[shindigger]

bmf, on 13 March 2012 - 11:01 PM, said:

Read it thoroughly: http://www.bbc.co.uk...siness-17301032

As I've said on many a post, the demographic cliff is going to make the last decade look like clover.

Over the years i can remember reading various Demographic links on here.
This will come as a shock to some, but not your average HPCer.
No less unpalatable though.
Im planning on redoubling my efforts to hook up with my ex in the south of France.
It aint gonna be pretty anywhere, but at least its hot down there.

[juvenal]

What did Mason say about immigration? A big infusion of young taxpayers are going to get us out of this mess?

[cybernoid]

Being prudent was recently and is now and will be for the rest of our lives .... stupid. Do the minimum required for today, live for today, for there is no tomorrow. You save anything up and they'll take it from you. See the world while you can, do what you enjoy today, do not put anything off because you think it's responsible.

[bmf]

shindigger, on 13 March 2012 - 11:08 PM, said:

Over the years i can remember reading various Demographic links on here.
This will come as a shock to some, but not your average HPCer.
No less unpalatable though.
Im planning on redoubling my efforts to hook up with my ex in the south of France.
It aint gonna be pretty anywhere, but at least its hot down there.

Hard to know how to protect your savings from the state especially with recent retrospective legislation. Christ. To buy a house and buy a tie to the UK or to keep money in ISAs etc only to have the state insist I make a patriotic contribution on capital gains as inflation goes nuts.

[bmf]

juvenal, on 13 March 2012 - 11:11 PM, said:

What did Mason say about immigration? A big infusion of young taxpayers are going to get us out of this mess?

I missed that bit. Kids woke up! That's always been the only way I can see them getting out of this. Special immigration rules for under 30s ie new ponzi entrants who will be grateful if they are from failed states.

[juvenal]

bmf, on 13 March 2012 - 11:14 PM, said:

I missed that bit. Kids woke up! That's always been the only way I can see them getting out of this. Special immigration rules for under 30s ie new ponzi entrants who will be grateful if they are from failed states.

But even if newcomers pay taxes, what's to prevent them sending much of their dough back home, rather than spending it in the economy here? Surely huge sums go abroad at the moment.

[shindigger]

cybernoid, on 13 March 2012 - 11:12 PM, said:

Being prudent was recently and is now and will be for the rest of our lives .... stupid. Do the minimum required for today, live for today, for there is no tomorrow. You save anything up and they'll take it from you. See the world while you can, do what you enjoy today, do not put anything off because you think it's responsible.

Yup. The unravelling of everything i have been taught.
Odd feeling. But ive known it for a decade really.
We all have.
Time to check out the Motorhomes on Ebay.

[bmf]

juvenal, on 13 March 2012 - 11:16 PM, said:

But even if newcomers pay taxes, what's to prevent them sending much of their dough back home, rather than spending it in the economy here? Surely huge sums go abroad at the moment.

Not if you tax the crap out of them. Then why come? Because their state is half underwater...

This post has been edited by bmf: 13 March 2012 - 11:18 PM

[ChumpusRex]

juvenal, on 13 March 2012 - 11:16 PM, said:

But even if newcomers pay taxes, what's to prevent them sending much of their dough back home, rather than spending it in the economy here? Surely huge sums go abroad at the moment.

One of the advantages of not being a reserve currency, is that the currency tends to come back to this country fairly rapidly (often via exports). People don't hoard GBP in overseas countries, to anywhere near the extent that USD or even EUR gets hoarded.

[shindigger]

I think there will be more violence this summer.
LOTS more.

[57percent]

ChumpusRex, on 13 March 2012 - 11:19 PM, said:

One of the advantages of not being a reserve currency, is that the currency tends to come back to this country fairly rapidly (often via exports). People don't hoard GBP in overseas countries, to anywhere near the extent that USD or even EUR gets hoarded.

Yep, but we don't have much to sell them, so they just buy up all the property (then counts as an export).

[Killer Bunny]

The Masked Tulip, on 13 March 2012 - 10:38 PM, said:

Financial repression - limited interest on savings, make it difficult for people to invest their money anywhere to make a return?

Hmm, that is interesting isn't it - this is increasingly being talked about but from what I can see those with public sector pensions will be fine but private sector pension people will be screwed. Or am I missing something?

It happened in Argentina. Public sector middle class wiped out by raging inflation and - eventually in our case - non-fully index linked pensions. 5-10 years...

This post has been edited by Killer Bunny: 13 March 2012 - 11:30 PM

[Chuffy Chuffnell]

57percent, on 13 March 2012 - 11:23 PM, said:

Yep, but we don't have much to sell them, so they just buy up all the property (then counts as an export).

We've got trillions of pounds worth of London to sell.

[Woot]

The Masked Tulip, on 13 March 2012 - 10:58 PM, said:

So we need massive more immigration do we... Hmm, buy a house now people.

Damn I missed that bit - is that really what was being proposed? By whom? Can they really not see the flaw in the plan, or indeed how much of our current predicament comes from trying to support x00,000 jobless immigrants and their extended families?

[stormymonday_2011]

cybernoid, on 13 March 2012 - 11:12 PM, said:

Being prudent was recently and is now and will be for the rest of our lives .... stupid. Do the minimum required for today, live for today, for there is no tomorrow. You save anything up and they'll take it from you. See the world while you can, do what you enjoy today, do not put anything off because you think it's responsible.

Indeed

The top rated comment on Masons blog I suspect is rather c;lose to the truth on this whole debacle

Quote

Racking up debt and then inflating it away is a mechanism deliberately designed to keep all but the super wealthy in their place. Applied cyclically it becomes a "wealth harvest" pulling back any wealth which may have trickled won or been created by "ordinary" people and stashing it in the coffers of the rich.

The one thing the masses can not be allowed to do is to accumulate and control their own capital. If that was to happen how could they be controlled ?