3 comments on “Timmy Elsewhere

  1. The cohort approaching retirement also contain the last vestiges of the old fashioned work and self-reliance ethic. I suspect there is a downward step function in our national future, when this workforce retires. And the only way to sort out the mess will be to write off an entire generation, pick up the children, and start again.

  2. I don’t think that’s true. Those aged 25-35 produce more goods and services today than those aged 55-65 did when they were that age.

  3. I wonder also if the Barclay’s study into default rates take into account the large amount of UK debt that is held domestically, and (as you hint at) the pressures this gives on not defaulting.

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