●Wemostcertainlyare,blogsMerrynSomersetWebb。

PerhapsthemostshamefulaspectofourcurrentmalaiseisBritainsyouthunemploymentproblem。

Therearenowmorethanamillionunemployed16to24-year-oldsintheUK。

Thatsthanksinparttotheirlousyeducationsandouremployment-inhibitingregulatoryenvironment,saysMerryn。

Someoftheyounghaverespondedbyusingfreelancesitessuchaspeopleperhour。

comtoselltheirtimebythehour。

Yetalookthroughthewebsiteshowswhymanyofthesepeoplearestrugglingtogetfulltimejobs。

Itisallservices,rangingfromaccountingtomarketing。

Thatsallfine。

Butitisntenough。

Adependenceonthecircularitythatistheservicessectorispartofwhatgotusintothetroubleweareinnow…。

Maybeweoweittotheyouthwehavesoletdownwithouridioticcreditbubbleandbust;ourfailededucationpolicies;andourwoefullyill-balancedeconomytointroducesomekindofspecialtreatmentforallfast-growingemployerswhenevertheywerefounded。

(ThisissomethingthatMerryndiscussedwithLukeJohnsonwhensheinterviewedtheserialentrepreneurrecently。

)

Itsclearlyatopicthatmatterstoyou,andtheblogattractedplentyofcommentanddebate。

Jonreckonsthatwhatseemsnowtobeshowingupintheunemploymentstatisticsistheyouththatwereencouragedintohighereducationfivetosixyearsago。

Hebelievesthattheinvestmentinhighereducationbackthenmerelydeferredanincreaseinunemploymentfiguresthatwouldhaveotherwiseshownupatthattime。

Meanwhile,DickyJimblamestheUKeducationsystem,whichhebelievesisanationalembarrassmentofthehighestorder…Anyoneandeveryonethathasaddressedtheissueoverthelasttwentyyearsorsoandhadthetemeritytocallaspadeaspadeknewitandsaidsofromthebeginning。

Thesystemhasnowhadtimetoworkthroughawholegenerationofkidsandtheyaretheoneswhoarepayingtheprice。

Sadlytheyarepoorlyeducatedandthatishowtheywillremain。

Ellensabitmoreforgiving:Thewholepointofbeingeducatedistoopenupmoreopportunities…tomakealivingdoingsomethingyouenjoydoing。

Idontbelievetheeducationteenagersreceivenowissub-standard[compared]towhatwentonyearsago…Unfortunatelyforthem,itlooksliketheywillbeaskedtotakeontheburdenofouroldagewithoutgettingthebenefitofourhelptoenablethemtogetareallygoodstartaftertheyleaveschooloruniversity。

Itsoneofthosesubjectswhereeveryonehasavieworasolution。

Clickheretoreadtheblogandhaveyoursay。

●Itsnotjusttheyoungwhofeelaggrieved,saysJohnStepekinFridaysMoneyMorning。

TheOccupyWallStreetprotestsshowthatlotsofpeoplewhowouldntnormallybeupsetbyincomeinequalityarefarmoreirritatednow。

Theyreannoyedbecauselotsofpeoplewhoarestillmega-richtoday,shouldntbe。

Theyhaveonlybeenabletohangontotheirwealthandtheirjobsbecausegovernmentsandcentralbankshaveconspiredtomakeotherspayforit。

TakeBritain。

TheBankofEnglandseemshell-bentondemolishingthepound,whileinflationiswellabovetwiceitstargetlevel。

Sopeoplewithsavingsareseeingthemvanishatanever-increasingrate。

Anditsbeingdonelargelytopropupthebankingsector。

Fine,butitsallpoliticswhydoesitmattertoyouasaninvestor?

Becauseifinflationkeepsgoingup,angrysaversmighttackleitbygettingoutthereandprotesting。

TheBoEmightbecontenttomissitsinflationtargetbutpoliticianstendtobefarlessstubborninthefaceofanaggrievedelectorate。

Thatmeansratescouldrise。

Johnreckonsthat,assumingtheBoEbankratestaysat0。

5%,thepaniczoneforconsumerpriceindexinflationwouldbe7%whatdoyouthink?

Haveyoursayhere。

●Andhowisrealwealthcreatedanyway?

ThatsthequestiononTomBulfordsmind。

Andhesfedupwithallthenonsensethatgetstalkedaboutborrowingandspendingandhowtheeconomycantgrowifnooneisspendingmoney。

Lookingatthequestionlikethatgetsthewholecauseandeffectthewrongwayround。

Itisthroughworkthatwegeneratewealth…whatweneedinthiscountrytodayisanentrepreneurialspirit,withwhichtofindwhatothersarewillingtopayforandthensupplyit。

Thisistheformulaforeconomicsuccessatanationallevel,andalsotheformulaforsuccessatabusinesslevel。

●Ofcourse,bankerbashingisaprettypopularpastimeatthemoment。

Theyrerightuptherewithunscrupulousjournalistsasthepantomimebaddiesofourtimes。

IfyouwantamoredetailedunderstandingofhowthemodernbankingsystemworksyoushouldwatchmycolleagueTimBennettslatestvideotutorialHowbankerscreatecredit。

EveryweekTimtacklesacomplexpartoffinanceandexplainsitinshort,verywatchablevideos。

Hisvideoshavebeenabigsuccesssofarsoifyouhaventwatchedoneyet,watchthemhere。

Tohearaboutotherbitsandpiecesontheinternetthathaveamusedusormadeusthink,signupforourTwitterfeeds–wevelistedthembelow。

Haveagreatweekend!



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MerrynSomersetWebb?

JohnStepek?

TimBennett?

JamesMcKeigue?

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