The 1.54% Boomer Riche

http://www.theguardian.com/uk-news/2015/aug/27/number-of-millionaires-in-uk-rises-by-200000

One in 65 UK adults now a millionaire, latest figures show

snort lol laugh haha hmph derision yeah duh really uhuh mhmm princess bride

I wonder which generation this could be (mainly).

The number of millionaires in the UK has shot up by 41% over the past five years, with one in 65 adults now classed as having a seven-figure fortune thanks to booming house prices and stock market gains.

The stock market thing is usually a fluke, real estate is the prime moneymaker.

There are now 715,000 millionaires living in Britain compared with 508,000 in 2010, data from Barclays UK shows. Nearly half (48%) of all new millionaires since 2010 live outside London and the south-east.

The bank’s prosperity index found that Reading, Cambridge and Birmingham are the most affluent cities outside of London, and the east of England is the third most prosperous area.

Surging property prices and big returns in equity markets in recent years have combined with higher wages and employment rates to create more millionaires as the UK economy gets back on track.

It isn’t back on track but OK.

The research shows that every UK region is now more affluent than it was five years ago, with measures including household wealth, gross domestic product (GDP), exam results, charitable donations and entrepreneurship taken into account.

QE does that.
They mean NGOs, not charities. A lot of embezzlement.

According to the Office for National Statistics, the richest 10% of households own 44% of household wealth.

And which age group are they? Pray tell.

Akshaya Bhargava, chief executive of Barclays Wealth and Investment Management, said: “The UK is becoming more prosperous, with every region having grown in affluence since 2010. It is also encouraging to see that regions and cities are starting to close the gap with London in terms of prosperity, with the north-east, for example, seeing business growth rates behind only London.”

London and the south-east remain the most prosperous regions, and the capital boasts the most millionaires, up 48% in the past five years to 191,000 – more than the combined millionaire population of Wales, Scotland, Northern Ireland and northern England.

The east of England comes in third behind these two, as rising house prices push more wealthy Britons outside of London, with 23,000 more millionaires calling the eastern region their home.

Reading is listed second for prosperity in the UK, according to the index, with average earnings of £30,562. Growing numbers of entrepreneurs in the UK is also seen as a factor in increasing wealth, with Cambridge emerging as a startup hub and ranking third.

The north-east and Newcastle fall low on the prosperity index. But the study showed the highest rate of growth in millionaires was in the north-east and Wales, both up 50% since 2010. The study said northern regions “may be on the cusp of change, with the north-east leading the way”.

Despite the jump in wealthy Britons over the past five years, the research said growth in millionaires was expected to return to more normal levels over the long term, with a 9% increase in the UK expected by 2025, in line with GDP growth.

Almost like they brought in a new tax on BTL (buy to letters).

If we go back to before the Boomer panic of the Guardian, to  2011: http://www.theguardian.com/business/2011/feb/28/baby-boomers-secret-millionaires

The inadvertent burden baby boomers have bequeathed the young is sending Britain broke.

…Yet the accusation that boomers are protecting themselves at the expense of everyone else still stands, because relatively ordinary boomers will retire as millionaires, paid for by younger workers. Even the poorer over-50s need to recognise they are going to take out of society more than they put in….

PONNNNNNN-ZIIIIIIIIIIII.

ugh why no please stop god kill me now rdj tony stark

Among other resources;

http://www.nevermindthebuspass.com/wealth/baby-boomers-drive-rise-of-one-in-10-millionaire-households/

One British household in every 10 now has total assets exceeding £1m, according to a new book based on work at the London School of Economics published last week

Wealth in the UK crunched the findings from a comprehensive official survey that took place between 2008 and 2010, and found that 10% of households had total wealth of £967,200 or more….

…As lead author Professor John Hills explains: “It is not that there are millions of people with millions of pounds in the bank, but rather that London property prices and – for those lucky professionals who retain them – final salary pensions have quietly made technical millionaires out of many who would only consider themselves as solidly middle-class”….

i hope you fucking choke love heartbreak

…In addition, over-55s accounted for most of the 2.5m ‘millionaire households’, having benefited in particular from rising house prices. But there’s also a great wealth disparity among households in this age group….

Yet about 1 in 10 of those still managed to fail. Fail to save. Ever. Because magic money.

…The top 10pc in that age group own assets worth more than £1.46m, said Prof Hills, and the typical household had wealth of £431,000…..

…He also warns against the complacent temptation to regard the great surge in wealth at the top end as a “purely paper” phenomenon, arguing instead that it will have implications for social mobility for a long time to come…

translation: Gen Y are fucked.

http://www.if.org.uk/archives/2762/pensioner-millionaires-in-the-uk-identifying-the-numbers

The members of Britain’s baby boomer generation who are just starting to enter retirement have been called “the richest generation in history”. Yet, to a large extent, the British welfare state still treats age as a proxy for need, transferring large amounts of public money to all pensioners in the form of universal benefits, regardless of how wealthy they are.

