I'm sorry otherpeople's teens your post is the biggest load of guff ever.
"Unfortunately, for a substantial proportion of the population this had little connection with individuals' own productivity, but was the result of wealth redistribution. "
Not at all. All of the economic data shows that since 1980, that 90 returns for increased productivity ( economic growth) have gone in the vast majority to the top 10%, the owners of capital, rather than been shared as a reward for labour.
Nice little neo liberal trope, but its not true.
Nor is the deficit/debt myth that your propagate true, the debt to GDP ratio has been higher for most of the last 250 years than it is now. Discussing it in nominal terms is disingenuous.
"in the 80's a Ford Sierra was seen as a big expensive car and McDonalds was a treat for the kids. Now, a BMW 3-series and eating out at a decent restaurant once a week mark you down as distinctly average."
The cost of owning and operating cars has lowered dramatically since the 70s/80s, and whilst McDonald's may have been seen as a "treat" many, many people had a chippy tea once a week, went to the pub more etc, oh and housing took up a lot less of people's income.
Basically your post is a load of pseudo intellectual guff.