I was just listening to the talk that Peter Zeihan u/GynaNumbaZero posted yesterday or so, and I had this sudden Epiphany. I hadn't really thought about any kind of relationship between the boomer demographic shift and the inflation situation, and then it struck me:
The boomers have a ton of money, so what better time to do this gigantic inflationary generational transfer of wealth then right when they are retiring. On one hand, the boomers are able to get massive amounts of money for their assets, ONE TIME, but on the other hand they just jacked the costs of living up probably 100%, permanently, once the dust settles,
This means that, instead of lobster dinners at an island resort and fancy wine on the beach, boomers will be relegated to bingo/bridge night like the depression generation.
As a boomer I've just gotta point out that while collectively boomers hold more wealth than millennials the disparity between the 1% and everyone else also applies to us, most boomers were not and are not eating lobster dinners, there are way more boomers in the 1% than millennials but a significant majority of boomers are struggling to keep their heads above the water just like with millenials, those boomers though of course don't get to publish msm articles about avocado toast to fan the flames of intergenerational fighting, boomers are the generation that seriously dropped the fucking ball but most of us are suffering the consequences as well, not eating lobster dinners
I hear you, and I don't mean to suggest that boomers were bad in any way (I knew they get a lot of heat), only that they are being robbed of their retirement by intentional inflation.
The boomers that invested heavily in the stock market will see their "wealth" diminished with the market as it drops. I never had anything to invest, so I'll be one of those boomers working late into life. It's that or live on the streets
I would add boomers staying at jobs through retirement as part of this. I'm seeing this with my parents. Move to big city, make big money, now can't afford to retire cause cost of living and insurance is to high so you plan on working till 70.
Now the current generation is having inflation problems, inflated house prices they can't afford, a rental market that destroyed the single home market, and a myriad of stupid social causes being pushed. Now the boomers aren't retiring making upward mobility harder....