Boomer retirement could slow U.S. recovery

chicagotribune.com ^ | Aug 22 2011

[KeyLargo]

Boomer retirement could slow U.S. recovery

CNNMoney

12:02 PM CDT, August 22, 2011

The aging of the U.S. baby boom generation may slow an already weak recovery as boomers sell stocks to pay for retirement, according to research released Monday from the San Francisco Federal Reserve Bank.

Many baby boomers have already sold some assets in preparation for retirement, research adviser Zheng Liu and Mark Spiegel, vice president of economic research, said in the latest San Francisco Fed Economic Letter.

[KeyLargo]

In my opinion this is one of many factors, but the primary factor of our depressed economy is the socialist in the White House and his regime.

GRANDPA EATS DOG FOOD WHILE OBAMA PARTIES

[Paladin2]

Grandpa goes Galt earlier than planned.

[Sacajaweau]

Sorry...just the opposite. Folks lost a lot of money a couple years back and are now forced to work....I see people 70 years old who still work to keep what they have.

[hinckley buzzard]

The fed is full of it as usual. They really think boomers are going to be able to retire anytime soon? By selling stocks?

Dreamers. Just go to any job site, from Mcdonald's to the local road crew and look at all the gray haired workers. Ain't nobody retiring but the upper crust.

[RitchieAprile]

Yep. I plan to be at it when I’m 70 as well.

[cc2k]

I know a lot of laid off 60-somethings who decided to go for early retirement rather than look for work. Some were old enough to start Social Security. Others will start collecting as soon as they are eligible and are now drawing their personal retirement funds.

This economy has been tough on all unemployed, but those closer to retirement age are least likely to find another job and often just start their retirement early.

[NoLibZone]

To the Obama Blames file we need to add:

Obama blames time

[nascarnation]

That was me, retired end of 08 and been essentially out of the stock market since 2007. I missed Ben’s QE runup but don’t feel bad about it.

[NonValueAdded]

Now it’s the Boomers’ fault. Realli, is that how he and his team is spending their summer vacation, thinking up excuses???

[count-your-change]

It's the fault of grandma and grandpa! I knew it! They've been livin’ large and now they're dragging the whole country down.

They live too long and too well and suck up too much medical care instead of just toughing it out.

Just not enough ice floes when mom and dad can't chew hides anymore.

[Iscool]

Propaganda...For every retirement, there’s a new job opening...That will move people off the unemployment compensation roll or off welfare...Just a shift in payout from one agency to another...

[Pining_4_TX]

The problem is that nobody will hire older workers. What else can they do but take early retirement? It’s a crock.

[glock rocks]

We obviously need to ship these mooching boomers of to fema camps!

[KeyLargo]

"Dreamers. Just go to any job site, from Mcdonald's to the local road crew and look at all the gray haired workers. Ain't nobody retiring but the upper crust."

Agreed for the private sector.

However there are millions of public employees retiring now to a life of luxury with no need to worry about having to work at a real job.

[KeyLargo]

"We obviously need to ship these mooching boomers of to fema camps!"

[lacrew]

This recovery is starting to sound a lot like global warming.

[dfwgator]

What @$%#@!% Recovery?

[KeyLargo]

"What @$%#@!% Recovery?"

[Starboard]

Many baby boomers have already sold some assets in preparation for retirement

It has little if anything to do with "preparing for retirement". Many sold because they either lost their jobs or the market was tanking and they couldn't afford to lose anymore. They also knew that Obama's policies were destructive to the markets. This article is total BS and nothing but a Chicago cover story for their Messiah.

[glock rocks]

LOL. Oh, I’m a boomer; I just wanted to beat the resident gen-f’ers to the punch.