Hi, I'm Ben Hazell. I used to blog here about the media, but now I work there I don't write here anymore.
I'm the Web Publishing Editor at - I find better ways to tell stories, developing tools, training and practice for journalists.

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The Blog

Rarely updated now, used during Journalism MA at the University of Sheffield.

I'm not an economist, but...

Tuesday, 21 October 2008
'iPod generation' most at risk from credit crunch as one in five has £10k debts

I'm not an economist and I don't know what I'm talking about.
But let me list the things that seem wrong about the study in this article:

"Dubbed the "iPod generation" as they are Insecure, Pressurised, Over-taxed and Debt-Ridden" - I'd hate to think they just tacked 'Insecure' on the front there to make it spell iPod. Where did it come from though? It has no basis in the article. Don't you love it when analyists try to get trendy, making nonsense of their points.

"Over half of those surveyed said they had debts of up to £10,000" - That'd be the student loans then, not just throwing money at shiney things. I believe we protested those at the time.

"Yet few know about the value of pensions and investments, which puts them at great risk as the economic boom of the past decade ends" - Um, pensions and investments? Arn't they the things that just crashed? Pretty glad I didn't waste my cash on them. Investing my money in tinned food and second hand gold.

"In addition, the study of 1,000 people found half of young adults rely on friends and family for advice on money rather than independent financial advisers." - This is a study by Independant financial advisors. And what excellent advice they've been giving out in the last decade.

"With the global credit crunch ransacking financial markets, this generation will struggle to pay off debts and find lenders prepared to finance house purchases" - Or... wait till houses become affordable again. It's not my generation that fucked up the world by calling home 'property'.

""A continuation of current trends would see ever-increasing distrust of government and financial institutions coupled with a lack of capability to do anything about it."


Rhoda Buchanan said...

Good post. The credit crunch is one thing that really can't be blamed on the youth of today. I think of myself as part of the ipod generation, but only in the sense that I own one and I like it.

And Ben, I tried to re-do my blog banner, but I did it in paint by accident and it went blurry. Would you like to fix it? :-)

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