Alan Greenspan: It's the Gen-Xers Fault They're Out of Work

[KR McKay]

I would say, "UNBELIEVABLE," but...no, it's believable...

http://www.foxbusiness.com/markets/2011/07/13/alan-greenspan-its-gen-xers-fault-theyre-out-work/?utm_source=feedburner&utm_medium=feed&utm_campaig n=Feed%3A+foxbusiness%2Flatest+(Internal+-+Latest+News+-+Text)

Alan Greenspan: It's the Gen-Xers Fault They're Out of Work
By Elizabeth MacDonald
Published July 13, 2011
FOXBusiness

Former Federal Reserve chairman Alan Greenspan said in a recent interview that the U.S. is suffering from an unproductive youth movement in the labor force, and that companies don’t want to hire these young folk. Greenspan also said that U.S. companies would be better off hiring immigrants.

I yield the floor to FOX Business Director of News Ray Hennessey:
Apparently the problem with the American jobs picture is the American worker.
At least that’s what Alan Greenspan thinks.
We are, he says, too young, dumb and unproductive as a workforce. The Baby Boomers were better, finding ways to do more with less, but they are retiring in droves. As they hit the links, their ranks of replacements don’t measure up.

Here are his [Greenspan’s] words, in an interview with The Globalist:
"Baby boomers are being replaced by groups of young workers who have regrettably scored rather poorly in international educational match-ups over the last two decades. The average income of U.S. households headed by 25-year-olds and younger has been declining relative to the average income of the baby boomer population. This is a reasonably good indication that the productivity of the younger part of our workforce is declining relative to the level of productivity achieved by the retiring baby boomers. This raises some major concerns about the productive skills of our future U.S. labor force."
There is, sadly, much truth in what he says. The degradation of our educational system, thanks to a lack of accountability and a general resistance to innovation, is well-documented.

It has been difficult for American students to keep pace with those from overseas when viewed through the lens of quantitative, objective metrics like standardized tests.

But the lack of productivity Greenspan frets over can arguably also be set at the feet of our growing entitlement culture, which we explored in some detail several weeks ago for Entitlement Nation Week. Being a productive worker means having a commitment to honest labor.
That has eroded as more people have relied upon the federal government for the growth of their household wealth. That, in turn, has led to a troubling change in attitude in this country.

As [Pulitzer prize winning syndicated columnist] George Will put it, “Americans, endowed by their solicitous government with an ever-expanding array of entitlements, now have the whiny mentality that an entitlement culture breeds.”

The question then becomes, “How do we fix this?” To Greenspan, it is to “Go West, young man.” Or East, North and South for that matter. Just go anywhere else but here and find someone who is willing and able to work:

"Most high-income people in our country do not realize that their incomes are being subsidized by their protection from competition from highly skilled people who are prevented from immigrating to the United States,” Greenspan said. “But we need such skills in order to staff our productive economy, so that the standard of living for Americans as a whole can grow."

Think of that last line for a moment. We need to import labor – intelligent, skilled labor – to guarantee that Americans’ standard of living is maintained.

Have we indeed fallen so far?

©2011 FOX News Network, LLC. All rights reserved.

[Lily]

Well, I suppose there could be truth to this. Raising kids to not work hard will produce these kind of results. I'm thinking that these results were the desired results though, the public school system has been in charge of the kids. Doesn't Greenspan know that? So what's his point?

[GlennO]

Not all folks fit the generational template..... but I do agree GenX is in a tough spot primarily due the deterioration of the education system fostered by the big government and (including the SCOTUS decisions) and the state claiming ownership of the children. Recent history of our economic depression will likely generate a new category of workers over 50 who have lost jobs willing to work, but will never again attain full employment (The Rusted?).

Generation labels, from GIs to Millennials

By The Arizona Republic

Generations pastand present:GI Generation: Born 1901-26. Their Depression was the Great One, and their war was the Big One. They were assertive, energetic team players. Members: Joe DiMaggio, John F. Kennedy and Judy Garland.
Silent Generation: Born 1927-45. Considered cautious, unimaginative and withdrawn, they grew up in a time of conformity. They needed a cause. Members: Jim Henson, Bob Dylan and Aretha Franklin.
Baby boomers: Born 1946-64. Nurtured by their parents, they grew up believing anything was possible. They're idealistic and not done changing the world. Members: Al Gore Jr. and Steven Spielberg.
Generation Jones: Born 1954-64. A subset of boomers, these are people who missed out on revolutionary 1960s and still want to make their mark. Some have: Oprah Winfrey and Bill Gates.
Generation X: Born 1965-81. Sometimes called Thirteeners, they are latchkey kids who grew up smart, but isolated. Entrepreneurial, independent, savvy. Members: Uma Thurman, Beyoncé Knowles and Vin Diesel.
Millennials: Born 1982-present. They're optimistic, focused and nurtured by ever-present parents. They schedule everything and feel pressured by time. Members: Prince William, Kirsten Dunst and LeBron James.
Sources: The Generational Imperative (www.genimperative.com) and Generation Gap (library.thinkquest.org).


Copyright © 2004 The Seattle Times Company

[GlennO]

KR-

Having mulled over your OP, I can't really tell from the emoticon you used, whether you are angry, offended, or just plain disgusted with the reality as Greenspan articulated the predicament we are in as a whole . Maybe all of the above?

[Carl]

It is really a complicated issue. On one hand you need an education to succeed. On the other hand the schools are not doing what they are supposed to be doing. Used to be that schools were to teach children how to read the Good Book with understanding. Now it is for turning our children into good little girls and boys that conform to whatever the schools want them to be like.

Then there are the unions that push for workers rights whatever that is. On the other hand the unions came into being because of unrighteous employers. I worked with the last engineer in Michigan that got his PE without a college education. Used to be that if you could demonstrate that you knew what you were doing by passing the state exam you were qualified. Now you learn all the theory and no practical knowledge. Kids sit and watch television rather than keep their bike fixed so they can ride it or make their own toys to play with.

Many have given up on government because politicians have lied through their teeth to get votes. Meanwhile many of the good jobs have gone across the pond. Mostly not because it is cheaper or the workers are better. It is because our government has made doing business to expensive in this country.

Don't tell me that our workers aren't as productive as elsewhere in the world. Let Greenspan stand in front of an open incinerator door with a 20 foot long 1.25 inch diameter steel rod chipping the slag out of the incinerator for 8 hours a day. Or spend the day shoveling the human and industrial waste back on the conveyor belts. Let these guys stack hay bales in an unventilated barn when it is 95 degrees outside. Repair their own car. Fix their own faucets. Shovel their own snow.

I like Fox News, but some of the stuff that they report is just a parroting of what other news sources report.

ya we got lots of problems but you can't just blame the labor. A good share of it comes from the top.

[Carl]

Sorry gang it was a double post. Got in an argument with the server I guess.