The Baby Boomers are retiring at a time when the nation is at the brink of the second Great Depression...?

and at a time when medical costs are already unaffordable and continue to skyrocket. Should bush's 7-year recession slide into a full-blown depression in his last year, what kind of civil unrest can we expect to see in this country already bankrupted by reagan/bush I/bush II's runaway deficit spending?

Public Comments

1. perhaps baby boomers should have properly planned for the retirement and not solely planned to rely on SS.
2. No. A bit dramatic aren't we..
3. We are no wear near a depression.
4. Um so you want what? The boomers to not become of retirement age. And why shouldn't they collect the Social Security they have been paying into? That is what it's there for. Also it isn't their responsibility that the government used SS for a petty cash drawer. Not the whole generation is retiring. There are some with 20 good working years left. Medical cost are rising. So is everything else. Depression. Probably not. But it could get tough. Are you prepared? What are you doing about your retirement?
5. First off, Bush has had no where near a "7 year recession." Secondly, consider the events that have taken place during his terms - the events of 9/11, the dot com collapse, the housing refinance scandals, world com and Enron corruption and final demise, the war on terror and energy and health costs. Is it no wonder that this series of events have finally come to haunt us? I find it rather incredible that our economy has been as resilient as it has given these circumstances. As far as Social Security - this looming crisis didn't float to the surface in the last several years - it's a serious concern that has been side stepped constantly by our representatives because of the negative political back lash inherent with any suggestions to mess with the system at all - even if it is a sincere and genuine effort to try and salvage the system.
6. Don't be so dramatic. I am sure the Fed will do what it can to avoid that, but markets aren't rational, so you never do really know. Many central banks are holding a lot of our dollars despite the fed's soft monetary policy. Let's hope they manage a soft landing. I would be happier if these fiscal deficits got a lot smaller, and it's not like I don't worry about the monetary policy a little, and it's not like investors don't worry too, but... the sky is not falling just yet. Welcome to the recession, and let's hope it doesn't turn into weak growth, rapid inflation, or a run on the dollar.
7. You left out the collapsing US dollar and the ever rising price of fuel, not to mention the insane amount of debt the US economy is carrying. Itz Coming Alright..... So what kind of zaniness can we expect? Well I see two major kinds. The first is going to come from sheeple like the fools who've answered here already. When they realise that they've been being deceived, they're going to be angry. They're going to go into the streets and under the guise of "protest", they're going to act out. It will be noisy and chaotic but not especially violent. I see a lot of minor rioting accompanied by vandalism of corporate property and small-scale looting. So much for the first stage; it will be handled fairly easily by local police forces. The second stage is going to be a lot nastier. Like all multicultural societies, the internal peace of the US is fragile; in our case it depends on a continous stream of money to lubricate the friction. When the cash flow is interrupted, things are going to start getting tense, fast. When you consider how violent some of the tribes in the US are right now, at the end of the longest period of prosperity in human history, it boggles the mind to imagine how out of control they're going to get when they're ACTUALLY HUNGRY!!! Inevitably, one of the major side effects of this is going to be large-scale ethnic violence. I know this partly because I know the streets, but also because as a lifelong student of history, I know multicultural societies always, repeat ALWAYS, disintegrate into ethnic violence when they come under stress. Multiculturalism only ever works in times of peace and prosperity when there's plenty for everyone. As soon as any of these conditions change, people revert to their tribal identities and the ancient struggles of the tribes begin again.... America today is a giant Bosnia waiting to happen. Barrow-Wight