Tchaikofsky Posted August 27, 2004 Report Share Posted August 27, 2004 Greenspan-Aged Population to Hit Finances 14 minutes ago By Glenn Somerville JACKSON HOLE, Wyo. (Reuters) - An aging U.S. population will strain public finances and hurt the economy without swift fixes to the social safety net, such as raising the age for full retirement benefits, Federal Reserve (news - web sites) Chairman Alan Greenspan (news - web sites) said Friday. "If we have promised more than our economy has the ability to deliver to retirees without unduly diminishing real income gains of workers, as I fear we may have, we must recalibrate our public programs so that pending retirees have time to adjust through other channels," Greenspan said at an annual symposium at a mountain retreat in Wyoming. "If we delay, the adjustments could be abrupt and painful." . . . "Massive tax cuts for the wealthy and four years of reckless budget management - not Social Security - have led to record deficits," said Robert Matsui, ranking Democrat on the U.S. House of Representatives Social Security subcommittee. "Cutting Social Security benefits would not appropriately address the issue of the long-term deficit," Matsui said. Any measure that proposes curbing retirement benefits, whether directly or through raising eligibility ages, is a hot-button issue for politicians and for lobby groups. Greenspan said rising rates of productivity -- or hourly output per worker -- offer one of the best routes to boosting national output so future retirees can maintain living standards without overburdening those still working. But productivity has been growing exceptionally fast for years and it is hard to keep increasing it through capital additions alone, he said. "One policy that could enhance the odds of sustaining high levels of productivity growth is to engage in a long overdue upgrading of primary and secondary school education in the United States," he added, saying this would give a new generation of workers the skills they need to be competitive. WTF??? Link to comment Share on other sites More sharing options...
Hypertiger Posted August 27, 2004 Report Share Posted August 27, 2004 "One policy that could enhance the odds of sustaining high levels of productivity growth is to engage in a long overdue upgrading of primary and secondary school education in the United States," he added, saying this would give a new generation of workers the skills they need to be competitive. Hahahaha Competitive with massive slave labor factory hives in China that have a pool of 300 million+ people to feed off of for replacements? A total Joke. It's impossible... Just declare year zero and empty out the cities into the killing fields... Link to comment Share on other sites More sharing options...
Guest Posted August 27, 2004 Report Share Posted August 27, 2004 "One policy that could enhance the odds of sustaining high levels of productivity growth is to engage in a long overdue upgrading of primary and secondary school education in the United States," he added, saying this would give a new generation of workers the skills they need to be competitive. WTF??? Of course...that's the answer Dr Evil! If we can just send the children of Burger Flippers and Retail Clerks off to re-education camps, the productivity of workers will rise exponentially in the near term! Uh...wait a minute...tell me again how that works? We've got these workers who are already adults, and they have (purportedly) been increasing their "productivity" (human output of work units per hour) exponentially in recent quarters. Provided all of the data we've been hearing is in fact accurate, I'm with you so far. Now run that by me one more time how Working Adults, which I'll refer to as "Group A" - the group whose "productivity" must increase exponentially in perpetuity...tell me how it is that Group A's productivity increases in the near term (as would be required to keep the economy afloat) by educating those not yet in the workforce? Ya sorta lost me on that one there, Dr. Evil! It sounds to me like Dr. Evil is on the big ("I told you so") legacy building tour in advance of the fall of the Amerikkan Empire. Link to comment Share on other sites More sharing options...
EddieBear Posted August 27, 2004 Report Share Posted August 27, 2004 An aging U.S. population will strain public finances and hurt the economy without swift fixes to the social safety net, such as raising the age for full retirement benefits, Federal Reserve (news - web sites) Chairman Alan Greenspan (news - web sites) said Friday. I have no problem with this. Unfortunately, as I understand it, when you start collecting Social Security the payment is based on your most recent pay (maybe the rules have changed). Most people who retire at age 85 won't be earning at the level (inflation adjusted) they did earlier in their careers. Link to comment Share on other sites More sharing options...
HiHat Posted August 27, 2004 Report Share Posted August 27, 2004 it just one big wingohockingmoyamensingin mess.........do any of them give a shyt about all the contradictions and cross purpose PUBLIC POLICEY going on here tax cuts........record deficits.......increase social programs for ILLEGALS Nafta........Globalizcrapation....productivety bullcrap heuristics.......... fiatsco printing ad absurdity.....debt=prosperity.....on and on Link to comment Share on other sites More sharing options...
