Monday, Mar 15, 2010
Can't really argue with this
Daily Mail: How the baby boomers bust Britain: Self-indulgence has left the country financially, socially and even morally crippled
They bought their first homes in the Seventies and saw their mortgages wiped out by inflation.
Others made their money in the Eighties and Nineties, and are now looking forward to a long, healthy and well-remunerated retirement.
Posted by pauly_boy @ 11:30 PM (164 views) Add Comment
1 Comment
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1. mr g said...
Absolute cr*p even by the Mail's standards
I bought my first house in the seventies and still managed to pay my mortgage when interest rates were at 14% by going without foreign holidays and p*ssing it against the wall.
This argument about mortgages being wiped out by inflation is first class horsesh*t and meant to soften up the public for the coming bout of inflation. Inflation was at 24% in 1975 and never below 7% between 1972 and 1982, it certainly didn't wipe out my mortgage or make me feel better off as the cost of everyday living and mortgage interest payments went through the roof.
This is just another example of ageism from the BBC aka Baby Boomer Conspiracy camp.