Oh, lovely. No, that's not it. Asset-based inflation is very much the better answer because that's how exponential things play out. Low interest rates stop (mil

Oh, lovely. No, that's not it. Asset-based inflation is very much the better answer because that's how exponential things play out. Low interest rates stop (mild) inflation from bleeding off asset bubbles, so people do that because there's no risk. To the extent that Baby Boomers foemented low interest rates and low inflation ( although that's arguable too - the 1980s were not exactly peak Boomer years - see the 1990s for that to really take shape ) you are correct, but it's really just collateral damage. When you make this much more money sitting on land for umpety years until its developed, that's the business culture you'll end up with. Throw in the effect of 401k plans dragging everybody into the stock market and you get an even fuller picture. A lot of Boomers are really boned. Like, poor. More than is commonly written about. ObDisclosure: I am a cusp baby between the Boomers and GenX, early '60s model.