Old goats for votes.

In order to help further the debate surrounding how Britain’s welfare state should be reformed as the population ages, IF undertook this study to discover how many members of the older generation live in households that have assets of more than £1 million, using data from the 2008/10 Household Wealth and Assets Survey.

The author estimates that in 2011, there were approximately 1.9 million over-60s living in households with asset wealth greater than £1 million, 1 million of whom were over-65 (above state pension age for both males and females). This finding should lead to increased debate about how the British welfare state treats pensioners who have large reserves of private asset wealth, and whether benefits should the distributed according to need rather than age.

Remember the Communist mantra?

no do not want go away displeased

…Pattern? What pattern?

In case you think I’m doom-mongering for Gen Y (Gen X got a mixed bag): http://www.dailymail.co.uk/news/article-3108441/Generation-Y-left-pick-6trillion-tab-Report-warns-children-born-1980-2000-face-apocalyptic-levels-debt-Government-spending.html

It begins (from this June);

Younger people are being left with ‘apocalyptic’ levels of debt, a report warns today.

I know the feel, bro

So-called Generation Y, born between 1980 and 2000, will be forced to pick up the bill for decades of Government over-spending, it is claimed.

*throws K-selection confetti*

Analysis by the Centre for Policy Studies (CPS) accused baby-boomers of making unfunded promises on pensions and benefits and then leaving their children to pick up the bill.

Surges of hormones make Hulk angry

Coupled with unaffordable housing, university debts, poor pensions and a ‘rapidly retreating state pension age’, Generation Y now faces ‘a quality of life below that of their parents’.

The CPS accused politicians of ‘fawning over the baby-boomers and older pensioners’ as they were more inclined to vote. The think-tank says the state’s liabilities – including ‘off the books’ spending commitments – is £6trillion, or £221,000 per household.

In the report, Tory peer Lord Holmes of Richmond said people in their twenties and early thirties faced ‘a struggle not experienced by previous generations’ as they had been left to pick up ‘the tab’.

He said: ‘Why should you suffer a standard of living lower than your parents?’.

The think-tank said overall liabilities had risen by hundreds of millions in the last five years alone – despite the country supposedly living in an age of austerity.

The CPS said the bill would be picked up by today’s young people, so-called Generation Y.

Their parents and the so-called baby boomer generation born after the war have been protected by politicians unwilling to upset older generations who are more likely to vote.

…In a devastating analysis, the report’s author, Michael Johnson, says: ‘Baby-boomers have become masters at perpetrating inter-generational injustice, by making vast unfunded promises to themselves, notably in respect of pensions.

 I love this suit and everything about this demeanour

The Best of Baby Boomer memetown

Feel free to link to others (imgur preferred).

Honestly, I could just leave it at this one.

Since they can scarcely use this interweb thingey, this is the best means of attack. It might get through to the Twitterati, now wouldn’t that be fun?

You need experience, to get experience…. Fine, when the time comes we’ll say you need a pension, to get a pension.

His daughters Paige, Buffy and Arya.

What, like it’s genetic…?

I know some people retired longer than I’ve been alive.

Fact-check, anyone?

The charge of narcissist can hardly be applied to the people responsible for paying a bill of luxury goods they didn’t run up.

We’ll get the last laugh. They care about themselves, and their legacy, in that order.

They can’t live forever, and we’re writing the history books.

Since they pushed the marriage poison of Sexual Revolution and wonder why we aren’t making (great)grandchildren…

Why am I posting these?

It would piss off The Guardian.

deanwinchester supernatural wink flirty hey hello nice

And baby, that’s all the reason I need.

“You can do anything” parenting and teaching is actively harmful

http://aeon.co/magazine/psychology/why-telling-kids-to-dream-big-is-a-big-con/

It comes down to IQ grade. IQ denialism, as it was suggested by Haidt, makes about as much sense now as New Earth Creationism in biology, there is simply so much evidence.

Grades are just proxies for IQ — which most parents are too dumb to conceive of.

IQ isn’t strictly a number, it’s a grouping with an error variance. The Binet IQ was intended for school application ONLY – to ascertain how the child’s learning process could be assisted by teachers at each stage (level of work compared to their chronological age), look at modern Sets for the truest application.

If you’re at the top grouping possible for a human, as an adult, A+/200+ High Genius or basic polymath, you have all the choices. And who doesn’t want options for their child (and by ego extension, a compliment to their own genetic material) but the further down the pyramid you go, the more restricted your future prospects. These are facts.

