(2) The problem with wealth distribution is that young people have been locked out of the traditional basis for wealth creation - home ownership. 'Distributing' boomer wealth won't solve that problem. Reducing migration and increasing supply through the right policy settings will.
(3) An attitudinal problem to money has developed over the last 3 decades or so. In our youth - for those of us who were aspirational - savings came first: fancy food, clothes and fashion, restaurants, entertainment, new motor vehicles, gap years, overseas travel etc. were hardly part of our lifestyle. Recessions taught us that life wasn't meant to be easy. It's no coincidence though that over these last 30 years we've experienced the Great Deflation, interest rates have fallen, and almost anyone can get a job at any time.
Up until relatively recently, youth could never envisage challenging times, being somewhat bemused at their elders' asset/wealth mindset, compared to their own prioritising of "experiences". Life has a funny way of coming full circle.
