The Kondratiev Wave was an economic cycle developed by Soviet economist Nikolai Kondratiev. Kondratiev identified three phases in the cycle: expansion, stagnation and recession. Modern interpretations divide the wave into four periods, with a turning point or collapse between the first and second phases.
"We know that to be true from history . . . to the furthest back in monetary history, and you can see the Kondratiev Wave, and it stays consistent. The Kondratiev Wave is where you get green shoots. There's the four seasons of the economy. There's spring, summer, fall and winter," Glenn explained.
The economic cycles can also be tied to generational traits that develop from economic and societal conditions.
"People who were born in 1901 to 1924, they're the hero generation, and that's the generation that was coming of age in the Depression and fought World War II. The greatest American generation," Glenn said.
According to the Kondratiev Wave, these are the generations since the turn of the last century:
Born 1901 to 1924: Hero Generation
Born 1924 to 1942: Artist Generation
Born 1943 to 1960: Prophet Generation
Born 1961 to 1981: Nomad Generation
The nomad generation gave birth to what will be the next hero generation, born from 1982 to 2003.
"They come of age when winter is here because those are the ones that take us through winter and then plant the new seeds for spring," Glenn said.
Their success, though, will depend upon what we teach them. And it has nothing to do with politics, but how we train them to be the next generation of great Americans, with character, principles and values.
"If I knew I was going to send my kid to fight the Nazis, to fight communism, to fight in the Great Depression, to hold everything together, to be optimistic through all of that, and to be the one that you put all of the chips on, what would I teach my child?" Glenn asked.
Glenn made a list of essentials to equip our children for the coming storm:
• Right vs. Wrong
• Trust in God
Beyond that, teach them about Martin Luther King, Jr., Abraham Lincoln and other men of peace.
"They have to be taught how to make peace and when it's right to make peace. Lincoln, after the Civil War, he didn't say, 'Get 'em.' He said, 'With malice toward none and charity toward all, let's heal this land.'" Glenn said.
Then Glenn mentioned one last thing he would teach his kids: how to listen and compromise.
"I think it's going to take a very hard, long battle with our kids," he said. "And if it doesn't teach one of those things, you should run from it. Because that's the only way they'll hold on to it."
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