They didn’t even read their own links. From the Wikipedia page they linked (emphasis mine) :
Inheritance has become more common among households, with 60% of surveyed households in 2022 having received, expecting to receive, or planning to leave inheritances. Wealthy individuals make up 1.5% of all households but constitute 42% of the expected transfers through 2045, approximately $35.8 trillion. The wealthiest 10% of households will give and receive the vast majority of the wealth, with the top 1% holding about as much wealth as the bottom 90%
First off, the background is based on surveys, not hard data of any type. Expecting an inheritance doesn’t mean being guaranteed to receive one. Where’s the actual data? Second, it’s painfully clear that this “great wealth transfer” is going to miss the vast majority of us. How OP could’ve read this and interpreted it to mean that Gen Y/Millennials are somehow, as a cohort, supposed to become super wealthy? I have no idea.
Then their CNN link, from its very first paragraph (again, emphasis mine) :
However, over the next twenty years, Millennials are poised to inherit some $90 trillion of assets and become the richest generation in history – but only the ones who already come from affluent families, potentially deepening wealth inequality further.
It’s just rich people doing rich people things. This inter-generational phrasing is propaganda to distract us from the real opposition, the ultra wealthy, who are holding all of us down regardless of our age.
I’m sure they did read the content in the links. The point they are making is exactly your final line. There’s this refrain of “Boomers are ruining everything!” but the reality is it’s a small number of people with a lot of money using that money to do what they please at everyone else’s expense.
When the last “boomer” dies, the problem will remain. If we collectively fail to address it, then it’s just going to change up to “Dang GenYs ruining everything!”
It remains to be seen if Gen Y is going to reverse a decades-long trend of increasing wealth inequality. What magical properties are there within a set of people born between two arbitrarily-set years? When Gen Y becomes the wealthiest generation in history, are they going to be any different?
I have heard boomers making the very same kinds of remarks about their parents/grandparents being selfish, not thinking about the future, “working for The Man”, etc. And yet, now “boomer” is shorthand NOT for the 60s generation that worked to make things better via activism, but now, instead, it’s shorthand for something much, much different. And now I hear echoes in Gen Y when they talk about the boomers. Just sayin’ - seems I’ve heard this song before…
They didn’t even read their own links. From the Wikipedia page they linked (emphasis mine) :
First off, the background is based on surveys, not hard data of any type. Expecting an inheritance doesn’t mean being guaranteed to receive one. Where’s the actual data? Second, it’s painfully clear that this “great wealth transfer” is going to miss the vast majority of us. How OP could’ve read this and interpreted it to mean that Gen Y/Millennials are somehow, as a cohort, supposed to become super wealthy? I have no idea.
Then their CNN link, from its very first paragraph (again, emphasis mine) :
It’s just rich people doing rich people things. This inter-generational phrasing is propaganda to distract us from the real opposition, the ultra wealthy, who are holding all of us down regardless of our age.
There is no war but class war.
I’m sure they did read the content in the links. The point they are making is exactly your final line. There’s this refrain of “Boomers are ruining everything!” but the reality is it’s a small number of people with a lot of money using that money to do what they please at everyone else’s expense.
When the last “boomer” dies, the problem will remain. If we collectively fail to address it, then it’s just going to change up to “Dang GenYs ruining everything!”
Yes, THIS. Thank you.
It remains to be seen if Gen Y is going to reverse a decades-long trend of increasing wealth inequality. What magical properties are there within a set of people born between two arbitrarily-set years? When Gen Y becomes the wealthiest generation in history, are they going to be any different?
I have heard boomers making the very same kinds of remarks about their parents/grandparents being selfish, not thinking about the future, “working for The Man”, etc. And yet, now “boomer” is shorthand NOT for the 60s generation that worked to make things better via activism, but now, instead, it’s shorthand for something much, much different. And now I hear echoes in Gen Y when they talk about the boomers. Just sayin’ - seems I’ve heard this song before…
I did indeed read both links. You seem to be missing the point.