The Shifting Shape of Age Around the World (Uri Friedman) from the Atlantic
"Age breakdowns used to resemble pyramids. Now they're rectangles."
hard to figure out what happens to all the baby boomers. Just take a look
around and you’ll see them working lousy minimum wage service jobs everywhere. Many
boomers dreams of retirement have become nightmares of financial insecurity.
Boomers have been fleeced by their corporate masters, ruthlessly targeted by the
parasitic “retirement planning” industry, and have undermined their own
financial security through a life of excessive consumption. Many if not most of
the corporate retirement plans boomers were counting on have been, or soon will
be, transferred to the wealthy through bankruptcies, takeovers, mergers, and
other forms of corporate legerdemain. Even municipal and state retirements are
in jeopardy; it appears that Federal retirement is the only unassailable nest
egg. Now the very same financial companies who engineered this colossal theft,
have not missed the opportunity to profit from the fear and insecurity they themselves
created, by selling fleeced boomers “retirement products”, parasitically
managed little spoonful’s’ of money which provide nobody a decent retirement save
the charlatans who created them. Add to all this the pathetic state of the
average boomers personal spending and savings habits, and the result is a 70
something grandma or grandpa, earning minimum wage to stock shelves at Wal-Mart
just to make the Medicare co-pay. It used to embarrass me to have an exhausted
grandmother serving me cheeseburgers, but it has become so common that I hardly
notice it anymore.
Posted by: hopeandespair