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'Great wealth transfer' isn't $72T but $129T, and government gave it to boomers
- slater 3y agohttps://archive.ph/wMLtj https://archive.ph/wMLtj
- pimlottc 3y agohmm, gets me stuck in a cloudflare recaptcha loop :/
- Bender 3y agoIt happens if you are using CF for DNS. Archive.is will give 1.x.x.x something for requests coming from CF. Archive.is itself is not behind CF. Try archive.org [1] for this one instead. [1] - https://web.archive.org/web/20231029182804/https://fortune.com/2023/10/28/great-wealth-transfer-baby-boomers-bank-of-america-millennials-government-policy/ https://web.archive.org/web/20231029182804/https://fortune.c...
- rayiner 3y ago> Boomers have quite simply been the biggest beneficiary of a “massive wealth transfer,” wrote the BofA team led by Ohsung Kwon, echoing Dalio’s observation that trillions of wealth flowed from the public to the private sector thanks to government policy since the 1980s, when boomers were in their prime working years. The article doesn’t say what these policies were.
- FFP999 3y agohttps://en.wikipedia.org/wiki/Reaganomics https://en.wikipedia.org/wiki/Reaganomics
- IOT_Apprentice 3y agoExactly who are these boomers that have a portion of 172 Trillion? What is the actual distribution of this vast amount of wealth?
- sneed_chucker 3y agoI feel like the boomer hate stuff is propaganda aimed at getting you to resent middle class old people instead of the ultra rich who actually run the show.
- atlantic 3y agoAbsolutely. Seemingly, creating hatred between races, between sexes, and between generations are all part of the same agenda. Class warfare, on the other hand, is conspicuously absent.
- m463 3y agoI can't help but think of the monty python movie where they ask "But what have the romans ever done for us?" I mean the boomers built the roads, and ...
- bonerooo 3y ago[flagged]
- ipcress_file 3y agoThe purveyors of this kind of reporting want you to blame your aging neighbours, not the exploiting classes who actually legislate the system.
- pbjtime 3y agoExactly. ...what's the average age of those legislators?
- ipcress_file 3y ago[flagged]
- fallingfrog 3y agoOk but I’m willing to bet it was given to a small and specific set of boomers who own a lot of capital, rather than to boomers in general. Seems like we’re trying to distract people from class issues by fomenting discord between generations.
- IronWolve 3y agohttps://finance.yahoo.com/news/great-wealth-transfer-isn-t-100000946.html https://finance.yahoo.com/news/great-wealth-transfer-isn-t-1...
- IronWolve 3y agoWhy is the author blaming older workers for not having a large inheritance? Blackrock owns or invests in companies to raise (maximize) rents around the world. You might not even realize there's entire industries now to maximize what they can force people to pay for products, services, including raising rents. Corps are squeezing every last penny from consumers, while mass inflation and sky rocketing interest rates. Its a race towards the bottom with high prices while the corps make as much as they can. https://www.axios.com/local/dallas/2022/10/18/texas-company-raising-rents https://www.axios.com/local/dallas/2022/10/18/texas-company-...
- thoughtstheseus 3y agoRealPage/YieldStar is backed by the elderly IMO. It’s owned by private equity firm Thoma Bravo which was the largest recipient of public pension fund PE dollars in 2020.
- PeterStuer 3y agoJust another round of divide and conquer to avert the plebs. Don't look at us, it's the old folks. Look at how that homeless boomer grandpa is stealing your cookie.