Millennials, the 80 million Americans born between 1980 and 2000, are going to have to inherit the huge mess that was created. The messes the older generations created are so bad that America may already be passed the point of no return. There are 10 megatrends destroying the future for Millenials.
By Paul B. Farrell
June 12, 2013, 12:02 a.m. EDT
Market Watch
SAN LUIS OBISPO, Calif. (MarketWatch) — Wake up, Millennials: Yes, you 80 million Americans born between 1980 and 2000. You’re the biggest. But regardless what that Time cover story says, you’re not America’s New Greatest Generation. Not yet.
Yes, you are inheriting the huge mess we created. But Time adds, “Millennials will save us all?” Save us? Save America? Save the world? When? Later? Well, if you buy into that hype ... if you’re that narcissistic ... if you believe you’re “destined” to be the New Greatest, you’re in denial.
Yes, maybe someday. But not yet. And maybe never. Maybe the messes older generations created are so bad, America is already past the point of no return. Maybe.
Wake up, Millennials, you are in denial. Not about your individual dreams. No, about the future of your country. About our collective future in the years to 2050. Denial? Big time. You’re in denial about who and what’s killing the future.
So you disengaged? Warning: Later will be too late. Past the point of no return. Nothing left. And no time left to correct the mess we keep making today, have been for decades. No time for you to save yourselves, your future.
Yes, you want to succeed, a future all yours. Different, unique, personal to you. But as Time put it, you’ve disengaged: “Millennials aren’t trying to take over the establishment, they’re growing up without one.” Bad news. Why? By default, the “authorities” Millennials don’t trust ... they still rule ... their capitalism has lost its moral compass ... they’re still making matters worse.
Not just Millennials. Nobody trusts anybody connected to America’s “mutant capitalism,” as Jack Bogle calls this conspiracy of greedy authorities: Congress has a 6% approval rating, bows to special-interest capitalists ... Old men, old thinking, trapped in a 19th century time warp ... while lobbyists run America ... Wall Street casinos set the odds, skim a third of your winnings ... corporate CEO pay skyrockets, as workers wages flat-line ... generals talking like oversexed teenagers ... heath-care executives hate sick people ... the list is endless ... America is a mess.
Wake up, Millennials, get in the game, old guys are killing your future
But if you Millennials think you can ignore America’s leaders today, clean up the mess later, you’re wrong. Everything the old-guy rulers do today will have a huge long-term impact on your future — all their bad policies, tax laws, immigration, voting rights, guns, courts, etc.
Wake up. While you stay disengaging from today’s “authorities,” what they’re doing now is sabotaging your future, your country’s future for decades to come. They’re screwing you up, every day, killing the promise of your New Greatest Generation. You’re stuck with the dark consequences of these capitalists dreaming of power and wealth. And you are helping them.
Wake up. If you wait till today’s “authorities” die off to take over as leaders, it will be too late to save your future. Why? Your future is being destroyed by America’s once-great capitalist economic engine. America’s once-great capitalist economy is dying. Fast. What worked for the American dream from 1776 has ended.
11 self-destructive Doomsday Capitalism trends billionaires love
Yes, Doomsday Capitalism is killing America. Years ago we began defining these 10 self-destructive trends driving the authorities running America. This soulless capitalist virus is eating our moral conscience from within. And while this means doomsday for all, capitalists love them, actually get rich off these 10 megatrends. They keep up the happy talk so you can’t hear the coming storm. For them, capitalism is now a religion. Once great, now a dark saboteur, a vampire draining our souls.
Here are summaries of the 10 megatrends destroying the future for Millennials, a perfect storm, a bubble creating a critical mass, and a doomsday flashpoint:
1. Doomsday Capitalism: death of the American dream, spirit, soul
After our bankrupt Wall Street was resurrected in 2008 it became obvious capitalism was killing America’s soul. Sen. Bernie Sanders said it best: “There is a war going on in this country … waged by the wealthiest people in America on the disappearing and shrinking middle class of our country. ... billionaires ... want more, more, more. Their greed has no end ... unconcerned for the future of this country ... if it gets in the way of their accumulation of power and wealth.”
2. Doomsday Democracy: Mutant Capitalism killing We The People
“All men are created equal” is a quant political fiction. The voting public has no real say. Wealth buys votes, a naive public is easily manipulated, lobbyists rule and all elected officials have a price. Democracy died in Jack Bogle’s “The Battle for Soul of Capitalism.” Today, Wall Street and the insatiable Super-Rich 1% rule America. They love unregulated free-market speculative gambling. They are setting up a massive new meltdown.
