Here is the abstract from a 2004 paper that I missed but am reading now. Emphasis, of course, mine

A so-called “asset market meltdown hypothesis” predicts that baby boomers’ large savings will drive asset market booms that  will eventually collapse because of the boomers’ large retirement dissavings. As good news to baby boomers, our analysis shows that this meltdown hypothesis is fundamentally flawed; and baby-boom-driven asset market booms may not necessarily collapse. However, bad news is that, in the case where  meltdowns are about to happen, forward-looking baby boomers’ attempts to escape them will be futile and may lead the economy into a “liquidity trap”.

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