Going to be a massive geezer problem. WE older citizens are not going to buy very many houses, cars, new pieces of furniture etc.
Ours is the largest generation and when we leave the workforce in 5 or 10 years the crash is inevitable. Most boomers are near broke and need to keep working. Not going to happen. By all counts you can't take 70 million wage earners out of the economy and not replace them.
The economy evaporates. Expect government spending to sky rocket. In the mean time get ready.
After all said and done that's why we have a large military. We will just have to take what we need!
Daily Digest 9/5 - Thoughts On The Housing Market, Drop In Self-Employment, New Energy Ideas - Blogs at Chris Martenson
Ours is the largest generation and when we leave the workforce in 5 or 10 years the crash is inevitable. Most boomers are near broke and need to keep working. Not going to happen. By all counts you can't take 70 million wage earners out of the economy and not replace them.
The economy evaporates. Expect government spending to sky rocket. In the mean time get ready.
After all said and done that's why we have a large military. We will just have to take what we need!
Daily Digest 9/5 - Thoughts On The Housing Market, Drop In Self-Employment, New Energy Ideas - Blogs at Chris Martenson
"Peek inside this statistical slaughterhouse: As older Americans headed for retirement, the recession cut into their plans, sending retirement account balances down 32 percent from a peak of $8.7 trillion in September 2007 to $5.9 trillion in March 2009, according to AARP. As the recession kicked in, more than one of every four foreclosures and delinquencies involved Americans age 50 and older, this on top of the decade's already sharp increase in bankruptcy filings for the 55-and-above set. "
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