Hey Buddy, Wanna Buy Something?

I so often discuss the level at which Americans consume their goods and services that you might say it appears to be a fixation.  While not that, it has been a fixture of our nation’s economic health for quite some time.  Some hypothesize the aging of the Baby Boomers has been a driving force as, over the years, they gradually earned more and spent it.  Strong evidence supports this conclusion.  Since the early 1980s when this cohort started moving into a period of maturing family formation and higher wages, spending for goods and services, as well as homes, increased at a faster pace than GDP via the use of ever increasing amounts of debt.  By 2006, spending reached its apogee, accounting for 76% of GDP, the highest level recorded since records began being compiled in 1947.  But demographics also demonstrates a diminution in desire to buy stuff as we age past a certain point, one which the Boomers are now rapidly approaching.  Will we possibly reach a point where they are disinclined to buy some things, or even anything?  Recent retail sales data has been disappointingly low, even negative.  How will we grow without them?