Since 1989, the 70+ group has expanded its share of national Household wealth by 58%, whereas the share of wealth held by those under 40 has fallen by 42% in the same period.
This is not by accident, but policy design. And it’s not because American’s don’t love their children, but because those making financial policy decisions just love themselves even more.
My kids often tell me they aren’t keeping up with dad when I was their age.
But unlike their dad, their generation was born with a politically-culpable debt canon ball chained to their ankles which was unlike anything my generation knew in our 20’s or 30’s.
Most of my children’s generation are working harder for less, and yet they somehow think it’s their fault.
It’s not.
The new generation inherited a $93T (public, household & corporate) debt nightmare and we gave it to them...
Read full text: https://www.zerohedge.com/personal-finance/next-screwed-generation-deserves-apology