Good FT piece praising higher inflation as a tool to redistribute wealth from old rich savers in Japan to young/poor ft.com/intl/cms/s/0/6…
— bernardchickey (@bernardchickey) March 22, 2013
@bernardchickey So why would I bother saving, Bernard? Seems no point to me. May as well spend b4 inflation gets me, then retire on state.
— Mark Hubbard (@MarkHubbard33) March 22, 2013
@markhubbard33 @bernardchickey Those old savers worked all their lives; young done nothing yet. You advocate straight out theft.
— Mark Hubbard (@MarkHubbard33) March 22, 2013
@markhubbard33 I'm not advocating here yet. A particularly Japanese issue. Key is making sure young have jobs. Can't abandon a generation
— bernardchickey (@bernardchickey) March 22, 2013
@bernardchickey Shouldn't feed granny to them either.
— Mark Hubbard (@MarkHubbard33) March 22, 2013
The best way to help the next generation is for the government to get out of
their way, not putting up road blocks like the minimum youth wage; and even
before that, not creating a society where 20% of them are now born into a
parent’s welfare benefit. Welfare was never meant for that. Micky Savage would
be turning in his grave.
And by the way, Bernard, I noted the use of the word 'yet' in your second post: hardly comforting.
And by the way, Bernard, I noted the use of the word 'yet' in your second post: hardly comforting.
What sort of retard thinks the poor, on fixed incomes, benefit from inflation?
ReplyDeleteHickey is a quack, he had a Damascene conversion to Krugmanism not too long ago, and makes the fatal conceit of thinking that government mandated transfers are morally righteous, without caring to look behind the curtain of collectivising vast groups of people as to their own circumstances.
It's the way he - and every Left politician - so casually talk about confiscating people's property to fix problems as they perceive them, that is so chilling.
DeleteMark
ReplyDelete20% of them are now born into a parent’s welfare benefit
since when did WFF stop being a welfare benefit?
since when did Plunket, State Schools & State Hospitals stop being welfare benefits?
The plain truth is that more like 80% of "Kiwi Kids" are born into welfare. That estimate's conservative, some say up around 95%.
I stand happily corrected: you're dead right.
DeleteWhat sort of retard thinks the poor, on fixed incomes, benefit from inflation?
ReplyDeleteThese days "the poor" aren't on fixed incomes - they're on inflation adjusted benefits from the state. So only people lose from inflation, people with liquid assets, not bludgers.
Remember that if you had deposited say half a million pounds into Euros in Cyprus the day Gordon Brown lost the election - you'd better of today after the 25% confiscation than if you'd just kept the money in a bank in the UK. And you'd be far better off after a 25% confiscation in Euros than if Cyprus goes back to the Cypriot Pound.
Of course, you've got to get your money out as soon as the banks reopen....
That last step could be going to get quite tricky.
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