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The Clash of Generations (book)
Old 07-27-2012, 10:08 AM   #1
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The Clash of Generations (book)

A relatively new one by Kotlikoff & Burns (good sources IMO). Just reserved it at our local library, has any read it already? Obviously a lot of bad news, but supposedly some suggestions too...
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Old 07-27-2012, 10:28 AM   #2
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I have read their (2004) previous book "The Coming Generational Storm". Someone on this forum provided a link where you could download a PDF copy for free. I suspect that the newer book has a similar theme and conclusions with updated charts.

They clearly show with many graphs and real numbers why things can't continue as they are and how bad it will get if we don't wise up.
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Old 07-27-2012, 10:34 AM   #3
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I have read their (2004) previous book "The Coming Generational Storm". Someone on this forum provided a link where you could download a PDF copy for free.
I found this link for it.

http://people.bu.edu/kotlikof/GenerationalStorm.pdf
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Old 07-27-2012, 10:57 AM   #4
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Thanks for the link, I will now remove my previous attachment so That I don't get in some sort of copyright issue.
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Old 07-27-2012, 11:25 PM   #5
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I've read a good bit of it. I'm in my late 20's so it is concerning to me. I've also recently seen IOUSA and 'Ten Trillion and Counting' (both of which I highly recommend).

If these works are to be believed, the cost of boomers profligate spending will be hoisted onto my generations shoulders'. I do believe we'll eventually get around do doing 'something' about it, and this something will necessarily be a combination of cutting spending, and raising taxes.

I don't personally believe the hype. Taxes may rise somewhat, but I have a hard time believing they'll rise to onerous indentured servitude levels that the authors imply. If they do, there is nothing stopping younger folks from moving somewhere more reasonable. (They site young professionals leaving Uruguay as an example of this).

I do find myself chuckling at the AARP commercials. The mere suggestion of changing our entitlement programs is enough to prompt a blitz of PR spending.

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Old 07-28-2012, 11:41 AM   #6
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I've read a good bit of it. I'm in my late 20's so it is concerning to me. I've also recently seen IOUSA and 'Ten Trillion and Counting' (both of which I highly recommend).

If these works are to be believed, the cost of boomers profligate spending will be hoisted onto my generations shoulders'. I do believe we'll eventually get around do doing 'something' about it, and this something will necessarily be a combination of cutting spending, and raising taxes.

I don't personally believe the hype. Taxes may rise somewhat, but I have a hard time believing they'll rise to onerous indentured servitude levels that the authors imply. If they do, there is nothing stopping younger folks from moving somewhere more reasonable. (They site young professionals leaving Uruguay as an example of this).

I do find myself chuckling at the AARP commercials. The mere suggestion of changing our entitlement programs is enough to prompt a blitz of PR spending.
Thanks. Whether or not it will be onerous is easy enough to determine, Fed spending and revenue numbers are readily available. If there's an easy way to juggle the numbers to bring deficits to manageable level without growth like we haven't seen in a long time, I haven't seen it. I also believe that everyone will have to accept higher taxes and lower spending (services, entitlement growth at least, etc.) - it has to be shared at all economic levels.

And you might find it interesting that many seniors DO NOT agree with the crap that comes out of the AARP, there have been many discussions here in disagreement with their (IMO) selfish views.
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Target AA: 60% equity funds / 35% bond funds / 5% cash
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