Many people are wondering how the current problems came about:
3. No-one, other than the British Government, believes that the rate of inflation has ever been less than 7% over the last decade and today it is clearly more than 15%.
7. The ‘growth’ in the profits of most western companies since 2000 are really due to understated inflation figures.
8. The governments of the Western Nations have depended upon their people borrowing more and more as their manufacturing capability has been lost.
10. Low interest rates that do not reflect the real level of inflation will always encourage people to borrow and spend but the consequence is that saving is pointless.
11. It does not benefit the pensions industry, the banks or the Government to admit that any young person that saves for their old age is wasting their time.
20. Although it has not been spelt out to them most young people know that they have no real future and that many of the opportunities that their parents had will be denied to them.