patrick.net

Recession's over everyone! Back to work!

http://research.stlouisfed.org/fred2/series/LNS12500000

One interesting dynamic is that the baby boom is turning 50 to 68 next year.

As the boomers retire, theoretically a job might open up somewhere else in the economy.

Depends on their post-retirement consumption though. If retired boomers start cutting back consumption, we could be in a Japan-style deflationary decline.

Health care and other in-demand senior services should do a booming biz this decade and next. Got a friend in the reverse mtg business, he'll be doing fine.

i don't like how the main stream media wants us to feel sorry for them. should i when our taxes have to pay for all of this. i knew a teacher who got laid off. his wife told him to just cruise until the benefits run out. he turned town lesser paying assignments in the course. then at the end of the benefit cycle in california he could not find a job and also found he broke his work cycle for too long and also lost his medical benefits in retirement. i know this is not everyone, but still, i can't feel sorry here. sometimes you have to work beneath where you feel comfortable. we have all done it, but today that is just preposterous isn't it !

Bellingham Bill says

Depends on their post-retirement consumption though. If retired boomers start
cutting back consumption, we could be in a Japan-style deflationary decline

That depends. It could be countries like China that export cheap junk to us that feel the biggest pinch.

This should be the final push for driving house prices over the edge.

I don't think many boomers can afford to retire these days, unless they didn't have any children.

casandra says

should i when our taxes have to pay for all of this

ah but only the rich pay taxes (according to them) so what should we care?

casandra says

he turned down lesser paying assignments in the course

good! somebody who needed the job more got it instead. What's the problem?

Rin says

I don't think many boomers can afford to retire these days, unless they didn't have any children.

boomers are doing a lot better than anyone else.

The 1980s and 90s were very good for people saving money.

http://research.stlouisfed.org/fred2/graph/?g=qq3

is S&P 500 in 1980 dollars, 1980 = 100

shows invested money doubled in the 1980s and tripled again in the 1990s, in real terms.

Plus they should have their houses paid off by now (provided they didn't cash-out refi already LOL) and at any rate are increasingly eligible for reverse mortgages (by 2017 the front half of the baby boom will be age 62 and eligible).

We're going to enter a different economic regime in the next decade, that's for sure.

(age 70+ in green)

What exactly is going to happen, dunno!

Bellingham Bill says

casandra says

he turned down lesser paying assignments in the course

good! somebody who needed the job more got it instead. What's the problem?

Definitely a problem, people should take work when they can, if they turn it down their chances of finding a job later get progressively worse and the taxpayer is bleeding even more. Also, if someone turns down a job they were deemed to be best to fulfill the job is likely not going to be done as well by the runner-up and the overall economy is less effective.

Bellingham Bill says

Rin says

I don't think many boomers can afford to retire these days, unless they didn't have any children.

boomers are doing a lot better than anyone else.

The 1980s and 90s were very good for people saving money.

http://research.stlouisfed.org/fred2/graph/?g=qq3

is S&P 500 in 1980 dollars, 1980 = 100

shows invested money doubled in the 1980s and tripled again in the 1990s, in real terms.

Agreed.

Working in SV might skew ones perspective, but jobs are not scarce here, qualified applicants are. There are tons of jobs in the tech industry, I see companies searching for years to fill positions.

1,300,000 x ~$300.00/week= $ 390,000,000 out of local economies per week & for how long? This is just the damn math. Fewer tax dollars being spent,less revenue for businesses. Wonder how this will end?

APOCALYPSEFUCKisShostikovitch says

Face.

It's what's for dinner.

Beaver.

you obviously have never paid dog medical bills.

Rin says

I don't think many boomers can afford to retire these days, unless they didn't have any children.

That's 1.3M "USELESS" Americans, keep your facts straight.

Fuck 'em, they aren't needed to win an election.
Obama has to get the most bang for his Dictator buck when he invoke his executive decisions where he's go throw is populous dollars around.

And it aint on those Unemployed Losers. But he isn't leaving them with complete lack of Hope there is that pipe dream that they will get $15 an hour, and it will come with no ill effects on the economy, no repercussions on employment. Why shouldn't they believe it, they still think they have free healthcare those wretched pathetic little skin sac pawns.

Obama should treat his animals better than he does.

Call it Crazy says

Bubbabear says

As roughly 1.3 million Americans stand to lose their unemployment insurance this Saturday, perhaps now, as a reaction, the political agenda might finally return to the enduring issue of long-term unemployment.

No one has picked up on the "other" trend lately. How many of these 1.3 million will be applying for permanent disability this week now that their extended UE ended Saturday. If they get on long term disability, they got it for life, not 99 weeks...

Let's see how busy the disability office gets the next few weeks....

This is when we need a government shutdown.

casandra says

i knew a teacher who got laid off. his wife told him to just cruise until the benefits run out. he turned town lesser paying assignments in the course.

See that's where the system is all messed up. The idea (someone obviously forgot to send this bozo a memo), was to give you a helping hand while you're out looking for work. Back when the recession hit in 2009, I got laid off in January. Looked high and low for a job, got a job in 5 months, had to move 2500 miles for it - but it actually paid more than the old job. No, getting laid off is NOT another word for vacation.

mmmarvel says

casandra says

i knew a teacher who got laid off. his wife told him to just cruise until the benefits run out. he turned town lesser paying assignments in the course.

See that's where the system is all messed up. The idea (someone obviously forgot to send this bozo a memo), was to give you a helping hand while you're out looking for work. Back when the recession hit in 2009, I got laid off in January. Looked high and low for a job, got a job in 5 months, had to move 2500 miles for it - but it actually paid more than the old job. No, getting laid off is NOT another word for vacation.

You did not sit around. You did your best to find a job. The unemployment benefits was designed to help people like you who need temporary help to find a job. There are too many people who abuse the system, siphoning funds away from people who really need it.

Strategist says

There are too many people who abuse the system

Ag subsidies, ridiculous tax rates for Hedge Fund Predators, special accounting rules for the criminal Banking Cabal. Are those the folks you mean?

Bubbabear says

1.3M Americans Will Lose Their Unemployment Benefits Tomorrow

http://www.Yop62wQH498

casandra says

i don't like how the main stream media wants us to feel sorry for them. should i when our taxes have to pay for all of this.

I hope when it is your turn, you are met with compassion instead of resentment.

"As the gap between the rich and poor widened over the last three decades, families at the bottom found ways to deal with the squeeze on earnings. Housewives joined the workforce. Husbands took second jobs and labored longer hours. Homeowners tapped into the rising value of their properties to borrow money to spend.
Those strategies finally may have run their course…"
http://www.bloomberg.com/news/2013-12-30/americans-on-wrong-side-of-income-gap-run-out-of-means-to-cope.html#disqus_thread

Bubbabear says

1.3M Americans Will Lose Their Unemployment Benefits Tomorrow

Which of course will be interpreted as a huge drop in the unemployment rate.

What's not to love?

http://www.e-ETnmLVfas

mell says

Also, if someone turns down a job they were deemed to be best to fulfill the job is likely not going to be done as well by the runner-up and the overall economy is less effective

LOL, not for the millions of McJobs we have now.

http://research.stlouisfed.org/fred2/graph/?g=qty

wages / GDP