There is wealth inequality in the U.S. Boomers have benefitted from a corrupt system. However, it really seems like there is a concerted effort to bash older people in the MSM. They are a convenient scapegoat. Is it not axiomatic that people who have been around longer to work and invest have more money? Isn't the whole point to accumulate wealth for retirement? Shouldn't people's wealth increase as they age?
If we're just talking about regular asset accumulation in a free market, I would agree with you 100%
We are talking about a group that bailed themselves out. They got duped and should have taken a haircut. But instead inflated debt and used other political means to not take the '08 hit they should have.
They're stingy in almost every way. In positions of power. Even interpersonally. It's hard not to notice. I am blessed to have 2 AMAZING boomer parents. But it's hard to ignore their peers.
Now they're indicating they're in favor of increasing taxes to keep insolvent Social Security going for them specifically. Same issue as in point 2. Completely duped. Writing on the wall for 30 years. Still insist on being bailed out (while calling you an entitled welfare queen for noticing). Vid related.
I would push back in referring to Boomers as bailing themselves out. The system bailed itself out in 2008. Banks bailed themselves out. Many Boomers lost their homes in 2008 and were never bailed out. Some recovered. Some didn't.
I would have preferred to drop out of the system completely, but that wasn't practical while raising a family. So, there were two choices. Play the game to win, or intentionally lose. I saw no reason to intentionally punish myself or my family to prove a point.
I refused to be a fool, dancing on the string held by all those bigshots.
The divide is real but it's not age, it's asset vs wage. Boomers bought houses at 3x income and rode 40 years of rates going down. Stocks went up 10x. If you owned assets you got rich. Under 35s earn wages in a system where houses are 8x income and inflation ate savings. This is exactly why Bitcoiners say fix the money. When money is hard, you don't need to be a landlord to retire.
There is wealth inequality in the U.S. Boomers have benefitted from a corrupt system. However, it really seems like there is a concerted effort to bash older people in the MSM. They are a convenient scapegoat. Is it not axiomatic that people who have been around longer to work and invest have more money? Isn't the whole point to accumulate wealth for retirement? Shouldn't people's wealth increase as they age?
I would push back in referring to Boomers as bailing themselves out. The system bailed itself out in 2008. Banks bailed themselves out. Many Boomers lost their homes in 2008 and were never bailed out. Some recovered. Some didn't.
Baby boomers benefitted disproportionately at the expense of generations not yet ready or able to accumulate assets.
He confesses?!
I would have preferred to drop out of the system completely, but that wasn't practical while raising a family. So, there were two choices. Play the game to win, or intentionally lose. I saw no reason to intentionally punish myself or my family to prove a point.
Vito Corleone
Á thing of beauty 😻
Fuck. The. Boomers.
Earned wealth transfer
archived link
The divide is real but it's not age, it's asset vs wage.
Boomers bought houses at 3x income and rode 40 years of rates going down. Stocks went up 10x. If you owned assets you got rich.
Under 35s earn wages in a system where houses are 8x income and inflation ate savings.
This is exactly why Bitcoiners say fix the money. When money is hard, you don't need to be a landlord to retire.