Asset Protection for the Already Wealthy
#21
(09-09-2021, 10:57 AM)Protheroe Wrote: Yes, but the seeds of the City of London's continuuing global pre eminence were also sown at the same time.

The seeds of the City of London's platform for services were sown in the 11th Century when the people of the City gained special privileges from William the Conqueror that were not extended to the rest of the Kingdom of England (that still exist to this very day), this was then built on by exploitative means of both the Empire and provincial England and later Britain (how interesting would it be if Lloyds and Midland/HSBC had stayed Birmingham-based and NatWest/NPB Nottingham-based, not to mention all the financial institutions that moved down from Edinburgh to the City after the Act of Union).
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#22
Did you miss the word "continuing"?
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#23
No, otherwise I would have referenced the Roman founding of the city and its links to Dubris, Noviomagus, Corinium and Venonis
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#24
(09-07-2021, 11:06 AM)Protheroe Wrote: 2008
Gordon Brown guarantees savings at £85,000 per person / per insitution.

At the same time almost half of families had less than £1000 in liquid financial wealth.


2008-2021
Successive governments print money by the billion and suppress interest rates enabling the already wealthy to plough into further asset growth.

The average house price has risen from £157,234 in Jan 2009 to £265,668 in June 2021.

All major stock indices are at or near record highs. Bond yields are at their lowest ever.

2021
The government decides to make younger workers underwrite the capital accummulation of Pensioners by paying for their social care.

Can anyone explain to me why any person under the age of 40 would vote Tory, or indeed for any other party that has gone along with the greatest transfer of wealth from the poorest to the richest, and the youngest to the eldest in the history of our nation?

When do the beneficiaries of government underwritten asset accumulation (I am one) actually get asked to pay? If not now, when?
Glad to see you are finally coming to the realisation of what austerity has done to younger people. Without austerity, interest rates would have been higher, there would have been no need for QE, house prices would be lower and our health care (and education) system would have been better prepared for covid as well as the baby boomers need for additional health care. In all likelihood, Brexit wouldn't have happened either, so in aggregate, the country would be better off.

But then again, what do Professors in Economics like me know, we're just stupid experts.
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#25
i thought the central banks set interest rates and print money and that they are also independent from the government
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#26
(09-12-2021, 09:47 AM)spyro 123 Wrote: i thought the central banks set interest rates and print money and that they are also independent from the government

Monetary and fiscal policy are linked. Had there not been austerity, the economy would have returned to normal much more quickly. That would have meant higher inflation expectations and inflation running much closer to the Bank of England's target (set by the Chancellor). Interest rates would not have been so low (essentially zero %), there would have been no need for QE and hence lower asset prices including housing.
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#27
(09-11-2021, 09:40 PM)Logic1 Wrote: finally coming to the realisation of what austerity has done to younger people

I'm not "finally" coming to the realisation about anything. I've been banging on about this shit for 13 years.
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#28
(09-12-2021, 02:23 PM)Protheroe Wrote:
(09-11-2021, 09:40 PM)Logic1 Wrote: finally coming to the realisation of what austerity has done to younger people

I'm not "finally" coming to the realisation about anything. I've been banging on about this shit for 13 years.

I got the impression you were supporting the austerity measures to the hilt simply because it was your toryboy party managing it
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#29
(09-12-2021, 03:12 PM)Baggybenny Wrote:
(09-12-2021, 02:23 PM)Protheroe Wrote:
(09-11-2021, 09:40 PM)Logic1 Wrote: finally coming to the realisation of what austerity has done to younger people

I'm not "finally" coming to the realisation about anything. I've been banging on about this shit for 13 years.

I got the impression you were supporting the austerity measures to the hilt simply because it was your toryboy party managing it

Whatever gave you that impression? Perhaps the years knocking on doors endorsing Tory policy on austerity or perhaps the years banging on about having a teeny tiny state and advocating the poor and vulnerable reliance on charities?
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#30
(09-12-2021, 03:12 PM)Baggybenny Wrote:
(09-12-2021, 02:23 PM)Protheroe Wrote:
(09-11-2021, 09:40 PM)Logic1 Wrote: finally coming to the realisation of what austerity has done to younger people

I'm not "finally" coming to the realisation about anything. I've been banging on about this shit for 13 years.

I got the impression you were supporting the austerity measures to the hilt simply because it was your toryboy party managing it

I don't agree that we ever had any "austerity". If you look at the numbers spending increased in real terms every year.

If we'd actually have had some "austerity" I defintely would have supported it.
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