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Watching this now four months after this was aired. Have followed his work for years. Little did he realize that the crisis that started in 2008 is beginning its culmination now. Would love to have him back on at the end of the summer to look retrospectively at all of this.
Yes, I have looked for interviews with him after Covid, but he says little. He has said it will take demographers & other researchers years to study the effects of Covid & policies. (Makes sense especially for demographers).
I'm looking forward to seeing this change in America, I'm Gen X and my son is Gen Alpha, every month I save for him and the thought of an extended family living together in my last years is a beautiful thought. Gen X is really the silent generation, but what we've seen in our lives will translate into a pivotal change in America's social structure through our actions. Beautiful time to be alive...
I truly enjoy this interview. The interesting aspects of the generations are the fact that there is a silence balance that is needed for society to continue as each generation brings their own contribution to the history of the world.
Would you please say this again a different way? I’m pretty sure there is more than one person here who doesn’t know the term “silence balance” ... as an example.Thank you.
Last sunday I was talking to my boomer dad who just retired end of last year about his generation and mine (millennial). I asked him how much money him and my mom bought their first home for. He said around $20k, I then asked how much money he was making then; he said around $10/hour. His home cost about as much money as he made in a year. My first home cost $125k and i bought close to the bottom of the market in 2012 after the housing crash. I was making around $14/hour. My house cost me about 4.5 times what I make in a year. Homes have more then doubled since 2012 and wages have remained flat. Median cost of home in this country is $330k and median wage in this country is $33k, about 10 times a persons wage to buy a home. This is why Bernie Sanders is getting a majority vote.
...ok...did you ask what his interest rate was on his home? What the rate of inflation was at that time? You're not getting a complete picture. As a boomer, I left the home at 18 (1975)...inflation reached its ominous peak in 1979, and interest rates topped out in 1983 with a Fed Funds rate of around 13.5%. Everything got more expensive by the day. I huddled up with several roommates. We shared a phone and a care between us...don't tell me about tough times...lol...
@@andyw6996 interest rates were high then, because in the 80s paul volcker raised them real high to fight inflation, unlike all the rest of the FED chairmans of the past 5 decades who just want to lower rates and keep asset prices rising to help the boomers and rich who own assets get richer. Lowering interest rates allowed boomers to refinance their homes for cheaper payments over their years. While at the same time making them more expensive for the younger generations. Now that interest rates are zero and looking like potential negative rates. Future generations are not going to see the same asset price appreciation of making money cheaper. I can only wonder what other financial engineering the central bankers are going to come up with to keep this inner-generational ponzi scheme going. Maybe they will allow people to borrow further into the future like 50 year mortgages, or 100 year or even more. The future is unlimited, just push borrowing even further out into the future. Argentina just launched 100 year bonds last year. The FED has been talking about 50 year bonds here.
Gen X couldn't go back home to Boomer parents cos they didn't want them "back in the house". The Latchkey Kids continued standing on their own two feet as that's the only life they knew from childhood. Why go where you're not wanted or welcome, or where the attached strings are as thick as ropes?
@@lauriedmills7581 it was until millenial socialists attacked my business for the last 5 years. My business is not my money but my creation because I willed it into existence.
@@marcritchie4968 Sad to hear that. I'm glad that you see the truth about the socialist/communist ideology though. You sound resourceful - I wish you all the best as you respond to current times.
Would say the biggest shift was regarding our monetary system and dropping gold standard currency to fiat currency. Boomers had a big advantage funding everything with cheap money from future generations. Now with 0% and even negative interest economy, we don’t have any chance, just completely changing our monetary system. Let’s see where all that QE madness will take us.
I'm glad I'm a boomer and received the benefits of cheap money and a high-performing stock market. Do I care about the following generations? Yes, I care about my kids, but the following generations as a whole...not really. We did what we did to gain an advantage for our livelihood and retirement years, and now we're reaping the benefits.
The current generation has super cheap rates and booming stock market. The were 1-2 recessions every decade, 1950, 1960, 1970, 1980, 1990, 2000. Some of these were pretty serious like the 1970's oil crisis, 2000 dot com, 2008 credit crunch. Its not young vs old, its should be us versus THEM. Now go figure out who they are, they run the MSM and the central banks.
Morpheus I know market cycles and current with 0% interest we could compare with 1929 just before Great Depression. Just saying that Boomers hade advantage compared to millennials.
