'Baby-boomers own half of Britain's wealth' telegraph article today.

Kohoutek

CLAPTON wrote: »

people can work longer and contibute to the economy as they are in better health

in my view the economy will continue to expand... new ideas and innovation will not stop

the pound has fluctuated wildly over recent years and I'm sure it will continue to do so.
currently a low pound is good for exports and discourages imports which is something I would have thought most people would see as good for jobs and the economy

in the short term taxation will almost certainly rise (which will afffect all those baby boomer rich too) but over the long term rising prosperity will provide enough for all of us.

If new ideas and innovations don't occur in Britain, it won't make our currency or economy any stronger. Our manufacturing sector is very weak, just look at British roads – what percentage of cars are manufactured by British owned companies, maybe 0.5%. Hopefully a weak pound will stimulate manufacturing, but it will also have the effect of making most consumer goods more expensive. A large proportion of the food sold in supermarkets comes from abroad, virtually all consumer electronic come from China, clothes from places like India, Bangladesh etc - all these will become significantly more expensive.

CLAPTON

Kohoutek wrote: »

If new ideas and innovations don't occur in Britain, it won't make our currency or economy any stronger. Our manufacturing sector is very weak, just look at British roads – what percentage of cars are manufactured by British owned companies, maybe 0.5%. Hopefully a weak pound will stimulate manufacturing, but it will also have the effect of making most consumer goods more expensive. A large proportion of the food sold in supermarkets comes from abroad, virtually all consumer electronic come from China etc - all these will become significantly more expensive.

I would suggest you check up about the car production in the UK

of course a weaker pounds makes imports more expensive which is surely a benefit to UK buisness as it make home production more competitive with foreign imports

but frankly given what you say and assuming you are resonably young, I'm amazed you choose to live here

Kohoutek

CLAPTON wrote: »

I would suggest you check up about the car production in the UK

of course a weaker pounds makes imports more expensive which is surely a benefit to UK buisness as it make home production more competitive with foreign imports

but frankly given what you say and assuming you are resonably young, I'm amazed you choose to live here

I know a significant amount of cars are produced in Britain by foreign companies, but how many British car manufacturers are there? Aston Martin?

We don't grow bananas or mangos in Britain, or produce mobile phones. We had a flourishing textile industry in the nineteenth century and part of the twentieth century, not now. My point was that, in the case of the majority of consumer goods that will be effected by the decline of sterling, they cannot realistically be produced in the UK.

I don't want to leave the country...why do you say that? I don't hate Britain...I'm just stating real facts. There's no point just saying 'everything must get better'.

Edale

I have to post this, I nearly PMSL when I read it in the Rotherham Advertiser a couple of weeks back. It is connected to the thread in so much as people will moan irrespective of their situation (young or old I hasten to add).

WEATHER: OAP slams cold snap payments click for full article

Furious pensioner Brian Hirst (70) this week slammed Government policy on cold weather payments after discovering that only pensioners on Pension Credits and some people on Jobseeker’s Allowance or Income Support were entitled to the £25 boost.

"Child benefit and MPs' expenses are not means tested but they have decided to means-test the cold weather payments," he said.

"It makes me feel very angry that senior citizens who have lived here all their lives and paid taxes are being treated in such a disrespectful manner."

Mr Hirst, a retired careers adviser, added: "If it were not for my grandchildren I would not be bothered about still being around.

"I feel totally ignored. No-one wants to know about elderly people."

A spokesman for the Department of Work and Pensions confirmed that cold weather payments were paid automatically to those on on Pension Credits, Jobseeker's Allowance and Income Support.

A spokesman for the Department for Work and Pensions said: "The Government has spent around £243 million nationally on cold weather payments so far this winter, with 9.7 million payments to 4.2 million recipients."

Bootski

Edale wrote: »

I have to post this, I nearly PMSL when I read it in the Rotherham Advertiser a couple of weeks back. It is connected to the thread in so much as people will moan irrespective of their situation (young or old I hasten to add).

WEATHER: OAP slams cold snap payments click for full article

Furious pensioner Brian Hirst (70) this week slammed Government policy on cold weather payments after discovering that only pensioners on Pension Credits and some people on Jobseeker’s Allowance or Income Support were entitled to the £25 boost.

"Child benefit and MPs' expenses are not means tested but they have decided to means-test the cold weather payments," he said.

"It makes me feel very angry that senior citizens who have lived here all their lives and paid taxes are being treated in such a disrespectful manner."

