Topic: Have you hugged a boomer today?
started by: Common Citizen
Posted by Common Citizen on Jul. 09 2009,2:37 pm
QUOTE
By John Sullivan | Published July 9, 2009
From the Boomer Market Advisor Watch Newsletter: Boomer Insurance Watch — July 9, 2009
Thank boomers for periods of low market volatility? Actually, yes. As Newsweek notes, there was a glorious time between the mid-1980s and 2007 when inflation was low, economies boomed, and recessions were short and infrequent. Economists have wracked their brains trying to explain this period of time. Some attribute it to the rise of China and India, which fed the world with low-cost goods. Others say it was Alan Greenspan's skilled manipulation of interest rates. Others think it was just blind luck. Now, two economists at the Minneapolis Federal Reserve say we have baby boomers to thank. According to the economists:
“We find that demographic change accounts for roughly one fifth to one third of the moderation experienced in the U.S. Clearly, demographic change is not the sole factor responsible for this episode; nevertheless, demographic change constitutes a common factor relevant for understanding the evolution of business cycle volatility — not only in the U.S., but also in other G7 countries — over the past four decades.”
In other words, as the article explains, age profiles had a lot to do with this long period of low volatility. The authors point out that young people are extremely susceptible to business cycle fluctuations. When the economy turns south, they lose their jobs faster than everyone else, since they're seen as inexperienced and often transitory labor. Middle-aged careerists are less expendable, both because of their social situation (families to take care of, mortgages to pay) and their on-the-job experience, which is more highly valued in a soft economy.
From the Boomer Market Advisor Watch Newsletter: Boomer Insurance Watch — July 9, 2009
Thank boomers for periods of low market volatility? Actually, yes. As Newsweek notes, there was a glorious time between the mid-1980s and 2007 when inflation was low, economies boomed, and recessions were short and infrequent. Economists have wracked their brains trying to explain this period of time. Some attribute it to the rise of China and India, which fed the world with low-cost goods. Others say it was Alan Greenspan's skilled manipulation of interest rates. Others think it was just blind luck. Now, two economists at the Minneapolis Federal Reserve say we have baby boomers to thank. According to the economists:
“We find that demographic change accounts for roughly one fifth to one third of the moderation experienced in the U.S. Clearly, demographic change is not the sole factor responsible for this episode; nevertheless, demographic change constitutes a common factor relevant for understanding the evolution of business cycle volatility — not only in the U.S., but also in other G7 countries — over the past four decades.”
In other words, as the article explains, age profiles had a lot to do with this long period of low volatility. The authors point out that young people are extremely susceptible to business cycle fluctuations. When the economy turns south, they lose their jobs faster than everyone else, since they're seen as inexperienced and often transitory labor. Middle-aged careerists are less expendable, both because of their social situation (families to take care of, mortgages to pay) and their on-the-job experience, which is more highly valued in a soft economy.
Interesting...not one mention of Obama or Bush in this article.
Although if you look at that glorious time between mid 1980 - 2007...who controlled the White House the majority of time? hehe
....taking cover now...
Posted by Paul Harvey on Jul. 09 2009,3:38 pm
Why are you politicizing a perfectly good article? It's making you miss the most important point and I agree with their findings. This behemoth called the boomer generation is the single most important issue coming up because it'll eat up a bigger portion of government then ever before. Then monster is freaking huge and it's going to dominate everything especially taxes and money.
Posted by Common Citizen on Jul. 09 2009,3:46 pm
Politicizing it was an attempt to get a rise out of people like you...guess it worked... 
Posted by Paul Harvey on Jul. 09 2009,4:16 pm
I don't need to be manipulated into responding. If my response brings a warm feeling, perhaps you should think about visiting your favorite porn site before posting. Good day.
Posted by Common Citizen on Jul. 09 2009,4:31 pm
You're the one with the subscriptions...If you give me your login information I'd consider it.
Back to the thread...
I agree with the impact that the boomer's have on our culture and economics. It makes our deficit spending even more nightmarish. We really won't have the luxury of a massive population to help pay for it without robbing it's people. But hey, last November, we asked for it right?
Posted by Paul Harvey on Jul. 09 2009,5:43 pm
I said your favorite porn site, not mine. You don't like my taste in women anyway unless that was all BS. I don't really care for main stream porn stars, the best probably being Cherry Rain who's no longer active. For armature women I like Kristen Cameron and Ashley Edmond's. Brand new armature I like Britney Brookes.
