It's All Their Fault

Author(s): Neil Boorman
Original Publish Date: Apr 06, 2010
Product Number: EB00609283
Released: May 17, 2015
Business Term: 26 Circ
ISBN: #9780007364862
Publisher: The Friday Project
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A call to arms, a chance for those born in the 70s and 80s to respond to the chaos. We can not stop the debt bomb but we can remove the Boomer politicians from office. There will be a general election in May. This is our opportunity to kick them out of power. This is a terrible time to be young. Graduates are joining the dole queue as soon as they leave university, while their parents retire on cosy nest eggs. First time buyers are struggling to pay off mortgages on shoe boxes as their folks buy second homes abroad. Young families are struggling to provide the basics as their grandparents embark on another cruise. Every baby in the UK is born owing 22,500, a share of the 1.4 trillion credit crunch bail out. The average student graduates 20,000 in debt. The prospect of paying off that debt and saving for a deposit for a one bedroom flat is remote, and it is all the fault of our parents. Anyone under the age of 35 is living in the shadow of the Baby Boomer Generation who grew up in an era of rapidly growing prosperity, drew wages from jobs for life, got their education for free, and bought multiple cars and TVs that they didn't need. The enormous financial debt we've been handed comes from both their megalomania of overspending and their reckless economic and political decision-making. And it is going to get worse. There are roughly 900 days left until the Boomer time bomb goes off and they reach retirement, cease to pay taxes and start drawing pensions. We have one chance to create change, and this is it.

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