Sunday, September 13, 2020

The Generation That Is Rioting Today Will Be The Generation That Will Target Boomers And Their Wealth

Zero Hedge: The Millennials Are Coming For The Boomers' Money: One Bank Sees Generational Conflict Breaking Out This Decade

Late last week, we published the executive summary from Jim Ried's latest must read long-term asset return study titled "Age of Disorder" in which the author makes the case that Economic cycles come and go, "but sitting above them are the wider structural super-cycles that shape everything from economies to asset prices, politics, and our general way of life" Having identified five such cycles over the last 160 years...

* The first era of globalisation (1860-1914)
* The Great Wars and the Depression (1914-1945)
* Bretton Woods and the return to a gold-based monetary system (1945-1971)
* The start of fiat money and the high-inflation era of the 1970s (1971-1980)
* The second era of globalisation (1980-2020?)
* The Age of Disorder (2020?-????)

... Reid thinks the world is on the cusp of a new era – "one that will be characterised initially by disorder."

Read more ....

WNU Editor: About a year ago I gave a presentation to a business group in Toronto on how scared the Millennial and Zoomer Generations were when it came to their economic future. I had did a personal survey of kids from families that I know, and the results were sobering. From their point of view well paying jobs were scarce. University and other debts were crippling. Rents and the cost of living were sky-high. And the prospect of buying a good home was next to impossible for most. And forget about saving money. But what really irked them .... correction .... made them incredibly pissed-off .... was when I pointed out the enormous debt burden and obligations that governments have accumulated over the years that will now fall on their generation to pay-off. My girl-friends two daughters are 21 and 24 years old, and their politics and views are being shaped with what they are living through right now. And they are not happy with the future that they are seeing, even though they are far better off than most of their peers. The youngest one has especially become radicalized, and has zero interest in listening to me on why these views will eventually damage her. And this was all before the pandemic!!!! For the moment the Millennial and Zoomer Generation do not have real political power. But when they do .... and that day is rapidly approaching .... there will be a reckoning.

Update: Here is a revealing collection of mugshots from those who have recently been arrested in New York City for rioting .... NYPD releases mugshots of alleged rioter Clara Kraebber, comrades (New York Post). These Millenials come from affluent families, but they have become radicalized to the point where they now just want to spread mayhem and destroy the system that has educated and provided for them. From their point of view they have no future, so let us then overthrow the system to have one. For the moment these people have been bailed out and will face the court system. But here is the scary part. It will be people like this with these views who will be running the country in 20 years.


Anonymous said...

Your 401K is on their radar.

Anonymous said...

I disagree with your premise about Millenials from affluent families, and why they are radicalized and destroying property. For one, it's quite common for the affluent to have far-left revolutionary beliefs. Both Karl Marx and Che Guevara came from well off families and/or had opportunities not afforded to most in their respective societies.

The problem with these particular Millenials, and why it is so common for them to be from affluent families, is that they "did not earn that" to paraphrase Obama. What I mean is that they've been given privilege because of the status and wealth of their parents. There is no sense of value for hard work, earning an honest dollar, etc. because everything has been given to them. The consequence of that is by virtue of never earning something they have been robbed of a sense of purpose and respect for themselves. Their rebellious attitude towards society becomes a projection of their feelings towards their own parents not instilling meaningful purpose, and their wanton destruction and abuse of others and their possessions is reflective or their lack of value due to not having earned anything themselves.

Anonymous said...

"University and other debts were crippling."

I wouldn't be so crippling if they were graduating with Science or Business degrees,so they could get jobs to repay their student loans, but these young fools are going into debt studying "African American Studies" or Psychology, or other foolish money wasters that will not make them a dime after graduation.

War News Updates Editor said...

Anon 10:42
On my update I did say that those who were arrested in New York City were from affluent families. But in the past three months I have noticed that most who were arrested/wounded/interviewed on TV/etc. were not. In my own case before the GF and I became a couple she and her daughters suffered a lot. Nothing was given to her daughters. They earned their way. But the youngest one is clearly not happy. Their friends are also like that. They are all middle class. Have part time jobs. Going to university. But BLM/defund the police/socialism/etc. .... they are all vested into it.

Crusader said...

