They have just tried to live their best life as every generation try to do.
This collapsing is not a question of generation, it is just a systemic problem.
More debt, inequality increase, bad money repartitions.
It is just roots for war, hate, fear, anxiety, individualism.
Mass "people" always follow and are confident in their leaders that should do their job to manage the country well.
But leaders are less and less good. they only care about themself and not their people or their country anymore.
So the problem is not only about one generation, but the fact that any generation follow the same way.
And it will stay this way until people with really face enough difficulties to force changing the system and their leaders.
And here i am talking about all politics that are just useless nowadays, not about one specific color only. I put all of them in the same bag. If some were different we would not talk about this now.