Comments on: Blame It on the Boomers https://legacy.fearlesswealth.com/blame-it-on-the-boomers/ Protecting and growing your investments Mon, 29 Apr 2013 19:52:49 +0000 hourly 1 https://wordpress.org/?v=6.0.8 By: IvanH. https://legacy.fearlesswealth.com/blame-it-on-the-boomers/#comment-74 Mon, 26 Sep 2011 18:57:10 +0000 http://www.fearlesswealth.com/blog/?p=451#comment-74 Great tip/reminder in the P.S. at the end of your post.

]]> By: David https://legacy.fearlesswealth.com/blame-it-on-the-boomers/#comment-73 Fri, 26 Aug 2011 06:40:58 +0000 http://www.fearlesswealth.com/blog/?p=451#comment-73 I believe you are absolutely correct.  Between the large amount of people leaving the workforce, our high government debt and the social structure that we have, the US has already peaked and we will quickly see the demise of the US as the world power.
We will continue to innovate and, I believe, the US economy will continue to grow at a slow pace over the next several decades.  The Fed and the Government will continue to try to devalue our currency as much as they possibly can to try to fuel inflation and promote growth, but the growth just won't be there.  (Look at Japan.)
Also, we will continue to see slow growth in Europe.  They have zero population growth and a social structure that we have been trying to emulate for the past 80 years.
India isn't going to be as much of a global factor as they could be unless they can fix the massive amount of corruption that is rampant in the country.  The people who run the "system" in India don't want the change because they are on the gravy train.  Why should they fix something that is working very well for them?
China is going to be the global workhorse, building wealth for the entire world.  However, if the countries that have 60-70% of the wealth aren't growing, it will be difficult for China to grow at the pace that it has over the past 3 decades, especially since they have an aging populace as well.
The US government and the Fed will continue to try different economic fixes, but nothing will work.
In order to fix the problem quickly, the US and Europe will need to have massive government downsizing, especially social programs and defense, and major overhauls in legislation and tax codes for us to move forward again.  We will all need real austerity programs.

Maybe we need a major depression to fix the problem.  If we continue to limp along, the mess won't be fixed for decades or maybe a century or more.
Nevertheless, it is still a great time for those who are willing to grow and expand themselves.  People who can look ahead and embrace the changes, as they come, will do very well.  Those who are going complain about the issues or file into the streets to protest are going to be left behind.
Though I am not wealthy, I am looking forward to the future.  There will always be ways to make a great living.  You will just need to have the right mindset and make the best of every situation that comes your way.

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