The next twenty years will be defined not by the battles between Christians vs. Muslims, Dems vs. Reps or Coke vs. Pepsi.
No, it'll be the epic financial and cultural battle between GenX/GenY and the Baby Boomers that will dominate from this point forward. With the first Boomers retiring, America $50 Trillion in debt and growing, GenX/GenY unable to afford a home, and the country facing the complete destruction of its manufacturing base, the battle has begun whether you see it or not.
By the way, I've got my money on the Baby Boomers winning this battle. X/Y are just too damn lazy, clueless and uninterested to compete against the greediest and most self-interested generation of all time. But if the Baby Boomers win this battle, America will become insolvent, and the Boomers kids and their kids and the idiots who bought US bonds will be left holding the bag.
The housing crash is just the start. If X/Y don't buy the depreciating homes of the Boomers, who based their retirements on that one asset (and X/Y keeping the entitlements Ponzi Scheme going), then the battle will have been joined.
X/Y vs. BB - Let's get it on.
In 2030, as 77 million baby boomers hobble into old age, walkers will outnumber strollers; there will be twice as many retirees as there are today but only 18 percent more workers.
How will America handle this demographic overload? How will Social Security and Medicare function with fewer working taxpayers to support these programs?
According to Laurence Kotlikoff and Scott Burns, if our government continues on the course it has set, we'll see skyrocketing tax rates, drastically lower retirement and health benefits, high inflation, a rapidly depreciating dollar, unemployment, and political instability.