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Post by Maxf1ex on Sept 27, 2009 10:47:32 GMT -8
Social Security strained by early retirementsWhat happened? The recession hit and many older workers suddenly found themselves laid off with no place to turn but Social Security. Hum, looks as if the government cause recession is going to hurt the government (and people) more then they thought. And yes, I know some people do not think the government had a hand in the recession. Some people claim that greed of finance industry was a major player in the current recession. An yes, they can at times make bad loans. But in this case the loans made was at the command of the government. In part, loans made for business in areas (slums) which had a low or no rate of return. Loans made to people for homes in which the peoples past history showed trouble meeting there financial obligation. I would say live and learn, but a few of us here have seen this happen before. Just more on a local (state or city) level and not National. Soul City just being one seen on a local level, but under federal government control. en.wikipedia.org/wiki/Soul_City,_North_Carolina You would think the government would have learn from such a place (and planning) which took effect for Soul City would have taught them something. In that case, it would seem as if learning is beyond government. Sadly, it seems, the actions of the government is once again effecting the lives of the people who worked and help build American into what it is today. And it is the same people who will be hurt the most in the governments current plans.
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Post by msguide on Sept 27, 2009 13:30:49 GMT -8
Let me just say that I agree with you. Wholeheartedly.
For people who want to say the greed of the financial industry has hurt their standard of living, I would say that their own greed has hurt mine. Social Security was intended to be a supplement, not the whole ball of wax. I hear people ask for Senior Citizen discounts all the time and they get mad when they are told there isn't one. Sheesh, I'm the one working to pay the SS taxes so you can vacation in a luxury resort and you're asking me for a discount? Really?
Maybe if people had lived a little more prudently during their working life and had taken fewer risks with their money, they might have some to live on for retirement. The stock market is, by definition, a risk. If the investor cannot be subject to risk, then he should not invest in stock. In other words, by investing such a high percentage of their assets in the stock market, investors did not take into consideration that they stood to lose a lot of money. Bad choice on their part.
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Post by brad9883 on Sept 27, 2009 14:56:05 GMT -8
That's so Brave New World-ish.
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