The economic collapse around 2008 has had far-reaching effects on our society and others.
Students who were entering the job market at age 23 have not seen a vibrant economy at age 32.
And the jobs that are out there lack benefits and security. It’s a nasty market out there.
But the disruption in 2008 went beyond the economic collapse. Demographics changed. Baby boomers who spawned the greatest economic expansion is Western history started to retire and spend less. The engine of economic growth couldn’t be replaced by the generation that followed.
All this talk above comes about due to a recent quote from Ottawa Race Weekend director John Halvorsen about decreasing participation in this year’s event.
“Is it demographics, age, options for other events, other activities like triathlon, cycling, obstacle races? Is that our hotel pricing factors into that? Probably a little bit of all of them.”
How many times have we heard those factors coming into play in our society.
The 2008 changed a lot. Those effects continue today.
Video above: Warren Buffett on the far-reaching effects of 2008. To read more on Buffett on The Bulldog, click here.
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