Being of the baby boomer cohort which often seems to get its jollies attending auctions and clapping those purchasers who pay a record, or near record, price for their home, I sometimes feel like a trout swimming upstream, or a Canute telling the waves to recede.
But then I’m reminded of colleagues here and abroad who are fighting the good fight, and of the many X and Y gen they’ve influenced to see the theft the rentier class is employing to enrich itsef at society’s expense.
Clearly, baby boomers do get a warm inner glow as they witness their property prices increase, but they’re oblivious to the vast collateral damage land price bubbles wreak upon the wider community when they burst.
They little realise the real estate market must self-correct from this incredible bubble.
To the question: “If escalating land prices are a natural supply/demand phenomenon, surely future generations of Australians will be priced out of the market?” baby boomers respond that their children will inherit their property assets, so they’ll be OK. But will they? Will their kids continue to have jobs as society disintegrates as the financial collapse worsens? Will they continue to carry excessive debt, even with their inheritance-to-be?
Unfortunately, it’s a big ask to get boomers to see the perversity of applauding high real estate auction results. How to get them to see the economy can’t withstand the ongoing assault of taxation and high land prices?
That’s the $64 trillion dollar question.
Maybe boomers are too far gone, and X and Y gens are the hope of the side?
And Baby Boomers lost the main message of Easter too, which is to forgive debts / Sins or atonement and renewal the season through a Debt jubilee, instead they wish to inflate the bubble and ponzi or put the pieces broken shattered Nest egg or bubble back together again. The fake egg and its golden goose have become dinner on the table of the Easter feast, time for a debt jubilee, as old testament preached and how Christ said I have come to fulfil the law not take it away, it is finished and died on the cross. Forgive one another as I have forgiven you of your debts. A failure to head this advice always Leeds economic depressions, to wars and turmoil adding sin upon sin to the fourth and fifth generation. Multigenerational debts that cannot be paid, oppression captivity and enslavement of humanity its fruits.
I’m no Babel Boomer, those who tried to build a credit tower to heaven out of decades of credit binge, corporate and landlord welfare, and investment free lunches, privatisation of public assets and the printing of money and selling of the farm and Gen X Y future, but the euphemism for putting more on Baby Boomers plates, is the term ‘Aging population’, its’ a mantra that is growing louder every day, and it has grey power to back it up, its the ultimate psychological trickery, to garnish concern about a greedy generation that has had more wealth that their parents or younger children, many who have given up on having children, marriage and ever owning a home, let alone all the holidays and career cars and job security as well as property perks, floated by decades of credit fuelled fake prosperity and selling of public assets at fire sale prices. Now it’s all gone, and nothing left for the Gen X Y, children but electronic toll-booths that don’t work or gobble up you pre-paid money cards, see Myki debacle of ticket system. Well, your pensions just keep going up, time to sell that investment property at a loss even though its doubles in price over the last twenty years. But no Its no stopping their, these people turned the debate at Easter, that is to do with equality and Jesus, into a ‘what about us’ festival, that they wont survive the coming winter, despite three pension rises in last couple of years while no changes in rates for students and others struggling on fixed benefits, this is all happening while the GFC property bubble of their making comes unwrapped in spectacular fashion, and young people find all kinds of austerity on their productive not for profit lives, with inflation and cost of living. But don’t worry if you your ‘poor old me’ baby boomers, we just want to float the bloated asset rent free lives of one generation who has had plenty of time to get their houses in order for retirement, but decided to leverage their retirement on placing austerity on young people. The conclusion is younger generations have had Austerity in the form of privatisation of assets and education which has added to the cost of living, along with the erosion of workplace job security, and the burden of higher cost of living than their parents, who owned their homes through asset inflation off a fake credit prosperity heist on the children gen x, which the piper wants to be paid, and the ransom is gen X Y will have multi generation mortgages and no income security, and flat line bear austerity for next fifteen years, while the aging population baby boomers secure another decade of leveraging on a flunky consolidation at expense of younger generations, and a funk hole of eroding living standards of rights, liberty and freedoms
As government prepares to tackle the ill winds of disproportionate wealth and the hurt feelings that rise to the surface, when rich foreigners are buying up everything for a penny in the dollar. Funk hole economics 101.