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Thread: The Demographic Drought

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    The Demographic Drought

    "Author and Sr. Labor Economist Ron Hetrick dives deep into the demographic crisis, inflation, and the current sansdemic."

    In short, as the boomers retire, there's not enough workforce coming up behind them.

    Experience should teach us to be most on our guard to protect liberty when the government's purposes are beneficent. Men born to freedom are naturally alert to repel invasion of their liberty by evil-minded rulers. The greatest dangers to liberty lurk in insidious encroachment by men of zeal, well-meaning but without understanding.
    Louis Brandeis,Dissenting, Olmstead v. United States, 277 U.S. 438, 479 (1928)

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    Social Security is exposed as a Ponzi Scheme: current investors cover the payments to past investors (retirees).
    ΜOΛΩΝ ΛΑΒΕ


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    Dont worry the Democrats will just raise taxes more.
    Last edited by MMC; 11-24-2021 at 11:45 AM.
    History does not long Entrust the care of Freedom, to the Weak or Timid!!!!! Dwight D. Eisenhower ~

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    Quote Originally Posted by MMC View Post
    Dont worry the Deomcrats will just raise taxes more.
    That is exactly what they will have to do and SS will become Senior Welfare. Then they will start looking at your net worth to decide how much you deserve.
    Let's go Brandon !!!

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    Quote Originally Posted by carolina73 View Post
    That is exactly what they will have to do and SS will become Senior Welfare. Then they will start looking at your net worth to decide how much you deserve.
    Thats why they need to know.....whats in your wallet/bank account.

    Give them the answer.....Nunya. As in NunYa business.
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    The democrats broke the country and the GOP let them do it. Our "leaders" failed us and yet some of us want to give them total control over our lives.






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    Quote Originally Posted by The Booman View Post
    The democrats broke the country and the GOP let them do it. Our "leaders" failed us and yet some of us want to give them total control over our lives.
    It's demographic change beyond government control and, apparently, beyond the government's being able to react competently and effectively. I'm all for the people working it out.
    Experience should teach us to be most on our guard to protect liberty when the government's purposes are beneficent. Men born to freedom are naturally alert to repel invasion of their liberty by evil-minded rulers. The greatest dangers to liberty lurk in insidious encroachment by men of zeal, well-meaning but without understanding.
    Louis Brandeis,Dissenting, Olmstead v. United States, 277 U.S. 438, 479 (1928)

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    Years ago, I know that businesses started recruiting and training right out of high school and college and I know of a number of companies that used to have really significant training departments. They even let high schools and universities know what skills they wanted and how many people they would need in the coming years. If necessary, they would financially sponsor certain programs in schools to ensure they got the skills they needed.

    Then everything shifted and companies could pick and choose. They started demanding that even entry level positions be filled with college graduates. They also began looking at older workers like they were a financial drain and started letting older workers go in favor of younger workers and that younger worker model has persisted in many cases to this day. There was also a "your lucky to have a job" attitude in many workplaces and over time the concept of employee loyalty has disappeared and people simply jump around to achieve the advancement that they want. Many boomers have left the workforce because the general attitude to their age group hasn't encouraged them to stick around after the age of 55, so if they could afford to retire, they left. More recently employee retention has suddenly become an issue, but it's pretty much too little, too late. They did away with decent pensions and with that closed the door to any remaining reason for younger people to remain in jobs if they don't see regular raises and promotions.

    The pendulum has now swung the other way and panic is setting in. Millennials have a very different attitude toward the reliability of employment and are much more likely to be thinking in terms of starting and growing their own small internet based businesses. Many of those partially employed workers probably have home based businesses, so they don't want to work full-time for someone else. Since the advent of Covid, many people have become accustomed to working from home. They don't want to go back to commuting to and from the office.

    The recent dearth in immigration isn't entirely due to limited supply or Covid:

    "President Trump entered the White House with the goal of reducing legal immigration by 63 percent. Trump was wildly successful in reducing legal immigration. By November 2020, the Trump administration reduced the number of green cards issued to people abroad by at least 418,453 and the number of non‐​immigrant visas by at least 11,178,668 during his first term through November 2020."
    President Trump Reduced Legal Immigration. He Did Not Reduce Illegal Immigration | Cato at Liberty Blog

    I imagine that many of those lower skilled jobs that are going begging, would have otherwise been filled by those who were denied green cards.

    Long-term however, there is going to have to be a lot more automation and technology to make up for the lack of workers.
    Last edited by Dr. Who; 11-24-2021 at 11:53 PM.
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    Quote Originally Posted by Chris View Post
    It's demographic change beyond government control and, apparently, beyond the government's being able to react competently and effectively. I'm all for the people working it out.
    Its also the natural consequence of increased life expectancy. I think people sometimes forget that and in a sense that's a good thing, right!?!. What I think we should consider doing is to raise the retirement age while at the same time increasing the disability benefits for those over 65. Yes, there are people who will age quicker than average or they might very well be in occupations that wear them out.
    Last edited by Newpublius; 11-27-2021 at 01:42 PM.

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