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Daily Mash - pensioner thinks having a job once means he should get everything for free

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When I saw this posted on the Daily Mash twitter feed some codger had replied saying "I paid income tax for 50 years, I at least deserve a bus pass".

That feel when the Mash has your number.

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I k now this is satire but but........is the collective narrative moving against the Boomers........?

image.png.51ebe2b4dc938c87dd0b9ccd13af4dbe.png

Here is a Boomer Favourite above:

Some of these ships carry 5000 mostly elderly people...evacuting under any circumstances is problematic.....5000 not in the best shape individuals sounds an impossible task....

For a long time there have been outbreaks of illness in some cases leading to quarantine.....5000 capacity...how crazy is that ? These ships are far far too big but have been created to service a market and a generation the likes of which there has never been.....

All the while millenials cant buy homes and start families while the other boomer palaces sit empty on land...

 

 

Edited by Spindler

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9 minutes ago, Spindler said:

I k now this is satire but but........is the collective narrative moving against the Boomers........?

 

Yes, inevitably.

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47 minutes ago, Spindler said:

I k now this is satire but but........is the collective narrative moving against the Boomers........?

I think so …. I just hope that the collective narrative stays on the path of intergenerational financial fairness rather than "making it personal".

Too often any discussion simply de-generates unhelpfully into phrases of blame such as "greedy" (boomers to blame) "snowflakes" (millennials to blame) or "divide and conquer" (government/media to blame).  

However, there is an objectively measurable issue is that for their 40 odd years of work, the boomer generation has - on average - been rewarded with more than their parents or grandparents got, and more than their children or grandchildren seem on course to get.  That is the intergenerational financial fairness point that needs addressing.

Unfortunately it can't be addressed by "bringing everyone up to the boomer level" because that level is not financially sustainable (that's why final salary pensions have closed etc).  It can ONLY be addressed by - one way or another - removing some of the wealth of the richer members of that generation and redistributing it to other generations.  Which taxes and benefits precisely are the right ones to tweak to do so should be the matter of discussion, and not greedies vs snowflakes.

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An interesting point though is that as a member of Gen X I personally feel that what I've got is about "fair" - it feels like the boomers were over-provided for and the millennials under-provided for, and actually the situation I'm in is the long term average.

However, the key point about that is that I am lucky enough to have my own house.  If I didn't, then I'd probably feel hard done by.

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I think it will take a few more electoral cycles before my generation have the whip hand.   

I look on MoneySavingExpert and do not know what more I can now do to compete with these boomers.

I take a packed lunch to work every day. I’ve put my money into accounts with the best interest rates. I have both a HTB ISA and a LISA. I recently changed my sim only mobile plan to save a colossal £30 a year.  

 

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36 minutes ago, scottbeard said:

An interesting point though is that as a member of Gen X I personally feel that what I've got is about "fair" - it feels like the boomers were over-provided for and the millennials under-provided for, and actually the situation I'm in is the long term average.

However, the key point about that is that I am lucky enough to have my own house.  If I didn't, then I'd probably feel hard done by.

There is something I have noticed in some Boomers(I'm Gen X btw) they don;t seem to accept the aging process...i think they've had it so good they don;t like anything being taken away...and of course nature will take it away no matter what your wealth......and if you've been pigging out on  cruise ship or stuffing down trifle after a slap at meal pub lunch every day of the week and not keeping fit.....you're going to look like this:

image.png.8b00220fecd009f3fc403816979c4003.png

Sorry Rusell Grant to pick on you but you are a Boomer

Edited by Spindler

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" it feels like the boomers were over-provided for and the millennials under-provided for"

And those very same Boomers continue to vote for whats in it for them.....and now their generation is being viewed suspiciously as the concensus narrative changes as per the Onion satire......it starts with satire and then ends up as something else.....but they won;t listen

In this clip Farage asked the EU to behave reasonably with a trade deal...and he was jeered...the moderator says in German..."please stop you are behaving like UKIP even though you are rightly justified with your outbursts).....we have seen how they have behaved they took no notice of Farage's quite reasonable requests..the moderator showing immense bias....

It will be the same with the Boomers they will not accept anything and the screw will turn tighter against them..and age will take its course....they will not be missed...and History will judge them harshly

 

 

 

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Millennial resigns herself to having ‘plant babies’

That almost rings true ..thanks Boomers...Broon Bliar...Camoron...Osbonehead

 

Edited by Spindler

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20 minutes ago, Spindler said:

Millennial resigns herself to having ‘plant babies’

That almost rings true ..thanks Boomers...Broon Bliar...Camoron...Osbonehead

 

“Instead I’m putting all my energy into my ‘plant babies’. They’re less hassle than real children and you can still give them aspirational names. That spider plant’s called Crispian.

