Oh, poor babies! I just love all the "It's the Boomers' fault!" comments, too. Let me talk about this from a Boomer's perspective, someone who has
kids who will never see 30 again. Indeed, 40 is staring them in the face. And they look like it, too. It's not only the inevitable crow's feet around
the eyes, but the extra few pounds, the knees beginning to go arthritic, and, of course, all the DRAMA over everything. In other words, back at
My parents were from the Great Generation. After enduring the Great Depression (25% official unemployment), and after beating the crap out of the
Nazis they just wanted to settle down to some peace and raise a family. Instead, they got the Cold War, Woodstock, rampant drugs, and inner-city
riots. And their kids (me and my pals) blamed THEM for all this just like you blame me now. They lived in modest abodes that a current welfare and
food stamp mom would turn up her nose at (and there were no food stamps.) They lived frugally with the expectation of a modest retirement.
But they did some cool stuff, too. They taught me how to balance a checkbook. They taught me that credit was to be used wisely, if at all. They taught
me a used car in good condition was a smart thing to do and that if I wanted my own house, the thing to do was to start small and never pay more than
I could afford. They taught me to save money. They taught me a good education meant expanding the mind, but it also meant learning something useful.
The couldn't pay for my schooling because they couldn't afford it, so I did it myself.
Just like I did for my kids. I also taught them to balance a checkbook, but it was too much trouble. I taught them about computers, suggesting of they
learned thoroughly they would always be in a superior position, but they considered them an appliance and didn't care how they worked. So I paid
private school tuition of $100K for a degree in "communications," which as far as I can tell is how to talk rapidly on a cell phone and text while
driving about innane subjects that don't mean anything. I paid another $100K for a degree in anthropology, so my kid wonders why he can't get a
"descent job" that he is owed by virtue of being a college grad. He doesn't appreciate it when I tell him it's because he doesn't know anything
So he finally does get a job, runs out and buys a house with no down payment. It has a MONSTER Master Suite, sunken tub, the whole bit. and two more
bedrooms. I suggest he has a growing family and...... Nope! Being on the lake with a speedboat is more important. So the house appreciates with the
boom and he says, "Cool!" and refinances to the hilt. He uses the money for a granite kitchen top, and even newer $120K speedboat, a new diesel truck
with a 6 inch lift, and so many goodies they can't fit in a 3-car garage. He has to lease a storage unit. He buys an old Porsche "because it will
appreciate." Then he wants a new jeep named after a video game and his wifey says, "Only if the payments don't go up," so you know what he
does--stretches them out.
The Porsche doesn't appreciate. Neither does the house. It drops in value to 50% of what he paid for it. His wife is pregnant with their fourth child
and it's too small anyway, so they abandon it and stop making payments on it. The bank eats it.
But it's "All the bank's fault!" Now it's my generation that "has pulled the rug from beneath him." It's my generation that "has all the money!" which
is quite literally true because I saved money and he didn't. Now you know the refrain: I should give him my money because he needs it and I don't.
This is also true. I have it because I lived frugally and he didn't. So he's waiting around chomping at the bit until I die and he inherits. His wife
even jokes that she wants her name on the back of the pictures on my wall she fancies. Ha ha. Very funny. Reminds me of the time his sister got mad
when I brought home a persian rug for the entry because she thought I should have used that $400 for her college expenses. (Her college was paid for
anyway.) Now I've heard hints on how they can't possibly pay for four kids' college costs...Maybe I could just pay for three generations instead of
So when I see this Entitlement Generation in therapy at 30 I just have to laugh. They can afford therapy? Me, too. In fact, I think maybe I'll buy a
brand new Mercedes or BMW 750. And I'm looking for a nice credible foundation that needs some donations. And kids. You better not lose your jobs
because there is no friggin' way you're moving back in here. If I go on a cruise I'll get a house sitter, and it won't be you. Glad you're so damned
edit on 10/28/2012 by schuyler because: (no reason given)