where the moral status of the elderly is continually questioned.

[. . .]

One of the most distinctive feature of the denunciation of the baby boomers is that it lacks any hint of a future-oriented idealism. It is principally driven by a sense of resentment against a generation that apparently had a really good time.

Instead of tackling the question of how to create a prosperous future, anti-boomers are more interested in gaining a larger slice of the wealth created in the past. Baby boomer self-indulgence pales into insignificance in comparison to the low horizons of their unambitious critics.

Never has the term ‘rebels without a cause’ had more meaning than today. At least Bazarov’s nihilism was in part motivated by the cause of ridding Russia of its feudal autocracy. Even the Lost Generation of the inter-war period were responding to a very real event that shaped their existence. Today’s anti-boomers are freed from the burden of a cause to fight for. As Tyler Durden remarked in the 1999 film Fight Club: ‘Our generation has had no Great Depression, no Great War’, before adding that ‘our depression is our lives’.

May 13, 2011

QotD: The financial legacy of the Baby Boomers

Filed under: Economics, Quotations — Tags: , , , , , — Nicholas @ 00:05

Greg Mankiw links to a WSJ piece about our negative bequest to our children. It’s a point I’ve made many times myself (and am sometimes accused of bashing the elderly because of this). A good quote from the WSJ piece:

     [R]egardless of how much they have contributed, the hard reality is that the federal government has already spent it. No matter how deserving they are, it is younger generations of workers who have to come up with the money.

It is morally wrong to force young people to make good on false promises made before they were even born. It is an outrage, a scandal, a shame on our society. A society that invests in the old at the expense of (actually, to the large detriment of) the young cannot survive. A caring and kind society cares for the weak and elderly and helpless; a dynamic and just society allows the young to grow and prosper on their own merits. If America is to prosper as a nation, the young must be given room to build families and careers. To build lives, without the onerous, crushing burden of debt run up by their forebears.

Never mind questions of ethics or “fairness”: it’s just math. The numbers do not, cannot, and will not ever even up, no matter what accounting tricks the government uses. Until we fundamentally change how the Big Three entitlement programs (SS, Medicare, Medicaid) work, we will continue to load up our young people with a crippling load of debt they had no hand in accruing.

“Monty”, “A hot cup of DOOM!, no cream, no sugar”, Ace of Spades H.Q., 2011-05-12

April 19, 2011

Things that keep on rising in price … like healthcare costs

Filed under: Cancon, Economics, Government, Health — Tags: , , , — Nicholas @ 00:06

Kevin Libin points out that Michael Ignatieff may have been even more accurate than he himself realized:

The politicians are finally talking about it, but if you listened to what Mr. Ignatieff said during last week’s English-language debate, you might have found yourself feeling a bit depressed. Perhaps because the Liberal leader effectively argued that if Canadians wanted to keep getting decent medical treatment, they were going to have to learn to live without lots of other things.

“This comes down to a moment of choice,” Mr. Ignatieff intoned. Canadians could either vote for personal income tax breaks, planned corporate income tax cuts, new equipment for the Canadian Forces, all promised by the Conservatives, or, he said, “you can support health care.”

To be accurate, he used language that was far more politically loaded (“multi-million dollar expenditure on prisons … big gifts to upper-middle class Canadians”), but his message was the same: affording public health care means sacrificing other possible priorities.

There’s certainly much to suggest he’s got a point.

If our healthcare costs keep rising, unbounded by any kind of cost control, it will either consume the economy, or cause its collapse. And, of course, the large number of soon-to-retire Baby Boomers are about to need much higher health spending as the natural aging process starts taking its inevitable toll. Fun times ahead, folks.

Already, nine out of 10 provinces spend the majority of their own source revenues (which excludes federal transfers) on health care, according to the Fraser Institute’s report “Canada’s Medicare Bubble.” Only Alberta is just barely under 50%; Nova Scotia spends 88%.

With all the good will in the world, the government can’t keep increasing their healthcare spending . . . they’re almost out of money already.

September 28, 2010

Most self-indulgent generation now also most suicidal?

Filed under: Britain, Media, USA — Tags: , , , — Nicholas @ 12:06

Baby Boomers. It’s always about the frickin’ Baby Boomers isn’t it? Even if according to demographers I’m supposed to be one of them, while your prototypical Baby Boomer was indulging in free love, drugs, and all the other 60’s behavioural abberrations, I was in primary school. I have never identified with that group, and I’m often struck by how self-regarding members of that demographic can be.

Well, perhaps after a life of unparalleled opportunity, wealth, leisure, and general wallow-in-it-ness, Baby Boomers are starting to retire . . . and also killing themselves in numbers not seen in previous generations:

“As children, the baby boomers were the healthiest cohort that had ever lived, due to the availability of antibiotics and vaccines,” Idler says. “Chronic conditions could be more of a rude awakening for them in midlife than they were for earlier generations.”

Given the contrast between the Boomers’ passage through life and that experienced by their parents, one might suggest that they simply brace up a bit and get on with it. This might, however, be bad news financially for the following generations who are already saddled with the task of paying for the Boomers’ wastrel stewardship of the global finances, prolonged and luxurious retirements, hip replacements and various other costs and expenses.

It may be, as we look back from a more austere future in which the retirement age has been raised to 85 or so and the elderly — far from guzzling pina coladas on cruise ships whilst simultaneously occupying badly-needed residential property — are compulsorily relocated to robot-staffed retirement homes, that we will regard the Boomers as the jammiest generation ever to have lived. Their apparent propensity to top themselves out of drug-addled foolishness, in a tantrum at the “rude awakening” of middle age, or simply like mindless sheep because they have seen others do so, will be all the more puzzling.

November 27, 2009

Cars for an under-served market: aging boomers

Filed under: Humour — Tags: , — Nicholas @ 12:14

Jim Shea looks at the design innovations needed to serve the new growing market for appropriate vehicles for aging baby boomers:

What is missing is a vehicle specifically designed to accommodate baby boomers and their ever evolving driving needs.

The car I have in mind for this huge block, the Coupe de Coot, would include the following characteristics:

Size: The older people get, the larger the vehicles they prefer. If Buick made buses, you wouldn’t be able to get a parking spot at the senior center. The Coupe de Coot would make a Hummer look like a Mini Cooper.

Windows: They would be large and wrap-a-around to afford excellent visibility in all directions at all times. Also, the glass would automatically tint after dark to produce a night-vision goggles effect.

Turn signals: The interior indicator lights would be the size of frying pans, flash like emergency strobes when engaged, be accompanied by a Big Ben-level bonging sound, and automatically turn themselves off after an hour.

H/T to Kennedy How for the link.

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