US, world headed for 25 year depression: Jim Rickards

US, world headed for 25 year depression: Jim Rickards

“When I use the phrase 25 year depression, it sounds extreme but it’s not. We had a 30 year depression in the United States from about 1870 to 1900…The Great Depression lasted from about 1929 to 1940. The U.S. is in a depression today.” Well, it's been in the works for

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Canadian banking haven myth exposed

Canadian banking haven myth exposed

"One of the reasons that Canadians (and international commentators, other finance ministers and global financial institutions) buy this Canadian banking fairy tale is the way the government accounts for the money borrowed to support the banks." The sorry spectacle of Conservat

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Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your loans, guys and gals, because we are going into a high interest rate period. Very high. It will be the equivalent of going into the double digit interest rates we had in the 80s where many people threw their house keys at the bank and we had record numbers of ba

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E-cigarettes save lives, money

E-cigarettes save lives, money

"We know that cigarettes have thousands of chemicals in them and we know that they are killing us. They have been for over a hundred years. So now, the e-cig industry comes along with only one or two chemicals in their mixture and people are freaking out over these as well. Whe

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US inches closer to big bank charges

US inches closer to big bank charges

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades. In doing so, prosecutors are confronting

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Canada’s home sales top predictions; why a real estate crash is inevitable

Canada’s home sales top predictions; why a real estate crash is inevitable

“The assurance of relatively low borrowing costs has likely given home buyers confidence while rising home values have kept new listings at a healthy level. Stable employment has provided some assurance to owners and buyers alike.” Our website is back after many months of

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Comparing today’s recession/depression to the 1980 recession

Comparing today's recession/depression to the 1980 recession

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

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Why savers are getting screwed

Why savers are getting screwed

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

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Geithner admits USA bankrupt to US Senate

Geithner admits USA bankrupt to US Senate

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

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World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford Basically what the world central banks are doing is increasing their money by devaluin

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Is Obama the next Mugabe of Zimbabwe?

Is Obama the next Mugabe of Zimbabwe?

"America, Britain, Japan, Germany, France, Sweden, Holland, Norway, Canada and Australia make up the Fishmongers Group and their meeting on Tuesday will deliberate on the state of the inclusive government, debt relief, public finance administration and the controversial economi

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US raiding foreign countries with dollars, not soldiers

US raiding foreign countries with dollars, not soldiers

""The United States is going to China and saying: we want you to commit economic suicide, just like Japan did. We want you to follow the same thing: we want you to revalue your currency, we want you to squeeze your companies, we want you to go bankrupt,” says Michael Hudson,

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Content By: The Coming Depression Editorial Staff (dates cited below)
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elderly counting money

“Today the average couple is struggling with mortgages that are consuming 50% or more of their income.” — Pushing Hamburger

Is it any wonder they do not vote as much as old people, and is it any wonder that many do not see a point in attending college for jobs promised but never materialize or are sent to another country? No, today’s youth are aware of their predicament, and are aware they probably will never be able to retire. The youth of today’s parents were one of the last great generations we’ll see in a long time.

The Baby Boomers: where it started

Just after the Second World War, from 1945 to 1960, there were about 28 births on average per 1000 people in Canada to what became known as “the baby boomer generation.” The problem is that these baby boomers have not had many children of their own, and they are not numerous in grandchildren, either. In 1970 the birth rate in Canada dropped to 17 births per 1,000 inhabitants. Since 2000 it has fluctuated around 11 births per 1,000 Canadians.

This extraordinary 360 degree turn in the birth rate explains a number of important phenomena in our lives over the last 50 years. These facts will now have a decisive influence on economic and social developments that we witness over the coming decades, and certainly between now and 2020.

The remarkable phenomenon of the years 1960 to 1980 has been an influx of baby boomers in the workplace. The number of workers who earn wages and pay taxes grew at a astronomical pace and the welfare state expanded rapidly. Among the programs implemented were hospital insurance, health insurance, low cost colleges and universities, social services, public pensions, pensions more generous old and Benefits, among others. Remember that from a financial perspective, the baby boomers had it easy. Money was no problem. The economy was advancing relatively well with a high manufacturing and productive capacity, and times were relatively good. We had a relatively low debt per capita burden, and were exporting more than we were importing — a key sign of a healthy economy.

In coming years we will experience the other side. The baby boomers born between 1945 and 1960 are now between 45 and 60. In 2020, they will be 60 to 75 years. Most of them will have began their retirements. As they entered the job market en masse between 1960 and 1980, they will leave in large numbers by 2025. To add more complexity to the mess, our manufacturing and productive capacity as a nation (in Canada and the Unites States) has been relatively eviscerated, and has left a largely debt-laden economy. Indeed, the total external debt by 2015 to 2020 should be around at least 1 trillion dollar 1 trillion in 2015, making Canada’s net debt to GDP ratio about 65%. It’s a long way from Canada at 90% hit in the late 1990s, but stats show, Canada’s total debt is on an upward curve, especially with more “stimulus packages” in the works.

