Sunday, September 16, 2012

Screwing the Young, Over and Over Again

Thanks to the following, governments, which consist of mainly baby boomers, have successfully screwed the young:
  • Stealing from Children via HUGE government debts in the hundreds of billions.  Children and grandchildren will pay higher taxes, receive less spending from the government or lose wealth due to inflation if the government has to print money to pay for the debt.
  • Massive Manipulation of the Housing Market by the government to create and fuel Housing Bubbles.  (Canada has the longest lasting Housing Bubble in Western history.  Home prices are now out of reach for most young people.)  The ones who borrowed like crazy to get in are mainly the younger generation.  In the U.S., they have lost their shirts.  In Canada and Australia, they will now be far poorer than the previous generation, as they spend the majority of their income for their homes for the majority of their lives.  It is essentially a massive transfer of wealth from the young to the old.

    Bubbles, such as the Dot Com, Oil and Real Estate bubbles, are extremely disruptive for any country.  They usually make some people filthy rich and some people filthy poor.  After the Housing Bubble burst in the 1990's in Hong Kong, people jumped out of windows.  After the stock market bubble burst in 1929, people in New York jumped out of windows. Governments should do everything they can to prevent or suppress bubbles.  Instead, governments did everything they can to create and fuel Housing Bubbles.

    The role of the central bank is to maintain price stability by fighting inflation.  The single biggest purchase for most people is their home.  In bubbles, home prices inflate astronomically thanks to government policies.  This is huge inflation for the young.  This means that the head of most central banks should be fired for gross incompetence.
  • Our Fake Economies have been fuelled by borrowing, spending and debts.  The previous generation have enjoyed an economy and standard of living at the expense of the future.  Eventually, this borrowing and spending will slow down.  When it does, the economy will do the same, at which point the younger generation will suffer when they run out of money to fuel and support their economy.  Europe serves as a good example of this.  If the borrowing and spending does not slow down, then the government will have to print money, which again creates inflation and steals wealth from the whole population at that time.

    According to this article:
    "One third of Americans now count themselves part of the lower-middle or lower classes, according to a report from Pew Research Center, including nearly 40 percent of young people between the ages of 18 and 30."
    When a country suffers from the hang-over of too much debt, the young is especially hit hard.  50+% of the young are unemployed in Spain and Greece.  Hence, the younger generation will suffer for decades to come.


If you are part of the younger generation, speak up.  Complain to your politicians.  Send links from our site to your politicians, friends and family.  If you do not speak up, the older generation will continue to screw you, because most of them do not even know that they are screwing you.


Stealing from Children

Housing, the Most Manipulated Market in the World

Fake Economy


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