BlackRock President R Kapito isn't gaining much favor after his recent comments slamming an entitled generation as he calls it who has been able to walk into a store and buy whatever they want but those days are over he says.
It's a heated blame game between millennials and boomers on who caused more damage, who had it easier, who is mostly responsible for the state of things now.
Oh, millions of Americans are struggling to afford a home even though they have a degree or a good job? It MUST be that they are lazy then, it couldn't be any issue with the market. Don't even question for a second whether or not the real estate market might be a tad bit overvalued. Never mind loss in purchasing power or wages not moving along with inflation, coercion by central forces that twist and manipulate supply chains, currency, and the market supply, no no it's just that everyone is so lazy and entitled, you see?
In response to that article coming out about what the president said on this so called "entitled generation" it generated some great responses. People struggling right now just to survive don't have much patience for a multi-millionaire who just insists that they are 'too entitled' and need to suck it up whatever struggles they might endure. Yes you might even hear these individuals say this while they hypocritically themselves take actions that make the situation worse for others and make it harder for them to live and afford basic needs like shelter.
It isn't uncommon to see those who have a lot during these times turn to those who are struggling and suggest they take the bus, eat more lentils, buy an electric car, or simply just work harder.
Talk about cold and out of touch with the average working individual or family.
They say we are "entitled" while demanding we fund social security, Medicare, the military-industrial complex, and bloated bureaucracy while facing potential stagflation that will make the 1970s look like a walk in the park. But they have nice stock portfolios and high property values, so we must be lazy.
And the best part is that the current generation is probably financially better informed than the older one, because they have to.
The current generation is practically coerced to invest in other things than a savings account to keep their standard of living stable because the median wage does not increase as much as the expenses.
I don't mean to point fingers at anyone, I'm not trying to find guilty parties because I don't see how that solves any problems, but let me tell you I was very shocked reading this. One thing is to think it and another is to say something like that, the guts, completely unnecessary comment.