Monday, October 08, 2007

A selfish generation

I think my generation really has been the most selfish in history.

We were the first to benefit from universal secondary education & many of us also got a free higher education

We coped with the oil price shock by letting inflation rip. Thus wiping out the savings of older generations & reducing the burden of our own indebtedness

We refuse to pay for the higher education of other peoples children

We mortgage their future to finance public investments from which we benefit now

Now we want to pass on the benefits of asset inflation to our own children without contributing anything to the general good of those, whether through bad luck or bad judgement, failed to come to that particular party

And I forgot about what we have done to pensions