Good write up over at wsj.com:
It wasn't too long ago I was reading about all these new businesses that planned to chase boomers retirement dollars. Times have changed....
This quote is interesting too
As of 2008, the latest data available, people aged 65 to 74 were spending 12.3% less than they did ten years earlier, in inflation-adjusted terms. They cut spending on cars and trucks by 46%, household furnishings by 35% and dining out by 27%. At the same time, they spent 75% more on health care and 131% more on health insurance.
Nice clear example of how health care cost has become a serious drag on the economy. So nice that our new spiffy health care laws put cost control front and center.