NEW YORK, July 27 (Reuters) – Americans are bombarding
their financial advisers with questions about about what to do
if the U.S. government defaults on its debt. Call volumes to
major wealth managers have risen – and a lot of calls are about
whether they will get badly hurt by the events in Washington.
Concerns seem to be escalating as the August 2 deadline
looms for the U.S. government to extend its debt ceiling or
face the prospect of being unable to pay its bills.
Why pay attention to what the young want to buy? According to a new data analysis on spending patterns from Milo.com, the demographic group known as Gen Y (born between 1977 and 1994) will outspend Baby Boomers by 2017. Right now, they account for 25 percent of the population and plunk down $200 million a year.