May you live in interesting times…..
Think the geezers will converge on Washington and kick their asses? Only be a 100 million or so living off of Social Security. Forget medicare. It’ll be toast.
Of course we’ll all have those little electric scooters to run down Pelosi. God I’d pay money to see that!
Retirement Crash For Years to Come
The Baby Boom officially begins crashing this year. Some Baby Boomers began retiring early, but the big retirement Crash begins now and will go on for many years.
This is a crashing demographic wave that is also a massive financial and economic crash. The peak income years of this large wave of Americans now suddenly and steadily drops for many years to come as more and more of them retire. Their disposable income and actual consumer spending will likely be far less than was expected a few years ago because of the massive drops in retirement savings and the soaring costs of health care which will demand far more frugal living than was true of their predecessor waves of retirees. This will be even greater as they suddenly realize that the Obama Central Plan for Medicare Cost Cuts will force them to pay far more of their own medical costs.
At the same time, this growing tsunami-crash of retirements will produce a soaring tsunami of government expenditures for Medicare/Medicaid, in spite of the cuts now in the works which are not remotely enough to cut the soaring overall costs of these vast programs.
And the growing wave of Baby Boom retirees will also produce soaring government expenditures for the vast Social Security payments, because the government has spent their “contributions” to the system and given the SS “Trust” non-negotiable bonds – IOU’s that now come due to pay the soaring costs for these retirees. The government will be forced to borrow trillions more to pay for these costs at the same time its revenues are sinking and it is borrowing trillions to pay for other costs from the Great Financial Crisis.
My Lunch With the CIA
Prepare for the Great Depression.
Posted by Economic Analyst at 1:23 PM
There aren’t any real men left willing to work REAL jobs. Just paper fake consumer economy jobs. Marketing assistants.
What a huge difference 80 years makes. In ’29 there were men in America. Now there are emasculated half-men.
Kind of like comparing John Wayne to Ben Afflect.
If a person from the 20s could appear here in an instant they would be unbalanced from the technology at first, then would ask ‘where are the men?’
January 6, 2010 1:36 PM
the geriatrics are coming said…
Great, baby boomers will suck us dry like the movie Mummy where life blood is sucked out of those guys by emophet or whatever his name was. One giant vaccum and us younger ones are paying into something that has no snowballs chance in hell of providing us even enough to buy asswipe with. Phucking elites have played us in so many ways, revolt is around the corner and peasants are in the making. TSHTF is sure to come this year or next at the latest. Time to store some food and ammo, don’t buy silver or gold as they are worthless in any scenario since they don’t taste good and nobody will want them.
January 6, 2010 2:06 PM
Emotep (or Emoteph)!!!! LOL!!!! Thanks for that, can’t stop laughing. The youth is so screwed.
Disagree about gold/silver, but totally agree about storing food. I can go about six months. Can forage also.
The more time passes the less credence I give to a SHTF scenario and believe instead that the elite will continue to do what they do so well. Just bleed us dry like a tic.
January 6, 2010 2:20 PM
If it is a SHTF very fast paced scenario they will do it via a false flag attack by the Mossad/CIA and blame it on Muslims, prob Iran. Then we will retaliate, and WWIII possibly begins. Think of all the profits for the war elite. Then they can kick back and enjoy the theatre of war they created.
It won’t take much to push us over a cliff. No nukes or anything so dramatic. Look how scared the sheep are over the 19 year old stooge.
A good FF will usher in martial law and the SHTF scenario. If that is what the elite want it is a cakewalk for them. They can determine the day of the fall that way.
There is no moral reasoning involved. Whatever scenario gains them the most power and enjoyment. The TIC or the CLUB.
January 6, 2010 2:27 PM
Great. This means that that baby boomers won’t retire and clear out of their jobs, allowing us to move up. Instead they’ll sit there, hogging jobs so they can pay for their giant houses.
January 6, 2010 3:30 PM
Since the baby boomers are retiring, I guess that means they will sell their 5 bedroom, 5 bath McMansions, and then buy downsized 5 bedroom, 5 bath coastal condos? After all they are going to have to spend their social security checks on something, until the checks stop arriving. Maybe this is what Chris Dodd is going to do.
