What type of people own high-high-end gear?

[martian sunrise]

what about the guys from google's kids? they will have that education bought for them and end up in good jobs...

[RothwellAudio]

It isn't a zero-sum game. One person being fabulously wealthy is not preventing another person from becoming wealthy.

I think they are preventing people from having what would otherwise be within their grasp. The fabulously wealthy in London have pushed up property prices to the point where most people can't afford to buy. The same applies to the rest of the country to a lesser extent.

BTW, one of the (many) outrages of the past ten years is the way savers have been robbed. The low interest rates have deprived savers of literally billions of pounds. Of course, bankers get their million pound bonuses because they have "talents" that we mustn't lose. What talent????

[Macca]

I think they are preventing people from having what would otherwise be within their grasp. The fabulously wealthy in London have pushed up property prices to the point where most people can't afford to buy. The same applies to the rest of the country to a lesser extent.

BTW, one of the (many) outrages of the past ten years is the way savers have been robbed. The low interest rates have deprived savers of literally billions of pounds. Of course, bankers get their million pound bonuses because they have "talents" that we mustn't lose. What talent????

Fair point about the property, but you can still buy cheap property in some parts of the country. Not many Russian Oligarchs pushing up prices around here.

Low interest rate have made mortgages more affordable so that is a double-edged sword.

In the past we had the concept of noblesse oblige - in that those who had become wealthy via good fortune or inheritance recognised that an obligation came with that wealth and used it to look after people.

Regretably the concept of a 'meritocracy' has killed that to an extent, now we have the 'I earned it so it's all mine, so screw you' attitude.

Although 'meritocracy' is now considered to be a good or ideal concept, the term itself was actually coined to describe a society that is socially dysfunctional due to the rich assuming they are rich because they are hard working geniuses and that the poor are poor because they are lazy and stupid.

[farflungstar]

Here's a prediction - I will be dead by the time it comes true.

The elite want the world for themselves without the poor crawling scum that shares it with them. But we are useful, we do their work, we build things for them, we clean for them, invent for them - but they want robots. When we have robots we will no longer be necessary, or at least a very significant portion of us - and so they will unleash a plague, a pandemic to kill off everyone but a chosen few. Those left will be forced to apply for permission to have a child.

This is their agenda - not setting up camp on Mars as some would have us believe.

[Rothchild]

what about the guys from google's kids? they will have that education bought for them and end up in good jobs...

Ergo they may have crossed the line - my point wasn't about paid for education per-se it was about the definition of 'earned'

One of the more interesting radical ideas I've ever heard was the notion that the only tax should be inheritance tax, so people can generate and use as much wealth as they're capable of during their lifetime but the incentive is to put it back in the economy before you die, because you can't pass it on. This helps bypass some of the socially unhelpful behaviours that spring from accumulation and sedimentation of power, each generation truly will rely on its 'merit' to make itself, you can deliver your kids a 'head start' during your life but they can't rest on your legacy.

[hifinutt]

all about priorities . many of my friends have expensive cars and go on expensive holidays .i prefer to spend money on hifi !! [ not so high end i admit !]

[martian sunrise]

Ergo they may have crossed the line - my point wasn't about paid for education per-se it was about the definition of 'earned'

One of the more interesting radical ideas I've ever heard was the notion that the only tax should be inheritance tax, so people can generate and use as much wealth as they're capable of during their lifetime but the incentive is to put it back in the economy before you die, because you can't pass it on. This helps bypass some of the socially unhelpful behaviours that spring from accumulation and sedimentation of power, each generation truly will rely on its 'merit' to make itself, you can deliver your kids a 'head start' during your life but they can't rest on your legacy.

It can't work. The wealthy will find a way of giving it to their offspring before they die and the povvs (like me) will lose out even more when they can't even pass on the little bit extra they have earned.

I understand your point about earning it, but it is a blurry line

[Macca]

Here's a prediction - I will be dead by the time it comes true.

The elite want the world for themselves without the poor crawling scum that shares it with them. But we are useful, we do their work, we build things for them, we clean for them, invent for them - but they want robots. When we have robots we will no longer be necessary, or at least a very significant portion of us - and so they will unleash a plague, a pandemic to kill off everyone but a chosen few. Those left will be forced to apply for permission to have a child.

This is their agenda - not setting up camp on Mars as some would have us believe.

Maybe, but IME very rich people are not bothered, they don't hate poor people and want to see them suffer, but likewise they are too wrapped up in their rich lives to give it any thought. They live in opulent areas, go to the best shops, stay at the best hotels, poor people are just not on their agenda as they never have to mix with them.

[Joe]

Fair point about the property, but you can still buy cheap property in some parts of the country. Not many Russian Oligarchs pushing up prices around here.

Low interest rate have made mortgages more affordable so that is a double-edged sword.

Aside from Russian Oligarchs, another factor is the buy-to-let market. In some towns/cities, entire streets are bought up by cash-rich investors on low-rate mortgages, thus depleting the housing stock for young couples and families seeking a toehold on the housing ladder.

[Macca]

Aside from Russian Oligarchs, another factor is the buy-to-let market. In some towns/cities, entire streets are bought up by cash-rich investors on low-rate mortgages, thus depleting the housing stock for young couples and families seeking a toehold on the housing ladder.

May be true in some areas but 20 years ago rents round here were £300 to £350 for a 2 bed terrace in a not that good area. Now it is £500 to £600; allow for inflation and that is pretty static. But there is a lot of private rented accommodation in these parts so that will keep prices down to an extent.