Friday, December 2, 2016

Wealth, Censis: “the Unprecedented and perverse game, the intertemporal transfer of resources that has knocked out the young” – Il fatto Quotidiano

Compared to 25 years ago, the young today are income 26.5% lower to that of their peers of the time, while the over 65 years increased by 24.3 percent. To do the accounts is the Censis in his Ratio 2016 on the Social Situation of the Country. "Are the obvious outcomes of an unprecedented and perverse play debt of the transfer of resources that has literally knocked out of the economically the millennials", says the institute. According to which the wealth of the millennial is lower by 4.3% compared to that of their peers of 1991, while for the italians, in the w hole, the current value is greater than 32.3% compared to that time, and for the elderly is greater than even dell is 84,7 percent. Compared to the average of the population, today the families of the young people under the age of 35 who have incomes lower than the 15.1% and a wealth lower than the 41.1 per cent, notes the report. The gap between young people and the rest of the italians was expanded in the course of time, because twenty five years ago, currency to the report, the incomes of young people were higher than the population average of 5.9% (while today they are lower by 15.1%) and richness was lower than the average only 18.5% (whereas today it is 41,1%).

Always on the front of the economic availability, the Report finds, like Italy, which has paid out investing in the future, and the expectations of our fellow countrymen continue to be negative or flat. 61.4% of the population is, in fact, convinced that your income will not increase in the coming years, 57% believed that children and grandchildren will not be living better than them, and also think about 60.2% of the wealthy, "frightened by the downsizing generational expected". From the framework outlined by the Censis then emerges that 63.7% of italians believes that, "after years of consumption contracts and the accumulation of new savings as security, the inevitable outcome will be a reduction in the standard of living". Make long-term investment, notes the institute, is an option for a number of people (22.1%) much lower than that of those who want to enhance their savings (56.7%) and cut is still the ordinary expenses for the house and food (51.7%). "The immobility of the social, which produces insecurity, which explains the increase in the flow of cash," the report said. Compared to 2007, from the beginning of the crisis, the italians have accumulated additional cash for 114,3 billion, "a value greater than the Gdp of an entire Country like Hungary", report of the Censis. In short, Italy, and the rentier, "is limited to the use of its resources without projection on the future, with the risk of selling off piece by piece of silverware of the family."

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