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Fed will continue printing until Boomers die off... there is a lot of wealth locked up in 401k that needs to be disbursed. This block votes and they vote often

Fed will continue printing until Boomers die off... there is a lot of wealth locked up in 401k that needs to be disbursed. This block votes and they vote often and if their little pennies are threatened, they will vote people out. Edit: If you think these market rises are anything other than a way for the rich to rinse their money before the market bombs, I have a bridge to sell you, it's very pretty.

pc86 6y ago
Imagine referring to an entire generations' life savings as "their little pennies."
- toomuchtodo 6y ago
  Only half of those over 55 have any retirement savings [1], the other half have no retirement pennies to speak of. While not great for online discussion, I can understand where the sentiment comes (the evidence is clear older generations strip mined the country economically [and continue to do so], pulled the ladder up behind them, and then are shocked when younger citizens are resentful). [1] https://www.gao.gov/assets/680/670153.pdf https://www.gao.gov/assets/680/670153.pdf
  - subsubzero 6y ago
    I don't know, maybe I am out of touch but almost all boomers I know are extremely well off, they started as scientists or other typical professional occupations and now own assets in the millions, basically housing in California and other areas. Prop 13 has helped them(their prop. taxes do not go up) as well as dirt cheap college costs when they went to college. Housing was rather cheap as well considering salaries, I remember my Dad looking at houses in Palo Alto in the mid 90's and they were in the 300's(they are now 3-4M). I feel like gen X and Millennials are really getting the short end of the stick when it comes to alot of essential life costs. Sure economists say inflation is not happening but I think the formula to look into inflation is incorrect as Housing/Medical/College has skyrocketed where a gallon of milk and bread has not jumped in cost.
    - bpt3 6y ago
      The boomers you know (white collar professionals in the Bay Area apparently) are not a representative sample of the entire population. The group you mentioned has done well in every generation in modern times.
      - subsubzero 6y ago
        Some are, some are not. They are all friends parents and some family, a few others are blue collar business owners or workers. One striking example is a friend who's Dad(in the construction business) owns multiple properties and his son(late 30's) rents. They are doing the exact same job and it shows how skewed things are based on 30-40 years ago(his Dad owned a house at his age).
        bpt3 6y ago
        A "blue collar" business owner with multiple properties isn't really a great example either. I'm not arguing against your thesis that the boomer generation overall basically extracted resources from future generations (and their parents who lived through the depression and at least 1 world war), I'm just saying that there are lots of individual boomers who didn't have lucrative careers or happen to own property in the right places, and you don't seem to know any of those people (which is fine of course).
    - neutronicus 6y ago
      I expect housing to get a lot cheaper when the boomers actually need to wring some liquidity out of the real estate they've been holding (hoarding) to pay for elder care. Even if they do something like barter free housing for live-in care instead of selling, you expect a big effect on the rental market and a corresponding effect on the value of investment properties.
      - toomuchtodo 6y ago
        I think this’ll be governed by how quickly their health declines, how easy it is to borrow against their equity (and the bank liquidating the property after they’ve passed), and how aggressive local jurisdictions are with clawing at assets to pay for long term care (Medicaid, five year look back). The can keeps getting kicked.
  - pc86 6y ago
    Edit: Disregard the below because I can't do math. But leaving it for context given the response. Boomers by definition are going to be in their late 70's at the absolute youngest. You're talking about their children, who have comparatively little (and is coincidentally why a lot of people hate the Boomer generation).
    - toomuchtodo 6y ago
      Baby boomers were born between 1946 and 1964. They're currently between 56-76 years old (roughly 76 million in U.S.). Anything older than that is the “silent generation“ (born 1928 to 1945). https://en.wikipedia.org/wiki/Baby_boomers https://en.wikipedia.org/wiki/Baby_boomers https://en.wikipedia.org/wiki/Silent_Generation https://en.wikipedia.org/wiki/Silent_Generation
      - pc86 6y ago
        sigh Apparently date math is hard. You're 100% right.
        toomuchtodo 6y ago
        Please accept my reply as it was intended: informative, not snarky or combative.
- WrtCdEvrydy 6y ago
  When the 1% own the majority of the market and use it to control the other 99% into making them richer, what would you call that?