Don’t forget the SS benefits we’re chipping in on and likely wont see any return on that. Something else to thank the progressives for and yet another reason to continue fighting them.
I would love to ask Neil, does "who your parents are" define who you are more than your birth year? I am a late wave Boomer/Early wave GenX'er (1964) so my kids are Millenials (1995,1997,1999) and my parents are of the Silent Generation (1937,1939). As you have stated many times Millennials are risk averse and Silents are also risk averse. My children are very much like their grandparents, dating and marrying their high school sweethearts, saving money, helping the downtroden. Is this common, where a generation is more like their grandparents than their parents?
I think it is. I have been told I am textually like my grandmother by a few relatives. She valued education, was savvy with money, had a strong sense of family and believed in doing her share in the community too. Nothing like my parents who lived their whole frivolous life at credit/debt and died without leaving anything for the posterity.
Nachannachle maybe we are so close to our parents to grow contemptuous of their behaviors and at the same time we see our more mature stable precious grandparents who maneuver through life with the benefit of wisdom as someone to model our lives. We emulate those whom we see as more stable, more successful. Familiarity breeds contempt.
Yes, my parents were mid-Boomers with late Greatest Gen/early Silent parents. I'm a late Gen X and I relate much more to my grandparents than my parents.
"when we go into another recession" he said one month before it struck. Skyrocketing spending and debt!! Maybe some higher taxes a year later, but still not settled. But we are in that creative moment, at least at the start of one. He was right that our "transition" is not smooth. It's transformation!
The people who really try and change things, particularly in this country, are usually ridiculed, demonized or simply assassinated, as our history shows and our present reflects. Trying to make everyone happy, secure and prosperous at the same time will be a difficult task. Having lived through these and those times I could never see the bigger picture because of the struggle that presented itself constantly in the now of my existence through the past. The family and the job was always at the forefront of my time. But now, while I have only myself to maintain, I see the hindsight of the mistakes and some few blessings. There will be a turning. But not in my remaining lifetime. If you can really see the now, feel it, know where it's coming from and react to avoid the mistakes, the wrong choices, the disasters; then you can make a difference. But you cannot stay quiet. You are duty bound by society to speak up. Because if you do not, you are going through time without a real purpose or life. You are just being. Our purpose in life is to be more.
Looks alot like you’re projecting your values onto others..... and blaming your own youth for what amounts to your own failure to parent...... just because its so entirely similar among the boomers who bred lets no one off the very real accountability to parenting..... besides the fantasy of retirement is something you perhaps believed as you were told though no reality exists to substantiate as such where you are attempting to pass off such drivel yet again....... look deeper my friend it might be a reality that you abandoned your children as did so many others and then alienated them and held them responsible for what was never sufficiently presented..... the mess you leave behind has been cleaned with little success comparatively, never the less have you ever looked at the impact ? Who would benefit in “growing up” now..... only every one of us!
Since Social Security system is a public trust fund and a pay_as_you_system. So if you want to take care of the old through retirement, help the younger generation get high paying jobs since we pay the taxes. So the taxpayers should be taking care of better than the older generation who is withdrawing out of the system. This is my take always help the next generation more to make the country better. That's how America should be run.
Millenials see their parents as hypocrites and refusing to do things the same way. Forging their future slowly with empathetic thought proceeding their actions. They are not narcissistic egotists!!! Unlike the present leaders today!!!
Well--If we didnt bleed our National Wealth out to the world--just maybe we would HAVE the money to meet Social Security Obligations, Training for our young people, and building new infrastructure in the USA.
The thing that amazes me the most about the Boomers in Australia is this... Most of them can not use a computer... And they blame their age... I mean like seriously.. computer have been a part of our lives for 20 years!!😂 It's like you actually have to consciously decide to not learn 😂 and many of them are proud of it . Like yehh I not going to waste my life on that thing 😂😂😂 lol. Now they are focked, having to support themselves with just the equity in their home and no job for 20 years. Maybe if they had at least a little tech skill they could semi retired with a computer job to keep going. But that's impossible for most of them BC they are essentially tech illiterate. And they did it to themselves. On purpose. And what's worse for them is they spent the last ten years boasting and laughing at the younger gen not being to afford a home because the boomers made policies to price everyone out... I don't see it ending pretty for them. Especially after today and 60billion wipped off the stock market and their supper. Anyway. To summerises. There are some nice boomers. But most in Australia are horrible spoilt grumpy little people imo. If your on this UA-cam you are most likely a nice boomer. So don't get too angry about this comment. It's not directed at you. 🙂👍🏼
No, I totally agree with you. Warren Buffet couldn't turn a computer on. These dinosaurs tell us Bitcoin is Rat Poison. If you listen to these old guys you will be unemployable down the track. I don't know all the answers but what I do know the world is a changing. Adapt to change or get ready to be holding loose change!