January 6, 2010 4:50 PM
As a babyboomer on SS, I agree with 3:30pm, they need to move on to retirement and make room for the younger ones to earn a living. Also to 1:36 pm I say too, “where’s the men”…
January 6, 2010 4:52 PM
I’m 50 years old. When I was in my 20’s I guess I was a “real man”. I worked in a machine shop, making Sidewinder Missiles and other shit with no other function but to kill people.
Our all knowing government killed the manufacturing economy. Manufacturing jobs were exported to the Third World, where machinists were paid $2.00 a day. Now we have an economy based on consumption, as long as people buy shit they don’t really need and save nothing for the future, we’ll all be just fine. Now we’re in a one-way trip down the big Black Hole. I still believe in the Constitution and the Bill of Rights and a few of us old fuckers will defend it to death, just so you whining ass young adults can keep partying and buying video games.
January 6, 2010 5:45 PM
The Bill of Rights is 50% gone so we can fight the fake war on terror. One of the most important dictates of the Constitution that we will print our our money via the Treasury; well that’s gone. You can believe enforcement and comformity with the originals, but in reality they don’t exist anymore.
When any American’s home can be invaded without a warrant; when any American can be taken off into the dark and tortured, well an ex-bill of rights doesn’t mean much.
In Jordan Maxwell’s latest DVD The Next Dawn he ends it with a Red White and Blue Toilet. That is where America is going. No hope. No turning back. We are done. Now is the time to survive on a personal level and forget the nationality crap. American, Mexican, Cuban, I don’t give a damn. Division and false patriotism got us here.
January 7, 2010 2:22 AM
Both of these last 2 posts are spot on. We went from making steel to making laptops to making money now we have exported it all including our honor and morality.
Now we just consume – that’s it & we wonder why 35% of us are obese. Indeed now it’s time to look out for #1.
January 7, 2010 4:53 AM
many of the post(s) are correct, however, I am one of the baby boomers that firmally worked my tail offto reach the american dream. I worked in textiles for over 30 years, I watched the textile industry slowly deteriorate because we were told that we would have to compete on a “level playing field”, BS, the corporate elites wanted nothing more than to suck every penny out of this industry for themselves. I am not afraid to identify the companies, DUPONT, MONSANTO,MOHAWK, J.P. STEVENS and KOCH Industries, just to name a few. I could go on and on.
One thing we all must keep in mind, this has been going on since the Carter years and although I have no use for the present administration, this yoyo is making it worse.
If this jackass wants to bring prosperity back to this country (which I doubt) he had better advocate manufacturing back into this country and lower corporate tax rates to make it more attractive.
Unless something is done to change this soon, bet your bottom dollar (if you have one) we will be returning to an agricultural based society. because the family will need to farm just to survive.
One other thing, this present culture needs to understan one simple thing, not all Americans are cut out to be a Doctor, Lawyer, Nurse etc…
many folks were not all menat to be college graduates. Just recently, my neice and nephew stated that no one without a college degree should be in any management position. I let the know that I sent 3 children to college, made a good living for my family, bought and paid for a house and was able to put a few dollars away, I graduated from H.S. and became a mid level manager at Dupont. I had a very successful career until they saw fit to move our facilities to Singapore and Mexico.
January 7, 2010 6:29 AM
SPEAKING AS A COLLEGE DROP OUT…..,DEALING WITH COLLEGE GRADS WITH BS,BA,MASTERS, DOCTORATES,ETC. EVERYDAY IN BUSINESS, DEGREES ARE OVER RATED. THERE IS NOT CORRELATION BETWEEN FOLKS WITH COMMON SENSE AND THOSE WITH DEGREES. SOME OF THE MOST IDIOTIC, GENUINELY IGNORANT PEOPLE I HAVE EVER MET ARE HIGHLY EDUCATED IN THE AMERICAN UNIVERSITY SYSTEM…..
January 7, 2010 6:54 AM
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