Originally published at: https://blog.12min.com/the-great-boom-ahead-summary/
YOUR COMPREHENSIVE GUIDE TO PERSONAL AND BUSINESS PROFIT IN THE NEW ERA OF PROSPERITY
Have you ever heard of the baby-boomers’ spending patterns? If the answer is yes then, you are among those capable of predicting the economy.
Beware of the new “great depression” lurking around every corner.
Who Should Read "The Great Boom Ahead"? And Why?Perhaps the new generation has more possibilities, lots of things to enjoy, so you should ask yourself – Can the population handle the new Boom, which is “raging” ahead.
By using the proper tools as Harry S. Dent, Jr. advises, you can precisely predict the economy. As said earlier, this book is not just an answer machine for economists.
To comprehend every aspect of the modern economic boom, you should study the Generation Wave of population growth, and in what way people spend their money – analyze their behavior.
“The Great Boom Ahead” is a classic masterpiece, highly recommended for those people keen to understand the United States’ period of record-breaking economic prosperity (and Japan’s difficult times).
About Harry S. DentHarry S. Dent, Jr is an American-born financier and a newsletter writer. He was born in 1950 in Columbia, South Carolina.
After receiving a college degree from Harvard University, Harry started his personal business as the Founder of HS Dent Investment Management – company located in Tampa, Florida.
He is also a person who uses its business experience to influence and manage a few small businesses. There is nothing predictable about him, known for his controversial approach and innovative techniques; he explains his mission as: "Allowing people to see and understand the change.
"The Great Boom Ahead Summary"Don’t take for granted every economist, who fiercely stands for the theory (and endorse it) – that the economy is and has always been elusive and unpredictable. New techniques which evaluate the boom’s effect generated by the people – on the economy, advise that probably the U.S. is in for a lengthened economic growth (despite nation’s debt), predicted to last throughout the coming decade.
The pessimists are so out of line because they put into words their silent mind while claiming – some business cannot lure investors for various reasons. These “allegations” are based on entirely false patterns and forecast methods.
The greatest economic boom in history positioned the U.S. somewhere in the middle between prosperity and debt. Financial analysts identify these long-term trends as easy to foretell.
What do you know about the Generation Wave?
Have you heard about the relation between economy and “The Generation Wave”?
The “Wave” is not just a part of financial secrecy, but also it represents a good way to understand the concept of the economy entirely. For instance, every other economic revolution or trend is just a branch; the roots belong to financial policies.
The Generation Wave demonstrates how people adapt to new economic times and how is the economy inﬂuenced by people from divergent backgrounds. As you can clearly see, the cycle remains predictable.
Each generation contributes to the society by inventing something new; new values are being formed – whether technological, financial or social. The bottom line is - just like in 1928, a year before the Great Depression, the spending power, especially among the Americans, has reached its peak once again.
This situation undoubtedly stimulates the birth of a modern economic boom. The U.S. economists identify the Generation Wave as just another tool responsible for the current prosperity.
In open-circles is also known as the baby boomer.
The term or sentence “The crystal ball drops a few items” has a meaning incomprehensible to many. It indicates that several years have passed since the first publication. Even so, it provides the people with an accurate macroeconomic forecast, as an “investment device.”
If you’ve just felt an urge, or if you sensed some eagerness to learn more about the New Economy, this is the perfect book for you.
Regardless of the economy and its ups and downs, the people must find a way to answer the difficulties of today. The straightforward projections of the new baby-boom generation spending fee will lead to a massive economic expansion in the first half of the 21st century.
Don’t take hold of this theory blindly; the prosperity carries its own “taxes” which we as a population must pay.
The banks support the imposed need for something – which by now is a part of our genes (technological needs, for pleasure, or real estate), they look for credit-worthy persons to make the world spend and lend money unpredictably.
As far as the Japanese economy is concerned, we leave that matter unexplored in this summary.
Your curiosity should quench the thirst for more!
Key Lessons from “The Great Boom Ahead”1. The New Wave and its features 2. The Birth of an Idea 3. Human Model Forecasting is not trustworthy
The New Wave and its featuresThe occurrence of the Generation Wave led to the creation of another: The newly established Innovation Wave. Each generation must contribute to the common technological good.
These innovations are guided by an “S” curve - an innovation stage with restricted adoption, a growth stage, and ultimately maturity stage – representing stability.
The Birth of an IdeaNo other factor has that much influence on the economic growth as the birth rate.
For instance, if you project the birth rate fifty years in advance, you will recognize any given generation’s peak of financial activity or Spending Wave.
Human Model Forecasting is not trustworthyPredicting the future is not an easy thing to do. However, the projecting of trends is a job for the Human Model of Forecasting, which seemingly fails to provide accurate predictions.
The process is merely logical – economy improves, the gain increases.
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“The Great Boom Ahead” Quotes[bctt tweet="To exaggerate only a little, the excessive collaboration between government and business in Japan is far more analogous to the Mafia than to a free-market economy. " username="get12min"]
[bctt tweet=“The economy is very predictable.” username=“get12min”]
[bctt tweet=“Every generation progresses through a predictable cycle.” username=“get12min”]
[bctt tweet=“Study after study has proven the experts as a whole don’t predict the economy any better than random chance.” username=“get12min”]
[bctt tweet=“Whether our economy booms or busts is determined by the earning and spending cycles of people as they age and raise families - and the effect of this Spending Wave on the economy is reliably predictable.” username=“get12min”]
Our Critical ReviewHarry S. Dent, Jr.’s masterpiece is unique both for the precise predictions and for the simple model upon which those prognoses depend. Written in the early 90s, it alleges a theory concerning the big family of "trend" books written by vocabulary geniuses of Alvin Tofﬂer and John Naisbitt.
Their work foresaw the digital era of super dynamic markets, which is predicted that it will last for decades.