First, an observation from personal experience-
I reside in an area that at one time had a thriving industry where even folks without a High School diploma could go to work and make a decent salary. And many of my neighbors did just that-
They left school and went to work. So by definition we could call them short-sighted, couldn't we?
For them, this behavior trait showed up in lifestyle decisions too-
Looking out at my retirement years, I was denying myself some of the finer things in life by stashing as much as I could in my IRA and 401K plans.
Not these folks! Immediate gratification was the name of the game...
Big new truck.
Big new car.
A Harley-Davidson motorcycle of some sort.
Big Bass boat.
An RV of 30' length.
And of course a nice home.
All this "living" left no money at all for the future.
But then the economy changed, and because of environmental policy their industry was considered by the public to be "toxic". Their employers shuttered and closed, leaving these non-skilled laborers with no future, and no education to offer.
For months the newspapers were filled with motorcycles, bass boats, RVs, for sale.
Then it was 4X4 trucks.
Then it was the Cadillac or Lincoln.
Then it was the house.
Some of these folks are friends, so it has been painful to watch. But still, why didn't they learn some of the same things I learned from fables told when we were young?
So as an "ant" I've watched "grasshoppers" with interest all my life, feeling fairly secure that I was doing the right thing, living below my means and saving for the future.
Now I'm hearing rumblings that scare me to death. Granted, this is just talk now, I suppose thrown out there to see how we ants will react.
Think it's just "right-wing nutjobs" overreacting?
Take a look here and here.
If it's a reaction they're looking for, my reaction is this:
Right now I can only imagine two things that would make me take up arms against my government and some of my fellow citizens-
Restricting 2nd Amendment rights, and stealing funds I have suffered my entire life to put away.
Once again folks, here's the deal-
Sit quietly, and these Socialists will steal your stuff.
(They already stole GM/Chrysler bondholder's stuff!)
Be alert. Let your elected representatives know you're mad as hell, and you're not gonna take it anymore!
UPDATE, or I should just say MUCH MORE on this subject, (with some great comments), here.
I see the change. Now where is the hope?
4 comments:
2008 also saw changes to the pension laws for lump sum pensions. If the pension fund was not funded at leasst 80%, companies could no longer pay out the lump sum, the retiree could only get half and then take payments.
That was the reason my husband retired last year. We took the lump sum and the 401k out and invested in his IRA.
I suppose they'll be after our private IRA's next.
Too many folks have too much access to information and too much sweat equity accumulated over the years to let these clowns pull this off. As the dog said after he ate the peach pit, "This too shall pass..."
But each of us must do our parts.
I have been hearing rumbilings of this for some time now. Here me and my wife live well below our means, live on less than we make, stick as much in our 401 K's as we can. I have never bought a new car, we drive nice paid off used cars and take care of them. Live in a 42 year old house that is half the size we could own. Pay extra on our house and our 2 rentals BECAUSE WE DON'T WANT TO DEPEND ON THE GOVERNMENT TO TAKE CARE OF US WHEN WE CAN'T ANYMORE. and now these obama lazy scumbags want to steal our money and give it to the people who have never lifted a finger to help themselves? GB I am ready to take up arms along side of you brother!
And the "professional investment managers" will be the same ones who invested in sub-prime mortgages. But at least they will get their bonuses.
Post a Comment