posted on Oct, 7 2008 @ 02:53 PM
I've been thinking of 'retirement' as a 20th-century concept, obsolete in the 'new era', for a couple of years now. The writing has been on the
'Pension'? What's that? I would venture that most under-40 workers, with the exception of those working for the government, have never heard of
an offer of 'pensions' from employers. If you're 'lucky', you get to buy into a corporate-sponsored 401K scheme.
Several times, in the last few days, I've been reminded of when I was railing against the 'Social Security Private Investment' plan a few years
ago. I thought, at the time, it was in fact, more a government-sponsored insurance policy for Wall Street, to link public well-being to the necessity
for a massive bailout, should one be necessary. Trimming the tail of concentrated chaos off a derivative unwind, so to speak.
I now think that was the plan, all along. Imagine the panic there would be right now if the Social Security 'Trust Fund' were currently
heavily booked into Wall Street, sharing the slide. Yikes.