What can that teach us, the new generations?

Baby boom... and bust

By Brendan O'Neill

Baby boomers like to trumpet their generation's achievements. But their fondness for conspicuous consumption and foreign travel has led to many a modern-day ill, from rising debt to environmental destruction.

http://news.bbc.co.uk/2/hi/uk_news/magazine/4798825.stm

Also related:

http://news.bbc.co.uk/2/hi/business/4797379.stm

Bankruptcy rate forecast to rise

Bankruptcy will be a headache for even more people

The number of people going bankrupt is expected to rise sharply in the next three years, according to a government report on personal debt.