Monday, November 14, 2011

Is economic recovery really happening?

This is a time when all the chickens are coming home to roost, with the baby boom generation coming into retirement ( i am part of it I will turn 62 this year) your s.s. is about to be turned upside down. this is the major player in this whole era. there is no money to pay it. The goverment will have to steal from everywhere they can to make these payments. At the same time when these people retire they will be dumping their 401's depressing the market. Also your goverment workers want their retirement, even though most states have not funded their retirement funds adequetly, unlike private pensions where judges through out retirement claims against bankrupt companies, i have not heard of one judge saying to goverment agencies that they can put aside their retirement liabilities. as a matter of fact i heard just the other day that the federal goverment wants 2 trillion dollars to fix goverment pensions. so be prepared for more bad news.

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