Manufacturing is no longer a major factor in the United States. After: We became a service economy and our consumer base of spending was built upon the spending habits of the Baby Boomers. Dewey’s formula, for spending: Being concerned, with that which is simply fashionable; and consequently, post industrial values change from age to age.
The Baby Boomers are fading out of the consumer economy, and not gradually. Many are being forced out of the work place and into an early retirement. The retirement of this population will reduce the requirement for many services, and spending will be dramatically reduced. At the same time, the cost of assisting an ever ageing population will be borne by a reduction of numbers that will supply required services. And this is both a long term problem, and one that will increase throughout the coming decades.
I advise against any type of spending. The retired individual may have already purchased his last automobile. And spending by a government, that will for decades have its revenue stream reduced, will result in disaster. Growth and development, and expenditures, must be confined to the Military and Public Health. Bankers and corporations are on the verge of collapsing and whole countries cannot support its population. Millions of people have moved into Europe, and stressing its generosity. China has a huge population of males, and much fewer females, and this type of social engineering has not survived throughout history. In the past years social engineering in the United States has ruined the economy, and this has pushed culture towards oblivion.
‘Money powers prey upon the nation in times of peace and conspire against it in times of adversity. They are more despotic than a monarchy, more insolent than autocracy, and more selfish than bureaucracy. They denounce, as public enemies, all who question its methods or throw light upon its crimes. I have two enemies, the southern Army and the bankers, of them, the corporations at my rear is my greatest foe. They have been enthroned, and an era of corruption in high places will follow. The Money Power of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated into the hands of a few.’ From: Abraham Lincoln
Don’t be looking for younger years to come… Lincoln’s prophecy has matured. When the Baby Boomers of 2007 mature, they will be incompetent to distinguish good sense from bad.