Despite the recent crashes in the housing and stock markets, the boomers still remain the most influencial economic group today. Most of them have paid off their houses and many of them have inherited wealth from their parents.
While most of the boomers have taken a haircut on their home equity and stock portfolio, they're still able to function mentally and financially in the present time.
Like the ruling establishment during the late 1960s and the early 1970s who called the shots back then, the financial establishment called the shots in the early 21st century. The boomers fought against the latter, now they're fighting against the former.
The corrupt political establishment went down with Nixon and Watergate in 1973. In a similar way, the corrupt financial establishment went down with its "investments" in 2008.
The ones who lost billions, millions and hundreds of thousands of dollars, not only lost money but hope as well. Their pessimism permeates the media. Why? Misery loves company.
With all the speculation going on over subprime mortgages, oil and commodities, it was only a matter of time before these HOT AIR BALLOONS came back to Earth.
Most of us are being forced to pay off debts and spend and invest wisely. With governments this includes work on necessary infrastructure projects like roads, sewers and bridges that have been neglected for a long time.
This also includes investment in green technology which will replace much of the 20th century manufacturing base of gasoline engines and dirty energy.
Many baby boomers want to live another 30 or 40 years after retirement, so they continue to be actively engaged in 21st century life. They demand change and progress in the global financial/economic community.
They will invest in the next big thing and the investment programs of Obama and other leaders in the world.
They won't hang back and dwell on the losses of 2007 and 2008. They will move forward to a more prosperous future.
a-ok
St Johns 