From Tourist to Future Resident

[bigbadwolf]

As for what is getting worse in the US that affects senior citizens, the main thing is surely the economy. Today’s Washington Post, a pro-Obama paper, reports that REAL unemployment is 17.5% http://voices.washingtonpost.com/ec...er_us_unemployment_rate_hit.html?hpid=topnews

The NYT had the same figure today (Saturday). Of course other commentators have been saying the same thing for over a year now (i.e., that reported unemployment is a gross understatement).

If their investments lose their value, if Social Security does not keep up with inflation (there are no increases for this year or next on the grounds that there isn’t sufficient inflation – a lie), if the dollar loses ground against the peso, these people will not be able to have the comfortable life they are expecting in Argentina.

Inflation has been underreported for decades now -- simply to keep down the "inflation-adjusted" social security payments. In addition, it appears that Medicare is going to suffer draconian adjustments under what is euphemistically referred to as "healthcare reform."

In the medium term it is expected that the dollar will lose ground against other currencies and its losing its role as global reserve is being animatedly discussed by economists and bankers. For rank-and-file Americans, life is going to get harder, meaner, rougher, more brutish.

 

[bigbadwolf]

An article in the WSJ on proposed cutbacks in Medicare. The WSJ is a Murdoch rag and its bias is evident but if this article is even remotely close to the truth, it spells bad news for most of us -- not just the elderly.