In the parlance of demographers, I'm a Trailing Baby Boomer, being born in 1963 near the end of the surge in population following the War. And as a social observer, I've watched as the generation immediately before me, the Early Baby Boomers, have feathered their nest. But I've been relatively lucky. It's the Gen Xers (born after 1965) who've really suffered - and Gen Y is just beginning to feel what economic reality is like. This sets the scene for future inter-generational conflict. Here's why.
Early Baby Boomers have had it all. Born in the 10 years following the end of WW2, they have lived truly charmed lives.
Political influence after 1968; free love in the 70s; widening access to a university education (when that still meant something); easy job market with jobs for life as standard; low priced access to the housing market - and later, second homes market; guaranteed pension schemes; possibility of early retirement on significant redundancy packages, a health system which is still more or less functioning for their early retirement needs; an investment market which, until recently, delivered easy profits over the last 20 year period. In short, peace and prosperity.
But, look closer and they have misused and abused their priviliges - their political power and personal prosperity.
Take housing. Residential property prices have risen so sharply that, even taking into account recent falls, first time buyers find it hard to get on the ladder. In effect, Boomers have been buoyed by the rising equity (and have lived rich lives on the proceeds of equity withdrawal). The next generation, meanwhile, has suffered from difficult access and prohibitive expense.
Or take pensions. Boomers sit prettily on well funded final salary schemes and early retirement. The next generation will have to work longer and pay twice. Once for today's pensioners and, once for when the pension schemes are bankrupt and the inter-generational pensions 'contract' breaks down.
Take health and we can all see the way this is heading. Current treatments to keep older people healthy will soon be too expensive for society to afford and trade-offs will increasingly be made. When younger generations come to need intensive healthcare, this will no longer be available - or at personal (not social) cost. Once again, younger generations may end up paying twice. In their taxes now for Baby Boomers and Seniors - and later in their 'obligatory' private insurance schemes.
The final straw may be that the debts caused by the excesses of greedy directors and top financiers (mostly from the Boomer Generation), are being socialised. In other words, all the government bail-outs and stimuli to pay for the bonus entitlement culture will have to be paid by someone. Guess who? Once again it will fall to the next generation to pick up the tab in highly increased taxes.
Incidentally, the young will also have to pay for all the infrastructure improvements that are now absolutely essential to mend the tired national fabric. Remember, these are the repairs that the Boomers have failed to fund over the last 30 years as they have driven down their taxes.
Is this all going unnoticed? Not entirely. Rick Santelli of CNBC causes a furore last week when he pinpointed how far the latest mortgage bail-out in America will have huge financial consequences for the next generations.
At some point in this financial crisis, the debate will swing to an inter-generational one. Who are the winners and losers currently? And is this system justifiable and sustainable? My prediction is that, as the recession continues, immigration will be a hotspot and inner cities will become restless - but that the generations will also collide.
When this last happened in 1968, the hierarchy changed - and social, economic and political life was never the same again. Watch as this unfolds.
