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V. Dominique's avatar

Does anyone remember stagflation? The oil embargo?

It's a myth that "boomers" made out like bandits. The economy began tanking as the oldest "boomers" were just starting to enter the job market, beginning with stagflation, which was followed by the oil embargo, as well as the move to "outsource", "offshore" and "downsize" the manufacturing base which all but eliminated good paying jobs that didn't require a college degree. (Just 26% of "boomers" went to college. That's went to college. The percentage that actually earned a degree is lower. Compare this to the 75% of young people who have enrolled in college.)

According to several sources, roughly 80% of the wealth attributed to "boomers" is owned by just 20% of that cohort, with the rest of that wealth owned by another 30%. Half of all "boomers" have no financial assets, in no small part due to the destruction of the manufacturing base.

That aforementioned 20% are the people living in those affluent suburbs. I suspect that they are also the children and grandchildren of the wealthiest members of previous generations.

Of course, the powers that should not be have been pushing the anti-"boomer" narrative since that generation began entering the job market, although the reasons for why "boomers" are to be singled out has changed over years, and it has been nothing but a psyop intended to keep people from focusing on the real culprits. Yes, some of those culprits are "boomers" and some are among the few remaining members of the "silent" or so-called "greatest" generation, but the old are now giving way to the culprits in the "Gen-X" and "Millenial" generation... the children who were born into those affluent suburban homes now owned by "boomers". Bill Gates is a "boomer" and Jeff Bezos is a borderline "boomer", but Elon Musk, Peter Thiel, Alex Karp, Stephen Cohen, Bill Ackman and Mark Zuckerberg (to name a few) are members of the younger generations. The median age in the House of Representatives is now 57. The youngest "boomers" are now 61.

It's time for all of us to reject this divide and control narrative intended to continue destroying the family structure by turning the young against the old. This destruction, by the way, began during the latter half of the 19th century when the nuclear family replaced the extended family as the ideal household. So yes, let's begin recreating those extended family, not only because it's the right thing to do for our younger relatives but also because it takes a family to create generational wealth. Ever notice how we talk about the Rothschilds, the Rockefellers or the Kennedys? Those with the most make sure to keep their families strong while selling the myth of the rugged individual to the rest of us.

And if we don't reject this narrative? Then "Gen-X" better start preparing because they will become the scapegoat once the "boomers" have all died out. Don't forget that the "boomers" were also primed to hate their parents and grandparents generations. "Never trust anyone over 30!"

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Ricky Bobby's avatar

I lived this 22 years ago in Newport News, VA in the aftermath of Hurricane Isabel. I lived in a 80 year old white bread neighborhood in line with 5 other 80-100 year white bread neighborhoods filled with 30-40 old families with kids and many retirees and widows and widowers. Power was out in our neighborhood for over 30 days. There were three gas stations serving a demo or 100K people that had power. Two days before fists, knives and guns came out in line at these gas stations. The third night we had to stand picket at the entrance of our cul de sac and form hasty hasty neighborhood patrols with my neighbors because the "Canadian" Utes from the bad part of town discovered the home invasion game.

This went on for over 30 days.

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