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Also posted today, very much related: TLDR; Regardless of how it's broken down, the overall amount of debt is up. We've added a few more million people since 2008, so debt per capita still isn't what it was leading up to when the market took a tumble. veen's article touched on it, but it seems like the secret's out. Experiences are more fulfilling than that $30,000 hammock 'bl00 posted here ~two years ago. So can we blame the baby boomers for falsely inflating the retail market through their rampant consumerism? Sure, why not. None of this takes into account the long term effects of flooding the job market with increasingly devalued college diplomas. The earning power of college graduates should decrease accordingly.