Quotulatiousness

July 29, 2011

Boomer bashing: how the idea evolved

Filed under: Economics, History, Media — Tags: , , , , , , — Nicholas @ 10:20

Frank Furedi looks at the evolution of the “bash the boomers” meme, and how it differs from more traditional generational conflict:

Gone are the days when the baby boomers were perceived as the personification of a relaxed but enlightened 1960s live-and-let-live lifestyle.

This cohort of people, generally defined as those born between 1945 and 1965, are globally pathologised as the source of most forms of economic and environmental distress. Constantly accused of living way beyond their means, the baby boomers are blamed for depriving the young of opportunities for a good life. They are condemned for thoughtlessly destroying the environment through their mindless pursuit of material possessions and wealth, as well as resisting change, hanging on to their power and preventing the younger generations from progressing.

[. . .]

The idea that ‘it’s all their fault’ captures the intense sense of cultivated immaturity of the parent-basher. A sentiment that is usually associated with the intellectual universe of a truculent five-year-old is now embraced in earnest by biologically mature generational warriors. Paul Begala’s Esquire article ‘The Worst Generation’ captures this sense of uncontained resentment. ‘I hate the baby boomer’, he wrote, concluding that ‘they’re the most self-centred, self-seeking, self-interested, self-absorbed, self-indulgent, self-aggrandising generation in American history’.

[. . .]

The guilt-tripping of boomers is underwritten by an unusually philistine interpretation of the way society works. The 18th-century Malthusian obsessions about natural limits has been recycled as a warning to human ambition. From this standpoint, resources are fixed and the consumption of one generation reduces what’s available to the next. Accordingly, the flipside of boomer wealth is the poverty of the generations coming of age today. Catastrophic accounts of how young people have been deprived of opportunities for a comfortable life have fostered a cultural climate where the moral status of the elderly is continually questioned.

[. . .]

One of the most distinctive feature of the denunciation of the baby boomers is that it lacks any hint of a future-oriented idealism. It is principally driven by a sense of resentment against a generation that apparently had a really good time.

Instead of tackling the question of how to create a prosperous future, anti-boomers are more interested in gaining a larger slice of the wealth created in the past. Baby boomer self-indulgence pales into insignificance in comparison to the low horizons of their unambitious critics.

Never has the term ‘rebels without a cause’ had more meaning than today. At least Bazarov’s nihilism was in part motivated by the cause of ridding Russia of its feudal autocracy. Even the Lost Generation of the inter-war period were responding to a very real event that shaped their existence. Today’s anti-boomers are freed from the burden of a cause to fight for. As Tyler Durden remarked in the 1999 film Fight Club: ‘Our generation has had no Great Depression, no Great War’, before adding that ‘our depression is our lives’.

May 13, 2011

QotD: The financial legacy of the Baby Boomers

Filed under: Economics, Quotations — Tags: , , , , , — Nicholas @ 00:05

Greg Mankiw links to a WSJ piece about our negative bequest to our children. It’s a point I’ve made many times myself (and am sometimes accused of bashing the elderly because of this). A good quote from the WSJ piece:

     [R]egardless of how much they have contributed, the hard reality is that the federal government has already spent it. No matter how deserving they are, it is younger generations of workers who have to come up with the money.

It is morally wrong to force young people to make good on false promises made before they were even born. It is an outrage, a scandal, a shame on our society. A society that invests in the old at the expense of (actually, to the large detriment of) the young cannot survive. A caring and kind society cares for the weak and elderly and helpless; a dynamic and just society allows the young to grow and prosper on their own merits. If America is to prosper as a nation, the young must be given room to build families and careers. To build lives, without the onerous, crushing burden of debt run up by their forebears.

Never mind questions of ethics or “fairness”: it’s just math. The numbers do not, cannot, and will not ever even up, no matter what accounting tricks the government uses. Until we fundamentally change how the Big Three entitlement programs (SS, Medicare, Medicaid) work, we will continue to load up our young people with a crippling load of debt they had no hand in accruing.

