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Albert Edwards: I Cannot Suppress My Anger Any More, The Uk Is Putting Young People Into Indentured Servitude

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Create expensive and hostile housing market together with poor job market to force educated Britons with untenable salary and accommodation expectations out of country....trading for mostly uneducated, low paid, and low expectation immigrants.

Perfect conditions for lords to exploit, profit, and keep their positions.

It's all part of the grand social scheme....

We can't export dross to the other side of the globe against their will, but we sure as hell can make it uncomfortable enough for them to want to leave on their own.

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Ageing population, all policy will be influenced by this. Old people need to subsidise us young people's endeavours with their wealth, not the other way round. Any kind of utterance of increase in care costs, taking away benefits for rich pensioners etc and the media goes mental, so I suspect no hope for the future.

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You can buy a perfectly solid terraced house for £30k up north.

Maybe these overpaid London bankers should get out more.

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What makes me genuinely really angry is that burdening our children with more debt (on top of their student loans) to buy ridiculously expensive houses is seen as a solution to the problem of excessively expensive housing.

This is actually being seen by the government as the solution to the flat-lining economy.

More debt is seen as the answer, there is no other alternative.

Seems to me they are stuck, either government debt increases or household debt increases. But the young are quite happy to burden themselves it seems. Enslaving themselves with their mortgages.

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George Osborne in his March budget proposed an unusually misguided piece of government interference in the housing market. The measures will see government provide lenders with a guarantee of up to 20 per cent of a mortgage in an attempt to encourage lending to borrowers with small deposits. This means that if a borrower defaults on a loan, the taxpayer will be liable for a proportion of the losses

Making the coming collapse that little bit worse.

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We're in the process of putting the general UK public into debt slavery - clearly it'll be the young who enter it first and the older generation will be left to die off. Give it a couple of decades and debt from your 20s until death will be the norm for non-elites and socially accepted.

But, plenty of football, soap operas, reality TV, celebrity stories in the papers and nebulous terror threats in the media and most won't really notice it, like the serfs they are.

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Youth are withdrawing from the labour market. You can't tax them when they don't work. You need to lower effective taxes, be they taxes levied by government or private land taxes in the form of property rents.

Wonder when the government will notice or care?

I read today that the gov are sending out info packs to parents of girls, to help them to aspire to a career. I am sure it tells them to go to uni. Get 'em while they're young!

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Guest eight

I read today that the gov are sending out info packs to parents of girls, to help them to aspire to a career.

I wish the government would just f*** off.

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You can buy a perfectly solid terraced house for £30k up north.

It's not worth anything to a young worker if there's no realistic prospect of employment nearby. The main reason these houses have not gone to zero is that BTL landlords can rent them to housing benefit claimants.

Edited by Dorkins

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You can buy a perfectly solid terraced house for £30k up north.

Maybe these overpaid London bankers should get out more.

Well I live sort of halfway up, geographically, and even a one bed flat in a nasty council estate will set you back 40K, terrace houses, even in the crappy areas start at 60K (every single one on right move with the first line *ATTENTION INVESTORS*).

A normal three bed seventies semi (like my shop floor factory worker father bought) starts at about 140K.

I despair!

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The indentured servitude is the Student Debt.

A debt that cannot be defaulted upon.

A debt that is always 3% above inflation so cannot be inflated away.

A debt that will sneakily compound so quickly that less than 15% of all students are expected to repay it.

They will live with the burden all their lives.

I'm waiting for the day when they turn these into 'multi generational student loans'.

Nah, all it will only take is a load of cases of "my older brother went to uni, is £40k in debt and is working as a shelf-stacker in Morrisons" and kids will decide to skip university. This can only be 2 or 3 years away considering when large fees/loans came in. And both governments and universities will be surprised :rolleyes:. In response, the universities will of course put their fees up to maintain income from the fewer that still do go (as well as letting absolutely anyone from abroad who can hold a pencil and has a chequebook get a place) and then they'll wonder why they're still struggling.

ETA: The authorities also seem to have not thought ahead about the impact on student debt on the ability for graduates to mortgage themselves to the eyeballs and thus maintain house prices. This will probably take around 10 years from when high fees kicked in since graduates would need time to bed in their careers and would be looking to buy in their early 30s. So about 7-8 years to go.

Edited by mikthe20

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Nah, all it will only take is a load of cases of "my older brother went to uni, is £40k in debt and is working as a shelf-stacker in Morrisons" and kids will decide to skip university. This can only be 2 or 3 years away considering when large fees/loans came in. And both governments and universities will be surprised :rolleyes:. In response, the universities will of course put their fees up to maintain income from the fewer that still do go (as well as letting absolutely anyone from abroad who can hold a pencil and has a chequebook get a place) and then they'll wonder why they're still struggling.

Some courses only provide 8 hours of lectures a week....getting 50k in debt for this? sod that......Web-based degrees will be the way to go for many universities...

Woudn't blame a fair few in saying...well, lets become a plumber, and earn way above what most office jockies will ever earn.,

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Nah, all it will only take is a load of cases of "my older brother went to uni, is £40k in debt and is working as a shelf-stacker in Morrisons" and kids will decide to skip university. This can only be 2 or 3 years away considering when large fees/loans came in. And both governments and universities will be surprised :rolleyes:. In response, the universities will of course put their fees up to maintain income from the fewer that still do go (as well as letting absolutely anyone from abroad who can hold a pencil and has a chequebook get a place) and then they'll wonder why they're still struggling.

Its already happening with numbers decreasing or steady depending on which figures you use.

To be honest it gives me some hope for young people and their intelligence. The fiscal drag that student loans will put on people that go University is going to be enormous.

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Nah, all it will only take is a load of cases of "my older brother went to uni, is £40k in debt and is working as a shelf-stacker in Morrisons" and kids will decide to skip university. This can only be 2 or 3 years away considering when large fees/loans came in. And both governments and universities will be surprised :rolleyes:. In response, the universities will of course put their fees up to maintain income from the fewer that still do go (as well as letting absolutely anyone from abroad who can hold a pencil and has a chequebook get a place) and then they'll wonder why they're still struggling.

ETA: The authorities also seem to have not thought ahead about the impact on student debt on the ability for graduates to mortgage themselves to the eyeballs and thus maintain house prices. This will probably take around 10 years from when high fees kicked in since graduates would need time to bed in their careers and would be looking to buy in their early 30s. So about 7-8 years to go.

I'm sure they have, but this is bailing out the dinghy stuff, while water ours in through the hole in the hull........ clearly the current model is unsustainable once it matures, but I'm sure Osborne and Tony will be far away from the mess by the time it implodes.

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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