We all know the type of person who came of age in the Great Depression. They are the grandmothers and grandfathers who can\u2019t use a tea bag too many times, yet are enjoying comfortable retirements in warm climates. And we know what the children of the 1950s are all about. They are the optimistic boomers who embodied an age of continual upward mobility and possibility. They have often spent more than they earned, because for them it has been a truism that times can only get better. It\u2019s no accident that the psychology of entire generations is shaped by the milieu in which they grew up; economic research tells us that our lifelong behaviors are determined in large part by the seismic events\u2013good or bad\u2013of our youth. So, given that we have just experienced the worst economic period in 70 years, it\u2019s no surprise that people have begun to wonder what sort of consumers, investors, and citizens will be bred by the Great Recession. Will there be, in effect, a \u201cGeneration Recession\u201d of young people whose behaviors will be permanently shaped by the downturn?<\/span><\/p><\/blockquote>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"From CNN.com. Are you seeing any signs of this? Or do you see signs that the Recession Generation plans on a return to usual? We all know the type of person who came of age in the Great Depression. They are the grandmothers and grandfathers who can\u2019t use a tea bag too many times, yet […]<\/p>\n","protected":false},"author":197,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6506","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\n
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