Nuff said...
Posted by jimhanson on Jul. 09 2009,6:06 pm
QUOTE
This behemoth called the boomer generation is the single most important issue coming up because it'll eat up a bigger portion of government then ever before.
Did you ever consider that this large portion of the population actually FINANCED the foolishness of SS in the last 30 years by the money that was extracted from them--yet they have little chance of reclaiming it? 
Posted by nphilbro on Jul. 09 2009,7:36 pm
My grandfather was in WWII. When I was a kid I thought they were rich. When I was a teenager I thought he was a hardass. When I was a young adult I thought he was cheap (put a thermos of instant coffee back in the fridge so he could nuke it later). As a late 30's adult, I think he's a genius. Sadly, his brain is mush but he thinks the retirement community they live in is a cruise ship.
Posted by jimhanson on Jul. 09 2009,7:50 pm
A good assessment, Nphilbro. That generation that lived through both the Depression and WW II never forgot where they came from, no matter HOW much money they made. I know several wealthy people from that era that STILL pinch pennies like your Grandfather--not because they HAD to, but because they couldn't force themselves to waste.It's hard for most of us to look at how they were brought up--compared to today. Many people today would think it was a third-world country--and they wouldn't have been far wrong. Rural America prewar WAS like a third-world country. You may or may not have had electricity, a telephone, or indoor plumbing. If you had a car and lived in the country, you put it up for the winter because roads weren't plowed. Many people still farmed with horses. The vast majority of people never traveled more than 50 miles from the place they were born. If there were too many mouths to feed, kids could just be given away. School was a luxury--to be done AFTER the work was done. "Extra-curricular" was the work you did AFTER school.
The kids that went through the Depression and won WW II--Greatest Generation? Hands down YES.
Would I like to go back to that? No--and most people that went through it wouldn't either.
Posted by Glad I Left on Jul. 09 2009,8:58 pm
I get the luxury of talking to a lots of older vets on the plane. And almost everyone I have talked to that served in WWII hate being labeled the greatest generation.Most of them have the mindset that they didn't do anything great, they just did what was right.
Posted by Paul Harvey on Jul. 09 2009,9:13 pm
QUOTE
It's hard for most of us to look at how they were brought up--compared to today. Many people today would think it was a third-world country--and they wouldn't have been far wrong. Rural America prewar WAS like a third-world country. You may or may not have had electricity, a telephone, or indoor plumbing. If you had a car and lived in the country, you put it up for the winter because roads weren't plowed. Many people still farmed with horses. The vast majority of people never traveled more than 50 miles from the place they were born. If there were too many mouths to feed, kids could just be given away. School was a luxury--to be done AFTER the work was done. "Extra-curricular" was the work you did AFTER school.
Yes, but as bad as that is, it pails in comparison to what we do to people caught with too much marijuana. Where's the freaking sanity in that? Left with too much material wealth and too easy of lives, we resort to declaring war on EACH OTHER. We are one sick people too be sure and what's probably sickest is it's done in the name of Jesus(the right wing neocon Jesus)
Posted by bianca on Jul. 10 2009,1:16 pm
nphilbro- agreed, great assessment.Not so sure on the greatest generation though jim. Most of them are/were definitely great at pinching pennies but some of them to too much of an extreme. Doesn't help stimulate the economy much when hundreds of thousands of dollars are stored in their basement freezer because they are "afraid" the banks are going bust.
Positively, without a doubt, our children SHOULD spend time with their great grandparents just to get a clue on how things were for some of these people and WHY they are the way they are. Most of the kids don't hear about this stuff in school anymore and unless it's put on a video game they won't hear a good part of our history.
This upcoming generation scares me. Most of the kids today are so coddled. IMO, a lot of it stemmed from both parents having to work to support a family and/or divorce with mom and dad overcompensating with fast-food, video games, cell phones and "buying" them things rather than spending time together.
We are a very selfish self-serving society today, IMO, people are mostly out for themselves. How many families do you know that make a point of having dinner together and just talking everynight or even one night for that matter? Terribly sad when we can't even make time for the most important people in our lives to learn from. Some of my greatest lessons in life are from grandparents and great grandparents. Our kids today are missing out.
