By the way, if you want to read some really cool and prescient calls, go back and read the posts on this blog from 2008

I was just looking through some of the posts put up on this blog on 2008 and, BOY, did we get things right. Amazing.

Check it out.

Fun read. Go here.

And leave you comments here.

Peak Prosperity — Neil Howe: The Fourth Turning Has Arrived

Neil Howe of Strauss and Howe thinks that the Fourth Turning started in 2008 with the global financial crisis and the election of President Obama.

He is completely off his rocker about the economics of it though. Sociologists should stick with sociology and not do pop economics.

We cannot possibly afford the government we have promised ourselves. And, that will be a painful process of deleveraging, and it is not just deleveraging the explicit debt that we have already actually formally borrowed, it is all the implicit debt. And, I think we will deal with it, because we have no other choice.

I don't disagree with this analysis factually, however. Even though it doesn't have to happen, as a proper understanding of economics shows, the likelihood of it coming to pass is high due to ignorance, vested interests, and systemic hysteresis due to persistence of failed ideology and institutional arrangements. Neil Howe is unknowingly trapped in it himself.

Peak Prosperity
Neil Howe: The Fourth Turning Has Arrived
Interview with Neil Howe
(h/t Zero Hedge)