Gen Y did exactly what all the generations since "the greatest generation" did. They went to school, studied and earned their degrees in a diverse variety of subjects. The only difference is when they graduate the jobs just aren't there. You can't blame them for their own unemployment, not any more than the generations prior that built the system the GEN Y must now cope with.
If they are black, yes (only if jesse jackson incites them to) If they are white, no (they're too lazy and will be too busy playing world of warcraft to riot)
the economy as most people remember it was a hoax, a long term bubble where a huge portion of the population found fulfillment in jobs that made no economic sense, or were actually destroying economic values. This is not a depression or a recession, this is in fact reality.
Shouldnt someone tell the youth of America that two thirds of all jobs require a license of some sort,,not a degree, or is that not marketable? I read one young couple in kentucky spent near a hundred grand for degrees to be social workers,,I mean dang.