Money. It is something that everyone wants to earn at one point or another in their lives and something that is most often traded for goods and services. Money can very beneficial in help restoring a community or it can be very dangerous, by someone betting it all a hand in a game of poker, for instance. Good or bad, it doesn’t matter. Money exists and the way someone handles it will be the challenge.
This and other topics were discussed in the book launch of Stephen D. King’s book, “When the Money Runs Out, the End of Western Affluence”. This book looks at not only the progress of the Western World over the last six decades, but also looks at the living standards and the current stagnation of Western economies to step toward a more (hopeful) stable future.
Questions and answers brought more insight about the book after King’s introduction. Six key topics were brought up: the ecological footprint, the generation of the baby boomers, the effect of the World War that is currently going on, the attention to Brazil, infrastructure, and any positive analysis.
To highlight one of these topics, the current baby boomers are reaching retirement and there is always the question of who will take over? This is where the second generation of the baby boomers comes into play, those being born after 1990. The biggest change between each generation of boomers from a U.S. demographic point-of-view is the young Americans not finding jobs and long-term unemployment, which in turn is losing hope for them to pick up the pieces and move forward. The hope for any past generations is to find a way to leave a good legacy behind, so that the next generation can take over. The question that follows is who will benefit more economically? This question may not have one direct answer, but will always makes for a lively discussion.