{"id":18575,"date":"2013-01-15T00:01:26","date_gmt":"2013-01-15T05:01:26","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=18575"},"modified":"2013-01-15T00:02:02","modified_gmt":"2013-01-15T05:02:02","slug":"you-kids-are-screwed","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2013\/01\/15\/you-kids-are-screwed\/","title":{"rendered":"“You kids are screwed”"},"content":{"rendered":"

Feeling optimistic about the future? Bryan Goldberg<\/a> is here to slap that silly optimistic grin off your face:<\/p>\n

Hey kids, you\u2019ve all read \u201cThe Hunger Games,\u201d right? Almost all young people have read the best-selling books or seen the Hollywood movie about Katniss Everdeen, a smart and ambitious young lady whose life prospects are diminished by historical events that predate her. What little hope she has is seemingly reduced to nil when a bunch of old people drop her into an arena and force her to fight with her fellow children in a battle royale<\/em> to the death.<\/p>\n

But that\u2019s just fiction, right? Your loving parents and grandparents would never screw up their world and then throw you kids under the bus\u2026or would they?<\/p>\n

Actually, they already have.<\/p>\n

Last week, the economics blog Calculated Risk<\/em> ran a chart that tells a pretty compelling story. To an economist, this chart means that the magnitude and duration of the 2007 recession\u2019s impact on unemployment outpaces that of any prior post-war recession. To young people, it simply means this\u2026<\/p>\n

You kids are screwed.<\/p>\n

In fact, teenagers today probably aren\u2019t old enough to remember the \u201cDot Bomb\u201d recession of twelve years ago. But even at its peak, that really bad recession did not reach a level of unemployment that matched the one we are still<\/em> currently experiencing. With the Federal Reserve losing its appetite for quantitative easing, the last bullet in their holster, and both political parties deciding to half-ass the fiscal policy debate, it\u2019s safe to say that\u2026<\/p>\n

You kids are really screwed.<\/p><\/blockquote>\n

Pay careful attention to Lesson No. 4: it’s even more important than you think it is.<\/p>\n

H\/T to Jon, my former virtual landlord, for the link.<\/p>\n","protected":false},"excerpt":{"rendered":"

Feeling optimistic about the future? Bryan Goldberg is here to slap that silly optimistic grin off your face: Hey kids, you\u2019ve all read \u201cThe Hunger Games,\u201d right? Almost all young people have read the best-selling books or seen the Hollywood movie about Katniss Everdeen, a smart and ambitious young lady whose life prospects are diminished […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,79,84,13],"tags":[71,718,118,764],"class_list":["post-18575","post","type-post","status-publish","format-standard","hentry","category-economics","category-education","category-government","category-usa","tag-debt","tag-recession","tag-taxes","tag-university"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-4PB","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/18575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=18575"}],"version-history":[{"count":5,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/18575\/revisions"}],"predecessor-version":[{"id":18588,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/18575\/revisions\/18588"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=18575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=18575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=18575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}