Won't they also give us all their assets when they die off? Or will they be the first generation to achieve immortality?
Nah they are too busy frittering away all of their assets on reverse mortgages.
So if they do achieve immortality we will be in dire need of some pretty significant restructuring for both the the dole and pension 
Bit rough to say they gave us debt. Yes they inflated the house prices to ridiculous levels thru neg gearing etc....... but was Gen X and Y who have to have a 4x2 with home theatre, 2 new cars, a $3000 telly (WTF is with that
, to use for 2 hrs a day 
) and a kitchen that pro's would be proud of.... yet they eat out 3 times a week.
All on credit............
, to use for 2 hrs a day ) and a kitchen that pro's would be proud of.... then they eat out 3 times a week.
No, "Debt" is a concept you took on all by yourselves because of your requirement in life for "instant gratification".
We offered you the concept of "delayed gratification" that we learned from our parents and grand parents who learnt the concept of "sacrifice" during WWI and WWII.
Because we listened and learned from those that were wiser than us, we then went out and worked and built "The Wealth".
We offer you "The Wealth", but we are not going to hand it to you on a platter so you can go out and squander it.
It is YOU who have turned us into 'SKINNERS' (Spend the Kid's Inheritance Now).
The world does not OWE you a living or a life.
If you want to inherit "The Wealth", you have to earn it first. The best way to earn it is to do something for yourself.
The ONLY way to do something for yourself is by doing something for somebody else.
Quit your bitching, wake up and get real. Cheers Cisco
The Baby-Boomers I know gave me a good upbringing and education so I had a head-start when I left home.. (thanks for that Dad & Mum)!
As for the general population of BBs I don't think they've contributed much in the way of debt... (national debt or otherwise).. but I'm not looking forward to my taxes being used to fund the extreme burden the non-self-funded-retirees are about to place on our already struggling pension and healthcare systems.. 
cisco that is all well and good but it is not that simple......... the above average income earner cannot buy an average house easily now, back in the 60's and 70's it was less than half the average wage spent on a mortgage (monthly paymentt that is) , now it is a lot more..... can't remember the figures.......... but it is a drastic increase and housing prices are a real problem
Boomers are to blame with that one..........
High house prices are only partially the fault of a particular group of society. Public policy is more to blame. It now costs much more for developers to subdivide and open up land. This increased cost is due to a number of factors, mainly ones resulting from government decisions.
Building costs have increased dramatically. Improved building codes mean increased costs. Workplace safety laws increase costs. Raised customer expectations increased costs.
Federal government policy has pushed residential prices up. The family home is exempt from taxation when almost every other asset and income is subject to taxation. Investment properties are treated very favourably by the income tax system. Grants and stamp duty holidays encourage investment in residential property, thereby increasing demand and prices.
Perhaps the boomers are to be blamed though, they have controlled the political system for some time and don't want to give up control. A crash in residential property prices would hurt baby boomers probably more than younger and older generations. Personally I don't want prices to crash as it would hurt. Whats happened in Japan, Hong Kong and now America with reduced house prices and negative equity would have a terrible affect on many Australians.
If everyone tried to pay out their debts there would be no cash left.There is more debt than actual circulating cash.The system we live under only works while there is debt.
When you are born you are given a number on your birth certificate.This is a stock/bond number that is then given over to the queen and country/commonwealth.Then floated on the stock exchange and borrowed against(debt) which is repayed by your labour for the duration of your life.Kind of like a slave.Big screen LCD TV's etc. are to keep the slaves happy and something to work for.A diversion if you like.
If you don't agree with the system then you have to cut up all your cards and I.D. etc and go into the bush and wear animal skins and eat grubs and lizards etc..
Although i have pondered this I quite like my TV,computer,windsurf gear and electric blanket so for now and unless the system fails,i will continue my slavery and be happy with my toys provided by my masters.
Stribs that is the main thing........ who cares about the system, just be prepared for when it falls down.......
Preparing Mark preparing. Hmmmm how to fit 3 months worth of food into a sixty litre container......
easy stribs.
why restrict yourself to 60L?
you could do at least a month in 60L if appropriate foods and packed well.... by then you should have alternative sources
Real estate has historicaly been the vehicle by which the wage worker has been able to grow wealth, particularly if he/she is smart and able enough to buy other real property as well as the family home.
The string pullers don't like to see the masses gaining wealth though. Because of that the various levels of government have held back on releasing land for housing, increased development costs and slowed the development process down with inefficient bureaucracy and increased complexity of regulations.
They can't reduce demand, but they sure can reduce supply.
It is a good idea to look at the derivation and understand the true meanings of the words "real estate" and "mortgage".
If you look up "real" in the Oxford Concise Dictionary you will find the first definition of the word referrs to a Spanish coin which in English is a "Royal".
So your "real estate" is actually "Royal Estate'. Try not paying your rates for a while and you will find out how "Royal" it is.
Look up "mortgage" and you will find it is "mort = death + gage= pledge" or simply an engagement till death. You are never meant to pay off your mortgage.
So like a couple of the previous posters say, it either "jump on the band wagon or head for the bush". Cheers.
I don't think that is quite the way it happenned here in Oz ginge but I can see what you are getting at.
As you say though, it has been government policies and decisions that caused or at least set up the conditions for the booms and busts.
So then you might say that the pollies are only just doing the bidding of their constituents.
If you truly believe that politicians and governments reflect the will of the people, you better go out in your front yard now and check that your garden gnomes have not invited some of the local gnomesses around for a wild sex party.
So if a government creates conditions where the average Joe, if he does something more or different, has the opportunity to increase his wealth and have a better life than he otherwise would have, you can't blame him or his generation for the negative consequences. Cheers
You guys are missing the big picture.What "they" are really up to.Watch all episodes before you make judgment on weather it's BS or not.
I know I know the anti-conspiracy thearists are gonna spit peanuts and corn at this one...
Hey Stribo, I didn't miss it, I don't work for the toys (although they are nice). The job I'm in now is the ducks nuts.
What most conspiracy theorists don't realise is that you too can become one of the illuminati, the big all powerful mob, the 'government', the puppet masters etc if you choose to
Dare I say it... if you aren't happy with the job you're in now, then please find a new one that does suit you! Work doesn't have to be drudgery.
Yeah i'm hearin ya Nebbs.But would you want too be part of them? What would you do with the power?
