Crash Course: Chapter 14 - Assets & Demographics (2 of 2) by Chris Martenson

[EsCurve]

Chris=Awesome

[stocktradinginvestor]

Also, migration to the US will likely occur filling in the population problem to some extent, particularly if housing becomes affordable, and dollar becomes weak against other foreigner's currencies.

[stocktradinginvestor]

Potential solutions to age problem?

1)repealing some child labor laws and allowing kids ages 10+ to work.

2)during the gap to add child labor laws only allowing kids 16+

3)temporarily increase SS payment to cover the boom then reduce it during the gap

4)SS lending program where assets/excess cash are given back to gov't after death to pay future generations (I hate this idea)

5)structural system reform (probably the best but most dramatic choice,)

[stocktradinginvestor]

The imbalance of rich and poor is a side effect of corrupted government, which is a side effect of too large of government (that if corrupted can actually have the power to influence wealth via one favorable sided grants, letting competitors like Lehman fail but bailing out others, etc).

[siprus]

actually we could solve it with clever trick! shoot precentage of old population!

(just kidding)

[pismo10]

A feature of the baby boom and of more and more people on welfare and therefore not earning any true income to contribute to the SS/Medicare nightmare.

[stantonmick]

One way of offsetting these demographic challenges is to open up the gates of (legal) immigration. This is the only thing allowing Canada to have any momentum at the moment. While people often look at immigration as poor people, Canada's green card system privileges wealthy people from overseas to come to the country. It continues to make things tough for the younger generation but it keeps some heat off the government.

[TheAttackRat]

@stantonmick immigration causes civil unrest. a better system is needed without sabotaging everyone's right to influence the decisions made.

the current system just votes in the most popular person leading to bad policies, which look good on the outside, but rote the core of our liberties. now, it's actually foreseeable that socialism will come to the US. very sad. especially as the main support for it comes from people who don't understand why they can express their beliefs in the first place

[traingp7]

The babyboomers retiring wouldn't be a problem if most of them died before retirement making social security better for the survivors and future generations.

[VyseLegend]

Don't worry guys, the Chinese slave laborers killing themselves in the iPhone factory will be more than happy to keep buying our debt.

[TheAttackRat]

@VyseLegend no they won't... lol. they've already slowed, and will stop.

[melmabazza]

PLEASE PRESENT YOUR SOURCES.

[palehorsepalerider]

boomers will have to give their mcmansions and other cheesy useless "wealth" away.

so funny. your little convertibles will be recycled into burn barrels for your grandkids to keep warm around. Boomers: the worst generation , possibly ever.

[kikrlbs]

@palehorsepalerider I totally agree, thanks mom and dad for borrowing from my future you fucking sheep! I think the only generation worse than the baby boomers, are the dumbasses who let the federal reserve act pass.

[Chevyguy2003]

@kikrlbs yea they are assholes. They can take their home equity loans and shove it up their rectums.

[palehorsepalerider]

5:02 is the real deal

[malcia444]

If the 10% of populace hold 80% of net worth won't it be that 10% that find it difficult to offload - I suppose their offload will devalue the other 90% of populace assets - but they will lose the most.

[livinghalal]

What if you take into consideration foreign investors who come to buy boomers assets, would that improve the picture? (future is bigger)

[lucinos19]

Good point. Sent your country to foreigners! If there is not such a wealthy nation on earth then hope for aliens to visit earth soon.

[lucinos19]

sorry "sell your country"

[666sigma]

Good point, except the demographics of most developed countries (including countries like China) look worse than the US. The only countries with a "normal" population curve are generally the poorest countries.

Most of this information is not really that new. However, it helps to put into context how difficult it will be to recover from the housing bubble - too much borrow and spend.