End Of Mandatory Retirement

The Liberal government of Ontario announced it will end mandatory retirement and begin a process to implement this change on December 12, 2006. The government claims that Ontarians are older want to continue gainful employment and that recent immigrants and women workers should work longer because many of them are unable to achieve financial security by the age of 65 years . Support for banning mandatory retirement is also from those who are already financially secure and work in non-strenuous jobs. In what seems like a good decision, the government is giving people “the choice … about when to retire.”the joy of not working

The reality is that the end of mandatory retirement does not give workers real freedom to choose to work longer. Indeed, allowing workers to work longer because it’s the only way they can survive does nothing to expand the options of workers when it comes to retirement. Instead, by eliminating mandatory retirement means workers without adequate coverage (and this is significantly many women and immigrants) will never be able to retire because when others are choose to retire later or never at all, it lowers the standard bar. Eliminating mandatory retirement and increasing the retirement age will mean less job opportunities for today’s workers, unemployed youth. There will be significantly less pressure on governments and employers to train and recruit young workers. Employer-paid training is already largely a thing of the past.

The Bamboozled Generation
Are you being stimulated into poverty?
Amazing Article written by PushingHamburger.com

Today’s generation has been so well inundated with lies from an out of control government that they can no longer tell which is up or which is down.

They no longer have the slightest idea of what it was to be a middle class family. They are far removed from the truth that not too long ago their parents lived in a more gentile time, a time when dad worked, mom took care of the home and children, there was job security, some money in the bank and the future for their children was to live in a world that was even better than theirs.

Well, such aspirations just never materialized. Helplessly and more to the point hopelessly that generation that lived in the golden age of America are mourning the morass their children have been forced into.

What that couple has been bamboozled into accepting is that both husband and wife must work to support what they claim is a middle class status. They have been bamboozled into accepting that it’s OK for their children to grow up without the proper supervision of either parent, its OK to be hopelessly ensnarled in credit card debt, it’s OK to live from paycheck to paycheck, it’s OK to live under the constant job insecurity, it’s OK etc. etc.

Here is a perfect example of what a secure job and the money earned was like in your parents time: A middle class single earner family with an income of $150.00 a week lived in a fair sized home ( over 2,000 sq. feet ) That cost under $10,000 with a mortgage of $90.00 or less. That included interest, amortization, taxes and insurance. Percentage wise ( the proper way to evaluate then and today ) that consumed approximately 15% of income.

Today the average couple is struggling with mortgages that are consuming 50% or more of their income.

The above example can be extended to the cost of feeding a family, medical expenses, transportation, college costs, taxes and every other aspect of family life. So why hasn’t this bamboozled generation fought back and taken this entrapment seriously? It’s the fairy tale syndrome. They just can’t comprehend what was and what has been denied to them. They have been brainwashed so thoroughly that it may bee too late for them to think on their own and wake up from the snake pit they have been programmed into.

Job opportunities have diminished because corporate has been helped by government to move factories overseas, corporate has been helped by government to outsource every conceivable job overseas, government has turned a blind eye to the huge growing illegal population that has depressed the hourly wage and opportunity of even the minimum wage market.

A revolution is not only needed but it is your duty. You can read the rest of the last half of this 2 part article from PushingHamburger.com

Related posts:

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  2. Why Today's Young People Will Never RetireToday’s youth have a problem that stems far from the stereotypes of their being lazy, apathetic, and civically challenged. Today’s youth see the deterioration of their working futures; the deterioration...
  3. Argentina Redux: Was US social security stolen?Over the past 25 years, five presidents, and the members of Congress, have participated in the great Social Security scam. All Social Security contributions made by working Americans, except the...
  4. Retirees, lost pension plans, and returning home“What we’re seeing here is they don’t have confidence in what they think of as the public safety net — a pension plan,” says Paul Taylor of the Pew Research...
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This entry was posted on Monday, October 26th, 2009 at 4:16 pm and is filed under Survival Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Comments

  1. October 27, 2009 @ 12:05 am


    Unfortunatley most of what is written here is true I see it in my High school i go to each day fortunatley and hopefully there are people like me out there that know what is going on if not then i do believe our generation is in fact doomed

    Posted by Kalax
  2. October 27, 2009 @ 12:09 am


    Yes, we are pretty screwed. A rebellion needs to take place to get our jobs back from China/Mexico. It will have to happen eventually (or maybe not), but if it doesn’t, USA will be bankrupted because no wealth is produced.. just debt. There is a good video on youtube. Search for “John coleman committee of 300″ and watch his full video made in 1993. He predicts we’ll have no manufacturing in USA anymore. Here is some information for you: http://educate-yourself.org/cn/johncolemangoalsofIlluminati.shtml

    Posted by Peter
  3. March 10, 2011 @ 1:28 pm


    I see young people around me with college degrees and working for $8 or 9 dollars an hr. One with an acct. degree was cashier al Wally mart. Another a desk clerk. Unless we get industry and mfg. back here it will cont. down hill. We need real men that can lead the country; I don’t see a turn around unless oil gets so high that these industries will have to move back here.

    Posted by ann

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