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| Economy |
| The Secret Bank Bailout |
| 2011-12-03 |
| Posted by:tipper |
| #3 WSJ today I saw this and it doesn't look good to grow old: "Debt among Americans between the ages of 65 and 74 is growing faster than for any other age group, according to the Federal Reserve. As of 2007, the latest year for which figures are available, the median debt level of that age group was $40,130, up from $27,458 in 2004". I know many seniors help their children and grand children. With this economy and unemployment when the money runs out where do you go. I have helped two families in my household get back on their feet myself. Each stayed about a year. I didn't mind the grand kids. One I helped with divorce and bankruptcy. The other till he got a job and finally a home of his own. Not at the same time. Now that would have been difficult. Then I hope no other issues arise. Be prepared. Things are going to get more difficult. |
| Posted by: Dale 2011-12-03 23:33 |
| #2 They have already gotten into every savings, checking, 401k, offshore, and every other kind of account you can think of, including cookie jars and mattress, by devaluing your dollars. But that's ok since they did it to everybody, right? Now you are starting to get the idea of how much crap you will put up with before you'll complain. |
| Posted by: gorb 2011-12-03 22:53 |
| #1 Tipper I notice you follow this stuff. I do also. I'd like to add "Kaufman says “we’re absolutely,"positively, undeniably,"totally, 100 percent not prepared for another financial crisis.”I believe since May they have gotten into the government pension plans. One nasty trick will be to go after all other savings or pension plans. Each fix is so short lived. Things will slowdown for the holidays then if we are lucky after Christmas, maybe after New Years layoffs and other nasty events will likely occur. Obama will be on vacation and the Republicans will attack each other as will the media. Meanwhile the driver is not looking ahead distracted by all the commotion around him, if we even have a driver. |
| Posted by: Dale 2011-12-03 22:16 |