The definition of poverty in the UK is a complex issue and
if you don’t believe me read
Or
However this graph probably paints an accurate picture:
What this shows is that in the first five (youngest) age
groups poverty has increased in the last ten years. Overall there are now over
13 million people in poverty in the UK.
The reason that people under 60 are becoming poorer is
because those earning wages (or who are salaried) have seen wages stagnate
since the crash of 2008, but those over 60 who are more likely to hold assets
(like a mortgage free house) and asset prices are booming.
See this article for detailed explanation:
This is the story of the world economy. Since the crash the rich have become richer
and the rest have become poorer.
The real problem with this is that in other times of
financial troubles have tended to be circular and a bust is followed by a boom.
But today there is no sign of a new boom 8 years after the
bust and the usual economic stimulators like low interest rates (cheap money)
have had no effect.
In fact the policies of the US Federal Bank, the Bank of
England, the ECB and the Bank of Japan, have exacerbated the problem. Between
them these four central banks have created about $7 trillion dollars of new
money (Quantitative Easing) without any significant world economic growth and
it seems most of this money has inflated asset prices worldwide.
See:
So what is the answer to these problems?
If it were up to me I know that I would not seek advice from
any current politician or central banker because it is they who have led us
here. We need a fresh start.
