Yep, all these baby booomers lucked the fuck out being born in an era where the entire world needed the US after WW2. But over time the rest of the world slowly recovered and suddenly US goods became overpriced.
I blame much of the current US economy on the shenanigans of baby boomers and their parents. Who after having a booming economy for 3 decades, needed to quickly financial engineer themselves out of their infinite growth pension hole.
So what did they do? They started offshoring to compensate for the big mismatch in domestic debt financing and actual domestic wealth creation.
While they were doing they, they put the pedal to the metal on wealth inequality as those already with excessive wealth could leverage themselves to the tits to buy up the competition.
The problem is, alot of this is the net result at the macro scale and there were many independent decisions that led to everything.