I hate to admit it, but I am a thief.
It is worth reading if you have the time.
Stanley is no lightweight, and I am a puny match for his skill and intellect.
Still, I cannot agree with his premise.
The focus on Seniors as the problem for our future is like saying babies are the reason we are in this mess.
Half full or half empty?
“While everybody is focusing on the here and now, there’s a much, much bigger storm that’s about to hit,” Druckenmiller said in an hour-long interview with Stephanie Ruhle on Bloomberg Television’s Market Makers. “I am not against seniors. What I am against is current seniors stealing from future seniors.”
Druckenmiller said unsustainable spending will eventually result in a crisis worse than the financial meltdown of 2008, when $29 trillion was erased from global equity markets. What’s particularly troubling, he said, is that government expenditures related to programs for the elderly rocketed in the past two decades, even before the first baby boomers, those born in 1946, started turning 65.
The generation of the past contributed mightily to the standard of living our generation has enjoyed.
My Pop was one of those humble soldiers who came home early from “the big one” with injuries, and the result is I am two weeks ahead of that long line of thieves.
Kicking the can down the road, generational companies like GM, Lehman Brothers, and AIG all succumbed to debt problems. The government in it’s infinite wisdom, absorbed the losses and passed them on to taxpayers.
Pop worked for AIG.
I get it that we have a problem.
For years I have been saying that, while the Washington elite partied on. Free of any such worries, they have guaranteed income for life with their own separate retirement system.
Gimmee a break.
Repurchasing our debt and adding escalating interest payments to it is the latest in a long line of stupid decisions by politicians who have no clue how to balance a budget.
QE infinity has a limited shelf life.
Allowing five generations of Americans to collect welfare, while the system is gamed by politician’s buying votes has contributed to this problem. Seeing people purchase items in the local convenience store with food stamps, then climb into their Lexus has me a bit perturbed.
I may be wrong, but as a Real Estate Broker, I have seen the latest and biggest flat Screen TV’s in their homes.
I had a hope when I began this site to help educate people about financial responsibility.
Sadly, I feel myself being called a thief by the Drunken people of the world; intoxicated by their belief that my generation is the problem.
This truly has become No country for Old Men.
Social Networking, senior citizen style…
I’m a human being…
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