BET Reports: Black Teens Are Fired When the Minimum Wage Rises

As we’ve argued many times before, arbitrarily raising the minimum wage, particularly to a level which is far above the real wage rate is an idiotic move. It creates unemployment for low wage earners, and in many cases for the people who formerly employed low wage earners. A “living wage” sounds nice. It sells to economically unsophisticated people. But a job doesn’t suddenly become “worth” more just because the government declares that it is. One can not revoke gravity. Likewise one can not revoke supply and demand.

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The vast generational divide at this year’s CPAC

A great report. I certainly saw this first hand at CPAC this year. Liberty (generally) is what drives today’s young “conservatives.”

And it’s not entirely generational. I think many of the older folks are coming along, just fewer of them in relative terms.

I didn’t see many Huckabee 2016 signs that’s for sure.

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29% of US adults under 35 live with their parents

“So…How’s the job search going?”

 

It is the young who have been most hurt by the economy over the last 5 years. This is a case in point. Many younger people are mired in debt (student or otherwise) and have tenuous holds on jobs if they have a job at all. Many college graduates are waiting tables to get by. A good number of  younger people resort to mom and dad’s place as the funds run out.

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Jimmie Kimmel explains why young people are crazy if they sign up for Obamacare (Video)

Yeah. Still love it? Sadly, tragically, these people probably still do.

Come on young people. Old people need you to pay for their health issues.

I know you guys have no job and and have huge student debt which we old people never had, but you guys need to get on the ball. Hop to it. Our retirement isn’t going to last forever. (Though it may seem to you like it will.)

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USA TODAY/Pew poll: Obama struggles with Millennials (Only 45% approve)

What’s your problem young America? I posted that selfie on Instagram. Doesn’t that make me cool?

 

This does not bode well for Obamacare, which only survives if young people can be convinced to sign up. (Against their best economic interests.)

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Yep, Being a Young, American Adult Is a Financial Nightmare

Source: Atlantic Magazine

More unemployed. More in debt. Fewer prospects. A more regulated economy which creates fewer jobs. Along with the increasingly regulated economy the blooming of the American crony capitalist system. There is no doubt about it the young are absolutely getting the short end of the economic stick these days.

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Many students would welcome third major political party

I think the article pretty accurately reflects a growing sentiment. Young Dems are inclined to remain Democrats. The Democrats will likely remain the “statist” party. Those who generally want more government, believe in the collectivist ideal, are for increased centralization, and believe the only way to deal with environmental issues is through federal regulation are unlikely to leave the warm embrace of the Democratic Party anytime soon. It’s a union mentality.

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Millennials Are Obamacare’s Last Hope

Come, young people to the Obamacare exchanges. Your premiums will likely go up, by a lot, but the administration needs you to subsidize other people or the entire giant bureaucratic, crony capitalist endeavor might come crashing down. With all that student debt what’s a premium increase of hundreds of dollars right? It’s only money.

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30% Of 20-24 Year Olds Are Unemployed And Not In School

Don’t forget young college graduates to put money away for retirement. What’s that you say? You won’t have any chance of saving anything until you are 50 years old because you owe $250,000 in law school bills?  Wow, that really stinks. But at least you paid the salary of your law professor for a year. It takes a village after all. That should make you feel good. When you’re 47 and still in debt just remember that.

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Generation Recession says, “Why buy when you can rent?”

I am all for this trend. Many people have no business “owning” a home, or even a car. For most younger people houses and cars are liabilities, no matter what your parents say. (Though many are singing a different tune these days.) Even if the housing market was going up and one is paying down principal, for many people “home ownership” is still a loser with the cost of maintenance, HOA fees, insurance, and taxes.

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