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Hey kids, wake up! Stop playing your X-Box while listening to your Facebooks on the iPod and wearing your iPad with the cap turned backwards with the droopy pants and the bikini underwear listening to Snoopy Poopy Poop Dogg and the Enema Man and all that! Take a break from getting yet another tattoo on your ass bone or your nipples pierced already! And STFU about the 1 Percent vs. the 99 Percent! You're not getting screwed by billionaires and plutocrats. You're getting screwed by Mom and Dad.

Though everyone seems to be feeling sorry for millennials, who are experiencing one of the highest unemployment rates and boomers, who are delaying their retirement due to the economy, the generation in between, Gen X, deserves their own time in the recession limelight. A Census report released on Monday found that people between 35 and 44 saw a 59 percent decline in median household net worth between 2005 to 2010, the largest drop of all age groups. Those 55 to 64, only saw a 25 percent drop, though they had a larger decline in actual dollar amount.

Baby boomers: Get ready for a double whammy. For years now, there's been a lot of talk about boomers getting tremendous windfalls as their parents pass on. Many boomers, in fact, have been lagging behind in their savings, betting on—hoping for—big bequests, especially since many of them suffered big losses in 2008. But for a growing number of boomers, things aren't going according to plan. The postwar generation is living longer—and many are spending their savings along the way. And, of course, many of them also took a hit in 2008. The result is that, as a group, boomers likely...

Is no age group safe from the fiscal woes of economic near-recession and pending entitlement crises? (Hint: No.) While we often focus on the troubles of young people unable to find employment and just chillin' on the parents' couches, and we're already well aware of the upcoming squeeze on Social Security as baby boomers begin to reach retirement age, here's a fun and exciting reminder from the Wall Street Journal. For years now, there's been a lot of talk about boomers getting tremendous windfalls as their parents pass on. Many boomers, in fact, have been lagging behind in their savings,...

The federal government Friday called for all baby boomers to be tested for hepatitis C, which kills more Americans each year than AIDS and is the leading reason for liver transplants. The Centers for Disease Control and Prevention made the recommendation to find hundreds of thousands of people who don't realize that they have the infection, which greatly increases their chances of developing cirrhosis and liver cancer. The hepatitis C virus is transmitted by blood, usually through intravenous drug use or transfusions. A blood test for it became widely available in 1992. Extremely small amounts of the virus are able...

When the April figures on unemployment were released May 4, they were more than disappointing. They were deeply disturbing. While the unemployment rate had fallen from 8.2 percent to 8.1 percent, 342,000 workers had stopped looking for work. They had just dropped out of the labor market. Only 63.6 percent of the U.S. working age population is now in the labor force, the lowest level since December 1981. During the Reagan, Bush I and Clinton years, participation in the labor force rose steadily to a record 67 percent. The plunge since has been almost uninterrupted. Here is a major cause...

Walter Russell Mead writes on the disappearance of jobs for non-Baby Boomers: An analysis of recent jobs figures at Investor.com reveals a disturbing development: the biggest beneficiaries from the economic recovery are Boomers, while everyone else is getting the shaft. Since the Obama administration took office, there has been an epochal shift. Young workers have continued to lose jobs and incomes, while older workers have actually gained ground. In fact, the Obama administration has seen a boom in the prospects of the 55+ crowd; their (I should say ‘our’) employment stands at a 42 year high. Net, there are 3.9...

At the end of this year, Nancy Keenan will step down from her post as president of NARAL Pro-Choice America, the country’s oldest abortion-rights advocacy group. The 60-year-old Keenan said she is leaving out of concern for the future of the pro-choice movement — and thinks she could be holding it back. Nancy Keenan will retire as president of NARAL Pro-Choice America at the end of the year. (Sarah L. Voisin - WASHINGTON POST) In recent years, Keenan has worried about an “intensity gap” on abortion rights among millennials, which the group considers to be the generation of Americans born...

AGING populations in America and Europe raise many economic concerns. A popular one is whether aging baby boomers will tank the stock market. That’s story in this Wall Street Journal article, which says that when baby boomers bought stock to fund their retirement, that drove up share prices in the 1990s. Now, on the cusp of retirement, they will sell their shares so prices must fall. This theory appears to be confirmed by a figure from the San Francisco Fed, which shows a strong correlation between the price/earnings ratio and what they call the M/O ratio, the ratio of people age...

