We should look very harshly at the American legacy that the Boomer Generation is about to set down. A generational legacy can be considered as the difference between what was present for the generation in youth, and what the future appears to promise when that generation is mature.
Using this measure, the Boomer Generation has failed, and we all will reap the whirlwind from this legacy.
We have absolutely lost any heritage of thrift that we once had. The Boomer Generation has eaten up all the investment money, the seed corn. In 1978, Americans saved 11% of their gross income. By 2005, it had gone to nothing; we spent all we had earned.
In 1978, the US was a net lender to the world; now, we live on a weekly and monthly basis dependent on China’s willingness to lend us money on increasingly doubtful ability to repay.
In 1978, we spent money in a bitter arms race against a formidable enemy, the USSR. Now, we have no equal, and spend the amount of money on “defense” as the rest of the world combined.
In 1960, the civilian manufacturing sector provided 30% of the GDP – nowadays, non-military manufacture is negligible, and FIRE (finance, insurance and real estate) is responsible for 40% of our “GDP.” It is a sector that produces nothing but the dance of dollars.
The inheritance we have passed off to our children is vastly diminished over what the Boomer Generation was given. It was told in its youth that it was the Generation of the Blessed – and it believed that nonsense.
If generational warfare comes to America, whether in a cold or hot war, it will be ugly. The Millennial Generation is given little but the bill to pay; and no good reason for it, other than they were late to the table.
The Medical Care we have to hand off to the Millennials is awful. The plan is to model tomorrow’s American healthcare on today’s in Guinea-Bissau and Togo, internet-style; look up your own healthcare problems on line, and buy the remedy from the Internet pharmacy – over the counter, of course.  That’s how it works in Ougadougou – why not here?
The aging Boomers will, between bites of their dessert, insist that they did not know the future – they did not know it would turn out this way. Perhaps literally; but the direction was clear and obvious, and aided with intent.
Although closer to being a Boomer than a Millennial, my sympathies are for the latter. I am ashamed of the legacy of the Boomers. It could have been so much better.

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