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Elderly Powering The Recovery

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Probably because their savings pay a pittance:

http://www.spectator.co.uk/features/8971781/help-the-aged-2/

As for the canard that the elderly are somehow taking jobs away from the young, that’s not true either. A recent report by the Institute for Fiscal Studies concluded there was ‘no evidence of long-term crowding-out of younger individuals from the labour market by older workers’. Today, 20 per cent of British youth are unemployed — but the jobs market still absorbs some 600 immigrants a day and more oldies than ever. It is hard to avoid the conclusion that jobs are there, for those who want to take them. And in Britain, the recovery seems to be a joint venture between immigrants and pensioners.

Contrary to Keynesian orthodoxy, which argues that slumps are caused by lack of demand, the determining factor behind the UK recovery seems to be the supply of willing workers. It is harder than ever to regard the over-65s as a burden, given that a million of them are now taxpaying employees. Across all sectors, businesses report the benefits of employing older workers. McDonald’s, for example, reports a 20 per cent higher performance in outlets employing workers aged over 60 as well as younger workers.

Ah, say the boomophobes, but the older generation are sitting on small goldmines in the shape of the value of their houses, while we can’t get on to the housing ladder at all. Younger people have even been described in the press as the ‘jilted generation’ — children born since the turn of the century who will have to live with their parents for longer and will struggle to afford their own homes. Well yes, it’s true that house prices have been pushed sky-high, particularly in the south-east. But that’s a distortion caused by social change and the policies of successive governments — high immigration rates, family breakdown pushing up demand, and not enough homes being built to keep pace.

Yes its rather nice if your housing is bought and paid for, as you get to keep what little you earn. Less fun for a youngster living in bedsit land, with a rentier taking most of his `take home,` so its easy to see, why many don't bother.

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I see Michael Winner did his fair share of keeping UK plc on track before he died. Calm down...his 12 million debts from the spend-fest are covered:-

http://www.dailymail.co.uk/news/article-2377493/Michael-Winner-leaves-shocking-trail-12m-debts.html

Why can't the young eat cake?

Edited by crashmonitor

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I see Michael Winner did his fair share of keeping UK plc on track before he died. Calm down...his 12 million debts from the spend-fest are covered:-

http://www.dailymail...-12m-debts.html

Why can't the young eat cake?

I don't regard leaving £4.75M as comparatively meagre! :blink:

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There are three winners in all this, Mr Winner, The Lenders and The Tax Man. ;)

I think a lot of the young are saying, stuff the Rentier State and either planning to emigrate, or simply not bother. Quite frankly I can't blame them.

If you are an immigrant, its easy to rough it a few years. If you are a Brit its now highly likely you'll end with half your take home paying going to a rentier or paying his pension... for ever.

Many are wising up to the fact, that however much they work hard, any earnings gains will go to the rentiers or a bank.

Many pensioners are running their affairs like mini Michael Winners, with home equity supporting lifestyle so there will be little to be passed on.

Edited by aSecureTenant

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I think a lot of the young are saying, stuff the Rentier State and either planning to emigrate, or simply not bother. Quite frankly I can't blame them.

If you are an immigrant, its easy to rough it a few years. If you are a Brit its now highly likely you'll end with half your take home paying going to a rentier or paying his pension... for ever.

Many are wising up to the fact, that however much they work hard, any earnings gains will go to the rentiers or a bank.

Many pensioners are running their affairs like mini Michael Winners, with home equity supporting lifestyle so there will be little to be passed on.

Yes, the intra-company transfer loopholes which have so enriched our banking IT systems of late are classic examples of this- many people funnelled from India, sluming it in a shared rental for a few years before returning home with a relative fortune, while their UK national colleagues may have no such option to live in a shared house with family etc. All the big names in banking/mutuals have done this.

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I think a lot of the young are saying, stuff the Rentier State and either planning to emigrate, or simply not bother. Quite frankly I can't blame them.

If you are an immigrant, its easy to rough it a few years. If you are a Brit its now highly likely you'll end with half your take home paying going to a rentier or paying his pension... for ever.

Many are wising up to the fact, that however much they work hard, any earnings gains will go to the rentiers or a bank.

Many pensioners are running their affairs like mini Michael Winners, with home equity supporting lifestyle so there will be little to be passed on.

......thing is if you throw money at people in the way of well over inflation property price rises and low interest rates people will borrow to spend it because they can't earn it in the normal way even if they would like to.....so for many years now the wealth of our nation is a bit of an illusion because the so called 'wealth' was built with debt and property price rises that only created more debt.......all is not what you see or think it is. ;)

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I think a lot of the young are saying, stuff the Rentier State and either planning to emigrate, or simply not bother. Quite frankly I can't blame them.

If you are an immigrant, its easy to rough it a few years. If you are a Brit its now highly likely you'll end with half your take home paying going to a rentier or paying his pension... for ever.

