Here ya go Frank.
Originally Posted by franksargent
If it is spamming, then report it to lundy
Please, oh pretty please.
Oh, BTW I can not derail that which does not exist.
Do I need to point out this one salient fact for the 6th
I found an article that makes all the same salient points I am making and even points out that that the KKK has white people under the hoods.
It says boomer to make it hard for even you to avoid.
A few of the best points.... which I am sure you will now find another reason to dismiss...
The Baby Boom Generation will never be mistaken for the Greatest Generation - the one that survived the Great Depression and won World War II. I hate to tell you, Boomers, but putting a yellow ribbon on the back of your $50,000 SUV doesnt count as a sacrifice. Our claim to fame is living way beyond our means for the last 3 decades, and weve virtually bankrupted our capitalist system.
Baby Boomers have been occupying the White House for the last 16 years. The majority of Congress is Baby Boomers. The CEOs and top executives of Wall Street firms are Baby Boomers. The media is dominated by Baby Boom executives and talent. We have no one to blame but ourselves for the current predicament. Baby Boomers had the time, power, and ability to change our course. We have chosen to leave the heavy lifting to future generations in order to live the good life today.
Its clear that all Baby Boomers are not created equal. Based on calculations made by the Federal Reserve, at least 50% of Boomers wont have a happy retirement. The bottom 30% will reach the age of 65 with a net worth of less than $100,000. They will try to subsist in poverty, dependent upon Social Security and part time Wal-Mart jobs until they die peniless. The top 30% will retire to lives of luxury and leisure. The middle 40% will muddle through with on Social Security payments - the only thing keeping them from an old age in poverty.
The only thing I would add to that is since Social Security is filled with bonds that aren't really worth anything unless we raise taxes to pay them back (the boomers already spent the cash) then S.S. is bankrupt too which means 70% of Boomers are going to be broke in retirement.
The banks made a bad business decision in making those loans. But the taxpayer wasnt involved in these business transactions. This is where Hank Paulson, Ben Bernanke and George W. Bush, formerly free-market capitalists, decided to commit our grandchildrens money to bailing out the horribly run financial institutions. Our government has chosen to allow these banks off the hook for their bad business decisions at taxpayers expense.
Rewarding bad decisions and bad behavior will lead to more bad decisions and more bad behavior. Now the Federal Reserve has lowered interest rates to 1% again. And this is where this nightmare started: The massive printing of currency throughout the world will ultimately lead to a hyperinflationary bust. The law of unintended consequences can be devastating.
Two points... one Obama and the Congress want to spend even more of the grandkids money and run the presses even more and two... some asshole around here keeps sounding the same warning only I guess in his case it is hate speech in that case.
The Boomer generation has freely made choices over the last quarter-century that has brought us to the brink of a second Great Depression.
During the current Bush administration, Americans savings rate actually went below zero, while household debt as a percentage of GDP soared above 130%. These figures prove the apparent prosperity of the last 25 years was an illusion.
Twenty-five years... but that can't be for the Jimmacs of the world who only know that there is no more Bush and it was only the last 8 years that ever did any harm to anything anywhere.... EVAR!!11!!
The priorities of our Boomer-led society are clearly born out in the above figures. We spend more on restaurants than on charity. We spend as much on big-screen TVs and stereos as we do on education. This may explain why 37 million (12.5%) of all Americans live in poverty, and our high-school students trail the students of 25 other countries (including Latvia) in science and math knowledge.
The $160 billion spent on gambling is indicative of the get-rich-quick attitude of the Boomer generation. Even worse, households with incomes under $13,000 spend, on average, $645 a year on lottery tickets, about 9% of all their income. Our government feeds this addiction by siphoning off billions in taxes from these gambling revenues to redistribute as they see fit.
What the data proves is that Boomers love to shop and eat, whether they have the money to do so or not.
Such HATEFUL speech... .how dare he analyze and draw conclusions from data by age. Why that is just hateful, wrong and of course... hateful.
Hate, hate, hate!
Based on the recent actions of our government and corporate leaders, we seem to lack any ethics at all. Its immoral for the Boomer generation to run up $53 trillion in unfunded future liabilities in Social Security, Medicare and Medicaid to leave as our gift to future generations while we live it up today. Optimists like to point out that Europe and Japan have much worse unfunded liability problems than the US. Thats like taking pride in being the best-looking horse at the glue factory. In the end, well all still be glue.
Bingo bongo. It isn't a Republican thing, a Democratic thing or even a U.S. thing. It is a generational thing.
Part two of the great Boomer credit contraction will be the collapse of the credit card companies, who have mailed out 27 billion credit card offers in the last 5 years. Theyre now reaping what they were at such pains to sow. As Boomers could no longer borrow on their homes, they switched to credit cards to make mortgage payments and car payments.
But that well is running dry. Losses in the first half of 2008 soared to $21 billion. Losses are expected to total $55 billion in the next year and a half.
This brings me to the latest outrage perpetrated on US citizens by Hank Paulson and his Treasury cronies. The credit-card industry, which collects 23% interest and $12 billion in late fees from consumers, is lining up to get their piece of the $700 billion bank handout. Capital One (COF) has just received a $3.6 billion injection from the American taxpayer, one week after projecting that their write-offs will be $7.2 billion in the next 12 months. This will allow them to send another million offers to more people who shouldnt have a credit card. Why arent the pundits on CNBC outraged at this misuse of taxpayer money? Would the bankruptcy of Capital One hurt our country in any way?
The Great American Empire has begun its long slow decline. It may take a few generations to reach its nadir, but our Boomer-dominated leadership have put our country on a path to a declining standard of living.
Just for clarification who was it that did this... BOOMER baby... BOOMER...
The facts: We have a $10.5 trillion national debt; $53 trillion of unfunded liabilities; a military empire that has US troops in 117 countries and has spent $700 billion on a pre-emptive war that has killed over 4,000 Americans; a $60 billion trade deficit; an annual budget deficit that will exceed $1 trillion in the next year; a crumbling infrastructure with 156,000 structurally deficient bridges; almost total dependence on foreign oil; and an educational system that is failing miserably. We cant fund guns, butter, banks and now car companies without collapsing our system.
Ultimately, its up to the Baby Boom generation to change our countrys course. The oldest Boomer is 62 years old; the youngest is 45 years old. It is time for Boomers to take a hard look in the mirror and rethink their priorities. It is time to cast aside the $88,000 Range Rovers, $1,200 Jimmy Choo boots, $5,000 Rolex watches and daily double lattes at Starbucks. Its time to live within your means, distinguish between needs and wants, reduce debt, save 10% of your income, make sure your kids get a good education, show compassion for your fellow man, and possibly pay more taxes and get less benefits, for the good of the country.
That top part is what I just love most. Bush and war.. Bush and war... great. You eliminate that and you dealt with 700 billion over several years. How the hell does that address the $64 TRILLION and rising amount obligations that the government has committed to and want to grow even more with more stimulus, more bailouts, more ...more...more.
I'm sad that some asshold started some $100 billion a year war. Can we please stop talking about the splinter and look at the damn plank in our eye? The one that is in multiples of trillions and is getting ready to explode and this with the printing presses already running and getting ready to go print even more than ever before.
The printing press... you know... that thing I referenced in the first article... the one that didn't say Boomer. We don't need to worry about the press because it didn't say Boomer. The printing press won't hurt anyone when it destroys our currency because the article didn't say boomer. The deficits won't hurt anyone because they didn't have the label boomer either.
Boomer, boomer, boomer, boomer.