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Boomer endowments are going to have some unexpected influences in the economy. As that bulge of wealth is transferred, the younger generation inheriting it won't care too much whether they got the best possible price for the old homestead - they'll take the money and apply it elsewhere.
It may not be the USA, either. It was already being stated on retiree forums several years ago that Costa Rica was well played out - it wasn't a bargain for retirees and digital nomads any more. Maybe we'll see new destination spots crop up in parts of the world nobody is thinking of right now, like Albania or even Iran or Venezuela if the regimes there are overthrown. Nobody foresaw what Poland or the Czech Republic could be economically, back in 1988.
Seems like most of the boomer money is going to the long term care homes designed to suck you dry.
Experience with long term elderly care. It's basically an entire industry and legal system designed to divert boomers' estates away from their children and into corporations.
It's all a house of cards built on terrible lending standards and unsustainable low interest rates. We are way over-leverged as a society and on the foundations show a crack well all the valuations come tumbling down.
Experience with long term elderly care. It's basically an entire industry and legal system designed to divert boomers' estates away from their children and into corporations.
It is a poor system that we have for long term care but most elderly do not use it or much of it.
Many also have long term care insurance.. we do
It's all a house of cards built on terrible lending standards and unsustainable low interest rates. We are way over-leverged as a society and on the foundations show a crack well all the valuations come tumbling down.
Capitalism demands that part of the value of worker productivity be siphoned away as profit for the elite caste of Capitalists. As a result, the working class cannot afford to purchase its own production. As long as you have Capitalism, there aren't many solutions besides frequent economic crashes, exploiting cheap overseas/slave labor, and extensive borrowing.
Capitalism demands that part of the value of worker productivity be siphoned away as profit for the elite caste of Capitalists. As a result, the working class cannot afford to purchase its own production. As long as you have Capitalism, there aren't many solutions besides frequent economic crashes, exploiting cheap overseas/slave labor, and extensive borrowing.
Not completely true... The availability of large amounts of cheap credit to the poorest in the population helps drive consumption up and improve demand/cause inflation. Thus the rich have better support mechanisms for their assets to not see as much depreciation.
Productivity can drive increases in wages but can also drive increase in wealth transfers to the rich.
Another issue is population increases greater than resource growth and real gdp growth causes resources per capita and gdp or wages per capita to shrink or at least stagnate.
Finally on a global economy where labor is competing on a global scale you have multiple impacts of relative wages/productivity of other countries, local access to capital & resources, as well as current fluctuations.
Correct me if I'm wrong. But that area is moribund due to employment issues. The people I see moving today are not looking for employment. They are either working remotely or are wealthy.
The issue is that they think they want the rural lifestyle, but coal country southwest Virginia is so far outside of most people's "normal" that daily life there is hard to fathom.
It's not like being thirty minutes outside of Knoxville, TN, where you're still close to upper middle class shopping, a university medical center, major college sports, a reasonable airport, etc. From Lebanon, all of that is many hours away.
If you're used to anything semi-suburban, that area is going to seem really isolated and limiting.
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