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The Retirement Nightmare: Half of Americans Have Less Than $2,000 Banked for Their Golden Years

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posted on Jul, 23 2010 @ 10:47 AM
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Isn't this the type of America that conservatives and republicans have been fighting so hard to create?

Minimum wage jobs, no workers rights (because unions are evil), a free market where commodities like food and oil can be driven up 300% by wallstreet, free trade -- so mexico/brazil/china can compete with American labor power, tax breaks on the rich -- because they're the 'job creators,' -- yea, if you're a butler or yacht manufacturer you'll have job security. Small government that can't, for example, stop an oil leak -- instead it has to rely on the people who caused the leak in the first place. No social programs, like water treatment, electricity, roads, etc -- lets give all that stuff to private businesses and we'll pay them instead of a collective small tax to make all this stuff public assets.


I don't see how anybody could be complaining about this -- this is the America that the "silent majority" has been building for years. Now they're going to finally see the fruits of their labor. What's the problem?




posted on Jul, 23 2010 @ 10:57 AM
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Not shocked by this at all. I'm sure there are more "logical" reasons and explanations for all this, but to me it sure seems there are forces doing some systematic work to make this very thing happen.

First they stripped and stole pensions from people who worked 20-24 under a contract that provided such. People were told to provide for themselves with 401Ks.

Then, when 401Ks had enough money in them to be viable, they attacked those as well. People started realizing that the only place they had any savings or equity was in their homes.

Then they attacked the home values, and people lost further there. Attempts to protect homes are further blocked by banks now saying that if you have ANY savings at all...in an account or a 401K, you are not eligible for certain programs designed to assist people who got into a bad situation.

And the icing on the cake will be when social security goes away for these same people...mostly in the baby boomer generation...and mostly those who supported social security single-handedly for the past 35 years or so.

I believe there was a lot of behind-the-scenes manipulation and maneuvering by both the corporations and the government, often in collusion, to make this happen.

We are in for a world of hurt.





[edit on 7/23/2010 by ~Lucidity]



posted on Jul, 23 2010 @ 11:04 AM
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reply to post by ~Lucidity
 


You bet they're coming after that social security. For now, even the tea party people seem to be in favor of keeping it -- but they'll FIND A WAY to steal it from them.

If not outright, then through some scam program. It will happen, just you wait. Maybe a new "structured product" will be introduced by Goldman Sachs or Bank of America, promising monetary security in exchange for your social security payments -- and then it will collapse, leaving you with a fraction of your original social security wealth.


It will happen, just wait. And the beauty will be that the old folks will GIVE their money to these people -- they wont even need legislative changes in order to steal it. They'll find a way, just you wait.



posted on Jul, 23 2010 @ 11:33 AM
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reply to post by Kaytagg
 

Yep. It might be wrong of me to assume this, but there seems to be a particular subset of people being targeted and most affected by all this. Average working people around my age, typically thought of as the baby boomer generation. Generations before us will still be ok...they for the most part (not all but most) were set and settled...they took some lumps, but will probably live out their remaining years cared for by themselves and by the plans they were provided with, provided themselves, and took advantage of.

Generations after the baby boomers came into it with a new set of facts and paradigms and while it's not going to be easy for them, at least they were aware of things coming into it and can try to avoid the lies and pitfalls.

Maybe we just got caught in a bad situation...wrong place, wrong time, wrong demographic, or maybe we were just too gullible. In any case, there is probably correlation between the mere size of the generation and what's happening.



posted on Jul, 23 2010 @ 11:47 AM
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reply to post by MarkusMaximus
 


Well, this is why I have never liked the idea of someone taking my pension money, and playing the stock market with it. To me, if that is the case, just give me the money, and I will take it and go gambling myself at a casino. Over the last two years, how well has the retirement funds been doing in the stock market? I`ve watched many 401k`s hit bottom after looking so good. Well, at least if that money was in a savings account, it would have drawn a little interest over that time, and not hit bottom.

To me, the whole 401k program was nothing more than Wall Street wanting to get a hold of your money, so they could play with it. And to me, they failed, and failed big time, those who will need that money to retire on. This is one reason why I have no sympathy for Wall Street or stock brokers at all. To me, they are nothing but licensed gamblers playing with your future. Do they care if you win, no, they have other fish to fry.



posted on Jul, 23 2010 @ 12:35 PM
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Don't blame the people.

The TPTB engineered it that way.

There is more than enough abundance for everyone to have basic necessities.

Its not laziness its distraction.



posted on Jul, 23 2010 @ 01:31 PM
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Originally posted by ISHAMAGI
Don't blame the people.

The TPTB engineered it that way.

There is more than enough abundance for everyone to have basic necessities.

Its not laziness its distraction.


But isn`t it people who place others in those spots? Aren`t those people who play with other peoples money smart enough to know right from wrong, and know that it could ruin someone if it goes bad? Sure, TPTB may have created it, but, what happened to the common sense of those who want you or I to give them our money to play with like that? Like I said, do they care? No, there are others out there to bilk and make money from.



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