Do we need low interest rates?

[macdon02]

Has 95 become the New 65 for Retirement?

Blog/America's Economic HistoryPosted Jul 22, 2018 by Martin Armstrong

One of the more interesting downsides of the collapse in socialism is the impact upon the elderly. The data now shows that since the 2007-2009 recession, about twice as many elderly are still working. When interest rates decline,*income from savings collapsed. So while the theory was to lower interest rates to “stimulate” the economy, the central banks have discovered a dark hidden secret — demand-side economics has utterly failed. Saving for retirement has failed. Your house has failed to provide a savings account and states are broke so they keep raising property taxes. Government pensions keep demanding higher taxes to exploit the public so government unions survive. In many states, the promises handed to union workers are bankrupting everything as one of the main benefits was free healthcare for life for the members and their spouses.

Today, a record number of folks aged 85 and older are still working. Most are just trying to supplement losses from tax increases and decreased interest income. States make no accommodation for people when they retire. The property taxes keep rising and that is forcing many to sell their homes even in down markets to try to make ends meet. The youth are finding that their degrees are worthless. More than 60% cannot find employment in what they have worked to get a degree in these days. Even those with a law degree are often waiting on tables. When I was looking for office space in Florida, nearly 100% of the vacant spaces were former law firms. So 85 may be the new 65, but it appears that might*be 95. Justice Kennedy is 81 so even he did not retire at 65. As the*Washington*Post*reported,*some 255,000 Americans who are 85 years old or older were working over the past 12 months.


My biggest fear is instead of 30 yr olds living with their parents.... the parents would be living with the kids. I present this as opinion not fact. Copy and paste should be presented as nothing less then opinion imo

[AlbertaFarmer5]

My biggest fear is instead of 30 yr olds living with their parents.... the parents would be living with the kids. I present this as opinion not fact. Copy and paste should be presented as nothing less then opinion imo

WHy would that be a feared outcome? Hasn't that been the the way humanity has looked after their elderly since the dawn of time? Isn't that preferable to institutionalizing them, or expecting the state to look after them?

[grassfarmer]

WHy would that be a feared outcome? Hasn't that been the the way humanity has looked after their elderly since the dawn of time? Isn't that preferable to institutionalizing them, or expecting the state to look after them?

I agree. Based on an experience with a relative those big "retirement community" apartment businesses are terrible. When an elderly person has to deplete their substantial life-time savings over a few short years to pay astronomical monthly rates with the promise of great care when the person really needs it - until, as in our case, the person gets into the advanced stages of Alzheimer's and they get asked to leave as they have become too hard to handle - so they finish up in a hospital bed paid for by the taxpayer while the apartment owner moves a new pensioner into their room to start the process over.

[farmaholic]

Some cultures have three generations living in the same home.
Kids, parents and grand parents. What's wrong with having a situation where the kids are cared for by grandparents while the parents are at work and as the grandparents age they're looked after by the grandkids until the parents get home from work?

People don't want to "sacrifice" their "lifestyle" for such an arrangement...but they'll line up for their "inheritance"!

[macdon02]

Some cultures have three generations living in the same home.
Kids, parents and grand parents. What's wrong with having a situation where the kids are cared for by grandparents while the parents are at work and as the grandparents age they're looked after by the grandkids until the parents get home from work?

People don't want to "sacrifice" their "lifestyle" for such an arrangement...but they'll line up for their "inheritance"!

How's this work with a birthrate of 1.6 kids per woman. A divorce rate of 50%+, and women financially, are required to work in a marriage? Mom and dad that need help in the bathroom and just with simple day to day "living"? It'll be a massive ripple through society as an entire generation finds their life savings evaporate. They'll riot. The transition will be horrific. I'm not saying it's a bad way to live but can the average Joe and his wife, working 40 hours a week, support 1 or 2 kids and 4 parents that'll live into 90's? Imo the birth rate will have to go up, the couple will have to make due on 1 income and most likely women will give up their independence in exchange for full time caregiver role. Some will be fine with it but the others will balk. What's the number on insolvency and leftover income per month now? 50% with less then $200 month end? How's it work?

[farmaholic]

My Utopia would of had mom and dad still working while retired healthy grandparents were looking after the young kids...as the kids grow up the caregiver roles would be somewhat reversed. It definitely isn't that easy or would it be easy.

Instead of intergenerational wealth being sunk into "retirement" homes it could stay with the family.

It will never happen in this day and age...not that it isn't somewhat possible...few will ever choose it as an option.

