This repost of Neil Howe’s June 12 2012 post is literally the MOST important BLOG post for all thinking citizens concerned about their financial future to read! Neil -in my humble opinion- of the most important Thought Leaders of our day and I was fortunate enough to meet him when we had him on Countermeasures last September with Rebecca Costa (co-author of Generations and The 4th Turning). Bookmark his blog for future reading, but my purpose today is to re-link you directly to yesterday’s post entitled “Once Again, Economy Hammers Gen-Xers and Favors the Silent. If you are unfamiliar with Neil’s work then this will be a relevant and inspiring introduction to follow it more closely as you look for insight into where we are in the current 100 year cycle, where we are heading, and what is on the other side.
An Excerpt from the end of the post is below following commentary around the Fed’s most recent analytic report on the Net Worth of American Families. Both Generations (1991) and The Fourth Turning (1997) predicted with near accuracy the data and trajectory of the present times, and this post revisits many of the key analysis alongside yesterday’s data release. The closing paragraph is excerpted below to create the context and inspire you to read the entire post.
“Just-released Fed data confirms what we have always known about likely economic trajectory of today’s generations: Through the Third Turning and into the initial stages of the Fourth, the Silent will prosper, Boomers will cope with declining expectations, and Gen-Xers will get hammered.
Thoughout history, we have argued, inequality both by class and by age reaches its apogee entering the Crisis era. Indeed, part of the historical purpose of the Crisis is tear down dysfunctional institutions, vacate positions of entitlement and privilege, rectify the inequality, and create a tabula rasa on which the rising generation can build something new.”