PDA

View Full Version : An ingnored warning from 2005



Katwoman
31st August 2009, 09:47
Dec. 2, 2005 Once again baby boomers are being warned that unless something is done about the soaring federal deficit their retirement years may fall far short of expectations. It has become a consistent theme of Federal Reserve Bank Chairman Alan Greenspan, who spoke again today expressing his fear "that we may have already committed more physical resources to the baby-boom generation in its retirement years than our economy has the capacity to deliver."

If the federal deficit was "soaring" in 2005 under Greenspan then in must be rocketing skyward now!!

http://www.seniorjournal.com/NEWS/Boomers/5-12-02-GreenspanWarnsBoomers.htm

of one mine
31st August 2009, 10:14
Now they will the savers not spenders. In fact everyone is now trying to save instead of spend on things they dont need. Luxury items, extras, cars, boats, jewelry. Now they will see as the next few years go by a double dip recession. What we have now is just the first half of a bad situation, be prepared for the next half. We are at present in a temporary hold pattern before we begin the last half of a downward trend.
I hope everyone here does well.
Take care
Of one mine

valerb
31st August 2009, 10:40
Dec. 2, 2005 Once again baby boomers are being warned that unless something is done about the soaring federal deficit their retirement years may fall far short of expectations. It has become a consistent theme of Federal Reserve Bank Chairman Alan Greenspan, who spoke again today expressing his fear "that we may have already committed more physical resources to the baby-boom generation in its retirement years than our economy has the capacity to deliver."

If the federal deficit was "soaring" in 2005 under Greenspan then in must be rocketing skyward now!!

http://www.seniorjournal.com/NEWS/Boomers/5-12-02-GreenspanWarnsBoomers.htm

What he should have said, was with all of the baby boomers money we have already spent and will continue to spend, they are screwed.

MiloMorai
31st August 2009, 19:26
What he should have said, was with all of the baby boomers money we have already spent and will continue to spend, they are screwed.


Thank you for that clarification

Oh Woe Is Me :(

So true though

gottago
31st August 2009, 22:09
What he should have said, was with all of the baby boomers money we have already spent and will continue to spend, they are screwed.



This says it all just fine.....

of one mine
1st September 2009, 12:10
WHat the banks arent telling you is the FDIC does not have the money to insure the banks anymore. Also the money they would borrow to insure you is gone too. I expect a run on the banks should people be inclined to do so. Not that it panic time but I dont like the way this looks.More banks will fail in the next two years. Stronger banks will pick them up cheap. If the fed has to take the hit it wont be good.

of one mine
https://www.sovereignsociety.com/Portals/0/ana/htmlemail/liars/1a.gif