[Guest]

My Utopia would of had mom and dad still working while retired healthy grandparents were looking after the young kids...as the kids grow up the caregiver roles would be somewhat reversed. It definitely isn't that easy or would it be easy.

Instead of intergenerational wealth being sunk into "retirement" homes it could stay with the family.

It will never happen in this day and age...not that it isn't somewhat possible...few will ever choose it as an option.

Thats how it works in cuba

[farmaholic]

Thats how it works in cuba

Don't the Chinese do some of that too?

Likely only the affluent and opulent would never consider it.
I guess if there is a choice why would you want to....maybe it isn't a choice in some countries....

Canada = cradle to grave socialism...it may not be a good life living on the system but you'll never be kicked to the curb...unless you want to be there.

[farmaholic]

Our social structure is ****en broken....even worse our family structure is broken....what would be wrong with one parent staying home and raising the kids. But we throw them in some ****en daycare from where they come home sounding and acting like their "caregivers". How many waking hours a week do these impressionable little people see their biological parents?

There needs to be an economic reset for more than one reason.

1.6 kids...**** me.

Everybody wants everything today...young adults buying and trying to pay for homes their parents only hoped to retire into! How do you pay for that? What's next a whole generation of DINK families... "dual income no kids"

Our Western society is a ****en victim of it's own "success"...SARCASM

[grassfarmer]

Don't the Chinese do some of that too?

Didn't everybody do it this way up until the 1980s or 1990s? My last remaining grandparent lived with us in the early 1980s and I'd assumed it was the same in Canada? You don't see many old retirement apartment complexes.

[Partners]

The older generation was also poor compared to The now generation.
Yes no care homes back then..now we can afford not be be a burden on our kids and grand kids.
Both husband and wife have good jobs now..compared to the none educated women back then..
What ever floats your boat I guess.

[AlbertaFarmer5]

If we all knew that We can't count on socialism to provide cradle-to-grave care into our old age, we might have more kids, and raise them better?

[sumdumguy]

Our social structure is ****en broken....even worse our family structure is broken....what would be wrong with one parent staying home and raising the kids. But we throw them in some ****en daycare from where they come home sounding and acting like their "caregivers". How many waking hours a week do these impressionable little people see their biological parents?

There needs to be an economic reset for more than one reason.

1.6 kids...**** me.

Everybody wants everything today...young adults buying and trying to pay for homes their parents only hoped to retire into! How do you pay for that? What's next a whole generation of DINK families... "dual income no kids"

Our Western society is a ****en victim of it's own "success"...SARCASM

Who would rather have junk rather than raise their kids ? Guess some do need ‘stuff’ but there are lucky kids who have loving moms at home when they walk in the door! IMHO

[grassfarmer]

The older generation was also poor compared to The now generation.
Yes no care homes back then..now we can afford not be be a burden on our kids and grand kids.
Both husband and wife have good jobs now..compared to the none educated women back then..
What ever floats your boat I guess.

Poorer in $ terms maybe (and that's a big maybe given debt levels today) but were they poorer societally, contentment wise or in terms of family relationships?

[RTK]

Gentpeople we have bigger problems to concern ourselves with than the family unit and how we create economically viable families raising productive kids.

We need an education system that focuses on ensuring our kids learn absolutely nothing and everyone passes regardless of knowledge, effort or attendance.

We need kids sports that performance is not recognized - keeping score can hurt feelings and kids may not try to improve themselves.

We need safe injection sites so we can safely get drugs to our kids - natural selection is unfair.

We need to legalize a gateway drug - this is important to save our kids.

We need to create tougher drinking and driving laws because we have to stop the folks that are responsible and knew that one or two drinks was fine to consume and drive home knowing you were under .08.

We need to protect criminals from dangerous farmers protecting there families and homes.

The RCMP and store clerks are all racist.

We have to ensure all kids remain in the loving homes of “dead beat” useless parents.

We have an unknown number of genders that have to be celebrated and likely should have a special place in our society and likely there own bathroom in all public buildings.

We have to focus on gender representation and not the best person for the job.

We have a carbon tax to get in place to save the planet one tax dollar at a time....

We need to waste tax dollars daily; to build temporary rinks; pay terrorists; educate women in other countries; jet around so we can show off our costumes.

We need to applaud all “me too moments” because women are not able to recognize and put a stop to idiots trying use power or position to compensate for that individuals lack of something. Unless you are a PM then we all need to learn that an inappropriate action can be viewed differently by a women and men.

All this and more and you are worried about how everyday Canadians can live a productive; fulfilling life; raise a family; retire and have a graceful final stages of life.