Jump to content
House Price Crash Forum
Sign in to follow this  
fru-gal

"Have baby boomers stolen the family silver?"

Recommended Posts

No the government stole it but the boomers allowed them to do it since they did nicely out of it themselves.

Boomers aren't the ones who spend trillions on warmongering, trident, the monarchy or in handouts to their CEO mates. They're traitors but they're not the thieves themselves. 

Boomers sold their souls in return for a house, guaranteed pension and Saga cruises. 

Edited by EnglishinWales

Share this post


Link to post
Share on other sites

Seems to be a confusion between income and capital in Mason's article. Add on capital gains and the millenials hand is truly busted, any lifetime earnings advantage is irrelevant.

Share this post


Link to post
Share on other sites

The biggest problem is pensions, unfunded pensions.

These are being subbed via the PRS using tax from people who get fckall.

Pensions should be left to fail. Pensionerd should get a haircut.

All public sector pensions should be fully funded as the entutkement occurs.

Share this post


Link to post
Share on other sites

There will never be a luckier generation than the boomers - they just lucked out in every way.   The only way a future generation can have a better life than them would be to have a total revolution as to how the world works.  Unfortunately, there are too many VIs underpinning and enforcing how the world works today.  We are just being farmed.

Share this post


Link to post
Share on other sites
On 10/01/2017 at 2:17 PM, fru-gal said:

Baby boomers, people born between 1946 and 1965, will on average earn £740,000 during their lives, according to the Resolution Foundation.

Generation X, those now aged between 35 and 50, are projected to earn 13% more than that - £835,000 on average.

But the figure for millennials, the under-35s, is lower than that - they are forecast to earn £825,000 over their working lives.

Not clear if these are inflation adjusted. That said, if the average is something around £800k, then how can people expect £8k per year pension for 30 years, plus £70k NHS care, plus £100k social care, and still expect to benefit from Policing, the Army, etc.

I definitely side with cutting income tax and abolishing most benefits.

The above earnings are pathetic and a testament to the general crapness of the average worker and a lack of investment by British industry.

 

Share this post


Link to post
Share on other sites
On 11/01/2017 at 7:23 AM, EnglishinWales said:

http://uk.businessinsider.com/how-baby-boomers-became-the-most-selfish-generation-2016-11?r=US&IR=T

Good article. American bias but the points apply to Britain as well I think.

Someone really needs to warn the boomers that the millennials are coming for them.

 

The boomers were also responsible for cutting back on things like training and capital investment in the UK.

So from my earlier post, the general crapness of the average British worker and lack of capital investment, is entirely down to boomer decisions.

I'm GenX, and I am now in the interesting position of having to impart knowledge to Millennials. I actually feel sorry for them as I think they have been somewhat stunted in terms of opportunity and learning.  I say this as I had a total top notch educational paid for by the state and think it has left me mentally fitter despite being 10-15 years older than the millennials.

I often recall the saying that the key thing with University is that it teaches you how to learn. My worry now is that a lot of the incoming workers are actually less able to learn than pre-senility 55 and 60 year olds.  Despite now being a manager, and not that hands on, I can keep up better with new developments than the younger staff.

 

 

 

Share this post


Link to post
Share on other sites

Gen X do seem to be in a bit of a sweet spot these days. Good jobs, houses bought at reasonable prices, no student debt...and they've escaped the hate the boomers are getting. 70s was obviously the best time to be born.

Share this post


Link to post
Share on other sites
On 10/01/2017 at 8:35 PM, spyguy said:

The biggest problem is pensions, unfunded pensions.

These are being subbed via the PRS using tax from people who get fckall.

Pensions should be left to fail. Pensionerd should get a haircut.

All public sector pensions should be fully funded as the entutkement occurs.

Agree 100%

We need unshackle the real economy, rather than pretending that past work, the proceeds of which were never invested, somehow entitles you to extract labour value from today's workers.

Share this post


Link to post
Share on other sites
On 16/01/2017 at 5:01 PM, EnglishinWales said:

Gen X do seem to be in a bit of a sweet spot these days. Good jobs, houses bought at reasonable prices, no student debt...and they've escaped the hate the boomers are getting. 70s was obviously the best time to be born.

When it comes to finances and economics the oldest end of the Gen X spectrum (born late 60s) have a very different experience to those at the youngest end (born early 80s)- they are the generation that first felt things turning for the worst.  Maybe its because their attitude, expectations and outlook on life are different that keeps them from such hate.

Share this post


Link to post
Share on other sites
On 16/01/2017 at 5:01 PM, EnglishinWales said:

Gen X do seem to be in a bit of a sweet spot these days. Good jobs, houses bought at reasonable prices, no student debt...and they've escaped the hate the boomers are getting. 70s was obviously the best time to be born.

I'm glad I was born in the 70s compared to the last two or three decades (if nothing else it means less crappy future to see), but houses bought at reasonable prices? Early 70s perhaps, mid, you needed to get in pretty early on, working a few years to save up meant running into HPI.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Next General Election   90 members have voted

    1. 1. When do you predict the next general election will be held?


      • 2019
      • 2020
      • 2021
      • 2022

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.