S & P Dire Warnings

[bobabode]

http://www.latimes.com/business/hilt...05-column.html

Growth and income inequality.

[MrPots]

The markets continue to piss me off. What's a guy with a 401K to do.....

Up...then down...up then down....

[Tom Joad]

Originally Posted by MrPots

The markets continue to piss me off. What's a guy with a 401K to do.....

Up...then down...up then down....

You should be OK Potter.

Not because of your 401 K, but because of Social Security.

The most I ever made while I was working was 55K a year and I draw $22,500 a year in Social Security. And I only have to pay $105 a month out of that for Medicare.

So if you and your wife did about the same as I did, you'll get about 45K a year combined from Social Security. That's enough for a frugal empty nester couple to live with some semblance of dignity as long as they stay away from high cost of living areas.

But make no mistake.

The Koch Brothers, who have enough wealth right now to pay yours and your wife's social security for the next 2.2 Million years, (http://www.bloomberg.com/news/2014-0...rs-to-ads.html) are not satisfied with that. They want more, and they have sent their hired guns, the Republicans, to take your Social Security away from you.

[bobabode]

Originally Posted by Tom Joad

You should be OK Potter.

Not because of your 401 K, but because of Social Security.

The most I ever made while I was working was 55K a year and I draw $22,500 a year in Social Security. And I only have to pay $105 a month out of that for Medicare.

So if you and your wife did about the same as I did, you'll get about 45K a year combined from Social Security. That's enough for a frugal empty nester couple to live with some semblance of dignity as long as they stay away from high cost of living areas.

But make no mistake.

The Koch Brothers, who have enough wealth right now to pay yours and your wife's social security for the next 2.2 Million years, (http://www.bloomberg.com/news/2014-0...rs-to-ads.html) are not satisfied with that. They want more, and they have sent their hired guns, the Republicans, to take your Social Security away from you.

Ayup. Modern day captains of industry like the Kochs have a black hole where their guts are. No amount of wealth or power can ever be enough for them.

[Tom Joad]

Originally Posted by bobabode

Ayup. Modern day captains of industry like the Kochs have a black hole where their guts are. No amount of wealth or power can ever be enough for them.

You stole that from "Tombstone" didn't you?

http://en.wikiquote.org/wiki/Tombstone

It's one of my many favorite scenes from that movie.

Wyatt Earp: What makes a man like Ringo, Doc? What makes him do the things he does?

Doc Holliday: A man like Ringo has a great empty hole through the middle of him. He can never kill enough, or steal enough, or inflict enough pain to ever fill it.

Wyatt Earp: What does he need?

Doc Holliday: Revenge.

Wyatt Earp: For what?

Doc Holliday: Being born.

[bobabode]

Originally Posted by Tom Joad

You stole that from "Tombstone" didn't you?

http://en.wikiquote.org/wiki/Tombstone

It's one of my many favorite scenes from that movie.

I'll never tell.

I do like some Doc Holliday, tho.

[MrPots]

Originally Posted by Tom Joad

You should be OK Potter.

Not because of your 401 K, but because of Social Security.

The most I ever made while I was working was 55K a year and I draw $22,500 a year in Social Security. And I only have to pay $105 a month out of that for Medicare.

So if you and your wife did about the same as I did, you'll get about 45K a year combined from Social Security. That's enough for a frugal empty nester couple to live with some semblance of dignity as long as they stay away from high cost of living areas.

But make no mistake.

The Koch Brothers, who have enough wealth right now to pay yours and your wife's social security for the next 2.2 Million years, (http://www.bloomberg.com/news/2014-0...rs-to-ads.html) are not satisfied with that. They want more, and they have sent their hired guns, the Republicans, to take your Social Security away from you.

Thanks for this real world look at it Tom, I appreciate it a lot.

[BlueStreak]

So, low wages aren't good for the economy? Who knew?

Dave

[bobabode]

Overview

• At extreme levels, income inequality can harm sustained economic growth over long periods. The U.S. is approaching that threshold.
• Standard & Poor's sees extreme income inequality as a drag on long-run economic growth. We've reduced our 10-year U.S. growth forecast to a 2.5% rate. We expected 2.8% five years ago.
• With wages of a college graduate double that of a high school graduate, increasing educational attainment is an effective way to bring income inequality back to healthy levels.
• It also helps the U.S economy. Over the next five years, if the American workforce completed just one more year of school, the resulting productivity gains could add about $525 billion, or 2.4%, to the level of GDP, relative to the baseline.
• A cautious approach to reducing inequality would benefit the economy, but extreme policy measures could backfire

https://www.globalcreditportal.com/r...40804-19:41:13

[bobabode]

Originally Posted by BlueStreak

So, low wages aren't good for the economy? Who knew?

Dave

Everybody except the sharks down on Wall St. Those damn soshulists at S&P are a buzzkill.