Tech and media ignore huge market of elders

[Leap1]

@btresist

Actually if the claim is that about half of US consumer spending comes from the 50+ age demographic, Goofyhoofy is mostly right if we limit the discussion to adults (as I think is appropriate) and consider the issue less superficially than you are.

Honestly Goofy was so confused he gave up.

Baby Boomers are 50% consumer spending? Total BULL!

The someone was me. I sourced it to VISA, who probably knows something about consumer spending. December 17, 2018 – While millennials have dominated headlines in recent years, baby boomers (those born between 1946 and 1964) have continued to dominate consumer spending in the U.S. In fact, consumers over 50 now account for more than half of all U.S. spending. They are also responsible for more spending growth over the past decade than any other generation, including the coveted millennials. …

@btresist you quoted in that thread

“…Fifty-six cents of every dollar spent in the United States in 2018 came from someone 50 or older, the study finds. In 2050, that number is projected to be 61 cents of every dollar …” AARP Study: Americans 50 and Older are Growing Economic Powerhouse.

In 2050 the youngest Baby Boomer born in 1964 will be 86 years old. Why did you quote that at all?

This is how bad your argument is.

Half of boomers and late Gen Xers who took early retirement during the first...

Half of the boomers and late Gen Xers who took early retirement during the first Covid wave have fallen into poverty

Remember we the Me Generation were suckered into supply-side economics. Half the retirees do not have a pot to…in…The next 40% do not really have enough to retire. That is why saying the Boomers are such a marvelous spending group is total bull. Those with assets can not spend them down in their lifetimes in many cases.