Especially for Those About to Retire … Or Thought They Were
Furthermore, financial security for the future, often referred as the “American Dream,” is increasingly out of reach for many millions. This is especially true for those approaching retirement—a goal that has been undermined, even destroyed, by the economic crash of 2007, which robbed so many of what small wealth they had. Over the long run, a major culprit has been the replacement of pensions by the grossly inadequate 401K model, which is forcing millions of Americans to keep on working, or find marginal jobs to help pay the bills as they age, or in some cases fall into poverty, living only on a meager Social Security stipend.
As Joshua Holland recently noted, this trend “has been an integral part of what Yale political scientist Jacob Hacker called the great risk-shift, in which the burden of paying for education, healthcare and retirement has increasingly shifted from corporations and the government onto the backs of individuals and families.”
Teresa Ghilarducci, a professor of economics at the New School for Social Research writes, “The specter of downward mobility in retirement is a looming reality for both middle- and higher-income workers. Almost half of middle-class workers, 49 percent, will be poor or near poor in retirement, living on a food budget of about $5 a day.” She adds, “Seventy-five percent of Americans nearing retirement age in 2010 had less than $30,000 in their retirement accounts.”
But the situation is far from great for recent college graduates, many of whom are being crushed under student loan debt, while facing a competitive and often exploitative job market, where all too often an unpaid internship is an essential way to advance in a career. This is the first generation since the Great Depression that will make less money and have fewer resources than their parents. Perhaps because of dealing with all the stress, this generation has a prescription pill epidemic on their hands, which may be leading to a significant increase in suicides in their demographic.
Comment: Victory is inevitable. Only my religion combines euthanasia with eternal hell to back-up. Also think of my other powerful predictions as regards the civil war in Syria, and the destabilization of Israel by the rapidly breeding Ultra-Orthodox.
HELL IS ETERNAL!!! HELL IS ETERNAL!!! HELL IS ETERNAL!!!