American (Pipe) Dream? - Young Adults

New York Times gives an excellent read (American Dream is Elusive for New Generation) about the struggles of today's young adult generation.  I've got alot of friends in similar situations, and the general environment can definitely be summed up as downbeat-yet-hopeful.

Some quick thoughts:

Hanover Insurance Group in nearby Worcester offered to hire him as an associate claims adjuster, at $40,000 a year. But even before the formal offer, Mr. Nicholson had decided not to take the job.

Rather than waste early years in dead-end work, he reasoned, he would hold out for a corporate position that would draw on his college training and put him, as he sees it, on the bottom rungs of a career ladder.

OK guys... I understand that everyone wants to work at a job they love (or otherwise worthy of the prestigious college diploma).  But, if you graduated in 2008 (2 yrs ago), and still haven't found a job, maybe it's time to reconsider your options?  And really, does anyone not 'waste early years in dead-end work?'

(His grandfather) watched what he described as America’s once mighty economic engine losing its pre-eminence in a global economy. The grandfather has encouraged his unemployed grandson to go abroad — to “Go West,” so to speak.

Pretty decent advice imo... I've talked about this possibility with my parents.  But, we need to understand that, from their perspective, America represents the epitome of success.  However, as seen here, the generation prior to our parents seems to have the view that, all things are transient... what was once successful may not always be so... something to keep in mind for our futures...

...growing wealthy on real estate investments made years ago

...the 'rising tide that lifts all ships'

“If you talk to 20 people,” Scott said, “you’ll find only one in manufacturing and everyone else in finance or something else.”

Misallocation of human resources created by twisted incentive structures.  Finance creates no real goods, just erroneous fees (parasitic).  This bizarro-capitalism system resembles the failed communism system, when one worker carried the workload of his twenty lazy (parasitic) comrades.

Scott moved into the empty bedroom, with his parents paying Scott’s share of the $2,000-a-month rent

Back when I was in school (haha, I just wanted to feel old by saying that), I lived in a two-bedroom with up to six other roommates.  Learn to be responsible with how you spend... even if your parents could pay for... it...