And what I'm saying is in today's world, taking a look at anything beyond 4/5 years is pretty much pointless.
Five years ago, people were rampantly flipping houses and becoming millionaires over night in the real estate boom. Outside of the wars, the good times were rolling and maybe 1% of the population saw the impending doom. I did, but only because I turned down a job in mortgages because I saw the loans they were making as unsustainable based upon who they were giving money to. Didn't predict it would be this bad, but knew the gravy train wouldn't last.
Five years before that, people were becoming millionaires over night in the dot.com and technology boom. Probably half the country didn't have cell phones or know how to use email at that time.
20 years ago, we were in the S&L crisis with the government bailing the banks out to the tune of 160 billion, which at that time everyone thought would cripple future generations. Is it even a thought today? Not at all.
That's the point I'm making. Trying to forecast a 20 year period for GDP not only doesn't make any sense, it's impossible to do and a poor argument for lassiez faire economics. The past 50 years shows this. The world moves too fast. Just when people think they have it figured out, planes crash into buildings and all hell breaks loose.
That's why I asked you for examples of previous generation decisions dooming life for future generations. Whether I agree with all this stimulus/bailout or not; one things for certain and that's that five years from now I highly doubt people will even be talking about it. The world will be onto the 'next' thing by then.
