"America’s Achilles’ heel " - Spengler's warning.

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neverfail
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"America’s Achilles’ heel " - Spengler's warning.

Post by neverfail » Thu Jul 12, 2018 2:59 am

(quote) A trade war produces only losers and the Washington administration should not operate under the illusion that China is more fragile than the US.

http://www.atimes.com/article/consumpti ... trade-war/

Prepare for hard times to come. :(

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lzzrdgrrl
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Re: "America’s Achilles’ heel " - Spengler's warning.

Post by lzzrdgrrl » Thu Aug 23, 2018 9:15 pm

America's Achilles' heel is our demographics...... and complacency:
Except in Africa and South Asia, the world’s population is aging rapidly. Between 2010 and 2050 the proportion of Americans over 65 will nearly double assuming constant fertility and immigration. By 2034 the Social Security Trust Funds will be depleted.1 By that time there will be two Americans over 65 for every five Americans of working age; if the government taxes earnings on a pay-as-you-go model, the burden on working Americans will be insupportable. The average American family has saved only $96,000 for retirement; more pertinent, the median family has saved just $5,000
https://americanaffairsjournal.org/2017 ... ings-trap/
I have a certain notoriety among the lesser gods........

neverfail
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Re: "America’s Achilles’ heel " - Spengler's warning.

Post by neverfail » Fri Aug 24, 2018 5:32 am

lzzrdgrrl wrote:
Thu Aug 23, 2018 9:15 pm
America's Achilles' heel is our demographics...... and complacency:
Except in Africa and South Asia, the world’s population is aging rapidly. Between 2010 and 2050 the proportion of Americans over 65 will nearly double assuming constant fertility and immigration. By 2034 the Social Security Trust Funds will be depleted.1 By that time there will be two Americans over 65 for every five Americans of working age; if the government taxes earnings on a pay-as-you-go model, the burden on working Americans will be insupportable. The average American family has saved only $96,000 for retirement; more pertinent, the median family has saved just $5,000
https://americanaffairsjournal.org/2017 ... ings-trap/
We are all in the same boat that way Izz.

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lzzrdgrrl
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Re: "America’s Achilles’ heel " - Spengler's warning.

Post by lzzrdgrrl » Fri Aug 24, 2018 9:57 am

We can work now to reduce the cliff and soften the fall and there's no reason why we can't help ourselves by helping the future. Would that make a good tagline......"Helping Ourselves By Helping the Future"? Less truculently confrontational than "Don't eat the damn seed corn".......;P........

I had a discussion with my supervisor over a client just a bit ago. The issue I wanted to raise was that of scaling down. Baby boomers and even their parents are just as entitled as X-ers and Millennials, just no one is willing to push it as hard. People going on social security should be the ones reducing their ecological and economic footprint and encouraging the young people to expand theirs. We've inverted the generational revenue/expense pyramid and if we don't set it right, we're doomed. A big house may be paid for, but it isn't free. If maintenance, utilities and insurance isn't covered by the homeowner, then it has to be covered by government and community programs and services and the people working for them. Oh yeah, Social Security, but that's a swamp and there IS NO TRUST FUND. And you're still diverting resources and labour. Meanwhile young people aren't buying homes and starting families and they're living small alright with modest jobs, small apartments and public transportation......

How many baristas paying their FICA contributions will fund a retired CPA in her four bedroom home, finished basement and two car garage (she doesn't drive) on a two acre lot that needs mowing every two weeks? Let's also say she's on kidney dialysis and that she still needs her driveway ploughed in the winter because her son or daughter drives her to the clinic and the grocery store. I'm sounding like a bitch and there nothing wrong with retired people, but with the 5:2 ratio of workers vs. non workers, the workers not working strong jobs and the retired needing a lot, this should be considered.......
I have a certain notoriety among the lesser gods........

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SteveFoerster
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Re: "America’s Achilles’ heel " - Spengler's warning.

Post by SteveFoerster » Mon Aug 27, 2018 12:36 pm

lzzrdgrrl wrote:
Thu Aug 23, 2018 9:15 pm
America's Achilles' heel is our demographics...... and complacency:
Except in Africa and South Asia, the world’s population is aging rapidly. Between 2010 and 2050 the proportion of Americans over 65 will nearly double assuming constant fertility and immigration. By 2034 the Social Security Trust Funds will be depleted.1 By that time there will be two Americans over 65 for every five Americans of working age; if the government taxes earnings on a pay-as-you-go model, the burden on working Americans will be insupportable. The average American family has saved only $96,000 for retirement; more pertinent, the median family has saved just $5,000
https://americanaffairsjournal.org/2017 ... ings-trap/
Thank goodness for immigration! The more the merrier!
Writer, technologist, educator, gadfly.
President of New World University: http://newworld.ac

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