Category: Economy, Federal Reserve, Think Tank

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

One Response to “Generations X and Y: Facing Economic and Financial Challenges in the Shadow of the Baby Boom”

  1. pekoe says:

    Economists prognosticate tomorrow using today’s conventional wisdom, so while the backwards analysis is probably good, the forward is pretty dubious. For example: buyers always determine prices, so if Gen X or Y does not have enough money, housing and other prices will fall to meet their available resources. Also, you cannot save a loaf of bread which means that retiree’s needs must always be provided by current workers. Boomers have been able to be quite generous to their parent’s generation because of their relative numbers but will the X’s and Y’s be able to supply both the needs of their parents and themselves? It would seem that both productivity growth and income distribution will be the keys to this. How will this affect the ability of retired Boomers to purchase goods and services from the X’s and Y’s? How it will all work out in 20 years is difficult to predict, but given their track-record at predicting, I will trust an economist to bring me an answer, I just wont trust the answer. Seriously, they cannot even predict next year’s GDP with meaningful precision.