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1 hour ago, scottbeard said:

Unfortunately it can't be addressed by "bringing everyone up to the boomer level" because that level is not financially sustainable (that's why final salary pensions have closed etc).  It can ONLY be addressed by - one way or another - removing some of the wealth of the richer members of that generation and redistributing it to other generations.  

That mentality is what caused the problem in the first place: asking politicians to steal from others and redistribute to you. 

It doesn't work ( governments waste 50%) and it's not necessary. 

All that is required is a) stop others sponging and b) let people keep the fruits of their own labour. 

It doesn't take a genius to work out what happens if you vote for  politicians behaving like thieves...

 

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22 minutes ago, 24gray24 said:

That mentality is what caused the problem in the first place: asking politicians to steal from others and redistribute to you. 

It doesn't work ( governments waste 50%) and it's not necessary. 

All that is required is a) stop others sponging and b) let people keep the fruits of their own labour. 

It doesn't take a genius to work out what happens if you vote for  politicians behaving like thieves...

 

Trouble is politicians  in this country are only interested in 1) taxing the little people 2) doing just what they can for the largest cohort of the proles that will  vote for them...and sod whats best for the country.....party before country as always......there is no hope until the system changes.....

Osbourne blew a housing boom again just to get him and dave reelected....i persoally would both of them charged with malfeasance in public office.....no chance of that then.....but the fantasy of them facing jail time(not going to happen is actually just what this country needs......Blair put on trial for treason to boot

 

Assange treated like Jack the Ripper just for skipping bail on a load of *********s charge (that was dropped)and these people who have done so much damage walk free...

That copper smiling really irks me...

https://www.theguardian.com/uk-news/video/2019/apr/11/julian-assange-removed-from-ecuadorian-embassy-in-london-video

Edited by Spindler

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2 hours ago, DonJop12 said:

I think it will take a few more electoral cycles before my generation have the whip hand.   

Agreed. I think the power shift will happen at some point in the 2020s but patience on the scale of 5-10 years is needed, not 1-2 years. There are already some signs of power shifting to the post-1975 babies like the rise of Corbyn, the crushing of the Lib Dems and Theresa May's lost majority but it's not yet enough for politicians to abandon high asset prices and the current level of transfers from young to old.

Edited by Dorkins

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" current level of transfers from young to old. "

Some boomer on This is Money once commented... if you didnt take advantage of buying a house in the 90's or 00's then you were a ruddy fool....there was no chance after that

My reply was completely lost on the geriatrics brain....so what if you were born in the 90's and coming of age in the 00;'s.....should the fetus/the toddler/the adolescent have rushed out  and signed up to a mortgage ?

Sorry Mr Fetus you need to be 18 to sign these papers...

Never underestimate how stupid some Boomers are...the good side is the ones in BTL with leverage won;t see the steamroller until it runs them over...like you see now on the property boards trying to understand s24....let alone MMR if they are even hoping to flog to a FTB in the absence of one of their BTL brethen

Edited by Spindler

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7 minutes ago, Dorkins said:

Agreed. I think the power shift will happen at some point in the 2020s but patience on the scale of 5-10 years is needed, not 1-2 years. There are already some signs of power shifting to the post-1975 babies like the rise of Corbyn, the crushing of the Lib Dems and Theresa May's lost majority but it's not yet enough for politicians to abandon high asset prices and the current level of transfers from young to old.

+1

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I think it a little more nuanced than Boomers gain from HPI everyone else loses.  Some people (not many) born in the 70s got cheap houses thank to the ERM crash.  Boomers (and everyone else of course) who got divorced post 2003 really lost because of HPI.

 

2 hours ago, Spindler said:

 

Some boomer on This is Money once commented... if you didnt take advantage of buying a house in the 90's or 00's then you were a ruddy fool....there was no chance after that

 

Please tell me that is not true. 

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3 hours ago, Spindler said:

" current level of transfers from young to old. "

Some boomer on This is Money once commented... if you didnt take advantage of buying a house in the 90's or 00's then you were a ruddy fool....there was no chance after that

My reply was completely lost on the geriatrics brain....so what if you were born in the 90's and coming of age in the 00;'s.....should the fetus/the toddler/the adolescent have rushed out  and signed up to a mortgage ?

Sorry Mr Fetus you need to be 18 to sign these papers...

Yup. As an older Millennial (born early 1980s) I am in a better economic situation than the younger ones and GenZ as tuition fees were low when I went to university (£1.5k pa), unpaid internships didn't really exist and entry-level wages were better than they are now but still, when I turned 18 we were already in the 20-30% HPI pa years of the early 2000s and when I finished university in the mid 2000s house prices had already almost tripled in a decade (more in London/SE).

There's a whole generation whose grim future of decades spent looking at a landlord's magnolia walls and hoping that they wouldn't get a S21 this month was decided while they were still in school uniform.

