Comments on: Everything Was Looking Up With the Baby Boomers http://www.dailyreckoning.com.au/everything-was-looking-up-with-the-baby-boomers/2009/10/28/ An independent perspective on the Australian and global investment markets Sat, 20 Mar 2010 11:23:03 +0000 http://wordpress.org/?v=2.8 hourly 1 By: Pete http://www.dailyreckoning.com.au/everything-was-looking-up-with-the-baby-boomers/2009/10/28/comment-page-1/#comment-113865 Pete Sun, 01 Nov 2009 10:31:42 +0000 http://www.dailyreckoning.com.au/?p=7367#comment-113865 Here is an article about Generation Z (I referred to them as C): http://www.dailytelegraph.com.au/property/gen-y-hold-tight-to-money/story-e6frezt0-1225792920010 According to that article, Generation Z are actually saving money. On the other hand, Gen Y: "...Gen Y, who, now aged 19 to 30 years, are responsible for more than one third of Australia's total consumer credit defaults, despite only constituting one fifth of the entire credit card holding population." No surprise given the marketing and financial packages pushed at them. I just found it interesting that Gen Z might actually buck the trend a bit. But, the article did quote one of them as saying they were still looking to buy a house in the future...which goes to show they don't look at the trend too much. It'll be interesting to see how it all plays out - I still stand by what I have said, but I am very interested in this supposed turn-about. Here is an article about Generation Z (I referred to them as C):
http://www.dailytelegraph.com.au/property/gen-y-hold-tight-to-money/story-e6frezt0-1225792920010

According to that article, Generation Z are actually saving money.

On the other hand, Gen Y:
"...Gen Y, who, now aged 19 to 30 years, are responsible for more than one third of Australia's total consumer credit defaults, despite only constituting one fifth of the entire credit card holding population."

No surprise given the marketing and financial packages pushed at them.

I just found it interesting that Gen Z might actually buck the trend a bit. But, the article did quote one of them as saying they were still looking to buy a house in the future...which goes to show they don't look at the trend too much.

It'll be interesting to see how it all plays out - I still stand by what I have said, but I am very interested in this supposed turn-about.

]]> By: Goldwing http://www.dailyreckoning.com.au/everything-was-looking-up-with-the-baby-boomers/2009/10/28/comment-page-1/#comment-112661 Goldwing Fri, 30 Oct 2009 07:37:56 +0000 http://www.dailyreckoning.com.au/?p=7367#comment-112661 The boomers do the great train robbery and Gen Y does this: http://www.smh.com.au/world/robbers-caught-using-the-worst-disguise-ever-20091030-hobx.html?autostart=1 But also, I have heard of a boomer safe cracker who used so much explosive the paper money atomized whilst coins were embedded in the bank's brick walls. The boomers do the great train robbery and Gen Y does this: http://www.smh.com.au/world/robbers-caught-using-the-worst-disguise-ever-20091030-hobx.html?autostart=1
But also, I have heard of a boomer safe cracker who used so much explosive the paper money atomized whilst coins were embedded in the bank's brick walls.

]]> By: Greg Atkinson http://www.dailyreckoning.com.au/everything-was-looking-up-with-the-baby-boomers/2009/10/28/comment-page-1/#comment-112577 Greg Atkinson Fri, 30 Oct 2009 04:42:21 +0000 http://www.dailyreckoning.com.au/?p=7367#comment-112577 Pete thanks for the link again. Yes they are very applicable to Oz..it's scary actually! Pete thanks for the link again. Yes they are very applicable to Oz..it's scary actually!

]]> By: Pete http://www.dailyreckoning.com.au/everything-was-looking-up-with-the-baby-boomers/2009/10/28/comment-page-1/#comment-112484 Pete Fri, 30 Oct 2009 01:10:32 +0000 http://www.dailyreckoning.com.au/?p=7367#comment-112484 Greg I confess that I didn't discover the 'resource curse' and 'dutch disease' all on my lonesome. A commenter on a blog mentioned it here: http://petermartin.blogspot.com/2009/10/who-admires-their-country-most.html Still, they're pretty interesting to read about on wikipedia - and astoundingly applicable to us here in Australia. Greg I confess that I didn't discover the 'resource curse' and 'dutch disease' all on my lonesome. A commenter on a blog mentioned it here:

http://petermartin.blogspot.com/2009/10/who-admires-their-country-most.html

Still, they're pretty interesting to read about on wikipedia - and astoundingly applicable to us here in Australia.

]]> By: prozak http://www.dailyreckoning.com.au/everything-was-looking-up-with-the-baby-boomers/2009/10/28/comment-page-1/#comment-112246 prozak Thu, 29 Oct 2009 15:45:24 +0000 http://www.dailyreckoning.com.au/?p=7367#comment-112246 Ange, My statement is not about class. It is about 17,000 years of evolution. Did i mention anything about breeding? Lets hear about your own classest crap that is evident in you assuming I said that. And yes. The poor have less chance of having a high enough IQ and the opportunities to change their life. Ange,

My statement is not about class. It is about 17,000 years of evolution.

