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I can't believe how fewer people see that side! It's good for the working folks to get competitive wages, but what are you doing with the troves of people who h

I can't believe how fewer people see that side! It's good for the working folks to get competitive wages, but what are you doing with the troves of people who had to embark in the 401k/IRA/etc. "trains"? Are they expected to get back to work in their 60s/70s/80s, to make up for inflation and purchasing power

lapcat 4y ago
That's supposed to be what Social Security is for. Though arguably the retirement age is too low now for increasing human lifespans. (OTOH the pandemic cut into that somewhat.)
- netfortius 4y ago
  Living out of [only] social security is a bad joke, for a standard of living barely above just eating, sleeping and not getting sick. I contributed the max throughout my 30 years professional career, I'm fully vested, and it can barely cover anything of usable value, in these times. If one thinks that culturally / spiritually (but not religiously) could be supported by socsec, is delusional. Leaving the States is the only reasonable move, considering the present situation.
  - lapcat 4y ago
    Note that I said "That's supposed [emphasis added] to be what Social Security is for." The question is not what the federal government is actually doing right now (if anything) to help people affected by inflation but rather what the federal government could do to help people affected by inflation. Some people in the comments seem to be claiming that driving up interest rates is literally the only logical possibility, and nothing different could be done. The equation of retirement and stock market investment is a deliberate policy choice designed to push large amounts of working class money into the stock market, thereby benefitting the speculators and financiers.
    - Loughla 4y ago
      I've been thinking about your comment for a few days now. >The equation of retirement and stock market investment is a deliberate policy [. . .] Reads to me as if investing in stocks is a negative, that has been deliberately pushed on society as a whole. I am interested to hear what an alternative would be for you. What else can I park my money in for a good enough return to ensure that I don't have to rely on the weak (and ever weakening) SS? I legitimately cannot come up with anything worthwhile.
      - lapcat 4y ago
        > Reads to me as if investing in stocks is a negative, that has been deliberately pushed on society as a whole. I wouldn't say it's a negative per se, I'd say that it's risky. It's only suited for those who have the time, knowledge, experience, and money to lose. The working class in general aren't experts in the stock market, nor should they be, and they certainly can't afford to lose their retirement funds. This is why I say this policy is "benefitting the speculators and financiers", who are the natural participants in the stock market. > I don't have to rely on the weak (and ever weakening) SS? But why is it weak and ever weakening? That's the point. It's a deliberate policy choice for the government to undermine SS.

lapcat 4y ago

That's supposed to be what Social Security is for. Though arguably the retirement age is too low now for increasing human lifespans. (OTOH the pandemic cut into that somewhat.)

netfortius 4y ago
Living out of [only] social security is a bad joke, for a standard of living barely above just eating, sleeping and not getting sick. I contributed the max throughout my 30 years professional career, I'm fully vested, and it can barely cover anything of usable value, in these times. If one thinks that culturally / spiritually (but not religiously) could be supported by socsec, is delusional. Leaving the States is the only reasonable move, considering the present situation.
- lapcat 4y ago
  Note that I said "That's supposed [emphasis added] to be what Social Security is for." The question is not what the federal government is actually doing right now (if anything) to help people affected by inflation but rather what the federal government could do to help people affected by inflation. Some people in the comments seem to be claiming that driving up interest rates is literally the only logical possibility, and nothing different could be done. The equation of retirement and stock market investment is a deliberate policy choice designed to push large amounts of working class money into the stock market, thereby benefitting the speculators and financiers.
  - Loughla 4y ago
    I've been thinking about your comment for a few days now. >The equation of retirement and stock market investment is a deliberate policy [. . .] Reads to me as if investing in stocks is a negative, that has been deliberately pushed on society as a whole. I am interested to hear what an alternative would be for you. What else can I park my money in for a good enough return to ensure that I don't have to rely on the weak (and ever weakening) SS? I legitimately cannot come up with anything worthwhile.
    - lapcat 4y ago
      > Reads to me as if investing in stocks is a negative, that has been deliberately pushed on society as a whole. I wouldn't say it's a negative per se, I'd say that it's risky. It's only suited for those who have the time, knowledge, experience, and money to lose. The working class in general aren't experts in the stock market, nor should they be, and they certainly can't afford to lose their retirement funds. This is why I say this policy is "benefitting the speculators and financiers", who are the natural participants in the stock market. > I don't have to rely on the weak (and ever weakening) SS? But why is it weak and ever weakening? That's the point. It's a deliberate policy choice for the government to undermine SS.