The Me generation has already pulled the ladder so high, that most of Gen X never made it onto even the bottom rung.
Their parents named them The Me Generation. They tried to stick that label on Gen X, not realizing that they didn’t have enough of us for us to ever be relevant.
The Greediest Generation will be taught about, as the people who were so shortsighted they sold out themselves and their next 5 generations of offspring.
Climate change, although the younger generations aren’t doing much to help with that either.
Corporate nursing homes milking them of all their remaining inheritable money.
And casinos.
Exactly this. I’ve seen it with two of my family members.
They’ve already done it. The environment is fucked for future generations.
they didn’t stop
Reverse mortgages.
My cousin’s neighbor got screwed by this. Thought he was inheriting the home et al - turns out the bank is coming in to take the home unless he can come up with a chunk of money he absolutely doesn’t have. Now he has to unexpectedly move.
…privatization of social security…
In a way, this has already happened with 401(k) plans. In general, making each person’s retirement income more easily measured is likely a good thing, since it will probably encourage people to behave in a more prosocial way. https://www.heritage.org/social-security/report/pension-reform-sweden-lessons-american-policymakers https://www.youtube.com/watch?v=sKjHvpiHk3s
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It seems that there is at least one system that is intended to keep people alive even if they didn’t work much.
Because of low wages and interrupted work history, some workers earn modest incomes during their careers. Many of these workers will reach retirement with small private retirement accounts and notional accounts. To ensure that pension reform does not adversely affect these people, the new pension system guarantees an adequate old-age income for all Swedes.
For a single retiree, the guaranteed pension is about $9,000 per year. A married couple, meanwhile, receives about $16,000. This means-tested benefit is phased out according to the income available from the notional account and the private account. The means-testing rules that govern the guaranteed pension are relatively generous, to the extent that about 40 percent of workers are projected to receive at least some income from the safety net program.
My recollection is that the comment I replied to was “You’d be lucky to keep a job for 30 years to manage to save enough and not die in poverty!” or something similar.
This is the correct answer. And, they’ll do it so that it kicks in only for people younger than them.
why would there be a “final way”?
They’re GONNA die. They don’t get life extension tech. For one thing, they’re already too old for it to do much for them.
so… you envision one last boomer dying out and suddenly the sun rises? like who do you think is behind the mass fucking of the public? no one born after 1970?
They’re more likely to kick the ladder out from under themselves, if gen Z doesn’t been them to it.
milleaneals and gen z is kind adoomed, by moreso for genz.
People like you will do it for them. You think old people are fucking you over when it’s the billionaires. Meh.
It’s both, it doesn’t have to be binary, are you a bot?
Blocking all progress on climate change in order to squeeze every last ounce of profit out of the fossil fuel industry…and then watching the world burn from their private orbital habitat.
To spite the libs, they’ll inflate the US dollar till its worthless.
Nope. Till, though an older form of the word, would be the acceptable term, with 'til being an informal shortening of until that’s used mainly in poetry for cadence (source).
My grammar allies have arrived!
Although frankly the spongebob guy with a board nailed to his head is also pretty much me.
I may not be perfect at it (at all, considering English is not my mother tongue), but I love grammar. It’s linguistic artwork.
Also, I love this alot lol
Leave their houses to their pets when they die.
Nah, pets are too mortal. They’ll be donated to the historical association and be considered landmarks we can neither destroy or live in.
Pet tortoise?
still mortal, could have an untimely deathYes, tortoises, let’s tell them to leave it all to tortoises.
Trump
Nuclear war
Firing the FED chairman and putting a political appointee in his place. It’s kicking the ladder out from underneath you while you hang yourself with Epstein’s rope.
I think crashing the dollar is more likely to screw the boomers than the young. They have the wealth which will devalue. The super wealthy with generational wealth will be fine as inflation will help their assets. the boomers transitioning from assets to cash for stability in retirement will be screwed.
I disagree. Inflation affects property (which probably refers to every tangible thing you will interact with other than the currency that is inflating). If the amount of money you need to give up in order to acquire an object increased due to time passing, that is “inflation”. That means that when inflation happens, every person who has at least 1 dollar bill suffers (since they won’t be able to trade it for as much stuff as they could before). A person who is significantly wealthier than someone else probably won’t have a significantly larger amount of money. Elon Musk surely doesn’t have 1 billion $1 bills stored in a basement: they probably have a large amount of money in their wallet and in a bank account, but I would be surprised if less than 90% of their net worth was derived from owning property. A “billionaire” might have 100 times as much “money” as the typical person, but they probably don’t have 10,000 or 100,000 times as much: https://breznikar.com/articles/how-much-cash-on-hand-do-billionaires-have/1781 https://www.fidelity.com/learning-center/smart-money/average-net-worth-by-age This means that when there is inflation, a poor person’s net worth will likely decline more than that of a rich person, since it’s likely that a large amount of a poor person’s net worth will be in the form of cash when compared to a rich person (and the net worth of a rich person will probably increase, since it’s likely that the value of their property will increase more than the amount they lose from the value of their money going down). People who are older are usually wealthier than young people, and people who are wealthier probably derive a larger percentage of their net worth from owning property than someone who is less wealthy, so when inflation happens, the net worth of young people probably decreases more when compared to older people.
Some things that can offset the impact of inflation are having debt and/or income that increases when inflation happens. I intentionally mentioned that property is tangible, but income and an obligation to pay someone using money seem less tangible. If you only own a $100 bill in your pocket, but you have a debt of $100 and your household income is $80,610 each year, if prices double but your income doubles too, that means that your net worth would not really change (you still have $100 and owe $100), but it would be easier to pay your debt (since it would become a smaller proportion of your income). If your income increases faster than inflation does (which is technically a typical situation), that means that you are in a better position as time passes! Moreover, old people typically have less (earned) income and debt than younger people, so in some ways young people have an advantage over old people.
In general, getting more (earned) income and debt is probably the way to overtake someone older than you. Getting a job providing something that old people pay for (like gambling or medical services) is probably an even better way.
Yes, I agree. The ultra rich won’t be affected as their assets price will rise. The boomers who have reverse mortgages their house have cash, or a perpetuity. The asset will rise. Their money will not.
The poor will certainly be worse off, as they always are. The young will be worse off. However, their wages will rise to catch up. Maybe not enough, but a rose nonetheless. The boomers depending on the reverse mortgage income or the cash pile from the agreement will just have devaluation.
Boomers will be more worse off in dollar terms and percent of wealth lost. At least, that’s my guess.
