I heard similar on the news when this "story" came out. I cannot think I cannot think of any good lessons that come from this. These idiots are bankrupting themselves to please their kids, and they are teaching their kids to be spoiled little hyper consumers.
I've noticed a real sea change on-line lately about "retirement equity" and a lot of it involves Breeding or "race" and how we need to "equalize" things. I am a person who lived below her means and saved my whole adult life. Nobody handed anything to me. I did not buy my first house until I was over 40 because I wanted to put 20% down and not sacrifice my retirement savings. I lived responsibly.
Very few individuals can afford to spend $20,000 on concert tickets, period. Kids require financial sacrifices, but nobody wants to hear that. Instead they spend money on restaurants, fancy clothes and activities for their brats, lavish vacations, etc. and then they whine later that they have no retirement savings.
The topic is starting to come up on unrelated things. I was on FB the other day and there was a short from a doctor's office. A 69 year old woman got a face lift. She looked great and good for her. I would say AT LEAST 75% of the comments were essentially, stop putting these things on line because I cannot afford it and it's not "fair" etc.
What was one of the first lessons I learned as a kid? Life isn't "fair." My childhood was anything but "fair" and I certainly did not deserve many of the abusive things that happened to me. But I also learned that once I was out, my decisions could make a big difference in my life. I learned that money=freedom and if you are smart enough to save it you can call your own shots. It meant not keeping up with everyone else for a long time. So much of the Breeder lifestyle involves borrowing money to get the big house, fancy cars, vacations and lifestyle that these people cannot truly afford. It also required being an independent thinker and so many kids today are growing up not knowing how to do that.