I think we worry too much about that. And the worry may be positive. But think about when you were young... Didn't people complained, at the time, that youth (you) had no morals? and that that generation was "lost"?
It's a human trait to always think that "in our time" things were better, people were better... but if you really think about it, what were the morals of enslaving people because of their race a little more than 100 years ago? or to not let women vote about 70 years ago? or to kill homosexuals just because they were homosexuals about 40 or 30 years ago? In civilised countries (there are countries that, unfortunately still do all those things), we are not losing morals, on the contrary, we are gaining them. Yes, there are things that are worst, but, in general I think things are much better nowadays. And youth will always be youth... don't expect them to be polite, and nice and well behaved. "you" weren't! the youth in your time was also rebellious, and crazy and did not behave very well, and embarrassed their parents... and some took drugs and did bad things, just like nowadays. But now, we are the ones complaining (and forgetting), and yes, we should complain and try to make things better... that's how it works.