Posted by bianca on Jul. 10 2009,1:28 pm
CC-Been meaning to inquire on something for awhile. Politics aside, how is business going? You are in the personal savings/ investment business, or something near that line of work, correct? I have just been wondering for sometime now how peoples spending habits are going in that sense. Have you seen any changes in the past year? What is the median ages of the investors you serve/advise etc? Do you see any younger ones inquiring say 30 yo or younger?
........just curious.
Posted by jimhanson on Jul. 10 2009,2:21 pm
GIL QUOTE
Most of them have the mindset that they didn't do anything great, they just did what was right.
And once again, they were RIGHT.Bianca
QUOTE
Not so sure on the greatest generation though jim.
Tom Brokaw thinks so, I think so, and enough others that the title stuck. Can you name any OTHER generations that went through not only depression and the greatest worldwide war in the history of the world?
Can you think of any OTHER generation where we had that many casualties?
Can you think of any OTHER generation where the country came together to oppose a common threat?
Can you think of any OTHER generation that sacrificed material comforts for the good of others?
Can you think of any OTHER generation that sacrificed so much for their own kids and grandkids?
Can you think of any OTHER generation that progressed so quickly--from an agrarian society to a superpower?
Neither can I.
I believe the title fits. Hand SALUTE!
Posted by Common Citizen on Jul. 10 2009,2:55 pm
(bianca @ Jul. 10 2009,1:28 pm)
QUOTE
CC-
Been meaning to inquire on something for awhile. Politics aside, how is business going? You are in the personal savings/ investment business, or something near that line of work, correct? I have just been wondering for sometime now how peoples spending habits are going in that sense. Have you seen any changes in the past year? What is the median ages of the investors you serve/advise etc? Do you see any younger ones inquiring say 30 yo or younger?
........just curious.
Been meaning to inquire on something for awhile. Politics aside, how is business going? You are in the personal savings/ investment business, or something near that line of work, correct? I have just been wondering for sometime now how peoples spending habits are going in that sense. Have you seen any changes in the past year? What is the median ages of the investors you serve/advise etc? Do you see any younger ones inquiring say 30 yo or younger?
........just curious.
Thanks for asking...this subject is a passion of mine.
I do a lot of personal financial planning for families. One thing that is always a road block is that people think they have to be rich to create a sound plan...another common reason is that many are financially embarassed to sit down with a planner.
Find a planner that you trust and that cares about making you successful. If you're successful, the planner will be successful. It doesn't matter where you are at in life financially, find one that is willing to help you. They are out there.
The financial services industry has a black cloud over it right now. Mostly due to the dip$hits on wallstreet and the regulatory bodies (We have the regulations. They just need to be enforced.) Local advisors are just as disgusted with what's going on in Wall Street just like our clients are.
The majority of people are riding it out. My company has a bi-monthly security index that is a measure of Americans’ sentiments towards their overall financial security. Based on a national telephone survey of 3,000 Americans, the index tracks how secure Americans feel about their own financial situation in relation to their stage in life. Survey questions range from taking care of short-term needs and protecting current assets to planning for the future. On a scale of 100, 100 being financially secure, it is currently at 64.6 points, down from 70 where it peaked last August.
I have been doing numerous 401(k) rollovers from people being laid off or being fired. I've noticed people getting fired from their jobs for very minor reasons. Reasons that would normally warrant a reprimand but not a firing and these are usually coming from publicly traded companies.
More and more younger familes are opting for term life insurance than they are traditional life insurance because of the cost. Even more are searching for their own health insurance because their employer has changed the benefit or people are finding new jobs that do not offer a health plan.
Numerous auto and home insurers have raised their rates in the past 6 -12 months which causes more and more people to shop to save on costs. My recommendation is to not buy insurance on cost but on quality because many of these insurers are hurting financially. You'll want to go with a company that has a strong balance sheet because you want them to be there when you need them most. Don't ignore that part of the equation.
The majority of my clients are over 40, empty nesters. They tend to have more discretionary income to put towards their finances and they are more serious about retirement. The flaw with this is that it is so much more expensive to fund retirement starting at this age then it would at age 25. My favorite clients are the enthusiastic 20 something's. They are making more money than they ever have. They haven't been loaded down with a ton of debt yet and if they're willing to take advice, they will be in excellent shape come retirement or during a catastrophic event. I would hate to see any of my clients become the subject of a local fundraiser because they weren't prepared, but it happens more than you think in our little burg.
I have also noticed a lot more NSF issues then in past when it comes to paying for insurance. This is a sign that many are having cash flow issues.
