Home › Forums › Financial Markets/Economics › European nations begin seizing private pensions
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CA renter.
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May 12, 2011 at 9:09 AM #696011May 12, 2011 at 12:39 PM #694863
briansd1
Guest[quote=Rich Toscano] There is no chance that things will be better 20 years from now because people’s 401ks were propped up today. Long-term prosperity is based on productivity growth, and the stuff of this bailout (unsound money, massive debt accrual and deficits, handouts to incompetent and semi-corrupt companies that should have gone bankrupt, etc etc)… that’s not good for productivity growth.[/quote]
Could you please elaborate on that?
Do you think that we are in for lost two decades like Japan?
May 12, 2011 at 12:39 PM #694950Guest[quote=Rich Toscano] There is no chance that things will be better 20 years from now because people’s 401ks were propped up today. Long-term prosperity is based on productivity growth, and the stuff of this bailout (unsound money, massive debt accrual and deficits, handouts to incompetent and semi-corrupt companies that should have gone bankrupt, etc etc)… that’s not good for productivity growth.[/quote]
Could you please elaborate on that?
Do you think that we are in for lost two decades like Japan?
May 12, 2011 at 12:39 PM #695553Guest[quote=Rich Toscano] There is no chance that things will be better 20 years from now because people’s 401ks were propped up today. Long-term prosperity is based on productivity growth, and the stuff of this bailout (unsound money, massive debt accrual and deficits, handouts to incompetent and semi-corrupt companies that should have gone bankrupt, etc etc)… that’s not good for productivity growth.[/quote]
Could you please elaborate on that?
Do you think that we are in for lost two decades like Japan?
May 12, 2011 at 12:39 PM #695700Guest[quote=Rich Toscano] There is no chance that things will be better 20 years from now because people’s 401ks were propped up today. Long-term prosperity is based on productivity growth, and the stuff of this bailout (unsound money, massive debt accrual and deficits, handouts to incompetent and semi-corrupt companies that should have gone bankrupt, etc etc)… that’s not good for productivity growth.[/quote]
Could you please elaborate on that?
Do you think that we are in for lost two decades like Japan?
May 12, 2011 at 12:39 PM #696055Guest[quote=Rich Toscano] There is no chance that things will be better 20 years from now because people’s 401ks were propped up today. Long-term prosperity is based on productivity growth, and the stuff of this bailout (unsound money, massive debt accrual and deficits, handouts to incompetent and semi-corrupt companies that should have gone bankrupt, etc etc)… that’s not good for productivity growth.[/quote]
Could you please elaborate on that?
Do you think that we are in for lost two decades like Japan?
May 12, 2011 at 12:39 PM #694858Guest[quote=CA renter]
This explains why your perspective is different from many of ours, brian. Since you are childless, you tend not to worry about what happens after you die. For the rest of us, it matters greatly.Just an interesting observation that helps explain why you think all the intervention “saved” us. It didn’t, and perhaps you know that, but you (and/or your children — since you don’t have any) don’t plan on being around to suffer the consequences, apparently.
Better start eating more junk food. ;)[/quote]
I actually was not referring to myself, but to people in their 50s, at the peak earning years. Generally people die in the 70s to early 80s.
They don’t have enough time to recover from a collapse in the value of their assets or from layoffs. Those folks are becoming empty-nesters and need to start downsizing and making plans for retirement. They should be thankful the government saved the economy.
BTW, government action is necessary not just economically but for social harmony as well. Imagine the social unrest if unemployment hits 20% or above.
May 12, 2011 at 12:39 PM #694945Guest[quote=CA renter]
This explains why your perspective is different from many of ours, brian. Since you are childless, you tend not to worry about what happens after you die. For the rest of us, it matters greatly.Just an interesting observation that helps explain why you think all the intervention “saved” us. It didn’t, and perhaps you know that, but you (and/or your children — since you don’t have any) don’t plan on being around to suffer the consequences, apparently.
Better start eating more junk food. ;)[/quote]
I actually was not referring to myself, but to people in their 50s, at the peak earning years. Generally people die in the 70s to early 80s.
They don’t have enough time to recover from a collapse in the value of their assets or from layoffs. Those folks are becoming empty-nesters and need to start downsizing and making plans for retirement. They should be thankful the government saved the economy.
BTW, government action is necessary not just economically but for social harmony as well. Imagine the social unrest if unemployment hits 20% or above.
May 12, 2011 at 12:39 PM #695548Guest[quote=CA renter]
This explains why your perspective is different from many of ours, brian. Since you are childless, you tend not to worry about what happens after you die. For the rest of us, it matters greatly.Just an interesting observation that helps explain why you think all the intervention “saved” us. It didn’t, and perhaps you know that, but you (and/or your children — since you don’t have any) don’t plan on being around to suffer the consequences, apparently.
Better start eating more junk food. ;)[/quote]
I actually was not referring to myself, but to people in their 50s, at the peak earning years. Generally people die in the 70s to early 80s.
They don’t have enough time to recover from a collapse in the value of their assets or from layoffs. Those folks are becoming empty-nesters and need to start downsizing and making plans for retirement. They should be thankful the government saved the economy.
BTW, government action is necessary not just economically but for social harmony as well. Imagine the social unrest if unemployment hits 20% or above.
May 12, 2011 at 12:39 PM #695695Guest[quote=CA renter]
This explains why your perspective is different from many of ours, brian. Since you are childless, you tend not to worry about what happens after you die. For the rest of us, it matters greatly.Just an interesting observation that helps explain why you think all the intervention “saved” us. It didn’t, and perhaps you know that, but you (and/or your children — since you don’t have any) don’t plan on being around to suffer the consequences, apparently.
