Inheritance not enough

Peter_Williams

Cakeguts wrote: »

50 or 60 years ago working class men did not own cars on finance, iphones on contracts. Many did not have fridges or washing machines and certainly not dishwashers. None of them had takeaway meals and they didn't ever eat out. There were no electrical appliances left on standby and electric lights were switched off if no one was in the room. There was no central heating you either had a coal fire and/ or you wore more clothes in the house. People didn't go on holiday they went to stay with a relative in a different part of the country getting their by either bus or train and then the relative came to stay with them. Children shared bedrooms.





Anyone is welcome to return to this way of life. There is no rule that you says that you have to own the latest gadget and buy it on credit. There is a good argument for most people who currently go to university and get into debt to study for degrees in nothing from universities that offer degrees in nothing not going and either going straight to work or getting an apprenticeship.



There is no rule that says you cannot wash your clothes by hand or buy fresh food and cook it at home.



Older people tend to have more money because they have gone without things that a lot of younger people think are necessary but which are actually only luxuries and if you can't afford the luxuries you don't buy them.

No, people cannot return to how things were in the 1950s.
Because the increase in household debt (''finance'' - sounds better, doesn't it?) - pushes up asset prices for everyone (hence, it is a price).

Workers are also now paid in fiat, so it will never keep pace with a hard asset price (eg a house).

The gadgets you mention are a result of globalised trade and planned obsolescence. People need smartphones and laptops etc for work now. They're not optional like they were 10 years ago.

Those who are now old, would have had their early wages paid in a currency backed by silver.

Peter_Williams

Gwendo40 wrote: »

The mistake you're making is regarding the benefits and TC/UC system to still be a ''safety net'' as was it's original remit.

It's now far closer to a form of Basic Income that people feel they are entitled to if they don't won't to work full time or choose to have children they can't afford.

Just a more complex form of the original bread 'dole' set up by the Romans...

Gwendo40

Peter_Williams wrote: »

Just a more complex form of the original bread 'dole' set up by the Romans...

Yes I've often said you can be go back as far as far Roman times and see a system remarkably similar to what we have today... the !!!!less and workshy are taken care of to prevent them from rising up and rioting, the wealthiest are also very well looked after and it's the working middle classes that are made to pay for it all.

Peter_Williams

Gwendo40 wrote: »

Yes I've often said you can be go back as far as far Roman times and see a system remarkably similar to what we have today... the !!!!less and workshy are taken care of to prevent them from rising up and rioting, the wealthiest are also very well looked after and it's the working middle classes that are made to pay for it all.

Wars paid for by currency debasement.
Bread and circus.