Life Spans

If one dated the Great Depression from 1932 and the Current Crisis as defining itself in 2008 the life span of the American Economy was 76 years which corresponds nicely with the average life span of a healthy male.
The American Economy: Infantile and helpless in the thirties, tumultuous in the fourties, industrious in the fifties, mid-life crisis in the 60s, and then on through the 70s and 80s as baby boomers were raised to the dulcet sounds of Michael Jackson into the peaceful autumn of the 90s: with its relative peace and distracting, comical, sex scandals. This all brought us again to a new tumultuous decade with its own set of problems.
That supposed life span of 76 years means there is a transfer of assets and, more importantly, liabilities to a new generation. This generation now can accept the former's legacy or see fit to default on our parents monumental debts and begin anew.