Reagan vs. Technology

Who did it? I'm guessing Reagan is responsible for massive poverty rate in America today through his trickle down economics, that never trickled down. The top 5% in this country has gotten a lot richer over the last three decades, gloriously rich. And don't get me wrong, I was a huge fan of Reagan. In my youth, I had no interest in reading or the facts. I was never encouraged to read or learn or educated myself. I was Sarah Palin in my youth, "willfully ignorant".

As for the massive unemployment rate amongst people over the age of 50, I'm guessing technology is responsible. Life is about change theses days. Why hire a jaded 50 year old with antiquated skills when you can hire a 22 year old to do the same job at a third of the salary? Old people's wisdom was once a virtue, now it's synonymous with out of date values and cluelessness.

We Haven’t Hit Bottom Yet

There are more people in poverty now — 43.6 million — than at any time since the government began keeping accurate records. Nearly 15 million Americans are out of work and home foreclosures are expected to surpass one million this year. The Times had a chilling front-page article this week about the increasing fear among jobless workers over 50 that they will never be employed again.

It's crazy times out there right now. If the Bush Administration did its job of regulating the banks, clearly the mortgage crisis would not have been so extreme. The mortgages wouldn't have been made. The bubble wouldn't have occurred. yadda, yadda, yadda. But no, instead the Bush was Administration focused on scaring the country, instructing us to be afraid of terrorist. Joy, joy, joy. Well at least Dick Cheney got rich from the war as a major stockholder in Halliburton. Good for him.

Of the 14.9 million unemployed, more than 2.2 million are 55 or older. Nearly half of them have been unemployed six months or longer, according to the Labor Department. The unemployment rate in the group — 7.3 percent — is at a record, more than double what it was at the beginning of the latest recession.

But who knows? And what do I know. I might be one of these people in a couple of months. My only saving grace is my Ph.D. and knowledge of statistics. My graduate degree is human capital. A six year investment that's paying off.

Myths or truths?

Older workers are less capable of evaluating information, making decisions and problem-solving” or “Older workers are rigid and inflexible and have trouble adapting to change.” Hummm, would I hire an older worker? Never have. I always found it better to higher younger workers. However, if I was unemployed I'd hope someone would hire me.