As far as spending habits...
I saw the most dramatic change in spending habits last year when gas was at $4 a gallon. Everyone was more conscience of where their money was going. Since gas has backed off I've notice an uptick in my property/casualty business insuring toys like campers, boats, motorcycles, etc... The only place I've seen a decline is insuring new autos. People are keeping their vehicles longer so not a lot of turn over there in my business.
Like I said, many clients have different priorities when it comes to financial security for their families. It is not uncommon for a family to only have $50,000 in life insurance, claim they can't afford to have any more to protect their family, yet they're paying for 3 cell phones, cable tv, the internet, own a 4 wheeler, a snowmobile or two, maybe a camper, or take a trip to (enter vacation destination) every year. It just comes down to what people think is important in their lives. The familes that can't afford the toys usually have a difficult time affording anything. 2 snowmobiles and a camper doesn't go very far when one of the income earner's dies or becomes seriously ill and now the family has 50% less income coming in. Talk about a change in lifestyle. Don't get me wrong...I love to have fun too, but most families find it challenging to balance "having fun" with protecting the family.
In my opinion, financial security has taken a back seat to the "got to have it now" gizmo of the day. Most of my friends are not wealthy by any means, but they sure do love their toys and their gadgets.
Freeborn county has been pretty stable from an economic standpoint, imo.. I'm not saying that we have a strong economy...just a stable one. Imagine what would happen to Austin if Hormel shut its doors? We do not have any one single industry supporting our town like Austin has on that type of scale. Sometimes that can be viewed as a good thing.
Posted by bianca on Jul. 10 2009,2:59 pm
QUOTE
Tom Brokaw thinks so, I think so, and enough others that the title stuck.
Well.............in that case if TOM BROKAW said it and wrote about it it MUST be true.
Posted by bianca on Jul. 10 2009,3:21 pm
CC-Thanks for all of the input, and clear response. I had been curious for some time about how this has or is changing. Very interesting information.
I had heard of people losing their jobs around here for bogus reasons for awhile. Just last week a friend had this happen to her. Their reason: Punching in (less than 5 mins) late for her lunchbreak twice in one year....and it wasn't even in the last couple of months.
I've heard of others who have a new three strike policy. One man got all three in one day and was escorted out the door. #1 late that day #2 dropping a radio and the third he made an unsavory comment to a gal he apparently didn't want help from. My opinion, the man would've probably still had a job if he had just stayed home on his "bad hair day."
This company also has a third "late" or "call-in" in one year and you're automatically fired. The sad thing is that some of these people actually try it and find out they meant business. 
I'm sure we've all heard how employers are downsizing so I was curious to know if people cash their 401's in for living expenses until they find a new job or re-invest the money.
Again, thanks for the info.
Posted by Common Citizen on Jul. 10 2009,3:52 pm
Usually people will roll everything to an IRA but I recently had an extreme case where both husband and wife lost their jobs within about a month of each other. Two small kids and a mortgage. The only savings they had was their retirement plans. They rolled them into an IRA. They took an early distribution of 75% of their money and they will leaving the other 25% in a safe investment should they need that as well in the future. Even though they lost their job they actually won't have any less of a tax bill at the end of the year. Their distribution is counted as ordinary income plus the 10% early withdrawal penalty. In their case, they could use the distribution to pay for their health insurance premiums to avoid the 10% penalty.
Don't you just love it when the gov't kicks you when you're down? I wish the Gov't would waive taxes and penalties on qualified plan distributions for people who have lost their jobs, up to the amount of their income lost, until they can find a new job.
Only as a last resort, should people take an early withdrawal from their IRA's or 401(k)'s. Keep in mind...if you have a loan on your 401(k) and you lose your job, it becomes taxable income with a 10% penalty if you do not pay off the loan before rolling it out of the company.
Posted by jimhanson on Jul. 10 2009,4:30 pm
CC--great response, good advice. I was particularly interest to read about the UPTICK in toys, campers, etc. and that consumer confidence was only down 5 points.Despite all of the doom and gloom, we really DO ride it out fairly well here in the Midwest. We don't have the big highs of the Coasts, but we don't have the big lows, either.
Yet another example of "Nothing happens in the U.S. unless it affects the media centers."
Posted by jimhanson on Jul. 10 2009,4:39 pm
(bianca @ Jul. 10 2009,2:59 pm)
QUOTE
QUOTE
Tom Brokaw thinks so, I think so, and enough others that the title stuck.
