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"the Ipod Generation 'left To Face Future Of Debt'"

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http://www.telegraph.co.uk/news/main.jhtml...7/nblair727.xml

The iPod generation 'left to face future of debt'
By George Jones, Political Editor
Last Updated: 7:05am BST 27/06/2007
Tony Blair's policies have left a generation of young people facing an effective tax burden of almost 50 per cent, including repaying student loans and providing for pensions, an audit of his decade in power claims today.
Tony Blair: The verdict: The iPod generation ' left to face future of debt'
The next generation of political leaders are urged to learn from the lessons of the Blair decade
The so-called iPod generation will be worse off than their parents, who have benefited from rising property prices and spending on health and pensions....../
While earnings had increased by 28 per cent since 1999, the price of the average first-time property has nearly doubled.
As a result, first time property prices are now more than eight times higher than the median earnings of 22- to 29-year-olds - they were only five times higher in 1999.
A survey by Nationwide, the mortgage lender, showed that only 20 per cent of first-time buyers were aged 20 to 24, down from 30 per cent 10 years ago. Only 20 per cent of 20- to 24-year-olds are homeowners, down from 34 per cent 10 years ago.
"It is very striking that the Prime Minister said in a recent interview that the key economic challenge had changed from recession to trying to help young couples get their feet on the housing ladder.

The only point I disagree with is that the older folk are better off due to the rise in the "value" of their homes. Merv was correct when he said that the value of your home in a bubble market was just opinion whereas the debt behind it was real. HPI has benefited no one other than those who flipped at the right time or went STR before the downturn began.

There is no point in suggesting that Gordon's miracle only impacts one generation. It has destroyed the lives of hundreds of thousands across every generational line and more particularly the very old and vulnerable. E.g. pensioners are being told to pay 91% more in council taxes since Gordon came to power simply because the "value" of their home had tripled in the tens year of inflationary policies. You can't buy much bread with the "value" of your home.

Bottom line: 90% of us are worse off after the miracle economy.

The point is that NuLabour have indebted the nation at large. Taxes are up and hidden by the Gordon's cunning cloaking device called HPI-MEW-BTL. The Con of a century IMO.

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Ipod generation :angry:

I bet Apple can't believe their luck that the new generation has been named after their product.

I agree that most are worse off since the late 90's but the ones that have done ok are the people trying to move with the times...ie, borrowing too much to get onto the property ladder. Not saying it is the right thing but it has happened.

Ps, I don't own an Ipod, i've got a cheaper mp3 player that won't store all of my 20 year cd collection...only for someone to probably steal it at some point ;)

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I bought my first ipod and it arrived yesterday…

It didn’t work.

Well it did for a few moments then wouldn’t sync again.

(and no, it is the device I tried different cables, different boots on my PC (Vista and XP and 2003) and different USB ports and then another Ipod which worked)

It is very cool though, I tunes sucks badly…

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Tony Blair's policies have left a generation of young people facing an effective tax burden of almost 50 per cent, including repaying student loans and providing for pensions, an audit of his decade in power claims today.

Funny most of the media have not mentioned the housing disaster--possibly because the perception is that it was down to Gordon and his miracle rather than Tony and his NUnational Socialist policies.

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Guest Farticus

You have conspir'd against our royal person,

Join'd with an enemy proclaim'd, and from his coffers

Receiv'd the golden earnest of our death;

Wherein you would have sold your king to slaughter,

His princes and his peers to servitude,

His subjects to oppression and contempt,

And his whole kingdom into desolation.

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Guest Shedfish
You have conspir'd against our royal person,

Join'd with an enemy proclaim'd, and from his coffers

Receiv'd the golden earnest of our death;

Wherein you would have sold your king to slaughter,

His princes and his peers to servitude,

His subjects to oppression and contempt,

And his whole kingdom into desolation.

cracking avatar!

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