This puts a lot of my points below quite eloquently:

Boomers V. Millennials: Debt and Financial Stability Gap Getting Wider.

This supports what I wrote in my little essay below. It’s even worse for Gen Z, of course, because they won’t even have the opportunities that the Millennials did while the cost of living for them will be absurdly high.

Hey, at least my generation — Gen X — made it onto the chart. We’re usually completely ignored these days for some reason.

Why are older people arguing that the economy is booming?

Because Boomers bounced into the most bountiful boomtime in a bunch of years and thought their flourishing was because they were just so special, so amazing — but it was just an historical accident. Now they have that legacy of good fortune going for them and they believe that people under 45 aren’t prospering because they just don’t work hard enough and eat too much avocado toast. The reality is that the material conditions for younger cohorts have worsened enormously. Here’s why Boomers had and still retain huge advantages:

1) Boomers benefited from the greatest stock market long-term rally in all of history. If you put $10,000 in the S&P 500 in 1969 (the year the first Boomers turned 25) and left it until today, you’d have $215,300 right now. Yes, that is inflation-adjusted and includes dividend re-investment. If you bought a house for the average price in 1969 for $26,000, in many places it’d be worth around $1 million+ now (that is not inflation-adjusted because housing is a bit different, but if it were that’d be $218,052).

2) Boomers had far more job security; many worked for the same place for 30+ years.

3) Many Boomers had (and have) generous pensions and were union members while working.

4) Social Security was assured for them.

5) Cars, health care and education were far cheaper when they were consuming most of those items the most. For most Boomers, higher education was free or nearly so.

Most people are fairly narcissistic. That’s obvious if you’ve ever interacted with any humans. Boomers, though, are extremely, ridiculously narcissistic due to the circumstances of their blessed lives. The Boomer gen simply cannot understand that someone making $12 an hour at three undependable hustles simply cannot fucking afford the now-million dollar house that Boomers bought back in 1965 with pocket change and a handshake.

The world might not be better when the Boomers all die off, but it won’t be worse, that’s for sure.

Don’t hear many Earl Hooker covers, and that’s a damn good one. I have to be honest — I’m a bit in love with the woman killin’ it on the stand-up bass. What a great personality.