Re: The General Election Thread : Sat May 09, 2015 10:55 am
General Zod. wrote:
The collapse of the country will be a good thing to wipe out baby boomer's pensions and their two holidays a year, and instead allow the young people of this country at least a fairer society - even though a poorer one.
Ajw71 wrote:
Opinions such as this belong in the dark ages.
Typically predictable comment from a typical economically illiterate tory.
When I say a "poorer society" I mean in the context of it being an inevitably - not a desire, but because you have a picture of Thatcher, you won't have an understanding of how wealth disparity happens and understand that Thatcher's legacy is a country on the road to default.
It is fact that the biggest gain of wealth for asset holders happened from the late '80s up to the financial crash - a large proportion of these asset holders where obviously baby boomers gained their wealth through property prices and pensions with large holdings in UK Government bonds.
So this group of people with their "I've worked for what I've got attitude" lack the understanding that they haven't actually "worked for what they've got" they've simply fell into the "rentier class" as a result of loose monetary policy and wealth transfer schemes such as "Help to Buy" which means hard work young people feed asset prices so baby boomers can use their pensions to go on their two holidays abroad a year.
A collapse of the bond market will simply be the laws of mathematics taking the course of "reverting to the mean" so all these pensions will get wiped out and the country will have to start producing again which will create jobs for young people.
Make no mistake about it; there will be no reflation of the bubble economy next time round.
As so happens when I debate with Tories, they act as if they're smug and knowledgable with their stock phrases such as "we have a strong economy" and as soon as I start schooling them they disappear - I expect you'll be no different.