@@vgeorge101 yeh. I'm not accusing all boomers. I'm saying most boomers did not learn. And they talk about it like it's something to be proud of. It's weird. I will try keep up with technology forever. It's a skillyou need to stay employable
@@falakoala4579 Boomers built the internet, telecommunications, cryptography, all forms modern transport. And the Luddite boomers, were building houses, farming, mining, raising families. There are many skills apart from technology. Can you build a house, make a chest of drawers, fix your car?
Interesting discussion around 28:10, about taxes and "unfunded liabilities". Neil says that GI's and Silents paid taxes that benefited Boomers in their youth; which allowed for "free" post secondary education (or "almost free"). But now, he says, the Boomers and Xers tell Millennials, "No, you pay for your own education." Here, in Canada, part of our taxes go toward lowering the cost of post-secondary (we are told); post-secondary costs have risen dramatically but I see the parents paying. In Toronto (Canada), half of millennials (according to the banks) depend on parents for down payment because it is absolutely necessary. Incredibly high costs for down payment (housing bubble in the greatest cities) and for university; low wages and high cost of living make it impossible for the millennials to pay it without "bank of mom & dad". It would be interesting to see statistics (USA); what percentage of millennials pay their university costs without parents' help. I'm sure many people pay their own way. Just wondering what percentage of students get $ from parents.
I see the Dems and Reps just shout at each other, vilifying each other, not listening, not thinking just glued to their ideology. It’s cheap, unproductive, unnecessary. Let’s figure out what we want and need, let’s debate, let’s listen negotiate, think win win.
Multiple generations living together is nothing like years ago...neil is wrong here. Millenial live with parents as they have no jobs income...years ago parent lived with kids as the parents were unable to work and had no pension.
Just have a schedule based on income. If you're making less than 35 grand a year you only have to pay 1 percent. And then you have a scale that goes up with income.
Confiscate the endowments given to universities tax free and pay off student debts. We should also force Universities to co-sign student loans. They should share in the risks and the outcome.
The credit binge/interest rate cycle is what shapes generational attitudes. It's simply the result of the wealth inequities created by that cycle. Boomers were so fortunate to have 40 years of diminishing rates.
If you WORKED forty years and complied with law regarding taxes et al YOU ARE NOT DEPENDENT, you merely need what you pre paid or were required to contribute returned to YOU. ie. Social Security Pension Medicare
@@turkbud802 I disagree. Lots of young people have part time jobs and contribute to the economy. I also dont like being lumped in with millenials thank you very much.
@@OrbitalAstronaut Don't worry, no chance you can be confused with a Millennial. As teenagers, your generation believes in being YT star or TikTok celebrity, meanwhile us Millennials were talking about American hegemony and the War on Terror. :)
Seems to be a common thread among economists to be massive globalists and not be able to understand the trump and brexit phenomenon and what's behind them. Gdp Gdp Gdp..
Boomers and Millennials, Boomers and Millennials, Boomers and Millennials.... Neil Howe bloviates about the same stuff over and over and over again. Gen X here - wake me up after the Boomers die.
Greens want "to slow down technological progress"? Wut? They want to protect the environment first and foremost. And when it comes to technology they want to accelerate the adoption of more advanced technologies.
seems like pseodo-science babble to me; putting way too much emphasis on generational group-think, boomers don't all think alike or agree with each other, pretending that they do is like pretending that people born in the year of the rabbit are alike or that they aren't compatible with year of the tiger people. Give him credit for selling a lot of books though.
orioles70 he’s not discussing individuals. He’s discussing the block. You can be the opposite of everything he’s said about a particular generation bracket. But you’re generation bracket isn’t. And it dictates how the economy is moving and generally the social implications.
