Demographics (Baby Boomers)

RonMN · Posted: Tue May 24, 2005 7:12 pm Post subject: Demographics (Baby Boomers)

I heard a statistic that when Social Security was formed...there were 15 workers for every 1 retiree.

I've also heard that currently there is 7 workers for every retiree.

And within 3 years there will be 2 people working for every 1 retiree.

Shocked

So why are they talking about SS going bankrupt in 2057 ??? (Rhetorical)

frankthetank · Posted: Tue May 24, 2005 8:14 pm Post subject:

I also see another potential problem (like there aren't enough already) of boomers pulling money out of the markets when they hit 59.5. I would guess this would push markets lower if more money doesn't come in (BUSH's plan for youngsters not passing).

I work with the elderly population and am amazed at the amount of care given to them (not that they don't deserve it/pay for it), but see my future VERY unlike the one they have!

Isn't the problem Medicare more so then SS?

Jack · Dark Lord Joined: Aug 11, 2004 Posts: 4978

RonMN · Posted: Wed May 25, 2005 3:55 am Post subject:

so in 3 years we have the first "large wave" of baby boomers reaching retirement age...we're facing crushing economics in social security, medicare, medicade, massive gov't debt & twin deficits, massive consumer debt, a declining dollar, rising fuel costs, peak oil, a seriously degraded environment, over population, wars on (atleast) 2 fronts, another huge hurricane season has been predicted for this year...

Have i missed anything? any killer asteroids headded our way? H5N1 pandemic?

Raxozanne · Posted: Wed May 25, 2005 4:19 am Post subject:

This is another short coming of our fantastic system.

You see the system assumes that population will grow forever just as it assumes that wealth and economic growth will go on forever.

The system is a blind sighted fool. Who made up such a STUPID system? That's what I want to know.
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Hello, my name is Rax. I live in the Amazon jungle with a bunch of women. We are super eco feminists and our favourite passtimes are dangling men by their ankles and discussing peak oil. - apparently

Doly · Expert Joined: Dec 03, 2004 Posts: 4031

The system was made by politicians that only had to worry about the next 4 years.

RonMN · Posted: Wed May 25, 2005 6:07 am Post subject:

There is a part of the system that "they" don't tell you about. It's a growth-crash-growth cycle. They know that growth cannot go on forever. It must be continuous growth until the tipping poing - crash & die-off...then start the growth cycle all over again. The cycle repeats itself but those who don't learn their history are doomed to repeat it.

Jack · Dark Lord Joined: Aug 11, 2004 Posts: 4978

RonMN · Posted: Wed May 25, 2005 8:20 am Post subject:

Happy? no. I just needed to rant. Sometimes it all seems so friggin hopeless.

THANKS for listening Smile

linlithgowoil · Posted: Wed May 25, 2005 8:44 am Post subject:

im from UK and we'll soon have 2 workers for every 1 non worker. people of my mum and dad's generation are all going into retirement now, and many of them are actually going to have a very, very low income in retirement, but a paid off house. thus, there will be a huge loss of money moving around the economy, as these people wont have any money to spend.

also, the average UK person now isnt paying into a pension - because a) no one trust them anymore and b) no one can afford it anymore. no one i know of has any spare money AT ALL at the end of the month. They are always deep in overdraft, the credit cards never seem to reduce, the bills go up, there's always 'something' that needs to be bought, fixed, renewed etc. etc. etc.

so - there is a massive amount less going into savings and pensions now.

i just cant believe the government of the UK though - 'you all need to save 10 times more than you are!!' How the f**k can anyone do that when incomes are dropping, bills are skyrocketing, and housing costs are astronomical?

Also - if people really did start cutting back massively, there'd be a massive outcry by retailers telling us all to spend more.

What the f**k is going on? People spend a lot, they complain, they stop spending, they complain. F**K OFF!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

kochevnik · Intermediate Crude Joined: Aug 20, 2004 Posts: 881

aahala · Intermediate Crude Joined: Feb 03, 2005 Posts: 954

RonMN · Posted: Wed May 25, 2005 2:13 pm Post subject:

If i remember my grade school history correctly i believe it was alexander hamilton that created our financial system. So we can all blame him Razz

Not that it would do any good...the dude's been dead for quite a while now.

Think the UNthinkable...back then, with uncountable resources, somebody probably said "these resources are NOT infinate"...and they all laughed & mocked & said "so what...these resources wont run out for 200 years"...well, it's been 200 years & here we are Crying or Very sad

mpg · Coal Joined: Apr 13, 2005 Posts: 17

One demographic change that doesn't get mentioned very often is the ratio between doctors and the elderly. As the percentage of elderly increase each year the amount of medical care they need will need as a group will increase. It will be very difficult to increase the amount of physicians (it takes a few years to get through the system, plenty are retiring early) Everyone else will rarely see a doctor. Perhaps we will need to import doctors to try to cope.

strider3700 · Posted: Thu Jun 02, 2005 5:36 pm Post subject:

Up here in canada we already have serious problems with shortages of doctors and nurses. Their hours are long and hard and they get great money so eventually they become like my family doctor. Not retired but on vacation 8 months out of the year. We're getting desperate for nurses but the unions do an excellent job of limiting positions in universities. Imported doctors from europe have to jump through hoops to basically do everything again.

I have a friend who's wife was a GP in romania. She came out here and did tests to be a GP here. She aced them and that was good enough to get her into a 1 year program. After doing very well there her and 3 others where selected from the 50 or so left to start a 2 year residency program where she either doesn't get paid or gets paid so little she can't get by on it. In 1 more year she can get out and be an official doctor again. She says it's a little different from romania but is nothing that requires 3 years of retraining.
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