"Meet the new boss, same as the old boss." The Who
The "new boss" is the international bond market, you know, the folks that finance everything we take for granted... they are coming, and they are pissed...
Raising the Social Security retirement age to 70 is GOING TO HAPPEN - and then it will likely be raised to 72 or 73. The "new boss" demands it.
That is the equivalent of the end of Social Security, just in case anybody missed it... and it does not bode well for states like Florida and Arizona, to say the least.
The article mentions "paying more for Doctor visits and drugs". How quaint. What is really going to have to happen is that extending end of life illnesses will no longer be financed by the government's social programs. If you want an extra 6 months of life while so sick you can't enjoy a visit to the toilet, you are going to have to save and sacrifice during your working years and pay for it yourself. The "new boss" demands this, too.
Both of these things are going to happen, and worse, because of the political realities, TPTB won't do it to the people who deserve it - those NOW past 65 who are collecting FAR BEYOND their contributions. Nope, TPTB are going to jack the folks who paid the most, those born 1955 to 1970 or so. They don't have a choice, because "that's where the money is".
Social Security and Medicare will have the same names, but vastly different benefits and retirement ages. In other words, they will have for all intents and purposes defaulted on their promises.
This has to happen! (the "new boss" demands it) No point in a "we should do this, that, or the other thing", or "if only our scum bags were elected instead of their scum bags" debate. You need to provide for YOU. Self- reliance, self-provisioning, self-rescue, localism, Libertarianism... whatever you want to call it. You are in charge of your future. Nobody else.
People are not dumb. There might be "the insanity of crowds" but there is also some wisdom in crowds, too (for example, you can now buy MRE's, emergency heirloom seed collections, and other long term survival food at Costco.com!). You need a long term view and plan.
For those of you that are going to gnash your teeth about the military budget... fear not, they are going to get their's, too. So are the government workers and their outrageous pension benefits. The money simply does not exist to pay for it all.
Oh, and by the way... did I mention you can get survival rations at Costco now?
10 comments:
Greg,
Thanks for reminding me of Cosco. I have been doing last minute buys on storable food and forgot of them. Also,for those with a little extra energe at the end of the day try this:
family of four can survive at 1500 calories per person per day with these four essentials for 102 days; 100 lb beans at $ 1.00 per lb.,100 lb. whole corn at $ . 14 per lb., 100 lb. rice at $.40 per lb, and 100 lb. pasta $ 1.02 per lb. total of $ 256.00 for all most 3 1/2 months of basic food foods At BJs. times that by 4 and $ 1024 will feed four people for one year. Veggies not included.
peace
Haven't read the post but I will remind everyone .. the average age of retirement in the U.S. is 63, and half retire then cause they want to, and half retire then cause they have to. Human bodies fall apart, much earlier than we care to admit. You can raise the Social Security age to 95 if you want -- people are still going to hit a wall and not be able to work at some point. And they will demand benefits anyway, versus starving. Social Security by another name. Why are so many applying for benefits today at age 62 instead of waiting for 65-66-67-68? You lose 20-30% of your benefits if you apply early. Not something to do unless you're desperate.
International bond markets demand it? I don't think so. There is a bipartisan consensus to monetize the debt instead of making any painful cuts.
Bur:
No question many retire because they have to. That does not change the math. See my next very short post.
I haven't read THIS damn post yet! :)
Hey, hey! Government workers and their outrageous pension benefits ... now you are hitting below the belt! :) I'f I'm lucky, I'll get out in 2024 just before my retirement gets jacked.
LOL, Bur, you must be more optimistic then most if you think that by 2024 you will have a govt pension, or even any realistic chance of receiving such a thing.
My crystal ball says that life won't be recognizable by 2020, and nearly everything discussed today will be a surreal memory or an alice in wonderland like adventure.
Of course, if Nano-tech is perfected and can turn anything into Eggo's then maybe we will be OK? I'm sure some people believe Santa Claus will rescue the world in 2012 as well.
Most state budgets are in a free-fall as it is, and more "stimulus" to support the state budgets and the jobs and needed services associated with them, seem like to be greased if not in 2010, by 2011.
Basically won't the payments on the national debt, plus military spending, plus Medicare/medicaid basically eat up all the "income" of the fed soon? In a sense, it already has, since every year the government operates in the red, spending more than it takes in. Good thing they have the printing presses, er are able to have the fed type in "money" into computers for distribution.
After two decades of continuous Federal employment, watching how things REALLY happen (not based on paranoid, unfounded hopes that the world will end soon), I've gotten a Federal paycheck on time every two weeks for the last 21 years. I can't take that away from them. Give the government a LITTLE credit! :)
Bur,
I work for the government as well but just because you get paid on time doesn't say much. Almost everybody can do that.
I beg to differ but your point is noted. :) I suppose at any time things could change, but until I see something really happen, my life (and 2024 planned retirement to Puerto Rico) goes on. Hehe! I've planned for just about everything.
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