http://www.telegraph.co.uk/finance/pers ... 1718791175
A 60ish friend and I discussed this topic several years ago.
We concluded:
1. It could be a real phenomena.
2. At age 50 plus, you start to think "Hey life is short! Why should I not buy the new motorcycle or boat? In ten years, I might not be able to enjoy it.
3. I scraped and saved for decades. Now I finally have tow nickels to rub together. Screw my kid's inheritance fund.
This could be a generational power play. Should 50+ers be allowed to stay in positions of power In govts, banks, and universities....
Intellectual justification for Soylent Green manufacturing....