Thoughtful Money with Adam Taggart Neil Howe: We May Suffer A Collision of Financial, Social & Geo-Political Crises All At Once
Sep 3, 2024
Neil Howe, a prominent demographer and co-author of "The Fourth Turning," shares his insights on the current societal divides and the K-shaped recovery post-COVID. He discusses the growing discontent among millennials and Gen Z as they witness the wealth disparity with older generations. Howe warns of the potential for class and generational warfare, especially with divisive political rhetoric heating up. Drawing from history, he emphasizes the critical need for strong leadership and collective resilience amid looming crises.
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Fourth Turning Framework
- The 'Fourth Turning' describes generational cycles of societal change.
- These cycles involve shifts in social mood, civic constitutions, and infrastructure.
New Playbook Timing
- The 'new playbook' for societal change emerges late in a Fourth Turning, during the resolution phase.
- Government, typically small before a Fourth Turning, expands significantly during crises.
Public Spending Reallocation
- Howe's main concern is the reallocation of public spending from seniors to other priorities.
- This shift is necessary but difficult due to the current size of the public sector and existing commitments.
