Baby boomers are screwed economically

[MillCreek]

https://www.marketwatch.com/story/baby-boomers-are-struggling-in-their-60s-11612361312

Uh oh. Good luck finding a job in your 60's during COVID.

[Hawkmoon]

https://www.marketwatch.com/story/baby-boomers-are-struggling-in-their-60s-11612361312

Uh oh. Good luck finding a job in your 60's during COVID.

Tell me about it.

Oh, wait -- I'm in my 70s. Try THAT!

[Northwoods]

Hasn’t finding a job after 50 always been an issue?

[Nick1911]

Considering all the other info about the difficulty millennial's are having due to extreme housing prices and older workers staying in the workforce longer... Gen X isn't doing great with an average credit card debt of $8,215 and an average auto loan balance of $21,570...

The title should be "American's are screwed economically"

[zahc]

Agree that everyone is screwed. Even the article itself admits that the boomers started off with a huge tailwind. If they think they are having it rough now, what about those that are going to start out with mandatory $200,000 degrees, housing prices run up to the stratosphere, and a ballooning national debt that will inflate every consumable they need while eroding their real wages, all the while grinding against higher real taxes, tax bracket creep, increasing inheritance taxes, and higher energy costs caused by green policies?

Oh, I know, "those damn kids are just entitled and just need to stop complaining and work harder like we did... maybe if they didn't spend so much on coffee they could save up for a house down payment like we did back in the day..."

[MillCreek]

https://www.bbc.com/news/business-55932977

I know about the resume software that looks for key buzzwords as a screening tool, but now AI is being used for job screening.  The sort of jobs I hired for never had so many applicants that I could not individually review each application, but I can see how if you have hundreds or thousands of applicants, you need some means of a first pass screening. 

[brimic]

Shoot, Inwas planning on retiring in my mid-50s, but thats not going to happen anymore with my current divorce costing me well into 6 figures. If the government doesn’t take it, the lawyers and exes will.

[tokugawa]

Once the hyperinflation hits we will all be in the same boat cash-wise. Assets wise there will be a world of difference.

 I don't know if this is true, but read somewhere that after hyper inflation in some countries, the banks had enough pull to have the debts revalued in the new currency, thus wiping out their depositors (devaluved money) and protecting their own loans. (new money)

[Northwoods]

Once the hyperinflation hits we will all be in the same boat cash-wise. Assets wise there will be a world of difference.

 I don't know if this is true, but read somewhere that after hyper inflation in some countries, the banks had enough pull to have the debts revalued in the new currency, thus wiping out their depositors (devaluved money) and protecting their own loans. (new money)

In a just world said bankers would be swinging from the nearest lamppost.  Alongside the politicians who allowed it.

[lee n. field]

https://www.bbc.com/news/business-55932977

I know about the resume software that looks for key buzzwords as a screening tool, but now AI is being used for job screening.  The sort of jobs I hired for never had so many applicants that I could not individually review each application, but I can see how if you have hundreds or thousands of applicants, you need some means of a first pass screening.

You didn't know that?  Been that way for a long time.

[Ben]

You didn't know that?  Been that way for a long time.

Back when Uncle Sugar hired me, it wasn't AI, but a simple computer program that screened initial applications to separate out those that would be rejected and those that would get to round 1 of human inspection. It was a common joke, but also the way it worked (and my future boss even told me to do it), that in the online application, where they ask for your expertise on various subjects, that you always mark "expert" on everything. That's because less than that, and the program would reject your application. So really, it didn't cut down on human work much at all, since most people knew the workaround.