We’re on the Verge of the Greatest Transfer of Wealth in the History of the World screams the headline. With wealth inequality making headlines all over the news and being a talking point of the Democratic party one cannot be blamed for making the assumption that the article will be about that subject. Wrong.
The article is about the fact that the Baby Boomer generation is reaching the end of their lifespan and their wealth is passing on to their heirs. This large amount of money will transfer largely from parent to child. That’s the entire article. It’s such an obvious headline troll I couldn’t leave it out of my Misleading Headline of the week series even though it’s only Monday.
Even at it most raw form I’m not sure the headline is even true. While there is more currency in circulation now than at any time in the history of the United States I’m not sure that translates directly to wealth. I suppose it is probably true as there are more people and that means more people will be dying and passing their money on to their heirs.
Still, it’s an awfully misleading headline and a rather dull story at that. Don’t bother reading it. Just head on over to my Books Page and transfer your wealth to me $2.99 at a time!