February 28, 2007

HousingPANIC Stupid Question of the Day

Baby boomers have bet their entire retirement on their home's phantom equity, their company's pension, and their stock portfolio held 100% in dollars.

What happens if it all goes poof?

I fear for us. All of us.

Think it can't all go awry? Think the government will be there to take care of you? Anyone remember Katrina?

32 comments:

hurin said...

Let them eat cake.

Anonymous said...
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Anonymous said...

Baby Boomers and future generations will have to work until they die

Anonymous said...

I aint worried. Cause my trailer gots Feng Shoe.

Besides it only cost me fifteen hundered dollah wen I bought it.

An I gots a nonferrious IRA and lots of Redneck Yard Art to pay fer my retirement.

http://buckandmabelsbigadventure.blogspot.com/

Flagg707 said...

The Baby Boomers out-vote us. My guess is that this generation of narcissistic, whiny and self-absorbed fools will vote in a dictator who promises to bail them out.

They are always looking for someone to save them from the problems THEY caused. Just like their parents did and just like they are expecting Gen X to do.

Anonymous said...

Why would they worry? They can always fall back on social security to take care of them. I am happy to pay for this wonderful government service, and fully expect it to remain functional and intact in thirty or forty years from now when I retire.

Heh, heh. Just kidding.

Anonymous said...

He he stole my job!

Anonymous said...

Walmart please hire me

Anonymous said...

Baby boomers have bet their entire retirement on their home's phantom equity, their company's pension, and their stock portfolio held 100% in dollars.

some have bet their retirement on my desire to pay taxes and fund their "governmental" pension... and some corporations have shifted their pensions, I think, onto the government...

Mammoth said...

On top of 'all of the above,' just wait until those unaffordable health care expenses kick in...

Anonymous said...

Question: What do you call broke retirees?

Ans: Loyal democrats.

Have a nice day!

Anonymous said...

Dad is that you?

Anonymous said...

The boomers new $20 bill should have the motto "In Wal-mart we Trust" because even God doesn't believe in the Social Security Miracle.

Anonymous said...

You wanna retire well ?

Try buying an ounce of gold with your monthly pay cheque.

Forget about retirement plans and real-estate(for a good 10 years).

Would you give your neighbour a % of your pay each month for them to invest for your 'retirement' ? If not, then why should you trust the govt or any other institution ?

Anonymous said...
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Veronica Lodge said...

Baby boomers have bet their entire retirement on their home's phantom equity, their company's pension, and their stock portfolio held 100% in dollars.

Asked and answered today's San Francisco Chronicle: "Did the stock market drop rattle your cage?"

"My family members who deal in stocks are definitely rattled. It is a huge loss. But, as I always told them, stocks are risky business. Personally, I invest in mutual funds."

So there you go. Stocks are risky, but mutual funds are not.

Anonymous said...

could that b blowfly?

Cow_tipping said...
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Anonymous said...

Blowfly;

A greeter at an apartment complex!

Anonymous said...

It's ok we'll get some tax breaks, right?

AmazingRuss said...

They can tax me all they want...I'll quit generating income, and ride this beyotch down with the rest of the parasites.

MMMMmmm...Soylent Green

Anonymous said...

Another OLD PERSON stealing my job, let's send all 55+ people to Mexico damn it, then we'll save jobs and health care costs.

Frank said...

People need to start reading some Ayn Rand books. Depending on the government is wrong. Expecting the government to take care of you is wrong. Socialism is wrong.

Everyone is responsible for their own actions and their own destiny. Anyone who is sitting on their rear-end expecting a government bailout (from MINE and YOUR hard-earned tax dollars) is a lazy piece of garbage and will get what's coming to them.

Anonymous said...
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Anonymous said...

Flag707,

It's refreshing to read a "slam" against the Baby Boomer generation. I was born at the very tail end of that generation and one of my biggest regrets has been that I wasnt born 2-3 years later so I wouldnt be affiliated in any way with them.

As a group they have never liked me much and the feeling is mutual.

Any generation that embraces all the drugs and degeneration that this group did doesnt deserve to be in power.

They are the "Test Tube" generation who hated everything which was great about the United States. And they worked overtime to destroy it.

And youre right about them voting in a dictator, look at the Governor of California. Only the baby boomers could embrace a Hitler for Governor.

latashia wilkins said...

I wuth be robbed

Anonymous said...

Baby Boomers and future generations will have to work until they die

February 28, 2007 1:21 PM

-------------------

So? Up until only the past 50 years or so that's what people did. The notion of working 30 years and retiring for another 30 years was laughable pre 1950s. If you can set aside some money for yourself and live 30 years without working, great, all the best. But I don't want to pay for it.

I hope SS, Medicare and the rest of it blows up ASAP. We can then get rid of this ridiculous notion that the gubermint will take care of us from cradle to grave. We may then get back to a capitalist society where those that can do and those that can't whither away and die.

And the boomers who gave nothing saved up...fuck them. I

vegas crash watcher said...

Your fear is my hope that the suffering is widespread and so deep that suicide is a realistic option.
Every seller needs a buyer; who will buy the boomers' McMansions and mutual funds in their 401Ks and IRAs? Pedro the landscaper?
Not likely. Please let them feel real pain for rejecting individual freedom and embracing the welfare state.

Grandpa weed said...
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Anonymous said...

Thy can always live under a huge American flag, using it as a tent. Then, before going to bed, they can kiss the pictures of Bush & Cheney. To eat, they will get one of those gazillion guns from their collection, and shoot little animals and birds.

Don't you guys think, sometimes, that this country is a big miracle?

Anonymous said...

you people are dum-dums ... can't get rich in a state where the masses are poor

where are your workers? consumers? engineers?

where is your capital? your infrastructure?

gov't policies created the greatest middle class the world had ever seen. everyone prospered. then gov't policies dismantled that middle class. more and more money was spent on conspicuous consumption. less and less was spent on roads, factories, ports.

it was not social security which created this mess ... it was a tax system which favored high consumption ("trickle down economics") and bankrupted what was once the strongest economy in the world

ps--it used to be beneficial tax-wise for corporations to plow profits right back into capital enhancements. now it's beneficial to send the IP offshore and spend the profits on mistresses and $1000 wines.

Anonymous said...

Totally agree with Flag707

screw the babyboomers they have put my generaton into so much damn debt.