Thursday, June 24, 2010

Harsh choices face Western Europe

The age of easy credit is over

"The best and the brightest young Europeans may emigrate to countries without such burdens; and if the economy stagnates, those that remain may eventually decide either to default on their debts, or to cut benefits to the elderly." Tough luck granny, I'm off.

Posted by chrisch @ 10:14 PM (1405 views)
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12 thoughts on “Harsh choices face Western Europe

  • To date, granny’s had it rather good so … time for payback, biddy.

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  • mark wadsworth says:

    “Tough luck granny, I’m off.”

    Cue Mr G…

    On a related topic, a question I’d like answered is “Who benefits most from the existence of ‘the state’, as referee of the rules by which we all live? Is it the productive economy and working people, or landowners, homeowners, pensioners and the bloated public sector?”

    If it is the productive sector, then let’s hike taxes on incomes and output even more. If it is the latter group, then let’s think about reducing taxes on income and output and increasing taxes on, er… land values?

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  • “The best and the brightest young Europeans may emigrate to countries without such burdens”

    Just to clarify, where are these mysterious paradise-worlds where income taxes are low and the demographic profile is more favourable? Is there a steady flow of Spaniards moving to Latin America to find jobs? Are the Bangladeshis of east London returning to the motherland to seek out better careers? No?

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  • Enough Already says:

    [email protected]
    “To date, granny’s had it rather good so…. time for payback, biddy!”

    Brilliant observation. There’s nothing ‘biddy-ish” about the vast quantities of boomers I see shopping in M&S food hall while the young are all in the ‘poundshop’. Everything’s backwards!

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  • paul
    You must be a wonderful grandson for someone

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  • tyrellcorporation says:

    Soylent Green anyone?

    Egypt has an extremely good demographic structure:

    0-14 years: 31.8% no(male 13,292,961/female 12,690,711)
    15-64 years: 63.5% (male 26,257,440/female 25,627,390)
    65 years and over: 4.7% (male 1,636,560/female 2,208,455) (2008 est.)

    Not sure I want to live in Egypt though.

    ‘In common with other European countries, the UK has an ageing population. The proportion of people aged 65 and over is projected to increase from 16 per cent in 2008 to 23 per cent by 2033’

    Woooah, every 4th person to be a biddy or a codger by 2033. It really does beg the question, ‘who’s gonna pay for it all?’

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  • tyrellcorporation – They’ll pay for it themselves by working later in life.

    The trouble is, it’s hard enough to find employment at age 55+; how much harder will it be at 65+ ?

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  • I sure lots of young labour supplies from east Europe.

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  • the number cruncher says:

    MW @ 2

    I agree our state has some very bad points: It provides cover for vested interests to go rent seeking and puts the burden of taxation on the productive sectors while protecting the unproductive. But that is one side of the picture.

    Our state provides a system to minimise, crime, child prostitution, slavery, overt exploitation, illness and oppression, saftey from external aggression.

    The problem is not a simplistic problem of getting rid of aspects of the state, but a complex problem of eduction and reform to maximise the benefits of the state and prevention the functions of the state being subverted by economic rent seekers. Our old friend Henry George has most of the answers to this.

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  • Thenewdoctorwho says:

    Anyone remember that film Logan’s run? When I was a nipper, I used to think, cheers Grandad, I’m safe to run around in my Spiderman pyjamas because you fought Hilter and made this place safe. When I’m a Grandad, I guess it’s gonna be ‘you [email protected]@rd’ you spent all our money. Hence the Logan’s run reference. I suppose there will be no need for Pensions in that case.

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  • @LTF “paul
    You must be a wonderful grandson for someone”

    We don’t always agree but I’m with you 100% on this one!

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