Gary Anderson Blog | Will Millennials Be The Greatest Generation? Frugality And Trump And Ethics | Talkmarkets
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The Fed knew about the housing bubble before it burst but lied and said they didn't: Bill HR 1424 to buy bad paper (eventually called TARP) was introduced in March 9, 2007, before there began to be bad commercial paper from private subprime RE loans, in August.

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Will Millennials Be The Greatest Generation? Frugality And Trump And Ethics

Date: Monday, March 7, 2016 11:12 AM EDT

The Millennials are not held in high regard as a generation by the pundits and bankers. They don't buy big ticket items. They live at home. They rent. They are frugal. But it may be up to them to restore the Peace of Westphalia. [There is always disputes about the ages of the generations, but the Millennials are generally thought to comprise a time of birth from 1982 to 2002. These dates are not set in stone.]

The Greatest Generation, crowned with the title by Tom Brokaw, suprisingly had traits in common with the Millennials and some that were not as redeeming as those held by Millennials. The Greatest Generation (born 1901-1924) was labeled as such because they experienced the difficult economic times of the Great Depression. They did not borrow much. When they bought houses, the houses were cheaper.

The Baby Boomers (1946-1964), did buy expensive, inflated houses and paid the price for too much debt in the housing bubble and crash, as did Generation X (born 1965 to 1982). These generations took on too much debt. Rather than praise these generations for making them money, the bankers and their media minions loathe the Baby Boomers even as they made big banking rich. Easy money from bankers allowed the boomers to take risk that proved disastrous.

Yet the bankers fear the Millennials even more. They are frugal, and they mean to stay that way. If they buy houses it will have to be a reflection of their prosperity, and that is not widespread, although about 1 in 10 make more than $100 thousand dollars per year.

The Greatest Generation is noted as such because of their character, bravery, willing to keep America free. They also were backed up by the Silent Generation (1925-1945), in that call to duty. The Boomers hated the never ending Vietnam War. Their lack of cooperation was no doubt the motive for the professional army, which fights on and on endlessly in the middle east.

It isn't lack of bravery that caused the Baby Boomers to shirk stupid and ill fated wars of greed. They never had the opportunity to prove themselves in a real war of national self defense like World War 2.

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Moon Kil Woong 3 years ago Contributor's comment

The baby boomers had to fight a war to prevent racism and tyranny. Americans today merely need to plug their nose and turn away from the bad entertainment of Trump. Hopefully this will be one of the new generations great proof that the moral and ethical integrity of the baby boomers who fought and won WWII still survives. WWII war veterans should be aghast that such blatant hate mongering has survived this long in American politics.

Gary Anderson 3 years ago Author's comment

True, except the boomers came after WW2. Just a small point, that the Greatest Generation and some of the Silent Generation were involved in the war.

Moon Kil Woong 3 years ago Contributor's comment

Gary, you are right, I am speaking more of the Greatest Generation, however they still fought the Vietnam and Cold war so I still give them cultural credit for having America lead the world against injustice instead of preaching isolationism and hate for its own allies.

Gary Anderson 3 years ago Author's comment

Well, I have always viewed the Vietnam war in an unfavorable light, not because boomers fought it, but because it was a no win war that was deliberately understaffed so that it could continue on and on. That was a money maker for sure. It was a dirty little war with the military saying they had enough troops when they really didn't. There is some evidence that Westmoreland lied about troop requirements. The real heroes were boomers who protested the war, to stop the boys from being slaughtered by the hundreds each week!

Gary Anderson 3 years ago Author's comment

Sorry, correction. The silent generation was 1925 to 1945.