“The size of the millennial generation is to blame for sky-high inflation, strategist says”
“See, what everyone is not including in the conversation is what really causes inflation, which is too many people with too much money chasing too few goods,” Bill Smead, chief investment officer at Smead Capital Management, told CNBC’s “Squawk Box Europe” on Thursday.
"Smead explained that in the U.S. there are an estimated 92 million millennials, primarily in the 27- to 42-year-old age bracket. “The last time we saw what we call ‘wolverine inflation’ — which is inflation that is hard for policymakers to stop — was when 75 million baby boomers had replaced 44 million silent generation people in the 1970s.”
The fellow says this lasts 10-12 years - the generation buying cars, homes, starting families, etc.
As a layman I continue to believe - it’s either smart increases in immigration - OR - 4-5% inflation is the new normal, period.