Posted on 10/05/2008 6:21:45 AM PDT by vietvet67
My cohort, the sainted Boomer generation, now rules this country and its institutions. The elite of this generation, graduates of the finest schools, cosmopolitan in taste and sensibility, and left-liberal in political and cultural allegiance -- have always been counted the smartest people in the room (just ask them).
Now these new Masters of the Universe have made a shambles of the US and world financial system. This is, to be sure, not the construction put upon things by the main stream media, but it is plainly the case. The current market turmoil is a product of every bad trait the Boomer Elite has long exhibited in other social and political contexts: unbridled greed and hubris, exorbitant self-regard, breathtaking recklessness, insatiable appetite for immediate gratification, and a rollicking sense of entitlement.
We are seeing in the Wall Street implosion the inevitable result of the Boomer Elite outlook and the behavior it spawned. Storied investment banks were being run on 40 to 1 leverage. Fancy new securities were designed and widely disseminated whose terms are opaque even to highly knowledgeable and experienced hands. Mortgage securitization techniques were developed which, our bettors assured us, would magically spread risk and thus stabilize the financial system. However, simultaneously with these brilliant innovations, lenders were being forced -- by Boomer Elite congressmen with an aching love of the poor and oppressed unique to themselves -- to loan to uncreditworthy borrowers at subprime rates and without adequate documentation. These loans, packaged into securities together with standard, performing loans, rendered unknowable the value of the securities, leading to mandatory write downs and drastic capital impairment or outright insolvency for many very large firms. Given the high degree of integration of the international financial system, critical destabilization was the real result of this confluence of Master of the Universe genius and Boomer Elite turpitude.
The unwillingness of the rest of us to underwrite the moral excesses of the Boomer Elite perfectly enrages them. So, today, the rest of us are being screamed at. In fact, the barrel of a gun is being pressed to our temple. It is demanded that we play our accustomed role of sheep to the slaughter. We are told we must funnel the better part of a trillion dollars to the fantastically imprudent, self-dealing Wall Streeters that gave us the mess, and that we must also chip in the odd tens of billions more on pet lefty projects with which the Boomer Elite, with characteristic cynicism, lard up the package.
Our efforts to be responsible citizens in this crisis are ridiculed and shouted down: exclude from the bail-out the pork and the payoffs to interest groups? How dare we! Include measures that might actually spur badly needed growth in the tough times now surely coming, like cuts in capital gains and corporate taxes? Leave the room!
This is all merely typical of the smug, cocksure Boomer Elite. This is a group that breaks things. It has set the wrecking ball to institutions that are the essential glue of our society (marriage and the family), the basis of our political system (federalism and the separation of powers), the engine of our prosperity (the free market), the guarantor of our freedom (the military), and the glory of our history (the Constitution, participatory democracy).
Although our Masters of the Universe insist we credit them as moral paragons, they are among the most luxury loving, wealth flaunting population ever seen in the world. Whenever a Hollywood celebutard mouths some perfect imbecility in front of a camera, it is sure to be done from a five star resort hotel or on the red carpet of one of those absurdly frequent self-congratulation festivals. The silk tie, moussed hair crowd on Wall Street is no better. If the extent of the naked short selling, self dealing and market manipulation that has actually gone on these last few years were ever to become generally known, it would indict this crew all by itself. And it cannot be said enough: this crowd is heavily on the left and mostly in the Democratic Party. The cigar chomping, pin-striped caricature of a GOP money man has been false to the Wall Street facts for some time, though the left continues to furiously peddle that image.
The Boomer Elite's tired liberal nostrums are continually falsified by reality but, more and more embittered by the refusal of the world to conform to their dictates, they double down, trying to impose more lefty palliatives upon us, measures sure to be flatly unconstitutional, un-American, and disastrously counterproductive all at once. This is a blindly and viciously destructive cohort. They have degraded our common culture, warped our constitution to suit their purposes, and stand ready to subvert our very nationhood to the pipe dream of the Euro-left. Now they have brought our economy to the brink.
