I had a retirement fund once, and not that long ago. Oh I was not going to retire rich but it would have kept me off my son's doorstep. It would have kept me from working until I died at my desk, but that has all changed. I blame no one but myself and the politicians in control of the Congress and Senate.
I blame myself because I did not listen to what all the Wall St. pundits were saying, as early as 2 years ago they warned of this. I, like most, thought it would not end. Mostly I blame the politicians because they are and remain the big enablers here. They deregulated knowing, but seemingly not caring, about the future, only caring about votes and power. And they knew what was about to happen and warned no one. If anyone out there in the Blog-O-Sphere heard any warnings from the politicians let me know.
I do not blame the big corporate executive, because you and I would have done the same thing, they were paid to their contract and took what they could get. Greedy? Yes. broke the law? No. I do not blame the home owners because they were taking advantage of a lending market fueled by government deregulation. But I do believe there should be rewards for living up to a contract and consequences when you do not. Instead we are rewarding
them.I think they should have taken that $1,000,000,000,000.00 (that's 1 trillion) and wrote checks to all tax paying citizens and let them inject it into the economy. Imagine what we could have done with $10,000.00 each. (based on 100,000,000 individual tax payers.)
At this time I am not on my sons doorstep, but I'm in the driveway.
"hello son! Can you say multi-generational dwelling?"
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I also had a fund (We call it superannuation here). It's dropped 20% in six months. Prior to that I was seeing 10% annual returns. Given that I've made money since retiring in 2005, I can't complain.
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