CNN recently reported that older Americans have more money than younger Americans. The Wealth Gap between the young and old has increased to a 47-1 difference.
While the article points to various causes, such as older Americans having bought their homes before the housing bubble and more younger people going to college, there is no "one thing" they use to explain this disparity.
In 1984 older Americans were worth only about 10 times more than younger Americans. The one thing the article seems to miss completely is the people who were in the under 35 age range in 1984 were most likely raised by parents that had been raised by their parents with a value system that did not waste. Savings were valued. Working hard for your money and goods was valued. A strong work ethic was valued. Young adults during that time were completely different than the young adults of today.
My mom would have been in her mid -thirties by 1984-that means she was in her twenties for all of the 1970's. She and my dad worked very hard. They bought a home as soon as they got married. They paid cash for most every item they wanted or needed. They did not carry student loan debt and they had savings-EVEN IN THEIR 20's.
You would never see that today. The people who are in their twenties today are spoiled brats, given too much by their parents, all made winners by their school system and taught to take no pride in individual accomplishment by society as a whole. The liberal policies and PC B.S. that creeped into my generation, fully ruined the generation right after.
You can see their inability to take responsibility and their unbelievable greed in the Occupy Wall Street protests going on around in cities all over the country. What is greedier than telling one group that because you don't have something, it is up to them to provide it for you with nothing given in return? Rather than working to make a change that would give people more opportunity and more money to pay for those bills they are crying about, they are simply sitting around whining and pooping in the lobby of Bank of America. All the while, OWS is causing small businesses to close and doing nothing but directly harming those they claim to represent.