New Book Shines Light on Cause of U.S. Crises

Boomer Destiny Reveals Why:

- Cause of current U.S. economic crisis goes well beyond sub-prime debacle

- Road to recovery will be long, slow requiring an adjustment in expectations, attitudes and behaviors

CHICAGO, May 4 /PRNewswire/ — A new book released today reveals that the current economic crisis in the U.S. is part of a recurring cycle in American history that was not only predictable but could have been greatly mitigated if corrective action had been taken more than a decade ago.

BOOMER DESTINY: Leading the U.S. through the Worst Crisis since the Great Depression (Praeger Publishers 2009) is the latest in a series of illuminating books by Tom Osenton that carefully dissect the anatomy of a maturing U.S. economy.

“The current American crisis looks remarkably similar to the last American crisis 80 years ago,” says Osenton, adjunct professor of marketing at the University of New Hampshire. “A decade or more of viral greed and excess, coupled with a credit crisis, a Wall Street crash, an attack on the U.S. mainland, and a painful and costly war overseas. The U.S. prevailed in 1945 and it will prevail again, but it won’t be without sacrifice and a complete re-examination of the country’s objectives and priorities.”

According to Osenton, it was due to the leadership of FDR and his Missionary generation directing Eisenhower’s Lost generation and JFK’s GI generation that enabled the U.S. to overcome the last American crisis which lasted 16 years. The responsibility for leading the U.S. through the current crisis falls to Barack Obama and his Boomer generation which must reverse course from its narcissistic ways and lead the Gen X and Millennial generations through this crisis.

Osenton’s research focuses on the rate of growth of S & P 500 companies since World War II. His last book – The Death of Demand (Financial Times Prentice Hall 2004) – demonstrated that the rate of revenue growth from post-WWII corporations has been in decline since the mid-1970s.

Other highlights from Boomer Destiny:

• Boomers entered the world during an expansion and will leave world after a crisis – just as FDR’s Missionary generation did, as Lincoln’s Transcendental did and as Ben Franklin’s Awakening did
• Boomers will be the first generation in American history whose children will not realize an increase in standard of living compared to their parents
• Boomers must now sacrifice in order to mitigate the economic burdens they will leave to their children and grandchildren

http://www.boomerdestiny.com/

SOURCE Tom Osenton