I wouldn't hold my breath for this..... my observation is the boomers are maxed out and/or have limited spending requirements (ie, all the cars, houses, furniture, etc they would want)..... Although maybe the increased spending for the boomers may come in the form of "forced" spending such as health care, energy, taxes or other requirements....someone else is going to have to pick up in the general spending arena.... Just an opinion....
CNBC is a real time carricature of its old self. Only watch for laughs now. I especially like it when Maria announces that "Cox is up" or "there's strong demand for Cox on the floor". Turn down the sound around 10:00 am.
That Dow is at 36000 or even 10000000000 what's matter is the true value of buying power. And comparing the level of buying power of a dollar in 1982 and 1962 according to Barron's was that 1 dollar of 1982 could only buy 0.12 cents of 1962. Imagine now. In France it's the same thing. Inflation in market price is just reflecting that ! Fantastic how people in 21th century believe in delusion like tulips or South Sea Buble.
There is an article at New York Times today about the drastic increase in the number of students lining up at Financial Aid Office: "It's stunning," said Suzanne Guard, Barnard College's financial director. "It seems that every fifth or sixth one says, `I'm scheduled to be laid off, I've been laid off, I've been out of work for a year, I'm still looking.' The difference this year is so obvious to us." http://www.nytimes.com/2003/03/10/education/10AID.html I do not think the baby boomers have a lot of spending power either.
They were not so idiots: they just profit from the greater fool theory, it's the people that are idiots. And there are still many today who believe in infinite money injection miracle. Money would not be limited if there weren't any burden interests that the nations support to pay theses interests through the taxes and it is not only on one generation but on hundreds generations theorically due to the fantastic amount accumulated and the stock market is not stranger to that - although it will be too long to explain - that is to say your house and houses of your children are virtually the properties of those fews. From generation to generation families are depossed. At the beginning of the century only the father has to work and could support a family of several children. Today the father and the mother have to work and can only support the charges for 1 or 2 children. And tomorrow ...
dent did revise his estimate form 36,00 to 35,000 so lay off him! what a joke, his credibility is shot anyway he has nothing ot lose by toting dow 35,000... i take this thread name is fesicious, but the nasdaq plunge from 5000 is not minor, it essentially confirms the 90's were all BS
Yes I started the thread to be tongue-in-cheek; the outright straight-faces they had on when they said this stuff was truly scary. If there is a silver lining, and these two fools turn out to be right; at least trading will be like the good ol' daze. OK! Best to all, David
I have laughed at many people, to many to mention (see the Manhattan phone book) but can't recall laughing at Buffett EVER. Not enough like him I'm afraid.