Collapse of the subprime mortgage market reflects the "don't trust anybody over 30" mentality of the Baby Boomers. From 1605 until the late 1960s, Americans universally subscribed to Benjamin Franklin's maxim,"A penny saved is a penny earned." Since the Baby Boomer student anarchism of the late 1960s and 1970s, we have become a nation, on balance, worshiping infantile, instant, hedonistic gratification. Liberals’ ideas about “values” have to do with the absence of personal restraints and with material goods and services, which is what the welfare state is all about. Values for the colonists were the elements of spiritual morality, the...