The 10 Most Important Scams Boomers Need to Tell Millennials About

There are many scams. Most of them are not new and are simply repackaged from a previous generation. Here are 10 important ones to know about.

1. Planned Obsolescence: Manufacturers' Sneaky Tactic

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Manufacturers often use the sneaky tactic of “planned obsolescence,” where they purposely design products with a limited lifespan to make consumers buy replacements regularly. This results in unnecessary waste and expenses for many smart shoppers in the appliance and tech industries.

2. Bottled Water: Costly & Wasteful Luxury

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Bottled water is often considered a big scam throughout history, as many studies show that tap water is just as good or better than bottled water. Surprisingly, nearly half of all bottled water comes from municipal sources, and companies make a whopping 300% profit by selling a natural resource in disposable plastic bottles. This has led many people to view bottled water as a costly and wasteful luxury.

3. War on Drugs: Failed & Disproportionate

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Many people consider the war on drugs to be one of the most significant frauds in human history. Although its intended purpose is to combat drug use and trafficking through law enforcement and education, it has been an utter failure, costing taxpayers billions of dollars and incarcerating many non-violent offenders. Detractors believe it disproportionately targets marginalized individuals and fuels violence in drug-producing countries. Some argue that a better approach would be to prioritize prevention and treatment instead of punishment.

4. The Simpsons Monorail Scam: Fiction Reflecting Fraud

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Another individual referred to “The Simpsons” monorail scam in their comment on the ten biggest scams in human history. The episode features a charismatic con artist who convinces the residents of Springfield to build a monorail, despite its uselessness and danger. The con artist makes off with the profits, leaving the townspeople to deal with the consequences of their gullibility. Although it's a fictional story, it comments on the real problem of fraud and deception.

5. Climate Change: Blaming Individuals, Not Corporations

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Blaming everyday people for climate change while allowing corporations and industrialized nations to avoid accountability is a significant deception. Many individuals are encouraged to make small changes, such as using reusable straws or bringing their own bags, while corporations continue their environmentally damaging practices with few consequences. This makes people feel guilty for not doing enough while corporations escape responsibility for their carbon emissions.

6. Homeopathic Medicine: Pseudoscience Scam

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A Redditor brought attention to homeopathic medicine as one of the biggest scams in human history. Despite being marketed as a natural and effective alternative to traditional medicine, this form of medicine is based on pseudoscience and lacks any scientific evidence to support its claims.

7. The Water Engine Scam: Spain's Costly Hoax

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During the 1970s, the Franco dictatorship fell victim to a massive scam involving a “water engine.” Arturo Estévez Varela convinced the Spanish government that he had invented an engine that ran on water, and the government invested millions in the project. However, it was a complete hoax, and the engine could never run for more than a few minutes at a time.

8. The Louisiana Purchase: Land Grab & Exploitation

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The Louisiana Purchase, which occurred in 1803, has been called one of the biggest scams in human history. The United States purchased a vast amount of land from France for $15 million, which was a substantial sum at the time. However, the land was already inhabited by Indigenous peoples and owned by Spain, making the purchase an act of colonialism and exploitation.

9. Indulgences: Medieval Heaven Scam

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During the Dark Ages, the church's practice during the Dark Ages of selling “tickets to heaven” in exchange for money was one of the biggest scams in human history. This practice, known as indulgences, was used by the church to raise money for various projects. People were told that buying an indulgence could reduce the amount of time they or their loved ones would spend in purgatory before entering heaven. However, this practice was widely criticized by reformers like Martin Luther and was eventually abolished by the Catholic Church in the 16th century.

10. Bank Bailouts: Controversial Economic Rescue

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Bank bailouts, which occurred in 2008 and 2023, have been controversial. Some argue that bailouts prevent economic collapse, while others believe they reward bad behavior and reinforce inequality. Many people expressed frustration that average citizens are responsible for bailing out wealthy individuals and corporations.

This originally appeared on Max My Money.

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