This crisis is, at bottom, about self government in two senses and the Boomer Elite is against both. On the macro level, they don't want the American people to govern themselves under the terms of the Constitution of 1789, preferring to rule over us by anti-democratic means wherever possible, and to the full extent possible. On the micro level, being Rousseau's children, they abjure governing their own appetites, and bid everyone act likewise. The Boomer Elite ideal is a sort of Directorate in the political system and economy, moral anarchy in personal conduct, and a quasi-totalitarian PC regime in societal relations. It is bad character as a manifesto, and tsarism as a mode of governance.
Some of the sane knew it all along, but for many others a stunning realization is only now dawning. Much of the vaunted wealth creation of the last 20 years was a mirage, and the ballyhooed processes of wealth creation were themselves largely a scam, no more than the discounted cash flow of the borrowed future.
We must shudder to think how little of our civilization may remain standing when the Boomer Elite finally, mercifully, passes from the scene.
belated ping to #74
belated ping to #75
“I also told him it was no accident that our two candidates for president are a pre-Boomer and a post-Boomer. “
Obama and Governor Palin are both baby boomers. Make sure that you let your son know that.
“Baby Boomers vs Elite baby Boomers are different because...you fill in the blank.”
FROM THE ARTICLE (which it might help you to read and possibly comprehend):
“The elite of this generation, graduates of the finest schools, cosmopolitan in taste and sensibility, and left-liberal in political and cultural allegiance — have always been counted the smartest people in the room (just ask them).
“Now these new Masters of the Universe have made a shambles of the US and world financial system ...”
It hardly describes “Joe Six-Pack,” also an icon of the Baby Boomer generation.
“I am hopeful that there were enough baby boomers that didn’t smoke pot and wear love beads who can salvage something to pass on to the next generation.”
Well, it is too late for the 10s of thousands of boomers (some still fighting) that have given their lives for our country to do anything, but the almost 10 million baby boomer veterans may try to help a little if it is OK.
I’m sure that many boomers will vote for fellow baby boomer Governor Palin.
The oldest of boomers were able to vote for the first time in the 72 election, they voted for Nixon over McGovern 52% to 46%, in 1980 Reagan won decidedly and by 1984 when all boomers were old enough to vote, Reagan won in a landslide.
Trace the worst destruction of America and it’s institutions, and you will see that the worst took place from the mid 30s to the mid 70s. Things actually started slowly moving to the right as the boomers got old enough to start participating in adult activities, such as government.
A long way around just to write about liberals, who are about the same, no matter what generation. You’ve been dazzled by the author’s not so adroit use of the lexicon.
There are thousands of small rural towns across America who have millions of people of my generation who are just as hard working as anyone.
Of course there is no way to know it unless you lived it, because the media has perpetuated the myth that we were all just a bunch of draft-dodging, pot smoking, flower children.
We were not. We were just as dismayed by the flaming radicals of our generation as we are by the crap on TV today.
There are radicals today that are much more dangerous than the ones in my day, Obama is an example-so smooth talking, sounding so reasonable, being promoted by the media. Is the current generation all a bunch of left wing radicals? How could someone like this even be nominated?
It is wrong to blame a whole generation for the actions of radicals. People of my generation volunteered or were drafted to serve in Vietnam. Most of them went. They came back to be more mistreated than any other generation of military heroes. Yet they still love their country-remember the swift boat veterans? They were not the exception-they were the rule.
“The Boomer Elite’s tired liberal nostrums are continually falsified by reality but, more and more embittered by the refusal of the world to conform to their dictates, they double down, trying to impose more lefty palliatives upon us, measures sure to be flatly unconstitutional, un-American, and disastrously counterproductive all at once.
This is a blindly and viciously destructive cohort.
They have degraded our common culture, warped our constitution to suit their purposes, and stand ready to subvert our very nationhood to the pipe dream of the Euro-left.
Now they have brought our economy to the brink.”
Amen.
Contrary to myth, WWII was fought by draftees and Vietnam was fought by volunteers.
http://findarticles.com/p/articles/mi_m0LIY/is_/ai_98829319?tag=artBody;col1
The draft and historical amnesia
VFW Magazine, March, 2003
“No 20th century war could have been waged, much less won, without draftees. During WWI, 72% of servicemen were drafted—50% of the men in France’s trenches were conscripted.
In WWII, 66% of all U.S. forces were drafted. Of the 10.5 million Army personnel, a whopping 93% were draftees. A poll taken in 1941 showed that just more than half of Americans would be willingly drafted for overseas service.
