http://theeconomiccollapseblog.com/archives/15-economic-statistics-that-just-keep-getting-worse Grim stuff indeed.
Some comments: #7: Despite ugly short-term, Social Security should benefit longterm as much more are retiring early than retiring later because of the recession. Depends a lot on how early these unexpected retirees are leaving as you lose 1% for every 2 months of early retirement. Also, without the early retirees the unemployment numbers would be even worse. http://www.suntimes.com/business/2578558,CST-NWS-socialsec09.article #14 And considering how small and medium sized banks cannot compete with megabanks, the longer the recession the bigger market share the megabanks are going to get. One of the reasons why megabanks aren't lending? Why do this to improve economy when you can sit back in your protective to big to fail bubble and wait for rest of the entire market to disentigrate and come to you. http://theeconomiccollapseblog.com/...greatest-banking-consolidation-in-u-s-history
Not so with the early retirees Eshlemon, the problem is the SS system cannot bear even that increased level of payouts of earned benefits, once the worker per retiree numbers plummet to less than 3 to 1, it won't matter the system will fail. As for the megabanks, the entire episode disgusts me, what SHOULD have happened is the regional banks moved upwards to fill the holes created by the megabanks, instead they used their paid political footmen to enrich themselves even more at the Taxpayer's teat.
AHH... MegaBanks... Say it with me... GREEEEEEED Funny how most Americans are still oblivious to the fact that Greed is destroying our country. They blame everything else but don't see the writting has been on the wall for years now, GREED is at an all-time high. Forget about was is best for AMERICA...as long as I get mine F it. Sort of like what happened with the housing bust, people blame mostly the homeowners. Sure, they had a part in signing the docs...but having a wife that conducted over 3,000 closings during those years I can tell you that the tactics by the BANKS, the MORTGAGE BROKERS, the LOAN OFFICERS, the REALTORS back then are what really sunk it all with GREED.
this sucks glad im not over extended. too many people spent more money then they had. too many crooks took more money then they deserved. the people of this country need to wake up and get their heads out of their asses. but what song is going to wake up that many sheep?
