Soaring Bankruptcy Rates Signal A Coming Storm For Broke Elderly

[boedicca]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

 

[iamwhatiseem]

It's pretty simple.
Interest rates are extremely low, good for people who want to buy stuff... lousy for people who are trying to save money. Not to mention there are waaaaaay too many older folks that have mortgages.

property tax in blue states.

Nope. Medical bills.

Medical bills that have nothing to do with insurance.
The fact is, IMO, it is a crime that so many elderly are receiving "extreme care"... that is, exorbitantly expensive medicines and procedures that either only keep them alive a few more weeks... or have little chance to improve their condition if at all.
As soon as anyone has an ageing relative that gets terminally ill.... you will see a side of the medical establishment that exist only to use these people as crops to harvest all of their savings.

 

[jc456]

It's pretty simple.
Interest rates are extremely low, good for people who want to buy stuff... lousy for people who are trying to save money. Not to mention there are waaaaaay too many older folks that have mortgages.

property tax in blue states.

Nope. Medical bills.

name the states they are applying from.

 

[Penelope]

It's pretty simple.
Interest rates are extremely low, good for people who want to buy stuff... lousy for people who are trying to save money. Not to mention there are waaaaaay too many older folks that have mortgages.

property tax in blue states.

Nope. Medical bills.

Medical bills that have nothing to do with insurance.
The fact is, IMO, it is a crime that so many elderly are receiving "extreme care"... that is, exorbitantly expensive medicines and procedures that either only keep them alive a few more weeks... or have little chance to improve their condition if at all.
As soon as anyone has an ageing relative that gets terminally ill.... you will see a side of the medical establishment that exist only to use these people as crops to harvest all of their savings.

Medical bills that Medicare does not cover. I should have been more descriptive I guess.

What do you mean by "extreme care"?

 

[jc456]

It's pretty simple.
Interest rates are extremely low, good for people who want to buy stuff... lousy for people who are trying to save money. Not to mention there are waaaaaay too many older folks that have mortgages.

property tax in blue states.

Nope. Medical bills.

Medical bills that have nothing to do with insurance.
The fact is, IMO, it is a crime that so many elderly are receiving "extreme care"... that is, exorbitantly expensive medicines and procedures that either only keep them alive a few more weeks... or have little chance to improve their condition if at all.
As soon as anyone has an ageing relative that gets terminally ill.... you will see a side of the medical establishment that exist only to use these people as crops to harvest all of their savings.

Medical bills that Medicare does not cover. I should have been more descriptive I guess.

What do you mean by "extreme care"?

read

 

[Penelope]

It's pretty simple.
Interest rates are extremely low, good for people who want to buy stuff... lousy for people who are trying to save money. Not to mention there are waaaaaay too many older folks that have mortgages.

property tax in blue states.

Nope. Medical bills.

name the states they are applying from.

All over.

 

[jc456]

It's pretty simple.
Interest rates are extremely low, good for people who want to buy stuff... lousy for people who are trying to save money. Not to mention there are waaaaaay too many older folks that have mortgages.

property tax in blue states.

Nope. Medical bills.

name the states they are applying from.

All over.

blue states?

 

[skews13]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

 

[whitehall]

The study ranges from 1991 to 2016. Why publish it when the DOW is around 26,000? The crazy left is desperate to grasp defeat from the jaws of victory.

 

[Penelope]

Yeah, the ACA has done massive damage to this country, good find

You and the rest that replied to winner and funny and agree don't know anything about the ACA. Also you and them did not bother to read the article because you can careless.

 

[jc456]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

kill the country. that's your solution? wow.

 

[boedicca]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

Virtually all of those people would have been better off keeping and investing the SS taxes the paid throughout their working lives.

 

[Penelope]

The study ranges from 1991 to 2016. Why publish it when the DOW is around 26,000? The crazy left is desperate to grasp defeat from the jaws of victory.

Did you forget about the crash of 2008 and the housing bust? What does this have to do with the left? Seems Manafort might be filing bankruptcy is he has not had to already.

 

[Penelope]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

Virtually all of those people would have been better off keeping and investing the SS taxes the paid throughout their working lives.

So wall street could have their money.

 

[boedicca]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

kill the country. that's your solution? wow.

Oh, these silly moonbats think the solution to everything is to tax the rich.

