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Teenager mentality



August 29, 2009 – Comments (3)

John Mauldin is always an excellent read and I love how he compares government choices to how teenagers make choices.

I have often thought that governments behave like undisciplined teens.

But I would have to say that I disagree on with "Reality is staring back in the mirror at the American consumer, and especially the Boomer generation."

Maybe Canada has been different, but unless you were at the tail end of the baby boomers what I have seen is that no generation has every had it better and no other generation has had the magnitude of opportunity for wealth building.  I have 7 uncles from 2 to 12 years older then me, my husband has brothers and sisters 10-14 years older and I have a lot of friends in the 10-15 years older age range and in my age range and younger.  The difference in lifestyle is enormous and it seems to me the generation behind the boomers have done far more training and worked far harder to develop their skills then the boomers.  It seems to me that when I was growing up the adults that were telling me the one thing they wished they'd done different was go to university were far far far more established then my peers with university degrees by the time my peers got to the age of these advice givers.  Perhaps this huge decline in lifestyle between generations was more specific to Vancouver as Vancouver has had the highest housing prices in Canada for almost 20 years now.  And if so, then I'd say this is a model of what is coming to so many more places because of the housing bubbles, so I'd still disagree boomers are the most disadvantaged, they have had the opportunity to be established and to ride this down turn with existing wealth. 

Certainly people of all ages have faced different challenges and some have had more challenges then others those challenges may have limited to completely prevented the ability to embrace the tremendous opportunity, but I tend to think bad choices play a significant role in boomers who are struggling.

3 Comments – Post Your Own

#1) On August 29, 2009 at 10:46 PM, anchak (99.90) wrote:

Yeah I just finished reading that piece by Mauldin.

Its simple 101 - like Debt Servicing ability and all - but then again who cares - that silly isn't it?

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#2) On August 30, 2009 at 8:15 AM, ttboydxb (28.51) wrote:

Thanks for mentioning him in a previous post DWOT, I get all his letters for the last few months, I like the way he presents both sides of an argument....  A good read!

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#3) On August 30, 2009 at 10:34 AM, outoffocus (23.86) wrote:

I definitely have to agree with the boomer comments.  Escpecially in the US.  Boomers experienced a period of unprecedented wealth appreciation, so much so that they consider that the new norm.  At the same time we also saw unprecedented amounts of debt expansion.  That debt made everything outrageously expensive. Now as the boomers are retiring, the debt is collapsing the system, leaving the remaining generations to pick up the pieces. This is be an interesting couple of decades to say the least.

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