Can Anyone Retire Anymore????
April 10, 2008
– Comments (8)
A confluence of adverse forces – notably falling wealth and rising inflation – is making many Americans less confident about their well-being in retirement.
On Wednesday, an annual survey of Americans recorded the largest-ever plunge in retirement confidence in 18 years of polling.
It's not uncommon for long-term confidence to ebb and flow with changes in the economy, but the sharp drop reflects larger factors led by rising medical costs and an unusual plunge in home values.
http://news.yahoo.com/s/csm/20080410/ts_csm/aretirement
NEW YORK (AP) -- U.S. retail gas prices extended their record run Thursday, adding to the pain consumers feel every time they fill up. Experts predict prices will rise even higher as peak summer driving season approaches.
http://biz.yahoo.com/ap/080410/oil_prices.html
ATLANTA (AP) -- Another day and hundreds more flights grounded. The financial toll and loss of goodwill among travelers from the debacle that spread further Thursday beyond American Airlines' massive cancellations could be severe -- on an industry already reeling from high fuel costs.
http://biz.yahoo.com/ap/080410/airlines_passengers.html
This week's flight cancellations by American Airlines are likely to spread to other U.S. airlines in the weeks ahead as federal regulators step up a by-the-book review of carriers' compliance with maintenance and safety orders issued in recent years.
http://biz.yahoo.com/ap/080410/airline_safety_analysis.html
WASHINGTON (AP) -- Lenders are dropping out of the federally backed student loan business in droves, fleeing an environment squeezed of cash because of the credit crunch.
http://biz.yahoo.com/ap/080410/student_loan_squeeze.html
WASHINGTON (AP) -- The U.S. trade deficit unexpectedly increased for a second straight month in February, raising concerns that the economy's one standout performer could be starting to flag.
http://biz.yahoo.com/ap/080410/economy.html
Transportation shutting down. Getting More Expensive to Drive or travel anywhere. Flying is becoming more difficult and expensive everyday. And NOW the Federal Government is grounding airplanes as four airlines shut down last week? Truckers are pulling off to the side of the road as Diesel crosses $4.00 per gallon. Try looking at fuel surcharges for shipping goods. No wonder UPS warned of further deterioration in March.
Our Budget Deficit is tracking at a Historical High just as our President is leaving office. Our trade deficit is increasing again. Our dollar is crashing. Inflation is heating up and jobs are being axed by the thousands everyday.
The wealth of Americans is eroding daily. Housing values collapsing. Bond values collapsing. Dollar collapsing. Not only that, the price of almost everything we pay for is going through the roof. Airline tickets, food, fuel, transportation save bicycles and walking(unless of course you decide to eat or drink durning such activity).
And the government is telling us to wait to see if the stimulous package works? Are we nuts? Credit is tighening everywhere. If you are a student trying to get a loan. A business trying to expand its line of credit. A city trying to issue a bond. It is harder or more expensive for practically anyone or anything trying to raise funds.
And the Fed's solution? Increase Regulation!!!!!!!!!!!!!!!!!!!!!!!!!!!!! You gotta be Freaking kidding me.!!!!!! Increasing regulation is shutting down our economy.
WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke said Thursday that regulators must move ahead on ways to prevent a future financial crisis from occurring even as they battle one that threatens to plunge the country into recession.
http://biz.yahoo.com/ap/080410/bernanke_credit_crisis.html
Wealth Contracting. Credit Tightening. Jobs being lost. Transportation becoming more difficult and expensive. Budget Deficit Increasing. Dollar Crashing. Prices Going Though the Roof. Wages stagnant and/or contracting.
Pretty soon, the only two retailers in America might be Costco and WalMart. If jobs keep getting cut and wealth contracting...one of those two might not make it.
AND PEOPLE ARE WORRIED ABOUT RETIRING????......HOW ABOUT MAKING IT TO THIS SUMMER WITHOUT FALLING INTO A VERY DEEP DEPRESSION IF CREDIT CONTINUES TO TIGHTEN AND BUSINESSES SHUT DOWN!!!!!!!!!!!!!!!!!
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