Posted on 03/03/2009 5:39:58 AM PST by Red in Blue PA
If losing one’s job weren’t enough to worry about in this recession, for many Americans there’s the added angst of being able to afford one’s retirement.
CNBC.com Wall Street in Crisis --------------------------------------------------------------------------------
And that may help explain why the seemingly relentless declines in home and stock prices have ravaged consumer confidence.
The depth of that damage will be evident later this month when the Federal Reserve reports on household wealth in the fourth quarter, which will pick up where the third quarter left off. At $56 trillion, it was some 12 percent below what it was during its peak in the third quarter of 2007.
“We won't be rebuilding wealth so quickly,” says Christian Weller of the American Progress and the University of Massachusetts, who specializes in retirement income security.
Weller says the decline in wealth is the greatest on record.
(Excerpt) Read more at cnbc.com ...
Nevertheless, our generation refused and refused and refused to deal with SS and Medicare. Now we are about to reap the whirlwind.
Look. Allow me to explain to you how the communists have taken over from within. For the past 50 years they have bred a “voting class”. They are unemployable and bred to live on welfare government programs and freebies or to work for government. All they do for a living is vote for communist democrats. Now there are more of them than capitalists. Simple ain’t it.
(Comment excludes all fellow Freeper Boomers)
EAT IT, BOOMERS!!! Obama is what you wanted, and now you get what you deserve...
(Again, apologies to F-Boomers. Back to our normal programming...)
You know, there is a wonderful pallative for all the stress: realize that your life is short and commit yourself or re-commit yourself to God and His Kingdom first. Jesus will take care of you. I have no worries, even though our finances and house value has suffered just like almost everyone else’s. I place my trust in Jesus. It’s amazing how great you feel when you are at peace and trust in Him to provide.
We were given a system in which productive people and the states were in charge of things. And over the years we gave all the power to community activists, looters and parasites. Now we have a demogogue making war on the productive class.
DITTO!
The only problem is that my family and I - all of whom lived by the rules, took vacations only when we could afford them, bought houses and cars we could afford, etc - the only problem is that we also get what YOU deserve. And that's why we're pi***d.
(Again, apologies to Fellow Freeper Boomers. Back to normal programming...)
Under Obama, the only thing you should expect to get is means tested SS. The govt. is hungry like a wolf that has not eatten for weeks. They will expropriate if necessary for the common good and social justice, anything you "alledgedly own". Fact is, you don't really own it at all, you are just borrowing from the common pool of money.
How about the Fed Reserve not reporting household wealth. It will only give BHO ideas.
Thats my philosophy. I never trusted in govt. I am considered the working poor in this country (50,000 per yr or less with 3 kids, 2 still home). I have never been able to save a dime toward retirement yet. I have stayed home and raised my children, while my husband went out to work to provide. Our trust has always been, and will remain, in our Lord and Savior who so eloquently reminded us that not a sparrow or lily frets about what to eat or wear, and are they not well fed and clothed.
While saving and being a good steward is important, does that make those who cannot afford to do both while caring for a family and doing the hard work of training them up in the way they should go make us less worthy of retirement? What did folks do to retire prior to a 401K? Before SS? This is a “new” invention, not the time honored tradition of the young caring for the old. My grandmother died penniless, but I and my mother cared for her to her last day, at home. I will care for my parents until their dying day, even if it requires me to move in with them or them in with me. My children will do the same. Scripture reminds us not to grieve our parents, and not to despise them when they are old and cause us difficulties. We are to honor them all the days of our lives. We must remember what they sacrificed to care for us and raise us. The 401K is like sand, a false mirage. The sad part for so many boomers is, they fought for the right to kill their children and taught them that if it feels good do it, don’t worry about the consequences, and fufilling your needs/wants/desires are what matters. Now, look out, as these are the greedy, self centered, entitled folks who will now pick your nursing home..... Thank God FReepers raised theirs up properly.
