I think I will be fine financially in retirement. I'm planning, saving and paying attention. However, I see a lot of dark clouds on the horizon.
I just read some Wall Street Journal articles on Bush's budget proposal. He's talking about cutting entitlement programs that benefit the poor and elderly (that's cold, man) while raising the budget to fund the war. I think this is the sign of things to come. If we aren't paying for the war, we will be paying to finance/pay down the debt while funding the ballooning entitlement programs.
I see pensions in the public and private sector that can't be sustained. Medicare benefits that are going to balloon. A huge trade and domestic deficit, negative savings rate, flat/inverted yield curve, high energy costs, a cut back in consumer spending, a war with no short term end in sight, and a housing bubble.
The yield curve and housing bubble are not just happening in America.
Am I being pessimistic or does it really seem probable that we are heading into economic hardships ?
Should I start my own Madam Cleo Economic hotline ? I really see trouble ahead.
-helen
I just read some Wall Street Journal articles on Bush's budget proposal. He's talking about cutting entitlement programs that benefit the poor and elderly (that's cold, man) while raising the budget to fund the war. I think this is the sign of things to come. If we aren't paying for the war, we will be paying to finance/pay down the debt while funding the ballooning entitlement programs.
I see pensions in the public and private sector that can't be sustained. Medicare benefits that are going to balloon. A huge trade and domestic deficit, negative savings rate, flat/inverted yield curve, high energy costs, a cut back in consumer spending, a war with no short term end in sight, and a housing bubble.
The yield curve and housing bubble are not just happening in America.
Am I being pessimistic or does it really seem probable that we are heading into economic hardships ?
Should I start my own Madam Cleo Economic hotline ? I really see trouble ahead.
-helen