Sunday, January 18, 2015

Boomers, Millennials & Stunning 74% Collapse In Stocks

In the popular perception of economics, some things are taken to be self-evident. Like the truism that investors should just buy and hold stocks for the long term. Or that prosperity is attainable through hard work, saving and home ownership. Or that a college education is the path to personal empowerment.

But the truth is, our history is limited. The Baby Boomer generation — the 76 million Americans born between 1946 and 1964 — was the first to really live a full lifecycle in the economy as currently structured. Members of the Greatest Generation were paying their mortgages when the value of the U.S. dollar was still tied to gold. Before that, folks remembered what it was like when there was no Federal Reserve — or federal income taxes, for that matter.

- Source, King World News, Read more here.