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Titus Pullo's avatar

I am around your age Cerno and this is an accurate description of the Boomer experience financially. In addition I work in an industry where I talk to boomers on a daily basis and get access to their financial data. The idea that the majority of Boomers are out there sitting on two paid for houses that they purchased for some twigs and going on cruises is also a lie. The vast majority of them are living on fixed incomes of around $1500-1800 per month and paying rent. Moreover the effective inflation rate for a retired boomer is far far higher than the CPI because the basket of goods they purchase from does not include any technology products which are the only part of the basket, along with Hedonic adjustments. keeping the inflation numbers from reaching 70s levels. Retired boomers are getting squeezed to death by inflation and unlike working people have ZERO options to work their way out of it. I estimate the the effective costs of retiring for someone on a fixed income over the past decade have nearly doubled after Cola adjustments which are based on the broader CPI.

Max's avatar

Boomers also get blamed unfairly for a lot of stuff that started or took place in the 60's-70's for which Boomers were (a) too young to be in charge and (b) if anything harmed by. Such as: changes to US immigration laws and policies, the US going off the gold standard, the terrible inflation and unemployment from mid 70's into mid 80's, inner city decay (exacerbated by "urban renewal"), explosion of welfare state programs, the off-shoring of US manufacturing, "affirmative action", no-fault divorce. The rage is misdirected, it really should be aimed at liberal and 'progressive' policies.

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