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View Diary: Americans' Retirements Are in Tatters. What Does That Mean? (129 comments)

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  •  Coupling the demographics (5+ / 0-)

    with a massive, endless recession is a recipe for social catastrophe.

    I was forced into "early retirement" by unemployment. I may soon have to sell my home at a loss. My "retirement" savings are dwindling. I am willing and able to work, but good luck finding a livable wage if you're over a certain age. There are many out there in exactly this situation.

    Our so-called government has done next to nothing to avoid disaster. Watch for seniors robbing banks and a flood of suicides. Thank the Village and both parties...

    Most truths are so naked that people feel sorry for them and cover them up, at least a little bit. --Edward R. Murrow

    by chuckvw on Sat Jun 22, 2013 at 12:22:57 PM PDT

    •  you've hit on the two obvious but overlooked (7+ / 0-)

      There are two main flaws in most of the Congress people's arguments:  

      (1) many people who want to or need to work beyond age 65 are not welcome in the job market; those who lose jobs at age 45 or after may not be able to locate another; and

      (2) many people who did save, acting responsibly, found that the two Bush depressions, in 2001 and in 2007-2008, saw huge chunks of their savings disappear, even though their savings were invested in conservative funds.  

      Yet Congress and the president seem not to recognize these facts and proclaim that, "of course, we must stop these massive handouts"  to all these lazy, careless people.  

      And, too, even those retirees who believe they are well situated may find everything gone if there is yet another depression and/or if they experience medical problems, when even the costs of "minor" infirmities can cost hundreds of thousands in hospital rooms, doctors' visits, operations and prescribed drugs.  Their savings and their homes may be lost in a moment.

      On the bright side, perhaps some corporate farms will be able to sell off extra acreage to the government, at a premium, so there will be enough "potters' fields" for all the senior citizens who cannot pay to live and cannot pay for a final resting place.

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