Replies

Of course the fact that the Chicken Littles have no crystal balls and have no clue never stops them for screaming about the "coming great crash". Funny thing, it always seem to be NEXT year that the "great crash" is coming. Then when it DOES NOT, they merely change the date. Maybe it is the ASSUMPTIONS of the Chicken Littles that is wrong instead of the DATE?

Then when it DOES NOT, they merely change the date. Maybe it is the ASSUMPTIONS of the Chicken Littles that is wrong instead of the DATE?

Good point. I'll point out that as a country, both Republicans and Democrats have gone on a spending spree the last few years, even more so than they normally have.

But we do have some signs that are a cause for concern. Healthcare costs are going up by double digits the last several years and you wonder how so many Baby Boomers are going to fare given the increase in healthcare costs. Second, I believe that the great temptation for politicians will be to mess with some sort of very high taxation on IRA and 401(k) dollars when they are pulled out of plans upon retirement.

Of course, many variables are regional/local in nature. For example, the school district south of where I live has a tax rate of ~$32.50 per $1,000 of assessed valuation. And that is for a district that had a budget that included funding for now Winter or Spring sports, no field trips, etc. Retirees find it hard to pay those sorts of tax bills.

Folks need to have a savings/investment plan and stick to it. Even something as little as $50 a month helps set something aside and also build the discipline to save.

The crash happens slowly and insidiously everyday; loss of civility, lack of financial literacy, a growing kleptocracy (I got mine, U R screwed), and the demise of our national will to do bad things to bad people. We fail to lock up rapists and pedophiles because its to expensive, we fail to protect the unborn because we might upset the nihilistic humanists, we half step against our enemies because dolts like Murtha and Kerry sit astride the MSM declared moral high ground. The crash is happening everyday.