HiHat Posted August 27, 2004 Report Share Posted August 27, 2004 i'm going to add one thing........have NO ILLUSIONS that these monsters don't know they are DESTROYING the Country. just like the Roman Senate sold those sheep out It's FABIAN SOCIALISM= TOTALITARIANISM....eventualeeeeeeeee Link to comment Share on other sites More sharing options...
Guest yobob1 Posted August 27, 2004 Report Share Posted August 27, 2004 I don't know about youse guys but I've had one nasty bitch of a week - and that's away from the markets. Oddly people I talked to all over the country were having the same experience. Seems like the effup was pretty much universal. Bad Karma abounds. A cop gets a cut on a leg, probably because of stupidity and carelessness on his part and the "perp" gets 25 years? Hell he may as well have shot him in the head he would get out sooner. Damn good thing he didn't steal the President's pretzels. Folks if we don't take back our country pretty damn soon, there won't be anything left to take back. Link to comment Share on other sites More sharing options...
Hiding Bear Posted August 27, 2004 Report Share Posted August 27, 2004 Election Erection Feed Gets a Stiffy from Al for Bush Fed Update is now posted! Know what Al and his crew are up to, and how it's likely to affect the markets. Take a subscribatory and download your daily Fed Report. 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW! The Fed is pushing harder and harder, foreign central banks are buying dollars faster and faster. No doubt that they either recognize a downturn ahead in the economy and/or they just want things to be better going into the Repub convention through the election. They are talking tough about inflation but at the same time trying to encourage spending and purchase of assets based on interest rates below the perceived rate of inflation. If they fail, the market will fall off a cliff. If they succeed, oil and precious metals should resume their upward course. Link to comment Share on other sites More sharing options...
Guest Posted August 27, 2004 Report Share Posted August 27, 2004 I don't know about youse guys but I've had one nasty bitch of a week - and that's away from the markets. Oddly people I talked to all over the country were having the same experience. Seems like the effup was pretty much universal. Bad Karma abounds. A cop gets a cut on a leg, probably because of stupidity and carelessness on his part and the "perp" gets 25 years? Hell he may as well have shot him in the head he would get out sooner. Damn good thing he didn't steal the President's pretzels. Folks if we don't take back our country pretty damn soon, there won't be anything left to take back. Talking to my mother last week and she told me about one of my cousins. Caught with $40 of meth. When asked if he had ever made meth, he replied yes. Got 25 years in prison for manufacturing and distribution. Not saying he should not been punished, but 25 years? Something is seriously wrong out there folks. Link to comment Share on other sites More sharing options...
Guest Posted August 27, 2004 Report Share Posted August 27, 2004 Neely just said Gold is gonna crash. 200$ lol, where's that leave the dollar? neely's hog calling has been no better or worse than mahendra. yawn... happy birthday darwin, belatedly. hello hihat, nice to see you as well & hello to the rest of the unusual suspects. hypertiger's far more relevant than most recognize, but that's merely an opinion. jrmfl, its a pleasure to see you back amongst us. Here at B4theBell, vs some other boards, we seem, so far, to have been able to accomodate the widely divergent views of many, many fine minds, without the acrimony which has so frequently driven folks from CapitalStool. While I am a bear, I NEED to hear differing views so that I can adjust my own thinking, To me, the most important thing is #1, my own survival, #2, survival of my family, loved ones, and perhaps, my value system which is different from that of my loved ones. #3 would be the capability of me and mine to financially sustain ourselves. Yesterday, my Texas daughter, told me her job as Exec VP of an Architecture firm has been outsourced to a Civil Engineering firm, not to India, just to another company in Texas.. She was the only Civil they had employed so she is now going on Unemployment. In spite of my guidance, she and her hubby, another Civil, have continued to use credit to exceed the limits of their annual income: give or take $160,000/yr plus two children in private religious schools. They are strong Repubs. Meanwhile, I babysat last night with my grandson so his mom, my ex-daughter-in-law, could go to a teachers' meeting for her new part-time job teaching English to Adult Ed persons trying to advance. She is a fully certified teacher in Mich, but can't find a full time job. What's with that? She works part-time jobs in sales in stores and has started a sales company but they produce very low income. Fortunately, my son, who is a wealthy home builder, decided to stop the fighting between them and now subsidizes both her and his son, not by some law, but by personal choice. My grandson is now living very close to both parents and profiting from this new arrangement. Making Peace, not War, was the solution. All of my children and their mates are highly educated, yet the vauguaries of this world could wipe them out quickly. They don't want to hear that, they are threatened, almost panicked, by my ideas about preparations for survival. They have their positive goals for the future, yet deny the events that could deter attaining them. They are ALL strong Repubs. I cite Natural Disasters, Terrorist attacks, Peak Oil, and collapse of financial systems as things to be concerned about. While I continue to gently educate my family about the above and recommend how to be prepared to sustain their lives, I need feedback from others as to how the above events/conditions are altered, whether enhanced or diminished. I simply don't have all the answers. Neither does any one else, as Doc would say. But by sharing our differing views maybe we can collectively find ways to survive and even more, find ways to alter our political/financial systems so that many other members of Planet Earth can also survive. Welcome back, jrfml. Together here, maybe we will succeed in informing each other. Sherlock :cry: Link to comment Share on other sites More sharing options...
