The Financial Time Machine Predicting Our Economic Future, Again |
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Author:
| Oberst, Robert D. |
ISBN: | 978-1-7366271-6-7 |
Publication Date: | Mar 2024 |
Publisher: | Global Future Press
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Book Format: | Digital online |
List Price: | USD $11.95 |
Book Description:
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When we have a large generation at its financial peak, as we had with the boomers, we have had an extraordinary economic expansion. Conversely, as that generation starts to downsize, we will have a long-term economic contraction. These generational ebbs and flows set a series of waves that pass over the economy representing a tremendous financial force. Until the millennials, the boomers had been the largest generation in the history of the United States, for which the book's models...
More DescriptionWhen we have a large generation at its financial peak, as we had with the boomers, we have had an extraordinary economic expansion. Conversely, as that generation starts to downsize, we will have a long-term economic contraction. These generational ebbs and flows set a series of waves that pass over the economy representing a tremendous financial force. Until the millennials, the boomers had been the largest generation in the history of the United States, for which the book's models predicted the United States' longest expansion lasting 25 years. During this period, the boomers injected an unprecedented amount of economic stimulus into the economy. Granted there were a couple of recessions, but these were relatively mild and until then the period from 1991 until 2001 was the longest without a recession. The original Financial Time Machine (FTM) was published in 2013. Thankful for splendid reviews from around the world and responding to appeals to update the book for the current economic conditions, this is a revised edition. The first version purported to explain how the generational waves have had a major impact on our economy since the Civil War and portrayed what the models predicted for the future. After ten years have passed, the obvious question is how did the machine perform, was it right? Well, the short answer is yes, for the FTM forecast one and possible two recessions, stagnant growth, low unemployment, high inflation and stagflation, all of which came true. In addition to the previous material, the revised version contains three new chapters, the first of which addresses the FTM's performance over the last ten years. It also examines the growing concern regarding our expanding deficits and unsustainable Debt/GDP ratio that has escalated faster than anticipated that would cost the average American family $380,000. The first book discussed megatrends, that would affect the succeeding generations, which have grown worse and is covered in a later chapter. The last chapter puts it all together encompassing the major factors and challenges impacting our economy into the future.