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Anorak | Baby Boom And Bust

Baby Boom And Bust

by | 3rd, October 2008

Elderly (that seems to be 50 plus this week) Euro shakers and movers are scrambling to shift their money and interests around today. Not quite being able to make up their befuddled, creaking, ageing minds.

The Baby Boomers are retiring, the 50 to 60 somethings have cashed in on long-term pension plans and many have cash nest eggs larger than the UK.s £35,000 guaranteed savings in one banking place.

As Chenier predicted – in Anorak a couple of days ago – Northern Rock and National Savings schemes (all money guaranteed by the Government) have been swamped as the Children of the Revolution…the ’60s Swingers, who are now 60-years-old, scramble on an hourly basis to swap money and their interests around.

Those bright young things of the age of the mini-skirt, free-love, Sunday Time Colour Supplement, the ones who remember whose bed they were in when John Lennon was shot dead, the Chelsea boot set have suddenly woken-up to the awful fact time has moved on.

For them it’s the face-hair removal appointments, breast scans, lumps removal, prostate tests and false teeth stage as the six-hourly prozac/ibruprofen cocktails fail to kill the pain of the prospect of being penniless and alone.

The Telegraph’s picture of last year’s bank rush on Northern Rock. The scramble is now to get back..

Yesterday Northern Rock shut it doors again…it stopped taking new money into the better savings rate accounts…and that’s an irony… a Nationalised Bank which refuses cash.

The situation is the Flower Power generation has watched its own children…the present shakers and movers… stuff it up completely and now find themselves locked out as the best options are barred to them.

As they now try to shift cash out of HBOS/Lloyds-TSB accounts into the coffers of yesterday’s pariah, Northern Rock, the self-same scorned one tells them to sod off. That’s also a new one, the Government saying it will not accept further risk in the form of cash given to it!

London Tower’s Traitors’ Gate was always a difficult one to re-open and shipwrecked sailors wearing maillots (sic) rapidly get hypothermia when the lifeboats sink..I’m told.

…and for any low-brow blue-rinse Euro data-theft criminal hoodies around waiting for the tumbrils …that’s an elemental allegorical story and you really shouldn’t strain yourselves just have another drink, belt it on down, you’ll feel a lot better when the bailiffs call.

See: Savers Flock to the Rock

– AGW



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