Tuesday, 17 December 2013

Born after 1960? Then you're probably poorer than your parents



The guardian reported that if you Born after 1960? Then you're probably poorer than your parents. It's certainly something I'm noticing so I felt the need to keep this for future reference. I feel that over the decades we are feeling the natural effects of falling from the heights of the late 19th and early 20th Century when the UK was a dominant power fueling the industrial revolution and leading in industry.

While we are still important we are slowly reaping the benefits and problems of such amazing consistent growth over multiple generations. The inevitable slowdown. Whether the gap between rich and poor will forever widen in the UK I can't say but I do feel that our position both physically and then culturally in between the US and Europe and our history as a sea faring nation of travellers. I feel we are basically pulled in all directions moving too and fro. This can bring big benefits but also big problems.

The article simple explains the the problems of today are simply the natural occurence of what has been happening over the years. I think it's got lot to do with how easy it is to accrue debt. I don't know all the reasons. I think it's partly because the country was relatively wealthy yet the culture encouraged saving. Credit wasn't easy to get so debts had to be paid upfront and few expected inheritances to pay for things.

These days the culture is based on debt. It's expected and the only option available when doing things you're supposed to do like go to university or get a house. Everyone does it and you feel a bit stupid if you don't. Of course those with better off parents don't feel the full brunt when there are bumps along the road to servicing their debt.

It is what I am seeing in life. So I found it a timely article.
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