Rent To Own

[cjppjc]

Re: Rent To Own

I hear you guys. That's certainly how it has worked up until now. My thesis is that when the budget crisis becomes acute, more working-age voters will get out to the polls, and vote their immediate self-interest.

I could be wrong -- I thought the last election was going to be a Clinton vs. Giuliani contest, so obviously my acumen for political forecasting is low.

We'll see about the turn out at the polls. As for Clinton V Giuliani, I thought the same thing. Here on the east coast it was the rematch we were looking forward to. Rudy didn't run for the Senate becuse of an illness. Prostrate cancer I think. Clinton ran almost unapposed.

[raja]

Re: Rent To Own

I think demograpichly boomers and seniors turn out in large numbers. The politicians will pander to the greatest number of voters. That is one reason you can expect inflation over entitlement cuts. Foriegn bond holders don't get to vote.

Keep in mind that almost every boomer is likely the parent of some children who won't look kindly at having to support their parents, or have their parents move in with them. So the voters with a stake in this issue is quite large, consisting of the boomers and all their progeny.

[mcgurme]

Re: Rent To Own

Keep in mind that almost every boomer is likely the parent of some children who won't look kindly at having to support their parents, or have their parents move in with them. So the voters with a stake in this issue is quite large, consisting of the boomers and all their progeny.

You hit the nail on the head for me. I have tried in vain to convince my parents to take more appropriate steps to preserve at least a bit of wealth. My in laws are currently on an expensive vacation, part of their busy retirement travel schedule. Yet when we recently approached these folks for a small business loan (to expand a viable business with positive cash flow), they said no, it was too much "risk." I am pi&*ed off. When their wealth is destroyed by inflation, and they need us to support them, it is going to be very hard to forget their opulent lifestyles and unwillingness to assist us when we needed it. They would rather remain fully invested in the lie of FIRE, than investing a tiny fraction of that wealth in our efforts to rebuild the PC economy. Sad. Fortunately we found capital elsewhere.

This selfish and shortsighted attitude is not unique to them. It seems to have permeated a large fraction of that generation. I don't know what happened to transform so many from "peace and love" into "gimme gimme gimme," but when they come asking for handouts from the younger generations, there may not be much sympathy available.