From 1946 to 1973, 5,077,185 men were drafted. During the Korean War era, 30% of total troops were drafted. In December 1950, 82% of the Army in Korea was made up of regulars. Exactly two years later, the ratio was 37% regular to 63% draftee in the war zone.
During the Vietnam era, 1,728,344 men were drafted. Of the forces who actually served in Vietnam, 648,500 (25%) were draftees. Draftees (17,725) accounted for 30.4% of combat deaths in Vietnam.”
As I said, people of my generation were either drafted or volunteered. I assigned no % to either group. My point was that many people of my generation served and were not draft-dodgers, as some people seem to think.
I’m flummoxed...baby boomers aren’t exclusively liberal or immoral or economically dysfunctional.
It so happens I’m a “boomer” but barely. Anyone born between 46-64.
Non-sensical to target “boomers” for our problems, stick to the real issue: liberals.
Remember, more boomers served in the military than ever carried signs.
Ummmm the baby-boomers are the first generation to not only be self-sufficient but also the “sandwich generation” taking care of Mom and Pop AND our sniveling spoiled offspring! (AND all too often THEIR kids too!)
Boomers tend to be split in their partisan alignments. Gen X is the most GOP leaning of the recent generations. However, the Gen Y crowd is turning into the most Dem leaning crowd since the New Deal crowd.
“As I said, people of my generation were either drafted or volunteered. I assigned no % to either group. My point was that many people of my generation served and were not draft-dodgers, as some people seem to think.”
I know, I should have said something to agree with your post before I just threw my post up, I did understand and agree with you though.
Gen Ys are (with notable exceptions) the most annoying generation currently with us. Skilled in Powerpoint, but with an overwheening sense of entitlement and condescension that has not been earned yet.
I don’t think most people have a clue who baby boomers even ARE!
Technically Obama’s a baby boomer.
Come to think of it so is SARAH PALIN!
EACH generation has its ups and downs, blaming all the liberal ills on a single generation is just plain stupid.
“Boomers” in this article is nothing but another senseless divisive generational warfare LIBERAL idea!
Sheesh, you’d think we have enough with class envy, racial strife and now generational idiocy TOO!?
ME get a life!?
GOOD GRIEF!
Enough with failed liberalism already!
OK. In that case, Thanks.
“Boomers tend to be split in their partisan alignments. Gen X is the most GOP leaning of the recent generations. However, the Gen Y crowd is turning into the most Dem leaning crowd since the New Deal crowd.”
These numbers from June don’t break down by the generation titles but here they are.
http://www.cookpolitical.com/node/2283
“Combing through cross-tabulations of three months of Cook Political Report/RT Strategies polls, taken April 17-20, May 29-31, and June 12-15 and involving a total of 2,484 registered voters (margin of error +/-2 percent), the overall trial heat showed Obama ahead by 2 points, 44 percent to 42 percent. But focusing exclusively on the 1,832 whites in the sample revealed something interesting, even allowing for the fact that Lyndon Johnson in 1964 was the last Democratic presidential candidate to win even a plurality of the white vote.
Obama trailed McCain by 9 points among both 18-to-34-year-old white voters and those 65 and older. He lagged by 10 points among 35-to-49-year-old whites. But among those 50 to 64, Obama is losing by a whopping 18 points, 51 percent to 33 percent.”
WOW...I’m beginning to see alot of liberalism infest this place more and more bit by bit each and every day!
Yes those are all race examples.
How about class envy?
Rich vs. poor?
Male vs. female?
sexual preference?
You truly don’t think we have ENOUGH liberalism?
And now you want to FURTHER embrace divisiveness with GENERATIONAL envy too?
UNREAL!
To assert everyone that was born after the greatest generation as “spolied” is not only idiotic, but it ignores the ridiculously spoiled in the generations AFTER us boomers!
We grew up with no cell phones, NO PAGERS (if you can even recall what those were), no remotes, no microwaves, no PC’s and forget video games...I remember what a giant deal PONG was!
I mean if you people truly want to go down this stupid road, we’ll be forced to remind you Sarah Palin’s a boomer and your gals are Brittney Spears and Paris Hilton! ;)
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