This is not an indictment of the Baby Boomers, but it is indicative of the mentality that we have lived under for the past 20 to 30 years. The Baby Boomers have always lived in prosperity and now that we are in a true recession it is interesting to see how the generation is acting.
If anyone wished to know what the baby-boomer generation would do when, in its full maturity, it hit its first self-created, big-time recession, I think we are seeing the hysterical results. After two decades of unprecedented economic growth, rampant consumer spending, and unimaginable borrowing to satisfy our insatiable appetites, we are suddenly going into even larger debt and printing trillions of dollars in paper money to ensure that someone else after we are gone pays the debt. As if the permanent solution to a financial panic and years of spending wealth we didn’t create were a government take-over of the economy in the manner we currently witness in Spain, Italy, and Greece—or the high-tax, high-spend ethos of a bankrupt California. via The Corner.
What scares me is what will be left for our children and grandchildren.