pc86 6y ago

Imagine referring to an entire generations' life savings as "their little pennies."

toomuchtodo 6y ago
Only half of those over 55 have any retirement savings [1], the other half have no retirement pennies to speak of. While not great for online discussion, I can understand where the sentiment comes (the evidence is clear older generations strip mined the country economically [and continue to do so], pulled the ladder up behind them, and then are shocked when younger citizens are resentful). [1] https://www.gao.gov/assets/680/670153.pdf https://www.gao.gov/assets/680/670153.pdf
- subsubzero 6y ago
  I don't know, maybe I am out of touch but almost all boomers I know are extremely well off, they started as scientists or other typical professional occupations and now own assets in the millions, basically housing in California and other areas. Prop 13 has helped them(their prop. taxes do not go up) as well as dirt cheap college costs when they went to college. Housing was rather cheap as well considering salaries, I remember my Dad looking at houses in Palo Alto in the mid 90's and they were in the 300's(they are now 3-4M). I feel like gen X and Millennials are really getting the short end of the stick when it comes to alot of essential life costs. Sure economists say inflation is not happening but I think the formula to look into inflation is incorrect as Housing/Medical/College has skyrocketed where a gallon of milk and bread has not jumped in cost.
  - bpt3 6y ago
    The boomers you know (white collar professionals in the Bay Area apparently) are not a representative sample of the entire population. The group you mentioned has done well in every generation in modern times.
    - subsubzero 6y ago
      Some are, some are not. They are all friends parents and some family, a few others are blue collar business owners or workers. One striking example is a friend who's Dad(in the construction business) owns multiple properties and his son(late 30's) rents. They are doing the exact same job and it shows how skewed things are based on 30-40 years ago(his Dad owned a house at his age).
      - bpt3 6y ago
        A "blue collar" business owner with multiple properties isn't really a great example either. I'm not arguing against your thesis that the boomer generation overall basically extracted resources from future generations (and their parents who lived through the depression and at least 1 world war), I'm just saying that there are lots of individual boomers who didn't have lucrative careers or happen to own property in the right places, and you don't seem to know any of those people (which is fine of course).
  - neutronicus 6y ago
    I expect housing to get a lot cheaper when the boomers actually need to wring some liquidity out of the real estate they've been holding (hoarding) to pay for elder care. Even if they do something like barter free housing for live-in care instead of selling, you expect a big effect on the rental market and a corresponding effect on the value of investment properties.
    - toomuchtodo 6y ago
      I think this’ll be governed by how quickly their health declines, how easy it is to borrow against their equity (and the bank liquidating the property after they’ve passed), and how aggressive local jurisdictions are with clawing at assets to pay for long term care (Medicaid, five year look back). The can keeps getting kicked.
- pc86 6y ago
  Edit: Disregard the below because I can't do math. But leaving it for context given the response. Boomers by definition are going to be in their late 70's at the absolute youngest. You're talking about their children, who have comparatively little (and is coincidentally why a lot of people hate the Boomer generation).
  - toomuchtodo 6y ago
    Baby boomers were born between 1946 and 1964. They're currently between 56-76 years old (roughly 76 million in U.S.). Anything older than that is the “silent generation“ (born 1928 to 1945). https://en.wikipedia.org/wiki/Baby_boomers https://en.wikipedia.org/wiki/Baby_boomers https://en.wikipedia.org/wiki/Silent_Generation https://en.wikipedia.org/wiki/Silent_Generation
    - pc86 6y ago
      sigh Apparently date math is hard. You're 100% right.
      - toomuchtodo 6y ago
        Please accept my reply as it was intended: informative, not snarky or combative.
WrtCdEvrydy 6y ago
When the 1% own the majority of the market and use it to control the other 99% into making them richer, what would you call that?