Monday, March 23, 2020
The coronavirus pandemic continues unabated through much of the world. Despair is starting to weigh on society as millions of people have lost their jobs and our freedom of movement has been curtailed by the government with no recourse for dissent. Through this natural disaster, a morbid theme has emerged for the Corvid-19 virus--Boomer Remover.
Used mostly by the young, boomer remover shows their disdain for the elderly and who they think is the source for much of their misery. While they are trying to carry on and party like the young are wont to do, they are being forcefully suppressed by their supposedly more educated and worldly elders. They have been thrust into the worst US economy in at least a generation, and maybe as bad as the Great Depression of the 1930's just as they are graduating from school and starting their families and careers.
However, it is the baby boomer generation that is feeling the brunt of the Corvid-19 chaos. First of all, the disease is much deadlier among the elderly than the young. The death rate for those under 50 years old is less than one percent. After that, the rate increases exponentially until after the age of 80 where the death rate is almost fifteen percent. That's why the college kids feel like they can party on Miami beaches with little consequence for their own health while the country watches in horror.
Then the government guidelines ask that those over 60 years old should stay home since they are the ones most likely to suffer severe illness from the virus when they get infected. This has caused many of them to miss precious work just when they are getting set to retire. In our practice, our older partners have voluntarily stopped working for the last two weeks. I don't know how much longer that can last as they are making zero income sitting at home.
The stock market crash has also disproportionately affected the baby boomers. The financial crash of 2008 forced many in our group to work past their expected retirement age. This caused our partnership to become too top heavy as the older anesthesiologists refused to retire, making it difficult to hire younger partners. After eleven years of a bull market, we finally had an exodus of retirements in the last two years. Wouldn't you know it, the market crashed again. Who knows when people can feel whole enough again in their retirement accounts to contemplate hanging up the shingles.
So the younger generation may feel that they are the ones bearing the brunt of this economic collapse because of government mandates beyond their control. But the term #BoomerRemover may be more accurate than they realize. The increased mortality associated with the disease and the financial difficulties that will crush their retirement savings may cause a calamity for the boomers that are yet to be calculated.