"This is like winter coming," adds Harry S. Dent, an author and consultant who says the U.S. is headed for a slump that will last until 2020. It will take that long for the financial wreckage from this boom-bust cycle to be cleared away, he says, and for the 79.4 million strong "Millennial Generation" -- most of whom are still in high school or college -- to enter adulthood and start buying homes, cars and gadgets of their own. "It happens once every 80 years," Mr. Dent says of this sort of demographics-driven economic cycle. "It's going to be difficult."Meanwhile, remember the predictions that Daily Sprawl has made about the auto industry? Well, they are looking more and more likely everyday.
Thursday, October 23, 2008
A Downturn That Lasts Until 2020?
That's what is suggested in this recent WSJ article that discusses how the Baby Boomer generation has been a major player in the present problems: