Crunch Time: A crisis that is dividing young and old

needahome_2

The economic crisis this time could well be worse and it is not clear who the main casualties will be. I do, however, get a sense that a big division is opening up between the generations.

Younger people are worried about jobs and expect the Government to do what it can - including using inflationary policies - to fight unemployment. Many are also burdened by debt, particularly mortgages, and want relief in the form of low interest rates. Many older, retired people have different - indeed opposite --concerns. They are unlikely to have a debt problem and a job to lose. They are worried about inflation and are angry about low interest rates and poor annuities that deprive them of income to supplement the State pension.

http://www.thisismoney.co.uk/news/columnists/article.html?in_article_id=481783&in_page_id=19&in_author_id=2326

To be honest after the great generational theft of the past decade I don't give two fvcks about the hardship of the pensioners.

pink_princess

needahome wrote: »

I don't give two fvcks about the hardship of the pensioners.

Nice comment.:rolleyes:

misskool

needahome wrote: »

To be honest after the great generational theft of the past decade I don't give two fvcks about the hardship of the pensioners.

Can I come back to you on this comment when you're a pensioner and trying to decide whether to pay your gas bill or have food for the week?

Old_Slaphead

needahome wrote: »

To be honest after the great generational theft of the past decade I don't give two fvcks about the hardship of the pensioners.

Okie dokey - we'll just have to job block you for a bit longer then.

BTW what "great generational theft" is that ?

krisskross

I don't understand what the problem is with us pensioners. We lived through interest rates so high they made your eyes water.

The £ devalued.

A time of very little in welfare benefits. You had what you earned.

At least today you do have protection if you lose your job, no one needs to starve.

needahome_2

Old_Slaphead wrote: »

Okie dokey - we'll just have to job block you for a bit longer then.

BTW what "great generational theft" is that ?

I had to pay for my university education, they got theirs for free.

They got final salary pensions, I don't

I've got to work longer than they did, to pay for their greed.

They bought their homes a lot cheaper then we do in relation to their wages.

need I go on ?

neas

i belive he is refering to how your old nan bougt her house for 8,000 pound which is now worth 400,000..... where the salary your old nan bought the house for has not risen at any magnitude near the same as the house price has.

Ever increasing 'wealth' diverted from young indebted generation to older generation. Isnt it ovious what he meant? :P

staffie1

needahome wrote: »

The economic crisis this time could well be worse and it is not clear who the main casualties will be. I do, however, get a sense that a big division is opening up between the generations.

Younger people are worried about jobs and expect the Government to do what it can - including using inflationary policies - to fight unemployment. Many are also burdened by debt, particularly mortgages, and want relief in the form of low interest rates. Many older, retired people have different - indeed opposite --concerns. They are unlikely to have a debt problem and a job to lose. They are worried about inflation and are angry about low interest rates and poor annuities that deprive them of income to supplement the State pension.

http://www.thisismoney.co.uk/news/columnists/article.html?in_article_id=481783&in_page_id=19&in_author_id=2326

To be honest after the great generational theft of the past decade I don't give two fvcks about the hardship of the pensioners.

You're never going to get old yourself then ? I don't think you know about the real hardship that a lot of pensioners have to endure. They have their pride and manage the best way they can without moaning about it - most of them. My parents are a prime example.

And quite frankly I don't give a toss about younger people who have saddled themselves with so much debt over the last few years that they would never be able to pay it back if they lived to be 150. That's their own fault.

*MF*

Both now, and ongoing - another divide is related to those with pensions from the public sector, and those with diminishing or no pensions from the private sector

(Fred Goodwin excepted.) :mad:

needahome_2

krisskross wrote: »

I don't understand what the problem is with us pensioners. We lived through interest rates so high they made your eyes water.

.

you complain that they were high when you were working, now moan they are too low now that you are retired.

Thats the problem with pensioners, they only care for themselves and ignore the generation coming after them, the generation which will be paying for them!

take higher education, when they went to university they had theirs paid for by the generation in front of them, when the generation behind them came, they said sod it, we are now paying for you!

pink_princess

I don t think the credit crunch is dividing the generations,Its attitudes like your own.