The rich are getting richer and they don't care about those who aren't. It's that simple.
This argy bargy banter going back and fourth between the generations has gone far enough. For goodness sake, money doesn't even exist yet we throw the threat of losing is around like we're taking our last breath.
I'd better be attending some pretty amazing funerals of these wealth driven baby boomers in years to come for they ultimately will only be the richest humans in the grave yards, nothing more, and nothing less.
The childish banter that is thrust upon us on our screens and in our print media day in day out is outrageous. Honestly, how do we expect our future humans to behave in an 'appropriate' manner when the behaviour displayed by grown adult humans is nothing short of temper tantrums and slagging at each other? This occurs on our morning shows and at this countries political level. Shameful.
I feel like I should challenge the definition floating around invented by the over 50's of the 'millennials' as we've been termed. We are said to the generation born after 1980 who expect everything for nothing, get prizes for simply turning up to things and want to go straight to the top when we get out of Uni. I feel like a point missed here is that were it not the adults around us during our younger lives that decided to patronise us with prizes for attendance, telling each of us we were special and amazing and throwing more material possessions at us than generations gone by?
I might also add here, I was born in 1983, I grew up on a farm and money was tight. I knew this so I did not expect miracles, we had food on the table every night and cloths on our backs as kids and this was enough for me. I decided early on in life that I wanted to buy things one day, so I started working at a dairy farm at the age of 13 and thus began my working life, like many people I know of this 'millennial' generation, despite what the over 50's say from their V8 4WD Vehicles in the city in transit from one investment property to the next in between games of golf and counting the numbers on screens that they believe is real money.
Oh, did I just make a generalisation there?
There is a massive underrepresentation of the millennials in the data, and that is those who are out there working 3 or 4 jobs to just get by plus put some away to live life. Factor high rent, food, fuel, private health insurance, loans, running vehicles, mobile phones, internet and all of the modern cons of life these days, which, mind you have stemmed as a result of the current over 50's lack of foresight, knowledge or skills in basic accounting has created, and we have a number of hamsters on wheels here who are facing a dim future compared to that of generations passed.
Conversations such as these happen often right now in the world we live in. I can't fathom how one believes that property investment is the be all and end all of financial security. I can't fathom how it is thought that by allowing negative gearing to continue to operate the way it does, that the system will continue to sustain itself. I can't fathom that people are borrowing in excess of a million dollars for 2 or 3 properties on top their barely paid off original mortgage and that they feel nothing will go wrong with it.
The current property council advertising campaign shows a deck of cards collapsing and how this will happen if there are changes to negative gearing. Well no shit, of course the deck of cards will eventually collapse because the housing market has become an entity unto itself and it is pointed out during each argument that no one is getting paid any more...
If there were 20 people given a total of 20 litres of water and they were allowed 1 litre of water each, then 1 person decided to approach another to buy their litre of water and then rent it back to the other person, this simply would not happen. Number 1, there would only be 20 litres of water in total, number 2, what possible gain would anyone achieve, number 3, it's stupid and defies the laws of logic and common sense. Something which our schools or universities fail to teach, hence the loss of the art, it's an extinct species so to speak.
But if we were to invent more water based on this base 20 litres of water and then make it electronic and put it onto a screen, or even on a bar graph, or even a chart, then perhaps, just perhaps we could make more water! Right? Right? How about no?
I feel like I have just uncovered a major flaw in the world that we know, but then again I also feel like this flaw is the elephant in the room that no one wants to talk about because deep down, despite positive affirmations and quotes on Instagram, people want nice things and they want to feel better than the next person by having nice things and also power and control over them. And there it is, money, power control, the ego driven system that we've allowed to be built right before our eyes because it's said to be convenient.
WAKE UP HUMANS.
So I realise that this started out as a specific topic and has gone a little off track, but in my opinion, it's all relevant as it gets back to a core topic of many of the issues we face in the world today. The need for massive change and to attack issues at the source, not just put band aids over the symptoms until we can't see them anymore and are able to draw from our self-managed super funds, spend our kids inheritances, post the pictures on the internet and then die. Leaving a trail of destruction for the next generation. But at least we told them they were special and could achieve anything they want if they put their minds to it.
This piece was originally published as There is something we are not talking about with this Negative Gearing debacle.