[underbyte]

When predicting future cycles it is not only what is the same but what is different

1.)For better or worse, we now live in a global economy which tends to smooth the economic cycles. .

2.)Demographics
Baby boomers have put most of their Kids through college and and now have to save that extra little cash for retirement. Where are they going to invest? Real estate? -Been there done that. Bonds? maybe. My bet is that most of the money will go into the stock market and the bear bust is 10-15 years away when the boomer start cashing in their retirement.

JMHO

[misterrob]

When boomers start cashing in money for retirement the funds will come from tax deferred 401Ks. They will be paying their own social security "benefits".