If we were truly suffering from an aging society then where is all the inflation? Where are all the rich old people spending their money but not finding enough workers to do everything they saved their money up for?
It's probably because retirement has to be financed by the individuals themselves. Nowadays retirement means cutting spending today so that you can spend tomorrow. There are rich old people who aren't cutting down on spending but simply keep saving their wealth and there are poor old people who are cutting down on spending to build up savings, even though they are officially above the retirement age. This leads to a savings glut which is something you cannot fix by adding even more money into asset markets.
It's probably because retirement has to be financed by the individuals themselves. Nowadays retirement means cutting spending today so that you can spend tomorrow. There are rich old people who aren't cutting down on spending but simply keep saving their wealth and there are poor old people who are cutting down on spending to build up savings, even though they are officially above the retirement age. This leads to a savings glut which is something you cannot fix by adding even more money into asset markets.