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.
2006-07-18 04:53:46 · 8 answers · asked by Yo yo 2 in Business & Finance ➔ Other - Business & Finance
If there will be another Depression, then people will make do. However, I remind you of the great 2000 debacle when people stocked up on paper and canned goods, and nothing happened. Let people be responsible for themselves and their own actions (or in-actions as the case may be).
2006-07-18 04:59:24 · answer #1 · answered by Sarah 3 · 0⤊ 0⤋
What gate is failing to realize is that there are people alive right now that lived through and remember the Great Depression, I know some of them. From his picture, he looks young enough that the only thing he really recalls are the good times. The U.S. Experienced the greatest economic expansion from just after WWII till present. Younger generations haven't really lived through tough times (yeah, you had issues during the 70's, but it was that bad in the larger picture), so they believe things will go one the way they always have been.
I'm sure many Roman citizens thought Rome would late into perpetuity. Because we've never experienced it doesn't mean it won't happen. The dollar is on the verge of collapse, the equities markets are lackluster at best. The U.S. in basically bankrupt (at least according to an article published by the St. Louis branch of the Federal Reserve).
Things are going to get bad, and most of the people who "think" they know differently are going to be very surprised when hard times hit. The upcoming financial upheaval is going to make 1929 look like a picnic in the park on a spring afternoon.
2006-07-18 05:04:52 · answer #2 · answered by 4XTrader 5 · 0⤊ 0⤋
Unless you are already wealthy, this will be a time to rely on your survivor skills.
I am 100% country boy and know many ways of getting by in a bad situation.
I can hunt, fish, garden and build my own shelter if need be.
Unfortunately many folk's are not physically able to do these things.
You are right about where we are headed in the near future but our government has to take alot of the blame.
2006-07-18 05:16:36 · answer #3 · answered by juslookin 5 · 0⤊ 0⤋
I'm 48 and our family has been in a depression for quite a long time now. It will be interesting to see how others with money handle it.
2006-07-18 04:56:18 · answer #4 · answered by butterfliesRfree 7 · 0⤊ 0⤋
Shouldn't you be on a street corner with a "The world is ending" sign somewhere?
Give me a break, people have been spouting this crap forever.
2006-07-18 04:55:39 · answer #5 · answered by ~Gate~ 5 · 0⤊ 0⤋
We made it before. Hell, we've made it for a few million years, I think. Surely the world won't stop rotating, will it?
2006-07-18 05:01:33 · answer #6 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
The sky is falling! The sky is falling!
2006-07-18 04:58:26 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I will eat my neighbors.
2006-07-18 04:55:55 · answer #8 · answered by bildymooner 6 · 0⤊ 0⤋