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:
"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.