The ‘great wealth transfer’ isn't $73 trillion but $129 trillion, Bank of America says—and the government gave most of it to baby boomers
The ‘great wealth transfer’ isn't $73 trillion but $129 trillion, Bank of America says—and the government gave most of it to baby boomers
Boom! Government policy has really enriched a certain generation of Americans—ones who have been in power for decades.
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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.
take your carrot and stick and shove both up your ass, no one in the lower class is gonna see a cent of that hoarded wealth.
They could fix that sentence by specifying that it's elite baby boomers that will pass it on to elite Gen Y.
That's right. All the Baby Boomers had kids at the exact same time. They totally didn't give birth to Gen Xers or Millennials.
All their money will go to one generation.
It's a well-established pattern that, as soon as generations come up for discussion, shit gets dumbed down fast.
In general, I value Adam's take on the notion that generations don't really exist and view it mostly as a tool of marketing and the elite.
The corporate media narrative of the Boomer-Gen Y division is a classic case in point. Looking back, there was the Boomer vs. "Greatest" Generation narrative. Watching the current narratives of Boomer vs. Gen Y and more recently Gen Y vs. Gen Z is like watching re-runs.