The Global Recession from the Tail End of Gen X
The incredible shrinking economy has dominated the chatter at this week’s social outings. Among my age cohort (those born during the Carter Administration), I feel that these conversations evolve in one of two directions, but are both peppered by an extreme sense of Daily Show-sized irony:
- What are your plans for the post-apocalypse? Are you buying gold bars? Silver dimes because they are easier to trade for goods? Have you been out to Jackson Arms to practice your shot? Will we be useless with our white collar skills when civilization collapses? (It’s funny, how we all sound like Peak Oilers now.)
- The interest rate is at or near zero? Our very own lost decade? How did Japan get out of it? Really, 10 years of this? Nah, I think only 3 years, but that may be long enough for Obama to lose his reelection campaign because the people are impatient.
The reason why I think age is so important is because a good number of my friends are embarking on our prime decade, our 30s. So, for this to coincide with a lost decade, we cannot decide if we are blessed or cursed to have populated the last generation of i-banking associates.