"Kids these days are crazy!"

Kids today seem to have a lack of discipline and respect for their peers and the older generation.  This generation of kids has been called the 'Entitled' generation. Along with that are violent crimes that have increased in schools.  My question is do you think this is a result of the late 90's and 2000's "Let's put them in Time-Out" approach to discipline? Or do you believe it is a failure of parenting?