Apparently, the older generation, their retirement wealth smashed by falling home prices and CDs paying essentially nothing thanks to Bernanke's bailout of Wall Street plutocrats, are staying in the workforce. And in a capital strike world where the real cost of employment is soaring (thank you Obamacare and rising minimum wage rates) that means that younger, les experienced employees can't use their only advantage: cheapness to compete with older, more experienced talent. That is unless you are the child of the affluent and can take an unpaid 'internship' that daddy got you - somehow the experience builders for the elite's children aren't subject to minimum wage or benefit laws - I wonder why?
But falling labor participation and a shift towards more experienced, productive workers with the least, lightest and brownest sitting on the dole is the essential profile of social 'democracy'. So maybe all we are doing is becoming fully 'European'. Pity it's at the time that the Euro model is collapsing.
But I don't think our Lords in Washington and New York think that way - they have more power and wealth at the center than they've ever had before so everything's hunky dory. Right?
Now all we need to complete the Euro model is viciously regressive tax policies like VAT and country income tax rules. Because we all know that the proles have to bear the brunt of social 'democracy' - after all, they can't run like our Lords and Saviors can.
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