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In reply to the discussion: TIRED of INEQUALITY? Get used to it. Things look like they're only gonna get worse. [View all]KoKo
(84,711 posts)I'd have to do some research on him...but, I get tired of hearing this:
"It's a radical change from the America of 40 or 50 years ago. Cowen believes the wealthy will become more numerous, and even more powerful. The elderly will hold on to their benefits ... the young, not so much. Millions of people who might have expected a middle class existence may have to aspire to something else. "
Petersen Foundation wants to do away with Social Security and always have "peeps" who go out and talk about "Wealthy Elderly." The elderly these days are suffering...because what they've saved is being eaten away with higher costs on everything and what they did save (those who had anything to save) are making almost 0% interest rates in a Safe Savings Account. And there are folks who call my Father every day trying to get him to invest to get more income because he's not making anything in his savings account. And, yes he has Call Block on his old phone...but, they get through anyway. Fortunately he's not gullible but it pisses him off that he saved all his life and it's being eaten away. He's too elderly to be in the stock market...which he realizes and his mutual funds he had did badly during the meltdown and he pulled out of them in panic. He lost quite a bit and he was in pretty safe highly recommended funds with low commission. But, he just was too afraid when Paulson was carrying on about how the "US would MELT DOWN..if the Banks didn't get a Bailout."
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