31/5/19: Generational Gap in Self-reported Satisfaction with Life is at Whooping 28 percentage points

Commonly discussed in the media and amongst economists, generational gap in quality of life and socio-economic environments is also evident in the self-reported satisfaction with life surveys. Here is the recent data from Gallup (link: https://news.gallup.com/poll/246326/six-seven-americans-satisfied-personal-lives.aspx) released back in February 2019:

In 2017, 57% of Americans of all ages were very satisfied and 30% somewhat satisfied with their lives. This remained relatively stable in 2019 poll (56% and 30%, respectively). However, over the same period of time percentage of those in the age group of 18-29 year old reporting their status as "very satisfied" with their lives dropped from 56% to 40%, and for the group of those aged 30-49 years, the corresponding decline was from 58% to 55%. In 2007 through 2011, generational gap was at a maximum point 8 percentage points wide. This rose to 16 percentage points in 2013, before blowing up to a massive 28 percentage point by 2019.

18/6/16: Retail At Google Conference: June 2016

My slides from this week's presentation at Google Retail conference:

18/1/16: Forget Conventional Geopolitics, Demographics is the New Global Conflict Ground Zero

While analysts are worried about geopolitical tensions relating to *hot*, *cold* and *frozen* conflicts of traditional nature, the real Global Conflict is unfolding, slowly-paced, in the realm of demographics.

Here are two key themes underlying it:

Firstly, the ongoing widening of the generational gap, highlighted in my recent talks including here: http://trueeconomics.blogspot.ie/2015/07/29715-retailgoogle-key-trends-on.html. The Generational gap that can be described as the difference between economic power and aspirations of two distinct generations: the post-millenials and baby-boomers.

To see this we can take two examples of views from the baby-boom generation:

• The view of Jeremy Paxman: http://www.dailymail.co.uk/news/article-2055497/JEREMY-PAXMAN-Baby-Boomers-selfish-generation-history.html
• And the view of Edwina Currie: http://www.telegraph.co.uk/finance/personalfinance/pensions/12102364/Hey-youngsters-No-pension-No-home-No-wonder.-Look-at-you.html

The second manifestation is that of the disappearing middle classes, best highlighted by the following series of links covering Pew Research analysis of the U.S. data:

• The shrinking of the U.S. middle class: http://www.pewresearch.org/fact-tank/2015/12/14/americas-middle-class-is-shrinking-so-whos-leaving-it/
• And income impact of the above: http://www.pewsocialtrends.org/2015/12/09/4-middle-class-incomes-fall-further-behind-upper-tier-incomes/
• Including changing nature of demand: http://www.pewresearch.org/fact-tank/2015/12/30/its-no-longer-a-leave-it-to-beaver-world-for-american-families-but-it-wasnt-back-then-either/?utm_content=buffere1c76&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
• As well as changing social preferences: http://www.zerohedge.com/news/2015-12-24/faltering-faith-losing-hope-rising-charity-15-striking-findings-2015
• Leading to the growing gap between baby-boomers and the millennials:  http://www.bloombergview.com/interactives/2015-millennials/

All of the above concluding with the twin trend of vanishing core generational driver for the global economy: http://www.pewsocialtrends.org/2015/12/09/the-american-middle-class-is-losing-ground/

If you still think conventional weapons and geopolitical power plays are the biggest disruptors of status quo ante, think again.