Here's a real joke that Ben and Tim pulled on us and nobody is laughing!--- (newspaper ad LA Times pg 5A 5/17/2012).
I can just envision a fun-time retirement. I'll mosey down to Walmart and pick up a shopping cart--before they run out. And if I'm lucky Maytag may have a "collapsible mobile home" that I can snag.
Copyright 2012 by Jim Brubaker
5 comments:
Jim,
1.05% APY isn't too bad actually (as long as you have a minimum of $10,000,000.00).
But wait... FDIC only covers $250,000 of that (.025%)!
But wait... eventually Bernanke is going to ensure that my purchasing power loses 50% of its value every 10 years.
Ok, so I'd better recalculate. Let's see now... Right! So I'll need $100,000,000.00 in order to guarantee a stable retirement.
Ok, I've got that straightened out now.
Hi Anon 1:42
I think you're on to something;>)
Using the rule of 72 (1.05 into 72) My money will double in 72 years. I'll be 137 years old.
What's more ridiculous, thinking I'll live to be 137 or the 1% interest rate? Hell of a choice isn't it?
I might have the answer to this situation Jim in San Marcos,,,
Maybe the solution is to liquidate everything you have,,, spend all the money and have a great time,,, quit your job and go onto unemployment and then disability,,, causatively go into the poverty band and then no worries about health care or anything,,, get food stamps,,, all the subsidies, handouts and perks possible,,, if you are young, get a government job before doing the above so you can have a huge pension and great health benefits for life,,, don't be in the middle class or you'll be punished,,, POOR IS THE NEW RICH!
137 is possible if you survive long enough to see the start of the longevity pills. They will be expensive though, as they don't want the entire world to live forever.
Imagine the debt we could stack up as Americans, if we could live for 500 years while getting 1% on our savings and paying 20% on our credit cards.
Jim,
The sad thing is that Americans are too busy with their lives, jobs, children, etc. struggling to make ends meet and things work. As a result they are not vigilant over their country's internal and external affairs. Americans have also been dumbed down by the educational system, TV, movies, books, mags, etc. and as a result don't understand the basics of government, economics, politics, thus they can't even form an opinion as to whether their president, government representatives, corporate leaders, etc. are leading this country in the direction of productivity and prosperity.
A democratic country will thrive in proportion to the intelligence, vigilance and participation of its citizens. Without these points a country is doomed to being usurped by criminals and other self-serving groups and individuals.
The individual is the basic building block of a society. The individual's condition will pretty much determine the future of that society.
So we know where we are headed don't we?
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