Well the me generation is going down the toilet is it? All rights and no responsibilities. Yup and look at the mess. 

The only thing I ever owed money on was my mortgage. I put a certain portion of my income aside every year knowing in about a decade I would need a car, which I bought in cash. Also if I went on a holiday I would pay for it in cash. I continually put money against the principal of my mortgage and paid it off 7 years early. 

Ah but the "ME generation" has to have the latest Iphone, trips to the Caribbean, new car every four to five years and make it a big SUV please. Oh and the big house and lots of partying. Oh Oh - Bankrupt! Now you can eat dog food and live in a dump while I have a big belly laugh at your expense! Aha ha ha ha ha ha ha