“Monty”, “A hot cup of DOOM!, no cream, no sugar”, Ace of Spades H.Q., 2011-05-12

April 19, 2011

Things that keep on rising in price … like healthcare costs

Kevin Libin points out that Michael Ignatieff may have been even more accurate than he himself realized:

The politicians are finally talking about it, but if you listened to what Mr. Ignatieff said during last week’s English-language debate, you might have found yourself feeling a bit depressed. Perhaps because the Liberal leader effectively argued that if Canadians wanted to keep getting decent medical treatment, they were going to have to learn to live without lots of other things.

“This comes down to a moment of choice,” Mr. Ignatieff intoned. Canadians could either vote for personal income tax breaks, planned corporate income tax cuts, new equipment for the Canadian Forces, all promised by the Conservatives, or, he said, “you can support health care.”

To be accurate, he used language that was far more politically loaded (“multi-million dollar expenditure on prisons … big gifts to upper-middle class Canadians”), but his message was the same: affording public health care means sacrificing other possible priorities.

There’s certainly much to suggest he’s got a point.

If our healthcare costs keep rising, unbounded by any kind of cost control, it will either consume the economy, or cause its collapse. And, of course, the large number of soon-to-retire Baby Boomers are about to need much higher health spending as the natural aging process starts taking its inevitable toll. Fun times ahead, folks.

Already, nine out of 10 provinces spend the majority of their own source revenues (which excludes federal transfers) on health care, according to the Fraser Institute’s report “Canada’s Medicare Bubble.” Only Alberta is just barely under 50%; Nova Scotia spends 88%.

With all the good will in the world, the government can’t keep increasing their healthcare spending . . . they’re almost out of money already.

September 28, 2010

Most self-indulgent generation now also most suicidal?

Filed under: Britain, Media, USA — Tags: , , , — Nicholas @ 12:06

Baby Boomers. It’s always about the frickin’ Baby Boomers isn’t it? Even if according to demographers I’m supposed to be one of them, while your prototypical Baby Boomer was indulging in free love, drugs, and all the other 60’s behavioural abberrations, I was in primary school. I have never identified with that group, and I’m often struck by how self-regarding members of that demographic can be.

Well, perhaps after a life of unparalleled opportunity, wealth, leisure, and general wallow-in-it-ness, Baby Boomers are starting to retire . . . and also killing themselves in numbers not seen in previous generations:

“As children, the baby boomers were the healthiest cohort that had ever lived, due to the availability of antibiotics and vaccines,” Idler says. “Chronic conditions could be more of a rude awakening for them in midlife than they were for earlier generations.”

Given the contrast between the Boomers’ passage through life and that experienced by their parents, one might suggest that they simply brace up a bit and get on with it. This might, however, be bad news financially for the following generations who are already saddled with the task of paying for the Boomers’ wastrel stewardship of the global finances, prolonged and luxurious retirements, hip replacements and various other costs and expenses.

It may be, as we look back from a more austere future in which the retirement age has been raised to 85 or so and the elderly — far from guzzling pina coladas on cruise ships whilst simultaneously occupying badly-needed residential property — are compulsorily relocated to robot-staffed retirement homes, that we will regard the Boomers as the jammiest generation ever to have lived. Their apparent propensity to top themselves out of drug-addled foolishness, in a tantrum at the “rude awakening” of middle age, or simply like mindless sheep because they have seen others do so, will be all the more puzzling.

November 27, 2009

Cars for an under-served market: aging boomers

Filed under: Humour — Tags: , — Nicholas @ 12:14

Jim Shea looks at the design innovations needed to serve the new growing market for appropriate vehicles for aging baby boomers:

What is missing is a vehicle specifically designed to accommodate baby boomers and their ever evolving driving needs.

The car I have in mind for this huge block, the Coupe de Coot, would include the following characteristics:

Size: The older people get, the larger the vehicles they prefer. If Buick made buses, you wouldn’t be able to get a parking spot at the senior center. The Coupe de Coot would make a Hummer look like a Mini Cooper.

Windows: They would be large and wrap-a-around to afford excellent visibility in all directions at all times. Also, the glass would automatically tint after dark to produce a night-vision goggles effect.

Turn signals: The interior indicator lights would be the size of frying pans, flash like emergency strobes when engaged, be accompanied by a Big Ben-level bonging sound, and automatically turn themselves off after an hour.

H/T to Kennedy How for the link.

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