Why You Will Be Poorer Than Past Generations

[jingorex]

WOW! europe is in bad shape!

glad i live in the USA

[coolfrenchguy]

The video sucked it as it does not even mention inflation but skirts around the topic.

1.) Inflation is a tax on the poor .

2.) For countries with large baby boomer populations, particularly, the US : Most of us will die poor. There is no way that systems devised to provide for mid-20th-century retirees will be able to cope in the mid-21st, with imploding demographics and a centenarian on every block. “Defined-contribution” pension plans will have to be baled out by the federal government, if private enterprise is to survive. The dollars we get from them will therefore be massively devalued. Since there is no one to bale out Social Security, benefits will soon be restricted to citizens more than 80 years old. Similarly for Medicare.

3.) As far as millenials being more socialist and supporting things like Obamacare : Quality health care for all is not possible. Quality health care is what rich people get. The rest of us must wait on line to be misdiagnosed by ill-trained, paperwork-swamped, litigation-shy doctors, assisted by nurses imported from the less hygienic parts of the Third World, and unionized hospital staff with no-way-you-can-get-me-fired attitudes. This could only change if the U.S.A. devoted its entire Gross National Product to health care; and even then, it probably wouldn’t stay changed for long.

yes it's sad because your different presidents haven't listen F.D Roosevelt,JFK and Jimmy carter,we, europeans and french in particular have heritate of the national council of resistance and have heritate directly from the second bill or rights of roosevelt ,something called the "universal medical cover" for the poorest ones,but it seems than for you,american citizens,than the banksters have decide at your place,i feel very sorry of you,bush,clinton,obama have betrayed the roosevelt ideals

It is our duty now to begin to lay the plans and determine the strategy for the winning of a lasting peace and the establishment of an American standard of living higher than ever before known. We cannot be content, no matter how high that general standard of living may be, if some fraction of our people—whether it be one-third or one-fifth or one-tenth—is ill-fed, ill-clothed, ill-housed, and insecure.

This Republic had its beginning, and grew to its present strength, under the protection of certain inalienable political rights—among them the right of free speech, free press, free worship, trial by jury, freedom from unreasonable searches and seizures. They were our rights to life and liberty.
As our nation has grown in size and stature, however—as our industrial economy expanded—these political rights proved inadequate to assure us equality in the pursuit of happiness.
We have come to a clear realization of the fact that true individual freedom cannot exist without economic security and independence. "Necessitous men are not free men."^[5] People who are hungry and out of a job are the stuff of which dictatorships are made.
In our day these economic truths have become accepted as self-evident. We have accepted, so to speak, a second Bill of Rights under which a new basis of security and prosperity can be established for all—regardless of station, race, or creed.
Among these are:

• The right to a useful and remunerative job in the industries or shops or farms or mines of the nation;
• The right to earn enough to provide adequate food and clothing and recreation;
• The right of every farmer to raise and sell his products at a return which will give him and his family a decent living;
• The right of every businessman, large and small, to trade in an atmosphere of freedom from unfair competition and domination by monopolies at home or abroad;
• The right of every family to a decent home;
• The right to adequate medical care and the opportunity to achieve and enjoy good health;
• The right to adequate protection from the economic fears of old age, sickness, accident, and unemployment;
• The right to a good education.

All of these rights spell security. And after this war is won we must be prepared to move forward, in the implementation of these rights, to new goals of human happiness and well-being.
America's own rightful place in the world depends in large part upon how fully these and similar rights have been carried into practice for all our citizens. For unless there is security here at home there cannot be lasting peace in the world.