Tag Archives: pensioners

disruptions

7 Oct

london 12.01pm 14C sunny monday 2019

the news today is of the extinction rebellion group staging road blocks and bridge blocks around london, it seems they will do so for 2wks. it is a inconvenience, esp to us bus users. and it affects the buses coming into my area.

but i guess people can avoid it by just not go on the buses, and use the tube instead. i think they have set a precedent, so anyone now can disrupt traffic by blocking bridges and roads, when they demonstrate. some of them have been arrested, because causing obstruction is a crime. now it would be up to the judges whether they will uphold the law and impose punitive fines. if they do, then maybe people might think twice about using this method of demonstrating to disrupt traffic. if the judges are lenient, then we will be seeing a lot more of these disruptive demonstrations. ah well, so be it. i guess. 

this morning i read this article about british pensioners in europe being fearful of the loss of reciprocal health care in europe. they have moved there for retirement, but now we are leaving, that reciprocal arrangement with health care , whereby the nhs pays for the health care they get in europe will be gone. and they will have to pay it themselves. it is one of the biggest reason not to go abroad for retirement. these pensioners are not to know that we will vote to leave the EU, so they might expect their health care to be quite safe with europe. but people should always bear in mind that they will go old and they will get ill, and they will require some form of long term care in future. and to ask themselves how will they get it if they are abroad… in a country where they dont speak the language, and are they rich enough to afford private care bearing in mind that it might be affordable now, but will it be so years from now, when inflation and costs will double. 

consumption in economic terms

3 Oct

london 12.16pm 14.9C cloudy saturday 2015

lots of newspapers to read in the library today , it being saturday. 

very interesting article in today’s Financial Times. i read it in the library. as their online website has a paywall.

it tells of a 71yr old japanese man who committed suicide on a bullet train by setting himself on fire by pouring petrol on himself. i googled it, and found that the report came out on 30june 2015. a woman passenger in the same carriage died of carbon monoxide poisoning.  26 others suffered smoke inhalation. it was the first case of selfimmolation on a train. 800 people were on board. he offered 1000 yen bill to a woman who refused it and then he told her to run away before he doused himself in petrol.

added. this article says he got $1600. a lots commented that he was very selfish, because younger generation wont ever get much pension as well as endangering others. 

why did he do it? it was later discovered it is not a political protest, simply he was unable to cope with his poverty. he gets $1000 a month, but have to pay for rent etc so that he is left with $200 to live.
and it seems family ties are weakening so that many pensioners have lost touch with their family and so cannot rely on them to help out. 
medical bills are not free, even if u are poor u have to pay a certain percentage of it. and there are 7 pensioners for every 10 salaried workers.

that is what the FT article said was the reason for his suicide, and if u did not know that  the man offered 1000yen bill …you too would accept the FT report as the reason. but he isn’t totally  penniless. one can only speculate what makes people commit suicide. maybe there is more to it than meets the eye and poverty is not the only reason. also one would have thought if u are going to commit suicide why do it on a busy train, endangering so many others?

the govt is trying to increase consumption. i have been discussing this with someone on his blog and he says it is not necessary to have so much consumption but i think japan illustrates why consumption is so important.

the japanese economy is stagnant because no one wants to spend money. they are great savers, and so they hoard their money in bank accounts that do not pay much interest. that money is locked up. and without consumption, there is no growth, which means businesses are just marking time, not increasing their turnover, making the same profit every year…. and that means govt income from taxes remain static whilst expenditure rises and so it cannot balance its books. the govt is having huge debts because its outgoings exceed its income from taxes etc.

what will make those savers spend? only if they think inflation will eat into their savings or make goods or services more expensive in future, so it will be more expensive if they postpone buying them now. that makes those who want those things to decide it is better buy it now.

so the japanese government (govt) is trying to increase inflation, so that people will spend.

it is one of the perverse result of low inflation…that people avoid or postpone spending as prices are falling, and they want to wait as they know prices will fall even lower later.

if there is inflation, people will buy now rather than wait for prices to rise and so they start spending.

for the individual it is not worth it to spend, and they welcome lower prices, but to the govt that means less profits to tax and income revenue is less.

people who can afford to , should spend and buy things or services. they would help the economy.