Imagine a dude born in 1955, partied through the 60's on sound money and free speech, moveed to the hard drugs when he moved away from hard money, used his 30's to securitize his generation's asset, coting for £1.50 of benefits for only 20-30p of taxes, and started to get rich, bought more, borrowed more, alllll through his 40's and 50's, and now he's late 60's, still working, tired, in debt, not well anymore, looking at how he's gonna replace his salary for 25 years without living like a student he's spent his life ridiculing.
He's an ateist - so the future in which he doesnt exist is of no relevence to him. He loves his grandkids but when he dies - he believes they die, for all extents and purposes, and so, he didnt save for them.
This dude, is the median UK/western citizen, and all at the same time - they'll make the same calculation, and liquidate. That will gather pace, be self reinforcing.
But the buyers dont want their tacky, shit ikea houses. They can't afford them, and they have 40 years to work, and the boomers want underlings to pay for their shit tastes. In a rising market - they can - but their bags are heavier every day. Every day their bid price is weaker and weaker, and they are all going to sell at once.
You'll see boomers stopping out, and not even knowing what a STOP trade is.
The Great Boomer Car Boot Sale has started