Our parents had pensions from their employers. We have can expect nothing from them. Our kids lived with us until they were 30. We could build nothing. Us boomers will have to work until we drop, probably at 80.
You have to adjust your consumption standards both at home and per governance. Also things will become more multigenerational with the new economy, so you will need to redefine your vision of retirement to be more village based than the RV into the sunset. Do this, and there will be joy and cooperation. The alternative is generational war, as kids cant afford a place to live and grow anymore.
@@TheKayzieMichelle Bless you. Just addressing that it's not only what you earn, but what you spend, and yesterdays standards are not viable anymore given the imbalanced economy. The young have had to adjust, yet I see reluctance on the part of the old. We are all in this together. Kindly.
Lifelong libertarian here fed up with this inequality. Solution: take the 20 trillion debt out of boomer savings and pensions. Cut taxes. Let the boomers rot.
I have never given a thumb down to any UA-cam video. This is the first for me. This guy saying baby boomers expect millennials to pay for social security is not true. Boomers expected their leaders to save the correct amount of money for retirement. The leadership stole the retirement nest egg. Pensions are broke, I personally paid into social security and a pension. That money was intended for retirement. That money should be there for retirement. The person stating boomers and generation x’s have not invested into infrastructure is also false. Infrastructure must be continually maintained. Nothing gets built and lasts forever. Millennials enjoy a robust, developed infrastructure that was paid for by the generations that proceeded them. In the last twenty years the amount of communication has exploded. No long distance, high speed Internet, low cost transportation, even cars. In the 1980’s a descent car cost 4 months salary of minimum wage. Now a descent car can be purchased for 1 month of minimum wage salary because there is such a huge supply of used cars. Millennials have it made!!! Never in history have people been able to make huge amounts of money with little investment. Watch the UA-cam videos showing the top earners on UA-cam playing video games. Unboxing toys, demonstrating makeup applications, car repair, stock trading, the only limitation is your imagination. But the millennials are the champions of on thing. Millennials are the whiner generation. Hahahahaha Gen X’s are the Pepsi generation. Millennials are the flushable wipey generation.
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Neil Howe is great, I could listen to him talk for hours
Ed Harrison is one of the best interviewers of our time. Bravo Sir!
Nailed it.
100% agree
Watching this now four months after this was aired. Have followed his work for years. Little did he realize that the crisis that started in 2008 is beginning its culmination now. Would love to have him back on at the end of the summer to look retrospectively at all of this.
Yes, I have looked for interviews with him after Covid, but he says little. He has said it will take demographers & other researchers years to study the effects of Covid & policies. (Makes sense especially for demographers).
I'm looking forward to seeing this change in America, I'm Gen X and my son is Gen Alpha, every month I save for him and the thought of an extended family living together in my last years is a beautiful thought.
Gen X is really the silent generation, but what we've seen in our lives will translate into a pivotal change in America's social structure through our actions.
Beautiful time to be alive...
Gen alpha?
What is alpha ? 2004 to 2020?
X marks the spot
I bet these guys didn't know they were days away from a 5000k drop on the Dow!
you bet?
Hey big guy… How’s the market looking today.? Hahaha welcome to the fourth clown show of the 2020s 🤡😂
That was the day I sold everything and went 100% cash.
I truly enjoy this interview. The interesting aspects of the generations are the fact that there is a silence balance that is needed for society to continue as each generation brings their own contribution to the history of the world.
Would you please say this again a different way? I’m pretty sure there is more than one person here who doesn’t know the term “silence balance” ... as an example.Thank you.
Last sunday I was talking to my boomer dad who just retired end of last year about his generation and mine (millennial). I asked him how much money him and my mom bought their first home for. He said around $20k, I then asked how much money he was making then; he said around $10/hour. His home cost about as much money as he made in a year. My first home cost $125k and i bought close to the bottom of the market in 2012 after the housing crash. I was making around $14/hour. My house cost me about 4.5 times what I make in a year. Homes have more then doubled since 2012 and wages have remained flat. Median cost of home in this country is $330k and median wage in this country is $33k, about 10 times a persons wage to buy a home.
This is why Bernie Sanders is getting a majority vote.
Tyler Hill socialism isn’t going to solve hyperinflation. Bringing work back to NA shores and a hard reset of the financial system will.
