strunkenwhite
Well-known member
Just for the record, what is the distinction you're drawing there?I'm not being a doomer here, just an exceptionally embittered realist who no one will listen to and has no means to effect meaningful change.
Boomers are traditionally defined as being born 1946-64 IIRC. In that case, they have been retiring for a while now; the oldest of them are 74. The last of the boomers won't retire for a while yet; the youngest of them is 56. I agree that the boomer retirement wave may precipitate a crisis, but it won't be as sudden as "nothing has happened yet but this is the year!"this is the last year before the baby boomers retire and a global credit crunch happens, this is structural and built into the system. The good days are ending and we are running out of other peoples money.
I think things will be fixed but its going to take at least 80 years and millions of people will die horribly during the process.
I predict that the crisis, if it happens, will either take the form of the oldsters in electoral rebellion against modest welfare cuts needed to keep the nation solvent, or youngsters in electoral rebellion against a gerontocracy taking the budget on a death ride. If the latter rebellion fails, I can believe that the consequences could be so dire as to take 80 years to recover from.