Well.............in that case if TOM BROKAW said it and wrote about it it MUST be true.
Maybe I need to slow down a bit for you.
Tom Brokaw wrote the eponymous book The Greatest Generation--that's why I mentioned him. Ever since he wrote the book, that's what people have been calling that generation.
You DID know that he was the author of the book, don't you? Otherwise, your response would make no sense.
Mention GREATEST GENERATION to MOST people, and that is the generation MOST people will identify with--hence
QUOTE
Tom Brokaw thinks so, I think so, and enough others that the title stuck.
Tom Brokaw is also a liberal--a bone I threw to you.
You obviously disagree. I asked you pointed questions regarding YOUR selection of any OTHER generation over the "Greatest Generation." You didn't answer. Did the Hayson's raise ANY kids that know what a question or interrogatory is?
Here they are AGAIN, so you don't have to go to the effort to look them up.
QUOTE
Can you name any OTHER generations that went through not only depression and the greatest worldwide war in the history of the world?
Can you think of any OTHER generation where we had that many casualties?
Can you think of any OTHER generation where the country came together to oppose a common threat?
Can you think of any OTHER generation that sacrificed material comforts for the good of others?
Can you think of any OTHER generation that sacrificed so much for their own kids and grandkids?
Can you think of any OTHER generation that progressed so quickly--from an agrarian society to a superpower?
Posted by bianca on Jul. 13 2009,3:15 pm
Maybe when you start asking questions that aren't conservatively biased questions I MIGHT think about it. 
Your questions resemble the Scott Rasmussen poll reports that you constantly post poll numbers for ( if he doesn't lean toward the right then please tell why he commentates for FOX news as a frequent guest?
)......when you, or Scott Rasmussen ask questions pointing in a conservative direction/slant ( robo-calls, in his case) chances are favorable that you're going to get answers that "slant" toward the loaded questions. Hello......anyone in there that can understand where and why you refuse to see both sides of the topic. You might actually learn how to think fair and balanced if you get off the "right" side.
As an opinion....I don't know which generation is the greatest, something I would have to think about because I truly believe all of the generations have contributed and sacraficed for their children and grandchildren and sacraficed lives which has led us to being where we are today.
Posted by jimhanson on Jul. 13 2009,5:28 pm
Bianca QUOTE
Maybe when you start asking questions that aren't conservatively biased questions I MIGHT think about it.
Conservatively based questions? What's conservatively based about THESE questions--the ones you have twice avoided addressing. QUOTE
Can you name any OTHER generations that went through not only depression and the greatest worldwide war in the history of the world?
Can you think of any OTHER generation where we had that many casualties?
Can you think of any OTHER generation where the country came together to oppose a common threat?
Can you think of any OTHER generation that sacrificed material comforts for the good of others?
Can you think of any OTHER generation that sacrificed so much for their own kids and grandkids?
Can you think of any OTHER generation that progressed so quickly--from an agrarian society to a superpower?
Can you think of any OTHER generation where we had that many casualties?
Can you think of any OTHER generation where the country came together to oppose a common threat?
Can you think of any OTHER generation that sacrificed material comforts for the good of others?
Can you think of any OTHER generation that sacrificed so much for their own kids and grandkids?
Can you think of any OTHER generation that progressed so quickly--from an agrarian society to a superpower?
There's nothing "conservatively based" about these questions--why do you avoid them?
You don't think they DESERVE to be called the "Greatest Generation"--yet you refuse to name (or CAN'T name) a better one.
WHY?QUOTE
Your questions resemble the Scott Rasmussen poll reports that you constantly post poll numbers for ( if he doesn't lean toward the right then please tell why he commentates for FOX news as a frequent guest?
Much to the dismay of libbies, Rassmussen polls have been the closest in each election since 2000. If it makes you feel better, your brother consistently refuses to address the Gallup poll of June 15, showing TWICE as many people self-identify as conservatives as liberals. What's with the Haysons--you only accept the results you LIKE? QUOTE
As an opinion....I don't know which generation is the greatest, something I would have to think about because I truly believe all of the generations have contributed and sacraficed for their children and grandchildren and sacraficed lives which has led us to being where we are today.
Typical libbie--"There should be no winners, and losers--if I don't keep score, there won't BE any winners or losers. I'm helpless, and unable to make a decision. Maybe the GOVERNMENT will tell me what to think!"
