Tuesday, April 26, 2005

Generation X

I am now offically scared of something really bad happening to our economy. I am thinking that the depression of the 30's may be nothing compared to what is coming. When my parents were growing up, jobs were plentiful. With a high school education, you could get a job at a factory and support a wife and two kids with a nice little picket fence house. Now days, a masters degree doesn't get you much and mom has to work to get the same. I don't know how some people do it... The effects of 9/11 are still echoing across this country. My parents generation, for the most part, have nice pensions to retire and live happily ever after. What percentage of my generation has a pension? Looking around lately, not many. Social Security will not be three when I retire. 401K's, yeah that will help and staring at an earlier age than my parents generation will help, but a million bucks 20 years from now will be chump change. What is going to happen when the bulk of the baby boomers retire and sell out? Will the stock market drop 5,000 points? What will happen when oil hits $100? What will happen when unemployments hits 30% and everyone loses their house? I am thinking some bad thoughts right now. I am scared!

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