Alright this is more of a 'based on a true story' story rather than actual facts. Just some general musings that were running through my head last night. I know there are massive generalisations but its hard to avoid with a generational topic.
The baby boomers have seen probably the greatest change than any other generation. I'm going to talk about mainly a financial and societal viewpoint, leaving out technology for the most part.
Apparently the BB's were supposed to be the generatiopn to bring the World into a new age (which they did, just not how their parents would have predicted i bet). Throughout their generation they have brought the financial world to the brink many times and yet have done nothing to actually solve any of the problems they created. They saw (and profited from) one of the biggest increases in asset values ever, from property, to stocks and commodities, mainly due to easy credit.
In the late 80's when they were younger and more reckless rampant speculation nearly bought the market undone.
Fifteen odd years later they then started betting on te next generation and again this speculation bought about the tech crash.
Late 2000's saw CDOs and MBS bring the financial world to a standstill yet again. While they did not create these products, it was the boomers who had moved to higher positions within the corporate world and either didnt understand what was happening, or turned a blind eye to it in order to profit.
Now we enter 2010's, BB's have been in corporate and politcal power for approximately 10 years and what has changed since 10 years ago?
Specifically here in Aus:
Roads/traffic are the same/worse than 10 years ago
Health care is the same/worse than 10 years ago
Mental Health is worse than 10 years ago
Fuel prices are similar to 10 years ago
Power/Electricity prices are worse than 10 years ago
Food prices are the same/worse than 10 years ago
About the only thing that has actually improved in the last 10 years is access to cheap electronic gadgets.
It seems to me that we as a society have plateued due to the BB's selfishness that they have carried with them throughout their entire generation. They made their fortunes on the back of huge asset price increase, which are unlikely to be as broadly seen again, and now they patrol the halls of power they are happy to keep the status quo and have very little sense of altruism/forward thinking about them.
Would be interested to discuss, as i said, i know there are a lot of generalisations but the main point i want to put across is in the last 10 years very little has changed for the 'standard' person, which indicate to me, progress is no longer being made as a society.