Economy Home Truths

[Magschoice]

Just read this article:

Former Chancellor Lord Hammond has said the government & the prime minister must risk unpopularity and tell "some difficult home truths" about the state of the economy.

“That (cost wise) it has been the equivalent of fighting a war. The effects of which are going to be with us for a very long time”

“There will continue to be a rise in unemployment post pandemic, which is already at the highest level it has been since 2015.”

The government are 2 trillion in debt. I fear massive job losses and spending cuts. I do think the housing market will hold up though, to a certain extent

What are everyone’s thoughts?

Someone I know has been on furlough for months and posting photos of herself on Facebook boasting how great is is. “I hate my job and never want to go back, I love furlough!” type comments. She’s been made redundant today. Oops. I think she genuinely thought she would never be going back to work and would continue to be paid.

A lot of people on furlough will end up jobless I'm sure :(
A few people I know lost their jobs last April. Not their fault at all.

Baby boomers became rich after the post war economy saw huge house price inflation and unpresented wage growth.

They just happened to be born at the right time.

I personally think we'll have a rebound from pent up demand.
Certainly far too early to be talking of tax rises.

It's not just ' baby boomers' becoming wealthy but a lot of their children are too.
I've known of three separate families who have sold on their parents homes due to bereavement and made a lot of money.
I live in a normal area and now surrounded by people who are worth quite a bit thanks to their mums and dads buying places from the council and these homes are now worth a lot more.
The boomers may get a bad time of it on mumsnet but I bet nobody would turn down 200,000 as an inheritance from their family which is the average these people now have.
No wonder the selling off of council homes was so popular!

I think the government are waiting for them to bugger off and share the wealth..

Good ole science keeps them plodding along for a bit longer.

I saw pensioner and his wife, might be a mistress in a new Porsche, breaking the world speed record at 22mph on a National speed limit road.

Bloody nuisance.

It's only the older people in society now who can afford fast cars or motorcycles and the higher insurance premiums!