The Wednesday Letter 185 - 13 September 2023

THIS WEEK: The 65-and-Over Population; Game of Drones; At Home and Overemployed; China's Demographic Dividend; S&P Sectors Update; GeoReads 004; Tweets and Charts.

THE 65-AND-OVER POPULATION

Baby boomers have had an enormous impact not only on the society, culture and economy of America, but also on those of countries all around the world. Boomers today continue to hold a huge share of wealth and power. It is estimated that boomer wealth in the US amounts to $75 trillion, which is nearly twice as much as the total wealth held by Gen X-ers and ten times the wealth held by millennials (see the WL 177). And boomers remain politically dominant despite their advancing age. Boomers are the largest group in the current Congress and boomers are governors in 29 of the 50 states (there are 20 Gen X governors and a lone millennial, in Arkansas).

The youngest boomers will turn 60 next year but boomers will continue to exert their influence on the US economy. In the next two decades, the aging and passing of their genera…