Many are wising up to the fact, that however much they work hard, any earnings gains will go to the rentiers or a bank.

Many pensioners are running their affairs like mini Michael Winners, with home equity supporting lifestyle so there will be little to be passed on.

With succesive UK govts four-square behind them having spent the thick-end of a trillion quid holding up house prices.

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I think a lot of the young are saying, stuff the Rentier State and either planning to emigrate, or simply not bother. Quite frankly I can't blame them.

As someone who is aged 40 and has just emigrated, I'd speculate that it's not just the young (in the traditional sense of the word).

As for the substance of his argument, I can't believe how economically illiterate Nelson is being. I've heard him a few times on Any Questions?, and he always struck me as relatively sensible. I can only presume that he's giving the main customer base for his magazine what they want to read, and thus protecting his own income, regardless of whether he actually believes it.

The process he's identified is essentially one whereby stored wealth (not even real wealth, given that a lot of the money in question is MEW-derived house value) is being transferred into the service sector economy. This is being staffed by, as he points out, low-paid older and immigrant workers. Buying meals in restaurants, holidays, and home improvement stuff from B & Q (most of which is imported from China) is not generating new wealth for UK PLC. Quite the opposite - in fact, it's adding to the national debt.

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As for the substance of his argument, I can't believe how economically illiterate Nelson is being. I've heard him a few times on Any Questions?, and he always struck me as relatively sensible. I can only presume that he's giving the main customer base for his magazine what they want to read, and thus protecting his own income, regardless of whether he actually believes it.

Just recently I think Fraser Nelson been "got at" or is just trolling or just trying to attract an audience or comment by 'link baiting.'

His last few articles have been on the lines, that we need the 1%, the 1% are good for us, and that CEO pay needs to rise.

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As someone who is aged 40 and has just emigrated, I'd speculate that it's not just the young (in the traditional sense of the word).

As for the substance of his argument, I can't believe how economically illiterate Nelson is being. I've heard him a few times on Any Questions?, and he always struck me as relatively sensible. I can only presume that he's giving the main customer base for his magazine what they want to read, and thus protecting his own income, regardless of whether he actually believes it.

The process he's identified is essentially one whereby stored wealth (not even real wealth, given that a lot of the money in question is MEW-derived house value) is being transferred into the service sector economy. This is being staffed by, as he points out, low-paid older and immigrant workers. Buying meals in restaurants, holidays, and home improvement stuff from B & Q (most of which is imported from China) is not generating new wealth for UK PLC. Quite the opposite - in fact, it's adding to the national debt.

Agree completely. I recently joined Twitter and 'followed' Nelson as a reasonable safe bet for some common sense articles, but most of what I've read has been poor quality, ill thought out, or both, although not all by him. I just 'unfollowed' him however. His Twitter exchange with the gentleman who wrote a thoughtful piece about whether to take the 'Right to Buy' shilling yesterday was bordering on idiocy, essentially telling him to take the money. I'll be happy to read the Nelson/Speccie pieces that survive a filtering process to turn up on HPC but most of the magazine seems to be lightweight sh*te, although that's the same as every other news publication so no surprise perhaps.

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Agree completely. I recently joined Twitter and 'followed' Nelson as a reasonable safe bet for some common sense articles, but most of what I've read has been poor quality, ill thought out, or both, although not all by him. I just 'unfollowed' him however. His Twitter exchange with the gentleman who wrote a thoughtful piece about whether to take the 'Right to Buy' shilling yesterday was bordering on idiocy, essentially telling him to take the money. I'll be happy to read the Nelson/Speccie pieces that survive a filtering process to turn up on HPC but most of the magazine seems to be lightweight sh*te, although that's the same as every other news publication so no surprise perhaps.

...a lot of their advertising revenue comes from property advertisers....conflict of interest here ...and all MPs with property 'OO' or 'BTL' must declare an interest before they vote on Osborne's 'Madness'...but will they ..?.... :rolleyes:

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...a lot of their advertising revenue comes from property advertisers....conflict of interest here ...and all MPs with property 'OO' or 'BTL' must declare an interest before they vote on Osborne's 'Madness'...but will they ..?.... :rolleyes:

HPC's website seems to derive rather a lot of revenue from property VIs too, doesn't seem to hold back the debate here :lol:

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'Today, 20 per cent of British youth are unemployed — but the jobs market still absorbs some 600 immigrants a day and more oldies than ever. It is hard to avoid the conclusion that jobs are there, for those who want to take them.'

Yeah, if you are ready to work for third world pay there is plenty of work. That is what the mass immigration at a time of mass unemployment is all about., driving people into poverty.

Meanwhile people are desperate for real jobs.

http://www.dailymail.co.uk/news/article-2352011/Up-160-graduates-chase-job-Leading-firms-increase-number-applications-role.html

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  • 242 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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