I agree with everything you wrote except for the last sentence. There are obviously Freepers who have not done a good job raising children with biblical morality. Just a few weeks ago many here were condoning Bristol Palin’s still not marrying Levi, the father of the baby. If conservatives have children and raise them with liberal values then it’s no surprise we get an Obama and Pelosi and Reid running things.
The last sentence was intentionally left ambiguious. The FReepers who did do it, as well as those who didn’t, will know who they are, and what they have to look forward to....
“EAT IT, BOOMERS!!! Obama is what you wanted, and now you get what you deserve...”
HUH? It was generations Y and X that put Obama in the White House.
Obama got an astounding 66% of the 18-29 vote (the 18 to 29 group of boomers went 52% Nixon in 1972)
Obama got 52% of the 30 to 44 age group.
He didn’t win any thing past those groups.
So “EAT IT” with your pro Obama cronies.
you might want to invest in a good bus or van that you can park down by the river and live in. i have one, just in case i cannot afford the taxes or utilities on my non-mortgaged home when my social security and military retirement checks quit coming.
throw the PORKSUCKERS out!!!
Seventy-six million American children were born between 1946 and 1960 (according to Wikipedia)
How many of those were on the US Supreme Court in 1973?
How many of those were in the White House or in the US Senate or House.
Eighteen year old’s didn't get the vote until 1971. Abortion was legal in a variety of states way before 1973. Nationally, no one got to Vote on the issue, a split decision by a few of way older than boomer justices made that call.
Boomers could more accurately be described as the “lab rat” generation, every weird and wacky and seldom wonderful invention and system, philosophy and foolishness was tried on them. Dr. Spock to smoking cannabis, new education techniques to factory built “muscle cars”. Boomers even were the generation that tested the concept of “personal entertainment” like Ipods and the like but boomer teens had transistor radios and all you got was AM and only one earpiece and NO stereo.
Just like every generation it took the previous generation's attempt at making money by selling products and trying to get in or stay in power through the “youth vote” that’s what sways the culture.
Boomers were just a huge group of “skulls full of mush” , and sadly some still are.
I would guess that a whole lot of the 76 million were conservative then and are still conservative now.
I think the final weird and wacky system that will be used on boomers will be forced euthanasia. Too many of those oldsters clogging up the health care system. Plus many of the following generations blames them for everything anyway.
Born in the USA, 1949. Peace, love. ARMY after college in 1971 and if I’m not gone on my own by 2029 a needle is waiting. Think any post boomers will be picketing the euthanasia clinics?
“The sad part for so many boomers is, they fought for the right to kill their children and taught them that if it feels good do it, don’t worry about the consequences”
Abortion was already legal in several states in the sixties and Roe v Wade was imposed by the Supreme Court in 1974, boomers had nothing to do with any of it, they wouldn’t even all make their first presidential vote until 1984.
In 1969 at the end of the sixties the oldest boomer alive was 23, Sarah Palin was only 5, Obama was 8, boomers did not have any power until decades later.
Nancy Pelosi and Harry Reid are not boomers, they are the same generation as John McCain and Bob Dylan and Jimi Hendrix and Ted Kennedy, the “silent generation of 1925 to 1945.
You are correct. They were not the driving force behind abortion, only the abortion revolution being accepted widely. The abortion movement came into play when Margaret Sanger saw the handwriting on the wall about civil rights for blacks and decided to take matters into her own hands with eugenics in the black community. The “silent” generation were only silent because the minority that were devotees of communisim would have been rounded up and disposed of. The convergence of the 2 ideologies and their silent plotting in secret brought us to the abortion/contraception/pacifist mentality that was embraced by the boomers and promoted fiercely. It was normalized, adopted by the Democratic wing of govt and here we are. If you did your job as a Christian parent, you’ve got less to worry about. Boomers are, by and large, right to be worried. I have seen their offspring, and they are in trouble if they have no money to dangle in front of their children..........
We need to get over the idea that retirement is something boomers will have. Retirement is leftover from the former America where freedom was legal. People who are now retired must face the fact that their voting practices cost us (and likely our children and grandchildren) our retirement.
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