Babygloomers

(British) baby boomers struggling to support their children and their parents.

“Financial experts and politicians noted that a ‘sandwich generation’ of adults squeezed between their parents and children has become one of the most striking phenomenons of the credit crisis,” The Telegraph reported, quoting a mortgage broker as saying:

“The Babygloomers have a huge responsibility on their shoulders. They are being squeezed in two directions – on one side by their children who need help with their mortgage or getting on the housing ladder, and on the other by their parents who are suffering from restricted income because of the low return on savings rates.”

(The children of beleaguered babygloomers are known as the “bungee brood” – according to The Daily Mail, because they repeatedly “bounce back” to their parents for financial support. Bizarrely, 80% of young British adults recently surveyed considered themselves to be financially independent despite receiving economic assistance from their parents.)