Sunday, March 15, 2009
Pension Bombs Going Off
Just leave it all the the economists and bankers and everything will be OK. Millions of people worked all their life for a reasonable pension. Only to find out that they will get 50% (and counting) less. What to do? Get a second job when you're 58? Rely on your children? Or go with the flow and just accept? No car, eat pie, no holidays...
If you add all the money of pensions that disappeared, where did the money go? The US government total amount of bail-outs just passed US$ 8,5 Trillion (US$ 8.500,000,000,000).
(UPDATE: 11 Trillion: US$ 11,000.000,000,000) European and other pension funds will not be immune. Link
Have also a look at this great video "How The Markets Really Work". Educational and entertaining, with right at the end a disclosure on pensions:
Posted by Troy Ounce at 8:23:00 PM