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Ron Paul on CNN talks about the Trillion Dollar deficit!
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prozacrefugee
Riot Nrrd


Joined: 19 Nov 2003
Posts: 9465
Location: living in a powderkeg and giving off sparks

PostPosted: Fri Jan 14, 2011 2:05 pm    Post subject: Reply with quote

voiceofTruth wrote:
Quote:
the demographics of the baby boomers are going to hit us,



I don't think people realize how big of a problem this is.


Exactly - and all the screaming aside, it's going to be driving the economy down for the next 5 years at least, until Gen Y's relatively larger numbers compared to X is in the workforce. The long bull market of 1978 - 2008 almost exactly matches the years the Boomer's, with their large numbers, were in their major wage earning years. And right now is when the largest birth years hit 65.

Aside from the public benefits problem we're likely to see major ones in private assets as well. As the Boomers en mass start selling both their 401Ks and McMansions it's going to put massive downward pressure on both stock and real estate prices.

QEII makes little sense as an attempt to jumpstart the economy (Japan tried it for years, with little to no effect). And with the decline in money supply it's unlikely to create inflation at its current rate. What it is good for doing, though, is not only a backdoor recapitalization of the big banks, but also to encourage an asset bubble. And that is a backdoor funding of Boomer retirement.
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