Lest the younger ones on here misunderstand, not all oldies are well off.
Yes, if you bought a house at the start of the bubble and sold before the burst, downsized (usually to help the family onto the yellow brick road) and bought an annuity before the crash. But most are not in that position and have scrimped and saved for their retirement usually to give most of it away to their much better off offspring.
Not all of the younger ones are badly off. The professional classes, for example, are much better off than their predecessors were, they pay themselves excessive wages and they are paying much less interest on their excessive mortgages than they were before the crash. The gap between rich and poor keeps growing.
Those that are suffering as always are the poor and misguided. The PANIC generation (Permanently Adolescent Narcissistic i Consumers) of whom you talk were those who caused the crash along with the stupid politicians and big business of an older priviliged class. It suits them to spread misinformation to prevent an uprising.
What this country has done is allowed the rich, and rich companies, to syphon off the wealth for years. Currently they are in a panic as a realisation is beginning to dawn on some people, that they have been had.
But the good old press and BBC will be propped up again in order to suppress and misinform until the public settle down again.
As I have said before on here, none of my 4 have a smaller 2nd TV than my main one.
↧