2016 Postmortem

arikara

(5,562 posts)

35. Many retired or just about to retire people lost big in the 2008 crash

Sat Apr 16, 2016, 03:48 PM

Apr 2016

And it didn't hit just lower income people. One example, a local doctor who had just retired had to go back to work. At least she was able to do that, a lot of retired people are aged out of the job market except for maybe daytime in MacDonalds. A friend who had her money in precious metals lost 80%, she still had a mortgage so she wound up selling and moving out of town.

Maybe you had a bit more sense than me when you were 25, but at that age I couldn't conceive of getting old enough to retire, let alone think about investments. Not only that, but I was a single parent and basically lived paycheck to paycheck anyhow.

Once they start messing around with social security, it is the kiss of death for it IMHO. And the ones who mess around with it don't care in the least because they have theirs.

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Bill Clinton was going to privatize Social Security until, uh, Fate stopped him. [View all] Octafish Apr 2016 OP

sloppy first attempt reddread Apr 2016 #1

CIA, Nixon, Kissinger & Chicago Boys privatized social security in Chile Octafish Apr 2016 #3

Everyone should read up on 'The Chicago Boys'...it's important. haikugal Apr 2016 #11

Much of what gets decided economically & politically, not just national defense, gets done in secret Octafish Apr 2016 #37

Read Naomi Klein's "Shock Doctrine" for one. jwirr Apr 2016 #46

Yes that's a good one... haikugal Apr 2016 #49

Agreed! The Shock Doctrine Treatise treats This Nonsense Well...So If the Other Night's Festivities CorporatistNation Apr 2016 #58

You know who HATES Naomi Klein? Octafish Apr 2016 #89

And there is no sane or valid reason to believe Hillary wouldn't do this. With the happy djean111 Apr 2016 #2

Pete Peterson certainly seems interested in her political career. Octafish Apr 2016 #18

I wonder if openness to privatizing SS Califonz Apr 2016 #92

That would sure as hell piss me off if true. Jackie Wilson Said Apr 2016 #101

in case you bernie people missed it.. chillfactor Apr 2016 #4

The desperation is at freeper levels now workinclasszero Apr 2016 #6

Yes it is. Popegate has caused many Hillarians to lose their shit lately. cui bono Apr 2016 #56

And Hillary had no influence on public policy. chascarrillo Apr 2016 #14

History is important - We sure as hell don't want a repeat of a CLinton Admin Ferd Berfel Apr 2016 #17

+10 appalachiablue Apr 2016 #99

We are not the ones grasping at straws. Those who do not remember history are doomed to djean111 Apr 2016 #20

In case you missed it -- Hillary said Bill would be a trusted economic advisor Armstead Apr 2016 #53

No however he did call Hillary his co-president are you saying she will not reciprocate? azurnoir Apr 2016 #93

You sure you want to use CounterPunch as a source? workinclasszero Apr 2016 #5

Ideas don't scare me. Octafish Apr 2016 #10

Another excellent OP full of facts and history, thank you and K&R /nt Dragonfli Apr 2016 #7

The Pact Between Bill Clinton and Newt Gingrich Octafish Apr 2016 #32

Thanks again for expansion of the truth, I love when you respond that way /nt Dragonfli Apr 2016 #33

when social security is tossed on the bonfire reddread Apr 2016 #8

I tried to GOOGLE that once. Octafish Apr 2016 #34

They will eat it up. BlindTiresias Apr 2016 #80

Oh so that's what they mean by incremental change! I thought that's what I've been experiencing highprincipleswork Apr 2016 #9

The Shocking Redistribution of Wealth in the Past Five Years Octafish Apr 2016 #95

K&R! Another big thanks! haikugal Apr 2016 #12

That's a boldface lie ... Onlooker Apr 2016 #13

''Erskine, I want you to know that this story is not true.'' -- Bill Clinton Octafish Apr 2016 #31

K and R! The truth needs to be known. bbgrunt Apr 2016 #15

''What would GOLDMAN think?'' -- Larry Summers Octafish Apr 2016 #40

And poor Monica paid a very high price arikara Apr 2016 #16

Thank you, arikara. Hers is an outstanding presentation detailing cyberbullying... Octafish Apr 2016 #23

I agree that the media treated her horribly. And her friend betrayed her. Gomez163 Apr 2016 #26

Thank you so much for posting that... TeeYiYi Apr 2016 #38

That was a good talk... ljm2002 Apr 2016 #105

Kick, and keep kicking! ViseGrip Apr 2016 #19

Larry Summers and the Secret ''End-Game'' Memo Octafish Apr 2016 #45

K&R. I remember hating the "New Democrats" at the time Overseas Apr 2016 #21

Invisible War by Economic Fascism Octafish Apr 2016 #48

I am definitely war weary. So many of us are. That explains a lot of Bernie's surge. Overseas Apr 2016 #76