...ok...did you ask what his interest rate was on his home? What the rate of inflation was at that time? You're not getting a complete picture. As a boomer, I left the home at 18 (1975)...inflation reached its ominous peak in 1979, and interest rates topped out in 1983 with a Fed Funds rate of around 13.5%. Everything got more expensive by the day. I huddled up with several roommates. We shared a phone and a care between us...don't tell me about tough times...lol...
@@andyw6996 interest rates were high then, because in the 80s paul volcker raised them real high to fight inflation, unlike all the rest of the FED chairmans of the past 5 decades who just want to lower rates and keep asset prices rising to help the boomers and rich who own assets get richer.
Lowering interest rates allowed boomers to refinance their homes for cheaper payments over their years. While at the same time making them more expensive for the younger generations.
Now that interest rates are zero and looking like potential negative rates. Future generations are not going to see the same asset price appreciation of making money cheaper.
I can only wonder what other financial engineering the central bankers are going to come up with to keep this inner-generational ponzi scheme going. Maybe they will allow people to borrow further into the future like 50 year mortgages, or 100 year or even more. The future is unlimited, just push borrowing even further out into the future. Argentina just launched 100 year bonds last year. The FED has been talking about 50 year bonds here.
Bernie Sanders??? Who he? HAHAHAHAHA!!!!
You’ve probably got a much nicer home
Gen X couldn't go back home to Boomer parents cos they didn't want them "back in the house". The Latchkey Kids continued standing on their own two feet as that's the only life they knew from childhood. Why go where you're not wanted or welcome, or where the attached strings are as thick as ropes?
Exactly, I went to college and my room was gone. I was told to find my own way, cause they didn't want me "back in the house"
I'm a millenial and I was treated like that
@@marcritchie4968 Sadly more than one generation is capable of non-love. I hope life is going well for you.
@@lauriedmills7581 it was until millenial socialists attacked my business for the last 5 years. My business is not my money but my creation because I willed it into existence.
@@marcritchie4968 Sad to hear that. I'm glad that you see the truth about the socialist/communist ideology though. You sound resourceful - I wish you all the best as you respond to current times.
Would say the biggest shift was regarding our monetary system and dropping gold standard currency to fiat currency. Boomers had a big advantage funding everything with cheap money from future generations. Now with 0% and even negative interest economy, we don’t have any chance, just completely changing our monetary system. Let’s see where all that QE madness will take us.
I'm glad I'm a boomer and received the benefits of cheap money and a high-performing stock market. Do I care about the following generations? Yes, I care about my kids, but the following generations as a whole...not really. We did what we did to gain an advantage for our livelihood and retirement years, and now we're reaping the benefits.
Andy W hope those benefits will not end up quick.
The current generation has super cheap rates and booming stock market. The were 1-2 recessions every decade, 1950, 1960, 1970, 1980, 1990, 2000. Some of these were pretty serious like the 1970's oil crisis, 2000 dot com, 2008 credit crunch. Its not young vs old, its should be us versus THEM. Now go figure out who they are, they run the MSM and the central banks.
Morpheus I know market cycles and current with 0% interest we could compare with 1929 just before Great Depression. Just saying that Boomers hade advantage compared to millennials.
Don’t forget the SS benefits we’re chipping in on and likely wont see any return on that. Something else to thank the progressives for and yet another reason to continue fighting them.
This is the best way to teach history. Every history teacher should take notes!
Ed you're a great interviewer and listener.
Loved this piece! Thanks for the great content Real Vision Finance
I shared his work in the 90ies with my students. Glazed eyes for the most. A few lit up. There was and is hope.
Extortion for senior care. Lovely❤️
I would love to ask Neil, does "who your parents are" define who you are more than your birth year?
I am a late wave Boomer/Early wave GenX'er (1964) so my kids are Millenials (1995,1997,1999) and my parents are of the Silent Generation (1937,1939). As you have stated many times Millennials are risk averse and Silents are also risk averse. My children are very much like their grandparents, dating and marrying their high school sweethearts, saving money, helping the downtroden.
Is this common, where a generation is more like their grandparents than their parents?
I think it is.
I have been told I am textually like my grandmother by a few relatives. She valued education, was savvy with money, had a strong sense of family and believed in doing her share in the community too.
Nothing like my parents who lived their whole frivolous life at credit/debt and died without leaving anything for the posterity.
