Newsweek finds yet another person to blame for this recession – Baby Boomers. See graph below of US population by age.
“The Baby Boom lasted from 1946 to 1964, and
some 78 million American children were born during that time. As this
cohort ages, its sheer size overshadows the rest of society.”
The worrying trend:
What happened in Japan in the 1990s was
a demographic shift into retirement, where a large portion of the
population went from a lifestyle of earning, saving and spending to a
lifestyle of not earning, living off assets and spending less. This
resulted in less demand for investments like stocks, less demand for
housing, and less demand for material ‘things’ — and the prices of all
In one of the comments a user says “Let’s see, both my husband and I started working for cash before we
were even in junior high (he had a paper route, I babysat). Funny, I
don’t see any kids working in stores now, or many doing paper routes
The thing is there is no more of the paper route job. And the “working in stores” job is being done by adults out of college since there are no more jobs for them.
I dont think kids these days are slackers, or obsessed with navel gazing on twitter. They just dont have the opportunities that existed, since those jobs are gone.