Let's try this once again--S L O W L Y.
"Comparing to the generation that grew up during WW II and the the Depression--do you think that the Boomers sacrificed as much as they did?"
"Comparing to the generation that grew up during WW II and the Depression--do you think "Generation X" sacrificed as much as they did?"
"Compared to the generation that grew up during WW II and the Depression, do you think that "Generation Y (or "Why") sacrificed as much as they did?"
"Compared to the generation that grew up during WW II and the Depression, do you think that the generation between 1900 and 1925 sacrificed as much as they did?"
If the answer is YES to any of the above, tell us WHY.
See, that's not so hard, is it?
Posted by bianca on Jul. 13 2009,10:06 pm
I know one thing for sure....you have more spins than a tilt-a whirl.Where did you get that I said they didn't DESERVE that title? Where do you get that I say/said that there is a better one?
This doesn't have anything to do with whether I am a liberal or not. Get a grip!Your opinion isn't the only one that matters, regardless of what you dream up.
QUOTE
Maybe the GOVERNMENT will tell me what to think!
I think this quote identifies you, more than I. I can form my own opinion rather than taking Tom Brokaws word for it because he wrote a book on it.
For Gods sakes man, the questions you pose come straight out of the information given in wiki. Doesn't make it true, it is just given as an explanation of Tom Brokaws books. Please don't take wiki as the gospel, remember wiki CAN be edited which to me is far from reliable information but this I have told you time and time again. Wiki is not credible. Aaaargh!
Any original thoughts/opinions in that thick
conservative head of yours??Do I believe that every generation suffered or sacrificed for their children/grandchildren or sacrificed lives for our country? IMO, yes, as will generations to come.
This is my opinion, jim, whether you like it or not I can disagree with you and the world will not come to an end.
Posted by nphilbro on Jul. 13 2009,11:13 pm
Let's look at it from the point of view of the new recession. What do we do to conserve?#1 - I bring my own bags to grocery stores. Kinda lame, but I find it easier.
#2 - I have tried to make the presents at my children's (4-6) birthday parties a donation in my child's name to a charity the family believes in or will find important to them for many years. My kids have so much crap already and they have parents and grandparents that will always provide.
I was overridden last year for my boy's b-day. That ecological disaster happened at McDonalds.
This year - it's fishing. In a public park with other boys 5-7 years. I will buy him a new bike. I will ask the parents to please donate to Swedish Childrens Fund, Ronald McDonald House, American Cancer Society, or another charity they would have always liked to donate to but never did. Each invitation will include an apple shaped piece of construction paper that will let them give the name of the charity as a present to my son.
I need to show my grandfather up. It won't be easy.
I don't care if they actually do it. I just want them to think about it.
Gen-X, we could be the new greatest generation.
Posted by bianca on Jul. 14 2009,12:48 am
Exactly
Posted by davejar on Jul. 14 2009,1:54 am
(Common Citizen @ Jul. 09 2009,2:37 pm)
QUOTE
QUOTE
By John Sullivan | Published July 9, 2009
From the Boomer Market Advisor Watch Newsletter: Boomer Insurance Watch — July 9, 2009
Thank boomers for periods of low market volatility? Actually, yes. As Newsweek notes, there was a glorious time between the mid-1980s and 2007 when inflation was low, economies boomed, and recessions were short and infrequent. Economists have wracked their brains trying to explain this period of time. Some attribute it to the rise of China and India, which fed the world with low-cost goods. Others say it was Alan Greenspan's skilled manipulation of interest rates. Others think it was just blind luck. Now, two economists at the Minneapolis Federal Reserve say we have baby boomers to thank. According to the economists:
“We find that demographic change accounts for roughly one fifth to one third of the moderation experienced in the U.S. Clearly, demographic change is not the sole factor responsible for this episode; nevertheless, demographic change constitutes a common factor relevant for understanding the evolution of business cycle volatility — not only in the U.S., but also in other G7 countries — over the past four decades.”
In other words, as the article explains, age profiles had a lot to do with this long period of low volatility. The authors point out that young people are extremely susceptible to business cycle fluctuations. When the economy turns south, they lose their jobs faster than everyone else, since they're seen as inexperienced and often transitory labor. Middle-aged careerists are less expendable, both because of their social situation (families to take care of, mortgages to pay) and their on-the-job experience, which is more highly valued in a soft economy.
