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I disagree with this. At least in the case of my peer circle extending through co-workers, friends, family, acquaintances. It's more of a "we just dont care and would rather watch things unfold while complaining about it among ourselves because old white people are crazy."
Well, that's even more depressing. Old white people have been crazy for a long long time. But, I bet you all do care. The water just isn't hot enough. That being said, I am not claiming that my generation (either the tail-end of X, or gen Y) has any claim to rebellion, but things were pretty damn good for us. We could get out of a four-year degree, and have a new car, a home, and a seed of retirement savings within 5 years.