Young People Finally Starting to Recognize the Super Rich and Not Oldsters Are the Problem

 Young People Finally Starting to Recognize the Super Rich and Not Oldsters Are the Problem

Now to the Financial Times sighting, that the young are finally realizing who their real enemies are.

When millennials first emerged, blinking, into the adult world in the 2010s, they quickly bonded over shared adversity….

It was a grim decade, but at least they had each other, and were united against a common foe in the shape of the wealthy, homeowning baby boomer generation…

as the targets of millennial ire increasingly recede from view, they may soon be replaced by another privileged, property-owning elite much closer to home: millennials who have benefited from family wealth….

In the UK and US alike, the average millennial had accumulated less wealth in real terms by their mid-thirties than the average boomer at the same age. But this aggregate picture obscures what is happening at the top end of the distribution.

In the US, while the average millennial had 30 per cent less wealth than the average boomer by age 35, the richest 10 per cent of the cohort are now about 20 per cent wealthier than their boomer counterparts were at the same age, according to a recent study by researchers in Cambridge, Berlin and Paris. Not all millennials are created equal.