Hypertiger Posted August 27, 2004 Report Share Posted August 27, 2004 It's taken 311 years to reach the current unfixable illogical state... 500 or so if you set the collapse of the Venice banking system as the point where something should have been done... 1000 years if the collapse of Rome is when you think something should have been done... You can keep going back until there is no more recorded history... You can't get something back which you never had in the first place...The illusion that you had something is what is crumbling... That is all that is happening...the illusion or lie is unsustainable due to the construction of the Universe a lie is finite and fragile...Temporary...The truth is infinite and indestructible...Eternal... All lies self destruct...it's inevitable. And it has crumbled enough to be noticed...soon it will completly self destruct...Wild cornered animal stage where 100's of millions of people basically hack themselves to pieces to hold on to or reaquire something they never had... Link to comment Share on other sites More sharing options...
purdymouth Posted August 27, 2004 Report Share Posted August 27, 2004 http://www.cbsnews.com/stories/2004/08/27/...ain639143.shtml (CBS) CBS News has learned that the FBI has a full-fledged espionage investigation under way and is about to -- in FBI terminology -- "roll up" someone agents believe has been spying not for an enemy, but for Israel from within the office of the Secretary of Defense at the Pentagon. 60 Minutes Correspondent Lesley Stahl reports the FBI believes it has "solid" evidence that the suspected mole supplied Israel with classified materials that include secret White House policy deliberations on Iran. Link to comment Share on other sites More sharing options...
wndysrf Posted August 28, 2004 Report Share Posted August 28, 2004 "One policy that could enhance the odds of sustaining high levels of productivity growth is to engage in a long overdue upgrading of primary and secondary school education in the United States," he added, saying this would give a new generation of workers the skills they need to be competitive. ? ? ? ? ? WTF??? Of course...that's the answer Dr Evil! If we can just send the children of Burger Flippers and Retail Clerks off to re-education camps, the productivity of workers will rise exponentially in the near term! Uh...wait a minute...tell me again how that works? We've got these workers who are already adults, and they have (purportedly) been increasing their "productivity" (human output of work units per hour) exponentially in recent quarters. Provided all of the data we've been hearing is in fact accurate, I'm with you so far. Now run that by me one more time how Working Adults, which I'll refer to as "Group A" - the group whose "productivity" must increase exponentially in perpetuity...tell me how it is that Group A's productivity increases in the near term (as would be required to keep the economy afloat) by educating those not yet in the workforce? Ya sorta lost me on that one there, Dr. Evil! It sounds to me like Dr. Evil is on the big ("I told you so") legacy building tour in advance of the fall of the Amerikkan Empire. Plunger: What is so hard to understand?? Its simple. Get everyone enrolled in Waxie Parness' "Trend Trading to Win" or Carleton Sheets' "Get Rich in Real Estate" classes, and soon you will have an entire new generation of Action Junkies, HedgeFund managers, Fumble Managers, speculators, gamblers, property flippers, etc. Productivity will be going parabolic, since speculation is now 90% of our GDP. Our retired population will be able to live off the riches of huge windfall profits obtained by exporting Financial Exotica to the rest of the world............ Link to comment Share on other sites More sharing options...
wndysrf Posted August 28, 2004 Report Share Posted August 28, 2004 Hypertiger: Please go drink a couple of shots of tequilla and go find some friends to crack some jokes with................ Love your analysis, but YOU ARE GETTING TOO MORBID........... Link to comment Share on other sites More sharing options...
Butterfield 8 Posted August 28, 2004 Report Share Posted August 28, 2004 Sherlock, it;s just going to be hard. We will see more extended families living in one house to save on expenses, a call for a national rail system, I suspect, My family ridicules my frugality, but I go ahead with a plan to support all of them, should that become necessary. Moving to Canada is part of that plan. Trying to find ways to become self-sufficient. By the way, they are not only ALL Republican, they are all evangelical conservatives addicted to Rush and O'Reilly. Re SS payments, they are based on lifetime input. I would settle for a check in cash for my total contributions. Link to comment Share on other sites More sharing options...
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