I have been banging the table for years now about the importance of demographic trends for the economy, the financial markets, and the housing market.
Well, politics is no different.
Millennials were born during 1982-1998, and are now aged 18-34 (I have three of them).
According to recent surveys, they are suspicious of government, have a strong anti-business bias, are opposed to new regulation, are highly conscious of environmental issues, and universally believe in global warming.
They are also overwhelmingly pro-choice, support same sex marriage, and back the legalization of marijuana, even in red states.
Millennials also happen to care the least about health care, apparently believing they can live forever, and are a major headache for Obamacare.
They put a high value on ethics.
We also have learned that they don't bother to vote in midterm elections, but can have an outsized influence on presidential elections.
?This is important because the Millennium Generation surpassed in size the 80 million strong baby boomer generation, exceeding 85 million in total.
No wonder this election focused so much energy on online campaigning and social media. Is the outcome of future elections to be determined by clicks and bandwidth? You betcha!
The data effectively means that the population of liberals is growing, while that for conservatives is shrinking, confirming the long term march of history.
This is why sedition, slavery, Indian removals, child labor, horizontal monopolies, poisonous food, and harmful drugs are illegal, and women and eighteen year olds have the right to vote.
Politician planners and makers of campaign tchotchke take note.
