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.
2006-07-07
04:11:56
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8 answers
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asked by
Yo yo
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Personal Finance