• working people create supply and demand
• retired people create only demand
the “main idea” should also include the fact that the boomer generation has in general saved up a ‘yuge’ nest egg (According to the Federal Reserve data total net worth for boomers is $78.55 trillion)
just saying the boomer generation can’t take it with when they eventually kick the bucket, so they are opening down their nest egg,…
I’ve never taken a formal economics class BUT something the public at large needs to consider is baby boomers hold 51% of all wealth in the United States. [Source: Federal Reserve]
given the facts it should not take a rocket science degree to grasp the simple idea that the ‘yuge’ segment of wealthy of the boomer population, is the root cause of inflation
the inconvenient truth is American boomer because of their cumulative wealth and post WWII consumer mindset,… are “leading the way” toward a troubling future
PS the reason I’ve including this specific info-graphic is because it should make people (especially economists) realize that raw commodities (e.g. fossil fuels, water, various minded metals, lumber, etc.) to produce consumer goods have been used up since the post WWII consumer boom,… so the remaining scarce supply of raw commodities in turn pushes up the price for finished consumer products
