If you read "The Great Bust Ahead" , "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.
2006-07-06 15:21:23 · 8 answers · asked by Yo yo 2 in Society & Culture ➔ Other - Society & Culture
Correct...I put the start a little earlier however, at 2007-8
rough sledding ahead folks,seriously. not much you can do except the obvious:
1)Pay off all debt
2)Change jobs now into a more-likely survivor-type position
3)Hold cash and gold/cash out your 401k,IRA accts
4)Be ready to help your family
2006-07-06 15:30:04 · answer #1 · answered by -* 4 · 0⤊ 0⤋
Gee, it is in print so it MUST be true! Seriously, if I had a dime for every doomsday book, article, news story that predicted disaster for the last 500 years I would never have to worry about financial disasters. According to all predictions made in the last 50 years I am already living in poverty, in a world that has already ended in fire, ice and radiation, and non of my computers will work anymore.
Maybe I should write a book about the "coming crisis in america" so that I can retire rich.
2006-07-06 22:28:48 · answer #2 · answered by wizard8100@sbcglobal.net 5 · 0⤊ 0⤋
Hope there's not a depression... just started my life. Wouldn't be surprised though. So many baby boomers with too much money, spending too much on housing, especially trading up for luxury or bigger homes. And then suddenly retiring. hmmm....
We'll survive though. Personally, I will not incur any major debt except for real estate. No new cars... and living on a budget. Hopefully I'll be able to increase my income to afford a home. Doubtful in California though.
2006-07-10 11:53:22 · answer #3 · answered by misa 2 · 0⤊ 0⤋
i seriously doubt it i mean that's in four years and even more people now and an increasing number of women are becoming one of the highest paid professionals. we have probably the biggest work force in the world. if a crisis like this were ever to strike, wouldn't the whole world be informed on this already? your theory is one brought on by three books. it's hard to say what will happen to our economy in four years.
2006-07-06 22:29:00 · answer #4 · answered by swimgirl 2 · 0⤊ 0⤋
the only good thing is that i work in the medical field, and will always be needed. but it does seem depressing knowing whats coming. :(
2006-07-06 22:26:34 · answer #5 · answered by Anonymous · 0⤊ 0⤋
ummm....i think im gonna buy a PS9. Buy a burrito at subway, yea, it will happen by then...
2006-07-06 22:25:55 · answer #6 · answered by Nuke 2 · 0⤊ 0⤋
All speculation
2006-07-06 22:25:25 · answer #7 · answered by jpxc99 3 · 0⤊ 0⤋
That's depressing. Thanks for making me feel terrible about getting old
2006-07-06 22:24:06 · answer #8 · answered by ♥Nina♥ 3 · 0⤊ 0⤋