click on the title above or cut and paste here:
http://finance.yahoo.com/news/Why-Baby-Boomers-Are-Bummed-usnews-1665637998.html?x=0
To access one of many great articles on how the economy is impacting Baby Boomers.
For most, there is no boom, just a huge bust. In general they are disappointed and disgusted, they can't afford to retire and live the life they were promised. How did this happen? Glad you asked:
1 They were irresponsible in that they allowed their elected officials to consistently rob from Peter to pay Paul.
2 They enjoyed the moment without thinking of the future. Have you seen the movie "Ants?" Baby Boomers lived as grasshoppers, they were the all powerful biggest population group ever. Everyone needed to tend, or cater, to their needs - yeah, how did that work out?
3 They bought into the hype that children are ENTITLED to a better life than their parents. Of course theirs were the parents who created this myth. Having survived the 1st Great Depression, parents of the baby boomers swore that their kids would never suffer the way they had suffered during the 1st depression, so they gave baby boomers more than they had earned. This of course taught baby boomers that this is what parents do, so the baby boomers then did the same with their children.
4 They turned over responsibility for their well being to others. To the companies they worked for, to their government, to an army of financial types all of whom claimed to have their best interests at heart . . . they have now learned that talk is cheap and they should have looked over their financial well being themselves.
5 They looked the other way - repeatedly. It's impossible to mention all the times and places where, as a nation, we looked the other way because it was easier. Now, and for decades to come, we will pay the price for this.
I hold no animosity for the baby boomers, they didn't plot to maliciously harm others (and themselves in the process.) Instead they were simply lazy . . . like most of the rest of the Sheeple in the US today.
What's the answer? Another great question. We could do what this country did in the 30's and 40's - roll up our sleeves and go to work rebuilding. Honestly, I doubt that as a nation we have the fortitude to undertake and succeed with such a plan. So reality will most likely prove to be that the US, or in the future the pieces that it becomes, will drop to a second tier country and we as a mass of sheeple learn to settle because it will be easier.
Where do you see things going?
