politics

Boomer elites did this, not the boomer people making smart choices for themselves. Just like Gen X, Millennials and Gen Z, the boomers who came out of college weren't making the laws. It's good to be reminded that these laws are shit, but I think there's a better question. Why are there so many anti-boomer articles coming out when it's the bank managers, the politicians, etc., making these laws and most of the US just votes at best?

This is a vote, vote, vote for people that will help build the middle class up again, that means all ages at the local levels. Also, it means break up the monopolies so we can build a better working environment. This is a distraction, please don't fall for it.

Far and away the greatest wealth transfer was between the poorest half of the world to the wealthiest 1%. This is just noise caused by that statistic. That's the culprit of that, not some boomer with a vacation home that they're struggling to manage the payments on.

No war but class war.

Bank of America says

Were they bragging?

GOOD NEWS: YOUR PARENTS ARE GONNA DIE! MAYBE EVEN BEFORE 2030!

Baby Boomers transferring wealth to Millenials? Over Gen X's dead body!

This is the best summary I could come up with:

You’ve probably heard about the “great wealth transfer.” It’s the $72 trillion stack of assets that baby boomers are sitting on and going to pass onto millennials someday, thereby solving many of the economically beleaguered younger generation’s problems.

No less a figure than Ray Dalio, the billionaire and former leader of what was for many years the world’s biggest hedge fund, wrote on his LinkedIn page in August about a “coordinated government maneuver” that left household balance sheets rich and the state effectively broke.

Fortune has reported extensively on how millennials have not enjoyed a boomer level of success as they struggled to afford to buy a home for years before facing off with an overpriced, ultra-competitive pandemic housing market.

In addition to low interest rates and inflated housing prices boosting asset value, a 2020 Deutsche Bank report found that boomers shelled out less for education than millennials did and won’t have to pay for the environmental damage caused by the carbon emission-releasing companies they invested in.

While boomers have still had their fair share of economic challenges, like the Great Inflation of the 1970s, BofA found they ultimately benefited in the long run from an economy that’s set them up pretty nicely for wealth accumulation.

Dealing with a hefty price tag for a college education and ensuing student debt, many young adults graduated into a post-recession thorny job market, bouncing around to find a well-paying role.

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Boomers will eventually go to a nursing home, hospital, or hospice. The money will dry up from these and if they still have money left over, there is the estate tax. The children looking longingly at the large bags of money the parents have won't get as much, and some of this captured money will begin to circulate again.

A LOT OF BOWERY BUMS USED TO BE EXECUTIVES