I Told You So! Of Course Washington will Steal Your Retirement Benefits

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12-6-2012 | Ron Holland



Today the twin fake memes of a "Fiscal Cliff" and "Austerity" are combining to create a contrived excuse to tax and steal far more of your wealth and income, including your retirement benefits. The press is filled with articles and editorials like one recently at CNBC entitled "Amid Tax Talks, a cry of 'Save My 401(k)'."

Many retirement, offshore and political experts including Jeff Berwick, Larry Grossman and others are now warning how government revenue needs and austerity measures by the Obama Administration today threaten the private retirement system and benefits of millions of successful Americans. Back on January 28, 2010 I wrote a report entitled "The Coming Obama Retirement Trap Has Started," published at LewRockwell.com, republished in its entirety below, for your review.....


(Excerpt)

The Daily Bell - I Told You So! Of Course Washington will Steal Your Retirement Benefits

 

[rightwinger]

I missed the part where he is stealing our retirement funds

 

[waltky]

`Specially when car an' furnace repairmen gougin' old people on repair bills...

3 Out of 4 Investors Think We're Headed for a Major Retirement Crisis
September 16, 2013 — Pessimism regarding the retirement future for Americans is growing.

Nearly three-quarters (73%) of investors believe "the U.S. is headed for a major retirement crisis in the next 20 to 30 years that will result in large populations living at a far reduced standard of living, or at the poverty line." And the Wells Fargo/Gallup survey says four in 10 non-retired investors (41%) say they are "extremely" or "very worried" about another global financial crisis in their retirement years, surpassing concerns about having a lower standard of living (28%), running out of money (26%) or having to work in retirement (25%).

More than two-thirds see a "slow" or "non-growing" U.S. economy to be the norm for the balance of their lifetime. "Over the summer, investors watched rising mortgage rates, a volatile stock market and stubborn unemployment figures – all of which understandably impact optimism," says Joe Ready, director of Institutional Retirement and Trust at Wells Fargo. "What is so striking to me is the fact that five years after the market collapse, non-retired investors harbor significant concerns about a repeat financial crisis. The past continues to color their view of retirement, and whether the stock market is a place where they can invest and grow savings."

A majority (69%) of investors say this year's stock market increases do not make them any "less fearful about sustained losses" if the market were to fall similar to the 2008-2009 downturn. Fifty-nine percent of retired and 51% of non-retired investors say they haven't seen a "noticeable increase" in their retirement account values as a result of recent stock market advances.

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