Between 1971 and 1990 my IBM salary had increased to $63,600 (due to several job promotions and cost of living adjustments based on CPI by IBM). That’s the good news! When I retired in 1991 I received a reasonable pension ($28,880/yr.) from IBM, and a nice medical benefit (promised for life for both June and I, and paid in full by IBM). In 1993 the medical benefit was withdrawn by IBM, and replaced by a fixed annual limit for medical expense coverage from IBM. Neither the annual pension nor the fixed medical expense limit has been or will ever be adjusted for inflation, so my pension income is fixed and my buying power continually decreases because of inflation. I know a lot of people in very similar situations. Their pensions were reasonable to start with but have not kept up with inflation. These days in the Obama economy very few people outside of government have any pension at all. With low interest rates and a risky stock market environment this situation is unlikely to improve.
"I know a lot of people in very similar situations. Their pensions were reasonable to start with but have not kept up with inflation. These days in the Obama economy very few people outside of government have any pension at all. With low interest rates and a risky stock market environment this situation is unlikely to improve. " Seems that Mr. Steele is trying to tell us that this situation is deliberately engineered by the Deep State and that targeted inflation along with funding governments for wars with easy money, are among the primary and essential methods of its power, wealth and control. A tried and proven method, like the funding of Napoleon's war that ultmately bankrupted everybody, except the funders.