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It has been a long thread, but I hope you have learned something. Seniors/savers are being forced to give up the interest on their savings and their savings (hundreds of billions of dollars each year) to support wasteful spending (government and individual) as well as a complete redistribution of wealth to the top 1%. Meanwhile Bernanke, who is basically causing worldwide economic distress with his wacky polices, remains befuddled as to why our economy is still sinking. Sometimes, a person has to look into the mirror.
the only thing to be learned is play the cards your dealt as best as you can and do whatever potentially gives you the greatest odds of playing out whether it does or not. at least you tried to do something rather than just complain or fail doing nothing..
the only thing to be learned is play the cards your dealt as best as you can and do whatever potentially gives you the greatest odds of playing out whether it does or not. at least you tried to do something rather than just complain or fail doing nothing..
Keep playing around with your savings. Let me know how it turns out. But I hope you have had your question answered.
the only thing to be learned is play the cards your dealt as best as you can and do whatever potentially gives you the greatest odds of playing out whether it does or not. at least you tried to do something rather than just complain or fail doing nothing..
You may have missed the most important point: given the hole we have dug for ourselves by way of poor government, there may (may) not be any hand that wins for the next 15-20 years except for the hand that a few SOBs at the top have dealt themselves.
You may have missed the most important point: given the hole we have dug for ourselves by way of poor government, there may (may) not be any hand that wins for the next 15-20 years except for the hand that a few SOBs at the top have dealt themselves.
Thanks for making the point clear. Bankrupting a country will only benefit the top few. It is exactly like the game of Monopoly. Maybe along the way to bankruptcy a few players might win a tiny bit, but ultimately it is a losing situation for practically everyone. Investment in growth is positive. Speculating on bankruptcy is a losing cause.
Just as an aside, I was just listening to Simpson and Bowles on CNBC. Both scoffed at the futility of Bernanke's money printing game. When two knoweldgable politicians representing different political parties can agree on something, hopefully people will listen.
Pretty much sums it up. COL is being hidden by substituting a lower standard of living (the basket that is being measured is not constant). The only thing to add is that as people spend less, out of fear or for lack of interest on savings, there is less demand and less jobs. As money flows (via loans or credits) to people who cannot pay back the debt and we get deeper and deeper into whole. Paying back debt by increasing debt is a rather strange concept.
Seems to me many of us retirees are just rearranging the same money, not so much making it.
I think most people get it. At the end, there are no winners because of the chaos that ensues. In Southern Europe right now there are riots and daily protests in almost all countries, a rise of neo-Fascism and Nazism (particularly in Greece but also in other countries), intolerable amount of poverty and unemployment, and no hope in sight anywhere. Meanwhile, emigration into Germany is reaching a fever pitch as people seek some way to survive. Surely there will be backlash.
It makes no sense to hope for a continuation of current policies which ultimately will lead to similar protests and problems. Already, there is the secession movement in the U.S. which is nothing more than a show of economic frustration among the American middle and lower class.
I believe that politicians are beginning to notice the level of social unrest that they are fermenting. The question is whether they will do what is necessary to get things on a reasonable path. It would mean a market crash caused by substantial cuts in wasteful spending, but once absorbed, the U.S. can get back on a real economic growth path that will replace the current witless path of growth by debt (the Bernanke solution) that is demolishing savings as well as the whole middle class. .
Seems to me many of us retirees are just rearranging the same money, not so much making it.
I agree. Most retirees are just trying to figure out a way to retain their principle that they are depending upon for their retirement and possibly get a small return so that they have something left in reserve. The answer is a political solution, but it has to be a smart solution. Simpson-Boles has an excellent solution but it was shot down by the large corporations and ultra-wealthy who thrive on government debt.
The middle class has to stop fighting among itself and join together in finding candidates that will work for the general interest.
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Thanks for making the point clear. Bankrupting a country will only benefit the top few. It is exactly like the game of Monopoly. Maybe along the way to bankruptcy a few players might win a tiny bit, but ultimately it is a losing situation for practically everyone. Investment in growth is positive. Speculating on bankruptcy is a losing cause.