'In your twenties, you complain, in your forties, you explain.'
For many of the younger generation, this is their first experience of hard times - they've lived through 12 years of boom times.
So of course, it hurts.
As I say to the kids I know, if you want a degree, then get one. But use your brains and get a position outside of the big cities.
Because, as I explain to them, you will forever be going backwards and suffer from status anxiety when you can't get the life that you think you deserve (social media doesn't help).
I'm secretly hoping my kids will be engineers or get a trade.

War News Updates Editor said...

Amen to that Crusader.

Anonymous said...

WNU I think you're spot on. People just want to paint the demonstrators as radicals. But I know from own experience how difficult it can be to find a job, even for the highly educated. You may give up after 200-500 applications. We are all human. And at one point you break the silence of shame and talk about it. It's not just people are realising that once you're out of the system eg unemployed for 6 months or longer, you have to be a wizard of luck to get back in. It's not that the system is entirely flawed , I believe in capitalism and meritocracy, but it's very much tilted towards favouring the ones "in the system". Doubly so if there's s pandemic going on and the job market shrunk AND supply of workers has been rising steadily. People need to see what it's like to be long term unemployed, how harsh and unforgiving the system is then. And I bet many, many if those protesting are in those conditions right now and have been so for a good year beforehand perhaps. The unemployment statistics do in many states and countries, like the USA but also UK and other European nations, not include those who "have given up" as they phrase it. Those are long term unemployed people, in the USA maybe 10 million or more, who had nothing before the Wuhan virus/CCP virus/ China virus/ or politically correct Covid-19 bioweapon hit.
They're pissed. I know, I'm one of them. Did all the right things. Multiple (STEM) degrees. Prestigious universities. Debt spiral.

They are not only dumb Antifa guys, they are the minorities, disenfranchised. And the longer this goes on, the more radicalised they become. And China knows that.

The biggest wealth transfer in the history of mankind is happening right now. Their branding "build back better" and those in the streets are just"anarchists ".

It's like not being honest about radical Islam. The people in the streets are the ones our system doesn't work for. They don't hate America. They hate the system. And China will double down on exploiting capitalism's and Democracy's/ open and mixed society's weaknesses in the US and Europe.

It'll get worse, I think. And people need to -quickly- address these issues and decouple from China. We are at war, judging by what they were willing to do so far.

Mike Feldhake said...

Two of my kids went technical college route; have jobs and saving money. My middle child is just starting college, out of the Navy by 6mos, but has a plan, has $$ and will make good money once she is working. There are plenty of jobs out there if you take the right approach, you will be successful.

Anonymous said...

Mike agreed. Eventually people find a job. But the 5-10% who just don't, and believe me they exist, get very disappointed because from their perspective they've fine everything right. And if you're intellectually honest, our system is flawed and there's collateral. It's just that the collateral now coordinates and is not accepting your narrative. They know they've tried, they know the system works for you, they know you believe in it, but unless you've seen it yourself, how a market almost has an immune reaction to anyone not in the system, you'll remain ignorant in this regard. And that's dangerous. Bigotry exists also among the employed and fortunate. More often them we care to admit.

Alex said...


Also, to add to your comment many Millennials and younger hold an absolutely apocalyptic view on climate change and heavily blame the capitalism and greed of the baby-boomers for it. I think this adds a lot of fuel to their fire in the sense that they see the environment, animals, and humans under an extinction level threat, and even rational people will support some pretty radical forms of redress if that is their understanding of the world now or in the near future.

But I think you're spot on in what you see and I see it all around as well.

Anonymous said...

" These Millenials come from affluent families, but they have become radicalized to the point ..."

Mass media pols and Academia.

A lot of the blame is academia.

Mizzou professor charged with assault for protest confrontation

Melissa Click is not an abberrraiton.

Anonymous said...


Your narrative is short on case examples and statistics to back it up. You use the percentage sign (%) and throw around some numbers (5 & 10), but that is all.

You can say any process will have process fall out. An industrial engineer will believe you, Now prove that the process fallout from t the current system is more than with a communist system. If you assert that communism has full employment, then see sentence one of this
paragraph (repeat a grade).

Clara Klaeber is not discriminated against. She is a spoiled child. I am not blaming the parents necessarily. I would actually blame the teacher some too. I remember having discussions with my father over what the 4th & 5th grade teachers aid about 'waste', planned obsolescence, and unions. Obviously, those grade and middle school teachers who went form college to teaching, were teaching more than reading, writing and arithmetic. They were teaching their rather bigoted (narrow minded for a rather narrow set of experiences) values.

The media is just as bad as the teachers.