This wasn’t a generational problem. Printing money is what politicians do. I cringed when the interest rate went to zero. The reason is that government can now print itself free money. The only honest Democrat, Patrick Moynihan said, “politics is about who gets how much, when.” The fact that the Babyboomer’s were around when government started printing money is not causal. Had any other generation been in power at the time printing money for free would have happened then as well.
Bill Clinton started printing money for his pet project of bailing out Mexico from their Peso Crisis in 1994. Pull up a chart of the S&P and look how it takes off in 1994.