(Reuters) - Will the baby boomers be the only generation to retire with 401(k) plans? It could happen. Last week many of the nation's biggest thinkers on retirement got together in a Senate hearing room to discuss the future of pensions and retirement. There were representatives of unions, employers, financial services providers, government agencies and consumer groups. And the only thing they all seemed to agree on was this: The 401(k) plan has been sort of a failure. Those are strong words, and probably overstate the case. Current and future retirees now have some $4.3 trillion for retirement that wouldn't...

WASHINGTON – Ben Bernanke presided over his first meeting as Federal Reserve chairman in March 2006 believing the nation's economy could pull off a "soft landing" from falling home prices. Three months later, Bernanke had begun to grasp that he and others had underestimated the risk housing posed to the economy. Newly released transcripts of Fed meetings during Bernanke's first year as chairman show that, among Fed officials, he often expressed the most concern about housing. But no official, according to the transcripts, recognized the extent of the damage a housing bubble would cause. A year later, the housing market's...

This seems like a really bad idea to me. Talk about crony capitalism. Individual buyers will be shut out from buting these properties.

When it comes to the feminist version of history (sorry — herstory!), it’s hurrah for Gloria Steinem. She started a magazine nobody ever read. And cheers for Billie Jean King, the tennis player who proved a young professional athlete could beat a 55-year-old slob. Give it up for Indira Gandhi and Hillary Clinton, who proved that you could sweep into power on the coattails of your dad or husband, and by all means let us celebrate Oprah Winfrey, who proved that you could spin mystical mumbo-jumbo, airy empowerment talk and perpetual wounded victimhood into a billion-dollar sisterhood racket. What about...

If you heard more "Merry Christmas" than "Happy Holiday" during the 2011 holiday season, it may be a sign that using "Politically Correct" language is going out of style.

The bust that began in 2007 has just begun to ravage tax revenues in communities from coast to coast. The problem is unlikely to subside soon. For instance, Baltimore collected $815 million in property taxes during the most recent fiscal year. Next year, the figure is predicted to shrink to $803.5 million. The following year, $773 million. The year after that, $735.7 million. The year after that, $729.4 million. “I don’t see any quick fixes over the next four or five years, to be honest.” Baltimore already faces a budget deficit of more than $50 million next year. “Obviously, it...

MONA CHAREN DECEMBER 23, 2011 Merry Manly Christmas and Hanukkah The code of the gentleman is not obsolete. This is the time of year to turn our thoughts to noble sentiments and inspiring stories. William Bennett, who has established something of a cottage industry in uplift, has a new book out that celebrates and explicates all that is bracing, wholesome, affecting, and necessary about men and manliness That such a book is required, it must be acknowledged, is not good news about our cultural health, and Bennett introduces The Book of Man: Readings on the Path to Manhood with tidings...

Real estate agents are famous for putting a listing in the best possible light to close a sale. On Thursday, the industry's national trade association confirmed that its monthly data have been painting a rosier picture of the pace of home sales since 2007. As msnbc.com reported in March, the National Association of Realtors has been overstating the pace of existing home sales by more than 16 percent. The trade group now says just 17.7 million existing homes were sold from 2007 to 2010, not the 20.6 million it originally reported. The NAR made no changes to its data on...

State officials say a New Jersey man and his adult son were wounded in a pheasant hunting accident this weekend, then shot a second time while they were discussing the first mishap with authorities Both shootings occurred Saturday morning in the Colliers Mills Wildlife Management area in Jackson. The first shooting involved a single hunter who fled the scene, while the second involved a group of other hunters. The victims — identified only as two Jackson residents, ages 60 and 34 — each had pellet wounds to their face and hands, but the injuries were not considered serious. A state...

30 percent of home owners "under water". Home values will drop another 3-5 percent and stay at that level the next few years.

WASHINGTON — Who is paying for the two-month extension of the payroll tax cut working its way through Congress? The cost is being dropped in the laps of most people who buy homes or refinance beginning next year. The typical person who buys a $200,000 home or refinances that amount starting on Jan. 1 would have to pay roughly $17 more a month for their mortgage, thanks to a fee increase included in the payroll tax cut bill that the Senate passed Saturday. The White House said the fee increases would be phased in gradually. The legislation provides a two-month...