Did i mention anything about breeding? Lets hear about your own classest crap that is evident in you assuming I said that.

And yes. The poor have less chance of having a high enough IQ and the opportunities to change their life.

]]> By: Greg Atkinson http://www.dailyreckoning.com.au/everything-was-looking-up-with-the-baby-boomers/2009/10/28/comment-page-1/#comment-112129 Greg Atkinson Thu, 29 Oct 2009 13:02:06 +0000 http://www.dailyreckoning.com.au/?p=7367#comment-112129 Pete regarding Australia I think you hit the nail on the head a while back when you mentioned the "Resource Curse" (either here or over at shareswatch) I think we can over complicate things at times, isn't it simply a case of when things get easier we just get softer or are less eager to push ahead and make sacrifices? Pete regarding Australia I think you hit the nail on the head a while back when you mentioned the "Resource Curse" (either here or over at shareswatch) I think we can over complicate things at times, isn't it simply a case of when things get easier we just get softer or are less eager to push ahead and make sacrifices?

]]> By: Pete http://www.dailyreckoning.com.au/everything-was-looking-up-with-the-baby-boomers/2009/10/28/comment-page-1/#comment-112084 Pete Thu, 29 Oct 2009 11:22:12 +0000 http://www.dailyreckoning.com.au/?p=7367#comment-112084 Great post Dan - I think you say it better than I do. "So, Gen Y's are entering a world where the tools of statecraft are sharper and more highly refined than ever." And that is a particular issue. The people who created and understand these tools / mechanics are retiring and the newer generations won't understand how they work. Most won't realise that things can be any different than they are...because they weren't alive before these things existed. We'll certainly see anyway. People still being people regardless of their generation. Though there are certainly differences - compare boomers to the silent generation for example. Great post Dan - I think you say it better than I do.

"So, Gen Y's are entering a world where the tools of statecraft are sharper and more highly refined than ever."

And that is a particular issue. The people who created and understand these tools / mechanics are retiring and the newer generations won't understand how they work. Most won't realise that things can be any different than they are...because they weren't alive before these things existed.

We'll certainly see anyway. People still being people regardless of their generation. Though there are certainly differences - compare boomers to the silent generation for example.

]]> By: Greg Atkinson http://www.dailyreckoning.com.au/everything-was-looking-up-with-the-baby-boomers/2009/10/28/comment-page-1/#comment-112079 Greg Atkinson Thu, 29 Oct 2009 11:01:31 +0000 http://www.dailyreckoning.com.au/?p=7367#comment-112079 I remember when we use to talk about the economy, stocks and argue about gold prices :) I remember when we use to talk about the economy, stocks and argue about gold prices :)

]]> By: Dan http://www.dailyreckoning.com.au/everything-was-looking-up-with-the-baby-boomers/2009/10/28/comment-page-1/#comment-112075 Dan Thu, 29 Oct 2009 10:39:39 +0000 http://www.dailyreckoning.com.au/?p=7367#comment-112075 The intelligence argument doesn't really apply, prozak - it's not as simple as that. Migrants to Australia, including refugees, have come from a whole range of social backgrounds, including the intelligentsia of their respective countries. Ange, I agree with you re: the poor do not automatically have lower IQ's. But in Australia the brightest (who before pay-as-you-go uni degrees came from all over society) get caught up in lengthy education pathways (university) with lengthy post-graduate education pathways and are having children too late and too few. That doesn't seem right to me. The intelligence argument doesn't really apply, prozak - it's not as simple as that. Migrants to Australia, including refugees, have come from a whole range of social backgrounds, including the intelligentsia of their respective countries.

Ange, I agree with you re: the poor do not automatically have lower IQ's. But in Australia the brightest (who before pay-as-you-go uni degrees came from all over society) get caught up in lengthy education pathways (university) with lengthy post-graduate education pathways and are having children too late and too few. That doesn't seem right to me.

]]> By: Ange http://www.dailyreckoning.com.au/everything-was-looking-up-with-the-baby-boomers/2009/10/28/comment-page-1/#comment-112059 Ange Thu, 29 Oct 2009 10:20:33 +0000 http://www.dailyreckoning.com.au/?p=7367#comment-112059 So prozak you're admitting that you have a lower IQ because you came from immigrant (therefore according to your theory less intelligent) parents. I was enjoying the argy-bargy discussion up until your classist crap about the poor automatically having lower IQs and breeding too much. Typical bloody Gen-Y. So prozak you're admitting that you have a lower IQ because you came from immigrant (therefore according to your theory less intelligent) parents. I was enjoying the argy-bargy discussion up until your classist crap about the poor automatically having lower IQs and breeding too much. Typical bloody Gen-Y.

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