Better start eating more junk food. ;)[/quote]
I actually was not referring to myself, but to people in their 50s, at the peak earning years. Generally people die in the 70s to early 80s.
They don’t have enough time to recover from a collapse in the value of their assets or from layoffs. Those folks are becoming empty-nesters and need to start downsizing and making plans for retirement. They should be thankful the government saved the economy.
BTW, government action is necessary not just economically but for social harmony as well. Imagine the social unrest if unemployment hits 20% or above.
May 12, 2011 at 12:39 PM #696050Guest[quote=CA renter]
This explains why your perspective is different from many of ours, brian. Since you are childless, you tend not to worry about what happens after you die. For the rest of us, it matters greatly.Just an interesting observation that helps explain why you think all the intervention “saved” us. It didn’t, and perhaps you know that, but you (and/or your children — since you don’t have any) don’t plan on being around to suffer the consequences, apparently.
Better start eating more junk food. ;)[/quote]
I actually was not referring to myself, but to people in their 50s, at the peak earning years. Generally people die in the 70s to early 80s.
They don’t have enough time to recover from a collapse in the value of their assets or from layoffs. Those folks are becoming empty-nesters and need to start downsizing and making plans for retirement. They should be thankful the government saved the economy.
BTW, government action is necessary not just economically but for social harmony as well. Imagine the social unrest if unemployment hits 20% or above.
May 12, 2011 at 4:41 PM #694978CA renter
Participant[quote=Rich Toscano][quote=CA renter][quote=briansd1][quote=Rich Toscano][quote=briansd1]How about when the government bails out private pensions?
Don’t you think that the value of the your 401k has been help up by Federal action?[/quote]
In the short term, yes.
In the long term (the timeline that matters), absolutely not.[/quote]
It depends what your timeline is. If you only have 20 to 30 to live, I think that you should be glad that the government didn’t let the system collapse in 2008.[/quote]
This explains why your perspective is different from many of ours, brian. Since you are childless…[/quote]
That’s not even in the issue, in my opinion. There is no chance that things will be better 20 years from now because people’s 401ks were propped up today. Long-term prosperity is based on productivity growth, and the stuff of this bailout (unsound money, massive debt accrual and deficits, handouts to incompetent and semi-corrupt companies that should have gone bankrupt, etc etc)… that’s not good for productivity growth.[/quote]
Could not agree more.
May 12, 2011 at 4:41 PM #695065Participant[quote=Rich Toscano][quote=CA renter][quote=briansd1][quote=Rich Toscano][quote=briansd1]How about when the government bails out private pensions?
Don’t you think that the value of the your 401k has been help up by Federal action?[/quote]
In the short term, yes.
In the long term (the timeline that matters), absolutely not.[/quote]
It depends what your timeline is. If you only have 20 to 30 to live, I think that you should be glad that the government didn’t let the system collapse in 2008.[/quote]
This explains why your perspective is different from many of ours, brian. Since you are childless…[/quote]
That’s not even in the issue, in my opinion. There is no chance that things will be better 20 years from now because people’s 401ks were propped up today. Long-term prosperity is based on productivity growth, and the stuff of this bailout (unsound money, massive debt accrual and deficits, handouts to incompetent and semi-corrupt companies that should have gone bankrupt, etc etc)… that’s not good for productivity growth.[/quote]
Could not agree more.
May 12, 2011 at 4:41 PM #695668Participant[quote=Rich Toscano][quote=CA renter][quote=briansd1][quote=Rich Toscano][quote=briansd1]How about when the government bails out private pensions?
Don’t you think that the value of the your 401k has been help up by Federal action?[/quote]
In the short term, yes.
In the long term (the timeline that matters), absolutely not.[/quote]
It depends what your timeline is. If you only have 20 to 30 to live, I think that you should be glad that the government didn’t let the system collapse in 2008.[/quote]
This explains why your perspective is different from many of ours, brian. Since you are childless…[/quote]
That’s not even in the issue, in my opinion. There is no chance that things will be better 20 years from now because people’s 401ks were propped up today. Long-term prosperity is based on productivity growth, and the stuff of this bailout (unsound money, massive debt accrual and deficits, handouts to incompetent and semi-corrupt companies that should have gone bankrupt, etc etc)… that’s not good for productivity growth.[/quote]
Could not agree more.
May 12, 2011 at 4:41 PM #695817Participant[quote=Rich Toscano][quote=CA renter][quote=briansd1][quote=Rich Toscano][quote=briansd1]How about when the government bails out private pensions?
Don’t you think that the value of the your 401k has been help up by Federal action?[/quote]
In the short term, yes.
In the long term (the timeline that matters), absolutely not.[/quote]
It depends what your timeline is. If you only have 20 to 30 to live, I think that you should be glad that the government didn’t let the system collapse in 2008.[/quote]
This explains why your perspective is different from many of ours, brian. Since you are childless…[/quote]
That’s not even in the issue, in my opinion. There is no chance that things will be better 20 years from now because people’s 401ks were propped up today. Long-term prosperity is based on productivity growth, and the stuff of this bailout (unsound money, massive debt accrual and deficits, handouts to incompetent and semi-corrupt companies that should have gone bankrupt, etc etc)… that’s not good for productivity growth.[/quote]
Could not agree more.
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