Columnist: Analysts argue that as baby boomers reach the age of 50, they will begin seriously planning for retirement. This will lead them to switch from being primarily consumers to being savers. Thus, these analysts conclude, more money will flow into the stock market, resulting in continued gains in stock prices. Analysts would stand to gain if this were true, but they are being overly optimistic. As consumption decreases
will corporate earnings; ttherefore high stock prices will not be justified, and thus boomers' money will more likely flow into investments other than stocks.
attempts to undermine the analysts' argument by drawing an alternative conclusion from the analysts' premises