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Millennials Control Less Than 5 Percent of America's Total Wealth
Recent financial reports paint a grim picture of the Millennial
Generations' economic health. Despite being the most represented
demographic in the work force, Millennials only control 5% of total US
wealth, compared to the roughly 20% that their boomer parents controlled
at the same age. What's going on? The reason should be pretty
obvious.
Newsweek Article: https://www.newsweek.com/mille....nnials-control-just-
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4 years ago
What frustrates me is the fact that they're draining us of our energy; the insane rents, for example. It's called Economic Rentierism. It's a form of financial parasitism. The main beneficiaries are the FIRE sector; Finance, Insurance, Real Estate. What's crazy is that Baby Boomers, who own the VAST majority of the wealth, also expect us to pay for their pensions. We hold 4% of the wealth, we're getting drained like frickin' batteries, and the Boomers still expect us to pay their pensions!
4 years ago
Damn good rant, sir!! I saved this on my computer, because it explains EXACTLY our predicament. The older Boomers do not WANT to hear this truth, and they ignore it when they do hear it. They're probably the most selfish, greedy generation America has ever had. It's so shameful how they're willing to profit off destroying the latter generations; a lot of them don't even feel bad about doing so.