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 · 9 answers · asked by Yo yo 2 in Society & Culture ➔ Other - Society & Culture
Stock up on prozac.
2006-07-22 08:50:41 · answer #1 · answered by Gwragedd Annwn 2 · 0⤊ 0⤋
Oh another time where the economy is going to go bad according to people. Well you know what? I see absolutely no reason to worry or panic honestly. Life can be lived hapily with nothing more than well the human body and nature. Its all about attitude. If you keep a good attitude and take care of yourself well, why should a nation's economy really hurt you a ton? Many people have things MUCH worse than what any depression will do to our country and they are alive and happy. So what if we cant get our super sizes or ultra luxury things due to a depression. I say we all can still be happy if we keep a good attitude.
Plus we all knew that when social security was started it was a joke and would eventually run out like it is. Thats why we have savings accounts we put money into so that we can use it later on, basically the same concept as what social security was supposed to be.
2006-07-22 15:57:51 · answer #2 · answered by CS09 2 · 0⤊ 0⤋
Relax, willya? It won't be that bad. All these doom-and-gloomers have been around for years and always seem to predict the most absurd worst-case scenarios.
It is true that we are going to come into some tough times but it will hardly devastate life as we know it. It will be just a little harder to get what we want and need, that's all.
2006-07-22 15:53:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
What is a depression?It takes one hundred copper pennies to make a dollar.Try being overextended on credit once.Doom and gloom.Getting better all the time for me!
2006-07-22 17:03:54 · answer #4 · answered by Balthor 5 · 0⤊ 0⤋
When the baby boomers retire, others will take their place.
If things get bad, I'll join the military again.
2006-07-22 15:57:19 · answer #5 · answered by Mike R 5 · 0⤊ 0⤋
Don't let "authors" get you down.
Even if it does happen, it will be easier to weather the storm than in the 1930's if one Homesteads before the worst of it.
2006-07-22 15:57:35 · answer #6 · answered by Captain Tomak 6 · 0⤊ 0⤋
Buy a Powerball ticket every day.
2006-07-22 17:26:03 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I 've been in my own Greatest Depression most of my life. This one won't bother me.
2006-07-22 15:54:05 · answer #8 · answered by Anonymous · 0⤊ 0⤋
rink a beer
2006-07-22 15:52:43 · answer #9 · answered by dale 5 · 0⤊ 0⤋