You&#x27;re right that old people have always held power. The difference now is that &#x27;old&#x27; people are not the 45 year olds of previous generations. Instead, wealth is disproportionately concentrated in the hands of much older - 60&#x27;s through 80&#x27;s, thanks to modern medicine.<p>This tends to push back the timeline of wealth acquisition: the boomers being such a big demographic along with the economic crisis in 2008, and what I see in my highly progressive US city is a massive failure for late Gen X and older millenials to form households: children, mortgages, and the typical consumption patterns this usually breeds.<p>There are advertisements for IVF treatments on our metro. I&#x27;d say 30-40% of educated women are unable or unwilling to have children due to the inability to find a stable partner (who&#x27;s also educated). I make well over 6 figures and my girlfriend also does pretty well. Together, we&#x27;d still need to pay half our joint salary to afford a mortgage on a typical home in a area close to our jobs. There is no way a couple with the median income could do the same without leveraging a huge amount of debt relative to income.<p>Whether I&#x27;m able to do so or not, I&#x27;m defintely not willing. Jobs are not certain - I&#x27;m always waiting for the next crisis or recession and lay off. No way in hell would I want to be in so much debt in this system. Same for children (along with family court, but I digress).<p>I&#x27;m guessing our politicians see this and understand that the whole pyramid will come crashing down, hence the elite&#x27;s push for more and more immigration.<p>Maybe the solution would be, instead of subsidizing foreigners, to create massive tax breaks for locals to procreate - housing, child care, etc. But that wouldn&#x27;t do anything to push down wages, so it&#x27;s obviously a no-go in today&#x27;s political debate.