Rich Geezers

I try not to read any more about how the Baby Boomers are screwing over the world, but it just keeps coming up. In USA Today:

The growing divide between the rich and poor in America is more generation gap than class conflict, according to a USA TODAY analysis of federal government data. The rich are getting richer, but what's received little attention is who these rich people are. Overwhelmingly, they're older folks.

Nearly all additional wealth created in the USA since 1989 has gone to people 55 and older, according to Federal Reserve data. Wealth has doubled since 1989 in households headed by older Americans.

Not so for younger Americans. Households headed by people in their 20s, 30s and 40s have barely kept up with inflation or have fallen behind since 1989. People 35 to 50 actually have lost wealth since 1989 after adjusting for inflation.

Props to people like Anya Kamenetz of Generation Debt who are trying to fight the good fight for the people getting screwed by the older generations. I think I'd just dynamite the AARP.