Past performance is no indicator of future performance…

…but try telling that to my generation or the Gen Y generation.  Ann Althouse speculates that Baby Boomers have indoctrinated the young people to believe, deeply and emotionally, in the entitlement programmes that are crippling America.  David Brooks had asked why young people are going along with their own demise – sacrificing our own chances of building a stable future so that the Boomers may have everything.  (As I’ve often pointed out, ObamaCare transfers wealth from the elderly and the young to the wealthiest cohort of people – the Boomers. Thanks, guys!)

I’m not sure that it’s a deep and emotional connection that keeps young people voting for ever-larger entitlements: it’s the fact that, despite a $16 trillion national debt (of which Obama is responsible for $6 trillion), unfunded liabilities in the tens of trillions of dollars, and other horrifically scary economic statistics, America keeps chugging along.  How, they ask, could there really be a problem, when the Social Security checks are still being sent on time?  How is it a problem when Granny gets he second hip replacement?  Oh, we’re borrowing money to pay the interest on money we’ve borrowed – but that can’t mean a problem in the future, since it’s not having any discernible effects now.Psychological studies show that humans are really bad at thinking decades into the future, and young people are especially bad at it.  Whaddya mean, crisis?  You’ve been yammering about this crisis my entire life, which is like, totally long – do you know what high school is like? – and nothing has happened.  America is still rich, Bill Gates is rich, Warren Buffett is rich, and you think that there’s not enough money to go around?  This magical crisis will one day appear?  Yeah, right.  Where’s my Obama bumper sticker?Young people simply lack the perspective to see how slow decay, continued over many years, will cause a crisis.  They haven’t seen enough other “oh, that will never happen” crises turn into actual problems to understand how this will happen. They are good stooges for the Boomers.



Filed under Economics

2 responses to “Past performance is no indicator of future performance…

  1. Pingback: Past performance is no indicator of future performance… | talytamiranda

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