Originally Posted by Arkie
It's the cult of fiat money. A simple savings account could maintain purchasing power before 1971. The wealth gap grew wider after hedging became essential to financial planning. The financial sector's share of GDP exploded in the post-1971 world. The poor have less access to these services or less expertise in general. They fall further behind as the rich get richer.
A large number of baby boomers can not afford to retire and there is a severe scarcity of jobs now with not much hope for new job creation ahead.