Might as well have been said here.. Same Strategy.
http://www.telegraph.co.uk/finance/personalfinance/savings/8028884/Savers-told-to-stop-moaning-and-start-spending.html
Older households could afford to suffer because they had benefited from previous property price rises, Charles Bean, the deputy governor, suggested.
They should "not expect" to live off interest, he added, admitting that low returns were part of a strategy.
His remarks are likely to infuriate savers, who are among the biggest victims of the recession. About five million retired people are thought to rely on the interest earned by their nest-eggs. But almost all savings accounts now pay less than inflation.
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Response by notadmin
over 15 years ago
Posts: 3835
Member since: Jul 2008
> Older households could afford to suffer because they had benefited from previous property price rises, Charles Bean, the deputy governor, suggested.
Yep, so true. Both the housing bubble and the aging society are huge transfers from young households to older ones. Another way to do this is to do this is by increasing discretionary income of younger households to be paid by Uncle Sam.... obviously lower housing prices will achieve this but it's politically unfeasible as a goal. A payroll holiday for the next 2 years might do the trick.
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Response by notadmin
over 15 years ago
Posts: 3835
Member since: Jul 2008
> His remarks are likely to infuriate savers, who are among the biggest victims of the recession. About five million retired people are thought to rely on the interest earned by their nest-eggs. But almost all savings accounts now pay less than inflation.
give me a break! the biggest victims of the bubble are those 30-35 and those that stayed on the sidelines. the elderly benefited. time for them to stop salivating about "my next egg is my house" and pay most of the cost of this failed orchestrated wealth transfer.
the elderly had total disregard about those young households having to pay more than 33% of their income for housing. f*ck them!
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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009
Seems fairly presumptions to assume that retirees have substantial assets. Many do not.
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Response by columbiacounty
over 15 years ago
Posts: 12708
Member since: Jan 2009
Right up your alley. Someone blaming someone else.
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Response by pulaski
over 15 years ago
Posts: 824
Member since: Mar 2009
"> Older households could afford to suffer because they had benefited from previous property price rises, Charles Bean, the deputy governor, suggested.
Yep, so true."
So the old folks are supposed to sell their home that appreciated in these "price rises" (orchestrated by greedy banksters and failed government policies) and then go and live where, pray tell?
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> Older households could afford to suffer because they had benefited from previous property price rises, Charles Bean, the deputy governor, suggested.
Yep, so true. Both the housing bubble and the aging society are huge transfers from young households to older ones. Another way to do this is to do this is by increasing discretionary income of younger households to be paid by Uncle Sam.... obviously lower housing prices will achieve this but it's politically unfeasible as a goal. A payroll holiday for the next 2 years might do the trick.
> His remarks are likely to infuriate savers, who are among the biggest victims of the recession. About five million retired people are thought to rely on the interest earned by their nest-eggs. But almost all savings accounts now pay less than inflation.
give me a break! the biggest victims of the bubble are those 30-35 and those that stayed on the sidelines. the elderly benefited. time for them to stop salivating about "my next egg is my house" and pay most of the cost of this failed orchestrated wealth transfer.
the elderly had total disregard about those young households having to pay more than 33% of their income for housing. f*ck them!
Seems fairly presumptions to assume that retirees have substantial assets. Many do not.
Right up your alley. Someone blaming someone else.
"> Older households could afford to suffer because they had benefited from previous property price rises, Charles Bean, the deputy governor, suggested.
Yep, so true."
So the old folks are supposed to sell their home that appreciated in these "price rises" (orchestrated by greedy banksters and failed government policies) and then go and live where, pray tell?
columbiacounty Ignored comment. Unhide