BoE impoverishing pensioners, pushing up inflation damaging consumer spending

[petergriffin]

Saga: Bank of England's QE is 'permanently impoverishing pensioners' | ITV News

The damage is particularly problematic, yet the Bank keeps suggesting it is not due to QE. The reality is very different. Buying gilts and artificially driving down gilt yields which underpin both defined benefit and defined contribution pensions is causing significant economic damage, is permanently impoverishing pensioners, is pushing up inflation and damaging consumer spending. All the negative impacts need to be taken more seriously.

[DimPrawn]

Someone has to pay.

Either the wealthy pensioners who have seen great increases in their wealth due to rising property prices or the deeply indebted younger generation through higher interest rates.

[Spacecadet]

Someone has to pay.

Either the wealthy pensioners who have seen great increases in their wealth due to rising property prices or the deeply indebted younger generation through higher interest rates.

WHS

cash ALWAYS looses value in the long run

[OwlHoot]

Someone has to pay.

Either the wealthy pensioners who have seen great increases in their wealth due to rising property prices or the deeply indebted younger generation through higher interest rates.

WHS, and it's mostly pensioners who constantly warble on about the marvellous NHS ("envy of the World" and all that tripe) and, I would imagine, are the bulk of its users.

[Robinho]

Murder all old people and claim their property. No more deficit, no more pensions.

[Doggy Styles]

Someone has to pay.

Either the wealthy pensioners who have seen great increases in their wealth due to rising property prices or the deeply indebted younger generation through higher interest rates.

How many pensioners do you believe are wealthy?

It's not that many, because as you must know, most people retire with meagre funds for their retirement, and at their age little chance to suppliment it.

On the other hand, the younger generation have many more earning years in front of them to address financial shocks.

[BrilloPad]

The BoE disagrees - Pensioners would be worse off without QE, says BoE - Telegraph - though they are totally wrong. I am amazed they have tried to justify their actions - particularly given that they have totally misread inflation over the last 4 years.

In a civilized society it would be off to the tower with Merv.

[Robinho]

It's all a big horrible mess unfortunately.

To stop it happening in he future we need a nice fixed money supply, full reserve banking and privatised pensions.

[DimPrawn]

How many pensioners do you believe are wealthy?

It's not that many, because as you must know, most people retire with meagre funds for their retirement, and at their age little chance to suppliment it.

On the other hand, the younger generation have many more earning years in front of them to address financial shocks.

The vast majority are far wealthier than the younger generation who are in massive debt.

[BrilloPad]

The vast majority are far wealthier than the younger generation who are in massive debt.

+1

Most young people cannot even begin to think about buying a home.