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« Steel Looking Glutted | Main | Why Oil Will Fall »

September 29, 2006


Gary Smith

Hi Bill:
It seems to me that 'a little more worried...' is most appropriately titled. It also occurs to me that this data might be more relevant if viewed concurrently with a perspective of (1)National Savings Rate and (2)Gross Net Worth, prefereably by age in decades. Based upon what I have seen published, it does not seem to be 'much of a reach' to believe that the 'Boomer Generation', of which you and I are members, is very far away from a 'holy shit' moment of personal awareness. It occurs to me that when the moment comes, and individuals begin to calculate how they are going to get by on how much, that the national penchant for 'retail spending' on more and more stuff may come to something resembling hard deceleration. IMO, this awareness may well affect both the Boomers and their children. The drums of Sales, Marketing & Advertising Noise can only be beaten so hard before the mechanism begins to be damaged.

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