How now, down Dow?
510 is nothing.
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ETA - some may be interested in seeing this article - very chart heavy so not going to C&P it all, click through to read if interested.
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The Millennials Are Coming For The Boomers' Money: One Bank Sees Generational Conflict Breaking Out This Decade
www.corona-stocks.com
The Millennials Are Coming For The Boomers’ Money: One Bank Sees Generational Conflict Breaking Out This Decade
The Millennials Are Coming For The Boomers’ Money: One Bank Sees Generational Conflict Breaking Out This Decade
Published
1 week ago
on
September 12, 2020
By
Tyler Durden
The Millennials Are Coming For The Boomers' Money: One Bank Sees Generational Conflict Breaking Out This Decade
Tyler Durden Sat, 09/12/2020 - 20:00
Late last week,
we published the executive summary from Jim Ried's latest
must read long-term asset return study titled "
Age of Disorder" in which the author makes the case that Economic cycles come and go, "but sitting above them are the wider structural super-cycles that shape everything from economies to asset prices, politics, and our general way of life" Having identified five such cycles over the last 160 years...
- The first era of globalisation (1860-1914)
- The Great Wars and the Depression (1914-1945)
- Bretton Woods and the return to a gold-based monetary system (1945-1971)
- The start of fiat money and the high-inflation era of the 1970s (1971-1980)
- The second era of globalisation (1980-2020?)
- The Age of Disorder (2020?-????)
... Reid thinks the world is on the cusp of a new era – "one that will be characterised initially by disorder."
While there are extensive socio-economic and political implications as this new "Age of Dirsorder" replaces the current outgoing
second era of globalization (touched upon
here)
, one key aspect Reid focused on was the market (after all he
is a banker), and specifically how current record high global valuations are threatened by the coming "new age", which according to the Deutsche Bank strategist would have tremendous implications for eight major global themes from deteriorating US-China relations, to exploding global debt levels, to the coming runaway inflation and even worse wealth and income inequality, but perhaps most importantly to the coming generational conflict between the young ("poor" Milennials and Gen-Zers) and the old (i.e. rich).
Since the generational divide in not only the US but across the developed world has the potential to be even more disruptive than the record wealth gap, we will take a closer look at Reid's observations on why the intergenerational gap has been widening in recent years and looks set to be even more of an issue in the immediate future.
* * *
The intergenerational divide to end this decade?
///snip