For those reasons, I think Bernie's gonna win. Octafish Apr 2016 #77

K&R. Beautiful video message! Overseas Apr 2016 #78

Isn't that cool? Octafish Apr 2016 #79

Yes! I'm gonna watch it again! Overseas Apr 2016 #84

K&R for the Salon list too. Overseas Apr 2016 #81

I don't understand the problem of privatizing Social Security WhenTheLeveeBreaks Apr 2016 #22

Next time the stock market crashes and doesn't wipe out your retirement, you'll understand. Octafish Apr 2016 #25

My calculation is different from yours WhenTheLeveeBreaks Apr 2016 #30

Thank you for explaining in detail. My concern regards the same US government. Octafish Apr 2016 #36

I asked the question after 2008 if SS had been privatized, how much of the Trust Fund would have Samantha Apr 2016 #41

Many retired or just about to retire people lost big in the 2008 crash arikara Apr 2016 #35

I don't think the correct term is "privatized" WhenTheLeveeBreaks Apr 2016 #43

Then why change it? arikara Apr 2016 #50

Okay. But answer me one question: The markets crash and jwirr Apr 2016 #47

So wall street can take 30% of it like they do with healthcare? Doctor_J Apr 2016 #52

That article doesn't even go far enough on Bill Clinton and SS privatization BernieforPres2016 Apr 2016 #24

Bill and Newt came to a working ''Agreement''... Octafish Apr 2016 #61

Bill Clinton was and is a scumbag on so many levels. Arugula Latte Apr 2016 #27

UBS Wealth Management Octafish Apr 2016 #97

This is worth another kick and a special request blast from the past with a message. bobthedrummer Apr 2016 #28

Love that song! vintx Apr 2016 #42

The Lies of Neoliberal Economics (or How America Became a Nation of Sharecroppers) Octafish Apr 2016 #63

Old blue eyes in that context and picture, Sir, made me laugh albeit knowingly-thanks bobthedrummer Apr 2016 #85

White House dining companion with the late First Lady Nancy Reagan. Octafish Apr 2016 #86

Instead we've got perception manager George Stephanopoulos, and the Pentagon Entertainment Network bobthedrummer Apr 2016 #87

yes, and did not know that he continued Reagan's plan to means test it w/ heavy taxation: amborin Apr 2016 #29

One's gotta be a lawyer and a CPA to understand all the stuff -- except the politics. Octafish Apr 2016 #67

K&R nt magical thyme Apr 2016 #39

Is Hillary open to Raising SS Retirement Age? Octafish Apr 2016 #88

I believe she's also open to making it means-based magical thyme Apr 2016 #90

Monica Lewinsky is a true American hero for saving SS! jfern Apr 2016 #44

we are not in their club SoLeftIAmRight Apr 2016 #51

It is undemocratic, to include those with money and exclude those without it. Octafish Apr 2016 #96

This is like the Weekly World News thread MattP Apr 2016 #54

Please feel free to post the first thing you find in error. Octafish Apr 2016 #65

HRC Is Owned By The Oligarchs, Corporations And Banks - Make No Mistake About Her Loyalties cantbeserious Apr 2016 #55

Neil Barofsky Gave Us The Best Explanation For Washington's Dysfunction We've Ever Heard Octafish Apr 2016 #103

Clinton was talking about using the budget surplus, investing a small portion in the private sector BlueStateLib Apr 2016 #57

That would have been great. Octafish Apr 2016 #100

K & R AzDar Apr 2016 #59

This message was self-deleted by its author silvershadow Apr 2016 #60

Shit article, opens with slut shaming the victim. Will not read past that. apnu Apr 2016 #62

Guess you miss out on a lot of stuff that's important to learn. Octafish Apr 2016 #64

I don't need to learn it, I lived through it. apnu Apr 2016 #66

No, you got a lot to learn*. Octafish Apr 2016 #68

Yes you do. apnu Apr 2016 #69

Show where, otherwise that's just your smear. Octafish Apr 2016 #70

Read my original post. apnu Apr 2016 #71

Manufactured outrage from you doesn't change the facts, though. Octafish Apr 2016 #72

You can't figure it out on your own? apnu Apr 2016 #73

None of that is slut shaming, though, is it? Octafish Apr 2016 #75

Hilarious BlindTiresias Apr 2016 #82

K&R for an important subject. senz Apr 2016 #74

No surprise given the other crap he pulled Ferd Berfel Apr 2016 #83

I had totally forgotten that. Let's hear it for Monica! Vinca Apr 2016 #91

So in a sense, I was saved by a cigar. JustABozoOnThisBus Apr 2016 #94

What a bunch of bs. nt BreakfastClub Apr 2016 #98

bump silvershadow Apr 2016 #102

Hillary is going to come in and finish the Job! WDIM Apr 2016 #104

Kick! senz Apr 2016 #106