Nachannachle maybe we are so close to our parents to grow contemptuous of their behaviors and at the same time we see our more mature stable precious grandparents who maneuver through life with the benefit of wisdom as someone to model our lives. We emulate those whom we see as more stable, more successful.
Familiarity breeds contempt.
Yes
@@texastrustedoralsurgeon6830 so does breeding without parenting......
Yes, my parents were mid-Boomers with late Greatest Gen/early Silent parents. I'm a late Gen X and I relate much more to my grandparents than my parents.
Love to see boomers frame future economic uncertainty for millennials as a "retirement crisis" for them.
LOL
Haha
"when we go into another recession" he said one month before it struck. Skyrocketing spending and debt!! Maybe some higher taxes a year later, but still not settled. But we are in that creative moment, at least at the start of one. He was right that our "transition" is not smooth. It's transformation!
1 month ago , this interview sums up this week.
Neil is like a machine when he starts talking. The poor interviewer practically couldn't slip a comment past Neil
That was great! Millennial here. I really confirm everything you said about us. It does apply to me!
The people who really try and change things, particularly in this country, are usually ridiculed, demonized or simply assassinated, as our history shows and our present reflects. Trying to make everyone happy, secure and prosperous at the same time will be a difficult task. Having lived through these and those times I could never see the bigger picture because of the struggle that presented itself constantly in the now of my existence through the past. The family and the job was always at the forefront of my time. But now, while I have only myself to maintain, I see the hindsight of the mistakes and some few blessings. There will be a turning. But not in my remaining lifetime. If you can really see the now, feel it, know where it's coming from and react to avoid the mistakes, the wrong choices, the disasters; then you can make a difference. But you cannot stay quiet. You are duty bound by society to speak up. Because if you do not, you are going through time without a real purpose or life. You are just being. Our purpose in life is to be more.
Boomer talk
Looks alot like you’re projecting your values onto others..... and blaming your own youth for what amounts to your own failure to parent...... just because its so entirely similar among the boomers who bred lets no one off the very real accountability to parenting..... besides the fantasy of retirement is something you perhaps believed as you were told though no reality exists to substantiate as such where you are attempting to pass off such drivel yet again....... look deeper my friend it might be a reality that you abandoned your children as did so many others and then alienated them and held them responsible for what was never sufficiently presented..... the mess you leave behind has been cleaned with little success comparatively, never the less have you ever looked at the impact ? Who would benefit in “growing up” now..... only every one of us!
I think people just dont do well with change and get triggered when all you're familiar with is changed but sometimes its healthier!
Since Social Security system is a public trust fund and a pay_as_you_system. So if you want to take care of the old through retirement, help the younger generation get high paying jobs since we pay the taxes. So the taxpayers should be taking care of better than the older generation who is withdrawing out of the system. This is my take always help the next generation more to make the country better. That's how America should be run.
Neil Howe is awesome!!!!!
"riiiight, uh huh, yes, interesting"....super conversation
He knows very little about populism, but he's still knowledgable about generations, that's for sure.
Millenials see their parents as hypocrites and refusing to do things the same way. Forging their future slowly with empathetic thought proceeding their actions. They are not narcissistic egotists!!! Unlike the present leaders today!!!
Well--If we didnt bleed our National Wealth out to the world--just maybe we would HAVE the money to meet Social Security Obligations, Training for our young people, and building new infrastructure in the USA.
Howe states 20% of under 34 year olds live at home -- I've seen quotes as high as 50%.
Depends on your location.
Nothing wrong with 3 gen households. If they’re productive
Just saw this stat last week. it's 50% of 30 and unders that do now after covid (In america)
The thing that amazes me the most about the Boomers in Australia is this... Most of them can not use a computer... And they blame their age... I mean like seriously.. computer have been a part of our lives for 20 years!!😂
It's like you actually have to consciously decide to not learn 😂 and many of them are proud of it . Like yehh I not going to waste my life on that thing 😂😂😂 lol. Now they are focked, having to support themselves with just the equity in their home and no job for 20 years.
Maybe if they had at least a little tech skill they could semi retired with a computer job to keep going. But that's impossible for most of them BC they are essentially tech illiterate. And they did it to themselves. On purpose.
And what's worse for them is they spent the last ten years boasting and laughing at the younger gen not being to afford a home because the boomers made policies to price everyone out...
