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Re: Obama Fails to Stem Middle-Class Slide He Blamed on Bush...

By: Decomposed in FFFT | Recommend this post (0)
Wed, 02 May 12 10:36 PM | 59 view(s)
Boardmark this board | Food For Further Thought 		Msg. 41405 of 65535
(This msg. is a reply to 41346 by oldCADuser)
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re: "So if being able to look forward to at least a decent life when I finally retire is being "filthy rich", well so be it."

Sorry for not getting back to you sooner on this.

In all sincerity, I congratulate you on having done well in life. Unlike many of your peers here, I think becoming "filthy rich" is to be applauded, not condemned, so long as you came about the money honestly - which, in your case, I have no doubt of.

With equal sincerity, I advise you that you don't have enough set aside. Not even close, unless you convert it into a form that isn't so likely to be debased in the years to come.

If you're an engineer, you've had enough math to understand what happens toward the conclusion of a Ponzi scheme. When government begins issuing significant quantities of new debt in order to pay interest due on existing debt, that conclusion is not very far away. That's where we are today.

If you convert a big piece of your nest egg into something the government isn't actively devouring, and do it SOON, you'll be fine. But if you don't do that, you will NOT retire. Not for keeps, that is.

Some time down the road, you'll know that I was right. As an engineer, you should be able to work the numbers even now. Right now, you can still save those retirement dreams. In ten years, maybe less, you won't be able to.




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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months

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The above is a reply to the following message:
Re: Obama Fails to Stem Middle-Class Slide He Blamed on Bush...
By: oldCADuser in FFFT
Wed, 02 May 12 12:24 AM 		Msg. 41346 of 65535

If only I WERE "filthy rich". That being said, I will admit that my wife and I are probably better prepared for my upcoming retirement than the vast majority of Americans are for theirs, but I attribute much of that to never being a day without a job since I was 15 years old with the only exception being a period of 9 months during my freshman year in engineering school. For the rest of my college time I worked in various jobs either in the dorms or for the School of Engineering as a lab technician and occasional instructor. As for my wife, except for about a year and half, 35 years or so ago, she has also been continuously employed from about age 15 up until she retired 5 years ago. And in all that time, the only government 'assistance' that we have gotten was my state scholarship, the wages paid by the university, my monthly allowance when I was an ROTC cadet, my military pay during my albeit short military service and the social security checks that my wife is currently collecting. Other than that, what we have has come from the work of our own hands. We have not inherited anything nor was anything handed to us that we had not already earned in one fashion or another. So if being able to look forward to at least a decent life when I finally retire is being "filthy rich", well so be it.

Now about your claims...

Really now, isn't is a bit disingenuous to somehow imply that Obama is responsible for that fact that...

"95% of net jobs lost during recession were middle-skilled jobs" 

...when the "recession" started well before Obama took office and the vast majority of those jobs were lost long before a single program or policy proposed by him was even in place?

And how many of these jobs have been lost as the result of radical austerity measures imposed by newly elected GOP governors who have been using the recession as an excuse to bust public employee unions, lay-off teachers, policemen, firefighters, etc?

As for not doing anything, employment levels are on the rise. Private sector jobs are being added each month and have been for better than 2 full years. Consumer sentiment is trending higher. Manufacturing indexes are climbing and the stock market is approaching levels not seen since well before the recession, some indexes reaching 6 and 7 year highs. So please explain how "...he hasn’t done anything...". And if you think that he had no control over many of those things, than how is that he's being blamed for all the rest of this stuff?

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