Reply to: Boomers not boomed after all

[expat]

QE has been to recapitalise the banks by the back door. Because even after the 'bail out' the level of toxic debt they ALL hold is massive. even now the banks a hugely exposed, this is the elephant on the room that all QEasing governments know. The ONLY solution is to let them fail. And they will. Next crash TBTF can Foxtrot Oscar. Then the party begins.

First I disagree with Zero Liability, now I find myself agreeing with PurpleGorilla. This is turning out to be one hell of a day!

[PurpleGorilla]

QE has been to recapitalise the banks by the back door. Because even after the 'bail out' the level of toxic debt they ALL hold is massive. even now the banks a hugely exposed, this is the elephant on the room that all QEasing governments know. The ONLY solution is to let them fail. And they will. Next crash TBTF can Foxtrot Oscar. Then the party begins.

[expat]

Just wait until the governments ditch the banks and directly inflate to cover their spending. Then price inflation will migrate from assets to consumer goods. Maybe less round about but they'll need to invent new ways of manipulating the CPI to pretend there is 'deflation'.

Just about the first thing I have ever seen you post that I think doesn't quite get it. The purpose of old-fashioned "printing money" was to pay the government's bills, inflation was an unfortunate by-product. But with quantitative easing, the "inflation" is the whole point.

[Zero Liability]

The rich tend to be older, because, (and this might come as a shock to you, seeing you were edjukated under Bliar's govt) they have had a long time to accumulate it.

Yes, most of the wealth is due to property/land prices going exponential, but this is what happens with loose monetary policy to create a false boom to keep everyone in the belief that there was real growth in the Western economies.

https://en.wikipedia.org/wiki/Greenspan_put

Just wait until the governments ditch the banks and directly inflate to cover their spending. Then price inflation will migrate from assets to consumer goods. Maybe less round about but they'll need to invent new ways of manipulating the CPI to pretend there is 'deflation'.

[PurpleGorilla]

but it would appear that 'boomers' everywhere have more money

and they are spending it

which leads to jobs etc etc etc

what would the purple ape have them do just give it to the oh so deserving youf and leave themselves in poverty?

hmmm?

hmmm?

This:

[original PM]

but it would appear that 'boomers' everywhere have more money

and they are spending it

which leads to jobs etc etc etc

what would the purple ape have them do just give it to the oh so deserving youf and leave themselves in poverty?

hmmm?

hmmm?

[cojak]

Who gives a feck about US baby boomers??

[expat]

I am the original poster and my post was not about US Baby Boomers, it was a riposte to those who think that boomer = wealthy. There are certainly some misguided people this side of the pond who think that, but actually the "baby boom generation" did less well here than in the US, to the extent that some people have suggested not using the word "Boomer" for people of that age in the UK.

[PurpleGorilla]

Arrghh okay.

Yeah, **** them money grabbing, rich, land owning, smug, ******* US baby boomers! I will fly over to the US and dance on their graves when they go! They've ruined my young life they have, with their retirement homes in sunny Florida and their comfy slacks!

Better?

No need, the youth of America are burning their iPads and raising their Lattes in disgust already.

[PurpleGorilla]

I repeat, not many people in the UK are wealthy US baby boomers....

Read the OP Grandad, this is a thread about US baby boomers.

[DimPrawn]

This is a thread about US baby boomers Grandad.

Arrghh okay.

Yeah, **** them money grabbing, rich, land owning, smug, ******* US baby boomers! I will fly over to the US and dance on their graves when they go! They've ruined my young life they have, with their retirement homes in sunny Florida and their comfy slacks!

Better?

[DimPrawn]

I repeat, not many people in the UK are wealthy US baby boomers....

[PurpleGorilla]

Very probably, but here's another shock for you. Not many people here are wealthy U.S. baby boomers.

This is a thread about US baby boomers Grandad.

[PurpleGorilla]

[DimPrawn]

Indeed. Not all young people are lazy iPad fiddling latte drinking trust fund types.

But generally, generally, the U.S. Baby boomer middle class has had a pretty good innings.

Very probably, but here's another shock for you. Not many people here are wealthy U.S. baby boomers.