Gyroscopic Investing

https://real-estate-and-urban.blogspot. ... -line.html

Makes the case that median earnings during peak working years have decreased, but this is masked because of the cohort bulge in their peak earning years.

Brilliant. And very true.

I saw a similar argument that the obesity epidemic is largely caused by a population shift. The population on average has aged about 10 years, and the percentage of Hispanics has greatly increased - and they are more prone to being classified as overweight than are Europeans. The average person has indeed gained weight but it's on the order of 8-10 pounds. (What has increased is metabolic syndrome and diabetes, but those are not as strongly linked to obesity as you might think.)