People over 55 own 73% of the US, heavily outweighing billionaires. Boomers alone outweigh billionaires assets by nearly 10x. Any time you see BlackRock, Vanguard, etc as major shareholders of a company, that means it’s mostly boomers’ 401ks and pension funds. Billionaires themselves are mostly old so really they’re just the top of the iceberg of a much larger problem.
Gen X might be the last generation to retire in the US, for millennials it’s starting to look unlikely. There just aren’t enough people to exploit anymore. Ideally everyone should have 3 kids, but as an interim solution you can start importing workers from 3rd world countries.
Other western countries may not have it as bad with the imbalance, but most are growing worse over time.
People over 55 own 73% of the US, heavily outweighing billionaires. Boomers alone outweigh billionaires assets by nearly 10x. Any time you see BlackRock, Vanguard, etc as major shareholders of a company, that means it’s mostly boomers’ 401ks and pension funds. Billionaires themselves are mostly old so really they’re just the top of the iceberg of a much larger problem.
Gen X might be the last generation to retire in the US, for millennials it’s starting to look unlikely. There just aren’t enough people to exploit anymore. Ideally everyone should have 3 kids, but as an interim solution you can start importing workers from 3rd world countries.
Other western countries may not have it as bad with the imbalance, but most are growing worse over time.