Amerika

The USA, UK and USSR won WWII. The USSR went on to ideological suffocation, but the UK/USA were based on the same model: accumulation of personal wealth to overcome social caste distinctions.

That attitude produced the most spoiled generation ever, the Baby Boomers.

The children of early Baby Boomers, born in the 1960s when said boomers were in their 20s, now face an ugly reality:

• Their parents, selfish and improvident, have partied away their lives and now need supporting.
• Their children, selfish and improvident, are delaying getting their own lives started.

Why would the children be as wasteful as their grandparents? The same reason: while the great gold rush of capitalist expansion was on, they were ignored and bought off with gifts. Worse, society’s decayed so much their prospects are very minimal anyway. So they rely on their parents.

So much damage from a single generation — the Baby Boomers — as it trickles down to the rest of us.

Figures for The Daily Telegraph reveal that a typical Babygloomers – defined as someone who is having to support both their children and their parents – will forego more than £100,000 of their own pension pot by helping their parents financially in retirement instead.

The figures, calculated by wealth managers Hargreaves Lansdown, suggest that a 45-year-old who gives £250 a month to their parents instead of putting into their pension pot, will lose out on £104,007 by the time they reach 65.

That separate research, carried out by Norwich Union, revealed that 1.3m adults aged between 17 and 65 are paying their parents more than £250 each month, with many paying up to £1,000.

The Telegraph

These figures are from Brokeback Island but it’s likely this problem is just as present in the USA.