Item — HN Reader

Good article, as usual for mises.org (I credit their material a few years ago for motivating me to get out of the stock market).

I am in my 50s, and one of my common little rants is how selfish my generation and the next older generation is. My children and my young grandchildren will indeed have to pay for our collective excesses. Really unfair.

I believe that it is human nature to care for younger generations, so the current wave of selfishness is really sick and unnatural behavior. Two generations of gluttons.

This selfishness is on personal, corporate, and government levels. The worst is starting unnecessary wars on credit, but the general blame trickles on down.

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You generation is screwed, too. Social security net revenue went negative this year. You'll never see a dime. Medicare will also be bankrupt much sooner than anyone thinks.

Only the "next older generation" has made out on these ponzi schemes.

You are right about the next older generation getting even a better deal, but I am not complaining on my own account: when I graduated from college in the 1970s, it was really easy to buy a home, and generally have had an easy life style.

I have to admit to a bit of a morbid fascination about the economy: I expect that in the USA that local governments will go bankrupt, the federal government will devalue the dollar to get by, etc. Thing that I have no idea about: will this happen in 1 year, 10 years? ...