Mr Hirst, a retired careers adviser, added: "If it were not for my grandchildren I would not be bothered about still being around.

"I feel totally ignored. No-one wants to know about elderly people."

A spokesman for the Department of Work and Pensions confirmed that cold weather payments were paid automatically to those on on Pension Credits, Jobseeker's Allowance and Income Support.

A spokesman for the Department for Work and Pensions said: "The Government has spent around £243 million nationally on cold weather payments so far this winter, with 9.7 million payments to 4.2 million recipients."

What a load of todge - I've been waiting for warmfront to fix my boiler - £60 paid for by myself and they;ve not even contacted me since October though we've had the coldest winter in years.

I'm still waiting for their call and expect one in Spring, once I've thawed out a bit:T

MRSTITTLEMOUSE

chaostheory wrote: »

I can't argue with someone who seems to think that everyone is worse of NOW than in the 1940s, 1950s or 1960s. There is no point. I'll just go and knock my head against a wall.......................

God Help Us.

It's all down to experience is'nt it.
We've been there,done it and got the tee shirt and know we did'nt have it easy.
I don't think the moaners get how it was never easy and never will be.
Life is'nt.

MRSTITTLEMOUSE

ninky wrote: »

grit? you had grit? we used to dream of grit! we had to build a house out of old cigarette ends and bits of broken glass and our dad used to beat us to keep us warm.:rotfl:

Broken glass
Huh,You were lucky!.

baby_boomer

Kohoutek wrote: »

What prospects have we got for significant economic growth in this country?

It's absurd to suggest that people who are young today will be better off in the long term

Incredible. I can hardly believe you said that.

Have you not noticed the inexorable trend in national income increase since the industrial revolution began in 1750?

When computers came out, I was budgeting £2K to replace a computer every four years. Now it's £400 and declining. Cars are another product which haven't remotely kept place with inflation. And you used to have to think about the cost before picking up the phone!

And don't forget the economic advantage that the English language as a world language gives our country, both in terms of a provider of services and as a country whose population is not going to decrease.

Get real, please. There are going to be huge benefits to our younger population which will emerge from the global economy which us oldies will not get to see.

That will occur without recent levels of growth being repeated.

Kohoutek

baby_boomer wrote: »

Incredible. I can hardly believe you said that.

Have you not noticed the inexorable trend in national income increase since the industrial revolution began in 1750?

When computers came out, I was budgeting £2K to replace a computer every four years. Now it's £400 and declining. Cars are another product which haven't remotely kept place with inflation. And you used to have to think about the cost before picking up the phone!

And don't forget the economic advantage that the English language as a world language gives our country, both in terms of a provider of services and as a country whose population is not going to decrease.

Get real, please. There are going to be huge benefits to our younger population which will emerge from the global economy which us oldies will not get to see.

That will occur without recent levels of growth being repeated.

Try answering my question about the future of the British economy, not referring to the past. 'The future will always be better' is not an argument. If want to look at history, look at the period 1000-1750 too, where China and India were much more economic productive and wealthier than the West.

Britain's world share of GDP/industrial output peaked about a hundred years, our currency has been declining ever since too...£1=about $5 in 1900. The reason why consumer electronics are cheap is increased economies of scale and the fact that the main production centre, China, has a currency fixed at artificially low rates and cheap labour markets...if they want to have the same living standards are the West, cheap Chinese labour and a cheap renminbi with not last forever.

Our economy today is based mainly on debt driven consumer spending – what kind of medium term prospects for growth are there given the record levels of consumer debt and looming tax increases? It's your argument that is incredible and outlandish, not mine, and you offer no facts to back it up.

baby_boomer

Kohoutek wrote: »

Britain's world share of GDP/industrial output peaked about a hundred years, our currency has been declining ever since too...£1=about $5 in 1900.

And yet we still managed to install indoor loos, central heating, import more exotic food, transform the health of the nation and benefit from the global technological revolution notwithstanding a process you say has been underway for a century .

The reason why consumer electronics are cheap is increased economies of scale and the fact that the main production centre, China, has a currency fixed at artificially low rates and cheap labour markets.

Aren't you forgetting the fact that every 18 months the same size chip has x2 the capacity?

Our economy today is based mainly on debt driven consumer spending – what kind of medium term prospects for growth are there given the record levels of consumer debt and looming tax increases?

You surely aren't saying no growth for ever are you? Economic life is about change and overcoming problems. We've overcome plenty in the past - two world wars, the loss of empire, 1929, the oil price rise in the 1970s etc. We're not complete numpties - in spite of our educational failings.