The Boomer Supremacy Summary

I have to say this...what's the link between lockout laws and young people locked out of property?

 

I come from a generation where the parents hadn't completed year 10, if they were lucky they had yr 6 and others can barely read or write but they have mastered a second language, worked in hard labouring roles, run successful businesses etc. Education wasn't a major issue until the 1980's when we had high unemployment. Year 12 became a sneeky way of reducing youth unemployment by keeping kids in school, now you send them to uni to delay them showing up in the stats for another 3 or 4 years when they find out that the jobs which didn't exist in yr 10 don't exist when you have an undergrad degree.

Our local hairdresser finished her apprenticeship last year. She left at year 10, her friends continued at good upper north shore schools and went to uni. She owns her house, the others don't even have jobs. What opportunities?

Kids are spoilt by their parents - never caught public transport for fear of rubbing shoulders with the unwashed? Waited on hand and foot. Annual OS holidays.

 

Over entitled people who have it better than any previous generation still finding excuses for their own lack of personal responsibility?

 

There's plenty of people who manage to complete higher education degrees while working. They aren't just "fronting up for their first job in their mid 20's" and they definitely aren't sitting around at home doing bugger all after completing their degrees. If you haven't met any of these people, that's unfortunate for you.

I know plenty of people who dropped out of high school and have since gone on to do...absolutely nothing with their lives. But wouldn't it be ridiculous of me to imply that people who drop out of high school are duds that won't end up getting anywhere, based on my (limited) personal experience? Of course it would.

Do plenty of university students see their studies as an opportunity for an extended holiday? Absolutely. But that's a problem with the individual and (possibly) their upbringing, not with their choice to take on further study.

At the end of the day your ability to motivate yourself and an internal hunger for success is going to have a much bigger impact on your future than if you choose to undertake further education or not.

The above seems to be a big problem with these debates in general. Many BB will take a look at a few Gen Y's they know (usually in their family), see they fall into the lazy little ***** category and then go on to declare that the entire generation is useless. The irony of it all is that the generation before you did exactly the same thing...

 

There is generational inequality. When my parents went overseas it was very expensive and they had to save for a long time to travel. Now international travel is cheap. Gen Y gets to travel for a fraction of the cost of boomers. That's generational inequality. Gen Y has the advantage in this regard.

It was difficult for my parents to get into uni because of limited places. Now there are over 1.3 million places. Sure there is HECS/HELP but at least people can a place now. Advantage to Gen Y for securing a place in university. Advantage to boomers for lower fees (for the ones who were lucky enough to get a place).

Yes, there is generational inequality but that is not the real question. Which generation is more advantaged? Irrelevant, but a lot more interesting.

The real question is, how can Gen Y make the most from the advantages they enjoy over previous generations?

 

Do I think there is Generational inequality? Probably not, however, I am anticipating paying off my HECS Debt ( it was called that, when I incurred it) this Tax year!

 

Gen X. I worked full time and studied full time. That's difficult! I don't resent my HECS/PELS fees for one second. My university places were created with HECS and PELS. I am grateful for them.

 

Nobody under the age of 40 in Australia has had to work through a recession...

 

Undecided on whether I agree with lockout laws or not, but the 'symbolism' side of the argument is a total crock.

I think it's pretty much undeniable that many areas of Sydney and some areas of Melbourne are unaffordable. Don't think anybody really disagrees with that?

But times have changed. No more will the majority of people be able to purchase a relatively inner city house on a single income. Expectations need to adjust, and FHBers need to understand that most of them will not be buying the median house in any given suburb.

Economic policy favors those who can take advantage of it. Boomers have already accumulated wealth, and hence can utilize many more concessions. This can be difficult to work around (but I'm all aboard the 'cut concessions' train).

Why should a Gen X/Y-ers job security be on par with a person who is more experienced and in turn more valuable to an employer?

Do I just rock up on my first day at a job and expect that my employer should fire the guy who has a decades worth of experience on me first if something goes wrong? Sounds like an impossible expectation. You're vulnerable until you have more experience / are more valuable than the guy beneath you.

 

Sure there is this generational inequality thing.

The other day I asked an older lady at work for a dinner date and she told me to come back when I've paid my IPs off.

I said "what? In 27 years, we'll be pushing up daisies by then (or at least you'll be lol)"

I have therefore decided to try and even out this inequality by concentrating on younger women ie the free ones that came 'bout prior to Gen B (ogan).....lol.....game on.

 

Really? What industry pays grads $150k straight out of uni and gives work life balance.

I have only ever heard of one person that is on $150k less than 2 years out of uni and he was basically working 24/7 for Maquarie. Interesting work life balance.

I think people like to stretch the truth in this age old debate. At the end of the day there will always be outliers but for the average joe it was hard then and it's hard now. If you push through and make sacrifices you will be rewarded hamsomely for it.

 

Catlin, you can be brutally honest. Is there any hope for an average Joe like me?

 

Caltan, not Catlin. Sorry

 

Yep, my error sorry.

 

Wasn't sure if you were asking him/her out?

 

Youth under-employment hits highest level in decades

Australia labour force data – now a million underemployed

Australia hasn't been in a recession because our GDP has been growing, which is great news.
Economic growth jumps but national income falls

Yet this masks the issue of income growth.

"The picture was even bleaker on the Bureau of Statistics real net national disposable income measure, which it describes as "a broader measure of change in national economic wellbeing" than GDP.


National disposable income fell 0.3 per cent during the quarter on this measure, and was down 1.2 per cent for the year, in contrast to a 2.8 per cent trend rise in GDP.

Per capita, this measure of economic wellbeing has now been flat or falling for 16 consecutive quarters (four years), the longest period it has gone backwards since the ABS started calculating the figure in 1973.

"But income growth commensurate with the early recession of the 1990s remains a concern.

"It reflects a big decline in commodity prices which puts downward pressure on wages, company profits and government revenue growth, and it is why the economy feels weaker that the headline GDP numbers imply."

 

Yes..thats exactly how i see it..i strive to be 'company independent ' although i like my company and all that but my primary goal is to work on myself so that not only am i more valuable to my company but also my personal share price in the market increases.ie in demand independent of place of working. Thats how i define job security.
..and one can argue that if you look at it that way, then there is more security thesedays than prior generations as information and knowledge is more readily accessible via more channels and its quicker to get and cheaper as well...

 

Perfect, repeated threads on this subject that provide no value.

Those who are making it happen could not care less, they are too busy making it happen. I guarantee there will be a zillion posts on this, yawn.....

 

Yep! There are movers & shakers in all generations! There are no good layabouts in all generations as well and a vast sea of people in between those too extremes. It's usually those that are not the movers & shakers that stand up & say it's not fair, and want the older ones, that have made something for themselves over time, to give them a free pass. You've only got to take a look at all the young investors on the boards that are out there doing it, to see that if you really want it, you'll make it happen. The challenges you face will be different as time moves on, but it really is swings & roundabouts.

 

Affordability is one thing...but lock out laws...? Article credibility = 0. What will upset them next? 40 km hour speed limits in school zones? Damn boomers could go 60!!!!