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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (212732)	12/6/2004 7:06:20 AM
From: Road Walker	Respond to of 1573602

CJ, re: I personally know people who were ready to retire in 2001, but the market down turn meant they are still working. Tell me about it, I've been "retired" twice. <But the real reason I work is that I like it... when I get a chance to build a new business, I can't resist>. re: I've been paying into SS for 30 years, some years more than others. If my payments only went to support my grandparents and parents(and others of their age group) after they retired, that's ok. If there is something for me, so much the better. But I am not going to depend on it. I can't. You can depend on it to survive, but not to live a great retirement. Nobody that is living totally on SS right now is living in luxury. They struggle to just get by. re: For those of my age group who haven't been able to save anything, they've got a problem. The latest numbers for the US savings rate was 0.02%, an all time low I think. I saw an article that said for a person earning $100K that's 50 cents a day. Abysmal. The effect is that the government will have to provide for those people when they retire. The other effect is that our government and businesses must borrow from the more frugal people and governments overseas. Thus the huge current accounts deficit and the upcoming spike in interest rates. The "Goldilocks Economy" party is over (IMHO)... Bush has put the last nail in the coffin. We're in for a real recession, not the slight downturn we experienced over the last four years. We're living on borrowed time. John