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It is a generational wealth transfer. But when boomers die, they're generally leaving that wealth to millenials, aren't they? Except that the boomers also have
by UncleOxidant 10y ago
It is a generational wealth transfer. But when boomers die, they're generally leaving that wealth to millenials, aren't they? Except that the boomers also have a lot of debt.
- carsongross 10y agoThat would depend very much on how the wealth is consumed I would guess. If it is used to finance vacations to Mexico and throw away imported consumer goods, that wealth will be lost. If it was used to build nice cities and finance great art, it would be preserved.
- UncleOxidant 10y agoUnfortunately, it doesn't look like it was used to build nice cities and finance great art.
- runT1ME 10y agoIt is not generational wealth transfer, it is wealth transfer from the poor/middle class to the rich. It just so happens a lot of the 'rich' are boomers and not rich are millennials, but that's current happenstance.