I would speculate that central banks did not have enough funds to bail out everyone and decided private savings drew the short straw. In regard to any financial problems Boomers have to face, I think they had it coming whatever the cause.
They will also be among the first to face the bewildering consequences of Obamacare "death panels; but that is another really long essay.
Here is a copy of the letter I wrote about my generation a few years back.
From: Retain Mike
Sent: Wednesday, November 28, 2007 9:37 AM
To: WSJ Letters
Subject: Baby Boomers: The Worst Generation.
Instead of Boom! Tom Brokaw should have titled his book The Worst Generation. The focus of society since WW II has been on how to make Baby Boomer passage through life ever more comforting and affluent. Great perplexity now exists about what enabling behaviors to legislate concerning health care and Social Security to ensure them a retirement free of financial worries and moral concerns.
Baby Boomers have always possessed a great social conscience carefully directed into areas bringing them peer acceptance by costless displays of compassion. Their hijacking of the civil rights movement provides a clear example. The hallmark legislation affirming human equality was the Civil Rights Act of 1964, which became law just as the first Baby Boomers graduated from high school. The generations, which came to maturity in the 30s, 40s, and 50s, are the ones, which paid the price and triumphed against formidable opposition.
Baby Boomers have an unprecedented focus on self. With that generation coming of age, the divorce rate first exceeded the marriage rate, and there was first enacted a nationwide Federal Support Enforcement program to track down deadbeat dads. In the 30s, 40s and 50s syphilis and gonorrhea were the widely known venereal diseases. Now over thirty diseases are transmitted, and only professionals can keep track.
The Baby Boomer generation has achieved self-actualization through moral exhibitionism and militant self-absorption, and has strained the survival of this country as much as our Civil War.
Nonsense. You can’t lump people together based on when they were born. Liberals create competing groups. Conservatives believe in freedom and individual responsibility.