Friday, February 13, 2009

The Boomer's Great Recession?

This is a great article on who you need to blame for all of the mess we are in.

Baby Boomers, look in the mirror. What do you see? Someone figuring out how to turn a house after two years into a 50 percent profit? Or use its equity as an ATM? Someone who borrows against his home to pay cash for that BMW in the driveway, the one he really doesn’t need? Our system of politics and business encourages self-serving irresponsibility by rewarding it.

Yup the bailouts are all for companies that set themselves up for failure because they wanted another 1% extra on their supposedly AAA+ rated debt. All of the mortgages bailouts seem to be tailored for people that bought too much house for their income and did not save enough for a crisis. There were just too many 40" plasma TVs for the toilet, granite countertops, and people living like they were millionaires all on credit. I also like how this article has an actual call for change that I can believe in.

Start change by ridding the language of the word “great,” discard it along with “awesome” and all words associated with the Dr. Spock syndrome. Revive the language of the generation that won WWII. Restore humble words such as “grit,” “integrity,” “diligence,” “honor,” “responsibility,” “sacrifice” and especially “accountability” to the social vocabulary. Let Boomer hyperbole vanish along with the merchandise the scavengers fled with when The Great Indoors finally closed.

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