Sunday, June 7, 2026

Boomer Greed

 6/7/26 Fortune article title:

‘The golden years are not golden’: Boomers are hoarding most of America’s wealth and power because they’re terrified of outliving their money

The arrogance of that title really steams me even the article quotes a number of Boomers refuting that title in part.

1. "Hoarding": like we are never going to spend it. For the most part, Boomers are not overwhelmingly rich. There are homeless Boomers and many barely making their rent or mortgage payments.  I am not one of them, but I know such. 

2. Power: does he mean we elected Trump? Or that we reliably show up to vote? Zoomers can fix this easily enough.

3 Where is our "hoarded wealth" going after we die? We are not taking it with us. We are going to leave it to our GenX children who Zoomers will again claim are hoarding. Much of my wealth is already spent on meals out and services overwhelmingly provided by younger people. 

4. Houses? Yes we bought houses for $106,000 in the 1980s on wages commensurate with those prices ($45,000 was my salary at the time). We paid interest rates that seem horrifying today. I refinanced a mortgage at 10.5% in 1989. We had a 18.5% car loan. (We had pretty good credit at the time.) Life was not easy back then.

5. We had limited capabilities because of technology. A few years ago, my son asked, "Hiw did you buy houses before the Internet." Slowly and carefully  .

BZoomers need to stop whining or Boomers might buy billion dollar yachts and sink them at sea to deny that wealth to the Zoomers.

2 comments:

  1. So nobody at Fortune ever took Economics 101...

    ReplyDelete
    Replies
    1. They did, but don't expect them to have learned anything, or remember any of it after they stand up from the final exam.
      I haven't determined if standing caused all that knowledge to have just fallen out of their ears, or if it disappeared in one noisy WHOOSH.
      Either way, they are no longer burdened by the retention of it, and for sure there's nothing under their hats but hair, if even that.

      Delete