Morgan, just go and read the book "Wealth War and Wisdom" by Barton Biggs. He covers all bases of historical events when the SHTF whether you're wealthy or poor. ----------------------------- "Biggs is no paranoid survivalist. He was chief global strategist at Morgan Stanley before leaving in 2003 to form hedge fund Traxis Partners. He doesn't lock and load until the last page of this smart look at how World War II warped share prices, gutted wealth and remains a warning to investors. His message: Listen to markets, learn from history and prepare for the worst. ----------------- "The rich get complacent, assuming they will have time ``to extricate themselves and their wealth'' when trouble comes, Biggs says. The rich are mistaken, as the Holocaust proves.
Will baby boomers get their pension? ------------------- Let me ask you this. Will Welfare continue for the poor? Gov't checks? Of course it will. People in Section 8 housing and getting welfare checks. Free rent and free money to keep the poverty industry busy. If retirement pensions are middle class welfare, the pensions pay the property taxes, mortgages, auto repairs and new purchases. You think the gov't will end the pensions? This country would grind to a halt.
Fer chrissakes, don't sit around saying what will happen to me. YOU make things happen. Act not react. As you did post you sound like you're preparing. ------------------ I am 28 what will happen to me? -------- You're going to go out into the middle of it and get first hand news, not hunker down and wait for shid to happen. Not at 28, maybe when you're 50 or something you can hunker down. You're life's just begining. Ha 28 -must be fun.
To all the baby boomers that sat back and let the corporations ship jobs overseas, not pay taxes like corps should, rape the grunts on the production lines by taking their bennies and destroying the Unions with scab labor that get paid dog shit wages............ And least we not forget the tax policy for the fat rich crooks that stole the money from society in general. The baby boomers have no room to bitch, they made their own bed. If they get screwed, TOUGH SHIT!! I will agree though that some muni, state, gov workers were way out of line by assuming the property and local taxes could always be raised to support bennies that are not in line with other workers in general. They just thought the cow could always be milked for more and more...............housing prices are in a deflation of severe magnitude with no end in sight, so the cow is running dry.
If you're worried where to invest. Go buy an annuity from the RC church. The Pope's been around a long time and ain't heard about Moody's down grading the Vatican.
Pre tax dollars for 401ks will be the thing of the past here shortly. The possible NATIONALIZATION of the 401k may be the next move but not sure as that could spark the Revolution. Federal Employees who are retired are, BY LAW, guaranteed their retirement. That will not change. If your one of the many fools who have a 401k and have not cashed out to move the money, or continue to contribute to the 401k from your companies "choices" your fucked and a fool. Plenty of ways to create an retirement account outside any worthless 401k, that is un- touchable by the US GOV through a umbrella of a trust. It is all post tax dollars in contribution however but who cares. The 401k game is over. But most are to stupid to see the writing on the wall.
It is a good article. Thanks. Ha. SA takes potshots @ GS the "pillage people". Fughedabouttit, it's Congress.