According to the central bank, those born between 1981 and 1996, better known as Millennials, control only 4.6% of the wealth in the country even though they make up the majority of the workforce, with around 72 million people.
While it is not unusual for younger people to accumulate
It’s fashionable to boil everything down to class warfare but this struggle is generational in a way that seems important. It’s probably not even fair to look at this like a systemic problem. We have an older generation that is fighting with everything they have to prevent power and wealth flowing to their children’s cohort. That’s not just “capitalism”. That is a unique pathology. I struggle to see analogs in history of this sort of thing.
And people wonder why I have such an issue with so many 80 year olds being in power. This is why.
It’s like the country can’t even imagine a younger person being credible for the jobs anymore. No matter where you are on the political spectrum, America has an 80yr old man for you to vote for!
It’s amazing how many laws and initiatives where put in place to help Boomers and older generations succeed in life and how they slowly stripped everything away after they benefited from it.
Sort of an extension of the constantly growing period of adolescence. Boomers don’t think Gen X and Millennials will do it right, so they hold onto power.
This is my operating theory as well. That coupled with decades of media convincing them that “the kids” are lazy, unreliable, and taken with strange ideas leads them to believe that they cannot responsibly turn the nation over to us.
That’s bullshit, the majority of boomers aren’t happy to see their kids and grandkids struggling, they get manipulated into voting for these things by voting based on other things they’re preoccupied with, just like people of all generations are.