jim wrote:
I have never had a higher than average earning job in my life, always lower than average, yet I was able to run my car, had a modest boat, a modest lifestyle, paid my debits, never over extended, now things are comfortable, nothing flash, just comfortable, eat when I am hungry, sleep when I am tired, keep warm when its cold, and dry when its wet, what else could I possibly want? all things are relative, life is a game, and money is just the way we keep score, I dont envy the millionairs, dont pity most of the poor, its them that make the least mistakes. we all control our destiny to a point, I would do any job than be out of work, the world dont owe me a living, (Jims Law)

You (and I Jim) are what is called by the younger generation as 'boomers'.
They take the view that as we have enjoyed the benefit of HPI and the growth on the financial markets (bumping up pension entitlement) through the decades since they 80's that we have done pretty well for ourselves. In fact some of them refer to this as a genius stroke of luck and/or the older generations stealing from the younger.
It is true those savvy enough to have put a little away over they years are now relatively well off in terms of what pension entitlements are going to be 20 or 30 years hence. It is now quite clear the situation is untenable and that the 'ponzi' scheme they use (getting today' NI contributors) to fund the pensions of today is beginning to fail. (probably another reason why they want to open the borders to get some more blood in at the bottom).
Westonman rightly points out today's is an 'instant' society. If someone wants a new phone or computer or any other shiny thing they have to have it today, where they cannot afford it they use credit. Credit has become the norm people want things before they can afford them whereas 'back then' we had to save so never developed the same sense of 'entitlement'.
So we know have an entitlement attitude emblazoned across significant parts of the population and we see examples of this everyday.
In fact it is this attitude and the availability of (was ever increasing) cheap credit which has led to the unsustainable boom and the eventual financial $hitstorm we find ourselves in today. Be in no doubt the amount of credit which was granted was 'off the scale', there will never be any economic recovery until such time as that credit is paid down.
Like it or loath it some of the blame for this must be laid at Thatcher and Reagans feet for the de-regulation of the market policies they employed in the 80's. From the young couple over exaggerating (by some significant degree their earnings) on a self assessment mortgage form (and the lender not checking this) to the young thugs lifting TV's from the windows of Curry's last August. To completely different ends of the scale, one is seen as a white lie (as it does no harm, or does it?) the other criminal but still the common denominator is the sense of entitlement.