I've asked this question before and received many different responses. Please add your own.
If you read "The Great Bust Ahead" (Arnold), "The Great Boom and Bust Ahead" (Harry Dent), or "Prophecy" (Robert Kiyosaki), you'll find that we're headed toward a depression that could last between 12-14 years; starting around 2010.
There are too many people over-extended on credit and a glut of baby boomers will be retiring.
Based on the factual data for the past 80 years, once the current 49-54 year old age bracket moves into retirement, there will no longer be the economy-driving spenders we once had.
Also, the 70.5 year olds are required by law to start withdrawing from their 401k's.
2006-07-22
08:47:57
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9 answers
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asked by
Yo yo
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Other - Society & Culture