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Strategies & Market Trends : THE ZERO HOUR -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (51)	10/27/2009 1:52:29 PM
From: benwood	1 Recommendation Read Replies (1) \| Respond to of 130

Right... it will suck royally and be the cause of increasing public unrest. The growing block of non-workers is going to be a serious problem in coming years. If there weren't so many two-wage earner families from the 90s, I think it would look much more violent out there already. One friend of mine has been unemployed for over a year now, with no prospects. It's because his wife still has a good job and benefits that they aren't on the street. For the young, however, I don't know how they'll react. They've been the entitlement generation, everything handed to them. They'll graduate from college like my son this year into an extremely anemic job market, lower wages, higher debt (for many). It will be hardship that they never dreamed of, and because they have been so pampered (thanks to the ever-inflating debt bubble years) I think they will be the most disgrunted group of all. I think there's also the potential they will adjust the quickest, too -- if they mass and throw the bums out. Any real change is going to come from the new generation that can't even get it's toe in the water. The rest of us cling to the hope that what we've saved, or been promised, won't evaporate, and so we freeze up, paralyzed with fear (or in deep denial) until it is too late.