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39 minutes ago, Dorkins said:

Yup. As an older Millennial (born early 1980s) I am in a better economic situation than the younger ones and GenZ as tuition fees were low when I went to university (£1.5k pa), unpaid internships didn't really exist and entry-level wages were better than they are now but still, when I turned 18 we were already in the 20-30% HPI pa years of the early 2000s and when I finished university in the mid 2000s house prices had already almost tripled in a decade (more in London/SE).

There's a whole generation whose grim future of decades spent looking at a landlord's magnolia walls and hoping that they wouldn't get a S21 this month was decided while they were still in school uniform.

well i have said if we don't get a significant correction by 2022 we never will....but for now things are going the way I have thought since end 2015.....so the ball is in play for that to happen imo

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4 hours ago, Spindler said:

Trouble is politicians  in this country are only interested in 1) taxing the little people 2) doing just what they can for the largest cohort of the proles that will  vote for them...and sod whats best for the country.....party before country as always......there is no hope until the system changes.....

Osbourne blew a housing boom again just to get him and dave reelected....i persoally would both of them charged with malfeasance in public office.....no chance of that then.....but the fantasy of them facing jail time(not going to happen is actually just what this country needs......Blair put on trial for treason to boot

 

Assange treated like Jack the Ripper just for skipping bail on a load of *********s charge (that was dropped)and these people who have done so much damage walk free...

That copper smiling really irks me...

https://www.theguardian.com/uk-news/video/2019/apr/11/julian-assange-removed-from-ecuadorian-embassy-in-london-video

"Assange treated like Jack the Ripper just for skipping bail on a load of *********s charge (that was dropped)and these people who have done so much damage walk free...   That copper smiling really irks me..."

https://www.theguardian.com/uk-news/video/2019/apr/11/julian-assange-removed-from-ecuadorian-embassy-in-london-video

 

Looking at this on Zerohedge the Martin Luther King quote reminded me of that chinese proverb

"He who speaks the truth needs a fast horse"

https://www.zerohedge.com/news/2019-05-18/ilargi-julian-assange-todays-martin-luther-king

Edited by Spindler

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12 minutes ago, Spindler said:

well i have said if we don't get a significant correction by 2022 we never will....but for now things are going the way I have thought since end 2015.....so the ball is in play for that to happen imo

My guess is that it might be by 2025, but then again it could be 2027 or 2030. The thing I am confident about is that people will be astonished by how low property will go in terms of wage multiples even for 'desirable family homes' in 'nice areas' that are supposedly 'crash-proof' and we will hit full revulsion in residential property as an investment class. Your coworkers and parents will be telling you not to touch it with a barge pole, property is a risky moneypit and you should be buying shares/dollars/crypto/putting it in a pension/whatever. Bubbles are all about human psychology and humans never really change, the longer property is the best thing since sliced bread which you can't lose on the bigger the negative overreaction will be when it turns.

Edited by Dorkins

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i bought first in 92 after the 89/90 crash....the 90's was full of horror stories....property did not start to recover until 99...only because of Brown and a new credit bubble.....people got burned badly in the 90's....what lies ahead makes the 90's look like a picnic.....we are looking at a japanese style crash.....i figure decades where property is considered a toxic investment....the first to be cast on the heap will be the HTB buyers....I'm sorry for them but they put themselves there.....you could see properties 30% of what they borrowed to purchase.....

in 2015 i was on a balcony overlooking some apartments in Charlotte North Carolina.....1 million at height of boom....2015 value 250k.....these things have happened and they will happen again.....anyone who thinks it cannot happen here is folling themselves and probably says things like" not enough houses" like they even thought up that statement themselves......

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Closer to home Eire////Northern Ireland.....Cyprus...Netherlands.....Spain.......still not enough houses here lol.....they said that in Spain.....turns out they had a one million surplus from the overbuilding........and i telll you what i'd rather have a spanish flat than a UK leasehold......you own the spanish flat....they dont know what the **** leasehold is !!

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1 hour ago, Dorkins said:

My guess is that it might be by 2025, but then again it could be 2027 or 2030. The thing I am confident about is that people will be astonished by how low property will go in terms of wage multiples even for 'desirable family homes' in 'nice areas' that are supposedly 'crash-proof' and we will hit full revulsion in residential property as an investment class. Your coworkers and parents will be telling you not to touch it with a barge pole, property is a risky moneypit and you should be buying shares/dollars/crypto/putting it in a pension/whatever. Bubbles are all about human psychology and humans never really change, the longer property is the best thing since sliced bread which you can't lose on the bigger the negative overreaction will be when it turns.

Based on demographic dynamics

 

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.federalreserve.gov/Pubs/ifdp/2005/847/IFDP847.pdf&ved=2ahUKEwihoLbwhqjiAhVdSxUIHc-pDksQFjADegQICRAC&usg=AOvVaw0de58FD76mtO3mwqFp69ov&cshid=1558285178515

 

 

Screenshot_20190519-175336~2.png

Edited by Si1

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  • 312 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% +
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