The New Go-NoWhere Generation of Unemployed Young Adults

As if you hadn’t heard enough bad news about the economy, here is a story by Will Bunch of the Philadelphia Daily News, in the Post Gazette, about two young men, not far from me, actually, who are struggling in the supposed recovery. It’s a story about two young men but it speaks for millions of young adults in this country. A tale of the bleak future for the next generations.

It introduces terms such a “Mal-employed,” those educated but working in low paid temp jobs. And the “Go-Nowhere Generation,” which has little mobility and they live at home longer and get married later due to the economic times. We as a society have to ask: are these the best leaders we can elect, leaders that do this to the future generations? Here are a few excerpts from the article:

“The number of young adults in their 20s without jobs is the highest since record-keeping began after World War II, and their bleak outlook has barely improved even as the broader U.S. economy has seen a sharp increase in new hiring in recent months. For those like Mr. Cocchi, a young male with no college training, the 2010s have hit like a neutron bomb.

“I’ve never seen the world so bad for young people. The only way I can describe it is as a Great Depression,” said Andrew Sum, director of the Center for Labor Market Studies at Boston’s Northeastern University, who has studied young-adult unemployment in depth.

The statistics are grim. Only 55 percent of Americans in the 16-to-29 age bracket were working in 2010, down dramatically from 67 percent in 2000, but Mr. Sum said that the situation is even worse than those numbers indicate. That’s because millions of young adults are also underemployed, working part time while looking for a full-time job. Mr. Sum calls that “mal-employed,” which means holders of college degrees working low-end jobs.”

You can read the original article here.

I remember when this country had optimism. The youth knew there was a future for them and they were engaged in math and the sciences to learn how to solve the problems of society. I’m speaking of course, about the Kennedy years and all the optimistic possibilities that it held for the up and coming generation. We had a renewed sense of mission, that the U.S. will solve the problems of this county and help others to do the same. If we could put a man on the moon then we could accomplish almost anything.

Well, that optimism has been taken away over the years. The Viet Nam war, Watergate, space program budget cuts, faked Oil crises, other no win wars, lay-offs, downsizings, sending jobs overseas, unemployment and many more events took all that optimism away. Everything is centered around the budget, cutting this and cutting that. It’s an endless downward spiral of pessimissm and bleak future prospects.

Where did it all go wrong? And why would an optimistic generation allow such events to befall the next generations? And more importantly, how can we get it back? I’ll try to keep it short and simple here, but it goes back to the Kennedy assasination. Kennedy was actively fighting against Wall Street and their free trade policies of enslaving Americans financially through the Federal Reserve and the national debt. American had real growth and real optimism with Kennedy’s American System policies, just as Roosevelt [Franklin] had done earlier.

After the assasination, the Wall Street policy was put back in place and we’ve gotten numerous wars, downsizings, budget cuts, price increases and more, which has made some people on Wall Street rich while shrinking the middle class and creating this dead end future.

What we need to give the youth hope for the future is to return to the American System policies of a Roosevelt or Kennedy. That will create millions of new, productive high paying jobs in this country through massive building of infrastructure, industry and agriculture. The speculative Wall Street banking policies will have to be shut down through a new Glass-Steagal banking act and reintroduce national banking instead of the central banking of the Federal Reserve, which is not Federal at all. That will be the big political fight of this era.

Are you familiar with the American System of Political Economy?

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