Tuesday, February 24, 2009

Why 2008?

In all the talk about our current economic troubles, the questions occurs to me - why did things change in 2008? It's easy to just blame George W. Bush and his policies, but what else happened last year?
In 2008, the first of the baby-boomers could retire at age 62. Could that have had something to do with sending the economy down? Instead of paying taxes and putting money into Social Security, a large segment of our population began taking money from the government.
Instead of a large segment looking for investment opportunities to boost their retirement income, this group began looking to sell. And the group of buyers was smaller than it had been before.
We need to examine the looming retirement tsunami as a cause to our troubles, because it could sweep away any hopes of recovery for years to come.

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