fodor comments on The wealthy boomer problem is metastasizing — they got 38% richer over the last 3 years as Gen Z and millennials under 35 got wiped out

[–] fodor@lemmy.zip 35 points 19 hours ago (2 children)

This is mostly bullshit though. The real problem is the ultra-rich. Grandparents who have a million dollars are not destroying the fabric of society.

It's a class war, but don't get played by Fortune. They will always lie about who did what to placate their ultra-rich owners.

permalink

fedilink

source

hideshow 2 child comments

[–] tburkhol@slrpnk.net 6 points 11 hours ago

A million dollars is not 'ultra-rich,' that's more than 10% of the US.

Anyone who has significant exposure to the stock market - 401k, IRA, whatever - "made" a lot through the AI bubble these past 3 years. That's the top end, and if you believe the AI bubble will burst, then all those rich old people are about to lose their paper wealth.

Inflation disproportionately affects the low end, where an extra $50 on gas or $200 on rent means they're no longer saving, or dipping into the emergency fund to pay bills.

It is a class war. It's structural, and it's not just the billionaires benefiting.

permalink

fedilink

source

parent

[–] Two_Hangmen@midwest.social 0 points 18 hours ago

But the ultra rich got there when the Boomers put Reagan in office. They voted to help themselves a little, and the 1% a lot.

permalink

fedilink

source

parent