This link has been bookmarked by 32 people . It was first bookmarked on 02 Nov 2008, by harry palmer.
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06 Mar 09
Adam Crowe'Our claim to fame is living way beyond our means for the last three decades, to the point where we have virtually bankrupted our capitalist system. Baby Boomers have been occupying the White House for the last sixteen years. The majority of Congress is B
economics debt demographics babyboomers self status entitlement decadence lifestyle individualism consumerism greed ethics hubris
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14 Nov 08
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Our claim to fame is living way beyond our means for the last three decades, to the point where we have virtually bankrupted our capitalist system.
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moved up the corporate ladder by pushing paper rather than making things
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bought whatever they wanted using debt
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Over optimism, unrealistic assumptions, selfishness and conspicuous consumption have been their defining characteristics.
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The difference between now and 1928 is the huge household debt burden of Americans. This usage of debt by the poor has masked the gap between haves and have nots for the last 20 years.
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So, who is the fool in this scenario? The “poor” person got to drive a Cadillac Escalade for a period of time, the foolish banks got bailed out, the bank CEOs took home $30 million, and I lived within my means and footed the bill for the reckless actions of others. It appears that the fools are the Americans who lived their lives according to the rules.
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Based on the estimated $2 trillion of losses that our banks have generated, the CEOs certainly deserved annual pay 500 times as high as the average worker. There is no way an “average” worker could possibly be talented enough to lose $2 trillion. You would need to be truly extraordinary to lose that much.
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06 Nov 08
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05 Nov 08
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03 Nov 08
Jem Fleming"..The Baby Boom generation has one last chance to change the course of U.S. history, keep us from wrecking in a storm of debt on the approaching jagged reef and shed the title of “Shallowest Generation”.."
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02 Nov 08
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The Baby Boom Generation will never be mistaken for the Greatest Generation that survived the Great Depression and defeated evil in a World War that killed 72 million people. I hate to tell you Boomers, but putting a yellow ribbon on the back of your $50,000 SUV is not sacrifice.
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