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BlackRock CEO Larry Fink said America could dodge a ‘retirement crisis’ by encouraging people to work longer (news.yahoo.com)
submitted 1 year ago by to c/aboringdystopia@lemmy.world
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BlackRock CEO Larry Fink caused quite a stir when he suggested America could dodge its looming “retirement crisis” by encouraging people to continue working past age 65.

The billionaire, who chairs the world's largest asset management firm, kicked off his 2024 annual letter to shareholders by telling his readers it is “time to rethink retirement.”

He raised the point that more Americans are retiring and their retirements are increasing by length. This, he claims, is having a “massive impact on the country’s retirement system” — specifically the nation’s Social Security coffers, which are quickly running out of money.

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[–] 3 points 1 year ago (5 children)

Young people are blaming “boomers” (because they don’t know what that actually means)

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  • [–] 4 points 1 year ago (4 children)

    Boomers explicitly ushered this reality into existence. The young people are correct.

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  • [–] 1 point 1 year ago (3 children)

    The young people will be the new boomer scapegoat soon enough. The latest generations are not immune to propaganda and corruption from politics.

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  • [–] 5 points 1 year ago (2 children)

    What scapegoat? The enmity heaped at the feet of Boomers is absolutely deserved.

    They voted in the worst people, they took advantage of every social opportunity only to immediately pull up those same ladders behind them, they have collectively had an outsized influence on global politics and economy for 50+ years, and they are still, to this very day, hoarding resources while perched upon corporate and political ladders as implacable barriers to young, fresh leadership. They have collectively defaulted to obsessively focusing on their own material needs and wants, while stripping the futures from a minimum of Millennial (Y) and Z generations. Anecdotally, they are the least empathetic and most gullible of rubes- defiant in their ignorance and arrogant in the face of overwhelming facts.

    Obviously not every Boomer is an awful person, but as a cohort they are the worst generation in modern history.

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  • [–] 1 point 1 year ago (1 child)

    You are ignoring the propaganda and corruption these folks experienced their entire lives, in a time where media was even more tightly controlled than it is now. This generalization and attack on an age group (not mine, I'm millennial) misses the entire point in my opinion. Getting mad at boomers is not in any way helping, especially as it relates to this article. People have been fooled their entire lives and I feel bad for all of us.

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  • [–] 2 points 1 year ago

    They were "Generation Me" before anything else.

    I'm not getting mad at Boomers; I'm apportioning blame as I see it merited. Why should they be denied their own culpability?

    They could have received college educations for the price of a modest car; most chose to remain ignorant. Even now, Boomers hold pervasive views of intellectual resentment; they sent their own kids off to college, and then refused to listen to an educated word they had to say.

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