For Economy, Aging Population Poses Double Whammy
I don&#x27;t think I&#x27;ll ever get tired of posting the chart ZeroHedge put together with BLS statistics showing that the 55+ cohort has, in practical terms, monopolized the &#x27;economic recovery&#x27; since 2008.<p><a href="http:&#x2F;&#x2F;www.zerohedge.com&#x2F;sites&#x2F;default&#x2F;files&#x2F;images&#x2F;user5&#x2F;imageroot&#x2F;2016&#x2F;07&#x2F;03&#x2F;job additions total by age_0.jpg" rel="nofollow">http:&#x2F;&#x2F;www.zerohedge.com&#x2F;sites&#x2F;default&#x2F;files&#x2F;images&#x2F;user5&#x2F;im...</a><p>Anecdotally I&#x27;ve seen more and more 60+ workers doing line-level gigs like cashier or low-skill retail than ever. I think there&#x27;s an undercurrent of discrimination against youth, actually, in that the 55+ group will be dependable and complacent because they <i>need</i> to work and therefore <i>will show up</i> to work.<p>In the modern US economy, longevity in one firm or role is actually bad for a young person&#x27;s career! There are no pensions to earn. There are limited annual raises that are lower than inflation. On and on and on.<p>I&#x27;d be a lot more sympathetic to the plight of the elderly in such a position if they weren&#x27;t, you know, basically kicking away the ladder they used to climb to the top, spend the country broke, and then continue to vote entitlements while passing a faux-future of success demanding everybody get a Bachelor&#x27;s to even be a Secretary answering phones. This whole system is so broken pointing it out sounds extreme or mean, but it&#x27;s just obvious to me over these past 15+ years of working.<p>I just got my SS statement the other day, and was extremely proud to see that every year I was eligible to work, even if I was going to school &#x2F; college &#x2F; etc, I did work. Not a single year without an above the board job. I don&#x27;t think a lot of Millenials will be able to come anywhere near it, and I don&#x27;t think it&#x27;s entirely their fault. End of my $0.02 that is really worth about 1&#x2F;8 of that...