Spending on services is the story. With the tariffs goods are going up in price. Spending on services should be dropping but I have not see data yet. The service sectors are 80% of the economy.
I have a friend who is an artist born in 1935. The amazing thing about 1935 is that the birth rate was at its lowest ever in the 1900s. When he wanted a job, there was very little competition. He could choose to do whatever he liked.
I was born in 1963, the highest birth rate of the Boomers. When I was a Junior in high school my second job was hard to get during the 1980 downturn. I could not get a dishwashing job. I got a pot scrub job. While we got jobs all along we got laid off as the laws changed and employment goals constantly shifted.
Most of you are older Boomers. Your experiences are more stable employment. That entirely disappeared by the 1990s for the generations coming after you.
Is it selfishness? Was the friend born in 1935 who did whatever selfish?
We had supply-side economics. We took one for the team.
It is 10 or 20% of Boomers that have the wealth. Most Boomers shut themselves out of wealth. If you want to call many of the Boomers a bit slow, I’d agree.