Here's the data that shows that Boomers entered adulthood when the economy had the lowest wealth inequality ever. In other words, it was never easier to attain upward mobility.
A mussel with a cartoon on it? Wow, that's real econometric data.
Shit. The TD picture glitch struck again. The glitch replaces pics that get posted with another pic
Heres the link to the pic. https://zh-prod-1cc738ca-7d3b-4a72-b...?itok=YNh7_FcU
In the 1990s, when Baby Boomers were in their late 30s, just slightly older than Millennials’ age in 2020, they owned seven times the share of household wealth (21% vs. 3%). The opportunities for income and wealth accumulation were massively more significant for Baby Boomers than for Millennials.
As a result, it isn’t too surprising to observe a fair amount of discontent directed at the Baby Boom generation, and it is clear from a number of the Reddit/wallstreetbets threads that this is happening. Further, any reader of The Fourth Turning by William Strauss and Neil Howe can come away with plenty of material for younger generations to incriminate the Baby Boom generation.
For example, Baby Boomers in the US grew up in an environment of enormous economic growth in one of the world’s wealthiest countries. Yet, those prodigious benefits seemed not to be enough; massive debts got used to boost consumption even further. From a historical perspective (and to younger generations), Baby Boomers’ generation appears rapacious in its consumption, like locusts stripping the country bare.
So why don't you elect better governments, and get back to a taxation system that is remotely fair? Wealth inequality has spiralled because of government policy.
That is correct. Its all caused by government and monetary policy. Boomers just happened to be entering adulthood as the gold standard was scrapped and unlimited ponzi finance started. But there is no simple policy to change this disaster now. This disaster just has to play itself out. Plus Boomers are still too old. They still have a huge vote. They are still the heads of government and departments
The only issue we have is with the Boomers who think that they are 100% self made and who think the playing field is the same for millennials as it was for them.
Here's one for skidmark.
I was born in the 60s in the UK. I worked 20+ hours a week in addition to school from age 16 to pay rent to my mother (£15 a week in 1982). Yes, I got "free" tuition. But zero maintenance award to uni meant working full time to pay my way through without parental support. In any event only 2-3 % of school
leavers went to Uni. Today it's over 50%.
I worked as a nightclub parking attendant and taxi controller to save up for a gap year. The only shirt i had to wear in Thailand was from school. In the Winter we picked oranges in the Pelopponese in Greece.
The mortgage rate on my first home went to 15%, so I lost my home, like thousands did. It eas a friend's sofa or the street. After being left for dead in Iraq by HMG I returned to the UK, skint. No food banks then. You went to the street market at closing time and got the bruised and damaged unsold fruit n veg for pennies.
I'm not sure I recognose all the "privelege" I'm supposed to have enjoyed.
Last edited by Lostandfound; 28-03-2021 at 09:55 PM.
^ Aye, you were one of the lucky ones, L&F.
Now when I were a lad .....
Yes, but all what I decribed was quite normal to a working class or lower middle class kid in the 70s and 80s.
Getting a job at 16, for example. I see parents ferryi g their 18 year old kids 2 miles to school every day now.
As previously mentioned, the applicability of this 'Boomer' tag varies geographically. To refer to a Thai now in their sixties as a 'boomer', for example, takes a special kind of idiot.
Many of the 'boomer parents in the UK (and occupied Europe) grew up during WW2 with rationing, fear of invasion, the Blitz, evacuation, premature and violent death etc. It's unsurprising they expected us to be self reliant, resilient and happy with far less than imaginable today.
The only disadvantage suffered by subsequent generations is an abundance of nannying, lack of initiative, little sense of adventure, risk aversion and a fear of the unfamiliar. In this regard they have grown up in poverty and their lives disadvantaged as a result.
That OP was pretty awkward.
Last edited by Slick; 28-03-2021 at 10:58 PM.
Mostly drug addicts and illegal migrants/chancers. Greek millenials have migrated to Paris, London, Berlin etc. the same as the Greek boomers. The difference was the boomers had two years compulsory, unpaid military service to complete before heading off. Indeed, Greek homosexuals were famous for looking after the hungry conscripts in the 70s and 80s. The rent boys today are the same scabies ridden addicts and illegal migrants who shoot up on the streets. NGOs bring them food every day and documentary crews pop by to make the wokerati angry about their pitiful, self inflicted misfortunes.
Greek farmers struggle to find labour. Today's EU kindern are far too fragile to pick oranges. A 5am start to the working day whilst living in a tent is no longer acceptable to them. Even most of the illegal third world migrants shun the work. Why bother, when the state and NGOs are doling put free board, lodging and pocket money and camera crews roam making outraged documentaries bemoaning the inferior quality of all the free stuff heaped upon them.
Last edited by Lostandfound; 28-03-2021 at 11:24 PM.
The boomers tend to appear at night to rifle through the bins for food. Their self dignity generally prevents them from doing so in the daytime.
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