I don't see it ending pretty for them. Especially after today and 60billion wipped off the stock market and their supper.
Anyway. To summerises. There are some nice boomers. But most in Australia are horrible spoilt grumpy little people imo.
If your on this UA-cam you are most likely a nice boomer. So don't get too angry about this comment. It's not directed at you. 🙂👍🏼
Nice Boomers & horrible spoilt grumpy ones - the nice ones use computers/you tube - right - got it.
Boomers invented computers and the internet and the smart phone(remember Steve Jobs). So get off your high horse
No, I totally agree with you.
Warren Buffet couldn't turn a computer on.
These dinosaurs tell us Bitcoin is Rat Poison.
If you listen to these old guys you will be unemployable down the track.
I don't know all the answers but what I do know the world is a changing.
Adapt to change or get ready to be holding loose change!
@@vgeorge101 yeh. I'm not accusing all boomers. I'm saying most boomers did not learn. And they talk about it like it's something to be proud of. It's weird.
I will try keep up with technology forever.
It's a skillyou need to stay employable
@@falakoala4579 Boomers built the internet, telecommunications, cryptography, all forms modern transport. And the Luddite boomers, were building houses, farming, mining, raising families. There are many skills apart from technology. Can you build a house, make a chest of drawers, fix your car?
How does the individual who more identifies with an older generation (old soul if you will) fit into a generational model?
Interesting discussion around 28:10, about taxes and "unfunded liabilities". Neil says that GI's and Silents paid taxes that benefited Boomers in their youth; which allowed for "free" post secondary education (or "almost free"). But now, he says, the Boomers and Xers tell Millennials, "No, you pay for your own education." Here, in Canada, part of our taxes go toward lowering the cost of post-secondary (we are told); post-secondary costs have risen dramatically but I see the parents paying. In Toronto (Canada), half of millennials (according to the banks) depend on parents for down payment because it is absolutely necessary. Incredibly high costs for down payment (housing bubble in the greatest cities) and for university; low wages and high cost of living make it impossible for the millennials to pay it without "bank of mom & dad". It would be interesting to see statistics (USA); what percentage of millennials pay their university costs without parents' help. I'm sure many people pay their own way. Just wondering what percentage of students get $ from parents.
Collectivist
I see the Dems and Reps just shout at each other, vilifying each other, not listening, not thinking just glued to their ideology. It’s cheap, unproductive, unnecessary.
Let’s figure out what we want and need, let’s debate, let’s listen negotiate, think win win.
Multiple generations living together is nothing like years ago...neil is wrong here. Millenial live with parents as they have no jobs income...years ago parent lived with kids as the parents were unable to work and had no pension.
The league of nations was never “Wilson’s dream”. In fact is was the rich Jewish financiers dream.
i caught that but well done sir
Perhaps forgive tax on student loan but not the loan
Just have a schedule based on income. If you're making less than 35 grand a year you only have to pay 1 percent. And then you have a scale that goes up with income.
Confiscate the endowments given to universities tax free and pay off student debts. We should also force Universities to co-sign student loans. They should share in the risks and the outcome.
The credit binge/interest rate cycle is what shapes generational attitudes. It's simply the result of the wealth inequities created by that cycle. Boomers were so fortunate to have 40 years of diminishing rates.
33:45 LOL this is so true. You can call us Millenials the ETF/Index generation in the investment world.
If you WORKED forty years and complied with law regarding taxes et al YOU ARE NOT DEPENDENT, you merely need what you pre paid or were required to contribute returned to YOU. ie. Social Security Pension Medicare
You are a "dependent" because that money you paid in isn't there. SS requires new people paying in to pay for current withdraws
@@adama7752 The corrupt government created these ponzi schemes, not the general populace.
I wish they talked more about gen z this episode. What about me?
You guys aint even part of the workforce chill
@@turkbud802 I disagree. Lots of young people have part time jobs and contribute to the economy. I also dont like being lumped in with millenials thank you very much.
@@OrbitalAstronaut you know there are millenials in their mid 30s right
@@OrbitalAstronaut Don't worry, no chance you can be confused with a Millennial.
As teenagers, your generation believes in being YT star or TikTok celebrity, meanwhile us Millennials were talking about American hegemony and the War on Terror. :)
Nachannachle talk with no action other than posting
Bit of a globalist flavor to this interview at about the 14min mark. Not for me thanks but no thanks.
