The brits are in for a rough ride

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ElFenix

Elite Member
Super Moderator
Mar 20, 2000
102,425
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Adding onto the boomers ruined everything narrative:

"You’ve probably heard about the “great wealth transfer.” It's the $72 trillion stack of assets that baby boomers are sitting on and going to pass onto millennials someday, thereby solving many of the economically beleaguered younger generation's problems. But there was another, even more “massive” wealth transfer from the government to the baby boomers over the last 40 years, according to Bank of America Research."


 
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Paratus

Lifer
Jun 4, 2004
16,840
13,765
146
Adding onto the boomers ruined everything narrative:

"You’ve probably heard about the “great wealth transfer.” It's the $72 trillion stack of assets that baby boomers are sitting on and going to pass onto millennials someday, thereby solving many of the economically beleaguered younger generation's problems. But there was another, even more “massive” wealth transfer from the government to the baby boomers over the last 40 years, according to Bank of America Research."


But Boomers earned all of that money. At no time did the government help them. They were the ones who jumped on those low mortgage rates. They were the ones who slaved away at minimum wage jobs for a summer to pay for college. /s


In a slightly less sarcastic tone I note another article where Gen-X isn’t mentioned at all.
 
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pmv

Lifer
May 30, 2008
13,271
8,197
136
Adding onto the boomers ruined everything narrative:

"You’ve probably heard about the “great wealth transfer.” It's the $72 trillion stack of assets that baby boomers are sitting on and going to pass onto millennials someday, thereby solving many of the economically beleaguered younger generation's problems. But there was another, even more “massive” wealth transfer from the government to the baby boomers over the last 40 years, according to Bank of America Research."



The main issue with that $72 trillion (leaving aside the topic of the article) is that it's not distributed in any way evenly. That the post-Boomer generations are left so reliant on inheritance just greatly increases the inequality _within_ generations. Many won't inherit anything.
 

hal2kilo

Lifer
Feb 24, 2009
23,647
10,507
136
Adding onto the boomers ruined everything narrative:

"You’ve probably heard about the “great wealth transfer.” It's the $72 trillion stack of assets that baby boomers are sitting on and going to pass onto millennials someday, thereby solving many of the economically beleaguered younger generation's problems. But there was another, even more “massive” wealth transfer from the government to the baby boomers over the last 40 years, according to Bank of America Research."


Same as it ever was. And a lot of the pent up money is already earmarked for the nursing home vultures to suck up. Cure Altheimer's!
 
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pmv

Lifer
May 30, 2008
13,271
8,197
136
Curious that Johnson was so callous regarding the elderly, given they disproportionately voted for him. Though perhaps the complication is that it's those around 65-75 who vote Tory, not the over-80s, who were most at risk from COVID?

On the other hand, perhaps the Tories have the same trait as Trump, of being rather contemptuous of their own voters?


Let “the bodies pile high in their thousands”, Boris Johnson supposedly said. Not once but often, the Covid inquiry has heard that he was for killing off elderly people, “obsessed with older people accepting their fate”. According to the invaluable diary of the chief scientific adviser, Sir Patrick Vallance, our prime minister was saying “that’s nature’s way of dealing with old people” as he complained “we are destroying the economy for people who will die anyway soon”.

It wasn’t just him. The chief whip, Mark Spencer, allegedly said: “I think we should let the old people get it and protect the others”, to which Johnson replied: “A lot of my backbenchers agree with that, and I must say I agree with them.” So this was not one irritable remark, but a theme aired many times around tables where people didn’t get up and leave the room: many are still in government, presumably including Rishi Sunak, the eat-out-to-help-spread-Covid chancellor at the time.

Johnson’s delinquent Covid policy still has prominent supporters. Jacob Rees-Mogg said on GB News: “Boris Johnson’s instincts on lockdown and Covid policy were broadly right.” The inquiry heard that the cabinet secretary, Mark Sedwill, suggested a herd immunity policy of deliberately spreading Covid, like chickenpox parties for children: that seems to have happened in care homes.

Those who feel more strongly than I do about Brexit might see a certain irony in the bit about "we are destroying the economy for people who will die anyway soon” (I can't get _too_ worked up about Brexit because I can't help but think things are mostly FUBAR whether we are in or out - it's only a small part of the problem).
 
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pmv

Lifer
May 30, 2008
13,271
8,197
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"Well, Prime Minister, there's good news and there's bad news.

The good news is that every poll shows a Conservative lead. The bad news is that in every case that lead is a large negative number."


 

pmv

Lifer
May 30, 2008
13,271
8,197
136
Sunak clamps down on free speech, and, perhaps more alarmingly, tries to openly politicise policing, like the good little tool of fascists that he is (I don't believe he's personally a fascist, he's much too weak, directionless and ineffectual for that, he's just their figurehead and glove-puppet).

 

pmv

Lifer
May 30, 2008
13,271
8,197
136
So unutterably strange that the new Enoch Powell (bordering on the new Oswold Mosely) turns out to be a South Asian woman. Would love to know what Powell himself would have made of Braverman.

I mean now she's stirring up far right-wing mobs to attack the police. While being in charge of the police!
 
Reactions: KMFJD
Jul 27, 2020
17,855
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I mean now she's stirring up far right-wing mobs to attack the police. While being in charge of the police!
Sunak and Braverman are both Monkeys. I'm a Monkey. I could have told those two idiots that being in office is a terrible job for them. Careerwise, we are more suited to being accountants or something to do with real estate. Oh wait. Maybe they ARE doing that. Counting their money they are making on the side in shady real estate deals while pretending to have all the answers in office!

Sneaky bastards, these Monkeys!
 

pmv

Lifer
May 30, 2008
13,271
8,197
136
Sunak and Braverman are both Monkeys. I'm a Monkey. I could have told those two idiots that being in office is a terrible job for them. Careerwise, we are more suited to being accountants or something to do with real estate. Oh wait. Maybe they ARE doing that. Counting their money they are making on the side in shady real estate deals while pretending to have all the answers in office!

Sneaky bastards, these Monkeys!

*Wince*
I'm pretty sure you don't mean it that way, but you should be careful about using that word when referring to two "persons of colour".

I think Braverman is a deeply nasty character. I reckon there is something seriously _wrong_ with her. She's quite openly angling to gain the support of the far-right for when she makes her move for the top job. I don't know why she believes that the kind of far-right thugs she's aiming her rhetoric at constitute some sort of electoral power base - pretty sure she's delusional about that.

Sunak, I don't know about, I suspect he's just a jellyfish, who doesn't really believe in anything and only wants the job to look good on his CV when he moves on to apply for finance sector jobs in the US. His failure to fire Braverman, who treats him with open contempt, makes him look staggeringly weak.
 

KMFJD

Lifer
Aug 11, 2005
29,666
43,883
136
It's so unfortunate that Labour has turned into Tory light with Starmers 'leadership'
 

sdifox

No Lifer
Sep 30, 2005
96,112
15,761
126
Cameron is not a MP, so we'll just induct him into the House of Lords (Life Peerage) so he can be the Foreign Secretary.
 
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