If you’re…under 30…[it is imperative that you] stop playing by the rules of the game that used to work in the past because the old playbook of “go to school, get a good job, work your way up the ladder” simply doesn’t apply anymore.
By Simon Black
Here’s a look at the looming fate of the average young person today:
1) Your government-run university tuition is going to go through the roof, saddling you with unfathomable debt before you even enter the world as an adult;
2) Once you graduate, you’ll be the last in the hiring queue;
3) If you do get hired, you’ll be the lowest on the totem pole and the first to be let go when tough times befall your business;
4) Once the labor market eventually stabilizes, you’ll enter your prime earning years with some of the highest tax rates ever seen as your government continues to cannibalize your generation to pay off its largess and indebted entitlement programs that benefited older generations;
5) For your entire working life, you’ll pay into a pension system that is going to be bankrupt by the time you’re qualified to draw on it;
6) More than likely, you’ll never achieve the standard of living that your parents achieved;
7) Whatever wealth your parents accumulated won’t be left to you– the bulk of it will be confiscated by the state (unless your folks were smart enough to plant multiple flags) due to a host of death taxes.
If you’re in the millennial Facebook generation, this is going to be the standard story line of your peers.
The system that’s in place right now– the failed cycle of debt and consumption fed by continuous government intervention– has stuck you with the bill.
The Silver Lining
Fortunately, there’s a silver lining (as always). Younger people are generally less anchored and more mobile than their elders, hence it’s much easier to opt out of this perverse system.
If you’re angry that your government is saddling you with the responsibility to pay off generations of bad decisions, then:
- Get out of Dodge. Stop playing by the same rules of the game that used to work in the past– the old playbook of “go to school, get a good job, work your way up the ladder” simply doesn’t apply anymore.
- Don’t stick around a society that has completely forsaken you and is waiting with knife and fork in hand to carve up your earnings once you finally enter the labor market… get out of Dodge now, while it’s easy to do and you have little to risk.
- Go explore the world and get an education based on experience, not expensive academic theory. Seek opportunities in thriving, frontier markets overseas… places like Kurdistan, Mongolia, Botswana, Kazakhstan. Soak up the local intelligence and become the grease guy on the ground who can make things happen.
- Find people whose lifestyles you want to emulate and make yourself indispensable to them as an apprentice… this will be the only time in your life that you can afford to work for nothing in exchange for a valuable, first-hand education.
- Most of all, stop playing by everyone else’s rules. Refuse to be enslaved by the idea that it’s your civic and moral responsibility to pay off the debts of your government’s failures. Cast off the yoke of their control… and summon the courage to live a life by your own design.
The path to prosperity in the Age of Turmoil depends on your ability to reject the old system, declare your economic independence, and carve your own path.
The original article was written by Simon Black (sovereignman.com) and is presented here by the editorial team of munKNEE.com (Your Key to Making Money!) and the FREE Market Intelligence Report newsletter (see sample here – sign up in top right corner) in a slightly edited ([ ]) and abridged (…) format to provide a fast and easy read.][Rick Santelli seconds the above thoughts (or is it the other way round) in a video entitled Rick Santelli to Generation Y: Wake Up! that, according to Monty Pelerin (www.economicnoise.com), “explains to younger people how they have been trapped into a life of debt by prior generations and how the government tries to hook them into the Ponzi scheme. A very simple explanation that should be shown to every high school and college student. Don’t fall for the Ponzi Scheme!“]
Want more such articles? Just “follow the munKNEE” on Twitter; visit our Facebook page and “like” an article; or subscribe to our free newsletter – see sample here, sign up in top right corner.