Tuesday, July 17, 2012

Conversation with a top American academic

"As a result of the crisis which started in 2007, most of my friends have nothing left for retirement", he siad.

"So what are they going to do about life after retirement?", I asked.

"Well, we can only look to keep working till we die", he said

"But how will older folks be able to keep their jobs against competitors who are younger, more energetic and cheaper to hire?!", I asked.

Slow response: "I don't believe that any of us wants to think about that.  We can only hope ...*.
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1 comment:

Andy Crouch said...

How can this be when the S&P 500 is only down 13% from its all-time peak in 2007, and up nearly 40% in the last ten years? And when Treasury bonds have been in one of the all-time great bull markets for the last decade? This sounds like an excuse to me.