We've been inundated with unemployment numbers for the last several months. There's one thing that has not been mentioned in the press or by any of their economic "experts". The baby-boomers are retiring in vast numbers. They are collectively saying they've had it with current working conditions and the numbers don't lie.
Why do we continue to hear about the unemployment rate fluctuating because of the number of people leaving the work force? Are they coming back? Doubtful. The baby-boomers are electing to retire.
And why not? Their pensions have been frozen, if they still have one. Their 401(k)'s are under assault by the Obama administration and their social security payments are in question because of the exploding Federal debt.
Who do you think is driving up gold and silver prices? Speculators? The baby-boomers are caught in a vice and they are responding by trying to protect their life savings. Whether it be by investing in gold, silver, or, God help them, real estate, they are just now beginning to move their investments to cash flow their retirement.
So, what does that portend for our economy? It signals vast underemployment. Graduates with degrees in music will be applying for accounting jobs to fill the void. Employers will be forced to develop remedial classes to re-educate the vast number of applicants that they hire to fill positions that don't fit their degrees.
On the blue-collar front, we will see a revival of journeymen programs to train the masses of people that are willing to do anything for a job.
We will see the final implosion of the higher-education boom. College educations will mean nothing as people scramble for well-paying jobs in the so-called, blue-collar sector. Unions will scramble to enlist these newcomers into their midst, but will be cast aside as people refuse their membership to accept a new job without strings attached.
Major universities will begin the forced-retirement of tenured professors, because of their salary's impact on shrinking budgets. This will lead to a major renaissance in our higher education system that promotes free-market principles to attract new students AND educators.
We are on the cusp of a major restructuring of our economy, but one that is driven by the economy. Education, government and social engineering programs will give way to market-based solutions that create a new paradigm to challenge our future politicians. There is not a politician alive that will be able to hide from the impending changes and their weaknesses will be exposed for all to see via Facebook, Twitter and other Internet-driven media.
We are only just now beginning to see the shift. Hold on to your hats. This is going to be a fun thing to watch, as it plays out over the next 10 years.