This is so true. The younger generation got hosed because the older generation screwed up in a big way. Our country had a chance to clean house during the 2008 financial melt down. The big banks failing would have caused a horrible economy but we would've flushed Goldman Sachs, JP Morgan, Bank of America, AIG, and a host of other leaches down the drain. Check out the historical prices of Goldman Sachs from 2007 to late 2008 if you don't believe me. The market was anticipating the bankruptcy of Goldman Sachs and this company is supposed to be the pillar of Wall Street.

Our economy would have recovered by now but we live in an even more distorted world. Risk is not priced correctly because interest rates are too low. Take Amazon for example. They can borrow at low rates to acquire an overpriced company in Whole Foods. Had Amazon borrowed at say 8% then the transaction is a lot riskier. This miss pricing of risk is radically distorting the economy throughout the country and there will be bad consequences. Those at the bottom of the economy will have the worst time and that includes recent high school and college graduates who will be looking for the few entry level positions.