[TigerLikesRooster]

Ping!

[gusopol3]

It will also not be buttressed by rising flanks of new consumers, because the children of the baby boomers are a smaller cohort and immigration policies are unlikely to change drastically.

in other words, it's just that the recession is the reality of inverted demographics striking? Bush's cryptic remark upon the failure of immigration reform that "now you're going to pay," certainly explains his point of view, knowing as he did that the last gasps of credit-driven prosperity were built on illegals building houses for illegals. What a mess.

[Monsieur Poirot]

for later

[tvdog12345]

It’s a good time to be poor. The masters of the universe are agonizing over how to keep up payments on their Maseratis, given that they’ve never actually worked for a living.

Anybody who says that an upturn is just around the corner has got some worthless assets he needs to unload and is looking for some patsy to take them off his hands.

[Sherman Logan]

the recession enters its second year.

As I understand the official definition, we're still not IN a recession. A recession is two quarters of negative growth in a row.

Since we officially had 2% growth in the third quarter, we can't really enter a recession till April of 2009.

This may, of course, say more about the inadequacy of the definition of recession than its reality.

[Straight Vermonter]

The median boomer came into the current downturn in his or her 50s, edging closer to retirement in a state of precarious financial health.

The boomers will at least have pensions to fall back on. Their children will not. They also will be able to vote themselves ever greater government benefits, further impoverishing their offspring.

[RobRoy]

I’ve been saying for three months that “Frugal” is the new “Chic”.

It’s gonna kill retail.

Seriously.