Is the Entitlement Generation Heading for Bankruptcy?

Is the Entitlement Generation Heading for Bankruptcy? "Since the end of the baby boomer generation, a new group of young adults known as the entitlement generation has emerged. Although this is not technically their name, these individuals are known as members of generations X, Z, and Y; however, they share a common characteristic: a sense of entitlement. Throughout their education, they were told they were the finest. Psychiatrists made it plain that teachers and parents should not damage their fragile egos by making them believe they were better than they were. Baby boomers were responsible for providing their children nearly everything their parents denied them. Due to this, the debt-free days and retirement savings accounts were no longer available. This new segment had credit cards, which allowed them to make purchases immediately. Why wait when it is now available on plastic? This concept did not take on until the 1980s, and by the end of the 1980s, the ratio of consumer debt to income was approximately 50%. This number has increased to 154% by the end of 2012, a significant increase. This generation that we have created is completely out of touch, and as a result, nearly 50 million Americans now receive food assistance. 128 million Americans receive some form of government assistance. People are perplexed as to why the nation is so deeply in debt with no real solutions to the problems. The politicians are aware that the best way to win votes is to appeal to the avarice of this new generation by giving them free cell phones, welfare, food stamps, and indefinite unemployment benefits. Simply perform the math, and at some point, this will all have to fall. People have become so narcissistic that they are blind to the fact that this system is currently being overrun.Corporate America on one side and progressives on the other used modern psychology to exploit an individual's pride and avarice to create this problem. They used Madison Avenue to convince individuals that they deserved and deserved it. The notion that anyone can live like a rock celebrity is absurd, yet most members of this generation of entitlement see nothing wrong with it. This group is surviving by stealing Peter to pay Paul and borrowing itself into oblivion. The government recently disclosed bankruptcy filing statistics indicating a decline from 2010, which was a record year. They use this data to demonstrate that the economy has turned the corner and the recession has ended. As consumer debt has now surpassed a record $2.75 trillion, they are not considering the entire picture. Instead of consulting a bankruptcy attorney, these young adults borrow more money to support their unsustainable lifestyles. Those who avoided foreclosure cling to the hope that their tract homes will soon be worth millions of dollars again. When they return to reality, they will realize that the days of the real estate mania are over and will never return.As this problem persists, many entitled individuals have been forced to move back in with their parents, placing a significant strain on their parents' finances. Do you believe they are sad? Probably not, as they view themselves as infallible. If the parents were intelligent, they would not assist their children continue to pay these bad debts, but rather teach them a lesson in tough love by compelling them to file for bankruptcy. At some point, the inevitable will occur, so why continue to exacerbate the problem by pouring good money after bad? The greatest gift that could be given to one of these individuals would be transportation to a bankruptcy attorney for a reality check. Our great-grandparents and grandparents who have passed away would turn over in their graves if they could see how the country has transformed from a debt-free way of life to one that is buried in debt. For many of these individuals, bankruptcy is imminent; they need to wake up and smell the coffee.
" - https://www.affordablecebu.com/