This really puts into perspective the "pull yourself up by your bootstraps" mentality of the baby boomers

The economy they inherited hadn't disintegrated yet - when you can cover rent with just a couple days work it seems like resources are abundant

But when you put the assumption of plenty into government policy and private social structures, that plenty disappears over time

One analogy: a farmer in a hard winter can eat his seeds for the next year, resulting in immediate "prosperity" but ultimate ruin.

The US since default on gold obligations has been wearing down the plant, equipment and infrastructure of prior generations. Americans enjoy the benefits of inherited capital, but as they consume rather than maintain, replace and extend this capital they will leave future generations impoverished.