…think about how the United States went from $3 trillion in debt when the first Boomer became President to $39 trillion today. No future generation will ever get the same benefit of being able to borrow $36 trillion that they won’t have to pay back.
As a rule, institutions should not allow themselves to become over-optimized around a single person (or generation), no matter how talented, in ways that sacrifices the long-term trajectory of the institution or future generations.
— Read on www.aaronrenn.com/p/boomer-succession
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