X @Nick Szabo

RT Nick Szabo (@NickSzabo4)The point seems to have gone way over your head so let me elaborate: the Boomers were competing far less against global labor. Their real wages, in terms of their wages relative to housing and other assets, as well as relative to health care and education costs, were much higher at the same ages. They had much more to save. And what's more, they've had a lifetime to accumulate more savings and accumulate the cash flows from those savings.As a percentage of income, surveys show Gen ...