Scary numbers on 10-year survival chances

michaels

Unless we are destroying more wealth than is created each year (effectively running down capital) then given that people die, I can't logically see how an older generation could be richer than a younger one in aggregate?

MarlowMallard

If you're middle-aged, call yourself B.  Find a person A who's 15 years older and was doing your current job 15 years ago.  Find a person C who's 15 years younger and now doing the job you had 15 years ago.   You'll probably find that A has a better pension and house than you'll get in 2040, and C is worse off than you were in 2010 (student debt, crazy mortgage/rent etc).   

Over the past 15-20 years, salaries have stagnated, future pensions have got worse, and housing costs have shot up, so an increasing fraction of GDP has gone into non-productive housing costs.