We Needed The Wall Street Journal to Tell Us this?

Is the date this was published a clue?

Short answer... No. The governments current emergency fix,,, printing billions in paper currency backed by selling debt we already owe to foreign countries isn't going to help in the long term either. Now they are going to take over total regulation of wall street and the banking industry. Anything the government takes over becomes mired in triplicate. Does anyone seriously believe that the problem is the solution?

No scot, it's a serious article.

I don't intend to retire, not because I enjoy being a galley slave, but because I don't think I'm going to be able to afford it.

Happened to a friend of mine who retired from the telecom industry. He was in very good shape, then that little thing with Tyco and Kenny-Boy Lay and a few other firms happened and he saw almost 1/2 his nest egg evaporate overnight. Now, if you're young, the Market will probably recover in time for you to retire, but if you've already retired and it suddenly seems like you're only going to be funded till you're 70 instead of 90....

It could be considered a "joke", but it's a cruel one at the expense of the lower middle/upper lower classes.

The problem is, of course, that Wall Street has been yelling for years that there is too much regulation. "Forget the regulations. We're perfectly capable of policing ourselves," they said. So the government dutifully let the reins loose. And you can see what the result is.

The fact is, Wall Street is incapable of policing itself. if it's a question of Greed vs the Public Good, greed will out every time.

There was a reason for many of these laws and regulations. Nothing that has happened recently is new; it's all happened before. But the Wall Street Wazirs decided that the regs were simply too restrictive: the amount they could steal from the public was limited.

The problem isn't necessarily the regulations: someone has to take charge and verify that there is a free and open market. The problem comes in their implementation. This administration has proven that, regardless of how good an idea they have, they will find the absolutely worst way to carry it out.

Good post, Nick_D;

Ans. to question: No, I'm not surprised. I howl every time a politician floats a trial balloon about raising the minimum SS retirement age...as if jobs are plentiful. Let them raise it to 90, if they think that helps...what'll happen: more people on unemployment because they can't find companies that hire geezers, and more people over 55 on disability because they CAN'T work, period.

I think the headline is purely for entertainment purposes !

Most folks will hit age 66 or 67 and retire. The reason, they will not be wanted in the work place because they are "too old" and can't keep up. They will also realize, "hey, I am done with this crap and I am getting out now while I still can"..

These folks will more likely than not, bitterly complain the government isn;t doing enough for them. Just like they complained while still working.

..they'll complain because there house is under valued

..they'll complain because the home equity loan is called, to make up for the lost value of the house

..they'll complain about gas prices

..they'll complain because Medicare is to expensive. It will cost $120/mo instead of $30/mo etc

But most of all ..they'll complain !!!

What a bunch of "tired ass complainers"..!!

When or will, they take responsibility for their own future and stop over indulging in the "I want it now life style"..? Most wont...they would rather complain.

Yes ..the headlines are entertaining "to me"..! I knew the government and all the talking heads would end up saying " I lied and you believed me ..and it won't do any good to complain"..

So ..I told them all to "go phuck a duck" and have taken very good care of my retirement. I will not be a casualty ..because I believed none of them.

Instead ..I did the math ..saved a ton of money ..i will collect "all" my social security dollars ,,and I retired early at age 55 ...

Oh by the way .."it's a piece of cake to retire early"..!

Why are you all waiting and worrying ?

PeeEss ...As Mr. President WhiteManitou would say "Ole Froggy made some wise investments and savings choices"..