From the Boomer Market Advisor Watch Newsletter: Boomer Insurance Watch — July 9, 2009
Thank boomers for periods of low market volatility? Actually, yes. As Newsweek notes, there was a glorious time between the mid-1980s and 2007 when inflation was low, economies boomed, and recessions were short and infrequent. Economists have wracked their brains trying to explain this period of time. Some attribute it to the rise of China and India, which fed the world with low-cost goods. Others say it was Alan Greenspan's skilled manipulation of interest rates. Others think it was just blind luck. Now, two economists at the Minneapolis Federal Reserve say we have baby boomers to thank. According to the economists:
“We find that demographic change accounts for roughly one fifth to one third of the moderation experienced in the U.S. Clearly, demographic change is not the sole factor responsible for this episode; nevertheless, demographic change constitutes a common factor relevant for understanding the evolution of business cycle volatility — not only in the U.S., but also in other G7 countries — over the past four decades.”
In other words, as the article explains, age profiles had a lot to do with this long period of low volatility. The authors point out that young people are extremely susceptible to business cycle fluctuations. When the economy turns south, they lose their jobs faster than everyone else, since they're seen as inexperienced and often transitory labor. Middle-aged careerists are less expendable, both because of their social situation (families to take care of, mortgages to pay) and their on-the-job experience, which is more highly valued in a soft economy.
This guy is just making up stuff. Where is the hard evidence to back up what he says? It would take a lot of research and several finely tuned polls to ferret out any conclusions about the last 27 years in the financial world...
Posted by Paul Harvey on Jul. 14 2009,2:22 am
Ya, I guess you're the arbiter of what's made up. 
Posted by Spock of Vulcan on Jul. 14 2009,8:57 am
Scott Rasmussen poll = make up your own numbersI should get into the fake poll business myself, lol.
Posted by Common Citizen on Jul. 14 2009,9:31 am
(Spock of Vulcan @ Jul. 14 2009,8:57 am)
QUOTE
I should get into the fake poll business myself, lol.
This is the Obama era...you won't be allowed to start anything like that unless you give them a 60/40 split... pretty good deal, huh?
Instead, have a hymie...
you'll feel better.
Posted by jimhanson on Jul. 14 2009,1:44 pm
Bianca QUOTE
Where did you get that I said they didn't DESERVE that title? Where do you get that I say/said that there is a better one
MAYBE IT WOULD BE FROM YOUR POST YESTERDAY?
Bianca
QUOTE
Not so sure on the greatest generation though jim. Most of them are/were definitely great at pinching pennies but some of them to too much of an extreme. Doesn't help stimulate the economy much when hundreds of thousands of dollars are stored in their basement freezer because they are "afraid" the banks are going bust.
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Your opinion isn't the only one that matters, regardless of what you dream up.
Yes, it IS my opinion--one that MOST Americans share. You, apparently, DO NOT--yet YOU CAN'T (or REFUSE to) NAME A BETTER ONE.QUOTE
I think this quote identifies you, more than I. I can form my own opinion rather than taking Tom Brokaws word for it because he wrote a book on it.
For Gods sakes man, the questions you pose come straight out of the information given in wiki. Doesn't make it true, it is just given as an explanation of Tom Brokaws books. Please don't take wiki as the gospel, remember wiki CAN be edited which to me is far from reliable information but this I have told you time and time again. Wiki is not credible. Aaaargh!
For Gods sakes man, the questions you pose come straight out of the information given in wiki. Doesn't make it true, it is just given as an explanation of Tom Brokaws books. Please don't take wiki as the gospel, remember wiki CAN be edited which to me is far from reliable information but this I have told you time and time again. Wiki is not credible. Aaaargh!
I mentioned Tom Brokaw--but only because he wrote the book by that name--the basis for many people's agreement and perhaps the biggest factor in the use of the term. He is also a libbie--a bone I threw to you to help you relate.
Contrary to your assertion, I've never looked at the wiki website on Brokaw OR his book--I've simple READ it.
I've asked you SEVERAL times for YOUR opinion, and WHY you think so--but you consistently duck the questions. Why?
This is the OPINION section in a DISCUSSION forum--tell us WHY you don't think they deserve this, and who would be better?
You DO have your OWN opinion, do you not?
Posted by jimhanson on Jul. 14 2009,1:52 pm
(Spock of Vulcan @ Jul. 14 2009,8:57 am)
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Scott Rasmussen poll = make up your own numbers
I should get into the fake poll business myself, lol.
