American society did suffer in the 60's. As a generation Xer, I can say that many of my peers find the Hugh Hefner and the playboy generation pretty cheesy. I think todays youth are much more centered and crave moral values.
If I believed what you say, there would be evidence that we're turning the corner. Unfortunately, as much as I want you to be right, I don't think you are. The evidence points to a continuing decline in values and morals.
We are on the path to what is occuring in South Africa, I may not see it but my kids and grandkids will, may God see fit to prevent this from happening.