If you wanna be an astronaut, you’d better be making As and Bs. Just because you sat in the same classroom for decades doesn’t mean you’re equal in life quality potential or entitled to the same things as adults (public school kids and pronounced failures regardless of family fortune are the amusing example).

Telling children they all have equal potential may seem nice, and the Nurture Brigade of modern teaching insist it’s fair (if you are ignorant of their status yes, in case) and necessary (see former) – but it traumatizes the average and below-average children and sets them up for a lifetime of suffering, and probable mental illness (hark! Freud’s ghost laughing in the distance). Children blame themselves when they fail or something goes wrong. Fine if the changes needed are within their control… this is rarely the case here.  The self-esteem movement formed to prevent mental illness, theoretically as a shield against it, and now… many young people are popping pills.

This lie about potential doesn’t even sink in (because for this to apply, they are dumb) when they’re adults. Millennials are miserable. They see their age-peers succeed and assume (all else being equal) there is something they can do about it, and feel entitled (+) or wronged (-), that their own course isn’t going the same way (a few come up with lies i.e. their competition is cheating, or secretly evil).

n.b. IQ is computed by age, so child ones are unreliable although age 11/12 is highly correlated, it’s best to get retested as an adult and expect a small dive. Many supposed prodigies fail on this count because they were merely ahead of the curve at school (by external factors of socialisation, see Gladwell’s Outliers), and not genetically ahead (permanently ahead). Hence, prodigies seem to burn out, when in fact the fakes (harsh but true) merely crash into the wall of their genetic potential. Elements of the modern school system e.g. obedience to popular belief, lack of imagination and rote memory dependence also contribute to this false-flagging of intelligence, as it were, rewarding traits which are, in effect, the anti-genius. Lies on the other side of the IQ fence.

Millennial women rejecting feminism, long for hearth and home

http://www.breitbart.com/london/2015/07/03/the-futures-bright-young-people-more-conservative-than-parents-generation-and-the-trend-is-increasing/

…The increasing conservatism of the younger generation is not something that has gone unnoticed by the left and right-wing alike. Guardian columnist John Harris reacted with utter horror after meeting real young people all across Britain as part of the Guardian’sAnywhere But Westminster exercise in trying to find “real politics”, and finding them to be remarkably conservative – even if they didn’t self-identify as ‘big-C’ Conservatives. He said:

“I was reminded of another very modern syndrome: the fact that as you progress down the age range, opinions about the job market and welfare state tend to harden, to the point that droves of twentysomethings sound like devout Thatcherites… this has become almost a given. Quiz people under 30, in short, and you’re more than likely to hear echoes of the kind of on-yer-bike, sink-or-swim values that decisively embedded themselves in British life when they were mere toddlers”….

Like I said in Best Post, we aren’t falling for it. We’re women, not workhorses.

We’ve seen all the divorced, the spinsters and the bitter and gone –

Yet the Left don’t see these people weren’t brainwashed, they grew up in a time of Leftist dominance. They know they’ll be on the target list eventually, useful pawns for their ideology. They refuse to be further used. What has the Left done for us? Replaced our jobs with immigrants, shut down our lolz on social media, nixed our hobbies for imaginary offences, crashed our parties with people who refuse to grow up and we can’t get a decent savings account, let alone a car (insurance, all those safety regulations) or a house.

Under 35? No pension for you.

http://www.thisismoney.co.uk/money/pensions/article-2787888/how-state-pension-funded-cash-runs.html

…Cash reserves in the National Insurance Fund have plunged in the past few years and could come up short as soon as next year, forcing the Government to dip into money coming in from general taxation, according to the research.

Baby Boomers need their nudist sex cruises.

The Centre for Policy Studies report warns under-45 they face tax hikes and a later retirement age, and under-35s they can expect the state pension to be scrapped altogether….

Even better, give them a pitying look and smirk no matter what they say.
Oh no who could have foretold such a disaster…
I know exactly what I'm doing, says the INTJ

From the wonderfully titled “The End Should be Nigh“;

Timing aside, with the Fund gone, there would be no justification for HMRC to continue to collect the insurance premium that is NICs.

There is a little good news. A little.

Allow me to draw your attention, dear Reader, to Section 5.4 Fund Exhaustion

…Fund exhaustion, whenever it arises, would be of considerable symbolic significance. It would confirm that even with all the recent cost saving measures (such as sending the SPA into rapid retreat) the forthcoming single-tier State Pension is unsustainable. Either benefits are further watered-down, or Generation Y, [20] in particular, will face rising taxes. This is unreasonable; Generation Y is already faced with unaffordable housing, college debts to repay, fragmented careers and earnings stagnation, and far thinner occupational pensions (DC, not DB, bar the public sector) than their baby boomer parents.[21] It is perhaps no surprise then that the 25-34 years old age group (i.e. core Generation Y) are the least likely to live in households in the top total wealth band. Conversely, only 4% of individuals aged 55-64 years (i.e. baby boomers), and 4% aged 65 or older, live in households in the lowest total wealth band.

