5. 2008 - Fake empire

The torch passed to a new generation. With the arrival of Barack Obama, it looked as though the boomers’ time was up. They deserved credit for building a country that would elect a black president. But then their other great legacy – an economy built on financial hyper-creativity and easy credit – exploded, releasing political forces this generation had too long ignored. To listen to the full series, subscribe to Economist Podcasts+. If you’re already a subscriber to The Economist, you have full access to all our shows as part of your subscription. For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account. This episode draws on audio from C-SPAN, The White House, CBS, Pat Garrett, Al-Jazeera, Koi Pond app, Alabama government archive, PBS, CNBC, ABC