by Karen Roche, The AU Report
The Gold Report: In your latest book, “The Demographic Cliff: How to Survive and Prosper During the Great Deflation of 2014–2019,” you write about the aging of the Baby Boomers and the wave of Gen-X’ers that follows. What does that tell you about the next five years?
Harry Dent: I discovered this relationship, which I call the spending wave, in 1988. Peak spending happens at about age 46 in the U.S., Japan and most developed countries. That is when a generation will earn, spend and borrow the most money. After that age, spending declines.
More than 20 years ago, we predicted Japanese spending would peak in the late 1980s, and U.S. spending around 2007.
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