There’s no fool like an old fool? Try, There’s no fool like a ‘know it all young fool’

 

By Kevin “Coach” Collins

The gap between the earnings of those below 35 and those over 35 is now sufficiently large to say the younger generation will NOT live better than their parents or grandparents. This generation, tagged Generation Y,  is seeing its window close and a growing likelihood it will be the first generation in American history to live less well than previous generations.

Generation Y men and women with skills and educational levels that should have been gateways to at least an upper middle class life are finding the positions they trained for in the various professions either don’t exist or are so rare as to be all but impossible to secure.   

One recent law school graduate has bitterly commented, “I had a lot of faith in the system, the mythology that if you work really hard you can achieve anything, and the stock market always goes up. It was pretty naïve on my part.”

Generation Y professionals have seen their average incomes fall by 8% since the beginning of 2008 and their unemployment rate is consistently higher than the general population.   

A Rutgers University survey of 2006 college graduates found only 20% even expected to live better than their parents, a level of pessimism that is well founded in light of their almost 50% unemployment rate. Moreover only 20% said their current job was part of their long term career path.    

Realizing they have been fooled

After just a few short years, a 33 year old 2009 law school graduate is now saying her belief that the education she was receiving was valuable was “…pretty naïve on my part.” She is a plaintiff in a class action law suit against the San Francisco School of Law from which she graduated. The suit alleges the school overstated available positions and graduates’ potential earnings. The National Association for Law Placement Inc. in Washington has acknowledged that the Law school class of 2011 has experienced a 49.5 percent placement rate, which is the lowest since Jimmy Carter was in office.

Generation Y was one of Barack Obama’s strongest supporters. Now they are learning a hard lesson about paying attention when they vote. They are our next generation. They are our children. They wouldn’t listen and now they have made a mess they might never out live.  This is too sad for words.  

Source:

http://www.zerohedge.com/news/2012-12-26/generation-y-wakes-american-dream-faces-american-nightmare

 

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2 thoughts on “There’s no fool like an old fool? Try, There’s no fool like a ‘know it all young fool’”

  1. My grandson is in the same situation. And he stubbornly insists he “doesn’t want to work outside of his field.” Artificially long term unemployment allows that. It is the economic picture of low growth and no substantive changes by a Progressive government that have caused this stagnation. Cut spending on all non-essentials, get rid of redundant departments and other departments that should never even have been put in place (for example, return education to the purview of the States)keep taxes low, revamp our trade laws that have actually worked against us and put a stop to punitive and unnecessary regulations. Audit the FED and rein in the banks. Hmmm, at least that’s a start.

  2. WOW my heart really bleeds for these jerks that made their Obama god. I saw a lot of videos asking simple questions and they sounded like they had not watched
    or read any news since they were in 5th grade. They were all mostly Democrat not even knowing who was running aganst their god. I really felt sad for them knowing it was going to be a very short time for reality to set in. I think it has just slaped them in the face. Worst thing everyone of US must endure right alongside those num nuts.

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