Stanley Druckenmiller: "This Is The Most Unsustainable Situation I Have Seen In My Career"
. . . is the Millennials awakening to the understanding that the Boomers have seriously screwed them to the tune of trillions of dollars.
The Great Realignment of resources will be extremely painful, primarily because only one half of the Boomers have any retirement savings at all. We have friends whose parents needed to sell their primary residence and move into a much smaller place near their children because they simply never saved for retirement, but retired anyway. Now they do not have the money to support themselves. Expect to see this repeated often during the next few decades as the Boomer retire.
We need to leave the progressive welfare system and build a new, and better system to protect the elderly in old age, the poor today, and those whose medical costs are too significant to bear alone. We need to do this soon.