Baby Boomers and Depression

The great baby boom happened after the end of the Second World War. This means people will start retiring soon from 2001 until the year 2011. There are over 100 million Americans who were born during this era and as this continues, families will soon experience economic depression in the near future.  

A more disturbing factor is that 60 to 70% of GDP or gross domestic product comes from consumer spending. Should this suddenly decrease, then there is a big problem that will affect the country’s economy as a whole.

In the 1920’s to early 30’s the great depression made the country lose over $90 billion. Should this happen again, the figure will jump to more than $2.6 trillion. That is a lot of zeroes which means, many jobs will be lost and businesses will close which is something like being thrown back into the stone age.  

Can this be avoided? The answer is yes. This will involve implementing self-improvement or enhancement programs in order to overcome baby boomer economic depression.

The first thing to do will be to determine the root of this problem. The person may loose one’s job if companies have to cut down the workforce. This is something no one likes to happen but it does in order to keep the firm alive.

Management may offer early retirement. Should one take it? The answer is yes so that the money given can be used to finance one’s own business. Those who don’t feel like putting up one can put the money in the bank, invest in stocks and then look for another job.

This goes to the second step of being optimistic about the future. Someone once said that, “ you can’t teach an old dog new tricks.” That may be true but humans have the ability to adapt to new conditions and shift to another career that allows one to get up after experiencing a serious setback.

Just like it was mentioned earlier, it wouldn’t hurt to seek other oppurutunities and even invest the assets. There are many places where the individual can see where some fortune can be made such as working for a non-profit organization, in hospitals or even for the Church.

The working class is the single most powerful force in the economy of any country. In the United States, these are the individuals belong to the late 40’s and 50’s age bracket. This just proves that an oncoming economic depression can be avoided as retirees are still able to help the country together with the younger generation nearby.

But can people really prevent the great depression which occurred in the 1920’s to 30’s from happening again? Some say no because this is inevitable. Some analysts suggest that the best thing to do is to prepare for it which is something no one did back then.

This will make it easy for the country and the people to survive through the hardships and again rebuild the economy which was badly hit similar to what survivors do after experiencing the devastation of a strong hurricane.

Is there a relationship between baby boomers and depression? The answer is definitely yes. No one can say that there is a warning this time because the economic slowdown being experienced right now is just the beginning of other things to come.