The study of economics is a funny thing, yet one which tops it is sociology as in fact what most people miss is that (our) sociological models make up our economy. As without people wanting to “trade” there is really no point to have an economy is there? So it’s with this in mind, I find amazement that so many folks still see these as two separate things, and that “economics” is in a fact a standalone construct which can operate on its own as if it was some form of automiton if you will and people simply form the economic input as if it were an IDef-0 model.
Yet what has me rambling about this today is the idea of nine more years, yet you are most likely asking nine more years of what? Well it’s work, and yes it’s for us (baby) boomers as it appears we aren’t just working a few more years then our parents. We, are in fact working almost a decade more than them.
While they say keeping busy is a good thing, there is (as with everything) a cause an effect relationship which this brings. As personally, I’m bringing up the tail end of the booming generation as there is only about 2 to 3 years and could of been a Gen-Xer as my sister. However, it’s not my personal plight of being in a gray area, it’s in fact that sociologically we are stealing from Peter to pay Paul if you will. As for every extra year a boomer works, it’s another year of stolen opportunity from a Gen-Xer.
Well if this wasn’t enough on its own, the second shoe here is the fact that there are so many more boomers then Xers to start with. So in short the “Boomers” are sucking up all the economic air from the room if you will. In addition as with all things plumbing related, the effects roll down hill and if the Xers are being starved for employment, what about the Y’s? You know all this Occupy Something nonsense going on now because the Yers are saying there are no jobs?
Well they are right as their parents and grandparents are still holding on to them and the (economic) plumbing is now backing up. As for me the government says I have another 17 working years under my belt which is interesting in that this year will be the 32ned year which I’ve paid into social security as an adult (about 35 in total). So this will mean I will (and others like me) spend 49 (or more) years in the workforce!
In fact because of the volume of boomers, not only will both the Xers and Y’s be impacted, however the upcoming millennial’s will be too as they attempt to enter the workforce. So when there are comments about the economic life the boomers children have not being what their fathers were, that is because their father still has it…