Oh no all of those boomers who brag about having paid off their homes who will still get 30 to 50 grand a year between their retirements and completely ignored a V shaped recovery in the stock market, which is now up nearly fucking 80% in the DJIA from the depths of the crash, are going to feel it in their inability to buy a bigger boat.
Poor boomers. All their chickens are coming home to roost. The ones with the retirement accounts amuse me the most. I believe the government will confiscate those accounts and put everyone on social security - no more pensions. Or the whole system falls apart first and the value goes to zero.
The Canadian finance minister referred to these private savings as a "pre-loaded market stimulus" that they were working to unlock.
Despite the fact that I try to push for unity in general as opposed to division, I can't help but see that they've gone along with their own demise, often at the expense of everyone else. I basically view that generation the same way I do modern women, "You made your bed, now lay in it."
There are exceptions to every rule, and on principle I take each individual I meet on a case by case basis, but generally speaking their generation...apparently...thought kicking the can down the road was an acceptable option, again, usually at the expense of those younger than them.
I recall my own father, who overall I have a lot of respect for, a man who just consistently put in his hours and lived well within his means and is now a debt free home owner, as an example of the above. He was a state employee with a, frankly, ridiculous retirement package. Our state is about to economically collapse, and there was a ballot initiative about being able to make cuts to state employee's retirement packages. He took me aside to make sure I understood why I shouldn't vote for that. I just remember thinking, "But if you don't, eventually you'll have nothing. You're smart...how do you not get this concept."
Well, several years later and here we are. At the end game, it would seem. It's like, as a generation, the concept of having to sacrifice now for future gain just wasn't a concept they were ever forced to grasp. Name one socio-economic problem over the past 60 years that's actually been solved. I've heard constant bitching, but no results, and now, it should come as no surprise, everything fucking sucks...despite all the spent energy yelling at each other...nothing actually got fixed. It was a manipulated situation that no individual person is responsible for, but AT LEAST admit the reality of it so we can, hopefully, start to pick up the pieces and make something out of it.
It seems pretty retarded build up a lifetime savings but leave Congress and the fed free to print your retirement into worthlessness. You would think a constitution would include provisions that limit the creation of legal tender.
Just wait for NIRP.
NIRP? I'm guessing...Non-Indexed Retirement Pensions, aka LOL@Boomers?
WE ALL GOWNA DIE!!
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