[20] = Under-35s.

It gets better.

..In extremis, perhaps we should gradually put an end Corporation Tax altogether, replacing it with consumer taxes?…

crying laughter lmao

Let’s see The Guardian Media Group and its readers evade those, with their lifestyle of conspicuous consumption.
In short, fuck Baby Boomers.  I cannot stress this enough.
If you’re new and think that’s too far or unfair, see Best Post. In short, I refuse to work my arse off until I drop dead so they can spend half their extended lifespan fucking around and spreading STDs on every continent.

They can’t pull the wool over our eyes for much longer.

They’ll starve anyway, idiots failed to not abort have enough children, expecting they could sponge off other people’s – creating a ‘tragedy of the commons’ because everyone had the same ‘bright’ idea and children ARE the original pension plan, after all. They work for you when you cannot. We’ll vote to drop their “entitlements” when we realise en masse how they screwed us on every conceivable front.

What type of parents push drugs on their kids? The r-type parent.

http://www.theguardian.com/lifeandstyle/2015/may/30/my-son-said-no-to-drugs

The excuse?

He wanted his son to “fit in” with certain friends.
Fiver says the son will grow up to be a staunch Conservative, with terrible parents like that, who recently split up, he’s a shoo-in.

On the day J blocked his friends for crimes with weed, with the pressure on to come up with my best possible advice, I had this ludicrous idea for 10 seconds or so: why don’t I stop off on my way home from work, find some dope to buy and we can smoke it together? This way we could just get the whole rite of passage thing done and dusted. J often tastes my wine at dinner, always with disgust, and my hunch is that an introduction to grown-up stimulants within the family setting might have its value.

are you kidding you have got to be quinn glee

– When the trend for Generation Y / Millennials is to abstain from ALL intoxicants (possibly barring caffeine because it’s in food like chocolate and we have harder exams);

http://www.telegraph.co.uk/women/womens-life/11061434/Charting-the-rise-of-Generation-Yawn-20-is-the-new-40.html

Regardless of risk of death or permanent brain damage to the child, typical r-type. http://www.sciencedaily.com/releases/2013/07/130724125028.htm Cannot undo the structural changes with yoga.

I’d love to see Anonymous Conservative’s take on this though, shame I don’t know the bloke to ask.

Pew Research on Millennials

https://bitly.com/bundles/pewresearch/H

includes http://www.pewresearch.org/fact-tank/2015/02/09/who-are-europes-millennials/

The future belongs to the young. But what if there are not many of them?

Nowhere is this more evident than in Europe, a rapidly aging region facing severe economic challenges. What the dwindling youthful population of Europe believes and how their views differ from their aging and far more numerous elders may go a long way toward determining Europe’s fate…..

In another;

…They lack a sense of agency: A majority don’t feel that they can impact the world around them or their future, a stark contrast with their American counterparts…

They are correct. This is the result of child-centred self-esteem parenting models. If it doesn’t come easily (circumstantial reasons) they succumb to defeatist fatalism that it must be impossible.

Interesting report. Superficial, of course. Case in point for Special Snowflakes;

Talk: Why 30 is NOT the new 20

Clinical psychologist Meg Jay has a bold message for twentysomethings: Contrary to popular belief, your 20s are not a throwaway decade. In this provocative talk, Jay says that just because marriage, work and kids are happening later in life, doesn’t mean you can’t start planning now. She gives 3 pieces of advice for how twentysomethings can re-claim adulthood in the defining decade of their lives.

Compulsory viewing.

Teenagers don’t exist

http://freenortherner.com/2014/10/03/teenagers-dont-exist/

They were a marketing invention from the 50s.
Some people are pushing for it up until 25, extended adolescence, because 18 years of forcing drugs on unwilling people isn’t enough. They want a longer term of legal control.

Kids used to grow up faster because they weren’t coddled, they were given everything in their teens and treated with respect for carrying adult responsibilities, including a family. There isn’t even a concept of adulthood anymore.Baby Boomers are still partying and fucking around like teenagers, causing STD spikes. Now we’re treated like children until we’re about 30, or worse. Peter Pan Syndrome might be in a future version of the DSM. Is it any wonder Harvard  law teachers are being petitioned to stop teaching rape law because it triggers sensitive students?