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33 sats \ 4 replies \ @Undisciplined 2 Feb \ on: Baby-Boomers are Loaded. Why Are They Not Spending? (The Economist) econ
I think that last point is the key. Boomers are mostly planning on being retired for a long time, with little in the way of new earnings and lots in the way of looming medical expenses.
They will pass nothing down to their kids, it will all be spent on them.
They will be the first generation ever to both inherit from their parents and leave nothing for their kids.
And peeps don't think there are grounds for generational anger here?!
Unbelievable, really.
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Honestly, I would be fine with it, if not for their prevailing smugness and sense of entitlement.
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Pun def intended!
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But that is not the case in China where the mixed economy regulates rentseeking cartels and enables ever higher productivity- the outlook is bright for Chinese people as the US empire sinks into the filth created by Neoliberals and Libertarians whose inane free market dogma empowered the rentseeking cartels to own your governments.
Will Libertarians and their Neoliberal predecessors be held responsible for the decline of western civilisation?
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