Seems to be a common thread among economists to be massive globalists and not be able to understand the trump and brexit phenomenon and what's behind them. Gdp Gdp Gdp..
In their view, the people is nothing more than a mass. No culture or spirit. Replaceable.
Boomers and Millennials, Boomers and Millennials, Boomers and Millennials.... Neil Howe bloviates about the same stuff over and over and over again. Gen X here - wake me up after the Boomers die.
Greens want "to slow down technological progress"? Wut? They want to protect the environment first and foremost. And when it comes to technology they want to accelerate the adoption of more advanced technologies.
Who was it that had the privilege that was telling their children that prophecy?
seems like pseodo-science babble to me; putting way too much emphasis on generational group-think, boomers don't all think alike or agree with each other, pretending that they do is like pretending that people born in the year of the rabbit are alike or that they aren't compatible with year of the tiger people. Give him credit for selling a lot of books though.
orioles70 he’s not discussing individuals. He’s discussing the block. You can be the opposite of everything he’s said about a particular generation bracket. But you’re generation bracket isn’t. And it dictates how the economy is moving and generally the social implications.
@@ilirsvenfrancous9011 well said
This did not age well.
He got the Greens really wrong.
"But here's my point...."
Our parents had pensions from their employers. We have can expect nothing from them. Our kids lived with us until they were 30. We could build nothing. Us boomers will have to work until we drop, probably at 80.
I'm in my late 60s and I'll never get what I put into SS working as self-employed. There is no free lunch for any generation.
Arnold Ziffel I’ve been putting in since I was 14, most of it self employed as well. Now we’re being told it was just a tax and we’re owed nothing.
You have to adjust your consumption standards both at home and per governance. Also things will become more multigenerational with the new economy, so you will need to redefine your vision of retirement to be more village based than the RV into the sunset. Do this, and there will be joy and cooperation. The alternative is generational war, as kids cant afford a place to live and grow anymore.
J Gannon I just said that I expect to work until I’m 80 years old. I’ll probably drop dead on the hospital cardiac unit, which is where I work.
@@TheKayzieMichelle Bless you. Just addressing that it's not only what you earn, but what you spend, and yesterdays standards are not viable anymore given the imbalanced economy. The young have had to adjust, yet I see reluctance on the part of the old. We are all in this together. Kindly.
He always jumps from the American war if independence to ww2
When he said that Stalin was not a big GENOCIDER, I got out of here.
jaddy540 - He actually said, laughingly, "He wasn't bad in the genocidal department!" And he was clearly being tongue-in-cheek! Duh!
this guys likes to go off in tangents. please stay focused. I lose interest when he goes off on a fancy.
Blather and nonsense without soul!
Ed Harrison is pretentious minus actual depth.
Lifelong libertarian here fed up with this inequality. Solution: take the 20 trillion debt out of boomer savings and pensions. Cut taxes. Let the boomers rot.
I have never given a thumb down to any UA-cam video. This is the first for me.
This guy saying baby boomers expect millennials to pay for social security is not true. Boomers expected their leaders to save the correct amount of money for retirement.
The leadership stole the retirement nest egg. Pensions are broke, I personally paid into social security and a pension. That money was intended for retirement. That money should be there for retirement.
The person stating boomers and generation x’s have not invested into infrastructure is also false.
Infrastructure must be continually maintained. Nothing gets built and lasts forever. Millennials enjoy a robust, developed infrastructure that was paid for by the generations that proceeded them.
In the last twenty years the amount of communication has exploded. No long distance, high speed Internet, low cost transportation, even cars. In the 1980’s a descent car cost 4 months salary of minimum wage. Now a descent car can be purchased for 1 month of minimum wage salary because there is such a huge supply of used cars.
Millennials have it made!!! Never in history have people been able to make huge amounts of money with little investment.
Watch the UA-cam videos showing the top earners on UA-cam playing video games. Unboxing toys, demonstrating makeup applications, car repair, stock trading, the only limitation is your imagination.
But the millennials are the champions of on thing. Millennials are the whiner generation. Hahahahaha
Gen X’s are the Pepsi generation. Millennials are the flushable wipey generation.
TheCanMan Can Since 1990 who is you guys?
These guys socially distanced before it was cool
shut up