Millennials Will Save Us From A Recession

You're going to hear me start talking quite a bit more about the demographic tidal wave that's been building with what social scientists call the Millennial Generation.  If you've been reading me at all this year then you know that Generational Change is one of the key themes I factor into my investment portfolios.  Tony Dwyer, the chief market strategist over at Canaccord Genuity, seems to be in my camp on what he believes millennials are going to bring to the table.   I haven't read Tony enough to understand whether or not he thinks their coming of age is as big a long-term positive development as I think it's going to be but I do know he thinks they have the ability to help stave off a recession.  According to Tony:

"{Millennials} are turning 30. They’ve had 10 years to be in the workforce. They’ve had 10 years to build a credit score. They’ve had 10 years to meet a significant other and get prepared to build a household. We’re seeing this behavior show up in this millennial demographic which should help buffer the economy from a more significant slowdown.’

I think the demographic shift these young kids are bringing about is more significant than what happened when us baby-boomers entered adulthood.  We'll talk about this more in the future.  These kids and the generation right behind them are on the cusp of something that in my opinion hasn't been seen before.  They are smarter, better educated, in aggregate more serious about things then we were at their age and for the most part better informed.  They are also more tolerant then preceding generations.  

By-the-way Dwyer has a market target for next year that closely mirrors what I think we can see next year as well.  You can read up on that and his take on millennials at the link below.

Link:  Market Watch.com:  "No Recession?  Thanks Millennials!"