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I for one would love to see an infographic or a walk through of how retiring boomers are either raising rates or keeping them high. I’ve heard the theory and it sounds good, but the mechanics of such things really matter.
The main idea I’ve heard is:
- working people create supply and demand
- retired people create only demand
…therefore an increase in the ratio of retired:working people will increase demand:supply which puts upward pressure on inflation and rates.
My view fwiw is that while it sounds compelling on the surface, in reality there are too many moving parts for this kind of analysis to be useful. But that’s the theory as far as I know.
Edit – forgot the infographic:
main idea(s)
• working people create supply and demand
• retired people create only demandthe “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
https://www.unep.org/news-and-stories/story/were-gobbling-earths-resources-unsustainable-rate
<div id=”accel-snackbar” style=”left: 50%; transform: translate(-50%, 0px); top: 50px;”></div>main idea(s)
• working people create supply and demand
• retired people create only demandthe “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
https://www.unep.org/news-and-stories/story/were-gobbling-earths-resources-unsustainable-rate
<div id=”accel-snackbar” style=”left: 50%; transform: translate(-50%, 0px); top: 50px;”></div>
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