Yes, the Baby Boom Generation was indeed "The Worst Generation" (not everyone in it, but the generation as a whole).
A generation of greed, me-ism, over-spending, debt and not a care in the world about future generations. A generation who has taken the US to the brink of insolvency while awarding themselves massive entitlements, and a generation who is unrecognizable from the one immediately proceeding it - The Greatest Generation, who scrimped and saved, saved the world, and planned for tomorrow.
Amazingly, the Boomers even figured out a way these past few years with the housing bubble to transfer wealth from their kids and their kids kids to themselves. Uh, didn't that used to be the other way around? And since "you can't take it with you" what do they do? They go on a greed-filled pleasure spending binge, making sure they indeed don't take it with them.
Man, there's going to be an epic battle soon between Baby Boomers and Gen X / Gen Y. Once Gen X / Gen Y wake the f*ck up and figure out that the Boomers stole all their money and spent it. The Boomers didn't save for their retirement, so what did they do (led by Boomers Greenspan and Bush)? They artificially inflated the prices of their homes, and will live high on the hog off of the proceeds. Just in the nick of time wouldn't you say?
There's only one way to solve this latest raid by the Boomers on Gen X / Gen Y: don't buy any damn houses from the Boomers! And as soon as we get into power, take on Social Security and Medicaid/Medicare with a vengeance. We just can't afford it.
On housing, if (like in Japan) the younger generations figure out the scam, and stop buying houses from Boomers and start renting, prices eventually come back to reality, and the Ponzi Scheme ends.
Here's a classic series from Canada on the plight of Gen X - the first generation that will be worse off than the one before. And here's an article on the housing mess in England with a generational view.
It'll be interesting to hear your thoughts - let the Boomer/GenXY battle begin.
