The “generational wealth transfer” has become a media fascination, both for its eye-popping size and because it might help younger generations as they face doubts about their financial security.
That shift is already in the works, and will continue for a couple of decades. According to wealth management firm Cerulli Associates, some $53 trillion will be passed down from boomers to their Gen X, millennial and Gen Z heirs, as well as to charities. That includes both gifts during their lifetimes and inheritances afterward.
But the overwhelming cost of health care for older people means most people in those later generations won’t inherit much, even if their elders seem well-off today.
The white borgeois boomers collectively raped the environment, amassed debt (fake money for their egotistical pleasure!) they entiteldly expect their children to pay back, and intensified capitalism’s inherent inequality more than any previous generation. Now they’ll spend all they do have clinging for life, and expect us to be grateful and not to protest (and in fact outlaw protest). The ending? We allow them to live fat wealthy lives while we literally burn in the manufactured hell they made for us.
Sound cool? Go learn about socialism.