I think they better revise their forecast.... DOWNWARD. We will not grow under the current circumstances. It will take the rest of this administration and most of the next, if it is desirous of change, for any improvement.... at least another 6 to 8 years for us to see real improvement to the mean. Until there is regime change any growth will be in spite of the regime.
Someday, if we survive as a republic at all, we may revert to the mean. Similar to the 80s it could be a period of immense growth. Unlike the 80s we will be trained labor force restrained and so the growth may not take place. Add to that the sad state of our production base... it is much gone.
I’m counting on reversion to the mean to take me into retirement. Without that it will be work until I die because there is not enough return on investment to retire without harvesting the nest egg. Never a good plan.
As for work, 40mm Gen X will not replace 80mm Boomers anytime soon. The largest jobs growth group in the nation... 50is and up. Remarkable.
I agree with you, 100%. I’m 53 and have really hit my employment stride these past few years. I’m experienced enough to do my job, but still relatively ‘cheap to keep’ from an employers standpoint. Also mature enough to show up on time, get things done, etc.
My plan is to pay off my farm, ASAP. It’s the only debt I have and without any debt, I’ll have much better cash flow (for what THAT’S worth - *Rolleyes*) in case I do become unemployed - via downsizing or my health takes a dive, or I’m injured, etc.
I’ll downsize in another decade when the market turns around. If. And then I SHOULD have enough money to get me through the following Tuesday, LOL!
It’s SO disheartening, isn’t it? I used to be such a generous, giving person - now I’d just as soon everyone else p*ss off and leave me alone. Well, mostly Government, but still. ;)