Why do millennials feel so skint? | The Today Podcast

[@sluglife9785]

Torsten is being parachuted into a safe Labour seat as an MP this election. Wouldn't be surprised to see him on the front benches next year.

[@dangriff12]

The flow of money has gone to the top faster than anytime in history.

[@m0o0n0i0r]

Im 41, I grew up poor. Lived in Leeds, then we moved to the West Mids, Wednesbury. Got a job after GCSE, then an apprenticeship earning 70 GBP per week. Then went to university. Tuition fees of 3k per year, with student loans. But I moved SE. My degree was in technology but I could also program. I got a job in the SE and today I have my own 3 bed house. I could pay of my mortgage but I fixed it for 10 years at 3%, I eanr more in savings. I graduated in 2007, and was renting a room in a HMO. The government decided to decmiate my savings rates due to QE and ZIRP while bailing out home borrowers and landlords. My point is if you think government is going to fix anything you have another thing coming. Once the government goes bankrupt seek an IMF bailout only then will anything be fixed. This is why democracy fails because doing the right thing might may not be the most popular thing.

[@meala23]

1:05 ... But let's be clearer please, because in fact it wasn't "the whole country“ who had “a terrible time during the pandemic and the cost of living crisis“, was it? The very richest citizens got significantly richer during this exact period, sucking up public resources, all while living in ways that clearly demonstrated just how unaffected they were by the restrictions (flying in private jets, partying on private islands, or in Downing Street, etc) Everyone else had a terrible time indeed, and that is set to continue until we collectively act to radically reverse this worsening inequality.

[@meala23]

Torsten made many interesting points, but it was disappointing that his only mention of economic inequality was to dismiss it as a relevant aspect of this discussion. It would be very interesting to hear Torsten in conversation with Gary Stevenson about these topics.

[@andersmller7426]

Apparently” Brexit” is not a reason for the present economic problems in the UK that the BBC is allowed to mention. Pretty amazing that Amol Rajan - when talking about economic shocks - manages to mention the economic crises of 2007, the pandemic and the energy crunch but somehow misses “Brexit”.

[@baoboumusic]

Get this man in parliament and into the cabinet. Fast.

[@joepiekl]

The UK now is basically Japan since the 90s. A lost decade fast becoming two lost decades.

[@ParaquatSC]

An imperial nation readjusting to being a non imperial nations, that's why. We are living in a graveyard.

[@zxG777]

The money is there... its just at the top, not sure I can take anyone seriously who says further productivity is needed

[@morecowbell235]

The top 10% own too much of the wealth and there is no check on housing price increases.

[@steffmay7969]

Torstens long list of "If's" at the end basically mean that if you're in your late 30s, early 40s its pretty much over for you. Gen Z would reap the benefits of those "if's" coming true but even then it would be towards the end of their working lives.

[@Jon-hh3gz]

Capitalism without capital, yep.

[@ItsWesSmithYo]

James Hype not mad about it 😂

[@jamessmithson-br7rm]

It’s because they are skint

[@quantiepistemology]

It's funny because growing up as poor as I did, and still considered a poor person now, I don't feel skint. I think it's about perspective and priorities, most people have plenty of money. It's just far more important to them to have the latest Alexa than it is to invest in themselves to do more instead of have more. Bit harsh for me to say, but it's true.