Yeah, I'm not really sure what the boomers have to do with cheap credit. The cheap credit from my understanding has to deal with printing money and, if anything, Chinese saving. I mean, were already stealing from the Boomers en mass with inflation, which is its point. Not that the boomers are saving all that much anyways. The Boomers are saving all that much anyways: the average boomer by this chart turned 18 around 1970.
And, since the Boomers came of age where they could start saving, US saving rates have been going down immensely.
In general, the Boomers have
not been saving money.
"According to a 2018 Sightlines report, 30% of baby boomers haven’t saved anything for retirement.2 For those with something saved, the median balance for those born between 1948 and 1953 was $290,000. For those born between 1954 and 1959, they had saved around $209,000.3
Those numbers might not sound too alarming but that $290,000 in retirement savings equates to about $12,000 per year using the standard 4% withdrawal rate. Even adding in Social Security benefits of $17,532, an average Baby Boomer is only bringing in about $29,4532 per year.4 Hardly an income a person can live on comfortably."
If anything, I can see credit get even cheaper as the Boomers retire, as people who drive the demand for things people borrow for, such as Houses and Car, age out of needing to borrow.