http://www.americanthinker.com/2008/07/why_is_dressing_down_the_new_d.html
Laments of this sort are pretty common, it seems. I suppose all of us share these sentiments in large degree. Guess the best thing we can do is to keep dressing well.
I had always heard the young male practice of wearing the trousers very low with the pant legs bagging, clown-like, over the shoes originated in prison, but not for any sexual reason. As I got the story, there was a more mundane cause: The prisoners were not allowed belts so they couldn't hang themselves or use them as garrotes or otherwise as weapons.