Life on the Edge, Continued
By John Mauldin
At the conclusion of my conference yesterday, I did a number of interviews and then made my way a few miles home, collapsed into my favorite chair, and thought back over the myriad of ideas, the whirlwind of friends, and the just general all-around fabulous time I had experienced over the past four days.
Yes, the protected in all nations thrived – the rich by selling their products into ever growing markets and the symbolic analysts (that’s us word and number smiths) by managing ever larger and more complex systems.
We have foregone the hope part of the equation, and now just want the change. And if the new change doesn’t work for us, you can bet that in 2020 we will be looking for more and different and deeper change.
Thank you so much for your continued sharing of knowledge and personal insights.
Obviously, part of the problem is the loss of earning power of Boomers as they are now past their prime earning years (the youngest is 52) if not retiring for all the reasons – i.e. loss of job, illness/disability, age (the oldest is now 70) – which restricts their spending except for medical (a booming job area).
That is, the US developed a very strong economy following WWII, which elevated the standard of living for everyone. But during the last half of the 20th century we began to focus on things other than production, mostly at the demands of Progressives.
Our ability to produce wealth diminished in relation to an increasing expected standard of living.