It's not the material possessions of today's youth that bothers me as much (depends on what it is, and what the kid seems to be like), it's the growing lack of personal responsibility and lack of expectations placed on them.
Things like:
- Not keeping score in youth sports so that there are no losers (yay! all the kids had fun, and no one had to lose and feel bad!)
- Not letting a kid score less than a certain amount on a test, no matter how bad he did (yay! he doesn't have to feel like he failed, and doesn't have to feel bad!)
- Not having a kid who has done poorly throughout an entire class year fail a grade and have to do it over (yay! he won't feel dumber than his friends, and won't feel bad!)
- Not permitting schools to punish troublemakers (yay! my kid can do no wrong, and he won't have to feel bad about what he did!)
- Not punishing their own children for doing bad stuff, especially in public (yay! he won't be mad at me, and won't have to feel bad about what he did!)
- Reaming employers when kids are fired from a job for lackluster performance or just poor attitude (yay! he shouldn't have to feel bad about what he did!)
- Not allowing children to learn from their mistakes, but rather blaming their mistakes on others...like the woman who sued a car maker after her teenage daughter was injured in an auto accident (while she was driving way above the speed limit) by claiming that there weren't instructions on how to use the seatbelt in the car, and that the automaker should be responsible for her daughter's idiocy. (dammit I can't find the link!) This is crap.
This is the crap that bugs me about "kids" today. they grow up feeling that nothing is their fault, and no one should ever bring them down. That's much worse than having an extra iPod or a nice phone.