The collapsing middle class- now they are going after pensions.

[dixiegrrrrl]

18. 2 things:

First, that is an excellent post. Detailed, and an important topic.
Thank you. Will bookmark and rec.

second, there are stories coming out of Spain in which banks holding retirement savings of people have
"sequestered" that money, preventing the owners of the accounts from accessing their savings.


Also:
by keeping interest rates low, the Bernak is keeping Soc Sec. funds underfunded, thus enduring the fund will go broke at least a decade earlier than predicted.

Soc. Sec. and most pension/retirement funds were originally based on an average return of 8%.
Which has not happened for years now.
Sadly, I have friends in their late 50's who absolutely refused to believe their retirement funds are facing any problems, even as towns and cities declare bankruptcy and cannot pay into the same funds.