I don't think you understand those terms yourself. They are utterly irrelevant to the situation.
Boomers are an equal share of US population so you again made a simple factual error.
American Economics Thread
- Thread starter Bernard
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Boomers are an equal share of US population so you again made a simple factual error.
D
Deleted member 15949
Guest
Except I haven't. At the time Boomers were in their 20s and 30s, the 20-30 cohort was a larger portion of the population than the current 20-30 cohort now. Your just trying to so desperately grasp onto literally any news item or time-series that helps show that the US economy is doing poorly even though the US economy is doing fantastically, outgrowing China, booming labor market, wage growth, capital formation/fiscal expansion, minimal inflation, growing population & immigrants and tons of innovation
Nope, you are engaged in wishful thinking without factual evidence. You've offered zero proof of any of your statements nor do you understand your own arguments seeing as how you tried to drag long tail distribution in here when it's irrelevant to a simple numerical comparison. None of that changes the reality that US wealth is tied up in the old right now.
But look at the unemployment rate which is 5.4%
That is a 7 year high.
The current high wage growth is only happening because a lot of people have dropped out of the workforce.
Possibly because they are vulnerable or unable to be vaccinated, so can't take the risk of being infected.
D
Deleted member 15949
Guest
True but 5.4% is still low and it's mostly b/c of readjustment effects. There are now more job openings than unemployed people
No, wage levels are at their highest and growing at their fastest
No one cares about COVID so it doesn't matter. COVID simply isn't a shock on the economy in either direction.
D
Deleted member 15949
Guest
yeah, my point was your comparison was stupid. If millennials and boomers are equal now, that means boomers used to outnumber millennials because cohort population can only monotonically decrease. Wealth is always highly concentrated, income much less so. Millennial prospects are great
manqiangrexue
Brigadier
Why would Chinese people be mad? Americans can spend their money however they like. I can agree in the general sense that the US economy is strong and China cannot sit and watch waiting for it to collapse but China's economy grows faster and we are now even more than before on track to overtake the US. China relies on our own strength, not the weakness of others.
Millennials and boomers are only equal in population proportion. Millennials have 1/10 the wealth of boomers.
In terms of income millennials are underperforming the boomers at equivalent age as well:
The inflation adjusted wage growth has also been flat since 2006, from the same article.