Man, you are so right on this point as well! And no one seems to reflect on the fact that the discretionary consumer spending, ESPECIALLY BY BOOMERS, likely is PERMANENTLY contracted.
Look, many boomers have about everything they need, and many have led a somewhat affluent lifestyle to the point that it doesn't even really matter to them if they can't go out to dinner so often or go on cruises, whatever.
What I'm saying is that the psychology of penny-pinching is quite different in this group and this time around. When you bought a pair of shoes because they were the new style, a getting to be senior has no problem "adjusting" to not buying new styles and instead wearing one of the many pairs of shoes in the closet.
I'm not particularly wealthy, but I think I literally could go a decade or more just wearing out the stuff I have, without buying much of anything else. In fact, I can't wait to start getting rid of much of the stuff that's been accumulating!
When financial shock is coupled with the lack of true *need* for buying much of anything --- has the world economy ever seen such a combination?
In a word...NO.
All but our parents generation (mid 70's & up) have ever seen a real Depression.
IMHO, the relentlessness in goobermint pushing to place more spending and control ASAP is becasue of what is coming.
They do not want a WW III, so killing off the boomers, the sick, and the disabled leaves infrastructure in place and lets them redistribute the wealth as they best see fit.
Has the world economy ever seen such a scheme?
Think about it.......the goobermint is practically giving away the H1N1 vaccine to the kids (not infants). I've read that this particular bug shows traits of a man-altered virus.Think about it on just how much the goobermint has recently pushed these inoculations especially for kids.?
What better way to get rid of the elderly and the sick?
The recent CRU unavailing is a prime example of my complete distrust for those at the top running the show.