Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Cogito Ergo Sum who wrote (39645)	10/15/2003 11:10:15 PM
From: elmatador	Read Replies (1) of 74559

<<wealth transfer>> is already happening. See my reply to GZ: Message 19397862 <<If you have a son and he's a mamone, i.e., he lives like when he was a 7 year old, in your house eats your food, you wash his clothes etc. He isn't jobless even if he is "looking" for a job.>> The mamone phenomenon -very common in Europe- is wealth transfer. Older people will have to keep wokring for long time, thus not leaving the eowkr force so that he young can tak eover their positions. Paying unemployed people a minimum subsistence level is wealth transfer. Paying subisidies to famres is wealth transfer. That said, I can see many older people, who doesn't have a mamone as a sibiling. The son/daughter, who has more disposable income, than his brother or siter, offers to buy daddy's property, repair it and let the old folks leave there as long as they live. The old folks, will live more comfortably while taken good care of the property. But if in the future the number of mamones outnumber the number of sibilings with disposable income, there won't be much wealth to be transferred.

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