« Reply #1821 on: Today at 02:47:57 AM »
Please elaborate. What have the boomers “ taken”?
I've posted on this previously, but all I got was shrugs and 'I don't get it.' Some of you guys don't want to hear it.
Scott Galloway argues that Baby Boomers have perpetuated "intergenerational theft," using their political and economic power to enrich themselves at the expense of younger generations. He frequently points out that the Boomer generation hit an unprecedented lottery of economic and demographic circumstances, leaving younger workers with fewer opportunities. [1, 2, 3, 4, 5]Core Arguments- Surging Wealth Gap: Galloway notes that the average 70-year-old is significantly wealthier now than they were decades ago, while the average person under 40 is less wealthy. [1]
- The Housing Crisis: Older, home-owning generations have used zoning laws and local regulations to artificially restrict housing supplies. This has caused home prices to skyrocket relative to household income, locking many young people out of the housing market. [1, 2]
- Reckless Economic Policy: Galloway points to federal policy decisions—such as bailing out markets, expanding reckless spending, and keeping interest rates low—as moves that disproportionately inflate stock and real estate prices for asset-holders while ignoring the stagnating purchasing power of younger workers. [1, 2]
- The "Silver Tsunami": As Boomers age and retire, they control a massive portion of the nation's wealth. Galloway notes this will trigger a massive wealth transfer, though early-career job disruptions from AI remain a persistent headwind for the youth. [1, 2]
Basically, Boomers have hoarded wealth like no one has before, made it more difficult for the following generations to take life steps Boomers benefitted from, and has (yes, thanks to Citizen's United - gasp!) used their wealth in politics like never before.
It's not political to say this, it's just the reality of the newfangled situation.....orchestrated by Boomers.
*AND it would be great to address the points made instead of dismissing it because you're a boomer and haven't had a direct hand in these points. Instead of focusing on the sample size of one (yourself), address the larger issues. Avoid clutching your pearls and just have an actual discussion, por favor.
Logged
“The Swamp is where Gators live. We feel comfortable there, but we hope our opponents feel tentative. A swamp is hot and sticky and can be dangerous." - Steve Spurrier
