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Ben_Berkkake

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Friday, April 03, 2015

We first showed back in October 2012 that in America, courtesy of the Fed's micro-mismanagement of everything, the labor force has been turned upside down, and the only jobs being created are those for aged workers, Americans 55 and over.

The reason is two-fold: with savings rates at zero, Americans who were on the verge of retiring found that the fruit of their labor was worth nothing under ZIRP (and may well be punished under the upcoming NIRP) as their savings (and fixed income investments) generate zero interest income, while young Americans would rather stay in college by the millions funded generously by trillions in Uncle Sam student loans.

And the real kicker: since the start of the Second Great Depression, only the 55 and older age group has seen job increases. Those 55 and younger are still 1.2 million jobs below the level they were are on December 2007. read more


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