3. Doomsday Conspiracy: Wall Street is now capitalism’s Invisible Hand
The Super Rich are no longer in the shadows. A conspiracy of Wall Street, corporate CEOs, politicians and the Forbes 1,426 billionaires operates openly, with an arrogant love of money corrupting our nation’s soul, their souls, your soul. This open conspiracy of neocapitalists has no moral compass, yet is legal thanks to their high-priced lobbyists, buying favorable laws, making even the most unethical, selfish, corrupt behavior “legal” by fiat.
4. Doomsday Politics: Monopoly of Super-Rich Anarchists rules America
Forget buzzwords like oligopoly, plutocracy, socialism. Today Washington is a monopoly played as pure anarchy, a game for thousands of high-priced lobbyists squeezing the best deals out of America’s budget, solely for their clients’ interests, never the public. There are 261,000 lobbyists all fighting for a slice of a $1.7 trillion federal budget pie — regulations, earmarks, tax exemptions, loopholes, loans, access, agency appointments, defense contracts, you name it — endless tricks that further consolidate power and wealth at the top.
5. Doomsday Economics: Growth is a numbers game for capitalists
The idea of “growth or die,” once a given, is being challenged by new “growth and die” environmentalists, But they’re losing in a bizarre “numbers racket” used by economists to hide the truth, manipulating investors, consumers, voters, the public. All economists are biased, all with political agendas, ignoring long-term consequences. Global population will increase by 40% by 2050, yet economists keep pretending natural resources are unlimited.
6. Doomsday Neuroscience: The broken promises of behavioral science
Back in 2002 behavioral science offered hope: Psychologist Daniel Kahneman won the 2002 Nobel Prize in economics, exposing Wall Street’s myth of the “rational investor.” The promise: We’ll help you retrain your brain to make better decisions, be “less irrational.” Wrong, your brain will always be irrational. So today, Wall Street hires the top neuroscientsts to run their casinos. To manipulate you better. The house always wins.
7. Doomsday Technology: Innovations, derivative casinos, the Singularity
Sophisticated new technologies, mathematical algorithms and neuroscience all guarantee Wall Street insiders huge margins gambling in their derivative casinos, leveraging deposits from Main Street’s ‘dumb money.” Average investors are no match for Wall Street’s “high-frequency traders” who always win on this rigged playing field. And yet, naive Main Street investors just keep betting despite statistics proving the “more you trade, the less you earn.”
8. Doomsday Warfare: Pentagon math — population + commodities = wars
A decade ago the Pentagon predicted by 2020 “warfare will define human life.” Global population up 40% to 10 billion by 2050, the “mother of all national security issues ... massive droughts, turning farmland into dust bowls and forests to ashes ... pushing the climate to a tipping point. By 2020 there is little doubt that something drastic is happening. As the planet’s carrying capacity shrinks, an ancient pattern reemerges: the eruption of desperate, all-out wars over food, water and energy supplies and warfare defining human life.”
9. Doomsday History: This time really is different — the Final Meltdown
Bubble/bust cycles happen regularly over many centuries. Lessons never learned. Euphoria blinds us in boom times. We deny risk. Blow bubbles. Meltdowns happen. In ”Rise and Fall of the American Empire”, historian Niall Ferguson warns “collapse may come much more suddenly than many historians imagine.” Nations “at the very peak of their power, affluence and glory, see leaders arise, run amok with imperial visions and sabotage themselves, their people and their nation.”
10. Doomsday Investing: Survival strategies for a post-capitalism world
Former Morgan Stanley guru and hedge fund manager Barton Biggs offered investors a doomsday strategy in “Wealth, War and Wisdom”: Yes, there’s the “possibility of a breakdown of the civilized infrastructure ... think Swiss Family Robinson, your safe haven must be self-sufficient, capable of growing food, well-stocked with seed, fertilizer, canned food, wine, medicine, clothes. And be ready to fire a few rounds over the approaching brigands’ heads, to persuade them there are easier farms to pillage.” Start preparing now for the final chapter of “Doomsday Capitalism.”
11. Doomsday Civilization: Has America passed the Point of No Return?
Can we deflect the trajectory? Yes, but we would need a fundamental shift in our leaders thinking, says Jared Diamond in “Collapse,” leaders with “the courage to practice long-term thinking, and make bold, courageous, anticipatory decisions at a time when problems have become perceptible [like in 2011] but before they reach crisis proportions.” Unfortunately, says Jeremy Grantham, whose firm manages $100 billion: “It’s more or less guaranteed that every time we get an outlying, obscure event that has never happened before in history,” like 2008, America’s leaders “are always going to miss it.” Myopic capitalist think short-term profits, will always miss the next big one.
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