Baby boomers have now 'gobbled up' nearly one-third of America's wealth share

Neither does the route we are taking now Spectrag! Wars, mass murders because "they" don't like someone's race, religion, orientation or ideology. Too much of that is happening now. I wouldn't bring a child into this world now if I was still at child bearing age. My oldest grandson will be 37 this month, my youngest will be 22 next month and there are three more in between. I feel for them. They have to worry about getting shot at work or on the college campus, or while in church, synagogue or mosque or at the shopping mall.

Too many people can't afford to feed and house themselves, let alone a child or children. The cost of raising a child from birth to 21 has become astronomical. especially if college is in the plans. Regular folks are being priced out of the rental and housing markets. Our infrastructure is detereorating, or worse being destroyed. Money (to fix) seems to be more important than life saving fixes. The educational system just got whacked and we are poised to see a further dumbing down of our children (check U.S students' ranks compared to children in other countries). So if the education is poor, especially for the poor, what chance is there (for many) to get good jobs when the current competition is global?

We are also not taking care of our planet. Climate change is going to bring about some devastating events that we are already starting to see. It is predicted that many coastal cities and towns will be underwater by 2050. When I first started reading about this, the timeline was the end of the 21 century! Atlantic City is on the list. My granddaughter wants to stay there after college.
https://www.thetravel.com/15-usa-ci...rwater-by-2050-10-already-on-the-ocean-floor/

NOAA map showing predicted submersions:

MSN

Our ecosystems are getting screwed up. Some animal species are becoming extinct. Our oceans are so polluted that soon eating certain fish may actually be dangerous. Animals raised for food are being injected with hormones and antibiotics. We've got GMO and and other fake foods (including fake meat). Yeah....really a great world for innocent children to be raised in !! Rant over! 😒
there is a lot of truth in what you say- sometimes I feel as a human race we are just speeding into a final disaster?
 

there is a lot of truth in what you say- sometimes I feel as a human race we are just speeding into a final disaster?
If collapse of human civilizations is in the near future, it is truly an apocalyptic time. This year, again, was the hottest on record, with climate disasters affecting our health, finances, and dwelling place. The boomers are slowly but surely exiting the stage with our children and grandchildren left to live out the rest of their life. Will AI plus global transformation be for human well being, or more of the same money games?

Money is disappearing into the nanu-nanu cloud. It will be a pixels or whatever on a screen. That's it. Probably plastic will be gone a voice recognition will be your security, or eye scanning. from 15 ft away. That movie the "Matrix" is looking more realistic day by day. :)
 
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Great post, but your last sentence concerns me. My six grandchildren are not old enough yet to be thinking about having children, but many of my two sisters' grandchildren (there are 28 total) who are older also feel that way. Does not bode well for the future of the human race?
Your two sisters have 28 grandchildren between them? Good heavens! Even if only half of them have a single child each, so 14 in that generation, your family will have propagated more than most.

With a current estimated 8.26 billion people on the planet, and that number increasing every year, there's not much chance of humans dying off due to low birth rates.
 

Your two sisters have 28 grandchildren between them? Good heavens! Even if only half of them have a single child each, so 14 in that generation, your family will have propagated more than most.

With a current estimated 8.26 billion people on the planet, and that number increasing every year, there's not much chance of humans dying off due to low birth rates.
The world population is projected to peak around the 2080s at roughly 10.3 billion and then begin a gradual decline, primarily due to falling global fertility rates dropping below replacement levels (2.1 children per woman) in many regions, leading to widespread population aging and eventual contraction in most countries, though significant regional variations exist with rapid growth in parts of Africa.
 
The world population is projected to peak around the 2080s at roughly 10.3 billion and then begin a gradual decline, primarily due to falling global fertility rates dropping below replacement levels (2.1 children per woman) in many regions, leading to widespread population aging and eventual contraction in most countries, though significant regional variations exist with rapid growth in parts of Africa.
Yes, I've seen those projections. There are already extreme stressors on our planet's resources, so the nearly 25% increase in population by the 2080s will make things that much worse.

Encouraging increased populations primarily to support ageing elders seems a poorly thought out, short-sighted strategy. I have no fear that the human birth rate will diminish to zero unless we blow up the planet or create a virus that will wipe out the population entirely.
 
Many people aren't having children because of the high cost of living in general, but especially housing. They can't afford to buy family friendly housing and might be stuck in an apartment. Childcare costs a fortune, as does health insurance... And a few years down the road, how are they going to be able to afford to send their children to college?

And now there's the threat of AI eliminating so many jobs, what's the future going to hold, and how will their children going to fare when they're grown? There's just too much uncertainty and instability, which are making people reluctant to procreate. They're uncertain about their own future; having children to be responsible for would make it even more difficult.
 
Ever since the mid 80's we have swung in the direction of accumulating wealth, and it will swing back the other way, of taking care of each other. We might not see that time because we don't have that long to live. As it swings I hope it is soon enough to avert the problems the future holds.
 
Gobble UP??? Are we now a bunch of brainless turkeys?

How about replacing your starting sentence with this:

“ Wise and thrifty baby boomers have through hard work, frugal living and investing, acquired a huge amount of wealth to spend in their old age for necessary goods and services as well as enjoying their golden years. The excess not spent will be passed down to their children and grandchildren for things like a better domicile, post high school education, etc. “

Add: By the way they did this despite double digit inflation at the start of their working lives and much higher mortgage rates on their early housing.

I think my starting comment is much more accurate and does not invite people into another them vs. us round of warfare.
I noticed that the @spectratg simply used the title used in the article linked below, but apparently didn't post the link.
MSN
 
One thing folks should keep in mind. Since the 1990s there has been an extraordinary amount of wealth created in the world and especially in the U.S.

Companies like Microsoft and Apple, and now Nvidia and AMD, have massive market capitalizations based on the development of software, the internet, mobile phones, AI, the cloud, etc. The Congressional Budget Office estimates that total wealth has quadrupled since 1980.

Of course, it's not well-distributed. It's largely (not exclusively) in the hands of founder-entrepreneurs like Gates, Bezos and Musk. It wasn't taken from the poor, but they haven't benefited from it much either.
 
A big part of the problem is oligopolies and giant conglomerates that have all but eliminated competition.

Capitalism relies on competition to succeed, but because of deregulation and lack of antitrust law enforcement, a few corporations are thriving and a few people are getting filthy rich while everybody else is getting left behind. Some have called what we're currently going through "late stage capitalism."

"Late-stage capitalism" is a term used to critique modern capitalism's perceived absurdities, extreme inequality, and unsustainable trends like consumerism, corporate power, and worker exploitation, originating with economist Werner Sombart, evolving from academic critique to a social media meme highlighting systemic issues like the gig economy, wealth disparity, and commodification of everything from social movements to basic needs.
 
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