#49 The Geritocracy

September 21, 2014

CANADALAND

#49 The Geritocracy

Baby Boomers are the wealthiest generation ever while young Canadians are increasingly poor and in debt. Yet the federal government spends four times as much on the average senior citizen each year as it does on the average 24-year-old. Eric Swanson of Generation Squeeze is fighting an uphill battle to even the scales.

Episode Rundown

00:00 Sigh, here is the Wente column in question (link)

02:27 Read about how old people make it rain here (link)

03:20 Eric Swanson and Generation Squeeze (link)

04:53 “It is hilarious to me that you’re doing Generation Squeeze, talking about this intergenerational disparity from this city (Victoria). This is a crazy wrinkly city.” Jesse

05:40 “The statistics (link ) show that their (Boomers) network is growing largely in part to housing pricing increasing. But the primary driver of wealth for the Baby Boomers is the primary source of debt for young Canadians as we struggle to get into the housing market and deal with low wages and higher costs of things other than housing.” Swanson

06:04 “Wait, say that again. Our debt is their wealth?” Jesse

07:19 “The government is spending $45,000 a year on Canadians over 65 and 12,000 on average on those of us under 45. So a senior citizen in this country is worth more like double what a person my age is worth.” Jesse

Numbers cited here (link)

08:44 “It used to be there was an average 5 year wait to put down and down payment to buy a house. Now it’s 15 years.” Jesse

“15 in B.C, 10 across Canada.” Swanson

09:47 “I talked before about how the Globe and Mail is obsessed with bashing younger people. Just a cursory look, but look at these:

Why can’t we take gen Y seriously? (link)

Inside the Entitlement Generation (link)

If millennials want to lead they need to stop abandoning ship. (contains) “…a nation of workers who only have loyalty to themselves” (link)

It’s actually like bullying, it’s like you’re picking on poor people.” Jesse

12:51 “I think we’re totally partially to blame, as a generation. Democracy belongs to those that show up.” Swanson

17:29 “Build an app for it, the kids love apps” Jesse. I knew you were being facetious but God that made my eye’s roll into the back of my skull.

18:20 “ I think when you find younger people engage, they get engaged in big picture things. And they get engaged in social justice issues. It used to be about politics benefiting you.” Jesse

29:05 “New Canada vs Old Canada….that can afford it” Jesse

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