muses of the moment

August 29, 2012

Just rumors….

Filed under: Bailout Nation, European Debt Implosion, The Banking Crisis — totallygroovygirlfriday @ 3:27 pm

This is just a RUMOR, so take it just as that. Click here.

Side musing: any bank that has exposure to Europe is vulnerable. There is a reason the European Financial Leaders are skipping Jackson Hole.

Bill Moyers

Filed under: Odds 'n ends — totallygroovygirlfriday @ 10:52 am

Bill Moyers had an interesting show last week on Nuns on a Bus, the Catholic nuns that traveled by bus¬† to protest against Paul Ryan’s proposed budget. Although, groovygirl disagrees with alot of ideas in this segment, she thought the discussion about the poor in America was excellent.

Click here for full video or portions of the hour-long show.

I think one thing we can agree on is that the War on Poverty is not won. And during this economic crisis, it will only get worse. Regardless of what government does or doesn’t do about meeting the needs of the poor (that is politics), everyone has an obligation as a human being to aid in the struggle at the level he/she is able.

Poor and middle class people give a higher percentage of their income to charity than rich people. Although rich people give a higher dollar amount. But it is the percentage that reveals the heart, not the dollar amount. I believe the reason for this phenomenon is that poor and middle class either have been poor at one time or see the poor struggling on a day-to-day basis.

And who says you have to give dollars…give food, time, energy, compassion, a listening ear….

Groovygirl hates reality TV. However, she would be willing to rescind her contempt, if……there were a show where politicians and appointed government officials had to disguise themselves and live on the street/shelter as homeless Americans. (Like the Undercover Boss show.) Groovygirl bets that if that were to happen, homeless shelter and food programs would not be cut. (Oh, and make sure they have to take care of a couple of kids under 10, too.)

gg personally thinks this should be a requirement for public office. Just my two cents.

The Retiree

Filed under: 401K and IRAs, Economic Crisis — totallygroovygirlfriday @ 1:43 am

Here is another good article on the demise of the US pension plan, this one from Automatic Earth. Retirement planning as we understand it is gone, but there will not be an announcement or education program to alert you to this demise.

The collapse of the pension plan was inevitable, despite the current financial crisis. Pension plans (private and public) are designed with two main imaginary assumptions: every generation is larger than the previous generation (like the baby boomers) and investments make at least 3-4% over the real inflation rate every year. And that is why pension plans, social security, and 401ks are at the least, overly optimistic, and at the worst, a ponzi scheme. This system doesn’t even take into consideration the devalue of the USollar or the rise in taxes.

groovygirl is very concerned about those people over 45 that are now or will be dependent on these systems for their survival. Even if they understand the collapse of the retirement systems, they have very little time to do anything about it. However, every step to save money outside these systems is better than no action at all.

Blog at WordPress.com.