«it is not boomers who vote for reaganism and thatcherism, it is *property owners*»
And specifically those property owners, of any cohort, who get huge redistribution from the lower classes via government-engineered booming property prices and rents. They vote for reaganist/thatcherite politi…
«it is not boomers who vote for reaganism and thatcherism, it is *property owners*»
And specifically those property owners, of any cohort, who get huge redistribution from the lower classes via government-engineered booming property prices and rents. They vote for reaganist/thatcherite politicians to keep that redistribution going flowing into their wallets.
This is important because there are two large categories of boomers (in the UK, the USA, etc.) who are not necessarily so fond of reaganism/thatcherism, and have economic interests similar to those of younger cohorts:
* The boomers who lost their jobs in the mass outsourcing and offshoring of industry of the 1980s and 1990s in the "pushed behind"/"rustbelt" areas. These boomers usually never recovered from losing a steady job and often never had a "proper" job again, living from casual jobs and welfare. These people either never had the money to buy a property or lost the property they had.
* The boomers who already owned a property in the 1980s/1990s in the same "pushed behind"/"rustbelt" areas, as those property often became entirely worthless or at best slowly fell in price; because property prices and rents are in effect a private tax on wages and in areas with rising unemployment and falling wages they cannot boom.
This maps shows property price changes by UK region 2005-2015:
I have to clarify this because it is important:
«it is not boomers who vote for reaganism and thatcherism, it is *property owners*»
And specifically those property owners, of any cohort, who get huge redistribution from the lower classes via government-engineered booming property prices and rents. They vote for reaganist/thatcherite politicians to keep that redistribution going flowing into their wallets.
This is important because there are two large categories of boomers (in the UK, the USA, etc.) who are not necessarily so fond of reaganism/thatcherism, and have economic interests similar to those of younger cohorts:
* The boomers who lost their jobs in the mass outsourcing and offshoring of industry of the 1980s and 1990s in the "pushed behind"/"rustbelt" areas. These boomers usually never recovered from losing a steady job and often never had a "proper" job again, living from casual jobs and welfare. These people either never had the money to buy a property or lost the property they had.
* The boomers who already owned a property in the 1980s/1990s in the same "pushed behind"/"rustbelt" areas, as those property often became entirely worthless or at best slowly fell in price; because property prices and rents are in effect a private tax on wages and in areas with rising unemployment and falling wages they cannot boom.
This maps shows property price changes by UK region 2005-2015:
https://loveincstatic.blob.core.windows.net/lovemoney/House_prices_real_terms_lovemoney.jpg
http://www.lovemoney.com/news/53528/property-house-price-value-real-terms-2005-2015-uk-regions