20 years Bear Market and the 4th Turning?

[jbocker]

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The problem is that most people still believe the pre-bust credit boom era will be back with us after their "preferred" V-shape recovery. That lending will go back to normal again and that consumption would be as "beyond means" as before. And that asset prices like shares and properties will grow beyond its historic rate (like 30%+ p.a. for shares and 15%+ p.a. for properties) forever.
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Agree with you, baby boomers have to some degree been through their big spending years, ie they are on big earnings, little debt so can spend and invest big money.Banks et al have tried to suck this out of the baby boomers and everyone else to the point where the sub-prime crisis has fallen upon us. Superann in turn has copped a flogging and the retiring baby boomers now are interested in scraping together enough to retire on. Licking their wounds, they probably wont be chasing the investment with such enthusiasm for a while (living in fear, greed will come again no doubt but will the cash be there to spend?). Boom and Bust the cycle continues, growth will return, not at the rates we have just seen, for a while anyway. For the youngsters these are good buying years.