Boomer CEO says Gen Z has no reason to be depressed...
Because unless there is a nuclear war they will have unbelievable lives thanks to the Great Wealth Transfer. And also says that within the next two decades millennials are set to be the richest generation in history.
I am not sure why that inspired a moment of rage within me. So many of these rich hacks are relying on the mythical Great wealth transfer to fix intergenerational impoverishment. How can these people be so wealthy while understanding so little about wealth distribution. Only about 20% of the population have meaningful assets that could be inherited. Of those, late life medical care and the death industry are going to suck a lot of that up. There is no Great Wealth Transfer for like 95% of the country. People are more likely to inherit some kind of debt obligation than wealth.
And this guy was a banking CEO at that. Out of CEOs that understand how this stuff works this guy should be up there. But he's totally out of touch
Had to rant
I am not sure why that inspired a moment of rage within me. So many of these rich hacks are relying on the mythical Great wealth transfer to fix intergenerational impoverishment. How can these people be so wealthy while understanding so little about wealth distribution. Only about 20% of the population have meaningful assets that could be inherited. Of those, late life medical care and the death industry are going to suck a lot of that up. There is no Great Wealth Transfer for like 95% of the country. People are more likely to inherit some kind of debt obligation than wealth.
And this guy was a banking CEO at that. Out of CEOs that understand how this stuff works this guy should be up there. But he's totally out of touch
Had to rant
