The benefit of long-term house-price growth

StevieJ

mower5 wrote: »

Nice people my folks I am not having a go at individuals but at the overall effects the generation is having.
I am interested in baby boomers, my thinking is that, 17 million are going to retire in the next few years (if they can afford too as Generali suggests). The boomers in the old saying are the "pig in the Python". That number of people all in their late middle age VOTE in huge numbers, therefore the politicians are going to try and keep on their side. I am simply trying to kick a few ideas around.

I think we should change our calendar to BT/AT i.e. Before/After Thatcher. BT people were opimistic strived for a better future (many had decent pensions for old age) AT people were greedy, optimism went out of the window, real wages started to deteriorate, pensions (well you know that story).

bubblesmoney

StevieJ wrote: »

I think we should change our calendar to BT/AT i.e. Before/After Thatcher. BT people were opimistic strived for a better future (many had decent pensions for old age) AT people were greedy, optimism went out of the window, real wages started to deteriorate, pensions (well you know that story).

i think we should change our calendar to BB/AB

B/B =

• before boom
• or before brown might be preferable for some (in honour of the no more boom and bust theory of the worlds greatest economist)

A/B=

• after bust
• after brown for similar reasons as above

HelpWhereIcan

I remember learning about the 'pig in the python' in o level economics classes in the mid 80s.

I recall my teacher* telling us that no government would have the political strength of will and purpose to address the issue and that I could expect for me and my children to be paying through the nose for the pension and healthcare promises made to his generation without the hope of getting the same ourselves.

I do agree that babyboomers are 'spoiled' but the fact that no government of any persuasion has been or is willing to address the consequences is not confined to the current crisis and has many more decades to run.

* the same guy also made us sit through the budget announcement on the radio one year before quizzing a load of confused and disintered 14 year olds about the implications of the budget. How I wish I had listened properly when he "went off on one". I suspect I would have learned a lot.

Old_Slaphead

StevieJ wrote: »

I think we should change our calendar to BT/AT i.e. Before/After Thatcher. BT people were opimistic strived for a better future (many had decent pensions for old age) AT people were greedy, optimism went out of the window, real wages started to deteriorate, pensions (well you know that story).

You obviously weren't around BT.

3 day week, winter of discontent, constant strikes, militant unions. The 70s really were dark days (literally)

Although deregulation of the city in the 80s led to a greed culture in certain sectors I think it was much less pervasive than the current bankers bonus culture and it certainly didn't have the same catastrophic global effect.

Whatever else Thatcher did (and maybe she was in power a bit too long) at least you know where you stood with her. She set out her policies and she stuck to them. Unlike this vacillating crowd we now have in who've not the foggiest idea what's going on around them or how to resolve the problems they've created or have occurred on their watch.

HelpWhereIcan

Old_Slaphead wrote: »

You obviously weren't around BT.

3 day week, winter of discontent, constant strikes, militant unions. The 70s really were dark days (literally)

and some argue that NuLab and Broon have put us back on the path to those days (and the painful measures that will be needed to end them) again

Old_Slaphead wrote: »

Whatever else Thatcher did (and maybe she was in power a bit too long) at least you know where you stood with her. She set out her policies and she stuck to them. Unlike this vacillating crowd we now have in who've not the foggiest idea what's going on around them or how to resolve the problems they've created or have occurred on their watch.

and to be fair you also knew what Kinnock, Owen and Steele stood for - let alone Tony Benn.

The convergence of our political parties started by Nulab has stripped them of any ability to have the courage of their convictions.

StevieJ

Old_Slaphead wrote: »

You obviously weren't around BT.

3 day week, winter of discontent, constant strikes, militant unions. The 70s really were dark days (literally) .

Yes that was when the workforce actually stuck up for themselves instead of being Neutered Lapdogs. At the time it was implied that if the workforce behaved themselves then the future would be very bright :rotfl:

exil

Old_Slaphead wrote: »

You obviously weren't around BT.

3 day week, winter of discontent, constant strikes, militant unions. The 70s really were dark days (literally)

Although deregulation of the city in the 80s led to a greed culture in certain sectors I think it was much less pervasive than the current bankers bonus culture and it certainly didn't have the same catastrophic global effect.

Whatever else Thatcher did (and maybe she was in power a bit too long) at least you know where you stood with her. She set out her policies and she stuck to them. Unlike this vacillating crowd we now have in who've not the foggiest idea what's going on around them or how to resolve the problems they've created or have occurred on their watch.

The 80s were far worse than the 70s. 3 million unemployed instead of 1 million. 1/3 of manufacturing industry closed down in a year or so.

However - they were both worse than what's happened today (so far).

Actually all governments are doing much the same thing to deal with this crisis, whether they're socialist or conservative. I have no idea if these measures will work and no doubt neither do the governments themselves. No-one has come up with a "Plan B" - not even David Cameron.

Generali

exil wrote: »

The 80s were far worse than the 70s. 3 million unemployed instead of 1 million. 1/3 of manufacturing industry closed down in a year or so.

However - they were both worse than what's happened today (so far).

The problems in the 1980s were caused by Governments (especially but not exclusively Labour ones) papering over the cracks in the 1970s rather than addressing the problems of the economy - namely that nationalised industries were uncompetitive and producing products people didn't want to buy largely due to huge union power.

HelpWhereIcan

I remember my cousins (large Catholic family with 20 yrs from youngest to oldest cousin) ranging from those who worked at ICI in very protected jobs due to the strength of the unions to those who were unable to get anything but the YTS which saw them going from one firm to another, never getting a proper job or apprenticeship.

The younger ones (still older than me) virtually all ended up in service based jobs or the likes of police/army rather than the family tradition of the mines/ICI. (obviously ignoring those who got a degree because of the hard work put in by our parent's generation).

To look back on the 70s or 80s with any kind on nostalgia is ridiculous. The working man in Britain was no better off despite the strength of the unions. In my opinion globalisation would have done job Maggie did no matter what the unions thought (and that is blasphemy where I come from).

Mary_Hartnell

As a baby boomer now getting 1% on DH's savings, I think we have been the first to be shafted by this print your way out of debt exercise.

Any one know the figures for house prices in Argentina in both local currency and say Swiss Francs?
I bet there has never been a 10 year period in which property prices went down in terms of local currency.