Iowahawk, as usual, has the perfect take on this (very funny - worth reading the whole thing):

Seems like these days I hear a lot of whiney whiners whining about "out of control government spending" and "insane deficits" and such, trying to make hay out of a bunch of pointy-head boring finance hooey. Sure, $3.7 trillion of spending sounds like a big number. "Oh, boo-hoo, how are we going to get $3.7 trillion dollars? We're broke, boo-hoo-hoo," whine the whiners. What these skinflint crybabies fail to realize is that $3.7 trillion is for an entire year - which translates into only a measly $10 billion per day!

Mister, I call that a bargain. Especially since it pays for all of us - you and me, the whole American family. Like all families, we Americas have to pay for things - health, food, safety, uncle Dave America with his drinking problem. And when little Billy America wants that new quad runner they promised, do Mom and Dad America deny him? No, they get a second job at Circle K, because they know little Billy might have one of his episodes and burn down the house.

So let's all sit down together as an American family with a calendar and make a yearly budget. First, let's lock in the $3.7 trillion of critical family spending priorities; now let's get to work on collecting the pay-as-we-go $10 billion daily cash flow we need.

12:01 AM, January 1
Let's start the year out right by going after some evil corporations and their obscene profits. And who is more evil than those twin spawns of Lucifer himself, Exxon Mobil and Walmart? Together these two largest American industrial behemoths raked in, between them, $34 billion in 2010 global profits. Let's teach 'em both a lesson and confiscate it for the public good. This will get us through...

9:52 AM January 4
Okay, maybe I underestimated our take. But we shouldn't let Exxon and Walmart distract us from all those other corporate profiteers out there worth shaking down. In fact, why don't we grab every cent of 2010 profit made by the other 498 members of the Fortune 500? That will net us another, let's see, $357 billion! Enough to get us to...

2:00 AM February 9
So we're running out of corporate cash, but look - it's Super Bowl time! As we all know, the game has become a crass disgusting festival of commercialism. So let's take all the TV ad money spent on stupid Super Bowl ads, and apply that to government needs. That would be $250 million, enough to fund us for, let's see... 36 minutes. The half time show, at least. But why stop there? Let's take every cent of ad money spent on all 45 Super Bowls, a cool $5 billion, which would cover us until...

2:00 PM February 9...

Feed Your Family on $10 Billion a Day

 

[Toddsterpatriot]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

While many Americans confront these risk shifts, they profoundly affect older people.
Simply because of their age, this group is less able to effectively respond to the shifting risks.
Unstable employment is particularly problematic for older people. When they lose jobs, it takes
them significantly longer to find new ones and when they do, they typically earn less than what
they earned before (Hardy 2011). Retirement is a particularly precarious time of life. Full Social
Security benefits now begin at 70, rather than 65 (Ellis, Munnell, and Eschtruth 2014). The
penalty for early retirement increased from 20-30 percent (Quadagno, Kail, and Shekha 2011).

Graying of U.S. Bankruptcy: Fallout from Life in a Risk Society by Deborah Thorne, Pamela Foohey, Robert M. Lawless, Katherine M. Porter :: SSRN

What a load of crap.

Benefits Planner: Retirement | If you were born between 1943 and 1954 | Social Security Administration

 

[Penelope]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

kill the country. that's your solution? wow.

Trump is working on it.

 

[Toddsterpatriot]

Yeah, the ACA has done massive damage to this country, good find

Saw nothing about the ACA in that article, it was about senior's on Medicare.

It did specifically mention the loss of pensions. A decided Reagan era policy that is the number one reason for those pension losses.

I won't even go into the destruction of the middle class from trickle down economics that the majority of Americans recognize as the failure it is.

But we can leave it for another thread.

It did specifically mention the loss of pensions. A decided Reagan era policy that is the number one reason for those pension losses.

Liar.

 

[boedicca]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

Virtually all of those people would have been better off keeping and investing the SS taxes the paid throughout their working lives.

So wall street could have their money.

Having a stock or bond portfolio that one owns is far better than a bunch of IOUs from the government that wasted the money on crap.

 

[gipper]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

Virtually all of those people would have been better off keeping and investing the SS taxes the paid throughout their working lives.

So wall street could have their money.

W and Big Ears made sure of that.