I should get into the fake poll business myself, lol.
The Fool of the Forum pops up again!
Can you give an example of why Rasmussen is WRONG?
Can you provide evidence that any OTHER poll is more accurate than Rasmussen?
I ALSO referenced the GALLUP poll, which backs up Rassmussen. Are THEY wrong, too?
Or are you just making this crap up--like the "Bush's jeweled cowboy boots?"
Posted by hymiebravo on Jul. 14 2009,7:05 pm
(Common Citizen @ Jul. 14 2009,9:31 am)
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(Spock of Vulcan @ Jul. 14 2009,8:57 am)
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I should get into the fake poll business myself, lol.
This is the Obama era...you won't be allowed to start anything like that unless you give them a 60/40 split... pretty good deal, huh?
Instead, have a hymie...
you'll feel better.Outstanding thought provoking contribution "Mr Posts of Substance".
Perhaps next time you might want to actually address the individual who commented on the material that you presented.
Posted by bianca on Jul. 15 2009,1:11 am
Lets review....shall weBianca
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Where did you get that I said they didn't DESERVE that title? Where do you get that I say/said that there is a better one
jimhanson
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MAYBE IT WOULD BE FROM YOUR POST YESTERDAY?
but then, jimhanson,you say....
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This is the OPINION section in a DISCUSSION forum--tell us WHY you don't think they deserve this, and who would be better?
(I think this just may be a contradiction in your post...I think you're slippin' jimhanson.)
hmmmmm......here we go again with those twists and turns......and whacked interpretation that you are so well at.
Pay attention now....
I think every generation has sacrificed and I am proud of our roots. I think we should be proud of every generation and I believe that every generation has sacrificed.
(end of pageant speech) Is that acceptable?
Wow!
You say it's an opinion discussion yet you consistently FAIL to see that I AM giving you my opinion. How does one supply proof to ones' opinion?! Seriously, rather than being on the defensive ALL the time I suggest you actually read ALL of the post and try to COMPREHEND what has been said, and then maybe respond in a rational manner. "Rational" of course being the key word here.
Is that possible?
I'd love to come take your blood pressure when you start talking/posting about liberals. I bet it goes off the charts.
Calm down.....it will be ok......the Easter bunny will be back next year. 
Posted by Common Citizen on Jul. 15 2009,1:28 am
(hymiebravo @ Jul. 14 2009,7:05 pm)
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(Common Citizen @ Jul. 14 2009,9:31 am)
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(Spock of Vulcan @ Jul. 14 2009,8:57 am)
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I should get into the fake poll business myself, lol.
This is the Obama era...you won't be allowed to start anything like that unless you give them a 60/40 split... pretty good deal, huh?
Instead, have a hymie...
you'll feel better.Outstanding thought provoking contribution "Mr Posts of Substance".
Perhaps next time you might want to actually address the individual who commented on the material that you presented.
he he...
Posted by jimhanson on Jul. 15 2009,8:46 pm
Can't make up your mind, and afraid to express an opinion. Was I stuck behind you in an ice-cream line once--"Vanilla, Chocolate, or Strawberry? Gee, I don't know, EACH of them has such a RICH HERITAGE to recommend it. I'd feel SO much better if you would make the choice FOR me--or better yet, DON'T GIVE ME A CHOICE! Libbies--never answer a direct question. It's EASY--just pick a question, and tell us what you THINK of it. One like "Can you name a MORE DESERVING generation, and WHY?"
It's a direct response to your "I don't know if they should be called the Greatest Generation" whine.
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I think every generation has sacrificed and I am proud of our roots. I think we should be proud of every generation and I believe that every generation has sacrificed.
(end of pageant speech)
(end of pageant speech)
You are right, that WAS a "pageant speech!"
No WONDER that libbies were so incensed at Ms. California--the girl ACTUALLY TOOK THE TIME TO FORM AND EXPRESS AN OPINION! Libbies are SUPPOSED to be non-judgemental!
Is it any WONDER that John Kerry was your nominee--trying to straddle any issue?
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Wow! You say it's an opinion discussion yet you consistently FAIL to see that I AM giving you my opinion. How does one supply proof to ones' opinion?!
Pretty hard to have a discussion with someone that has no opinion!
Perhaps you would be more at home back with the Democrat Underground types--ALL DONK, ALL THE TIME--NO OTHER OPINIONS ALLOWED.