Iconic hedge fund manager Stanley Druckenmiller, the founder of Duquesne Capital Management, has been vocal for the past several months about the issue of generational theft.
Druckenmiller, who accurately called the housing crisis, has said he sees another “storm” coming due to entitlement transfer payments. Entitlements are things like Social Security and Medicare that primary go to older, retired workers.
The billionaire fund manager believes that seniors in this country are essentially stealing from the young via these entitlement transfers. What’s more is he thinks it could result in a crisis even more devastating than 2008.
Druckenmiller, 60, will be visiting various college campuses this fall to talk about this issue with the younger population. We found a video of his presentation he gave at his alma mater Bowdoin College in Maine a few months ago.
Druckenmiller told the Bowdoin students that he started worrying back in 1994.
“The reason was because…it was demographics because I knew that in 2011 the ‘Baby Boomers’…the front end was going to turn 65 and you were going to have this huge surge in entitlement payments because again the biggest buckets of entitlements are for the elderly.”
He also shared 16 charts with the students and explained why it’s such a pressing matter that should be addressed now. We’ve included his charts and commentary in the slides that follow.