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  • "Currently alive people have higher number in bank account than previously alive people, which is known as inflation"

    • You can break it down into real assets. There's more developed physical property than in prior generations. More infrastructure. More advanced business capital. Its not strictly inflation.

      However, a lot of the accumulated wealth is purely speculative. The "Magnificent Seven" stocks:

      Microsoft (MSFT), Apple (AAPL), Nvidia (NVDA), Amazon.com (AMZN), Alphabet, Tesla (TSLA) and Meta

      saw their valuations surge 140% from the 2022 slump. Does anyone seriously believe these firms grew their physical capital stock or cultivated a larger and more efficient workforce at that scale within a meager two years?

      On the flip side, you've got a great number of countries and economies actively under sanction at an international level. China's Huawei is easily on par with the American Apple, but US restrictions on their sale make their stock a dead letter on Wall Street. Russian mineral exports have boomed as the sanctions have curtailed their ability to participate in international financial markets. The Cuban bio-medical industry is riding the bleeding edge - producing new treatments for everything from lung cancer to kidney failure to COVID at a breakneck pace - but can't export any of this technology due to the US embargo and blockade. Venezuela's economy grew 40% in the last year, largely thanks to renewed trade with Brazil, but you won't see that on any kind of stock ticker. South Africa's economy is booming with all the new trade forced around the Horn of Africa due to the Houthi attacks in the Gulf of Adan.

      The wealth this article is describing is heavily divorced from the real utility being rolled out and delivered internationally. Americans are building an empire of paper promises, while the BRICS and their affiliates engage in an unprecedented economic development program.

  • And which old rich boomer is going to give me money, exactly?

    My family are poor, my parents were poor, my grandparents were poor, etc etc.

    It's all about what bloodlines you're in. Which class you're in. Obviously the rich ruling class are going to inherit their family money.

  • Lol please, these people fear death more than anything, they exist wholely within the material. They will spend every last time breathing one more wretched breath. I make a dime, while my boomer and X bosses make millions. Its not even a dollar anymore, I am straight up shafted eith no recourse but to quit and become even more poor.

  • thanks to the property assets accumulated by the generations before them.

    These people have clearly never heard of reverse mortgage. So take what they have to say with large heapings of salt.

    While they wait for their inheritances

    LOL. Yeah these people are taking the piss here. Many of the folks I know with boomer parents that have already passed have seen roughly 90% to 96% of the accumulated wealth either taken in medical expenses, obligated debt, or just straight up poor ass planning that left the parents near penniless in their final days.

    This whole story is predicated on ignoring massive costs that come at end of life that many boomers have not planned on. And one can easily objectively see then ignoring this by failing to account the massive upswing in reverse mortgages and filial responsibility cases.

    The boomers are not giving us anything when they die except headache.

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