Is 10 Years of Deflation Possible?

Yes, ask the Japanese—they’ve been experiencing deflation for two decades. But I don’t think we’ll see that here because Americans are consumers. We like to earn, buy, and spend. It’s in our national DNA.

We also don’t have the demographic issues Japan is facing. Its population is shrinking.

We have another 79 million “millennials” (those born after 1980) working their way through the demographic cycle. These young people will not be content with sitting on their rears, bemoaning the general bad state of affairs in America.

This generational group is smart, driven, and highly creative. I’m excited to see what they end up creating in the way of new industries and growth opportunities for the U.S. economy.