Every single global reserve currency has lost it's status. But of course the USD is different. Alright you got me! That was a small sign of sarcasm. It's funny when millionaires start crying that retirement is out of reach. Forget the western nations with the majority of the population living paycheck to paycheck including minimum payments on loans.
It's almost like the soon to be retired are grasping that the system that has benefited them for so long is breaking down. Never mind! The jobs data in the United States showed record employment. I wonder who is taking on second jobs, and if retiree's are going back to work. What's so disturbing is that the response of central banks are to increase rates while they themselves promoted low interest rates for decades. Blow bubbles? Pop bubbles!
It's time to take notice. If the boomers are retiring, it's interesting to see the whole charade come down. Some of them are going to wish for early death. At least I am content knowing I will probably never retire. It's so close they an taste it, but now need to put in more years to reach their financial goals. It's not so far off to even expect banks to hair cut our deposits. So it's a boring post, but if you are a boomer, you have to take notice of what's in the bank, and what's really going to be yours.
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