Dear WIP,
The bankruptcy rate today is 3 times what it was in 1991 for people 65 and over.
Who could possibly have imagined that the systematic theft of Baby Boomers’ pensions to artificially inflate stock prices and temporarily inflate short-term profits would EVER have any adverse effects on actual people?
Driving the surge in bankruptcy is a 3-decade shift of financial risk from government and employers to individuals who bear an ever-greater responsibility for their own financial well-being as the social safety net shrinks.
Longer waits for Social Security, replacement of employer provided pensions with 401K savings plans, less coverage and more out-of-pocket charges in insurance plans,
Are we so gullible that we fall for the propaganda every time?
Clifford Hunt
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