Put away the rose-colored glasses: A not-so-rosy future for Baby Boomers

In an article in the American Chronicle, writer Michael Masterson says Baby Boomer loss of earning power and decreasing nest eggs will drive the economy further into a recession (although he doesn’t use the word), and he has many dire predictions for the next decade or so, including the slow death of the wristwatch (?). He says boomer retirements fund values and housing values are declining, and soon we’ll be poorer than we want to be. Back to McDonald’s at the end of our careers, just like at the beginning?

I’d rather think, “Plan for the worst but expect the best.” Masterson says we should be putting our time and efforts into developing businesses, like Internet-related businesses. Read his prediction and let me know what you think.