There is a new book out by Christopher Buckley – the author of Thank You For Smoking. It is called Boomsday. For those who are interested in a detailed plotline you can find it on Amazon with a few reviews as well. The novel is set in the near future as baby boomers are retiring. It satirically chronicles the upcoming war between the two generations – the baby boomers and their offspring who will have to foot the bill for their glory years. Although somewhat lighthearted in nature, the book takes a look at a problem that is being ignored and scares the hell out of me.
The Baby Boomers – the progeny of the "Greatest Generation" have less than great at carrying on their parents' moniker. This generation fought for social reform and lived through the one of the most prosperous times of our country's history, but managed to jeopardize their own children's future along the way. What is worse is my generation for the most part doesn't know and probably doesn't care – making this outcome almost certain.
The Baby Boomers had the unique opportunity to be a part of a huge demographic bubble. I love demographics and have posted on this already in relating this to the stock market. Growing up in a demographic bubble is great for those who are in it because they outnumber everyone, therefore they get what they want. The term "mob psychology" describes the phenomena occurring in a large group of people when individuals in the group trade in their own beliefs and ethics for that of the group. It is a very powerful force and has been prevalent throughout history. It is usually used to describe smaller scale situations such as people protesting abortion getting out of control and shooting someone, or a group of teenagers going out one night and critically injuring a homeless person. However, the Baby Boomers were so large and grew up during a time of revolutionary changes in communication that they experienced a national Mob Psychology. When people speak of the "Summer of Love" when many young people went to San Francisco from all over the country – those who went say something to the effect of, "We didn't know why we were there or what we were doing but we knew it was right and that we were a part of something big." This is at the very core of mob psychology and can be seen later as the Hippies became Yuppies in the 80's and pretty much never looked back. They all moved to the suburbs together, bought SUV's together, and slowly endangered their children's futures together.
The key word, of course is "together". You see, I do not believe my parents are evil – in fact I believe they are very considerate as are most people in their generation. Most other people would say the same about them. That, however, is the most dangerous part of mob psychology – especially when it consumes such a demographic. A self-validating process evolves by which they fail to recognize themselves as a group but by the individuals within the group – thus adding the proverbial fuel to the fire. It is an act of self denial that is not a denial of one's own identity but that of one's group. A KKK member may be a real saint except on Friday's when he and his buddies meet. If his buddies are good people as well – churchgoers, volunteers in the community, great husbands and fathers, this Klansman will feel he is a part of something great – thus never forcing him to question his membership but embrace it.
Although not Klansman – the Baby Boomers are part of a group of people with poor values. However, much like the churchgoing Klansman, their fights for social justices during their youth provided them with a feeling of self-righteousness that has not yet dissipated. On top of that their sheer size has enabled them to get what they wanted throughout their lifetime – and will ensure that they get what they want for the next period of their life as well. Their radical idealism which caused great social change in the 60's and 70's did not surface because they were someone special with unique views and a will to carry them out. Instead, there were so many of them that what would normally be a small protest was a huge rally. As many more caught on – the huge rallies were too big to for authorities to support and they in turn became "movements". Like I have said previously people do not like to attribute things that have happened in their lives to demographics because that infers that the only control they had was to be born (and they didn't even control that). It is very existential in nature and difficult for most God-fearing Americans to grasp and hold on to.
Much like one of Skinner's Rat's or a Pavlovian Dog, being rewarded for something largely out of their control but attributing it to their own accomplishments has given them a dangerous sense of entitlement. This has created a very selfish group of people who used to fight for the rights of others but now fight for the rights of their own. Unfortunately, once again they will win. Those who they elect going forward will be a member of their group, and the majority of the active voting block will also be a part of their group, for years they were fighting "the Man" but now they are fighting nobody. When selfish Republican fights selfish Democrat – both with selfish constituencies – Baby Boomers as a whole win. The losers are those who are not in power and do not have the voting power – namely their children.
Ah, yes their children. Unfortunately, the Baby Boomers had babies of their own, although nearly not as many as their parents did. When two people who believe that they deserve the world get together and have child they tend to transfer those beliefs to Junior – getting much too involved in his/her life, buying him/her everything he/she wants, and inflating his/her ego with every chance they get. In turn this has produced a generation that is apathetic, ignorant, pampered, and believe that they are awesome – an even worse Generation than that of their parents. These characteristics do not help our generation at all because it invokes a nostalgic self-delusion in our parents eyes. They are much less likely to vote to curb Social Security, in order to help out a generation of lazy young adults who "never worked a day in their lives". Making matters worse, this generation does not have the voting power that their parents have. They will be forced with the difficult situation of having to pay for their own parents retirement – not because their parents were poor but because they overspent and undersaved.
This was just an intro into a series of pieces called Generational Welfare. This topic is something that I feel very strongly about. I do not mean any ill will towards the boomers. Some of my best friends are Baby Boomers. I just think it's a generation that will come to its final test of selfishness – whether they give up their vacation home so that their children can have a home of their own – where they can raise children who are even worse.
Coming Soon
Part II: Where the Boomers Went Wrong
Part III: Dude, Where's My Car (and my House, and my Job, and my Paycheck): A Look into the Future Life of Boom Jr.
Part IV: The Baby Boomers & the Markets
Part V: The Baby Boomers & the Politics of the next 20 Years
Part VI: The Boomer Mentality and its Effect on American (and World) Culture
Part VII: Boomers by the Numbers – Statistics & Charts
Part VIII: Ideas so that Thanksgiving 2016 Won't be Awkward
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