deskthority

Boomers...

koralatov wrote: *we’re* the ones who are going to have to pay for the long retirements the Boomers awarded themselves whilst simultaneously trying to dig ourselves out of the debt hole *they* created for us.

I don't disagree with anything you've said, but the next generation will blame us too not applaud us. If you look at national dept per person it's... quite scary.

dirge wrote:I don't disagree with anything you've said, but the next generation will blame us too not applaud us.  If you look at national dept per person it's... quite scary.

I don’t expect applause by any means, but hopefully a little understanding.  The major difference between our generation (Y) and the Boomers is that nearly all of the debt we incurred is at least somewhat privately held — student loans instead of grants being a great example of this.  In terms of what we’ve extracted from the State versus previous generations, we come off looking pretty good.

When you start looking at *private* debt, however, it paints a pretty bleak picture.  As a generation, we were pretty thoroughly hoodwinked into accepting rampant consumerism as a viable way of life.

[I was fortunate enough to avoid most of these egregious excesses when I was young and stupid enough not to know any better, but I have friends who weren’t as lucky.]

I think I was lucky having my.late teens / twenties during a massive amount of money being thrown around.
9-11 and Greenspan meant I got paid well lived like a king and had loadsof fun.
Only regret is not picking up houses for less than the price of clacks!
...yes Newcastle houses were sold for £1 when I was younger (bad areas mind)