Support
Looper's Delight
|
Support |
|
|
"On 7/22/64 11:59 AM, Elmer Fuddski wrote:
This is a truly eye opening essay. The contrast between General Motors and Apple is a very powerful one. Without being able to articulate it, my sense having lived in the US since 1959 (when my family returned form an American Air Force base in Triploi, Libya) is that over time, the powerful, the privileged and the wealthy keep winning and the general American pubic keep losing. The contrast in this article between the approach of the Japanese and the Germans, viz a vis high tech is also very strong. I also read, concurrently today, statistics about the increase in economic disparity between old people and young people In 1984 the average 65 year old had 10 times the assets of the average 25 year old..........in this latest study (in 2009) the average 65 year old has 47 times the assets of the average 25 year old. http://abcnews.go.com/blogs/business/2011/11/age-gap-rises-in-economic-well-being/ To quote: " The rich aren’t just getting richer, but wealthy older Americans are noticeably better-off than their counterparts from three decades ago in several areas like income, employment, home ownership and housing values. It may be no surprise that older Americans are wealthier than younger ones. But a new study from Pew Research Center analyzed the economic well-being of current older and younger adults to those in the past and found that the age-based wealth gap skyrocketed 47:1 in 2009 compared to 10:1 in 1984. In 2009, the median net worth of households headed by adults aged 65 and older was 42 percent more than the same age group in 1984. In contrast, the net worth of households headed by an adult under 35 in 2009 was 68 percent less than the same age group in 1984. “These age-based gaps widened significantly during the sour economy of recent years, but all key trends are several decades old, indicating that they are also linked to long-term demographic, social and economic changes that have affected different age groups in different ways,” Pew said in a statement. These
changes include structural changes in the labor and housing
markets, delayed marriage and retirement, and the changing racial
and ethnic composition of the population.
|