Greg’s Newsletter, Keeping the American Middle Class Informed, March 02, 2009

I am going to make a prediction that will probably cause some discourse with my readers. I have been seeing more and more articles on retirement funds coming up short and I believe that people, especially the baby boomers, may not have anything to support them in their retirement years. This article will give you an idea on what I am writing about.

http://www.chicagobusiness.com/cgi-bin/article.pl?articleId=31402

Think about the rhetoric you have been hearing over the last number of years. What are we going to do with the baby boomers when they retire? That was mainly directed discussions on the Social Security System but now it will not only be affecting that but now the corporate retirement funds.

Add these issues to the 401Ks going down the tubes, what are we going to do with our baby boomers? I got a feeling of what some people care about them when the bailouts of the auto industry was the hottest subject in the media. I was hearing that the auto industry needs to reduce and even eliminate their retirement funds to become solvent again. It was stated those people aren’t being productive for the company anymore so why should they receive any further compensation?

You add these issues to the government’s stand for the last number of years having to do something with the Social Security System, what is going to happen to our seniors? These are the people who maintained the prosperity which this country has experienced since the WWII generation handed the dynamic economy over to them when they retired. Now when the economy is in trouble, they are looking at reducing the support to these people who maintained this vibrant economy that was run into the ground by this current bunch of self serving banking and industry leaders. Where does it all stop?

This is my prediction; this country will get to a point economically that if you aren’t determined to be a productive asset to society there will be little support for you from government and industry. It will be up to each person to find their own way in their retirement years. If you think I am out there with this prediction, how many of you understand the current mind set in the workplace, “what have you done for me lately?”

I agree we all must make plans for retirement, but when every facet of the economy in the tank, where is the opportunity for the population, as a whole, going to invest that will guarantee comfortable retirement years?

Additionally, with the serious discussions by the G7, the G20, and central banks around the world to create a world financial governance, where will our national autonomy be and concern for our individual citizens?

Greg Goodwin

3/2/09

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