Dr. Housing Bubble 08/30/08

[Crewleader]

A Decade of Slow Growth: Why the United States will Face a Decade of Economic Stagnation and Face a L Shaped Recession. 10 Charts and Pictures as to Why This will Occur.

Given the recent positive reading for GDP, some are now doubting that we will even face a recession. This of course is a misnomer and most average Americans realize that our country finds itself in a very tenuous situation. It is very easy to brush off the current talk of economic malaise as simply another business cycle unwinding yet this time there are many fundamental circumstances that simply make this situation a very unique beast.

As baby boomers reach retirement age it could not have happened at a worse time. The economy is on the brink of recession and we are going to face the largest entitlement program drain on our system ever. Social Security was never devised as a retirement or pension program but a large portion of our elderly depend on this income. There is a baby-boomer age-wave theory proposed by economist Harry Dent that views a peak in the US stock market at 2007 and 2009. His prediction is based on observations that consumer spending peaks at or near age 50. With many boomers starting to retire in the upcoming years the age-wave theory predicts a slow down in the economy.

http://www.doctorhousingbubble.com/a-decade-of-slow-growth-why-the-united-states-will-face-a-decade-of-economic-stagnation-and-face-a-l-shaped-recession-10-charts-and-pictures-as-to-why-this-will-occur/

[Warpy]

1. The oldest boomers have been systematically cheated

out of pensions and wages their whole working lives and now find themselves with only Social Security and a bunch of pickle faced economists who tell them they should have lived in a box and gone hungry and not had any children and gone without medical and dental care and saved every dime they made so they'd have something to retire on when they got kicked out of their jobs at 50 and had to take a patchwork of part time low wage jobs just to survive.

Yeah, right.

The only crisis in Social Security is that Congress isn't going to be able to raid all the overpayments to fudge the books on what their tax giveaways to corporations and plutocrats have done to the budget.

[Hannah Bell]

2. The only problem with "slow growth" is if population is growing

faster or resources are shrinking.

Otherwise, the problem is with growth of corporate profits, not with people's actual lives.

A steady-state or even shrinking economy doesn't have to be a problem for the average person - indeed, it could be better than what they have now, in many ways - but it's a huge problem for profits.