At 77 He Prepares Burgers Earning in Week His Former Hourly Wage

Quote from jem:

Poor guy... but unless you pound away the equivalent of a few million in todays dollars... this low interest rate deal will kill you.

That is how govt spending, inflation and an artificial low interest rate environment come together to screw the middle out of they life savings, their retirement and their dignity.

Their polices turn everyone into drones. The left is destroying people. Spending to the point of 700 percent inflation over 50 years.

So the savings you made for the first 30 years of your career amount to nothing unless you can outplay the bubbles in the market.
You have to put it all away all your savings in the last 10 years of work because inflation makes the rest meaningless. And if you have kids... the colleges will take away those earnings with their debt engorged tuitions.

Swapping out decades of work for a snap card and your vote.
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So what is the answer? Should everyone stop working and instead, just speculate on the markets?

Here in the UK, average property prices are going up at the rate of £100 a day. The average after tax wage is about £80 a day. Buy a house and quit the job???
 
I was not advocating great investing..
I was pointing out that systematic inflation caused by crazy govt spending and central bank policies have destroyed the lifes work of working class people.

the man in the article is just one example.

I have had lunch with a retired ivy league professor: he retired with a plan and what he thought was a good chunk of money. But, because of this low interest rate environment he is eating away at his principle.

the article just pointed out the average baby boomer has less than 120 grand to retire with.

Why because all you saving has to be done with recent earnings.

savings from 20 years ago... are reduced to peanuts by inflation.
inflation also caused people to tap their savings and get strapped down with massive mortgages and college tuition.
 
Quote from drownpruf:

Should've saved more. Reverse mortgage.
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Bought a 21K house w/cc. Sold his house for 180k. Gave kids house down payments. Then paid off cc.

This was what is called a lumpsum RM.
 
Great article. LMAO

Reflecting on coming to Poughkeepsie when I was 24. Had job at IBM and put 50% of salary in trading account.

Was making 10% every 6 to 8 days.

I used blueprint machine to make brownlines for pencilling stock charts.

IBM provided profs to get me through Theoretical Physics in about three years. (They wanted my thinking improved)

Every summer for a month in Europe by using IBM flights.

First and last job which lasted five years......

Why would anyone save if they knew how to trade?

Why would anyone talk about savings?

The article writer works for Bloomberg. The editor let this article get published. What gives?

Traders have immunity from the government and banks and all that stuff.
 
Quote from jack hershey:

Great article. LMAO

Reflecting on coming to Poughkeepsie when I was 24. Had job at IBM and put 50% of salary in trading account.

Was making 10% every 6 to 8 days.

I used blueprint machine to make brownlines for pencilling stock charts.

IBM provided profs to get me through Theoretical Physics in about three years. (They wanted my thinking improved)

Every summer for a month in Europe by using IBM flights.

First and last job which lasted five years......

Why would anyone save if they knew how to trade?

Why would anyone talk about savings?

The article writer works for Bloomberg. The editor let this article get published. What gives?

Traders have immunity from the government and banks and all that stuff.
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I thought the guy was you, Jack, but you're older.
 
Quote from jack hershey:

Bought a 21K house w/cc. Sold his house for 180k. Gave kids house down payments. Then paid off cc.

This was what is called a lumpsum RM.
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So you rode the finance charges for a couple decades? Sounds like something Hershey would do.
 
Quote from ElCubano:

We are all 1 misstep, wrong decision away from where this guy is now.
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Perhaps. But it's not the "left's" fault. It's what the right has done to the middle class since 1980.
 
Left and right have been on the same side for quite a few decades now. They are bought by the same lobbyists.

What differs is the marketing.
 
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