Tuesday, February 03, 2004
the bolsheviks take over at business week
a comment i posted over at calpundit:
interesting tid-bit from a business week article:
YOUNG HAVE-NOTS. "Not only are there going to be a lot more people retiring, but how many of them have made any preparations beyond relying on Social Security and Medicare?" wonders Deak. Some economists even speculate that as boomers start selling off their assets -- primarily homes and stocks -- to fund their retirements, they'll create gluts that could drive down housing prices and the stock market.
Most economists insist that such worries are premature. For now it's enough to fret about mounting federal debt, a huge Social Security funding gap, and worsening retirement-plan shortfalls at the same time the first boomers are getting ready to retire.
"The most fundamental conflict is between the haves and have-nots," says Zandi. "But younger workers tend to be in the have-not group." Thus, pressure is mounting on both aging boomers and the Gen X-ers that will follow them. And soon, they may be ready to rumble.
is it considered class warfare when conservative commentators and analysts begin to use terms like "haves" and "have-nots?"
UPDATE: added the article's hyperlink
a comment i posted over at calpundit:
interesting tid-bit from a business week article:
YOUNG HAVE-NOTS. "Not only are there going to be a lot more people retiring, but how many of them have made any preparations beyond relying on Social Security and Medicare?" wonders Deak. Some economists even speculate that as boomers start selling off their assets -- primarily homes and stocks -- to fund their retirements, they'll create gluts that could drive down housing prices and the stock market.
Most economists insist that such worries are premature. For now it's enough to fret about mounting federal debt, a huge Social Security funding gap, and worsening retirement-plan shortfalls at the same time the first boomers are getting ready to retire.
"The most fundamental conflict is between the haves and have-nots," says Zandi. "But younger workers tend to be in the have-not group." Thus, pressure is mounting on both aging boomers and the Gen X-ers that will follow them. And soon, they may be ready to rumble.
is it considered class warfare when conservative commentators and analysts begin to use terms like "haves" and "have-nots?"
UPDATE: added the article's hyperlink
