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.
According to recent surveys, Millennials, who are now aged 23-34 (I have three of them) are suspicious of government, have a strong anti-business bias, are opposed to new regulation, are highly conscious of environmental issues, and give the president his highest marks. They are also overwhelmingly in favor of same sex marriage, even in the red states.
They also happen to care the least about health care, and put a high value on ethics. We also have learned that they don’t bother to vote in midterm elections. This is important because the Millennium Generation surpassed in size the 80 million strong baby boomer generation last year.
No wonder the last election focused so much energy on online campaigning and social media. Is the outcome of future elections to be determined by clicks and bandwidth? The data effectively means that the population of liberals is growing, while that for conservatives is shrinking. Politician planners and makers of campaign tchotchke take note.