Americans aged 55+ account for 45.3% of all US consumer spending, the highest in at least 28 years.
This is nearly DOUBLE the ~28.0% seen in the early 2000s.
By comparison, those aged 54 and younger are down to just 54.7%, from ~72.0% in 2000.
As the population ages further, this shift is only going to accelerate as older populations are the largest holders of US wealth, including real estate and stocks.
Just bought a dryer myself, but I'm only focusing on big durable goods. Instead of dumb-spending, it's just going into retirement accounts for me.
Not sure exactly how this plays out but it sounds f'd. Not surprising the stupid masses are pushing for socialism...
I wonder if they could normalize for share of the population too and say something like, the average 55+ individual accounts for X% of spending while the average 55- accounts for Y%