Monday, June 29th, 2009

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Boomers Destroyed the Economy

This was reported on the CNN show Your Money. According to some money gurus the economic collapse we are experiencing was caused by us boomers.

Apparently the thriving economy we were experiencing prior to last November was driven largely by boomers pursuing an extravagant lifestyle. Something happened last fall that made us stop being so profligate and we began being careful with our money. Maybe we all forgot to put on our tinfoil hats one day and the mother ship reprogrammed us all. At any rate and whatever the reason, our sudden caution in money matters is what really sank the economy. All over the world. That talk about toxic assets and other cool swindles was just a smoke screen.

This is a real switch, isn’t it? For years we’ve been warned that it was our out of control spending that was causing all the problems. Remember when economists were expressing grave concerns about the perils of an overheated economy and blaming it on us? Some talking heads at that time sounded positively gleeful as they told us how bad we were going to be hit when we got our reality check.

C’mon guys, you can’t have it both ways. It seems to me that our generation is doomed to being the whipping boy for all societies woes until we’ve all been planted. After that they’ll probably say the world would have been a much better place if we hadn’t screwed it up.

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