Howard Gold’s No-Nonsense Investing: Boomers and upper-middle class to America: Don’t blame us for economy’s problems

It’s become received wisdom: Baby boomers have ruined America by spending all the wealth and leaving their children nothing but debt. And the upper-middle class has hogged all the opportunities and rolled up the drawbridge behind them.

It’s all laid out in recent books like “A Generation of Sociopaths” by Bruce Cannon Gibney and “Dream Hoarders” by Richard Reeves, and has provided rich fodder for columnists. “Over the past generation, members of the college-educated class have become amazingly good at making sure their children retain their privileged status,” wrote the nominally conservative David Brooks in The New York Times. “They have also become devastatingly good at making sure the children of other classes have limited chances to join their ranks.

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