Claims

Post-WWII history shows that countries with new cohorts of savers entering peak saving/retirement/family formation years experience secular bull markets in equities; demographic tailwinds will support US equity markets into the end of the decade.

Baby boomers are unusually inflationary (contrary to standard economic theory that aging cohorts are deflationary) because they accumulated $35 trillion in net assets through government policy that sterilized deficits into asset markets since the 1970s-1980s, and COVID wealth creation followed by mortality anxiety has created a 'YOLO trade' where they are spending down assets into real consumption faster than usual.