are Baby Boomers the worst generation ever?

[crazyquik]

Are the Baby Boomers the worst generation ever?

Paul Begala called them "the most self-centered, self-seeking, self-
interested, self-absorbed, self-indulgent, self-aggrandizing generation in
American history."

The Greatest Generation gave them the world (well, the free world) on a platter. What will be left for our generation, except the bills and failing social systems? Not only health care and the social security they will directly consume, but the government largess they either authorized as politicians, or pressured politicians into approving because of their large demographic size.

America was a leading industrial nation before the boomers, and our recent technological greatness has mostly been made by post-Boomers. They have given us great mis-management of American corporations though

The most recent example is playing out before our eyes. Hank Greenburg built AIG over decades, and it was destroyed in a few years (or a couple dozen months) under the guidance of a Boomer.

 

[FidelCashflow]

spend 5 minutes watching MTV and you'll think otherwise...

 

[Piobaire]

I personally think they are the worst generation. I do not think it is all their fault however. Due to structural reasons, the belief that they were "special" was constantly reinforced, so that by now, they have all had 50 years of positive reinforcement in the conceit that they are indeed the most important generation.

By this, I mean the sheer size of this generation, forced structural changes, so it appeared that they were being catered to intentionally. The school system had to greatly expand to accommodate them. Then the prosperity of the US allowed for the flower generation. When they started settling down, we had the 70s, disco, key parties, etc. Currently, politicians are ramping up to **** the country to pay for the BBs retirement. At every step, the size of this generation has set social and political trends that impacted society.

 

[dexterhaven]

Originally Posted by FidelCashflow

spend 5 minutes watching MTV and you'll think otherwise...
Well, it could be argued that the fools you see on MTV are merely the inevitable products of the baby-boomers' over-indulgent and profoundly stupid parenting techniques.

 

[crazyquik]

Originally Posted by FidelCashflow

spend 5 minutes watching MTV and you'll think otherwise...

Boomer parents

And what's good about Gen Y can be based on our reaction against the Boomers, divorce, latch key kids, etc. I've noticed a lot of people in Gen Y seem to look up to their grandparents more than their parents (and more than their Boomer parents looked up to the Greatests).

 

[FidelCashflow]

Originally Posted by crazyquik

I've noticed a lot of people in Gen Y seem to look up to their grandparents more than their parents

I've noticed most of them look up to 50 Cent.

 

[gorgekko]

I would line every member of the Baby Boomers against a wall and slaughter them. I've had enough of these cultural locusts to last me two lifetimes.

 

[lee_44106]

They suck.

Not a lot of things hurt them. I hope all this financial market meltdown hurts them.

Alas, it acutually hurts the Gen-Y more, in the form of 700Billion bailout to subsidize the Bab Boomers.

 

[gorgekko]

Originally Posted by lee_44106

They suck.

Not a lot of things hurt them. I hope all this financial market meltdown hurts them.

Alas, it acutually hurts the Gen-Y more, in the form of 700Billion bailout to subsidize the Bab Boomers.

And that is the recent history of the world, isn't it? These locusts ravage the land, act sanctimonious about it and screw every generation coming after them.

 

[Mr T]

I love the greatest generation folks I know. I understand my own generation (Gen X). I have hope for the Gen Y folks - I have mostly been impressed with them.

However, the boomers are horrible. A cultural and financial disaster without any concept of self sacrifice.

 

[Star]

Pfft I think this is a lame argument coming from the ‘me me’ Gen Y camp who are for the first time being exposed in their young lives to a serious economic down turn after having it so good since they can remember.

Historically those who wear the brunt of a social crisis look to the ‘class’ or ‘generation’ in their society who seem to have made it in terms of material wealth. I don’t see this to be any different to the arguments of Gen Y. Is the solution then maybe to forcibly seize the assets of Baby Boomers because it is not fair to Gen Y!? I dare say not! (unless of course we want to revert to a Communist society?)

Gen Y-ers have no grounds to cry that they are now the poor victims of the Baby Boomers. If anything this is the generation to watch out for raised on ‘good times’ and who taught themselves that life is all about ‘me me me’. In all of this turmoil how many of these Y-er’s were all too happy in their cushy finance jobs all while the bonuses were rolling in? How many more can claim to be unhappy with the ‘paltry’ hourly rates they demand in the Tech Industries? Many of the comforts material advances of the last 30 years that Gen Y today takes for granted was built by the Baby Boomers.

I was born on the cracks of X and Y. I have no interest in defending the Baby Boomer other than to say my folks worked very hard for what they are worth and I know my life has been easier than their’s. They deserve every penny they got because they worked for it.

The Baby boomers will eventually dissapear and I can gurantee that they will not be able to take that wealth with them. The wealth of the Baby Boomers will therefore have to at some point naturally trickle down.

I believe the worst is still to come......

 

[NorCal]

Originally Posted by crazyquik

Boomer parents

And what's good about Gen Y can be based on our reaction against the Boomers, divorce, latch key kids, etc. I've noticed a lot of people in Gen Y seem to look up to their grandparents more than their parents (and more than their Boomer parents looked up to the Greatests).
Funny, I look at Gen Y, and pretty much lose hope. I actually think that the Boomers are one of the most misrepresented generations.

 

[Piobaire]

Originally Posted by Star

The Baby boomers will eventually dissapear and I can gurantee that they will not be able to take that wealth with them. The wealth of the Baby Boomers will therefore have to at some point naturally trickle down.

I believe the worst is still to come......

No, they can't take it with them. But they will liquidate it as they age. Now ponder: they are undeniably the wealthiest generation. As they liquidate assets to fund their old age, flooding the market (as they outnumber any other age cohort), what happens? Why, the assets they are liquidating will decrease in value, right? Unless, of course, demand for them goes up. Now, where could this demand come from? Foreign shores. So assets will transfer from the BB's to off shore interests.

Not entirely my thesis. Blame Jeremy Siegel.

 

[Star]

Originally Posted by Piobaire

No, they can't take it with them. But they will liquidate it as they age. Now ponder: they are undeniably the wealthiest generation. As they liquidate assets to fund their old age, flooding the market (as they outnumber any other age cohort), what happens? Why, the assets they are liquidating will decrease in value, right? Unless, of course, demand for them goes up. Now, where could this demand come from? Foreign shores. So assets will transfer from the BB's to off shore interests.

Not entirely my thesis. Blame Jeremy Siegel.

Hmmm the whole thing about liquidating assets is true but not sure to what extent you can assume it will go offshore. There isn't much to stop 'offshore' interests buying up assets or large chunks of equity in companies at the moment unless of course its perceived a threat to the national interest. (However that term as you probably appreciate only covers things like defence and some natural resources) They do not need to wait for a boomer to drop dead.

I cannot help but to think that 'managed' economies like China, India and some of the Middle East states are now having the last laugh. When they say that they refuse to float their currencies, or refuse entry of multinational companies they are doing so for a reason. Theywill typically give something like the current financial meltdown as an example. Can you blame them?

 

[fatty]

Two perspectives on baby boomers: Frank Turner: The Herd: Long Lunch (I couldn't find a youtube for this song)